Wind Power: Seas and Oceans

Department for Business, Innovation and Skills written question – answered on 15th January 2015.

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Photo of Iain Wright Iain Wright Shadow Minister (Business, Innovation and Skills)

To ask the Secretary of State for Business, Innovation and Skills, if he will extend the scope of the Green Investment Bank's objects to include investments in supply chain companies in the offshore wind sector.

Photo of Matthew Hancock Matthew Hancock Minister of State (Department for Business, Innovation and Skills), Minister of State for Portsmouth, The Minister of State, Department of Energy and Climate Change

Green Investment Bank’s (GIB) role is to finance infrastructure projects that have direct green impact, as distinct from companies involved in the supply chain. This is reflected in its current state aid approval which expires in October 2016.

The Government has now opened discussions with the European Commission about obtaining an updated approval. One of the matters for detailed consideration will be how GIB should operate in relation to the offshore wind sector, including the scope for support to the supply chain.

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