A renewable power group based by the previous chief government of Petrofac, the oilfield providers group which collapsed throughout the autumn, will this week announce a £40m fundraising regardless of indicators of rising stress over its management.
Sky Information has learnt that Venterra, which was arrange 4 years in the past by Ayman Asfari, will unveil the capital injection as early as Monday.
Its backers will embody present shareholders Past Web Zero, a fund affiliated with the personal fairness agency Common Atlantic, and First Reserve, one other personal fairness investor.
The fundraising will come amid a difficult local weather sweeping by means of swathes of the renewable power sector.
Whereas offshore wind stays an essential component of the worldwide power transition, the shifting funding priorities, partially precipitated by Donald Trump’s second time period as US president, have resulted in slower progress than anticipated for firms corresponding to Venterra.
One supply stated there had been rising tensions in current months over Mr Asfari’s position on the firm and its prospects for 2026.
Venterra has already raised a complete of £250m in fairness because it was fashioned.
Learn extra: Former Petrofac chief seeks £40m for offshore wind group Venterra
Lord Browne, the previous BP chief government, sits on Venterra’s board as a non-executive director representing the Past Web Zero funding.
Mr Asfari, who has been a distinguished determine within the UK power providers sector for years, stepped down as Petrofac chief in 2023.
Venterra didn’t reply to emailed enquiries from Sky Information.
