Purpose

Next steps regarding investing in
green energy initiatives.

Content

(Key
decision):
1)   
To delegate authority to the Deputy Chief Executive,
in conjunction with the Chief Finance Officer and Cabinet member
for Finance, Assets and Community Wealth Building, to provide up to
£500,000 to OVESCO for pre-construction finance to enable
milestone payments to be made on the grid connection offer prior to
full financial close, made in the form of loan secured against the
development rights of the scheme.
2)   
To delegate authority to the Deputy Chief Executive
to continue feasibility and procure appropriate specialists to
undertake due-diligence work as required for the project outlined
in Section 2 of the Cabinet report, up to a value of £125,000
from revenue funds.