Decision

That the Cabinet
reconfirms the following decision made on 15 April 2025:
 
That the following
decision of Cabinet made on 11 June 2024 be rescinded:
 

‘that the Chief Executive in consultation with the Leader of
the Council, Finance Director and Cabinet Member for Finance should
review and agree the final business plan after the EPC tender and
Power Purchase Agreement (PPA) stage are complete and subject to
that agreement is then authorised to agree and finalise the
detailed terms and enter into contract with South West Water (SWW)
or another purchaser of the electricity.’; and
 

That subject to the above, authority be delegated to the Director
of Finance, in consultation with the Cabinet Member for Place
Development and Economic Growth, to agree and finalise the detailed
lease terms, in line with an independent market valuation, and
enter into a long lease for the land
edged red as set out in Appendix 1 to the submitted report.
 
And modifies the
following:
 

That the decision of the Cabinet to recommend the following to
Council be rescinded (Minute 116 refers) and that the report be
withdrawn from the Adjourned Annual Council Meeting on 15 May
2025:
 

“That Cabinet recommends to Council:

 

That the following decision of Council made on 18 July 2024 be
rescinded:

 

‘that up to £2,750,000 of
prudential borrowing be approved subject to securing a unit rate
per MWh that exceeds the loan repayments, covers projected
maintenance and other operational and equipment replacement costs
and provides an appropriate surplus per annum over the life of the
scheme commensurate with level of risk.’”