Torbay Bids to Become Home of Green Investment Bank (UK)

February 17, 2012

Torbay’s bid to become home for New Green Investment Bank, is submitted, reports Thisissouthdevon.

Torbay will be faced with strong competition since the 32 more bids are also received.

The Green Investment Bank (GIB) will be a key component of the progression towards a green economy, complementing other green policies to help accelerate additional capital into green infrastructure. Its mission will be to provide financial solutions to accelerate private sector investment in the green economy. Capitalised with £3 billion, the GIB will play a vital role in addressing market failures affecting green infrastructure projects in order to stimulate a step up in private investment.

It is expected to know final decisionabout headquarters in March,and it’s going to bring arround hundred new jobs.

Mayor of Torbay Gordon Oliver said: “Torbay is an excellent place to invest due to its improving skill levels and low costs, which are set to become increasingly competitive once the South Devon Link Road is built, further reducing the logistical costs of operations.”

[mappress]
Offshore Wind Staff , February 17, 2012