Business News • MarketWire • U.K. Creates GBP 2 Billion Green Investment Bank, an Industrial Info News Alert |
U.K. Creates GBP 2 Billion Green Investment Bank, an Industrial Info News Alert |
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U.K. Creates GBP 2 Billion Green Investment Bank, an Industrial Info News Alert
GALWAY, IRELAND--(Marketwire - March 25, 2010) - Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland) -- The United Kingdom plans to kick-start investment in renewable energy projects, particularly offshore windfarms, by revealing plans to create a £2 billion ($3 billion) Green Investment Bank to entice private investors. The new institution was unveiled as part of the U.K.'s budget announcement yesterday by Chancellor of the Exchequer Alistair Darling. Half of the money will come from the government through the sale of a variety of national assets, and private investors will provide the rest. In addition to the Green Investment Bank, the government has opened up a competition worth £60 million ($89.5 million) to modernise the country's ports to attract companies involved in building offshore windfarms.
View More : http://www.marketwire.com/mw/release.do?id=1138304&sourceType=3
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