TTT is the solution agreed by the UK Government, Ofwat and Thames Water to solve the serious problem of some 40 million cubic metres of untreated sewage flowing into the River Thames each year.
- Regulated Assets
Thames Tideway Tunnel (“TTT”)
- Dalmore Infrastructure Investments
Case study overview
The Thames Tideway Tunnel (“Tideway”) is an historic upgrade to London’s sewer system to cope with its growing population. Once fully operational the 25km Tunnel will intercept, store and transfer sewage waste away from the river Thames so it can be treated at Beckton. Construction and tunnelling commenced in 2016 and is now nearing completion. Tideway is now operational with final System Acceptance expected in 2027.
Sector
Regulated AssetsFund
Dalmore Infrastructure Investments, Co-InvestmentsFirst Investment date
August 2015Shareholding
36.6%
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Investment strategy
How we invest
For the past 14 years Dalmore has focused on investing in infrastructure that provides services critical to the functioning of society.
Through disciplined selection Dalmore funds have invested in lower volatility assets without significant exposure to GDP, traffic, usage or market price risk. Geographically Dalmore’s focus remains the UK, although we also manage assets in Europe and North America.
Looking forward, the UK mid-market core and core-plus segment continues to be our main focus, which we believe offers opportunities where disciplined underwriting, a thorough analysis of market exposure and local market expertise may support attractive risk-adjusted returns.