Waste projects go forward in securing financing

London— Seven projects for dealing with England’s waste moved a step closer to securing Private Finance Initiative (PFI) funding.

The projects have been given the go ahead for the next stage of the PFI process after applying to Defra’s Waste Infrastructure Delivery Program (WIDP) for PFI credits.

The successful authorities are:

  • Norfolk County Council
  • Milton Keynes Council & Northamptonshire County Council
  • Gloucestershire County Council
  • Essex County Council & Southend Borough Council
  • Leicestershire County Council
  • Lincolnshire County Council
  • Staffordshire County Council

The authorities must now submit their Outline Business Cases (OBC) by the end of April, 2008.

If approved, the schemes will be advertised in the Official Journal of the European Union in Autumn 2008.

Two further projects - the North London Waste Authority, and Plymouth City Council together with Devon County Council and Torbay County Council – may still join the award round. They have been asked to review progress early in the New Year to assess whether they can submit their OBCs by April 2008.

The closing date for Expressions of Interest in the next PFI award round is March 31, 2008. This is likely to be the last of the rounds under the current Comprehensive Spending Review £2 billion allocation. Successful authorities will be required to submit their OBC by October 2008 with approval expected in the winter. Current applications for PFI credits must have a recycling rate equal to, or in excess of, the national target of 50% by 2020.