Lightsource BP has named Ricardo Folgado as its new structured finance director, poaching the experienced executive from General Electric.
His hire comes amidst a raft of recruitment activity at the UK-based solar developer following BP’s decision to purchase a 43% stake in the firm at the end of last year.
Folgado served at General Electric for eight years, holding a number of roles covering global investor strategy and partnerships. He’d previously held financial services-related roles at the likes of Accenture and HSBC.
His role at Lightsource BP will see him tasked with structuring investments and power purchase agreements, while also looking at fundraising.
Paul McCartie, group CFO at Lightsource BP, said Folgado would be a “valued addition” to the team as investors increasingly turn to solar PV as an investment destination.
“His knowledge of financial services strategy will help us better navigate the market’s shift to unsubsidised renewable energy and deliver on our 6GW growth pipeline in the US, India, Europe and the Middle East,” he added.