NewEnergyNews: $1.7BIL OCEAN WIND BUY-IN FOR UK GREEN BANK

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    Friday, June 27, 2014

    $1.7BIL OCEAN WIND BUY-IN FOR UK GREEN BANK

    Britain's green bank to launch 1 billion pound offshore wind fund

    Sussana Twidale w/Mark Potter, June 24, 2014 (Reuters)

    “Britain's government-funded bank investing in green energy projects will launch a 1 billion pound ($1.7 billion) fund dedicated to buying stakes in operational offshore wind projects in the country…The Green Investment Bank (GIB) participation is a boost to Britain's offshore wind sector which has seen a series of project cancellations over the past few months…Britain already has 3.6 gigawatts of installed offshore wind capacity but is counting on the development of other wind farms to help it cut carbon emissions in the electricity sector…The Bank hopes the fund will help attract new investors to the offshore wind market such as sovereign wealth funds and pension funds…The GIB is already a major investor in offshore wind…” click here for more

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