Green Investment Bank community funding to include AD projects
Earlier this week, Business Secretary Vince Cable announced a new £60m investment by the Green Investment Bank and the Strathclyde Pension Fund (SPF) in community-scale renewable energy projects, through Albion Community Power.
According to the announcement
GIB has committed to provide up to £50m with SPF investing a further £10m. ACP is working to attract a further £40m from additional co-investors to take the total sum of investable capital to £100m.
The finance will be used to provide equity funding of between £1m and £10m for a broad range of community-scale renewable construction projects including run-of-river hydro-power, onshore wind on brownfield sites such as industrial estates, and biogas projects including anaerobic digestion and landfill gas.
The pipeline will be built in partnership with project developers such as Infinite Renewables, based in Bridgend, Wales, and Green Highland Renewables, based in Perth, Scotland.
More details are available here.