5 October 2018
Since its acquisition by Australian banking giant Macquarie Group from the UK Government in August of 2017, the Green Investment Group has arranged for or invested £1.6 billion of capital into clean energy projects, according to the Group’s first Progress Report since privatization.
In 2012 the UK Government set up the Green Investment Bank (GIB) to support the development of renewable energy projects. Three years later the GIB announced plans to privatize, which came to fruition in August of 2017 when Australian banking giant Macquarie Group acquired the GIB for £2.3 billion and promptly changed its name to the Green Investment Group (GIG).
High among the highlights from the Report is confirmation of the Group’s commitment to green energy investments, boasting over £1.6 billion of capital invested or arranged for clean energy projects. 10 new green transactions were made through the year, including waste-to-energy in the UK, onshore wind in Sweden and the United States, solar in India, and offshore wind in the UK.