Standard content for Members only
To continue reading this article, please login to your Utility Week account, Start 14 day trial or Become a member.
If your organisation already has a corporate membership and you haven’t activated it simply follow the register link below. Check here.
The Green Investment Bank will invest £50 million in a new fund targeting small-scale waste-to-energy projects.
The fund will be managed by the Foresight Group which will raise at least another £50 million from private sector investors to support an “extensive pipeline” of projects such as the £47 million GIB-funded Birmingham BioPower project which is currently under construction in Tyseley.
Business and energy minister Matthew Hancock said while visiting the project, fueled by recovered wood, that the new fund will help the UK move to “the forefront of this innovative green technology, turning local waste wood to electricity.”
“Today I have been able to see first-hand the work that is being done to get projects off the ground,” Hancock said.
GIB chief executive Shaun Kingsbury, also visiting the site, said: “Investing our capital through funds has proven to be an important and successful part of our investment strategy, allowing us to back a wider range of smaller projects right across the UK. We’ve built a strong partnership with Foresight and look forward to it going from strength to strength.”
Please login or Register to leave a comment.