A Word About Wind id2090
in News Departments > FYI

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.




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