News | Energy Efficiency

http://www.newenergyworldnetwork.com/renewable-energy-news/by-technology/energy-efficiency/uk-government-split-over-green-investment-bank.html

The proposed Green Investment Bank (GIB) to be set up in the UK has caused friction between the Department of Energy and Climate Change and the Treasury as factions form over the extent to which public funds will be used.

Chris Huhne, Secretary of State for Energy and Climate Change, is reportedly in debate with the Treasury as to the scope of the bank and exactly how it will operate, the Financial Times said.
The long wait for details on what shape the GIB will take has caused frustration among those in the renewable sector, many of which have told NewNet it has caused a delay to projects getting off the ground.
Last year, the government said it would commit about £1bn to the establishment of the bank and a committee set up to assess its creation suggested both the set-up of new financial instruments and the sale of government-owned assets.
It is anticipated the government will announce further plans on the formation of the GIB in the coming few months.