Nick Gardiner, Managing Director, Head of Offshore Wind, UK Green Investment Bank
Nick Gardiner joined the UK Green Investment Bank in September 2014 from BNP Paribas. As Head of Offshore Wind, Nick is responsible for the Bank’s principal investment activities – both equity and debt – in the UK offshore wind sector.
Nick first worked on wind financings in 1997. He joined BNP Paribas (formerly with Fortis Bank) in 1999, having previously worked at NatWest Bank. At BNP Paribas, Nick led the London project finance team, with responsibility for all UK power project financings, including onshore wind, and UK / continental European offshore wind projects. In this role, he was instrumental in the development of the Bank’s renewables project finance business (debt advisory and arranging). Nick led work on a number of UK Round 2 offshore wind farms and projects in the continental offshore wind sector, including the Gemini transaction in the Netherlands.
To date, the UK Green Investment Bank has invested in eight UK offshore wind projects – Galloper, Rampion, Sheringham Shoal, Westermost Rough, Gwynt y Môr, Rhyl Flats, London Array and Walney. Furthermore, the UK Green Investment Bank subsidiary, UK Green Investment Bank Financial Services Limited, has reached second close on the world’s first offshore wind fund, and has invested in five offshore projects totalling 1.2GW.
The offshore wind industry has seen a rapid transformation in the UK to date. The Government’s recent announcement regarding the maximum price for offshore wind projects set at 25% lower than in the last auction and expectations for bringing down the price further (as a result of competitive auction) indicates sector attractiveness to investors. The […]