Green Investment Bank bidder encourages government to push ahead with sale after Brexit vote

William Turvill
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Business secretary Sajid Javid launched the sale of GIB in March (Source: Getty)

The government has been encouraged to push ahead with its sale of the Green Investment Bank (GIB) and show that the UK is “open for business”.

Sustainable Development Capital (SDC), which is among the firms bidding for GIB, has encouraged Whitehall to look beyond Brexit vote uncertainty.

Read more: MP wants safeguards on Green Investment Bank privatisation

“It’s important for the government to show we’re still in business,” SDC chief executive Jonathan Maxwell told the Sunday Times. “In the context of the vote, it’s very important a deal gets done.”

Business secretary Sajid Javid launched the sale process of GIB in March this year.

Read more: Sajid Javid fires starting gun on Green Investment Bank sale

SDC is heading up a consortium bid for GIB along with the Pension Protection Fund (PPF), GE, Mitsui and US insurance company John Hancock. Sky News first reported that it is in competition with Australian bank Macquarie and US private equity firm KKR for the £4bn-valued GIB.

Maxwell told City A.M.: “Our objective is to keep the GIB green and growing, backing management and bringing additional capital and expertise to continue to invest in much needed sustainable infrastructure.”

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