Details of a £60m green energy investment by Warrington Council will remain under wraps despite being called in by opposition councillors.
Senior Labour councillors have given the go-ahead to proceed with a £63.5m ‘ethical investment’ in a solar farm in Doncaster, to be funded by borrowing.
Warrington said it has taken advice from experts including EY and carried out due diligence, but details have remained confidential.
Conservative councillors have labelled the investment ‘highly risky’ and called in the decision.
They have voiced frustration that a scrutiny meeting later this week where the investment will be discussed is expected to be held behind closed doors.
Opposition leader Nigel Balding said: ‘This gamble equates to £600 per household in Warrington or approximately 58% of the council tax raised in any one year.
'Anything like this can have a massive and long-lasting impact on Warrington residents.’
Last week it was revealed Warrington had budgeted for an £18m loss from its investment in failed energy firm Together Energy.