Timeline
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2016
Construction began
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2018
Start of tunneling
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Tunneling complete
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2023
Testing and commissioning
Why we invested
Investment in Tideway enabled INPP to support the funding of a project with clear environmental and social benefits whilst generating long-term, inflation-linked returns from a regulated asset.
Design life
0 years
- Long-term, inflation-linked revenues: With a 120-year design life, Tideway provides exposure to long-term, inflation-linked revenues regulated by Ofwat
- Bespoke regulatory arrangement: The framework provides a revenue stream during both the construction and operational periods
- Government support package: The package recognises the unique nature of Tideway and provides protection under a range of downside scenarios. This feature, along with the bespoke regulatory arrangement, represents an innovative delivery model which may be used for other large scale public infrastructure projects in the future
- Positive environmental and social characteristics: Tideway offered INPP the opportunity to be part of the necessary solution to London’s current waste water discharge, creating a healthier living environment and supporting the local economy
- Management: Very experienced management team, project manager and construction contractors
Outcomes
The Tideway Tunnel aims to positively contribute to the overall health of the River Thames and its aquatic life. The tunnel will reduce the amount of sewage overflow entering the river and will play a key role in supporting a mordernised wastewater management system in London.
- Reduced Sewage Overflow: Once fully operational in 2025, Tideway will work as part of the Thames Tideway Improvements to reduce the amount of polluting discharges entering the River Thames by c.37 million cubic metres in a typical year.
- Infrastructure Modernisation: The construction of the tunnel is part of a broader effort to modernise the city's aging sewer infrastructure, ensuring London's wastewater management system can meet the demands of a growing population
- Economic and Social Benefits: Upon completion of the project, Tideway is estimated to have contributed to more than 4,000 direct, sustainable jobs
- Enhanced Flood Protection: During periods of heavy rainfall, the tunnel can temporarily store excess rainwater and sewage, preventing it from overwhelming the existing sewer system and avoiding flooding in certain areas
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The Tideway Tunnel is one component of the London Tideway Improvements which will work conjunctively to achieve this.
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