Source: Blue and Green Tomorrow
The government has unveiled plans to sell a stake in the Green Investment Bank. The decision has bee met with some criticism despite claims it will increase the volume of capital the bank has available to support green projects.
It is still unclear how much of the bank the government might sell and at what price. The move is part of the government’s programme to sell off assets in order to pay down the deficit.
UK business secretary Sajid Javid commented, “The Green Investment Bank has shown that investment in green technologies can be a profitable business. The challenge now is to build on this success.
“The bank will still be green, still be profitable, still be a market-leader in financing environmentally sound infrastructure. But free from limitations on where it can borrow money and EU regulations on state aid, the bank will be able to access a much greater volume of capital.”