The West of England Combined Authority has announced that a new investment fund has been approved to support the green economy across the region.
Following approval from the combined authority’s committee, the investment fund worth £100 million will leverage private sector investment to support the region’s commitment to the environment and green economy. This will be done by giving further confidence to potential outside investors and supporting communities to play their part in green projects.
Up to 36,000 homes can be supplied with renewable energy through the funding, whilst households and businesses can be helped to save £6 million on their energy bills over the course of the next 12 years. Not only is this important in tackling the climate crisis but will also help communities to deal with the spiralling cost of energy.
Dan Norris, Mayor of the West of England, said:
“Tackling the climate crisis and delivering on our net zero and wildlife recovery ambitions are essential. My Mayoral Combined Authority is committing £10 million of new investment to attract £90 million of private investment to create growth and jobs in important Net Zero industries.
“The fund is a massive vote of confidence in the potential of our region to be a leader in renewable energy and green technology.
“I am saying to businesses and investors that this region is leading the way; come and invest with us and be part of the green revolution the West of England needs and is committed to.”
The fund will be delivered in partnership with BBRC, and will focus on a number of areas, including delivering net zero, wildlife recovery, creating jobs, and growing net zero industries.
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