1. Cabinet authorised the Executive Director for Growth and Regeneration in consultation with the Cabinet Member for Energy, to procure the purchase of and enter into contracts for the delivery of a Water source heat pump led energy centre at Castle Park Depot.
2. Cabinet approved the allocation of £6.21m (funded from prudential borrowing) for the next phase of the works, along with the re-allocation of £1.55m from the St Paul’s Heat Network Scheme (prudential borrowing).
3. Cabinet authorised the Executive Director for Growth and Regeneration, in consultation with the Cabinet Member for Energy, the Cabinet Member for Finance, and the Chief Finance Officer, to apply for and accept government revenue and capital grant funding of up to (but not limited to) £11.8m including Renewable Heat Incentive funding, and Heat Network Investment Project capital grant funding from the Department of Business, Energy & Industrial Strategy.
4. Cabinet authorised the Executive Director for Growth and Regeneration, in consultation with the Cabinet Member for Energy, to procure and enter into contracts for delivery of all goods, works and services (including associated operation and maintenance contracts) referenced in Appendix A to this Cabinet Report to the value of £26.23 million.
5. Cabinet noted that, if accepted, the Heat Network Investment Project grant award must be held by a special purpose vehicle rather than the Council, and that a further report will come back to Cabinet for approval to establish such special purpose vehicle. This report is planned for November 2019.
6. Cabinet noted that the total value of the delegated authority from this and previous cabinet reports, which including Grant funding (if awarded) and prudential borrowing and connection charges total £26.23m. This increase is due to additional grant funding being sought in addition to an increase in connection fees expected.