A difficult birth for the Green Investment Bank

The new Green Investment Bank, starting work next year, aims to overcome market failure by levering in massive volumes of private capital into low-carbon energy infrastructure. Paul Hatchwell investigates whether it will be fit for purpose

The world's biggest offshore wind farm at Thanet, Kent, has a peak capacity of 300MW (credit: Vattenfall)In his March 2011 Budget, chancellor George Osborne announced the coalition was pressing on with plans for an ambitious, independent Green Investment Bank (GIB). Its prime purpose is to “support low-carbon investment where the returns are too long-term or too risky for the market”.

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