A judicial review challenging the UK government’s decision to appoint Macquarie as preferred bidder for the Green Investment Bank (GIB) has been launched by a rival bidder.
Sustainable Development Capital has applied to the High Court in London for the review. The company believes the bidding process has not been carried out correctly, it is understood.
GIB, which has substantial interests in UK offshore wind, was put up for sale last year.
The Australian investment bank Macquarie was selected as the preferred bidder, but a deal has yet to be finalised.
Sustainable Development Capital said: “The fact that no deal was completed within the targeted timetable attests to the fact that the preferred bid was neither deliverable within the timeframe nor acceptable.”
The company added that it had raised concerns with the parties responsible for the process in the government, but, in the absence of a constructive dialogue, “we have no alternative but to seek redress through the judicial review process”.
Image: reNEWS
