16 Jan '13, 6pm

U.K. Green Bank Chief Plans to Allocate $4.8 Billion to Clean Energy by 2015

U.K. Green Bank Chief Plans to Allocate $4.8 Billion to Clean Energy by 2015

“We feel confident that in the next two to three years we can commit that capital,” Kingsbury said of the 3 billion pounds. “There is an opportunity for that.” The bank is part of the U.K.’s efforts to stimulate the renewable energy projects and carbon reductions required to meet its binding targets of deriving 15 percent of all energy from renewables by 2020 and cutting emissions by 34 percent in 2020 from 1990 levels. Kingsbury said there’s potential to get added support for renewables through a new law allowing the government to guarantee as much as 40 billion pounds of infrastructure investment. “Certainly a portion of that money could go into the renewable energy business,” he said. “We will want to work closely with them” to use Treasury guarantee programs alongside Green Investment Bank money on joint deals, he said. Securing Returns Two days ago, the bank said it w...

Full article: http://www.renewableenergyworld.com/rea/news/article/2013...

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