National Wealth Fund invests £2bn in Yorkshire and Humber since launch
The Leeds-based National Wealth Fund has to date helped drive £2bn of public and private finance into the Yorkshire and the Humber economy, creating and supporting over 4,900 jobs, according to new figures published by the organisation.
Previously titled the UK Infrastructure Bank, the treasury-backed group aims to funnel investment into places, infrastructure and industries that will “underpin long-term UK growth”.
As set out in its second Impact Report published today, the Fund has invested £643m into projects in the region, including battery storage and local infrastructure, mobilising more than 1.3 billion in private finance.
Projects supported include a commitment of up to £200m alongside EIG to help finance Fidra Energy’s Thorpe Marsh battery storage project near Doncaster, part of a package of around £1bn.
Speaking on the newly released figures, Oliver Holbourn, CEO of the National Wealth Fund, said: “These figures show that the National Wealth Fund is backing Yorkshire and Humberside’s strengths to help create the conditions for lasting growth.
“By supporting projects such as the delivery of large scale battery storage in Doncaster or helping to finance the delivery of Hull City Council’s low-carbon Heat Network, we are supporting industry and innovation and creating jobs and opportunities across the region.”