The project has made considerable progress over the last six months and Arup has now completed the ROI analysis and reported its findings. In summary the analysis shows that even with a 25% cost uplift over diesel pricing, the ROI period would be 11.7yrs.
The project is therefore financially unattractive for Film London to fund on a 100% basis. Victoria Park has been identified by the Arup feasibility study as a pilot site. We would like to deliver a pilot at Victoria Park to test the cabinets, refine the model including the process of booking and servicing them to take then learnings on board before we roll them out to further sites in London. We are in the process of applying to Interreg Europe for Pilot Action funding for this site.
The GLA Good Growth Fund (GGF) has been identified as a potential source of finance for the generalisation. The GGF can fund up to 50% of the total project value leaving Film London to match fund the balance. Two further unit-bases (Battersea Park and The Mall North Horse Ride) have been selected for the roll out. Both sites have sufficient production demand but where difficulties with planning consent are less likely to be encountered.