Owner of South West Water Pennon Group has formally announced the launch of its fully underwritten rights issue to raise £490 million as part of a comprehensive financing package.
The proceeds of the rights issue are expected to be used to fund increased investment in the Group's water businesses.
On Friday Pennon issued a second supplementary prospectus to the Base Prospectus it published on 23 July 2024 for a £2.5 billion Euro Medium Term Note Programme established by South West Water Finance PLC.
South West Water is the guarantor for payment of all amounts due in respect of Notes issued by South West Water PLC.
The update also includes the incorporation of the Group’s acceptance of Ofwat’s Final Derminations into the Base Prospectus.
South West Water operates through the South West Water, Bournemouth Water, Bristol Water and Isles of Scilly brands. In January 2024 Pennon Group also announced the acquisition of SES Water.
The Pennon Group also owns three national non-household water retail businesses: Pennon Water Services (an 80% holding), Water2Business (a 30% holding) and SES Business Water. Pennon Power, the Group’s renewables investment arm, is currently developing four renewable projects across the UK.
HUBER Technology UK & Ireland are inviting people to register for their March webinar where they will be providing information about HUBER water intake screens for municipal and industrial applications.
Sulzer has launched a new global Center of Excellence (CoE) for Water Treatment Solutions - the CoE consolidates Sulzer’s wastewater treatment expertise in a unified and global manner.
“SAS (Surplus Activated Sludge) is a bit weird and 
Owen Mace has taken over as Director of the British Plastics Federation (BPF) Plastic Pipes Group on the retirement of Caroline Ayres. He was previously Standards and Technical Manager for the group.
Hear how Scottish Water has completed its £235 million Ayrshire Glasgow Resilience Project - customers across Greater Glasgow, Ayrshire and East Renfrewshire will now benefit from a more secure and resilient water supply.
Hear how United Utilities is accelerating its investment to reduce spills from storm overflows across the Northwest.
Find out more about the remarkable career opportunities on offer at WSP - scroll down to watch the inspirational video.