Greg Skinner Acquires Stake in Ethical Power Group

• Ethical Power Group secures a £15 million boost as investor Greg Skinner joins forces to fuel sustainability and global expansion in renewable energy.

UK renewable energy firm Ethical Power Group announced that private investor Greg Skinner has acquired a 50% stake from Hive Energy. This transaction includes a GBP 15 million ($18.6 million) working capital loan aimed at supporting the company’s growth. Skinner, co-founder of Quadrature Capital, will join Ethical Power’s board. Founder and CEO Thomas Kneen retains the other half of the business, which has expanded its operations internationally since Hive's investment in 2021, now active in countries like Spain, Italy, Greece, and New Zealand.

Kneen emphasized that a new partner is essential for reaching their growth ambitions, with plans to launch projects in Italy and New Zealand while expanding their UK portfolio. Skinner expressed enthusiasm for Ethical Power's mission to decarbonize the grid and aligned values regarding sustainability. Ethical Power and Hive Energy will continue collaborating on joint projects in the UK, including Hive Ethical Project Development Ltd, where Hive retains a minority stake, and will explore future international opportunities.

What does Greg Skinner's investment mean for Ethical Power's growth and international expansion?

Here are some additional insights into what Greg Skinner's investment means for Ethical Power's growth and international expansion:

• Increased Capital for Expansion: The GBP 15 million working capital loan provided by Skinner will be crucial for enabling Ethical Power to scale its operations, invest in new technologies, and accelerate project development timelines.
• Enhanced Strategic Direction: With Skinner joining the board, Ethical Power will benefit from his experience and networks in the financial sector, potentially leading to more robust strategic initiatives that could open up new avenues for growth.
• Focus on Decarbonization: Skinner’s commitment to ethical investment aligns with the company’s mission of decarbonizing energy. This shared vision could lead to more innovative project ideas that prioritize sustainability and attract like-minded investors.
• Expansion into New Markets: Ethical Power's plans to launch projects in Italy and New Zealand indicate a clear strategy for international growth. Skinner’s financial backing could mitigate risks associated with entering new markets.
• Joint Venture Potential: The continuation of collaboration with Hive Energy on joint projects in the UK may lead to the development of synergies that can be leveraged in international markets, enhancing project viability and sustainability.
• Capacity for Diverse Projects: The acquisition will enable Ethical Power to diversify its project portfolio. Projects can range from wind and solar to energy storage solutions, accommodating varying energy needs in different geographical regions.
• Increased Visibility and Credibility: Bringing in a well-respected figure like Greg Skinner may enhance Ethical Power's credibility in the renewable energy space, helping attract new partnerships, customers, and potential investors.
• Talent Acquisition: With increased funding and a clear growth strategy, Ethical Power may seek to attract top talent in the renewable energy sector, further enhancing its capabilities and expanding operational excellence.
• R&D Investments: The financial positioning may allow Ethical Power to focus on research and development, potentially leading to innovative energy solutions that set the company apart in a competitive market.
• Regulatory Navigation: With Skinner's guidance and experience, Ethical Power may be better equipped to navigate the regulatory landscapes of various countries, facilitating smoother entry into international markets.
• Long-term Sustainability Goals: A stronger financial footing can help Ethical Power pursue ambitious long-term sustainability goals, contributing to global efforts against climate change and promoting clean energy adoption worldwide.

These factors collectively position Ethical Power for sustained growth and impactful international expansion, enhancing its role in the renewable energy landscape.