The Haweswater Aqueduct represents critical infrastructure, supplying water from Cumbria to 2.5 million customers across Greater Manchester and Lancashire – accounting for nearly five percent of England’s population. As the largest potable water aqueduct in the UK, spanning 110km, its initial construction was completed in the 1950s. Essential upgrades and tunnel replacements are now required to maintain a reliable water supply for future generations.

The Haweswater Aqueduct Resilience Programme (HARP) aims to strengthen the region’s strategic water network and constitutes one of the most significant water infrastructure projects in the UK. At its peak, construction is expected to generate up to 1,200 jobs.

Construction is scheduled to commence in 2026, with six tunnel segments due for replacement through advanced tunnelling methods. United Utilities, as the owner and operator, will oversee project delivery; while STRABAG UK will be responsible for design and construction of new tunnels. Financing arrangements will involve UK infrastructure sponsors Equitix and GLIL, in partnership with the STRABAG Group.

With backing from the UK Government through the National Wealth Fund’s Credit Enhancement Facility, the HARP consortium successfully obtained funding for the circa. £3 billion initiative by engaging leading financial institutions and investors. NatWest has joined the debt financing syndicate as a Mandated Lead Arranger, providing a lending commitment of £140 million towards the project. 

Hugh Crossley, CEO, Equitix said: “Following years of hard work, we’re thankful to be entrusted with the contract for this transformative UK project. HARP reflects the kind of long-term, high-impact infrastructure we’re passionate about delivering. Together with STRABAG, and in partnership with GLIL Infrastructure, we look forward to working closely with United Utilities to bring lasting value to the region.”

Robert Begbie, CEO, Commercial & Institutional at NatWest commented: “We are proud to play a leading role in financing this landmark initiative that will secure water supply for millions across the Northwest. Our commitment to infrastructure financing is long-standing, and being recognised as the UK’s top lender in this sector reflects the depth of expertise and collaboration across our teams. Investment in infrastructure is a critical driver of economic growth, and we look forward to supporting more projects that deliver lasting value for communities across the UK.”

Ashleigh Grant, Infrastructure & Project Finance at NatWest, added: “We are excited to help fund the delivery of HARP. This transaction demonstrates NatWest’s ability to support high-profile, large-scale UK infrastructure projects, and it is also a good example of how multiple specialist teams from across NatWest work closely together to deliver the best outcome for our customers.”

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