Question

To ask the Secretary of State for Business, Innovation and Skills, if he will bring forward plans to enable the Green Investment Bank to purchase equity in existing offshore projects to enable similar investment in onshore wind turbine construction; and if he will make a statement.

The role of the Green Investment Bank (GIB) is to help finance green infrastructure projects. The terms of its state aid approval do not allow it to invest in specific supply chain companies or activities such as turbine manufacturing. GIB has already taken equity stakes in a number of operating offshore wind farms.