Written question asked by Lord Reay (Conservative) on Thursday, 23 July 2026, in the House of Lords. It was due for an answer on Thursday, 6 August 2026. It was answered by Lord Wood of Anfield (Labour) on Friday, 31 July 2026 on behalf of the Foreign, Commonwealth and Development Office.

British International Investment

Question: To ask His Majesty's Government whether funding provided through British International Investment to Fourth Partner Energy will be provided in the form of loans rather than grants; and, if so, how much funding is affected, and what the terms of the loans will be.

Answer: Through its British Climate Partners (BCP) Initiative British International Investment (BII) will principally provide equity and mezzanine finance. BII does not anticipate providing funding through BCP in the form of grants. BII plans to invest over £1 billion through BCP over the next five years, with this in turn expected to unlock an additional £3.5 billion in private capital. The financial return BII targets on its investments depends on a range of factors - particularly the risk profile of the investment. The terms of BII's individual investments are commercially confidential.

Secondary information