Novus Modus/ESB Novus Modus
Launch of ESB Novus Modus in the UK
Novovus Modus announced the opening of its London office and the launch of ESB Novus Modus in the UK on Monday, March 8th. Novus Modus is adviser to ESB Novus Modus, the €200m cleantech and renewable energy investment fund established by ESB, which is the sole investor in the fund.
Novus Modus now has offices in London in Dublin and has a team of around 10 investment professionals led by Michael Aherne and Richard Nourse. Novus Modus provides capital, support and knowledge to the clean energy and energy efficiency sectors.
The fund is seeking to make investments in Ireland, the UK and northwest Europe. The investment brief is wide and include investments in companies, projects and management teams involved in:
- Generating electricity and/or heat from renewable resources
- Renewable generation technologies
- Energy efficiency and smart-grid technologies and infrastructure.
- Support and finance of these activities.
The fund is part of ESB’s response to the twin challenges of climate change and energy security. ESB plans to invest over €20bn by 2020, largely to enable the transition to a low-carbon economy.
