A bidder for the Green Investment Bank (GIB) has launched a last-minute attempt to seize control of the state-owned eco-friendly lender. The government is weeks away from awarding Australian bank Macquarie the taxpayer-owned renewable energy lender in a deal worth £3.8bn. However, Jonathan Maxwell, chief executive of Sustainable Development Capital (SDC) has urged energy minister Nick Hurd to reject the Macquarie bid. He says his consortium, which includes the state-backed Pension Protection Fund (PPF), is the “best alternative” to meet the government’s goals for GIB, which was created in 2012 to kick-start Britain’s clean energy industry. SDC’s last-minute plea comes as ministers face calls to halt the sales process. Fears have been growing that Macquarie will “strip” GIB’s assets — the subject of a parliamentary debate last week.
Times 15th Jan 2017 read more »