Energy efficiency
Announcements prior to September 2017, including this announcement, occurred under previous ownership.
13 November 2015
The joint venture between UK Green Investment Bank plc (GIB) and the UK Government’s Department for Energy and Climate Change (DECC) was officially launched yesterday as part of the Indian Prime Minister’s visit to the UK.
UK Climate Investments will invest up to £200m from DECC’s £3.8bn International Climate Fund in renewable energy and energy efficiency projects in developing countries.
India, South Africa and parts of East Africa (Kenya, Rwanda and Tanzania), where demand is high for new generation capacity and renewables present a competitive alternative to fossil fuels, all have the right conditions to attract low carbon investment.
UK Climate Investments has been mandated to invest in projects on commercial terms, making market-leading, transformational investments that will ‘crowd in’ private investors.
A dedicated and experienced team of investment professionals has been assembled to manage the programme, led by Managing Director Stephen West.
The team has already lined up a pipeline of pending projects, the first of which is expected to involve the construction of a number of solar PV farms in India’s southern states.
Amber Rudd
Secretary of State for Energy and Cimate Change
Shaun Kingsbury
Cheif Executive, Green Investment Bank
Stephen West
Managing Director, UK Climate Investments
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