Purpose

To consider an update in respect of the tidal barrage project.

Decision

RESOLVED – That in relation to the Mersey Tidal Power Project Update:

(a)        the competition of the Barrage Scheme Options Appraisal (BSOA) and Financial Model Update Report and the findings contained within them be noted;

(b)        the recommendation of the BSOA to remove Alignment A from further consideration and progress Alignment B (Bromborough to Otterspool) as the preferred development corridor for the Mersey Tidal Power Project be endorsed;

(c)         the progression of the preferred Alignment B configuration options for further engineering design, environmental assessment, hydro-environmental modelling and Development Consent Order (DCO) preparation be approved;

(d)        the findings of the Financial Model Update Report that a Regulated Asset Base (RAB) model represents the most credible financing approach currently available for a project of this scale and complexity be endorsed;

(e)        delegated authority be granted to the Executive Director – Place in consultation with the Cabinet Member for Energy and Environment, the Monitoring Officer and the Executive Director of Resources, to progress development activity associated with the preferred Alignment B corridor and preferred financing approach including procurement and commissioning of development, environmental, commercial, engineering, stakeholder engagement and consenting preparation activities.

(f)           that any future decision relating to submission of a DCO application, increase to Combined Authority funding, commitment to a future development phase, project delivery model, construction funding or Final Investment Decision will be subject to a further report and Combined Authority approval be noted.