The previous chief govt of Petrofac, the oilfield providers group which collapsed final month, is in talks to boost tens of hundreds of thousands of kilos for the offshore wind vitality group he arrange 4 years in the past.
Venterra has already raised a complete of £250m in fairness because it was arrange, together with a considerable sum from Past Internet Zero, a fund affiliated with the personal fairness agency Normal Atlantic.
Lord Browne, the previous BP chief govt, sits on Venterra’s board as a non-executive director representing the Past Internet Zero funding.
Each the Normal Atlantic fund and First Reserve, one other personal fairness investor in Venterra, each deliberate to take a position as a part of the newest fundraising.
Whereas offshore wind stays an necessary component of the worldwide vitality transition, the shifting funding priorities partly precipitated by Donald Trump’s second time period as US President have resulted in slower progress than anticipated for corporations reminiscent of Venterra.
A supply near the corporate mentioned the failure of a number of public sale rounds throughout the European renewables trade, and ongoing political uncertainty within the US and UK, had contributed to turbulence within the offshore wind market.
Mr Asfari has been a distinguished determine within the UK vitality providers sector for years, stepped down as Petrofac chief in 2023.
The corporate agreed to pay tens of hundreds of thousands of kilos the earlier 12 months after failing to stop former staff from providing or paying bribes to safe contracts within the Center East between 2012 and 2015.
