Southern secures £825m in sustainable bonds to support £2bn programme
Southern Water has secured £825m in sustainable bonds in what it has claimed to be one of the biggest public market financing issues for the water sector. The funding will support a £2bn programme of work to address environmental challenges.
The programme includes measures to:
reduce leakage and water abstraction;
protect customers int he region from from internal and external flooding as well as pollution events;
upgrade its Budds Farm wastewater treatment works to improve protection form pollution events;
removing nitrate from Brighton’s water source in the most affordable and environmentally sustainable way possible;
upgrade its Margate sewer network; and
stem further abstraction from new sources by sharing resources form Portsmouth Water's Gaters Mill reservoir.
Southern Water’s chief executive, Ian McAulay (pictured), said “As our economy starts on the road to recovery from Covid 19, our programmes and role in supporting our communities are vital. This funding from investors with a stringent sustainability criteria demonstrates confidence in Southern Water's fundamental commitment to improving outcomes for our customers and the environment."