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Bids in for Green Investment Bank locations

The Business Secretary Vince Cable has received 32 bids from locations across the UK wanting to host the Green Investment Bank.

Interested parties were invited to self-assess against a common set of criteria to demonstrate they would be an effective base for the GIB.

Part of the criteria dictate that the chosen location should be able to recruit and retain the specialist staff needed; enable the GIB to work closely with other parties involved in deals, as well as other investment bodies, project developers and green technology providers; and ensure that the bank is cost effective.

A review panel, comprising officials from the BIS GIB policy team, Odgers Berndtson and the Government Property Unit will consider the submissions.

Business Secretary Vince Cable said: “I am delighted that the Green Investment Bank has fired the imagination of so many public and private sector groups keen to host this world-first institution.

“They all have a role to play in helping the UK seize the benefits of a transition to a low carbon economy.”

The Government has announced it will invest as UK Green Investments in green infrastructure projects from April 2012, ahead of obtaining state aid approval for the Green Investment Bank.

This was posted in Bdaily's Members' News section by Tom Keighley .