banking and capital markets
February 08, 2013
Governments Launch Green Banks to Boost Private Clean-Tech Investment
In November the U.K. government opened Green Investment Bank, which lends to and advises investors in clean-technology projects. Although GIB is the first such national entity, Australia plans to open one this year and the state of Connecticut did so in 2011.
By Katie Gilbert
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Clean energy just got a generous new friend. In November the U.K. government launched the Green Investment Bank, the first national entity devoted to investing in clean-technology infrastructure and pushing private capital to do the same. The Edinburgh, Scotland–based bank’s organizers hope it can fill some funding gaps that they say are thwarting green industry.
John Bromley, CIO of Triodos Investment Management’s €320 million ($426 million) Ampere Equity Fund, likes GIB’s chances. “Where there may be a lack of capital and some additional support is required, I think being able to turn to the Green Investment Bank might be very beneficial to the sector,” says Bromley, whose Zeist, Netherlands–based fund primarily invests in clean-tech projects. In December, Ampere announced that the....