UK's Green Investment Bank funds two projects
- Winter session Day 1: Govt talks about misuse of word 'secularism', Sonia raises 'intolerance' debate
- Sheena murder: CBI seeks Interpol help, Peter Mukerjea's custody extended till Nov 30
- PPCC chief Bajwa and Jakhar made to resign as rejig in Punjab Congress imminent
- Constitution Day: The many reasons why the BJP decided to celebrate it
- India-Pakistan series to be played from December 15 in Sri Lanka: Rajiv Shukla
British government-backed Green Investment Bank, designed to spur private funding for low-carbon energy initiatives, has provided 13 million pounds ($21 million) finance for two projects.
The bank, headquartered in Edinburgh and capitalised with 3 billion pounds government money, received state aid approval from the European Commission last month.
One of two projects that received funding on Wednesday was a group of six plants that will generate energy from waste in northeast England. They receiving 8 million pounds.
The other project, earmarked for a 5 million pound investment, will retrofit the British facilities of Irish construction company Kingspan with material to make them more energy efficient.
The bank started investing in projects earlier this year under commercial terms, committing 180 million pounds to specialist fund managers for co-investment in smaller energy projects.
It will be given full borrowing powers by around 2015 and has chosen offshore wind, waste and non-domestic energy efficiency as priority projects.
- Why every patriot should be worried, and, yes, ashamed
- Douglass North emphasised institutions when markets were the focus
- ‘Bovine Divine’ controversy lurched between the horrific and the comic
- PM Modi’s achievements abroad appear to cut little ice back home
- Post 13/11 sloganeering at Antalya and Kuala Lumpur won’t be enough
- Can Parliament be insulated from the vagaries of the political climate?