Moore backs Edinburgh-based Green Investment Bank

Borders MP Michael Moore welcomed the launch of Edinburgh’s bid for the Green Investment Bank last week.

On Wednesday 30th March the Edinburgh Green Investment Bank Group presented the business case for locating the UK Green Investment Bank in Edinburgh to Michael Moore, the Secretary of State for Scotland and Borders MP. The bank, to begin operation in 2012-13, will fund large-scale clean energy and low-carbon projects across the UK with £3 billion of funds.

The Group’s business case is based upon Edinburgh's expertise in financial services, education, research and development, as well as its growing reputation in renewable energy and low carbon technologies.

Michael Moore said:

"As an MP representing a constituency which has vast renewable energy potential I welcome the Government’s Green Investment Bank which will provide funding for large-scale projects such as offshore wind, tidal and wave.

"These projects will provide the jobs and energy security we need for the future and I am working with local groups, such as in Eyemouth to ensure that when offshore developments occur, local people benefit.

"It makes sense for the Green Investment Bank to be based in Scotland because of the unique strengths we have in terms of finance sector, the energy industry and research.

"I will continue to argue the case for Scotland within the UK Government over the coming months and I wish the Group all the best in their bid."