21 Apr '17, 11am

Macquarie to Boost UK Green Bank After $3BN Purchase

Macquarie to Boost UK Green Bank After $3BN Purchase

A consortium led by Macquarie Group Ltd. vowed to beef up global spending in clean energy technologies after it agreed a deal to buy U.K. Green Investment Bank from the British government for 2.3 billion pounds ($3 billion). The Sydney-based bank will set up three investment vehicles to deliver on the Green Investment Bank’s target for 3 billion pounds in new spending over the next three years. It would fund technologies ranging from offshore wind power to battery storage and tidal lagoon, according to a statement accompanying the deal on Thursday. The much-anticipated sale to Macquarie was delayed following a failed legal challenge by a rival bidder and political opposition from lawmakers and former ministers who said Macquarie may not continue to drive investment in clean energy following the privatization. “We will create a market leading platform dedicated to investmen...

Full article: http://www.renewableenergyworld.com/articles/2017/04/macq...

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