UKIB publishes strategy update

The UK Infrastructure Bank (UKIB) has published a number of strategy updates as it looks to refresh its mission.

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Among its updates are new details on its local authority advisory & lending function, plus an update on its private sector investments strategy, with a focus on seven areas in which the bank sees an opportunity to deploy its finance over the next 12-24 months.

The following seven areas have been identified by the UKIB:

  • Short duration energy storage

  • Hydrogen

  • Carbon capture, usage and storage (CCUS)

  • EV charging

  • Zero emission buses

  • Heat networks

  • Port infrastructure for floating offshore wind.

“This is a great time for us to signal to the market some of what you might expect next,” said chief executive John Flint.

He added that many of these sectors will see more development in the months ahead, with new technology being deployed at scale for the first time in areas such as CCUS, and heat networks, which Flint identified as likely to play a “much larger role” in future decarbonisation efforts.

Jonathan Terry, the bank’s legal counsel, was among those attending our recent roundtable event at Burges Salmon’s Edinburgh offices. To read more about that discussion, click here.