Macquarie Capital (Europe) Limited

Macquarie Capital (Europe) Limited was appointed by TI LirIC Limited as Financial Advisor to the LirIC HVDC Interconnector Project under a competitive flexible procedure published as UK4 tender notice 2025/S 000-048267 and awarded by UK6 contract award notice 2026/S 000-006141. The award decision was made on 21 January 2026, with a contract value of £6.8 million including VAT and estimated contract dates from 6 February 2026 to 30 September 2027. The scope is split into two lots. Lot A — Debt Raising (core requirement) — covers financing preparation and bankability review, regulatory liaison, financial model updates and cap-and-floor scenario sensitivities, funding plan, lender search and screening, ECA financing strategy, debt marketing materials, data-room management, competitive process and mandate, investment-committee materials, documentation to financial close and post-close handover. Lot B — Equity Sell-Down or Capital Raise — is optional at TI's election and covers project diligence, financial model coordination, investor search and screening, valuation, marketing material, competitive bid evaluation, negotiation support and completion. The contract supports TI LirIC's stated target of financial close in Q3 2027 ahead of commissioning in 2032, and is structured around the Ofgem cap-and-floor regulated revenue framework granted to LirIC in November 2024.