Loans to Our Power Community Benefit Society Ltd update: FOI release

FOI reference: FOI/19/00841  
Date received:  23/03/2019
Date responded: 18/04/2019

 

"The Scottish Government provided three loans to Our Power Community Benefit Society Ltd. in 2015, 2017 and 2018. The total value of the loans was £9,050,000.00 and this was drawn down by the company as 15 payments over four years."

I would be grateful for an update on the status of these loans. How much, if any, do you anticipate being able to recover?

And how much will be written off in your accounts for the year ended 31 March 2019?

 

The answer to your questions are that:

The Scottish Government does not have an estimate for the final value of the recovery.  The final amount recovered will be subject to the outcome of the ongoing administration of Our Power Community Benefit Society Ltd. and its’ subsidiary Our Power Energy Supply Limited.

The Scottish Government has not yet determined the amount of a write off to be included in the 18-19 accounts.

 

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