Minal Patel, James Samworth and Hugh Unwin join Greencoat after five, nine and four years respectively spent at Foresight’s bioenergy business. This included the founding and exit of Bioenergy Infrastructure Group, owner of more than 20 UK-based operational and late-stage construction bioenergy assets totalling more than 100MW.
Patel and Samworth both held roles as partners at Foresight, while Unwin was a portfolio director for the firm. Foresight was unable to comment on replacement plans currently.
The move by Greencoat is its first formal push into the bioenergy space. Its 2013 London listing of Greencoat UK Wind has been followed by the firm raising about £1.1 billion ($1.4 billion; €1.2 billion) for UK solar assets across two unlisted funds. Dublin-listed Greencoat renewables was set up in 2017, initially targeting wind and solar projects in Ireland.
Greencoat declined to comment on what form of investment would take place via the new team. The company has “admired Minal, James and Hugh for a long time”, according to managing partner Richard Nourse.
“Large numbers of assets have finished construction and are now looking for long-term, stable and knowledgeable owners,” Patel added in a statement.