In December 2009, British Chancellor Alistair Darling announced the creation of Infrastructure UK, a new government agency designed to facilitate private sector investment in UK infrastructure. The new entity will look into all aspects of British infrastructure including private sector involvement, the construction and development of critical infrastructure projects and the transition to a more energy efficient low-carbon economy. It will also advise the Treasury on its infrastructure investment.
Infrastructure UK will combine several independent bodies including The Infrastructure Finance Unit, the Treasury’s PPP policy team and parts of Partnerships UK. It will be chaired by Paul Skinner, formerly the chairman of Rio Tinto, with former Partnerships UK chief executive James Stewart as CEO. It will specifically act in the identification, prioritisation, development, funding and operation of major infrastructure projects on behalf of the UK government.
The new entity has subsequently invested GBP 90 million as part of a core sponsorship deal in the Marguerite Fund, officially the 2020 European Fund for Energy, Climate Change and Infrastructure. The vehicle was launched by European Investment Bank (EIB) in collaboration with other financial institutions based in Germany, France, Spain, Italy and Poland. It will target a range of renewable energy, energy and transportation opportunities throughout Europe.
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