Foresight Group increases its solar team to eight

Foresight Group (“Foresight”), a leading alternative asset manager, has announced the appointment of portfolio director Daniele Tabacco to its solar investment team, which now includes eight dedicated solar specialists across UK and Europe.

Based in Foresight’s Sevenoaks office, Daniele will be primarily focused on managing Foresight’s growing solar portfolio, both in the UK and in Europe.

Daniele joins from Nur Energie where he spent a year expanding the Italian business in PV and CSP and also developed a Tunisia solar export project on the Italian side.  Prior to this, Daniele worked at Morgan Stanley where he was responsible for originating, modelling and managing principal investments in energy and commodity assets, focusing on renewables such as solar, biomass and wind.  His extensive experience in the energy sector also includes spells at General Electric Oil&Gas in Italy and at Alstom Power in Switzerland.

Daniele holds an MBA from London Business School and an Honours Degree in Aerospace Engineering from University of Rome "La Sapienza".

Bernard Fairman, Chairman of Foresight, commented:
“Foresight is a leading UK solar investor and thanks to Daniele’s appointment we now have an eight-strong dedicated solar investment team – the biggest in the industry - to help us maximise opportunities for investment in the growing renewable energy sector.  Daniele’s specific energy experience will ensure he plays a key role in managing our solar portfolio which continues to gain momentum.”

Daniele Tabacco added:
“What attracted me to the role is Foresight’s key position in the solar investment industry and the fact it is always one step ahead of the market.  Because of its dedicated team of solar experts and its years of experience, Foresight has gained a strong understanding of the sector and knows what it takes to create profitable investments.  I am looking forward to bringing my experience to bear on the team and Foresight’s portfolio of companies.”

Foresight has investments and local teams in three major solar jurisdictions, Italy, Spain and the UK.  The company’s European Solar Fund achieved final close in July 2009 and transactions totalling more than 30MWs have been completed to date in operating and construction stage assets.  In 2010, Foresight launched the UK’s first solar VCT, designed to maximise the UK government’s feed-in-tariff scheme which was announced in April the same year.  Foresight Solar VCT has already raised in excess of £30 million from individuals. Earlier this year, the company also launched its first solar EIS to cope with the demand for funding.

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