Greeniums — higher prices for environmentally friendly investments — are driven by investor demand. That was not the case when the UK government launched its Green Investment Bank in 2012. Five years later the bank’s portfolio, which included stakes in offshore wind projects, was sold for £2.3bn to a consortium led by Australia’s Macquarie. Macquarie has since gone well beyond its promise of investing a further £3bn in UK and European green projects within three years of purchase. The scale of investments suggests it purchased a bargain portfolio.
FT 4th Jan 2021 read more »