A game-changing £100 million green growth initiative in the region has taken another step forward, as the West of England Mayoral Combined Authority names an international leader in responsible infrastructure investment to manage the Fund.
The Green Growth West Fund is a new impact fund for the region. It will be managed by Amber Infrastructure, working with BBRC who are currently providing investment readiness services to the region, identifying investment opportunities and attracting investment to the region.
The West of England Mayoral Combined Authority, led by Mayor Dan Norris, has provided an initial £10 million investment into the fund, to leverage confidence to potential investors and demonstrate the region’s commitment to lead on the green economy. The Fund is seeking to secure a further £90 million in private and public investment over the next 12-24 months.
The ambitious initiative is designed to invest in the region’s mid-scale infrastructure and growth-ready businesses to help them seize the opportunities of the Net Zero transition. The fund could supercharge the region’s renewable energy, low-carbon transport and nature recovery efforts, supporting the creation of 9,000 green jobs and helping to generate £300 million of turnover growth for local businesses.
Dan Norris, the Mayor of the West of England, said:
“Creating jobs and growth and tackling the climate crisis can go hand in hand. My Mayoral Combined Authority has already committed £10 million to kickstart Green Growth West and attract a further £90 million into our region with a substantial proportion of this from private investment.
“The West of England is already a real leader in renewable energy and green technology so it’s great news that we have appointed Amber Infrastructure, an industry-leading fund manager, to manage this game-changing fund to ensure we deliver maximum investment for our region.”
Jo Patrick, Head of Sustainable Energy, Amber Infrastructure commented:
“We are delighted to work with the West of England Mayoral Combined Authority to launch the Green Growth West fund. This appointment highlights Amber’s role as a leading impact investor and fund manager and its commitment to delivering projects that meet regional needs and objectives.”
Ed Rowberry, Chief Executive of BBRC, said:
“To achieve the scale of investment that’s needed to tackle the climate and nature emergency, we need a bold approach – and the new Green Growth West Fund provides just that.
“With the significant investment from the West of England Mayoral Combined Authority to kickstart it, and now the appointment of leading specialist investment manager, Amber Infrastructure, the West of England is strongly placed to deliver on Net Zero ambitions.”
