Green Investment Group funnels £1.6bn into clean energy projects

The Green Investment Group made or arranged £1.6bn of investments in clean energy projects in the 12-months following its privatisation, according to the company's first annual progress report.

The group was involved in 10 new transactions over the period relating to offshore wind and energy-from-waste projects in the UK, onshore wind projects in the US and Sweden, and solar projects in India.

The group’s global head, Mark Dooley, said: “It’s been an outstanding inaugural year for the Green Investment Group.

“We’ve expanded our global footprint, developed innovative investment solutions and continued to support the technologies which will remain a driving force behind the global energy transition.

“While we expand our global reach alongside the scope of expertise and services we offer, our role remains simple and unchanged – we want to make new green energy projects happen.

“Our first progress report demonstrates our commitment to reporting on our activities as we pursue our mission and bring our exciting pipeline of projects to reality.”

The organisation was set up by the government as the Green Investment Bank in 2012. It was rebranded as the Green Investment Group after being sold to Macquarie for £2.3bn in August 2017.

There was widespread opposition to the sale due to concerns the bank was being sold for too little, could be broken up and stripped of its assets and might abandon its environmental mission.

Tom Grimwood

This article first appeared on edie sister title’s website, Utility Week

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