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United Utilities has awarded the contract for the Haweswater Aqueduct Resilience Programme (HARP) to Cascade Infrastructure Ltd – a project company comprised of GLIL Infrastructure, Equitix and STRABAG
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HARP will deliver major upgrade work to a critical North West water pipeline, safeguarding water supply for more than two million people and delivering economic benefits to the region
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This project reflects GLIL’s capability to deploy UK pension funds from its broad member base to support innovative projects and deliver positive social and economic outcomes
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The project is the first of its kind in the UK water sector to be delivered through the Direct Procurement for Customer (“DPC”) model, requiring water or waste water companies to competitively tender services in relation to the delivery of certain major infrastructure projects.
GLIL Infrastructure (GLIL) has invested in a landmark UK project that will future proof the water supply for millions of people across the North West of England.
The Haweswater Aqueduct Resilience Programme (HARP) will replace and maintain six tunnels on the more than 70 year-old, 110km pipeline that delivers water from the Lake District to 2.5m residents of Cumbria, Lancashire and Greater Manchester.
2.5m
United Utilities has awarded the contract, with an estimated construction cost of c. £3bn, for the finance, design, build and maintenance of the six tunnels to Cascade Infrastructure Ltd – a project company comprised of GLIL, Equitix and STRABAG.
£3bn
This is a great example of how international collaboration and the deployment of local capital can deliver positive long-term impact for communities. As a partnership of UK pension funds, money from Manchester and Lancashire, as well as from elsewhere across the country, is powering this investment into the North West from GLIL.
The project is also the first of its kind in the UK water sector approved by Ofwat to be delivered through a Direct Procurement for Customers (DPC) model – an initiative designed to deliver innovation and best value for water company customers, by competitively tendering for the delivery of major projects.
HARP’s build phase is planned to run over nine years followed by a further 25 years of maintenance.
Lee Belfield continued: “This investment reflects our continued focus on building and investing in UK infrastructure – delivering economic and social benefits across the country, while also delivering the stable, inflation-linked returns that come with infrastructure investment to our members. We’re also excited to be working with Equitix and STRABAG to deliver the UK’s first DPC contract.”
GLIL, which was established in 2015, is a partnership of UK pension funds.
A decade on, the open-ended fund has secured £4.1 billion in committed capital and built a team of more than 30 infrastructure investment professionals. As of 31 December 2024, it has deployed more than £3.2 billion into a portfolio of 14 directly managed assets spanning renewable energy, utilities, ports, logistics, trains, hospitals and schools.
£4.1bn
GLIL invests on behalf of Local Government Pension Scheme funds and pools including Local Pensions Partnership Investments (comprising Royal County of Berkshire Pension Fund, Lancashire County Pension.
Fund and London Pensions Fund Authority), Greater Manchester Pension Fund, Merseyside Pension Fund, and West Yorkshire Pension Fund, as well as Nest, the government - established workplace pension provider.
Making the North West stronger, greener and healthier is at the heart of everything we do. Today marks a significant step to ensure we have the right infrastructure to provide a resilient water supply to communities right across the region for decades to come and, at the same time, creating hundreds of great quality jobs and delivering on the commitments and promises we have set out.
CONTACT
Issued on behalf of GLIL Infrastructure by Citypress
For more information, contact:
Jamie Williamson (+44 (0) 131 516 5551) or email Citypress at LPPI@citypress.co.uk for more information.
About GLIL Infrastructure
GLIL is a partnership of UK pension funds which invests in Britain’s future – creating jobs, supporting communities and helping to power the economy. It is a proven investor, with a fund specially designed to help pension fund members tap into the stable, inflation-linked returns that infrastructure investment offers. GLIL manages £4.1 billion of committed capital, with more than £3.2 billion (as of 31 December 2024) deployed into a growing portfolio of infrastructure assets spanning renewable energy, utilities, ports, logistics, trains, hospitals and schools.
It invests on behalf of pension funds and pools including Local Pensions Partnership Investments, Greater Manchester Pension Fund, Merseyside Pension Fund, West Yorkshire Pension Fund and Nest, the government-established DC workplace pension provider. For more information on GLIL, including its history, investment committee and investment portfolio, please visit www.glil.co.uk.
Please note:
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This press release does not provide advice on legal, taxation or investment matters and should not be relied upon for any such or other purposes.
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