The Crown Estate has welcomed today’s announcement by the Green Investment Bank to raise a £1 billion fund to encourage new private investors to invest in offshore wind farms in the UK.
Huub den Rooijen, Head of Offshore Wind at The Crown Estate said: “The UK continues to be the most attractive place to invest in offshore wind globally and today’s announcement by the GIB to raise a £1 billion fund to attract new private investment is another vote of confidence in the UK’s maturing sector. Offshore wind is already making a material contribution to the UK’s electricity demand, around 3-4 per cent annually, and employing nearly 7,000 people directly – today’s announcement is a further boost to unlocking offshore wind’s full potential and the UK’s transition to a low carbon economy.”
The announcement by GIB to establish a £1 billion Offshore Wind Fund to acquire equity stakes in operational offshore wind projects in the UK was made alongside their 2013-2014 annual results. GIB is seeking a suitable group of strategic, long-term co-investors to participate in this innovative capital raising exercise.