The UK government and international organisations have launched a new public-private investment fund to provide seed finance for at least £3 billion worth of green energy projects in developing countries.

With the UK providing £110 million of capital, the private equity fund targets bringing in private finance to invest in commercial solar, wind and hydroelectric power plants, generating in excess of 7,000 MW of clean energy – the equivalent of two-thirds of the present renewable energy capacity of the UK.