in News Departments > FYI
print the content item

The U.K. government's Green Investment Bank (GIB) plans to launch a 1 billion British pound fund to acquire equity stakes in operational offshore wind projects in the U.K.

The GIB says it is seeking a suitable group of strategic, long-term co-investors to participate in this capital raising exercise. The offshore wind fund will be managed by a GIB subsidiary that is currently regulated by the Financial Conduct Authority (FCA) and will be seeking permission from the FCA to become a regulated fund manager.

Wth 3.6 GW of installed capacity, 1.4 GW in construction and a number of further projects in the pipeline, the U.K. offshore wind sector is set to grow significantly in the coming years. To support that growth, the GIB says it is vital that developers are able to refinance part of their investments in operating assets in order to reinvest in new developments.

The GIB is targeting a first close on the fund by the end of the calendar year.




Trachte Inc._id1770
Latest Top Stories

Yearly Installed Capacity Figures Already Beat 2013 Numbers, More Wind On The Way: AWEA

While the American Wind Energy Association (AWEA) lobbies Congress to extend the production tax credit, the association notes wind projects now under construction signal a vibrant 2015.


Yahoo Inks Contract To Buy Kansas Wind Power

The Internet company plans to log in to the Alexander wind project, which is being built by community developer OwnEnergy.


Could Initial Offshore Wind Projects Crash New England's REC Market?

Some are concerned that the first offshore wind projects could negatively impact pricing of renewable energy credits (RECs) in New England.


Catching Up With The DOE's Down-Select Offshore Winners

The three recipients of key U.S. Department of Energy (DOE) funding provide updates on their offshore wind demonstration projects.


Texas Comptroller Attacks Wind Power, And Industry Fights Back

Texas Comptroller Susan Combs recently released a report calling for an end to wind power subsidies. The Wind Coalition has responded, saying the report is riddled with misinformation.

Renewable NRG_id1934
Canwea_id1984