On December 31st, Greg Skinner acquired a 50% stake in Ethical Power Group from Hive Energy, alongside providing a £15 million working capital loan to support the company’s continued expansion. Skinner will also join the board of Ethical Power following the deal.
Thomas Kneen, the founder and CEO, retains a 50% share in the company.
Founded in 2010 in Exeter, Ethical Power is a global renewable energy company, specializing in solar EPC and battery storage installations. With operations across Europe and New Zealand, the company has grown significantly since Hive’s 2021 investment, now employing over 300 people across five countries.
Ethical Power’s combined revenue exceeds £400 million, with more than 30 ongoing projects.
Skinner, a successful investor and co-founder of Quadrature Capital, also established the Quadrature Climate Foundation, through which he has committed over $1 billion in philanthropic grants. This acquisition is a personal investment by Greg Skinner.
Commenting on his investment in Ethical Power Group, Greg says: “I am excited about Ethical Power’s mission and the work that they are 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 their strong leadership and impressive pace of expansion in recent years they are well set up for further growth, and I am excited to be a part of the journey with Tom and the team.”
