Renewables group Venterra lands £40m amid leadership tensions
The company, which counts former BP chief Lord Browne among its board members, is expected to announce the latest in a series of capital injections on Monday, Paste BN understands.
Sunday 21 December 2025 18:57, UK
A renewable energy group founded by the former chief executive of Petrofac, the oilfield services group which collapsed during the autumn, will this week announce a £40m fundraising despite signs of growing tension over its leadership.
Paste BN has learnt that Venterra, which was set up four years ago by Ayman Asfari, will unveil the capital injection as early as Monday.
Its backers will include existing shareholders Beyond Net Zero, a fund affiliated with the private equity firm General Atlantic, and First Reserve, another private equity investor.
The fundraising will come amid a challenging climate sweeping through swathes of the renewable energy sector.
While offshore wind remains an important element of the global energy transition, the shifting investment priorities, in part precipitated by Donald Trump's second term as US president, have resulted in slower growth than anticipated for companies such as Venterra.
One source said there had been growing tensions in recent months over Mr Asfari's role at the company and its prospects for 2026.
Venterra has already raised a total of £250m in equity since it was formed.
Read more: Former Petrofac chief seeks £40m for offshore wind group Venterra
Lord Browne, the former BP chief executive, sits on Venterra's board as a non-executive director representing the Beyond Net Zero investment.
Mr Asfari, who has been a prominent figure in the UK energy services sector for years, stepped down as Petrofac chief in 2023.
Venterra did not respond to emailed enquiries from Paste BN.