Cwm Taf Water Supply Strategy Procurement Scheme - Direct Procurement for Customers (DPC)

Market Engagement – Investors and Lenders

DCWW wishes to engage with organisations that are infrastructure investors, lenders or other providers of institutional capital with experience of financing major infrastructure projects.

Investors, lenders or other providers of institutional capital wishing to provide feedback on the emerging commercial model, financing approach and financeability of the Cwm Taf WSS Procurement Scheme should register their interest by emailing [email protected] no later than 4 August 2026.

Registered participants will be issued with a questionnaire for completion and return by the response deadline which will be set out in the questionnaire. Following review of questionnaire responses, DCWW will consider responses and may, at its discretion, engage in one-to-one discussions to explore and clarify matters raised in their submissions and obtain further feedback on key commercial, contractual and financing issues.

Who Should Participate

-Providers of debt and equity finance

-Developers and sponsors

in each case in major new infrastructure projects.

To promote transparency and ensure equal treatment of all market participants, DCWW intends to share an anonymised summary of key themes and insights arising from this focused Market Engagement with the wider market in advance of the Market Engagement events referred to below. No organisation-specific information will be disclosed.

Market Engagement – Wider Market

DCWW intends to hold in-person Market Engagement events open to the wider market – whether investors, lenders, contractors, designers and other delivery organisations - interested in the Cwm Taf WSS Procurement Scheme.

The events will provide an update on the Cwm Taf WSS Procurement Scheme, the proposed procurement approach, commercial model, contractual framework and financing strategy, and will provide an opportunity for participants to ask questions and provide feedback on the developing procurement and commercial arrangements.

Details of the event format, indicative agenda, locations and registration arrangements are set below.

Who Should Participate

-Infrastructure investors and major infrastructure financing bodies

-Design, construction and engineering firms

-Contractors and other delivery organisations

DCWW welcomes participation from existing joint ventures and consortia and encourages the formation of new partnerships where appropriate.

Market Engagement Event Dates and Locations

DCWW intends to hold in-person Market Engagement events at the following locations:

-Cardiff – 8 September 2026, time TBC

-London – 9 September 2026, time TBC

Organisations wishing to attend should register by 10 August 2026. Further details, including venue information and the final agenda, will be provided to registered participants.

The Market Engagement events are expected to comprise presentations and opportunities for market participants to engage in discussions and provide feedback on the developing procurement, commercial, contractual and financing approach for the Cwm Taf WSS Procurement Scheme.

For further information, market participants should register via the contact details below.

Registration Process

Please email [email protected] to register your interest in either:

-the focused investor/lender Market Engagement; and/or

-the in-person Market Engagement events.

DCWW will provide further details regarding participation, key dates and engagement materials following registration.

When emailing, please include one of the following subject lines to indicate your preferred engagement activity:

-Registration – Investor/Lender Market Engagement

-Registration – In-Person Market Engagement Event

-Registration – Investor/Lender and In-Person Market Engagement Events (if registering for both)

Purpose of this Notice and Previous Engagement

Since the previous market engagement, DCWW has continued to develop the commercial, contractual and financing strategy for the Cwm Taf WSS Procurement Scheme. In particular, further consideration has been given to the proposed CAP Agreement structure, risk allocation framework, payment mechanism, financing approach and procurement strategy. This engagement seeks to obtain market feedback on these.

Topics for Feedback/Discussion

Topics that DCWW is seeking market feedback on include:

-CAP Agreement structure and contractual framework

-Commercial and risk allocation principles

-Payment mechanism and incentivisation arrangements

-Financing structures and financeability considerations

-Contract duration and residual value approach

-Procurement process design and bidder participation

-Opportunities to improve value for money for customers

Future Market Engagement

This notice covers both the planned investor/lender Market Engagement and the in-person Market Engagement events. DCWW may undertake additional market engagement activities and will update the market as appropriate.

General

Participation in any market engagement activity is not a condition of participation in any future procurement process. DCWW may use information obtained through these engagement activities to refine its procurement strategy, commercial model, contractual arrangements and procurement documentation. Details of the preliminary market engagement activities, documents shared, key themes arising from feedback and any relevant questions and answers will be made available to the market as appropriate and reflected in the procurement documentation issued at the launch of the competitive process.

DCWW reserves the right to alter or terminate the market engagement process at any time without notice.

DCWW is not liable for any costs or expenses incurred by any party in responding to this market engagement.

Submission of a response does not guarantee inclusion in any future procurement process.

DCWW reserves the right to enter into further rounds of pre-market engagement.

All future procurement opportunities will be published through the Central Digital platform (CDP).

DCWW will process your personal data, such as your name and contact details, in accordance with its obligations under the UK General Data Protection Regulation and Data Protection Act 2018. Your personal data will be used for the purposes contacting you for further information and to invite participation in future market engagement activities connected with the Cwm Taf WSS Procurement Scheme only. Any information you provide may be shared with our Cwm Taf WSS Procurement Scheme commercial and or legal advisors.

Further information on the Cwm Taf WSS Procurement Scheme and this market engagement can be found in the supporting press release available at: corporate.dwrcymru.com/en/news-media/2026/w… ↗