U.K. Green Investment Bank Puts $767 Million into Wind
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The U.K. Green Investment Bank placed 461 million pounds ($767 million) into two wind farms off the British coast to help the developers recycle their cash back into new projects.
The bank, capitalized in 2012 with 3 billion pounds from the U.K. government, said it was putting 241 million pounds into a 50 percent stake in Dong Energy A/S’s Westermost Rough offshore wind farm along with Chiyoda-Ku, Japan-based Marubeni Corp. It’ll pay out another 220 million pounds for a 10 percent stake in RWE AG’s Gwynt y Mor project.