The Government set out plans today to create a green investment bank to help to boost investment in low-carbon sources of electricity, including giant offshore wind parks.
Alistair Darling said that the bank would manage £2 billion of assets directly and that the initiative would unlock billions of pounds of additional investment from the private sector.
The Chancellor said that about £1 billion of the initial funding would come from the sale of government assets, such as the Channel Tunnel Rail Link, with the remainder raised from private investors. He said that offshore wind energy would be a key priority.
For more: Green investment bank to boost wind power
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