Posted on: 01/12/2015
The value of projects supported by the Green Investment Bank (GIB) has broken through the £10 billion barrier.
The bank has invested £2.3bn in 58 green infrastructure projects, which together are valued at £10.1bn.
The GIB has worked with nearly 100 co-investors to deliver the projects, making it the most active investor in the UK’s renewable energy and energy efficiency industries.
During the three years since it was setup, the bank has invested in all four UK nations.
Business Secretary Sajid Javid said: “As this milestone shows, the GIB is going from strength to strength and is having a major impact supporting renewable energy projects across the whole of the UK.
“Crucially, it has demonstrated that investing in green technology and our future energy security can be a profitable business and I am sure the coming years will see a significant scaling-up of its operations as it moves into private ownership and mobilises private sector capital.”
Lang Banks, Director of environmental charity WWF Scotland, added: “Providing the GIB with additional borrowing powers could strengthen its ability to deliver more for the environment, but without suitable safeguards protecting its green mission, there's a real risk that the proposed privatisation will undermine its role in unlocking green investment.”
> Read the GIB's announcement