Green Investment Banks shares set to go on sale
The sale of the Green Investment Bank (GIB) into private ownership has begun today (3rd March) as the government invites private sector investors to register their interest, Business Secretary Sajid Javid has announced.
The Government says a transfer to the private sector will allow the GIB to maximise investment into green energy projects by attracting greater private sector investment, which has so far been constrained by rules governing how public bodies can raise capital.
Business Secretary Sajid Javid said: “The Green Investment Bank is a world first, and it is a sign of its success that the idea is being copied globally. Having proven the business model works, we now want it to make an even greater impact.
“The special share structure protects the bank’s green mission meaning the Green Investment Bank will continue to do exactly what it says on the tin.”
Since being established in 2012, GIB has helped mobilise a total of £10.6bn of investment into almost 70 projects covering sectors including offshore wind, energy efficiency and waste and bio energy.
