The Green Investment Bank, which many had been waiting, for has finally come out of the think tank's papers and would soon become a reality.
The bank, which is expected to have more than 2 billion worth of assets, was grandly announced by the Chancellor who also added that bank would be the un-locker for billions worth of green energy potential.
There are a lot of hopes riding on this latest initiative by the government as the environmentalists and the activists feel that there is a lot that can be done with the billions that the bank has to distribute.
There is though, a section of the critics who have cited the amount as being way too less to make any substantial impact on the harm that has already being done and is continually occurring every year through the use of carbon rich technologies.
Another set of apprehension that is running high amongst the activists is that the bank may fund the outdated nuclear energy technology which many feel may be a wrong move.
This is because of the belief that this source of energy has been given too much time to develop but it has not really lived to the promise it initially created.
The 2 billion worth of the investment would be coming in two parts.
One billion of the money would be acquired by selling the assets like the rail link of Channel Tunnel while the other half of the money would come through the private investment links.
Some of the expected and anticipated uses of the money include the development of ports which would be transporting turbines for the offshore wind.
The boost to the growth of wind power energy in and around the Humber Estuary is going to cost the bank around 60 million.
The bank has also elicited response from the big environmental group, Greenpeace who have been quoted as saying that the bank would need this kind of monetary investment every year if they are to make any dent in the dying energy infrastructure of the country.
The different initiatives and the developments are also expected to be huge job creators through the country.
And conserving the complete supply chain, the number of jobs that may be created could virtually run off into thousands.
There is no doubt that the Green Investment Bank promises a lot and there is a lot that is being expected from it.
What remains to be seen is how well the bank takes care of its expectations.
The bank, which is expected to have more than 2 billion worth of assets, was grandly announced by the Chancellor who also added that bank would be the un-locker for billions worth of green energy potential.
There are a lot of hopes riding on this latest initiative by the government as the environmentalists and the activists feel that there is a lot that can be done with the billions that the bank has to distribute.
There is though, a section of the critics who have cited the amount as being way too less to make any substantial impact on the harm that has already being done and is continually occurring every year through the use of carbon rich technologies.
Another set of apprehension that is running high amongst the activists is that the bank may fund the outdated nuclear energy technology which many feel may be a wrong move.
This is because of the belief that this source of energy has been given too much time to develop but it has not really lived to the promise it initially created.
The 2 billion worth of the investment would be coming in two parts.
One billion of the money would be acquired by selling the assets like the rail link of Channel Tunnel while the other half of the money would come through the private investment links.
Some of the expected and anticipated uses of the money include the development of ports which would be transporting turbines for the offshore wind.
The boost to the growth of wind power energy in and around the Humber Estuary is going to cost the bank around 60 million.
The bank has also elicited response from the big environmental group, Greenpeace who have been quoted as saying that the bank would need this kind of monetary investment every year if they are to make any dent in the dying energy infrastructure of the country.
The different initiatives and the developments are also expected to be huge job creators through the country.
And conserving the complete supply chain, the number of jobs that may be created could virtually run off into thousands.
There is no doubt that the Green Investment Bank promises a lot and there is a lot that is being expected from it.
What remains to be seen is how well the bank takes care of its expectations.
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