UK investors welcome new infrastructure bank
The chancellor’s plan to create a new British infrastructure bank has been warmly welcomed—but how will this influence the UK's energy transition journey?
The UK’s renewable energy sector is set to receive a huge boost as plans are underway to create a new green-focused infrastructure bank. In his spring statement on 3 March, Chancellor Rishi Sunak unveiled plans for developing a Leeds-based bank to target sectors such as renewable energy and carbon capture. It will start with initial capitalisation of £12bn ($16.8bn), with at least a further £40bn of investment expected, and the bank has already attracted interest from institutional investors. “It is a good idea, and the government is going to need a lot of financing for its ten-point plan” Bryn Jones, Rathbones Bryn Jones, head of fixed income at asset manager Rathbones, regards this
Also in this section
16 April 2024
US and European oil majors snap up smaller players and look to accelerate development in a region deemed to possess all the key elements for successful CCUS deployment
15 April 2024
Demand for credits seen rising 20% this year despite issues around integrity and standardisation
11 April 2024
Volatile allowance prices and small size of voluntary market undermine ability to drive investment, says Oxford Institute for Energy Studies
8 April 2024
Chevron New Energies is lead investor in funding round by Colorado-based provider of post-combustion capture technology