Three years after being appointed preferred bidder to purchase the former Stag Lane tip and develop a bio mass plant on it, Real Ventures Ltd have today announced they are withdrawing from the project.
The announcement comes on the day the new Isle of Wight Cabinet is due to consider extending the preferred bidder status.
Already had two extensions
As reported through OnTheWight at the time, the preferred bidder option was then extended for 15 months in 2011 and then a further 12 months in 2012 (read the full background).
Yesterday, a petition of over 1,000 signatures calling for a full public consultation of the biomass plant was handed to the Isle of Wight council.
The Isle of Wight based company, headed by Michael Hammond, Ray Tucker and John Gallimore received the go-ahead for a plant in Lincolnshire last year.
CEO of Real Ventures Ltd, Ray Tucker told the CP,
“The decision to withdraw from Stag Lane has been made after very careful consideration and solely on the basis of Real Venture’s project portfolio.
“I don’t think the Stag Lane site is unsuitable for biomass and that it can’t be done. It’s just it’s a tricky site.
“Given the choice between a tricky site and an easier site, what would you do, and there are lots of easier sites available.”
Tanja Rebel from campaign group, Wight Biomess, said,
“Wight Biomess is over the moon with the decision of Real Ventures to withdraw its application for a Biomass Plant along the river Medina.
“We hope that the Isle of Wight Council now safeguards the river for the long-term future as the sensitive and beautiful eco-habitat that it is.”
