WIREDGOV

Business Secretary Vince Cable has declared the UK Green Investment Bank plc (UK GIB) officially open for business and announced two new investments.

The ground breaking institution has been funded with £3 billion of Government money and will mobilise additional private capital to make a significant contribution to the development of a green economy.

Speaking in Edinburgh where the new bank is headquartered, Dr Cable revealed that UK GIB had made its first investment since becoming operational, committing an initial £8 million to a project in the North East of England that will generate energy from waste. This will attract a further £8 million of matching private sector funding.

Click here for full press release