Scotland Starts Fund to Increase Private Green Investment
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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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