Offshore wind
Announcements prior to September 2017, including this announcement, occurred under previous ownership.
17 July 2014
Nick Gardiner will take on the role of Managing Director, Offshore Wind and Karl Smith will take on the role of Fund Managing Director.
Gardiner will lead GIB’s offshore wind direct investment team. Since its launch in November 2012, GIB has made five investments in the offshore wind sector, totalling £642m and is the most active investor in the UK offshore wind market.
In June 2014, GIB announced its intention to raise a £1bn offshore wind fund. The Fund will make equity investments in UK unlevered operating assets, bringing new long-term investors into the UK’s green economy and helping to lower the cost of capital for offshore wind.
Smith, previously a Director in GIB’s offshore wind investment team, will take on the newly created role managing the Fund. The Fund will operate separately from GIB’s offshore wind direct investment team.
Ed Northam
Head of Investment Banking, UK Green Investment Bank
Media enquiries
Notes to editors
Gardiner joins GIB from BNP Paribas (formerly Fortis Bank) where he was instrumental in the development of the renewables project finance business (debt advisory and arranging), with specific focus on the offshore wind sector. While at BNP Paribas, Gardiner led the bank’s work on a number of high-profile projects in the UK and continental offshore wind sector, including four UK Round 2 offshore wind farms.
Smith led GIB’s principal equity investments in the offshore wind sector and has extensive experience in debt and equity investments and financial advisory across the energy and infrastructure sector. He joined GIB in 2012, having previously spent almost three years with advisory firm Hideal Partners, advising and developing energy and infrastructure M&A transactions. Prior to this role, Smith spent four years with Babcock & Brown in principal equity investment, and also held positions with ABN Amro, Macquarie Bank and KPMG.
