A private investor has bought a 50% stake in the UK-based renewable energy company, Ethical Power Group.

Greg Skinner completed the acquisition on 31 December for 50% of the shares in Ethical Power from Hive Energy.

Ethical Power, a renewable energy company that operates across Europe and in New Zealand, was founded in 2010 in Exeter and has since become a global solar EPC contractor and one of the largest battery storage installers in the UK.

Skinner’s investment also includes the provision of an additional £15m working capital loan to help with the continued expansion of the renewable energy company’s operations.

Upon completion of the deal, Skinner will join the Ethical Power board, while the founder and CEO of the company, Thomas Kneen, will maintain a 50% share of the business.

Skinner, who co-founded the UK-based quantitative hedge fund Quadrature Capital Limited in 2010, also sits as a trustee of Quadrature Climate Foundation, which he established with his hedge fund co-founder in 2019.

Commenting on his investment, Skinner said: “I am excited about Ethical Power’s mission and the work it is doing to decarbonise the grid. Our values and ambitions are closely aligned – I deeply care about mitigating the impact of the climate emergency and supporting sustainable growth.

“Given [Ethical Power’s] strong leadership and impressive pace of expansion in recent years, it is well set up for further growth, and I am excited to be a part of the journey with Tom and the team.”

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