Solar energy and battery storage developer Luminous Energy has appointed a new chief investment officer as it approaches its 10th anniversary.
Guy Lavarack, pictured, is an experienced investor and developer of energy and infrastructure projects with more than a decade in the renewable energy sector.
In his new role at Corsham-based Luminous he will be responsible for raising finance for Luminous’ solar energy and battery storage projects to enable it to build out, own and operate them in the long term.
Luminous has a strong UK pipeline having recently sold a majority stake in its 350MW Hams Hall energy storage project in Warwickshire, while the first project it aims to construct, the 27MW Bracon Ash solar farm in Norfolk, is at the ready-to-build stage with more than 150MW across four further projects following close behind.
Guy has joined Luminous from Gloucester-based Blackfinch Investments, an FCA-registered fund manager with more than £700m of assets under management, where he was head of energy.
As well as building a successful renewables business there, he was also personally responsible for agreeing £100m in new equity capital commitments across 17 acquisitions as principal and arranging project finance facilities of more than £200m from four leading institutions.
Luminous said he brought strong experience through all stages of the project life cycle, including development, construction, and operations.
In his career, he has overseen the construction of 50MW of solar and wind assets, taking the projects from planning consent through to commercial operations.
Luminous Energy CEO Jolyon Orchard said: “Guy’s wealth of experience building a renewables business from 15MW to 150MW valued at more than £150m in six years at Blackfinch Investments, combined with his integrity and character, are an excellent fit with our team and business.
“Renewables is often seen as a quite fragmented market, but Luminous is unique in its ability to demonstrate longevity, a diverse portfolio with development activity in the UK and abroad and a ready pipeline of robust, investment-grade projects.”
He said the company was in an excellent position for future growth and was open to discussions with institutional investors and funders keen to partner it.
“Now, more than ever, solar energy has a vital role to play at a local, national, and international level in the fight against climate change and contributing positively to the economy,” he added.
Guy will be charged with seeking finance for not only Luminous’ UK-based projects but also its wider development pipeline in the US, Chile and Australia which consists of more than 300MW of solar and battery projects.
