OREANDA-NEWS. June 29, 2015.   UK Green Investment Bank announces 2014/15 results and plans to raise private capital

·     The UK Green Investment Bank plc (GIB) backed 22 new green energy projects in 2014/15 committing 723m of its own capital to projects with a total value of ?2.5bn;

·     GIB has now committed 2bn to 50 UK projects worth over 8bn. Once built these investments will produce enough renewable energy to power the electricity needs of 4.2m UK homes each year;

·     GIB has announced that, after 2 years of operations, it has reached profitability;

·     The UK Government has also announced its intention to bring private capital into GIB.

Speaking at the Bank's London Annual Review event Lord Smith of Kelvin, Chair of the Green Investment Bank, will say:

"In two and a half years of operations GIB has established a successful business model. We have played an important role in strengthening energy supply and security, reducing energy demand and decarbonising our economy. We have achieved all of this by investing profitably.

"Our challenge now is to build a funding strategy which provides us with the capital to match our investment ambitions. The UK Government led the world in their vision and commitment in setting up the world's first dedicated green investment bank, so we are delighted to have their support as we enter a new phase and seek additional investors in our business."