The Welsh government will doubtless be disappointed, but hardly surprised, if the chancellor does not agree to reverse previously announced cuts in its budget although it is in line for a share of any extra funds for capitalprojects such as new transport schemes.
The inherent uncertainty in investing in novel technologies, coupled with the high capital costs and long time horizons, prohibits most venture capitalfunds from investing in large-scale clean energy projects.
Rohatyn's call for action is to create a National Infrastructure Bank that would finance projects using capital from the public as well as private and international funds.