West of England announces £100m green investment fund

The West of England Combined Authority has agreed to set up a £100 million investment fund to drive the region’s green economy.

Mayor Dan Norris 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’m 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 total public and private investment from the fund is expected to help supply up to 36,000 homes with renewable energy and save households £6 million on their energy bills over the next 12 years.

The investment opportunities will be delivered in partnership with BBRC, a place-based investor that created the fund model and has brokered and invested £71 million into the region in the last 10 years.

Ed Rowberry, chief executive of BBRC, said: “We’re delighted the West of England Combined Authority has taken the decision to initiate this £100 million fund.

“While the West of England has made progress on delivery of net zero and nature recovery, the scale of investment required to meet its ambitions and tackle the climate and nature emergency needs bold action to accelerate it.

“That means introducing new delivery models with a greater focus on private sector investment and alternative funding approaches.”