IN BRIEF: Sale of Edinburgh-based Green Investment Bank ‘tomorrow’; thumbs-up for new solar power parc in Moray

Elgin Energy's solar power parc, near Errol
Elgin Energy’s solar power parc, near Errol

The Brit-government will complete the sale of the Edinburgh-based Green Investment Bank to a Sydney-based bank tomorrow, according to inside sources.

The GIB was set up in 2012 to facilitate Britain’s switch away from fossil fuels, but was  put up for sale last year as part of a drive to raise money from privatisation. The decision attracted widespread criticism from lawmakers and environmental groups, who warned that privatisation could jeopardise the bank’s purpose.

The deal between the government and a bank led by the Macquarie Group is due to be finalised on Friday, according to Bloomberg.

Meanwhile, Moray Council has given Elgin Energy planning permission for a 20MW project near Urquhart, which could see about 80,000 solar panels installed.

The farm will be constructed on the 47-hectare Speyslaw site. The London-based renewable power developer also owns the 13MW solar far at Errol, near Dundee.

It is also seeking planning permission for a 50MW project at the former RAF Milltown airfield, a few miles north east of Elgin. A decision on that application is not expected until Spring 2018.

17 Aug 2017

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