CLEAN ENERGY FUND (SMART LOCAL ENERGY) FULL BUSINESS CASE
To consider
the report.
Decision:
1.
To approve the Full Business Case for the Clean Energy Fund, Fund
Management Plan including Investment Strategies and the Delegated Decision
Matrix for the project.
2.
Approve the Delegated Decision Matrix for the project.
3.
To delegate to the Portfolio Director, in consultation with the Chair,
the Vice-Chair, the Section 151 Officer and the Monitoring Officer to confirm
the completion of the matters not identified in section 7 and to agree the
formal launch of the Fund.
4. That the Economic Well-being Sub-Committee appoints the Portfolio
Director to be the accountable officer for the delivery of the project.
5. To approve that capital repaid during the operation of the fund be
earmarked for the Sub-Reserve to be reinvested in accordance with the
Investment strategies. Approve that surplus revenue generated by the project
once operating costs have been paid is allocated to fund the operation of the
Portfolio Management Office.
6. To request a further update in 6 months' time in order
to review relevant partnerships.
Minutes:
The report was
presented by the Head of Operations and the Energy and Net Zero Project
Manager.
RESOLVED
1.
To approve the Full
Business Case for the Clean Energy Fund, Fund Management Plan including
Investment Strategies and the Delegated Decision Matrix for the project.
2.
To approve the Delegated
Decision Matrix for the project.
3.
To delegate to the
Portfolio Director, in consultation with the Chair, the Vice-Chair, the Section
151 Officer and the Monitoring Officer to confirm the completion of the matters
not identified in section 7 and to agree the formal launch of the Fund.
4.
That the Economic
Well-being Sub-Committee appoints the Portfolio Director to be the accountable
officer for the delivery of the project.
5.
To approve that capital repaid during the operation
of the fund be earmarked for the Reserves Sub-fund to be reinvested in
accordance with the Investment strategies. To approve that surplus revenue
generated by the project once operating costs have been paid is allocated to
fund the operation of the Portfolio Management Office.
6.
To request a further
update in 6 months' time in order to review relevant
partnerships.
REASONS FOR THE DECISION
To seek the Sub-committee's approval of the
full business case for the Clean Energy Fund Project.
DISCUSSION
The Report was discussed.