Scotland Starts Fund to Increase Private Green Investment

October 11th, 2012 by Adam Johnston

Wind Turbines via ShutterStock from Lukas Hejtman

Scotland’s government has just announced the start of a new multi-million-pound fund that will target private renewable energy investments.

Alex Salmond, Scotland’s First Minister, speaking at the Scottish Low Carbon Investment conference, said the Renewable Energy Investment Fund (REIF) will be another channel for investors who are looking to use other capital besides the UK Green Investment bank.

According to the article, the new £103 million fund will specifically target advanced projects that have a gap in funding. These include: renewable heat technologies and marine energy. Salmond had this to say also about the new fund:

“The planned advisory group will provide expert advice for people who have good ideas and projects to put to the Green Investment Bank, but who need a helping hand to make them ready for investment.

“The group will help those people to refine and pitch their proposals – by doing so, it should enable the Green Investment Bank to make decisions quickly, and to start investing in projects which will deliver real benefits.”

Source: Business Green

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Tags: Alex Salmond, low carbon economy, marine energy, REIF, Renewable Energy Investment Fund, Renewable Heat Technologies, Scotland, scotland green economy, scotland renewable energy, Scotland Renewable Energy Investment Fund, Scottish Low Carbon Investment, Scottish Low Carbon Investment conference, UK, UK Clean Energy, UK Green Investment Bank, UK Renewable Energy

About the Author

Adam Johnston Is currently studying at the School of the Environment Professional Development program in Renewable Energy from the University of Toronto. Adam graduated from the University of Winnipeg with a three-year B.A. combined major in Economics and Rhetoric, Writing & Communications. Adam also writes for Solar Love and also owns his own part time tax preparation business. His eventual goal is to be a cleantech policy analyst, and is currently sharpening his skills as a renewable energy writer. You can follow him on Twitter @adamjohnstonwpg or at www.adammjohnston.wordpress.com.