Climate Change Capital (CCC), the UK investment manager and adviser focused on the global transition to a low carbon economy, has launched a renewable energy infrastructure team headed by Stephen Lilley.
Lilley has joined from Infracapital Partners, the European infrastructure fund run by M&G/Prudential Group. While there, Lilley led investments worth more than £400 million (€484 million; $577 million) in companies including Kelda, the water group; Zephyr, a wind farm operator; and Meter Fit, a gas and electricity metering firm.
On the launch of the team, CCC chief executive Shaun Mays said in a statement: “With our partners in the EU increasingly committed to stricter emissions targets and a new UK government, it has become clear that this will mean a massive change in the way we make and consume energy. The complete overhaul of the energy infrastructure will need considerable amounts of private capital to finance it.”
Inteviewed by InfrastructureInvestor.com, Lilley said the appropriate strategy for the team is still being analysed. He described it as a “work in progress” and that there were a “number of ways to expand the envelope” beyond CCC's current offerings. He added that the firm was looking at various models “to see how we could expand into long-term-hold investing”.
Likely areas of focus, said Lilley, would be wind and solar and possibly waste.
CCC currently manages $1.5 billion of commitments focused on carbon finance, private equity, property and energy infrastructure.
The firm’s energy infrastructure investment strategy is currently focused on its Ventus venture capital trusts, which have raised a total of more than £54 million for investment in the UK renewable energy sector, including onshore wind power, landfill gas, hydro-electric power and biomass.