United Utilities has gone out to tender with a contract for corporate finance and venture capital services worth £2 million to support its £750 million Manchester and Pennines Resilience (MaPR) scheme in AMP7.
As part of its PR19 business plan submission, UU included a project provisionally called Manchester and Pennines Resilience (MaPR) which is intended to be delivered via Ofwat’s new Direct Procurement for Customers (DPC) approach.
Photo: Haweswater Tunnel
United Utilities said it needs the support of a Financial Adviser (FA) throughout the Project to support and advise through to financial close out. The project will have a relatively long lead time until anticipated financial close (summer 2022).
The water company is looking to appoint a Financial Adviser who can demonstrate good experience in working on projects that have been required to satisfy the criteria set out in HM Treasury 5 Case Model for Project Appraisal (the Green Book) and have strong credentials in assisting clients to prepare Businesses Cases under this model within similar timescales.
In addition, experience in UK infrastructure projects and a UK regulated utilities environment will be highly desirable, particularly in advising on projects which have the UK Government and/or UK Economic Regulators as key stakeholders.
Estimated value of the contract is £2 million - the initial contract term from award of the FA is expected to be 3 years, with the potential for a further two year extension option beyond financial close.
Time limit for receipt of tenders or requests to participate is 3rd June 2019 – click here to access the tender documentation.
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