UK: GIB Could Fund Only Operational Offshore Wind Farms

The UK’s Green Investment Bank (GIB) intends to fund only the offshore projects that are operational and to avoid those which are in construction phase.

The GIB’s initial capital of GBP 3 billion is not enough to cover the projects under construction, Ian Nolan, head of origination at the Bank, is cited by Bloomberg as saying.

If the Government debt is to decrease, the Bank expects to be able of full funding after 2015.

[mappress]

Offshore WIND staff, October 18, 2012; Image: DONG Energy