Purpose

To grant authority to continue pursue the project through to construction - noting updated configuration and cost due to battery storage addition.

Decision

That the Executive

1)    grants approval to increase capital expenditure from £4.2m included in the current MTFP capital program to £5.79m, funded from borrowing, to facilitate the inclusion of battery storage and replacement chargers as part of the project.

2)    approves the delegation of decisions for the final design, and configuration to the authority the Deputy Chief Executive (S151 Finance Officer) in conjunction with the Executive Member for Finance and the Executive Member for Climate Emergency, Community Safety and Public Protection;

3)    notes the estimated minimum net income (after running costs and capital financing costs) of £0.400m per annum, but with an expectation of this achieving £15.47m over 25 years (equal to £619k per year on average). These incomes will be introduced into the Councils annual budget and monitored through usual budget reporting and MTFP setting process.