Decision details

Proposal to make policy loan in Wilmington Farm Solar Array by Bath and West Community Energy.Decision subject to due diligence.

The decision was Called-in.  The Call-in was considered by the Resources PDS Panel at its meeting on Monday 29^th September. The Call-in was dismissed, so the decision will now take immediate effect.

(1) To AGREE in principle to make the loan of £500K into the Wilmington Farm Solar Array, subject to due diligence; and

(2) To AUTHORISE the Divisional Director for Strategy & Performance, in consultation with the Cabinet member for Resources, to authorise the loan once satisfied that due diligence has been completed and subject to relevant terms and conditions.

·  BWCE are the only organisation delivering such projects in B&NES, with a community benefit model, and with a current pipeline of projects that can be delivered in time.

·  There are no other organisations based in B&NES that offer both the ability and track record to deliver community based renewable energy projects or the commitment to investing all surplus profit into a Community Energy Fund for reinvestment in local energy projects.

·  The Green Investment & Jobs Fund was agreed by Council with the intention of making a policy loan investment in 2014/15. As there is significant lead-in time required to develop a renewable energy project the Wilmington Farm scheme developed by BWCE provides an opportunity that fits with this timetable.

·  The Council has renewable energy targets in the Core Strategy and this scheme will contribute to meeting those targets whilst also providing positive encouragement for future renewable energy schemes to be developed.

There is a significant lead-in time required to develop renewable energy schemes to a point at which a policy loan could be applicable. In order to make this policy loan investment in 2014/15 no other options were available to consider.