Green Investment Bank warm up act gives cash to waste processing

A waste processing plant in Dagenham became the first project to bag cash from the precursor to the Government’s Green Investment Bank’s (UK GIB) yesterday. Business Secretary Vince Cable announced £2million of public money will go to help fund the £21million plant. The money will come from the UK Waste Resources and Energy Investments (UKWREI) […]

Cash for oil and gas or green energy?

At the British Business Embassy, Chancellor George Osborne and  Business Secretary Vince Cable lay out a clear role for gas, while ELN reporter Priyanka Shrestha finds out if the UK will be able to attract enough investment – and why other ministers are so keen on renewables.

Biorenewables research centre opens in York

The medieval city of York, famous for its Minster (pictured) is now home to a research centre which looks into developing chemicals from renewable sources. Based at the University of York, the facility will give firms and academics a place to test, develop and scale up biorefining processes. Biorefining is a way of processing biomass […]

Green Investment Bank appoints top directors

BIS has today announced the appointment of the UK’s new Green Investment Bank’s top directors. Lord Smith of Kelvin will be the Chair of UK Green Investment Bank plc and Sir Adrian Montague has been appointed as Deputy Chair and Senior Independent Director. Both have experience with power and utilities as well as strong financial […]

Government invests ahead of green bank approval

The Government has committed £80 million to green project financing ahead of the approval of the Government’s flagship Green Investment Bank. Two specialist fund managers will manage investments in the small scale waste infrastructure sector. All investments made by fund managers from Foresight Group and Greensphere Capital will be match-funded, bringing another £80 million more to […]

Where should compensation for climate change policies go?

BIS is calling for evidence from businesses affected by rising energy prices as a result of climate change policies to help the Government target funds from the Energy Intensive Industries (EII) Package. Last year it was announced energy intensive users will get a £250 million package from the Government to counter rising electricity bills. It […]

Edinburgh lands Green Investment Bank

Edinburgh (pictured) will become the headquarters for the Government’s new Green Investment Bank, the Department for Business announced today. The bank will however be split, with the main transaction team located in London. The Department for Business said this move was made in order to “harness the strengths” of both cities. Business Secretary Vince Cable […]

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 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 […]

Scottish MPs demand Scottish green bank

A group of cross party Scottish MPs has challenged the Department for Business over the final destination of the Green Investment Bank. Led by Scottish Environment Minister Fergus Ewing, the group argue that the city of Edinburgh is best placed due to its advanced history of finance. The letter to Business Secretary Vince Cable cites […]

Green Bank hitlist drawn up

Offshore wind, waste processing and large-scale energy efficiency projects are top priorities for the Green Investment Bank’s (GIB) first round of spending until 2016, Vince Cable said yesterday. The business secretary laid out a checklist of needs for the – as yet unpicked – location of the Bank’s HQ. He also announced a new team […]