Concessio Canonical ID
GB30P0000031
Registry Preview
Overview
Capital value
£202.14m
HMT 2025
Expiry
2039
13 years remaining
Unitary charge
£46.14m
FY 2024-25
Deep Scan
Investment ThesisLocked
Cornwall Integrated Waste Management Project is an operational Private Finance Initiative waste management concession in the United Kingdom, with 13 years remaining to the 2039 contract end — grantor Cornwall, operated by Cornwall Energy Recovery LTD, a 3-holder equity registry on file (HMT 2025).
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Public Registry Fields
General Information
Display format
GB-30-P-000003-1
Country
United Kingdom (GB)
Sector
Waste Management (30)
Family
Environmental
Structure
PFI/PF2 (P) · Private Finance Initiative
Grantor
Cornwall
Operator
Cornwall Energy Recovery LTD
Financial close
16 Oct 2006
Operations start
23 Mar 2017
Contract end
31 Aug 2039
Capital value
£202.14m (HMT 2025)
Unitary charge (2024-25)
£46.14m
Equity holders (2025)SUEZ S.A. — 33.34% · PIP PPP — 33.33% · ITOCHU CORPORATION — 33.33%
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Contract Economics
Financial Terms & ClausesLocked
| Term | Value | Price base | Period | As of |
|---|---|---|---|---|
| Unitary charge (annual) | £46.14m | Nominal · outturn | FY 2024-25 | HMT 2025 · verified |
| Indexation basis | ||||
| Availability deductions | ||||
| Performance deductions | ||||
| Market testing / benchmarking | ||||
| Termination compensation | ||||
| Change in law | ||||
| Handback provisions |
Contract clause library3 clauses on file
Governing Law▪▪▪▪▪ extract + source cite
Environmental▪▪▪▪▪ extract + source cite
Tariff▪▪▪▪▪ extract + source cite
Locked rows show the standard UK PFI project agreement term set tracked by Concessio; extracted values render as they are verified against primary sources. Full clause text and citations are available in the app.
3 contract clause extracts with source citations are available in the platform.Request access →
Sector-Benchmarked
Operating KPIsLocked
| Metric | Latest | Period | Sector percentile | Coverage |
|---|---|---|---|---|
| Concession period (years) | 22.4 | — | 60th |
registry |
| Capital value | £202.14m | 2025 | 90th |
HMT annual · public |
| Availability (%) | ||||
| Deductions (% of UC) | ||||
| Lifecycle spend vs plan (%) |
Percentile bars show this concession's position against Waste Management benchmark cohorts in the registry (largest cohort n=718). Interquartile band shaded. Locked rows show the standard KPI set for this asset class — series and percentile placement unlock in the app.
7 KPI datapoints on file for this concession (2022–2024) — full annual series and sources in the platform.Request access →
Equity History
Ownership & TransactionsLocked
| Date | Event | Stake | Consideration | Implied EV | Counterparty |
|---|
This information is available in the Concessio platform. To explore the full transaction history for this concession, request access.
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Counterparties
Parties & ContactsPartial
Grantor
Cornwall
Department for Environment, Food and Rural Affairs (DEFRA) · United Kingdom
Operator / SPV
Cornwall Energy Recovery LTD
Company No. 05696514
In the full profile
Management service co.
Hard FM provider
Senior lenders
Financial adviser
Legal adviser
Diligence Signals
Risk & CounterpartyLocked
Diligence signals
1 tracked
regulatory
Grantor election exposure
Disputes & precedent
The full risk register covers counterparty credit, political cycle, regulatory determinations and dispute history for concessions in this class.
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Public Record
FAQs
Who is the grantor of this concession?
The grantor on file is Cornwall.
Who operates Cornwall Integrated Waste Management Project?
The operator on record is Cornwall Energy Recovery LTD.
When does the concession expire?
The contract end on file is 31 Aug 2039 — 13 years remaining.
What is the unitary charge?
The unitary charge for FY 2024-25 is £46.14m per the HM Treasury 2025 return. The full indexed schedule is available in the platform.
What is the capital value?
£202.14m per the HM Treasury 2025 return.
Who holds the equity?
Per the HMT 2025 return: SUEZ S.A. (33.34%), PIP PPP (33.33%), ITOCHU CORPORATION (33.33%). Transaction history is available in the platform.
Transparency
Data & Sources
How this entry is verified
Reconciled against HM Treasury PFI/PF2 2025 summary data. View the gov.uk publication →
How Concessio sources data
Records are extracted from primary public sources — regulatory filings, government disclosures and official registries — and cross-checked before entering the platform. Every published datum carries its source citation in the app.