UK Green Investment Bank plc (GIB) has committed GBP 2.3 billion to 58 green infrastructure projects with a total value of GBP 10.1 billion in its first three years of existence.
Part of the commitments went towards financing of 757 offshore wind turbines in the UK – or 40% of all the turbines currently operating or under construction.
The bank’s largest investment in offshore wind was a GBP 306.5 million commitment to the GBP 1.2 billion Rampion offshore wind farm off the coast of Brighton.
”As this milestone shows, the Green Investment Bank is going from strength to strength and is having a major impact supporting renewable energy projects across the whole of the UK,” Secretary of State for Business, Innovation and Skills Sajid Javid said.
”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.”
This government-owned organisation was established in November 2012 with a mandate to finance innovative UK green infrastructure projects on a commercial basis while ‘crowding in’ private sector capital.