Green Investment Bank Debate
Full Debate: Read Full DebateLord Campbell-Savours
Main Page: Lord Campbell-Savours (Labour - Life peer)Department Debates - View all Lord Campbell-Savours's debates with the Department for Business, Energy and Industrial Strategy
(7 years, 7 months ago)
Lords ChamberOn the latter question of whether the bank may invest overseas, I understand that it is already considering projects in India and east Africa. One purpose of introducing private capital into the Green Investment Bank is to give it more flexibility to develop the business in future.
The question of the noble Baroness, Lady McIntosh, was about the possibility of the bank being broken up for profit-taking. Is that possible, or will it remain completely intact?
My Lords, no business would say that it will be intact for ever. Interestingly, the Green Investment Bank manages an investment fund of £800 million. It is the biggest investment fund in the renewable sector in the UK. It has a whole series of investments in that fund, and of course some will be sold in future.