The fund operator Premier Asset Management has called in Henry Gewanter, an adviser for nearly a decade, to handle the AIM listing of Renewable Energy.
Gewanter was head of Financial Dynamics’ financial services practice until
he left to start Positive Profile in 1997 (PRWeek, 14 November 1997). The job is thought to carry at least £50,000 in comms fees.
Premier managing director Mike O’Shea said the firm had decided to put Gewanter on the launch before Christmas after the company had informal discussions with PROs about Renewable’s AIM flotation, which could raise £100m.
Although Renewable Energy is the latest in a line of firms to take advantage of interest in renewable energy such as wind and hydroelectric power, the fund will invest most of its money directly in wind farms.
O’Shea said around 70 per cent of the fund would be invested in wind farms. Positive Profile’s task, O’Shea said, would be to talk to investors and convince them of the fund’s strategy.
Advised by energy specialist Probyn Group, Renewable Energy will focus on European Union and EU accession countries.
Probyn sees the fund’s main drivers as public policy (such as the European carbon trading market which began on 1 January), improved wind farm technology and higher gas prices, which have made renewable energy prices more competitive.