GIB will be expanding their offshore wind investment strategy by continuing to invest in secondary markets as well as investing in offshore projects in the construction stage.
Offshore wind is one of the GIB’s mandated priority investment sectors and is expected to have the largest share of GIB’s initial £3 billion capital.
In its first six months of operation, GIB’s focus has been the secondary market for operating assets, investing in existing offshore wind projects to allow capital to be recycled into new projects.
Offshore wind has also appointed Christine Brockwell as their new managing director.
The appointment coincides with Martin Stewart’s new role as lead non-executive director for the Department of Energy and Climate Change.
Mr Stewart will join DECC’s existing non-executive directors, Claire Thomas and Terry Morgan.