Santee Cooper

Dept of Admin Awards Contracts

Santee Cooper project

July 30, 2019 - 10:35 am

The South Carolina Department of Administration issued the following press release Tuesday.

COLUMBIA, S.C. — Through a competitive procurement process and in compliance with Public Service Authority Joint Resolution (Act 95 of 2019), which concerns the future of the South Carolina Public Service Authority, otherwise known as Santee Cooper, the South Carolina Department of Administration (Admin) has awarded contracts to the following vendors:

Moelis & Company LLC, in the capacity of lead financial advisor. (Merger and acquisition and corporate advisory services)

Gibson, Dunn and Crutcher LLP, in the capacity of legal advisor.

Energy + Environmental Economics (E3), in the capacity of market advisor. (Utility policy advice and consulting services)

These vendors will serve as consultants to Admin, providing professional services to perform duties outlined in the Joint Resolution.

The legislation prescribes on behalf of the citizens of South Carolina, a competitive process to solicit strategic proposals for Santee Cooper including a sale of all or a portion of Santee Cooper to a third party, a management agreement for a third party to operate Santee Cooper and a restructuring proposal to be submitted by Santee Cooper itself. As mandated by the legislation, the process Admin and its advisors will execute will be designed to present proposals to the legislature for consideration by Jan. 15, 2020.

On behalf of the state, Admin and its advisors are committed to executing a thorough and open process consistent with the Joint Resolution’s requirements.

Admin will post procurement related documents to at various points throughout the process.

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