Decision details

RESOLVED:

(i)  That the latest commercialisation position, in particular the procurement outcome, the affordability position, sensitivities undertaken, and the financial risk assessment be noted, and that it be agreed to proceed with the delivery of the project;

(ii)  That delegated authority be granted to the Acting Chief Executive in consultation with the Cabinet Members for Resources and Climate Change, Planning & Housing to sign any contractual arrangements associated with additional Heat Network Investment Project (HNIP) funding set out in section 3.5.3, of the report, subject to satisfactory conditions being agreed;

(iii)  That the prudential borrowing of £8.7m required to fund the Council’s investment into the ESCo be agreed;

(iv)  That the delivery programme of the Energy Network to the Council and external customers be noted;

(v)  That the draft Business Plan April 2023 – April 2028 as set out in Appendices 1 and 2 of the report be endorsed;

(vi)  That it be agreed to endorse Solihull Energy Limited entering into a contract with Vital Energi Limited as the Design, Build, Operate and Maintain (DBOM) contractor on the basis that it is confirmed to the Leader of the Council and the Cabinet Members for Resources and Climate Change, Planning & Housing, as advised by the Director of Economy and Infrastructure, that the conditions set out at paragraph 4.7.10 (c) of the report were achieved; and

(vii)  That the Resources and Delivering Value Scrutiny Board recommendation be noted and Cabinet agreed to establish a shareholder panel.