Renewable

May 19 (Renewables Now) - The UK Infrastructure Bank (UKIB) and Octopus Investments are launching a fund, the Octopus Sustainable Infrastructure Fund (OSIF), that will provide growth capital to companies developing and rolling out green infrastructure projects in emerging sectors where mainstream debt financing is still hard to obtain.

The targeted green infrastructure schemes will be key to meeting the UK’s net-zero targets and could include battery storage or electric vehicle charging, for instance.

UKIB has partnered with Octopus Investments to create the fund and will be its cornerstone investor. The bank will commit up to GBP 100 million (USD 124m/EUR 118m) and expects to unlock GBP 100 million to GBP 300 million of private capital.

“This is the sixth deal for the Bank as we approach the end of our first year, and we are developing our approach to how we can best complement the market," said its head John Flint.

UKIB, launched in June 2021, aims to help address climate change and aid regional and local economic growth.

(GBP 1 = USD 1.243/EUR 1.181)

Join Renewables Now's free daily newsletter now!