Wind Power: Seas and Oceans

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

Alert me about debates like this

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 take steps to allow the British Business Bank to provide bonds for companies in the offshore wind supply chain for the purpose of enabling those companies to take on additional orders.

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

Since 1st November 2014 the Business Bank has been an operationally independent public limited company, which is wholly owned by Her Majesty’s Government.

It is conducting research, working alongside Department for Business, Innovation and Skills officials, to better understand the market for performance bonds and its impact on smaller companies.

Bonds and guarantees have been supported by the Enterprise Finance Guarantee, which is delivered by the Business Bank via participating lenders, since April 2014.

Does this answer the above question?

Yes1 person thinks so

No0 people think not

Would you like to ask a question like this yourself? Use our Freedom of Information site.