UK’s £2.3bn Green Investment Bank sale completed

The UK Government has officially transferred ownership of the Green Investment Bank (GIB) to its new private sector owners. Australian bank Macquarie has now taken over the bank, headquartered in Edinburgh, in a £2.3 billion deal, which previously drew criticism from some politicians and environmentalists. The government however decided that moving the GIB into the […]

Central Asia needs $94bn power investment by 2023

Central Asian countries have identified power investment needs of about $94 billion (£77.30bn) by 2023. The private sector will need to provide about $38 billion (£31.25bn) of this money, according to a new Asian Development Bank (ADB) study. The findings were presented at the 1st Energy Investment Forum (EIF) of the Central Asia Regional Economic Cooperation […]

£150m efficiency boost for UK construction industry

The Government has pledged that up to £150 million will be invested in the UK construction industry to help develop more energy efficient buildings. The Technology Strategy Board (TSB) will invest £60 million over the next five years to support the design and development of buildings which use less energy. The Government expects the figure […]

$20m for US research into energy efficient lighting

Five manufacturing projects to support research and development into energy efficient lighting products has been launched in the US. The Department of Energy is providing $10 million (£6.45m) worth of investment, with the same amount matched by private sector funding. The projects will focus on cutting manufacturing costs while improving the quality and performance of […]

UK’s Green Investment Bank open for business

The UK’s Green Investment Bank (GIB) has officially been declared open as new details of its first investments are announced. Funded with £3 billion of Government money, the GIB is designed to encourage private sector investment in the UK’s transition to a green economy. Speaking in Edinburgh where the new bank is headquartered, Business Secretary […]

Private sector “vital” to going green

The private sector can play a key role in tackling environmental challenges, according to a new strategy for sustainable development from the World Bank. The lending body which gives money to governments has released its Environment Strategy for 2012-2022, laying out a vision for “a green, clean and resilient world for all”. Challenges such as […]

Gas and nuclear get backing from PM

David Cameron has confirmed the future of UK energy is likely to be dominated by gas and nuclear. Speaking at the Institute of Civil Engineering on national infrastructure he said his Government was planning a “bold transformation”, which would suit investors looking for certainty. The energy industry has been begging for more certainty around future […]