Construction Logo For Mobile
Time and date
Share this page
Construction News

First GIB To Be Based In Edinburgh And London

The Business Secretary Vince Cable announced today that the first ever UK Green Investment Bank (GIB) will be based in Edinburgh and London.

The headquarters of the GIB will be located in Edinburgh, with the GIB’s main transaction team based in London. This arrangement will enable a greater commercial reach nationally than could be achieved from one location.

Sitting the bank across these two locations will enable the GIB to become a world leader, playing to the strengths of Edinburgh and London.

Mr Cable said: "Harnessing the strengths of Edinburgh and London will support the Green Investment Bank's ambition to become a world leader. Edinburgh has a thriving green sector and respected expertise in areas such as asset management. London, as the world’s leading financial centre, will ensure that the GIB’s transaction team can hit the ground running.

Grille City Aluminium

"This decision will allow the GIB to operate effectively and achieve its mission of mobilising the additional investment needed to accelerate the UK’s transition to a green economy."

Scottish Secretary Michael Moore said: "I am delighted that the Green Investment Bank will be headquartered in Edinburgh. Scotland has enormous green energy potential and its capital is the UK’s second biggest financial centre.

"The size and scale of the UK’s single energy market ensures the level of investment that will unlock Scotland’s renewables future, providing sustainable and affordable green energy across the UK. It makes perfect sense to have a GIB presence there.

"By basing the GIB’s corporate HQ, asset management and administrative functions in Edinburgh and its transaction team in London, we can harness expertise across the country to deliver a strong and successful GIB for the UK."

The next step for the GIB is the recruitment of the Chair and Senior Independent Director so that it will be in a position to be fully operational this Autumn, subject to state aid approval for the GIB. The GIB is expected to employ 50-70 full time equivalent staff across the two sites.


Latest Construction News


The John Muir Trust has welcomed the Highland Council's objection on plans to build a new wind farm in north west Sutherland. The application for Caplich Wind Farm involves erecting 20 turbines up to 132 metres high. In addition, it would require an extensive network of access roads to be develope

Sustrans has shortlisted five potential projects to improve the Milngavie area of East Dunbartonshire. The sustainable transport charity selected the schemes as part of the Community Links Plus initiative. The projects include building a safer roundabout in the Burnbrae area and continuing the Bea

Work is due to begin on a new high school in Elgin, Moray Council has announced. The project is set to go ahead after council planning officers managed to reduce construction costs by £400,000. Last year, delays which set the scheme back by months meant contractors added £1 million to the projects

Multi-technical services provider SPIE UK is to move into a new office block in South Lanarkshire, it has been announced. The company is relocating to the top two floors of the four-storey One Rutherglen Links building. The £5 million facility was built by regeneration firm Clyde Gateway in 2014.

Work is due to begin on the first stages of an extension project at Stirling Sports Village. The council approved a long term development plan of the site around the PEAK and Forthbank Stadium last year. The first work phase includes increasing parking space, improving traffic flow, installing bet

The Scottish Government has held a meeting to discuss job concerns in Lochaber. Council Leader Margaret Davidson and senior officers met with Business Minister Fergus Ewing yesterday, 09 February to discuss economic development in the region. Last month, Rio Tinto announced it would review its alu

Hunter Construction is due to begin a £140,000 flood alleviation scheme in Aberdeen. The contractor will carry out works to reduce the volume of water residing in the existing sewer in the Leggart Terrace area. The eight-week scheme involves developing a new extension to the system, removing flood

Work is underway to develop a £17 million sports facility in Dundee. Councillor Ken Guild joined Stewart Harris from sportscotland as £850,000 of preparations began at Caird Park yesterday, 09 February. The Regional Performance Centre for Sport will provide a training venue for squads across a ran

A new 'affordable' housing project is underway in West Lothian, it has been announced. McTaggart Construction has began building three one-bedroom bungalows and two two-bedroom bungalows on behalf of the council at Auldhill in Bridgend. The development will contribute to the council's £100 million

The final phase of a £100,000 bridge upgrade project is due to begin next week, Scotland TranServ has announced. Works will take place on the northbound lane of the A76 Bargower Rail Bridge located south of Crossroads roundabout adjacent to Cessnock Water. Scotland TranServ will carry out the refu
Richardson and Starling (Northern) LtdHome Slide Door Systems LtdJRF Chimney Specialists and Heating DistributorsAlba PoolsCustombuilt Joinery LtdCaltech LtdTimeless Timber (Scotland)Stuart King Architecture & Design LtdComp-ConnectionTennants (Elgin) Ltd
Terms and Conditions