Published date: 29 November 2023

Awarded contract - This means that the contract has been awarded to a supplier.


Closing: 10 May 2022, 12pm

Contract summary

Industry

  • Financial consultancy services - 66171000

Location of contract

SW1A 2AW

Value of contract

£7,500,000

Procurement reference

tender_303525/1246497

Published date

29 November 2023

Closing date

10 May 2022

Closing time

12pm

Contract start date

11 May 2022

Contract end date

10 May 2025

Contract type

Service contract

Procedure type

Call-off from a framework agreement

A mini-competition or direct purchase from a pre-established framework agreement.

Contract is suitable for SMEs?

No

Contract is suitable for VCSEs?

No

Description

This is a variation of an existing contract between Barclays and the Department for Energy, Security and Net Zero (DESNZ).

The existing scope of the contract is the provision of financial advisory services to i) assess, input, and challenge the design, management and execution of SZC's capital structure and fundraising process; and ii) provide advice in relation to key judgements and decisions that will be required from HMG in order for it to execute its policy objectives and make sound investment decisions that represent VfM for the taxpayer.

DESNZ is amending the contract's scope to increase the scope of Barclay's work and responsibilities in relation to the capital raise process. The variation will include a 50% cost increase of £2,500,000 and time extension of 12 months to 10/05/2025.

- Original award total: £5,000,000 excluding VAT
- Variation 1: £2,500,000 excluding VAT
- Variation 2: Minor scope variation for this contract to fund an increased role in the capital raise process.
- Variation 3: Original end date: 10/05/2024 New end date: 10/05/2025
- Modified award total: £7,500,000 excluding VAT

More information

Attachments

Award information

Awarded date

11 May 2022

Contract start date

11 May 2022

Contract end date

10 May 2025

Total value of contract

£7,500,000

This contract was awarded to 1 supplier.

Barclays Bank Plc

Address

1 Churchill Place, London, E14 5HP

Reference

Companies House number: 9740322

Supplier is SME?

No

Supplier is VCSE?

No

About the buyer

Address

3-8 Whitehall Place
London
SW1A 2AW
England

Email

Adejumoke.Adetunji@energysecurity.gov.uk