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Edinburgh to be home to Green Investment Bank

The government’s Green Investment Bank is to be headquartered in Edinburgh, it has been announced.

Scotland’s first minister Alex Salmond said the decision recognised Scotland’s position at the “vanguard” of the renewables revolution.

“In terms of green energy, the UK needs Scotland’s target of 100% of Scottish electricity demand coming from renewables by 2020 in order to achieve Westminster’s targets under the Renewable Energy Directive,” he said. “Scotland is estimated to contribute 30% of the UK’s renewables target.

“Edinburgh is the only location to bring together both finance and the clean energy industry in a single location.”

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