Financial wizard quits Aquamarine Power to take charge at Green Highland Renewables

Richard Round, Chief Executive-designate, Green Highland Renewables
Richard Round, Chief Executive-designate, Green Highland Renewables

Hydro power firm Green Highland Renewables has appointed Richard Round as its new Chief Executive Officer. He will join the Perth-based small-scale hydro specialists in August.

Round has a 25-year track record in senior finance and leadership roles, principally in the energy and mining sectors, and for the last four years was chief financial officer Aquamarine Power where he developed the business plan and raised in excess of £60 million for the Edinburgh-based tidal energy firm.

Prior to this, he was acting chief executive of quoted Novera Energy plc, where he managed the sale of the wind, landfill gas and hydro group for over £100 million.

Round will join the current Managing Director Ian Cartwright, who has successfully led the firm’s rapid growth from 2011 to date. Cartwright will now take a hands-on role as Chief Operating Officer for the company’s expanding portfolio of sub-2MW UK hydro schemes.

Green Highland Renewables is backed by the Environmental Energies Fund, a specialist green energy investment portfolio managed by leading UK growth equity and venture capital firm Scottish Equity Partners.

The Environmental Energies Fund (EEF) is a £70 million secondaries fund formed by Scottish Equity Partners to acquire and invest in a portfolio of innovative UK-based green energy businesses. The fund is managed by SEP and operates as a partnership between FTSE-100 listed SSE plc, and the fund’s blue-chip financial backers Lexington Partners, Hermes GPE, F&C Private Equity and Partners Group.

Commenting on his new appointment, Round said: “This is a very exciting time to be joining the business. Green Highland Renewables has successfully consented 37 projects since 2010. The firm has built seven schemes, has eight under construction and will be delivering a very active pipeline over the next few years.

“My role will be to maximise the value of the existing portfolio and develop a strategy to deliver growth. This will free up the existing first-class team to ensure delivery of all aspects of current schemes and actively seek new development opportunities and project partners.”

Since 2007, Green Highland Renewables has worked on a wide range of run-of-river schemes at every phase of the development process, from initial concept through to consent, construction and operation, as well as providing remedial works and scheme optimisation. The company claims a 100% success rate in gaining planning consent for hydro schemes.

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