Co-operative Bank steps up renewable energy investment

03 Jun 2010
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co-operative bank The Co-operative Bank is to invest about £200 million in the renewable energy sector in Scotland.

According to the bank's head of renewables Richard Wilcox, a successful transition to a low-carbon economy will not happen if the country relies solely on the major renewables schemes.

As a result, it is diverting funds into small to medium-sized renewable energy projects, many of which have been overlooked by banks in the past.

"Renewable energy is a growth area that is becoming increasingly attractive," Mr Wilcox commented.

He said its appeal is growing because the government is offering various incentives in an attempt to kickstart the market.

This, he stated, could hopefully lead to the country achieving its long-term targets for reducing carbon emissions.

Mr Wilcox added that the Co-operative Bank is "delighted" to be investing in these renewable energy projects.

This comes after James Murray of BusinessGreen.com said more businesses should embrace renewable energy, as many commercial properties have space to include technology such as wind turbines.
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