Private Finance Initiative

Ally Tibbitt made this Freedom of Information request to Scottish Water

This request has been closed to new correspondence from the public body. Contact us if you think it ought be re-opened.

Roedd y cais yn llwyddiannus.

Dear Scottish Water,

The Scottish Government publishes some detail about some private finance projects that does not seem to be available for Scottish Water projects.

Please could you provide the following information on private finance projects that are funded by Scottish Water?

1. The name, and projected start and end dates of each private finance project.
2. A description of the purpose of the private finance project.
3. The annual estimated payment profile for each private finance project, from start date to end date.
4. The name and registration number of the Special Purpose Vehicle (SPV) company that receives payments from Scottish Water for each PFI project.
5. The names and company registration numbers of all equity holders in each SPV.
6. The names and company registration numbers of all senior and secondary debt holders in each SPV.
7. The estimated Internal Rate of Return received by investors for each project.
8. Copies of any reports undertaken that estimate the cost of "buying out" each PFI project. These are referenced in published business plan documentation on the Scottish Water website.

Where possible, please supply the requested numerical information in Microsoft Excel format.

I look forwards to hearing from you in due course.

Yours faithfully,

Ally Tibbitt

FOI, Scottish Water

Dear Sir / Madam,

Thanks for getting in touch with Scottish Water.
We have opened a new case CAS-953129-Y4C0P in response to your email and
assigned it our FOI.
Should you need to follow up on this case, please contact us with
reference CAS-953129-Y4C0P.
Thank you,

 FOI 
Scottish Water
Web - [1]www.scottishwater.co.uk

[2]twitter.com/scottish_water [3]Logo gap[4]facebook.com/scottishwater 

Scottish Water
Trusted to Serve Scotland

Privileged/Confidential information may be contained in this Email and any
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Opinions, conclusions and other information in this message that do not
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or other malicious software.

Scottish Water

[5]www.scottishwater.co.uk

References

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4. http://www.facebook.com/scottishwater
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FOI, Scottish Water

Dear Mr Tibbitt,

Freedom of Information request - Private Finance Initiative

Thank you for your email of 5 October 2019 that we have received on 7
October 2019 and  I have logged under the above reference number.

We have 20 working days to reply to your request and you are due a
response on or before the 5 November 2019.

We will endeavour to get a response to you as soon as we can.

If you have any queries regarding your FOI request please feel free to
contact me quoting the above reference number, and I will be happy to
assist.

Yours sincerely

Margaret Hopkins

FOI Officer

Buchanan Gate Business Park

Cumbernauld Road | Glasgow | G33 6FB

Tel: 0141 483 0691

[mobile number]

[1][email address]

Scottish Water – Trusted to Serve Scotland

 

 

 

 

Privileged/Confidential information may be contained in this Email and any
files transmitted with it. If you are not the intended recipient you
should not retain, copy or use this Email for any purpose or disclose all
or part of its contents to any person. If you have received this Email in
error please notify the sender immediately and delete this Email from your
system.

Opinions, conclusions and other information in this message that do not
relate to the official business of Scottish Water ("SW"), Scottish Water
Horizons Ltd ("SWH"),Scottish Water International Ltd ("SWI") or Scottish
Water Solutions 2 Ltd ("SWS2") shall be understood as neither given nor
endorsed by them. The contents of Emails sent and received by SW, SWH, SWI
and SWS2 are monitored.

WARNING: Although SW, SWH, SWI and SWS2 have taken reasonable precautions
to ensure no viruses or other malicious software are present, SW, SWH, SWI
and SWS2 cannot accept responsibility for any loss or damage arising from
the use of this Email or attachments however caused. The recipient should
therefore check this Email and any attachments for the presence of viruses
or other malicious software.

Scottish Water

[2]www.scottishwater.co.uk

References

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1. mailto:[email address]
2. http://www.scottishwater.co.uk/

FOI, Scottish Water

3 Atodiad

Dear Mr Tibbitt, 

Thank you for your request for information which we processed under the
Environmental Information (Scotland) Regulations 2004 (EIRS) under the
exemption contained in section 39(2) of the Freedom of Information
(Scotland) Act 2002.

Your request for information was for the following:

1.    The name, and projected start and end dates of each private finance
project.

2.    A description of the purpose of the private finance project.

3.    The annual estimated payment profile for each private finance
project, from start date to end date.

4.    The name and registration number of the Special Purpose Vehicle
(SPV) company that receives payments from Scottish Water for each PFI
project.

5.    The names and company registration numbers of all equity holders in
each SPV.

6.    The names and company registration numbers of all senior and
secondary debt holders in each SPV.

7.    The estimated Internal Rate of Return received by investors for each
project.

8.    Copies of any reports undertaken that estimate the cost of "buying
out" each PFI project. These are referenced in published business plan
documentation on the Scottish Water website.

 In response to Question 1 

Project Name Start Date (Date of End Date
financial close)
Aberdeen 04/05/2000 04/05/2030
AVSE (Almond Valley Seafield & Esk) 29/03/1999 30/11/2029
Daldowie 06/12/1999 01/04/2026
Dalmuir 06/05/1999 15/06/2026
Highland 12/12/1996 12/12/2021
Levenmouth 30/10/2000 30/10/2040
Moray 25/06/2001 25/06/2031
Tay 16/12/1999 16/12/2029
MSI (Meadowhead, Stevenston, 11/10/2000 29/09/2032
Inverclyde)
link to published data:
Current projects as at 31 March 2018
[1]http://www.gov.scot/Topics/Government/Fi...

In response to Question 2

Project Name Purpose
Provide waste water and sludge
treatment and disposal services to
Aberdeen Scottish Water.
Provide waste water and sludge
treatment and disposal services to
AVSE (Almond Valley Seafield & Esk) Scottish Water.
Provide sludge treatment and disposal
Daldowie services to Scottish Water.
Provide waste water services to
Dalmuir Scottish Water.
Provide waste water and sludge
Highland treatment services to Scottish Water.
Provide waste water and sludge
treatment and disposal services to
Levenmouth Scottish Water.
Provide waste water and sludge
treatment and disposal services to
Moray Scottish Water.
Provide waste water and sludge
treatment and disposal services to
Tay Scottish Water.
Provide waste water and sludge
MSI (Meadowhead, Stevenston, treatment and disposal services to
Inverclyde) Scottish Water.

 In Response to Question 3

Please see attached (Estimated Payment Profile)

In Response to Question 4

SPV
company
Project Name SPV name number
ABERDEEN ENVIRONMENTAL SERVICES
Aberdeen LIMITED SC202555
AVSE (Almond Valley Seafield &
Esk) STIRLING WATER SEAFIELD LIMITED SC182250
Daldowie SMW LIMITED SC165988
Dalmuir SCOTIA WATER DALMUIR LIMITED 03726270
Highland CATCHMENT LIMITED SC163035
CALEDONIAN ENVIRONMENTAL
Levenmouth SERVICES PLC SC156608
Moray CATCHMENT MORAY LIMITED SC206595
Tay CATCHMENT TAY LIMITED SC186492
MSI (Meadowhead, Stevenston, AYR ENVIRONMENTAL SERVICES
Inverclyde) LIMITED SC198368
link to published data:
Current projects as at 31 March
2018
[2]http://www.gov.scot/Topics/Government/Fi...

 In Response to Question 5

Please see attached document (SPV Name and Registration)

 In Response to Question 6

 Please see below details relating to the Aberdeen project.  

Aberdeen PFI  
   
CIBC WORLD MARKETS PLC Company number 02733036
HALIFAX LIMITED (formerly Halifax plc) Company number 02367076
SUMITOMO MITSUI BANKING CORPORATION EUROPE LIMITED Company number 04684034
BAYERISCHE LANDESBANK Company number FC009267
FMS WERTMANAGEMENT SERVICE GMBH Not Known
KBC BANK Company number FC021246
LLOYDS BANK PLC (formerly Lloyds TSB Bank plc) Company number 00002065
NORDDEUTSCHE LANDESBANK GIROZENTRALE Company number FC012190

With regards to all other names projects our aim is to provide information
whenever possible, but in this instance we do not have all the information
you have requested.  Therefore we are refusing your request under the
exception at regulation 10(4)(a) of the EIRs.  The reason why that
exception applies to all projects except Aberdeen, which is now owned by
SW Horizons Holding Ltd, is that the original PFI projects were inherited
by Scottish Water from our predecessor authorities.

In Response to Question 7

With regards to the Aberdeen project the investors of Aberdeen
Environmental Services Limited currently (as of March 2019) estimate the
IRR to be 8.9% pre-tax and 7.1% post tax.

With regards to all other names projects our aim is to provide information
whenever possible, in this instance we do not have the information you
have requested.  Therefore we are refusing part of your request under the
exception at regulation 10(4)(a) of the EIRs.  The reason why that
exception applies is that the actual IRR received by investors is linked
to the actual costs incurred by the PFI Companies and Scottish Water does
not hold this information.

In Response to Question 8

While our aim is to provide information whenever possible, in this
instance we are unable to provide the information you have requested
because an exception under regulation 10(5)(e) (confidentiality of
commercial or industrial information) of the EIRs applies to that
information.  A Scottish public authority may refuse to make environmental
information available to the extent that its disclosure would, or would be
likely to, prejudice substantially the confidentiality of commercial or
industrial information where such confidentiality is provided to protect a
legitimate economic interest:

In this instance the release of any reports undertaken that estimate the
cost of "buying out" each PFI project would result in the commercial
interests of both the consultants and SW being substantially prejudiced.

This exception is subject to the ‘public interest test’.  Therefore,
taking account of all the circumstances of this case, we have considered
if the public interest in disclosing the information outweighs the public
interest in applying the exception.  We have found that, on balance, the
public interest lies in favour of upholding the exception.  We recognise
that there is some public interest in release as part of open, transparent
and accountable company, and to inform public understanding. However, this
is outweighed by the strong public interest in maintaining the right to
confidentiality of this sensitive information

If you have any queries regarding your FOI request please feel free to
contact me and I will be happy to assist. You can do this by contacting
the following email address [email address]

You can seek a review of this response within forty working days and
thereafter appeal to the Scottish Information Commissioner.

Further information on the appeals procedure can be obtained from the
attached document and the Commissioner's website at
[3]www.itspublicknowledge.info/Appeal.

Yours sincerely

Margaret Hopkins

FOI Officer

Customer Experience Reporting
Buchanan Gate Business Park
Cumbernauld Road | Glasgow | G33 6FB

Tel: 0141 483 0691 

[mobile number]

[4][email address]

Scottish Water - Trusted to Serve Scotland

The information disclosed to you is prepared for Scottish Water's internal
purposes only and in relation to Scottish Water's operational requirements
at the time of preparation of the disclosed information.  Scottish Water
accepts no responsibility or liability for any use of, or reliance upon,
the disclosed information, howsoever arising.  Scottish Water hereby gives
notice that the disclosed information, represents the opinion/ position/
forecast/ analysis/evaluations/projections/views/situation at a point in
time and the aforementioned
opinion/position/forecast/analysis/evaluations/projections/views/situation
may become outdated/inaccurate/incomplete within a short space of time
after the date of the disclosed information being compiled.  Apart from
compliance with intellectual property laws (dealt with below), any use of
the disclosed information is entirely at your own risk and no warranty is
given in relation to fitness for any particular purpose, accuracy or
completeness. 

FREEDOM OF INFORMATION GIVES YOU A RIGHT TO READ THE INFORMATION FOR YOUR
PERSONAL USE.  THE DISCLOSED INFORMATION MAY CONTAIN INTELLECTUAL PROPERTY
RIGHTS, SUCH AS COPYRIGHT.  ACCORDINGLY, IF YOU WANT TO RE-USE THE
INFORMATION, YOU SHOULD ENSURE THAT YOU HAVE RELEVANT PERMISSIONS TO DO SO
FROM THE OWNERS OF INTELLECTUAL PROPERTY RIGHTS.

Privileged/Confidential information may be contained in this Email and any
files transmitted with it. If you are not the intended recipient you
should not retain, copy or use this Email for any purpose or disclose all
or part of its contents to any person. If you have received this Email in
error please notify the sender immediately and delete this Email from your
system.

Opinions, conclusions and other information in this message that do not
relate to the official business of Scottish Water ("SW"), Scottish Water
Horizons Ltd ("SWH"),Scottish Water International Ltd ("SWI") or Scottish
Water Solutions 2 Ltd ("SWS2") shall be understood as neither given nor
endorsed by them. The contents of Emails sent and received by SW, SWH, SWI
and SWS2 are monitored.

WARNING: Although SW, SWH, SWI and SWS2 have taken reasonable precautions
to ensure no viruses or other malicious software are present, SW, SWH, SWI
and SWS2 cannot accept responsibility for any loss or damage arising from
the use of this Email or attachments however caused. The recipient should
therefore check this Email and any attachments for the presence of viruses
or other malicious software.

Scottish Water

[5]www.scottishwater.co.uk

References

Visible links
1. http://www.gov.scot/Topics/Government/Fi...
2. http://www.gov.scot/Topics/Government/Fi...
3. http://sut1.co.uk/sLJ85vvXsn4Tubvajtvcoq....
4. mailto:[email address]
5. http://www.scottishwater.co.uk/