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Green Investment Bank provides first offshore wind backing

2013-03-22 11:22:00| Climate Ark Climate Change & Global Warming Newsfeed

BusinessGreen: The Green Investment Bank (GIB) has spent 57.5m to take a 24.95 per cent stake in the Rhyl Flats offshore wind farm, marking its first direct equity investment in the fast-expanding industry. Offshore wind is one of the government-backed bank's four priority sectors to which 80 per cent of its 3bn of capital must be directed, the other priority sectors being, non-domestic energy efficiency, the Green Deal programme, and waste infrastructure. The 90MW Rhyl Flats wind farm is located eight...

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