UK’s green bank looks for long-term investors to buy equity stakes in windfarms already in operation
The government’s Green Investment Bank (Gib) has announced plans to raise £1bn to encourage new investors to put money into offshore windfarms.
Unveiling its first set of annual results, the bank said it was looking for long-term investors for a fund managed by a subsidiary that would buy equity stakes in windfarms already in operation. Investors are likely to be pension and sovereign wealth funds looking for long-term, stable returns. The fund is a new development for Gib because it raises private money up front for investment in a particular industry instead of investing project by project.