New MD as Terra Firma targets $2bn

Ingmar Wilhelm joins the London-based private equity firm, which is raising a global renewable energy fund.

Ingmar Wilhelm has joined Terra Firma from Enel Green Power, the Italian renewable energy business, as a financial managing director.

Based in London, Terra Firma has invested €16 billion of equity in private equity, real estate and infrastructure over the last 19 years. It is now raising a global renewable energy fund with a target of $2 billion and hard cap of $3 billion according to sources.

Over the last 10 years, Terra Firma has completed 18 deals in renewable energy infrastructure with a total enterprise value of nearly €2.5 billion. It has built three utility-scale businesses that had installed capacity of 1.4 gigawatts at the end of last year.

Wilhelm was executive vice president and head of business development at Enel Green Power, responsible for a 30GW global project pipeline. He had been at the business since 2003, having previously worked for large German and French utilities.

Guy Hands, chairman and chief investment officer at Terra Firma, said Wilhelm’s appointment “further strengthens Terra Firma’s capabilities in renewable energy infrastructure, which cannot be matched by any other firm”.

Wilhelm joins operational managing director Stefan Thiele, who joined Terra Firma’s renewable energy team earlier this year from German energy company Energie-Baden Wuerttemberg. Other senior members of the team include financial managing director Damian Darragh, operational managing director Mike Kinski and senior advisor Lord Birt.

Earlier this month, Terra Firma confirmed that it was seeking to sell 30 to 40 percent of its UK renewable energy firm Infinis through an initial public offering on the London Stock Exchange expected to raise up to £930 million (€1.1 billion; $1.5 billion).