Scotland scrabbles for Green Investment Bank

Scotland’s energy minister and top business bodies are making a last-ditch push to win the Green Investment Bank. The Bank is the Government’s newest lending body and will have £3 […]

Register now!

By Vicky Ellis

Scotland’s energy minister and top business bodies are making a last-ditch push to win the Green Investment Bank.

The Bank is the Government’s newest lending body and will have £3 billion to give out in loans to green infrastructure projects. It is set to begin investing from April this year. Dozens of British cities have put forward applications to be the Bank’s headquarters.

Scottish Energy Minister Fergus Ewing believes Scotland’s capital is the “only location in the UK which brings together both finance and the clean energy industry in a single location.”

He said: “It has an unrivalled concentration of industry skills and experience… I believe the bid put forward by the Edinburgh Green Investment Bank Group secures Edinburgh’s place as the front runner in this competition and urge Vince Cable to choose it as the headquarters for the new Green Investment Bank.”

The bid has already secured support from Edinburgh and Glasgow City Councils, as well as the Energy Technology Partnership, which represents universities all over Scotland.