Distributed heat networks: UKIB and Ofgem become part of a renewable low-carbon heat future

District heating networks Amberside Advisors
Source: https://www.gov.uk/
The UK Government’s approach to decarbonisation may be cooling, as it delays its gas boiler ban to 2035, but in some quarters moves towards low-emission space heating are warming up.

The Energy Act 2023 received royal assent at the end of last month, expanding the power of the Ofgem to regulate Distributed Heat Networks (DHN), pushing this lesser-publicly discussed technology further up the political agenda.

The UK Infrastructure Bank (UKIB) has likewise placed a renewed focus on low-carbon heating in their updated strategy released in September. UKIB identified heat networks as one of its seven focus areas and is offering advisory support, and funding opportunities to zonal projects, which are either public sector-led, private or a partnership, ahead of zoning legislation, which is yet to be finalised.

The Department for Energy Security and Net Zero (DESNZ) have assessed that monetised benefits from DHN for consumers could amount to £847.7 million and a further £20.8 million in savings through improved bill transparency which will drive energy consumption reduction. DESNZ also said that non-monetised benefits could prove extensive. These comprise reduced costs and savings through extra rights and powers to develop and manage heat networks, including improved rights to lay pipes under roads, increased ability for the regulator to challenge unfair pricing and social benefits for vulnerable customers.

Further to this, the recently released National Infrastructure Commission (NIC) report also called for the same level of subsidy to be made available for DHN as heat pumps (currently around £7,000 per household), placing the technologies effectively on an equal footing.

These institutional-level advancements are hopeful signs for the industry, but a secure financial future will still require work.

What potential does the UK have for distributed heat network?

In legislative and funding terms, plans were already well underway for DHN in the UK prior to these developments.

Gateshead Council geothermal heating plant
Source: https://www.gov.uk/

In the Northeast Gateshead council uses a DHN run on geothermally heated water from abandoned mine shafts to heat local homes, while in Yorkshire almost 2,000 homes are connected to Leeds Pipes, which burns waste to power its heat network.

More opportunities abound with a wealth of local authorities exploring their recoverable heat options with no shortage of data centres and disused coal mines across the nation to choose from. A report by KPMG and Thames Water at the start of this year found that as much as 20% of London homes could be heated using sewers and wastewater treatment plants, with a similar heat recovery from wastewater system already in use in Galashiels in the Scottish Borders.

smart meter thermostatDespite this, there are certain cultural attitudes amongst the UK population which may see citizens balking at losing their gas boilers. European nations which benefit from distributed heat networks are (broadly speaking) either the famously civic-minded Scandinavian countries or the Baltic states which (whether by choice or not) have a legacy of communal architecture and infrastructure. DHN, which would move heat into the same category as electricity and water pressure in terms of centralised control, may prove a difficult sell to the electorate.

Another hurdle is the familiar and ever-present issue of cost. Whilst place-based DHN investment is cost effective versus alternatives, moving homes from the century-old gas grid will be extremely capital intensive and require a number of complex new funding structures which are not yet fully fleshed out.

The UK Government projects that the sector has £60 – 80 billion of investment potential by 2050 but how to unlock this investment is a different question entirely.

Barriers to a district heat network future and how Amberside Advisors can help

The Gateshead DHN is in majority funded by the local council, a model which is not suitable for all (or even most) cash-strapped local authorities in the UK, especially given the increased cost of borrowing.

heating pipes in industrial settingAmberside Advisors are already operating in this space and are part of a consortium (led by Triple Point) which promotes and provides government funding for heat network projects from the Green Heat Network Fund (GHNF). With the team, we have also established a dynamic procurement tool, BHIVE, which provides a route for project sponsors to access commercialisation support and construction financing.

In the long run, the financial viability of distributed heat networks will rely on the ability to establish a standardised investment model that will attract institutional capital.

As well as applying our core strengths in financial modelling and investment appraisals to help clients with the cost benefit analysis of DHNs, we are also using our decades of expertise to structure the right frameworks and contracts that will allow capital to flow towards DHN ensuring their long-term success.

Please reach out, if you’d like to know more about Amberside’s pioneering work in the Energy Transition.

Contact an expert

Mark Easter

Head of Commercial Advisory
Tullan McGuinness, Commercial Advisor at Amberside Advisors

Tullan McGuinness

Tullan joined Amberside in 2023 as a Commercial Advisor working within our Commercial Advisory team, focusing on energy transition projects.

Tullan started his professional career in New Zealand, working as a Trading Analyst for a fintech firm. Then he moved on to Meridian Energy, where he worked as a Corporate Finance Analyst in their Strategy and Performance team.

Passionate about energy transition and financial markets, Tullan believes renewable energy will be vital in shaping a sustainable future. The prospect of advancing this vision throughout his career is really compelling to him, hence why joining Amberside, a company at the forefront of commercial advisory for energy transition projects, was a natural next step for him.

Tullan holds a Bachelor of Commerce with major in Finance and minor in Public Policy from Victoria University of Wellington. In his spare time, he enjoys watching and playing various sports, and is a keen traveler.

Daniel Hague consultant at Amberside Advisors

Daniel Hague

Daniel studied philosophy at the University of Birmingham as an undergraduate, which he then followed with graduate programme MPhil Stud in Philosophical Studies at UCL. During his Uni years, Daniel was actively involved in a range of sports teams and societies, serving as an Education Secretary and Treasurer for the Philosophy Society and throwing the javelin at BUCS. 

Outside of work, Daniel enjoys reading high fantasy novels and running recreationally, with his main current goal being to run a 5km distance in under 20 minutes.

Zaydaan Chowdhry - Consultant at Amberside Advisors

Zaydaan Chowdhry

Zaydaan have recently graduated with a Bachelors degree in Geography from the University of Cambridge. A year prior to joining us, Zaydaan completed an internship as Product Analyst Intern at Transport Research Laboratory, where he had an opportunity to contribute to one of their flagship projects, which supported National Highways. 

Outside of work, Zaydaan likes to stay active, going to the gym and travelling, and he’s a keen cricketer – he used to play for his University team and now he continues his passion playing at the Hertfordshire League for Pinner Cricket Club.

Rosie Strong - Consultant at Amberside Advisors

Rosie Strong

Rosie joined us after graduating from the University of Cambridge, where she studied Natural Sciences, specialising in plant sciences/ecology. Rosie is very passionate about tackling climate change and she is keen to develop her professional career in the renewable energy sector. 

Outside of work she enjoys spending time outdoors and doing various sports, from climbing through to cycling and swimming – she even completed her first triathlon earlier this year. She also love travelling and is a keen baker.

Leon Crook - Consultant at Amberside Advisors

Leon Crook

Leon graduated this year from University College London with an undergraduate degree in Economics. In his career so far, Leon has worked for three different startups, covering both sales and operations. Building on that experience and the knowledge he’s gathered during his courses at UCL, he is now looking forward to taking the first steps into financial advisory with Amberside.

Leon enjoys spending time in the countryside and has even had experience working at a farm last summer. He likes to stay active, training frequently at the gym, while also finding time to explore his more artistic side, writing poetry and playing guitar.

Ana Tecpa Arroyo

Ana Tecpa Arroyo

Ana joined Amberside in 2023 as a new Senior Manager working within our Commercial Advisory team, focusing on energy transition projects, specifically heat networks and decentralized energy mandates.

Most recently, Ana was a part of the Investment Team at an Infrastructure Fund Manager called Victory Hill Capital Partners, working with renewable energy projects, advising on mergers and acquisitions. Prior to that, she was sitting on the Financial Institutions desk at HSBC Global Banking, and also worked as a Senior Consultant for PwC, where she was developing finance models for infrastructure projects and providing valuations of private equity companies.

Ana holds a Master’s Degree in Finance from London Business School. In her free time she enjoys hiking and is currently learning French.

Shravya Garuda

Shravya Garuda

Shravya is a financial consultant with years of experience gathered at EY and Grant Thornton. In her professional career, she worked across industry sectors spanning Transport, Health, Real Estate and others, advising both private sector clients and various Government departments.

At Amberside, Shravya will focus on project work to support the wider management team, building on her previous experience in the financial and commercial advisory sector, working with clients through spreadsheet-backed models/analytic tools and also help explore new opportunities.

Shravya has a Bachelor Degree in Electronics and Masters in Physics (majoring in Mathematical Physics) from Birla Institute of Technology and Sciences, Pilani (BITS Pilani), one of India’s most premier institutes. And she loves sharing her knowledge, working as a volunteer at the local Government-aided schools, teaching under-privileged kids in Grades 4-7 Mathematics and Spoken English. 

Joseph Whitehouse

Joseph Whitehouse

Joseph joined Amberside in 2023, after graduating from the University of Leeds with a BSc in Physics. Since joining Amberside, Joseph has been focused on his training to become a chartered accountant and to develop his skills as a financial modelling consultant.

In his free time, Joseph enjoys playing chess and video games, as well as a variety of sports including football and cricket.

Marta Kolodziejska

Marta Kolodziejska

Marta is an experienced marketing professional that joined Amberside in 2023, following her appointments at major players in healthcare and beauty sectors. She is passionate about building effective omnichannel marketing strategies, always fully leveraging digital marketing capability that she’s an expert at.

Marta is working alongside Amberside Business Leadership Team, ensuring that the marketing function fully supports the company’s key objectives, building the brand awareness externally and internally, and managing the customer journey through all touchpoints. She is also a part of Steer Group’s marketing team, where she is responsible for aligning Amberside communication plan and activity with the company’s wider goals.

Outside of work, Marta enjoys travelling and staying active by playing badminton, snowboarding, running and attending occasional roller disco with her daughter.

Pavan Khalon - Consultant at Amberside Advisors

Pavan Khalon

Pavan joined Amberside in 2023, having previously worked for a company that provided financial and database management services for charities across the UK, after graduating from the University of Hull. Pavan is looking forward to developing his skills in financial advisory and expanding his knowledge of the sectors Amberside operates in. 

In his spare time Khalon now mostly enjoys watching films and staying active outdoors, but growing up he used to train kickboxing and has even earnt a black belt in taekwondo.

Don Choi - consultant at Amberside Advisors

Don Choi

Don joined Amberside in 2023, building on his experience from start-up environment in corporate and trade finance sector. Having earned his PhD from University of Nottingham, Don trained as a historian of antiquities, but is now keen to embrace his new career and get stuck into the projects that relate to energy market and infrastructure, helping tackle challenges many of our clients are facing in these unprecedented times.

As for his hobbies outside of work, Don describes himself as ‘keen cyclist, novice golfer, but lover of all sports.’

Lavanya Joshi - Commercial Analyst at Amberside Advisors

Lavanya Joshi

Lavanya Joshi joined Amberside in 2023 as the new Commercial Analyst working within our Commercial Advisory team. She’s currently based in our Delhi office in India.

Lavanya graduated with a Bachelor’s degree in Economics, Politics, and International Studies from the University of Warwick. Prior to joining Amberside she worked as an Investor Relations Analyst at a non-banking financial company dealing with EV financing and she brings in experience from technology-based startup industry in India and the UK. 

Lavanya loves travelling, volunteering, reading, and she is a trained Indian classical dancer.

Alex Dakaj

Alex joined Amberside in January 2019 and is currently working towards achieving a MAAT status. Since joining he has worked on a variety of mandates including operational model builds, audits and acquisition support across the renewables and infrastructure sectors. Outside of work, Alex boxes and enjoys travelling.

Webb Hu

Webb joined Amberside in March 2023 after graduating from the University of Bristol with a BSc in Mathematics, studying topics such as number theory, group theory and topology.

In his spare time, Webb enjoys cooking, playing video games and climbing.

Zubair Mushtaq

Zubair joined Amberside in January 2023 after graduating from Cass Business School with a bachelor’s degree in Banking & International Finance. He has previously worked as a finance manager in the healthcare industry and intends to use these skills and experience to develop his financial modelling skills at Amberside.
Outside of work, Zubair is a keen traveller and enjoys both watching and playing several sports, particularly football, squash and skiing.

Jaydon Knight

Jaydon joined Amberside in December 2022 after graduating from the University of Nottingham. He joined a Deal Advisory team in 2020 before joining Amberside. In his spare time Jaydon enjoys calisthenics and football, as well as being a black belt in karate.

Jonathan Cockcroft

Jonny joined Amberside in December 2022 after moving to the UK from Australia, where he qualified and practiced as a lawyer at a prestigious law firm. He moved into working as a corporate finance consultant where he specialised in the Housing sector before joining Amberside. In his spare time, Jonny spends time with his friends and family and is a keen fan of both cricket and rugby.

Mariana Branco Pinho

Mariana joined Amberside in November 2022 after graduating with a BSc in Management with Finance from Warwick Business School. In her free time, Mariana enjoys dancing in both ballroom and ballet and also stays active through running. When not exercising Mariana plays the piano and reads.

Fuad Habash

Fuad joined Amberside in November 2022 after graduating from the University of Glasgow with a MSc in International Finance Analysis, as well as a BSc in International Accounting from the German Jordanian University. Through previously interning and working in accounting and business analysis, Fuad has learned many useful skills he looks forward to applying at Amberside. In his spare time Fuad enjoys reading light novels as well as doing pixel art.

Aadi Shahare

Aadi joined Amberside in September 2022 after having graduated with an undergraduate degree in Economics at the University of Warwick. He has previously interned at a machine learning firm as well as consulted on multiple start-ups, and intends to use the skills he has learned to develop his financial modelling at Amberside. Outside of work, Aadi has been a keen hockey player for over a decade, as well as enjoying travelling, reading and frisbee.


Yaoyu Wu

Yaoyu joined Amberside In August 2022 after graduating with a bachelor’s degree in Actuarial Science at Kingston University followed by a master’s degree in Financial Management from Middlesex University. She has previously worked as an intern at a private wealth management company and uses that experience in her financial modelling work here at Amberside.
When not working, her hobbies include hiking, playing badminton, travelling and cooking.

Alessandro Capozi

Alessandro joined Amberside in November 2021, having previously studied his undergraduate degree in Management Engineering at La Sapienza, University of Rome in Italy, followed by a master’s degree in Finance at Birkbeck College, University of London. Since joining Amberside, Alessandro has been focused on starting his training to become a chartered accountant. In his free time, Alessandro enjoys socialising, reading and cooking.

Adel Yaqub

Adel joined Amberside in 2021 after graduating from the University of Leicester having studied Economics.
He has worked in several sectors including decentralised energy, healthcare, social housing and waste to energy. Responsibilities have ranged from providing a business development role for BHIVE to gaining valuable financial modelling experience through scenario modelling, updating operational models and producing financial close and valuation models. He has also gained experience in producing investment teasers and an information memorandum.
Projects have included supporting the sale process of a ~ £250m healthcare business and working on several models for the North London Waste Authority’s £1.2bn Energy Recovery Facility.
Outside of work, Adel is furthering his Dutch and Urdu languages, travelling and enjoying Arsenal’s resurgence to greatness.

Jack Bedells

Jack joined Amberside in September 2019 and has been working towards becoming an ICAEW qualified accountant. Since joining Amberside, he has delivered a wide variety of mandates across the decentralised energy sector including operational modelling, transaction support, vendor due diligence in the private sector, and business development and investment advice in the public sector. Jack currently has a business development role for both the Green Heat Network Fund and the BEIS Heat Investment Vehicle. In addition, he has worked in multiple different sectors such as transport, healthcare and education, as well as being a part of our marketing team. Prior to joining Amberside, he graduated from the University of York with a degree in Mathematics.

Qasim Malik

Since joining Amberside in May 2019, Qasim has worked on operational model builds for projects in the education, healthcare, accommodation, and renewables sector and has experience working on international projects across Europe in Ireland, Sweden, Italy and Germany as well as North America. He has also carried out model audits, wider due diligence engagements and has provided modelling support for acquisitions and refinancings. Qasim has also worked on valuation and bridge exercises for infrastructure funds. Notable Projects include auditing a $2.5bn toll road, a £4.3bn sewer system and supported the refinancing of a £0.16bn council building. He joined after graduating with a degree in Accounting and Management from the University of Reading and is a Chartered Management Accountant. Outside of work he enjoys watching movies, following football, and reading.

Ibe Badipe

Ibe joined Amberside Advisors in May 2019 where he will study to become an ICAEW accountant. He previously worked as a junior fund accountant for an accountancy firm. This followed studying accounting finance at the University of Southampton with a year long placement at an audit firm. In his free time he enjoys athletics, going to the gym, attending music festivals and following football.

Glenn Hicklin

Glenn Hicklin

Glenn joined Amberside in October 2018 and is training to become a CIMA qualified accountant. He graduated from the University of Cambridge with a degree in Natural Sciences, specialising in Physics. Since joining Amberside he has worked on various operational models for sectors such as renewable energy and healthcare. Outside of work he enjoys playing badminton, birdwatching, board games and quizzes.


Paul Blessing

Since joining Amberside in November 2017, Paul has worked on operational model builds for projects in the health, renewables, and infrastructure sectors. He is currently training to become a CIMA qualified accountant, and is a member of the company’s IT team. Before joining Amberside, Paul completed a degree in Mathematics at the University of Bath. Outside of work, Paul is a competitive swimmer who has competed at a regional level and is a keen fan of motorsport.

John Mitchell

John manages one of Amberside’s modelling teams, combining managing a group of junior and senior consultants with leading on various different mandates. He has worked on a range of infrastructure modelling builds across sectors including renewable energy assets, OFTO leases, smart meter portfolios, and university modelling. He has provided model build, audit, due diligence, and valuations support on operational models. John also works as part of the recruitment team and external client training team covering excel and modelling training. John is a Chartered Accountant (ICAEW). Outside of work, he enjoys playing in a local orchestra, video games, and roller derby.

Peter Place

Pete manages one of Amberside’s modelling teams, overseeing a group of junior and senior consultants, as well as regularly leading on various mandates. His experience in the public and private sectors spans a wide range of infrastructure SPVs, property portfolios and renewable energy assets across the UK and Europe. He has been involved with providing model build, audit and due diligence services on operational and transaction models through each possible stage of a project’s lifecycle, from FC to construction, valuations, sales, acquisitions, and variations. Pete is also an integral part of Amberside’s client aftercare and recruitment teams. He holds a Maths degree from the University of Bath and is a Chartered Accountant (ICAEW). Pete likes his music, is a casual football fan, and recreationally plays tennis, poker and video games.

David Lang

David is an Amberside manager, based in the Amberside London Office. Since joining Amberside in 2015, David has worked on an extensive range of mandates across financial modelling and advisory in a wide range of sectors. Highlights include transaction support, for example supporting the acquisition and financing of a hydroelectric portfolio by a UK fund, modelling support for a debt raise by a major European fibre-to-the-premises broadband provider, leading Amberside modelling on two primary PFI deals, and numerous operational model and audit engagements. He has also taken a lead role in developing the company’s financial modelling tools and templates. David is a Chartered Management Accountant. Prior to joining Amberside, he completed a PhD in Earth Science at the University of Southampton, having previously studied at the University of Oxford. Outside of work he enjoys running, reading and travelling.

Steven Shenton

Steven has worked at Amberside for over 10 years and has extensive experience producing a variety of financial models. He has created models to win bids for government contracts in both the healthcare and justice sectors, optimised models for the valuation of secondary market purchases, created consolidated models for funds, and built statistical models for both viability testing and accounting purposes. In addition to working on projects across the EU, North and Central America, and Africa, Steven has produced operational models for schemes in sectors covering Building Schools for the Future (BSF), fire stations, health, power transmission, prisons, transport, renewables, EfW and social housing. A background in programming enables Steven to approach very complicated projects, and build a user friendly product that fulfils all requirements. Steven graduated in Mathematics from the University of Cambridge.

Philip Young

In his career at Amberside, Philip has worked on SPVs located throughout Europe, with some projects in North American and Africa. He has worked on all stages of an infrastructure asset’s lifecycle, from feasibility and funding close, operational reporting, variation and refinancing, acquisition and sell-side, and to project termination or asset handback. While doing so, he has a focus on understanding, adapting, and explaining complex transactions and mechanisms to clients, funders and other stakeholders. This combined experience has led to Philip providing financial modelling training to institutions in Cote d’Ivoire and UK. He has Chartered Management Accountant status, and a Master’s degree in Physics, and works from the London office. Away from work, he is learning to dance with limited success.

Robert Caroline

Rob joined Amberside in late 2013 after graduating from the University of Warwick – he has worked on a wide variety of assignments from operational models and variations to portfolio exit analysis and financial close modelling. In recent years Rob has provided transaction support for the raising of over £100m of project finance debt for the Healthcare and Transport Infrastructure sectors, and supported several renewable asset acquisitions including the Granville Eco Park anaerobic digestion site in Northern Ireland. He acted as vendor liaison and project manager on a mandate to provide valuation support for the sale of a £70m+ portfolio of UK assets, and has provided fund valuation and analysis support for a number of large investment portfolios totalling over €4bn in value with assets throughout Europe. Rob holds a degree in Physics and is CIMA-qualified. Outside of work he enjoys playing 5-a-side football and badminton.

Vicki Hawes Chief People Officer Amberside Advisors

Vicki Hawes

Vicki is an experienced CIPD qualified HR Professional with significant expertise across the specialism. Whilst managing her own HR consultancy, Vicki worked across a number of small SMEs, however the majority of her HR career was at KPMG where Vicki spent 13 years. As Chief People Officer, Vicki is responsible for overseeing the Firms Human Resources function – including deliver of the the People Strategy, talent management and development and recruitment.

Viet Nguyen

Viet is an associate director with responsibility for growing Amberside’s waste and renewables capabilities. He returned to Amberside after a 4 year absence pursuing his career at an anaerobic digestion developer. Now part of our strong, senior management team, he brings his additional experience in project finance management to our clients to help build on all our successes. His extensive knowledge includes 8 years direct experience within industry covering the anaerobic digestion and waste to energy sectors. Viet also has 10+ years’ experience working in advisory undertaking roles covering model audit, bid, operational, acquisition and refinancing for a range of international infrastructure project types.

Mark Easter

Mark joined Amberside Advisors as Head of Commercial Advisory in March 2022 from the ENGIE Urban Energy leadership team, where he headed Commercial Management of the largest district energy portfolio in the UK (560MWth). Mark has been at the forefront of developing and negotiating many of the industry’s highest profile transactions including schemes at the Olympic Park and Stratford City, Embassy Quarter Nine Elms, Newcastle Science Central, Edinburgh St James Quarter, and Battersea Power Station, as well as providing commercial and risk leadership across the national portfolio. At Amberside, he is now using this experience to support the growth of the wider Heat and Decentralised Energy sector. Mark started his career in infrastructure with Lendlease in the PFI and retail portfolio, before transitioning to a range of energy services within Cofely GDF-SUEZ including district energy, solar and gas mobility.

alan Samuels

Alan is part of the senior leadership team, with responsibility for overseeing the business. He is an ICAEW chartered accountant with 15+ years of financial modelling and advising experience having worked in the PPP/PFI industry since 2008. Since joining in 2010, Alan has worked on 300+ projects including valuations, acquisitions, refinancings, model builds and model audits. Alan has worked across sectors including transport, health, education and renewables, with projects based in the UK, Canada, Africa, Holland, France and Germany. Notable projects include a £6.2bn European high speed train link, a €0.8bn+ fund valuation and mobilising an international banks modelling team. Alan also heads up external training, having delivered training to 250+ infrastructure professionals including banks, corporates, funds and project sponsors.

Debra Secunda

Debra coordinates, manages and schedules diaries to ensure the smooth running of the business and management of the admin team. As Office Manager she deals with the day to day operations in respect of premises, health and safety and environmental management. This includes working with colleagues to promote a safe and well maintained office environment as well as delivering continuous improvements in environmental performance in alignment with our aim to be Net Zero Carbon by 2025. One of the aspects of the role that Debra particularly enjoys is organising companywide events, from Strategy and Company Days, through to the annual Christmas party. From a more personal viewpoint, Debra has a keen interest in health and wellbeing and is a qualified Mental Health First Aider (MHFA). Away from the office, Debra continues her interest in health, wellbeing and fitness, and enjoys attending the gym where she trains for triathlons.

Richard Turner

Richard has 30 years of experience advising on, lending to and investing in infrastructure projects. He spent the first 10 years of his career at Kleinwort Benson and Rothschild, taking the lead on arranging financing for a wide variety of infrastructure projects. This was followed by 15 years as Commercial Director and Head of Project Finance at Carillion, where he led and oversaw the financial close of more than 35 projects and helped raise more than £5bn of debt. At Amberside, Richard leads our financial advisory team and has worked on a wide range of projects from greenfield biogas to heat networks.

Neil Rutledge

Neil has over 25 years of experience in corporate and project finance across various professional services firms. As a trained chartered accountant, he led the financial modelling function in each of those firms, developing a variety of tools to support infrastructure transactions. He spent 6 years delivering regeneration projects with KPMG before becoming a partner with Grant Thornton’s Government & Infrastructure Advisory team and eventually a Director and part-owner of Amberside Advisors. Neil’s experience with Amberside covers advising on over 200 PFI projects, providing financial advice to contracting authorities, project sponsors and lenders. He has helped clients to enter, review, optimise, restructure, refinance and exit PFI and PPP projects across a range of sectors. Neil is also well-versed in SOPC4, Green Book VFM methodologies, and contracting and governance arrangements between public and private sectors.

Paul Austin

Paul has over 15 years’ experience acting as a financial advisor on project finance transactions. After training as a chartered accountant with Robson Rhodes, he moved to Mazars as one of the four founding members of its Project Finance team. In 2009 he then co-founded the team at Amberside and has since developed a market leading operational modelling service and built a respected team that regularly work on the largest international projects. An expert in financial modelling, Paul also brings a wealth of commercial, operational and accounting expertise to all our clients. He has supported projects at all stages of their lifecycle, including financial closes, major variations, refinancings, acquisitions and disposals. He has worked on many of the largest infrastructure, PFI/PPP and renewable energy projects ranging from the Thameslink Rolling Stock Project to Bart’s Hospital and Bluefield Solar’s £180m portfolio refinancing.