Our recent projects

ASTM North America was awarded the DBFM to improve the accessibility of 13 New York City subway stations. The project reached Financial Close in May 2023, kicking off it’s 3.5-year construction term, which will be followed by an operating period of 25 years. The project consists of the installation of 20 new elevators, the replacement of 14 elevators and improving the flow of travel within the New York City subway network. In particular, there is a focus on improving access for people with disabilities, which fits within the context of the Americans with Disabilities Act (ADA) seeking to protect people with disabilities from discrimination in their public life. The £350m project was awarded “Best P3 Transit Project 2023” and is funded by a mix of equity and taxable municipal bonds. Gridlines was pleased to support ASTM by providing a comfort review of the model at bid stage, followed by a formal model audit for financial close.

This was a Geothermal project in the Westland area of the Netherlands which is known for its greenhouse entrepreneurs. The project is expected to contribute around 45MW -60MW to the heat supply in the area and service around 70 horticultural businesses, which is equivalent to heating needs of around 50,000 households. The Projects are together developing a geothermal energy system consisting of three doublets, which will be realized in the village of Maasdijk in the Westland area of The Netherlands. Gridlines assisted by providing a model audit for the benefit of the borrower and the lending group, and this is one of the first geothermal project financings of its kind in Western Europe.

The Mphanda Nkuwa Hydropower Project is to design build finance maintain and operate a dam and 1.5GW hydropower plant, which will be built along the Zambezi River in the Tete province in north Mozambique. The new dam will provide low-cost electricity to the southern African country and help position it as a regional exporter of clean, renewable energy. The dam will link Tete to capital Maputo via a transmission line of around 1,300 kms (800 miles). Gridlines supported EDF and TotalEnergies with a model audit at bid submission, and they have subsequently been appointed preferred proponent, and will enter into a partnership with the Government of Mozambique.

Amaala is one of Saudi Arabia’s gigaprojects, with the aim of developing a Red Sea tourist destination that will be powered by fully by renewable power sources, with an aim to reduce half a million tons of CO2 emissions every year. The Amaala Utilities project will include the development of a reverse osmosis desalination plant, capable of producing 37 million litres of water per day, and a wastewater processing plant, and a solar PV plant of 250MW powering both the utilities facilities and the residential complex (comprising around 10,000 households). Gridlines supported EDF and Masdar with a model audit at bid submission, and they have subsequently been appointed preferred proponent for this landmark project.

The A25 Concession covers a 7.2 km toll road and bridge network that serves as a vital component of the Greater Montréal transportation network. The A25 toll road has been in operation since 2011 and was owned and operated by Transurban Group since June 2018. The Transaction involved the sale of Transurban’s 50% equity stake to CDPQ at a valuation of $355 million, and took place in February 2023. Gridlines supported the parties in this transaction, by reviewing the financial model, and had previously supported Transurban in an earlier refinancing.

Financial modelling support through to financial close on this Utility Scale 240 MW floating solar power plant in Laos.

Financial modelling support through to financial close on this WTE plant in Poland, serving 270,000 residents.

Financial modelling support through to bid on this ground-breaking WTE plant in Indonesia.

Development of the operational model used by Eiffage to monitor the ongoing performance of this 1.5Bn EUR road development.