Investment - Articles - Government makes landmark green investment


 Business Secretary Vince Cable today announced a landmark investment in green infrastructure by the Government.

 A total of £80 million has been committed to two specialist fund managers - who will make and manage investments in the small scale waste infrastructure sector - by a specialist team within the Department for Business, Innovation and Skills (BIS).

 All BIS investments made by the fund managers will be match-funded, leveraging in at least £80 million more to the projects.

 The Government is investing directly, on fully commercial terms, ahead of obtaining state aid approval for the UK Green Investment Bank (GIB).

 The fund managers will be responsible for generating and managing investments in areas such as waste recycling and reprocessing facilities, pre-treatment projects and energy-from-waste projects.

 Business Secretary Vince Cable said:

 "These first investments are a landmark moment. They represent a great opportunity to unlock substantial commercial investment in green technologies and infrastructure. The Government has committed to setting the UK firmly on course towards a green and growing economy and today is another important step in that direction.

 "Investing directly now shows that we are not just sitting on our hands while we wait for the UK Green Investment Bank to receive state aid approval."

 An initial fund of £50 million will be managed by Foresight Group and an initial fund of £30 million by Greensphere Capital. The maximum amount of individual investments is not likely to exceed £15 million.

 The Government will also make a further £100 million available for investment in the non-domestic energy efficiency sector. A competition was launched last month for fund managers interested in working with BIS on this. The outcome of the competition will be announced in the summer.
  

Back to Index


Similar News to this Story

Targeted Support major step towards addressing support gap
Targeted Support is poised to play a pivotal role for potentially millions of non-advised individuals. Non-advised could be supported with at retireme
FCA proposals for millions to navigate their financial lives
Millions more people could get help navigating their financial lives with support on pensions and investments, under proposals announced today by the
Comments on FCA proposals on navigating financial lives
Aviva, Just Group, Standard Life, Scottish Widows and the ABI comment on FCA proposals on navigating financial lives

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.