GIB loses MD to EIB
Gregor Paterson-Jones has left the UK's Green Investment Bank (GIB) and joined the European Fund for Strategic Investment (EFSI), as an investment committee member.
Paterson-Jones joined the GIB in June 2013 and served as a managing director in the investment banking transaction and origination team.
The EFSI is a joint initiative by the European Investment Bank, the European Investment Fund, and the European Commission to mobilise private finance for strategic investments. It is a key pillar of the Investment Plan for Europe, or 'Juncker Plan', that aims to mobilise at least €315 billion ($352 billion) between 2015 and 2017.
Potential sectors for investment under the Plan include energy, transport, broadband, education, research and innovation.
WKN and John Laing partner to invest in French and Polish Wind
WKN AG and John Laing have signed an agreement to construct over 50MW of wind projects in France and Poland.
John Laing will provide financing for the projects, which will be constructed by WKN – a subsidiary of wind developer PNE Wind – over the next two years.
In September, John Laing agreed a biomass deal with the UK's Green Investment Bank. The firm's 'yieldco', John Laing Environment Fund is also an active investor in the renewable energy market and has a 'right of first offer' agreement with John Laing.
Businesses should apply 2°C stress test, says EY
Companies should consider applying "a 2°C stress test" to their business models in light of the international agreement on climate change action signed in Paris in December, say consultants EY.
The Paris Agreement commits countries to the collective aim of limiting the increase in average global temperatures to 2°C above pre-industrial levels, with an aspiration for even tougher action.
Such a stress test would help companies understand the risks and opportunities arising from climate change mitigation efforts and the broader forces affecting their supply chains and customers, EY said in a report COP21 and the Paris Agreement: what it means for UK business.
In addition, "as owners of much of the physical assets and infrastructure at risk from the impact of climate change, businesses will need to collaborate with government to engage in adaptation planning and implementation," it added.
Canadian renewables firms in acquisition deal
Distributed renewable energy firm UGE International has acquired solar developer Endura.
The two Canadian companies announced the plans in November and have now closed on the deal, which saw UGE pay CA$1 million ($72,000) for Endura as well as issuing almost 9 million shares to the firm. The deal is understood to have been part funded by senior bank debt.
UGE operates in the US, Panama, the Philippines, China and Canada, developing commercial distributed solar and 'microgrid' energy generation. Endura builds distributed solar across Canada, the US and Panama.
People:Gregor Paterson-Jones
