Barry is back!

Project Finance International, 25th March 2009

Barry Williams and former Freshfields finance head Perry Noble are setting up a fund-style company to invest in emerging renewable technologies and assets. Aleltho Energy should be up and running at the end of the month and launched by the end of June.

The company will have interim capital to invest, provided by the two founders and cornerstone investors. It will operate as a company, not strictly a fund, and seek to provide capital to renewable technologies that currently lack investment. The company will seek assets but might in addition take stakes in companies to secure a role in emerging technologies.

The initial focus will be on biomass in the UK and solar thermal in the Mediterranean region. The company is expected to get going with five staff and build to seven thereafter. Individual investments will be limited to £5m to £20m each. Williams will be the chief executive officer, and Noble the chairman. £

Williams left Land Securities Trillium (LST) after he and the partners in the SMIF secondary market fund sold the private finance initiative (PFI) vehicle. Noble left Freshfields a year ago, saying he was leaving law for good. His main clients had included Babcock & Brown and Macquarie.