Ahead of the launch of the UK government’s flagship Green Investment Bank (GIB), Business Secretary Vince Cable today announced an £80 million investment in green infrastructure projects.
The funds will go to two specialist fund managers in the Department for Business, Innovation and Skills (BIS), who will make investments in small-scale waste infrastructure projects such as energy-from-waste, waste recycling and reprocessing.
The individual investments, which are not expected to exceed £15 million, will be match-funded, leveraging at least another £80 million in total investment.
The government is also making a further £100 million investment available for the non-domestic energy efficiency sector.
A competition for fund managers to work on the energy efficiency fund was announced last month and the winners will be announced in the summer.
“These first investments are a landmark moment,” says Cable. “They represent a great opportunity to unlock substantial commercial investment in green technologies and infrastructure.”
The investments are being made while the government awaits state aid approval for the GIB.
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Article source: http://www.energyefficiencynews.com/i/5049/