The funding will be utilized in various renewable and low carbon projects, including a new clean energy centre at Addenbrookes Hospital, Cambridge to help the NHS Trust reduce emissions; an offshore wind farm; and a recycling centre in Wakefield, West Yorkshire to reduce waste sent to landfill and generate energy from waste.
These green projects are expected to reduce 2.5 million tons of greenhouse gas emissions and generate around 10TWh of renewable electricity.
Commenting on the funding, Green Investment Bank chief executive Shaun Kingsbury said the funding showcases the Bank’s commitment to helping the country towards a greener economy.
Scottish secretary Michael Moore said, "With a high caliber team being recruited and a strong transaction pipeline in place, the UK Green Investment Bank will play a huge role in attracting green businesses – and all businesses – to Scotland."
An investment alliance with Masdar, a UAE-based clean energy firm, will bring an additional funding to support projects in UK over the next seven years.
