LONDON, Oct. 21, 2014 /PRNewswire/ -- BNY Mellon, a global leader in investment management and investment services, has been appointed trustee and paying agent for Estover Energy's £48m bond for a new Combined Heat and Power (CHP) plant in Speyside, Scotland.

The bond, which is guaranteed by Infrastructure UK, part of HM Treasury, will fund the new biomass plant near Craigellachie, Moray which is to generate enough renewable energy to power more than 20,000 homes. In addition to the £48m bond, John Laing and the UK Green Investment Bank are to invest £26m in the Speyside plant. It is anticipated that the plant will produce 76.8 GWh per annum of renewable heat which equates to 42,000 tonnes of carbon dioxide equivalent a year and that the project will create 123 jobs.

Dean Fletcher, Head of EMEA Corporate Trust at BNY Mellon, said: "Green bonds raise essential capital for pioneering energy projects which make a real difference to the environment, industry and the local economy. We welcome this opportunity to serve this UK government backed venture to boost sustainable energy creation in Scotland. With green bond issuance forecast to reach $100bn in 2015, the industry is realising the potential of large, environmentally friendly infrastructure projects to provide attractive returns in the name of sustainability."

Barclays Bank PLC is the bookrunner and arranger on the bond.

Notes to editors:

As of September 30, 2014, BNY Mellon Corporate Trust served as trustee and/or paying agent on more than 65,000 debt-related issues globally. Its clients include governments and their agencies, multinational corporations, financial institutions and other entities that access the global debt capital markets. The corporate trust business utilizes its global footprint and expertise to deliver a full range of issuer and related investor services and to develop customized and market-driven solutions. Its range of core services includes debt trustee, paying agency, escrow and other fiduciary offerings.

Corporate trust providers are appointed by corporations, municipal governments and other entities issuing debt to perform a variety of duties, including servicing and maintaining the debt issue, processing principal and interest payments for investors, representing investors in defaults, and providing value-added services for complex debt structures.

BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 35 countries and more than 100 markets. As of September 30, 2014, BNY Mellon had $28.3 trillion in assets under custody and/or administration, and $1.6 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com, or follow us on Twitter @BNYMellon.

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SOURCE BNY Mellon