Amberside Advisors to provide assurance services on £3bn Haweswater Aqueduct Resilience Programme

Amberside Advisors has been jointly appointed by United Utilities and Cascade Infrastructure Ltd to provide regulatory and financial modelling assurance for the circa £3 billion Haweswater Aqueduct Resilience Programme (HARP) — the first major infrastructure project to be delivered under Ofwat’s new Direct Procurement for Customers (DPC) model.

The landmark scheme, whose financial close was announced in August 2025, will see the full refurbishment of the 110-kilometre Haweswater Aqueduct, which transports around 570 million litres of drinking water every day from the Lake District to more than 2.5 million customers across Cumbria, Lancashire, and Greater Manchester. Originally constructed between 1933 and 1955, the 70-year-old aqueduct is being upgraded to safeguard reliable, high-quality water supplies for future generations.

The contract, delivered under the DPC framework, has been awarded by United Utilities to Cascade Infrastructure Ltd — a joint venture between Equitix and STRABAG, with investment from GLIL Infrastructure, the pension fund representing London and Lancashire public sector workers. Cascade Infrastructure Ltd will design, build, finance, and maintain the new aqueduct sections over a 25-year period. Construction, led by STRABAG UK, is expected to begin in 2026, with the build phase planned to run over nine years, creating up to 1,200 jobs at peak and supporting a comprehensive apprenticeship programme across the North West.

The project has also received a £300 million Credit Enhancement Guarantee from the National Wealth Fund, helping to mobilise private investment and underpin the delivery of this nationally significant infrastructure.

Amberside Advisors’ role

Amberside Advisors’ appointment reflects its proven ability to deliver high-quality regulatory and financial assurance for complex, multi-party infrastructure projects. The Amberside team is tasked with providing an independent review and assurance of project charges, as well as related finance costs incurred by Cascade Infrastructure Ltd during the construction phase.

This independent review and assurance will be conducted periodically and may include additional assurance activities as required. Amberside Advisors’ work will ensure alignment with DPC regulatory requirements and the associated contractual arrangements.

Neil Rutledge, Director at Amberside Advisors, commented:

For this first project delivered through the DPC model, Amberside Advisors is delighted to have been selected to deliver the high-quality assurance services essential to proving the DPC concept in practice. We recognise that the essential upgrade of the UK’s infrastructure requires new delivery models, and our prior experience in project finance modelling, combined with our assurance capabilities, made us a natural partner for an appointment agreed jointly by United Utilities and Cascade Infrastructure Ltd.

Amberside Advisors brings extensive experience in providing revenue direction and financial assurance services across pioneering infrastructure delivery models. This includes work on the £5 billion Thames Tideway project — the first scheme delivered under Ofwat’s Specified Infrastructure Project Regulations — and the first revenue direction for new transmission assets connecting Hinkley Point C to the grid, a key precursor to Ofgem’s forthcoming Competitively Appointed Transmission Owner (CATO) programme.

Through its appointment to HARP, Amberside Advisors continues to support innovation and value for money across UK infrastructure investment, helping to build confidence in new models that deliver sustainable, resilient assets for the future.