Minutes for next week’s Cabinet meeting reveal that Real Ventures, the preferred bidder for the bio-mass plant at Stag Lane may be given more time for further investigation before contracts are exchanged.
The current ‘preferred bidder status’ expires at the end of April 2011 and according to the report being presented to Cabinet members for consideration next week, contracts have yet to be exchanged in respect of the transfer of the site.
VB readers will remember that Real Ventures Limited were selected as the preferred bidder to take over the Stag Lane Tip site and develop 49 mega watt biomass system back in July 2010.
Eye-spy
The proposed plant is not without controversy. The actions of the Leader of the Isle of Wight council, David Pugh, were questioned by Private Eye earlier this year, after it was revealed that he was planning to ask Government Minister Greg Barker and relative of Cllr Pugh’s fiancé, to get involved.
Why the extension?
We’re told that the reason for the extension is due to further ground tests being required on the site before the Environment Agency will support the development.
A 15 month extension is being recommended.
