Low carbon champion appointed to head up GIB
Business Secretary Vince Cable has announced the new chief executive and executive team who will head up the UK's Green Investment Bank (GIB).
The bank will be led by Shaun Kingsbury, who has been appointed as chief executive. He joins from the private equity firm Hudson Clean Energy Partners where he was responsible for its European activities.
Kingsbury is a long time renewable energy investor and advisor having been a founding partner of Pulsar Energy Capital and an advisor to 3i on a number of renewable energy transaction opportunities in Europe.
He also set up and leads the Low Carbon Finance Group in London, a body of leading capital providers to the renewable energy sector. He will work alongside the chair Lord Smith of Kelvin and deputy chair Sir Adrian Montague who were appointed by Vince Cable back in May.
Kingsbury said he was "delighted" with his new role and added: "The Bank has the important and exciting principal task of allocating capital to projects which can both enhance economic competitiveness and provide leadership in environmental business performance."
Six new non-executive directors will also front the bank's activities with a combined wealth of experience in business, investment banking, equity finance and the low carbon sector. They are Professor Dame Julia King, Fred Maroudas, Tom Murley, David Nish, Isobel Sharp and Tessa Tennant.
The CEO and non-executive directors will take up their posts in late October.
Earlier this month, TEG Group became the waste sector's first beneficiary of GIB funding, securing £2m from the bank to build a combined anaerobic digestion and in-vessel composting facility in Dagenham, Essex.