Date lodged: 6 February 2019
To ask the Scottish Government, further to the answer to question S5T-01462 by Aileen Campbell on 29 January 2019 (Official Report, c. 3), what due diligence of Our Power was carried out, and whether Audit Scotland plans to review this.
Answered by: Aileen Campbell 5 March 2019
The Scottish Government made commercial decisions about its support for Our Power based upon due diligence. These decisions were made alongside other lenders as part of a Securities Trust. The due diligence undertaken included obtaining independent expert advice about the commerciality, value for money and financial risk associated with the investment. The Scottish Government also took independent legal advice from solicitors specialising in commercial practice.
The Auditor General for Scotland is responsible for the annual audit for the Scottish Government and the wider work programme delivered by Audit Scotland.