The previous chief government of Petrofac, the oilfield providers group which collapsed final month, is in talks to lift tens of hundreds of thousands of kilos for the offshore wind power 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 non-public fairness agency Common Atlantic.
Lord Browne, the previous BP chief government, sits on Venterra’s board as a non-executive director representing the Past Internet Zero funding.
Each the Common Atlantic fund and First Reserve, one other non-public fairness investor in Venterra, each deliberate to take a position as a part of the most recent fundraising.
Whereas offshore wind stays an essential aspect of the worldwide power transition, the shifting funding priorities partially precipitated by Donald Trump’s second time period as US President have resulted in slower development than anticipated for firms akin to Venterra.
A supply near the corporate stated 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 power 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 workers from providing or paying bribes to safe contracts within the Center East between 2012 and 2015.
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