The Green Investment Bank moves stake in Sheringham Shoal to offshore wind fund
The Green Investment Bank setup by the UK Government to accelerate the UK’s transition to a greener, stronger economy, has announced that it will move the 20% stake in the 88-turbine Sheringham Shoal wind farm it owns with Statkraft and Statoil; to a new £463m fund to support the offshore wind industry. It will form the first stage of a £1 billion capital fund which has been created with the help of investors, including UK pension funds, and a sovereign wealth fund.
"The fund, which has a pipeline of new investment opportunities in offshore wind farms, is the first raised by the Green Investment Bank, its first move into asset management, and the first time it has managed private capital since its formation." - EDP 24