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£100 million fund for green investment announced

A new £100 million fund for green investment has been announced by deputy PM Nick Clegg.

Speaking on the first day of the Global Business Summit on Energy, Mr Clegg revealed that the UK Green Investments (UKGI) team, based in the Department for Business, Innovation and Skills, will provide initial funding of £100m to two Non-Domestic Energy Efficiency (NDEE) fund managers – Equitix and SDCL.

Mr Clegg said: “The UK is the sixth largest market in low carbon goods and environmental services and this government is unreservedly committed to helping our low carbon sector thrive. We seek nothing less than a clean, green, low-carbon economy.

“There is a global energy revolution underway. And the UK is not going to be left behind. We’re leading from the front.

“Together we find ourselves at the vanguard of one of the most dynamic, most innovative, most important industries of our time; an industry whose breakthroughs and endeavours will shape our societies for years to come; an industry that will help us build a more stable, more sustainable, more prosperous world.”

The two-day Summit will focus on the delivery of safe, secure, sustainable and smarter energy ‘ecosystems’, from extraction through to the end user and will feature seminars, networking events and one-to-one business meetings.

In addition to ministers, attending the Summit will be an audience of entrepreneurs and business leaders in the energy sector, as well as British business ambassadors.