New global head of structured finance appointed
Lightsource bp, a global leader in the development and management of solar energy projects is pleased to announce the appointment of Craig Love as Global Head of Structured Finance.
As a former Managing Director of Natwest Structured Finance, Love has been at the forefront of the bank’s investment into renewables and solar over the last 10 years, driving it to become a market-leading franchise, and one the largest lenders to the sector. This deep sector knowledge, coupled with his long relationship with Lightsource bp, funding its first deal in 2012 and assisting it to raise more than £2bn to date, makes him the ideal choice to lead the company’s future growth ambitions.
Speaking about the appointment, Paul McCartie, Group Chief Investment Officer, said “Craig brings a wealth of knowledge and experience to the role. In addition to managing the structured financing, fundraising and M&A activities, he will continue to develop our financing capabilities and sources of funding as part of our growth ambitions.”
Craig further commented “I have always admired Lightsource bp’s entrepreneurial drive and spirit – it’s a unique business at the forefront of climate change. However, the attraction is much more than just cultural ‘fit’ – Lightsource bp has nearly trebled its development activity in a little over 2 years and has a global pipeline of 16 GW – it’s a very exciting time to join. As the company celebrates its 10th year in business, I look forward to working closely with investors and lenders to support both our and bp’s aspirations for the next decade of the company’s growth.”
A chartered accountant, Love started his professional career in corporate finance providing debt advisory and M&A services. He joined Natwest’s (then RBS) structured finance business in 2007 and for the last 10 years has been at the forefront of the renewables sector for the bank, becoming a trusted adviser for many leading investors, and arranging a number of high-profile transactions, including for Lightsource bp.
Over the last ten years, Lightsource bp has raised over £3.21 billion in project debt, including the largest ever sterling-denominated renewables bond (£245m). Since the partnership with bp, it has raised over £1.23 billion to finance 1.2GW of projects in North America, Spain and Australia. Through its partnership with bp, Lightsource bp represents a strategic and powerful partnership between one of the largest energy providers in the world and an industry-leading solar power company. The company has grown to become a recognised global leader in large-scale solar development, active across 14 countries.