(2) when he expects the Office for Renewable Energy Deployment to become operational.
The Office for Renewable Energy Deployment (ORED) was launched on 15 July 2009. ORED's mission is to accelerate the deployment of renewable energy in order to reduce carbon emissions, increase security of supply and create business opportunities in the UK.
As of August 2009 the budgets available to ORED, including funding allocated to low carbon investment in Budget 2009, are as set out in the following table. In addition, ORED will also be delivering projects funded from the Strategic Investment Fund managed by BIS; this additional funding amounts to up to £135.5 million over the next two years.
£ million 2009-10 2010-11 Administration 7.1 5.8 Programme 13.6 8.9 Capital 38.3 61.2 Total 59.0 75.9