Financial advisor services for the development of a Carbon Capture and Storage (CCS) facility at the Edmonton EcoPark and integration with a potential future CO2 transport and permanent storage solution

Award outcome

Description

North London Waste Authority (the Authority) is seeking a consultant to provide financial services for the development of a Carbon Capture and Storage (CCS) facility at the Edmonton EcoPark and integration with a potential future CO2 transport and permanent storage solution. This procurement relates to the Strategic Assessment Stage, Stages 1 and 2. However, progression from the Strategic Assessment Stage to subsequent stages will require approval from the Authority's Members and will be subject to satisfying the requirements of the gateway project assurance process as per HM Treasury Guidance. The Authority may, subject to the relevant approvals being in place, progress to Stage 1 and 2. For the overall CCS project, the Authority will use the staged approach as outlined in the HM Treasury guidance to developing the project business case. Stages 3 to 5 are not part of this appointment. The stages are summarised below: Strategic Assessment: Determining the strategic context and undertaking the Strategic Assessment - Enabling early decision-making and governance over early-stage funding. Clarifying options and agreeing assumptions and building the strategic case with industry and transport and storage operators. Stage 1: Business Justification - Scoping the scheme and preparing the Strategic Outline Case - Narrowing the options to a target solution and enabling delivery through appropriate stakeholder partnerships and agreements. Stage 2: Planning the scheme and preparing the Outline Business Case - Refinement of the preferred solution, development of the environmental statement and submission of a full planning application, and preparing the Outline Business Case. For the Strategic Assessment Stage, Stage 1 and Stage 2, the services will involve: The development of a commercial basis for an investment decision including complete project lifecycle financial modelling (DEVEX, CAPEX, OPEX) and a levelized cost of carbon abatement model. They will investigate opportunities for external grant funding or financing options with external bodies and carry out an analysis of the business case options. They will also provide financial advice and support as required for the Authority's external communication activities.

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