Foresight adds to Solar Team

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2 November 2009: Foresight Group (“Foresight”), the leading alternative asset manager, has strengthened its Solar Team with the appointment of Humberto Santillana as Investment Director.  Initially based in Madrid, Humberto will be responsible for the origination and execution of Solar Photovoltaic (PV)   investments by Foresight in Spain and other target countries in Europe. 

Humberto Santililana is a specialist in project financing with a number of years experience in the solar and renewable energy sectors. Humberto joins Foresight from Fotowatio in Spain, where he was a Director in the Acquisitions and Financing Department specialising in Solar PV and concentrating solar power (CSP) related transactions, completing a 6MW PV project and several framework agreements. Prior to this position, Humberto performed a similar role for Babcock and Brown, where he was responsible for the origination and execution of infrastructure related transactions, including deals in the energy and renewables sectors.

Jamie Richards, who manages Foresight’s solar fund, commented:
“Given Foresight’s experience in this sector and the rapid geographic expansion of the solar industry, we are looking to accelerate the growth of our solar portfolio across Southern Europe.  Humberto’s knowledge of the solar sector, his Spanish network, and experience of project finance will help us achieve this goal. Our growing institutional investor base is attracted to the solar sector by the combination of double digit annual yields and inherently low risk assets.”

Humberto Santillana added:
“Foresight has built up a strong reputation in the solar sector and I look forward to applying my knowledge and experience to help grow the business further.  This is an exciting time for the solar industry and I am excited to be working for an asset manager that recognises the investment potential of this sector, not only in Spain and Italy, but across Europe.”

Humberto holds a bachelors degree in Economics from Instituto Tecnologico Autonomo De Mexico, Mexico City and a masters degree in Business Administration from Instituto de Empressa, Madrid. 

Foresight launched its first solar fund in May 2008 and since then has made three investments in projects in Italy and Spain, with a total capacity of 19 MW.