Green Investment Bank

(asked on 17th January 2017) - View Source

Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, pursuant to the Answer of 13 January 2017 to Question 59325, whether nominated trustees of the special share company of the Green Investment Bank were alerted to the establishment of new companies.


Answered by
Nick Hurd Portrait
Nick Hurd
This question was answered on 20th January 2017

In November and December 2016 the Green Investment Bank (GIB) incorporated twelve new Special Purpose Vehicles (SPVs): Galloper Holdco Limited; OSW Co Holdings 1 Limited; OSW Co Holdings 2 Limited; OSW LP Holdco Limited; Project G Holdco Limited; Project G Holdings 1 Limited; Project G Holdings 2 Limited; Rampion Holdco Limited; WMR Holdco Limited; Rampion Investco Limited; New Green Interim Holdco Limited; and UK Green Investment Lyle Limited.

The SPV ‘UK Green Investment Lyle Limited’ was incorporated in the course of business-as-usual to support GIB’s investment in the Lincs offshore wind farm (publicly announced by GIB on 13 January 2017).

The remaining eleven SPVs were incorporated in order to facilitate the potential introduction of private capital in to a number of GIB’s offshore wind assets, following discussion between GIB and the UK Government. These entities are currently dormant and own no assets.

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