Clegg announces £100m fund for green investments

DEPUTY prime minister Nick Clegg will today use a speech to herald a £100 million fund for environmentally-­friendly investment ahead of this autumn’s opening of the Edinburgh-based Green Investment Bank.

Clegg will reveal that the money is going to two industrial energy efficiency fund managers, Equitix and SDCL, in the speech opening the government’s British Business Embassy on Energy at Lancaster House in central London.

At the same event, green projects to be announced will include one to double capacity at the Dagenham plant of Closed Loop Recycling, the world’s first food-grade plastic bottle recycling plant, at a cost of £12m,.

The Liberal Democrat leader will say the initiatives are examples of how the renewable energy sector is delivering vital investment and jobs to the UK. Closed Loop’s plans are expected to create or safeguard 100 jobs.

The deputy PM is also expected to deny splits within the coalition over carbon emissions policy.