banner

Screen Shot 2015-03-26 at 9.04.45 AM
2111 Views

Green Investment Bank to invest in projects in India, South Africa


Green Investment Bank (GIB) today announced a pilot project to fund overseas ventures in renewable energy sector to the tune of 200 million pounds (approximately Rs 1,800 crore) in India, South Africa and east African nations.

“GIB will initially target three regions East Africa, South Africa and India… (and) will focus on investments in renewable energy and energy efficiency,” the bank said in a statement.
African Cities
The pilot project will involve British Pound 200 million of investments, it said, adding the proposal would be in addition to GIB’s allocation of 3.8 billion pound for UK projects.

The bank will be investing in green projects on commercial terms and mobilising additional private sector capital, the statement said.

GIB, which submitted a written statement to the House of Commons in the morning, said that it will begin the process of finalising the programme details and identifying suitable investment opportunities.

“This important new pilot programme will see GIB investing outside the UK for the first time. I am confident that our unique business model, tried and tested in the UK, will have a very positive effect in developing countries, helping them to build vital new green energy infrastructure,” said Shaun Kingsbury, bank’s chief executive.

Source: Economic Times


 

Infra header_web

 

Book your seat here.


Follow Alive2Green on Social Media

TwitterFacebookLinkedInGoogle +

Recently Published

cpt
»

We are open for business despite drought : South Africa Tourism

A moral based decision, valuable for the environment South Africa has ...

energya2
»

Ramaphosa should shift to green energy – Greenpeace

Environmental organisation Greenpeace is demanding newly-elected ...

mart
»

Only freedom can stimulate competition

Competition is not something that can be artificially created. ...

tints
»

Tintswalo Atlantic backs the global straw war

Backing the global ‘straw war’, Tintswalo Atlantic has banned ...

Watersaving
»

Hacks to Turn Water Saving into a Habit

John Lucas, Founder of explore4knowlege and a Cape Union Mart ...

coro
»

Sustainable building is the focus at 31st Corobrik Architectural Student of the Year Awards

Great architectural design is sustainable design. It is design which ...

ClimateChange
»

The Promise of Paris – Climate change is creating business opportunities

African countries can meet climate targets promised in the landmark ...

construction
»

Durban prepares for KZN Construction show next week

Durban will host the 2nd annual KZN Construction Expo on 7 and 8 ...

art designindaba
»

Unpacking trends with the world’s leading forecaster, Li Edelkoort

Back for Design Indaba Festival 2018 in Johannesburg and Cape Town, ...