A green light for green investment

THE Green Investment Bank will start backing projects including offshore wind schemes from April next year, Deputy Prime Minister Nick Clegg said yesterday.

Clegg said early priorities for investment also included energy efficiency and waste-to-energy schemes. The bank will have full operational independence "as soon as possible" and had a guaranteed 3 billion from the Treasury as initial capital. It will have borrowing powers from April 2015 as long as the target for government debt reduction has been met.