Global asset manager Aviva Investors is financing the construction of a school in Wales.
Aviva, investing on behalf of its UK Life annuity business, said it will provide all senior debt financing towards the construction of the Mynydd Isa campus in Flintshire which is expected to be operational in Autumn 2024.
Mynydd Isa campus is the first school under the Welsh 21st Century Schools and Colleges Programme. The Mynydd Isa campus project is the second confirmed public-private partnership transaction in the country.
Darryl Murphy an infrastructure managing director at Aviva Investors, said: “We are delighted to complete this investment on a social infrastructure project which we think carries a great deal of importance – not only in providing improved access to first-class education facilities, but that also incorporates a great deal of sustainability-led thinking in its construction.
“Doing so should make it more relevant to the transition towards a low carbon world, future-proofing its design, and lowering the ongoing energy usage and costs involved in running the school.”
Doug Brown, CEO at Aviva UK & Ireland Life, said: “Schools play a vital part of any local community, and we are thrilled to support the development of the Mynydd Isa campus. Whilst the school itself will provide excellent access to education, it’s terrific to see its social value being increased further through the apprenticeship programme which will be rolled out during construction of the site.
“We are also very pleased to see our sustainability ambitions reflected in the development and hope this will be a facility which exemplifies our values as a business supporting the UK’s growth and levelling up agenda.”
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