DEVELOPER
& INVESTOR
OF RENEWABLE
ENERGY
PROJECTS

Berkeley Energy is a renewable energy
fund manager investing in Asian and African
emerging markets.

ABOUT

Berkeley Energy is an investment manager founded in 2007 to invest private equity into renewable energy infrastructure in developing markets. It manages:

The Renewable Energy Asia Fund (REAF) invests into small hydro, wind, geothermal, solar, landfill gas and biomass projects in Asian developing markets, with a primary focus to date in India and the Philippines.

The Africa Renewable Energy Fund (AREF) invests into small hydro, wind, geothermal, solar, stranded gas and biomass projects across Sub-Saharan Africa, excluding South Africa.


Berkeley Energy has deep renewable energy and power engineering, construction and investment experience in developing markets, where it is a focused investor, developer and deliverer of renewable power assets. Berkeley works with its partner companies to provide engineering, management and financial support, whilst offering the ability to act as a bankable sponsor for renewable power projects.
Once built, Berkeley Energy matures and consolidates its assets regionally or by technology into operating portfolios which it would seek to exit.

Our approach is hands-on, asset-first, technically orientated. We look to receive our returns through holding equity in well-conceived and constructed projects and not through development fees, consultancy or asset-flipping.
Berkeley Energy has offices in London, Singapore, Mauritius, Delhi and Nairobi and a presence in Manila.

Members of the group are authorised and regulated respectively by the United Kingdom Financial Conduct Authority and in Mauritius by the Financial Services Commission.

THE TEAM

Berkeley Energy has assembled a team with a balance of operating and financial expertise to underpin the successful execution of the firm's strategy.

Cumulatively, the management have delivered over 115 renewable energy projects and over 70 conventional energy projects in developed and emerging markets. This experience of successfully identifying, costing, constructing and operating assets across technologies, countries and regulatory environments to be a competitive advantage and key value driver for the firm.

Berkeley Energy's operational capabilities are complemented with dedicated financing, legal and structuring professionals with experience in private equity, infrastructure and renewable energy transactions. This balance of operational and transaction expertise combines the project development, construction and operations expertise of an industrial firm, with the flexibility, financial rigour and discipline of a financial sponsor.

TC Kundi
Robert Renfrew
Alastair Vere Nicoll
Andrew Reicher
Edward Njoroge
Thierno Bocar Tall
Michael Brown
Luka Buljan
David Hastings
Ian Griffiths
Anwar Zaib
Joost Van Acht
Divyansh Johar
Richard Scott
Kodjo Afidegnon
Shelley Killiard
Camille Astier
Nicholas Tatrallyay
Yi Chiang
Akiva Bonnick
Avnish Misra
Nitin Saxena
Shantipriya D'Souza
Stephanie Yeung

TC Kundi - Managing Partner and Investment Committee member - REAF and AREF

Mr. Kundi is a co-founder of Berkeley Energy. He is the Managing Partner, directing the firm's development since its incorporation, and is a member of the REAF Investment Committee and is the Chairman of the AREF Investment Committee.

He is also a board member for all REAF and AREF portfolio investments.

TC Kundi also oversees Berkeley Energy India, Berkeley's subsidiary in New Delhi and Berkeley Energy Renewables Singapore, its subsidiary in Singapore which provide operational and administrative support to the manager of REAF. Mr. Kundi is one of a handful of professionals globally who has acted as a principal owner and operator of renewable energy assets for 25+ years.

Mr. Kundi is a Mechanical Engineering (BEng Hons), and holds a post graduate Certificate in Business Administration from University of Warwick. He is a Chartered Mechanical Engineer (C Eng) with the IMechE and a Chartered European Engineer (Eur Ing) with FEANI.

Mr. Kundi is based in Singapore.


Robert Renfrew - Partner and Investment Committee member - REAF

Mr. Renfrew is a partner in Berkeley Energy and member of the investment committee of REAF. 

Mr. Renfrew leads the project management, technical and engineering aspects of Berkeley's projects. He is a board member on several portfolio companies. Mr. Renfrew has 30+ years of renewable energy and waste experience delivering projects for Balfour Beatty, EDL, Novera Energy and WRG across Europe, North Africa, Asia and Australia. In Asia, he has worked on projects in India, Philippines, Thailand, Sri Lanka, Papua New Guinea, Malaysia and Indonesia and has deep and proven experience of sub-contracting and delivering projects in the Asian environment. 

Mr. Renfrew has held senior positions with major energy organisations across the globe including as Chief Operating Officer with WRG developing its renewable business with Mr. Kundi. His technology and operations experience includes biomass, wind, hydro, landfill gas, coal seam/bed methane recovery along with mains gas, coal and diesel fuelled power projects.

Mr. Renfrew is based in Manila.


Alastair Vere Nicoll - Partner and Investment Committee member - REAF and AREF

Mr. Vere Nicoll is a co-founder of Berkeley Energy and is a partner and member of the Investment Committee of both AREF and REAF. Mr. Vere Nicoll has a key role in the negotiation and structuring of investments. He is a board member of various portfolio companies and the group general counsel.

Mr. Vere Nicoll was previously with leading international law-firm Freshfields Bruckhaus Deringer in their Private Equity Team, latterly specialising in infrastructure deals in the renewable energy and water sectors. Mr. Vere Nicoll has acted for many of the UK's leading infrastructure and buy-out houses. Mr. Vere Nicoll has a first class BA from Oxford University and was awarded an undergraduate scholarship while there.

Mr. Vere Nicoll also founded, organised and took part in a ski traverse of the continent of Antarctica in 2004 and 2005 in the footsteps of Roald Amundsen. He has written a book about the experience; Riding the Ice Wind.


Andrew Reicher - Non-Executive Chairman of the REAF Investment Committee and member of AREF Investment Committee

Mr. Reicher is an independent member, and Chairman, of the Investment Committee of REAF and a member of the Investment Committee of AREF, involved in assisting in the decision-making process for investments.

Mr. Reicher has 20+ years of private equity investment and 10+ years of investment banking experience. He is one of a limited number of professionals with deep investment experience of emerging markets and infrastructure, with particular expertise in Asia and Africa, the creation of public/private partnerships, and infrastructure (particularly power generation). He has a successful investment track record in these fields, and in creating and re-engineering processes and devising innovative financial structures. From 2000-08 Mr. Reicher worked with Commonwealth Development Corporation (including the private equity firm Actis which was created in CDC's privatisation process), as its Chief Investment Officer (chairing all the investment committees), head of its first Infrastructure Fund, and then CEO of Globeleq, the wholly-owned electricity generation company operating in Africa, Asia and Latin America.

The funds he was involved with at CDC all achieved high cash multiples and rates of return. Prior to CDC he worked with Credit Suisse First Boston and Citicorp. Mr. Reicher has a BA in Economics from Cambridge University, and a MA in Economics from the University of Pennsylvania.

 Mr. Reicher is based in Nairobi.


Edward Njoroge - Non-Executive Investment Committee member - AREF

Edward Njoroge is a member of the investment committee for AREF.

For 10 years up to mid-2013, he was the Managing Director of Kenya Electricity Generating Company (KenGen). While at KenGen, Mr. Njoroge played a pivotal role in the strategic and operational transformation of the company and its successful flotation on the Nairobi Stock Exchange. His vision was for Kenya to be powered by green energy and he is credited with having implemented several hydro projects, the first wind project and the biggest geothermal plant in Kenya.

Mr. Njoroge is currently the Chairman of the board of the Nairobi Securities Exchange, and Telkom Kenya Limited, and Chairman of the Investment Committee of the Aureos East Africa Fund. He is a member of the Board of CfC Stanbic Bank and Real Insurance Ltd.

He was previously chairman of the World Energy Council Kenya Chapter and the President of the Union of Producers, Transporters and Distributors of Electric Power in Africa.


Thierno Bocar Tall - Non-Executive Investment Committee member - AREF

Thierno Bocar Tall is a non-executive member of the investment committee for AREF.

He is Chairman and CEO of the African Biofuel and Renewable Energy Company, which promotes and invests in the development of renewable energy across Africa and owned by 6 African institutions and 15 African sovereign states. Mr. Tall has significant experience in the African energy sector most notably in project development and fundraising.

Mr. Tall has worked in the Ministry of Finance and Economic Affairs of Senegal and the ECOWAS Bank of Investment and Development, where he held several positions, including Head of Division (Operational Policies and Procedures) and Director of Studies and Strategic Planning. He is also a board member for ECOBANK, Vice President for Africa of the Group of Experts on Global Energy Efficiency 21 (GEE21) and a member of the Board of Trustees of the Global Village Energy Partnership.

Mr. Tall is a Senegalese national, based in Lome, Togo.


Michael Brown - Investment Director - REAF

Mr. Brown is the Investment Director and member of the Investment Committee of REAF. He supports the partner group in sourcing, negotiating, structuring, executing and managing investments for REAF.

Mr. Brown has over 12 years experience in private equity, corporate finance and advisory work, across acquisitions, leveraged buy-outs, direct equity investments, structured carbon finance and strategy, with experience of operating in India, SE Asia, China, Korea, the Middle East, North Africa and throughout Europe.

Mr. Brown has previously worked at KPMG and a private equity advisory boutique, whilst in his prior position to Berkeley, with Climate Change Capital, he was responsible for managing investments in the Indian and SE Asia region, leading and executing direct investments and holding board positions on investee companies. His technology experience includes biomass, wind, hydro, solar, waste to energy, industrial energy efficiency and biofuels. Mr. Brown holds a BSc from the University of Bristol and undertook a postgraduate engineering course in renewable energy technologies.

Mr. Brown is based in London and Singapore.


Luka Buljan - Investment Director - AREF

Mr. Buljan is the Investment Director and member of the investment committee of AREF. He is an experienced energy industry executive with a strong focus on emerging markets, particularly sub-Saharan Africa, and a track record in closing transactions and managing businesses. He was the Chief Operating Officer of African Power Corporation, a power project developer where he worked on a 600 MW hydro project in Congo-Brazzaville.  

Prior to that he has spent ten years within a couple of investment vehicles for Actis Capital LLP, an emerging markets private equity investor, where he played several roles: CEO of Empower, a start-up providing interim power generation solutions and Director, Business Development at Globeleq, a company specialised in acquiring and developing power generation and distribution projects.  With Empower and Globeleq Mr. Buljan closed several important transactions in power generation and distribution infrastructure in Uganda, South Africa, Tanzania, Mauritania and South Sudan, and pursued other projects in many other countries across the continent. 

Previously he has worked in the New Investment Office of CDC Capital Partners, the predecessor of Actis, as a management consultant in Italy and as an entrepreneur in Croatia. Mr Buljan holds an MBA from IESE Business School in Barcelona, a degree in Mechanical Engineering from the University of Zagreb and is fluent in five languages.

Mr. Buljan is based in Nairobi.


David Hastings - Project Director - AREF

Mr. Hastings is responsible for the due diligence, engineering, procurement and project management of AREF investments. 

Mr. Hastings has 25+ years of development, engineering, construction and operations experience in the major infrastructure and renewable energy industries, across Europe, North America, South America, Australia and Asia. He has held a variety of senior management technical, commercial, contractual and operational roles for contractors, developers, owner operators and consultants and has a strong track record of primary responsibility for over 20 operating wind power projects, as well as having experience in energy storage, geothermal, solar, hydro and biomass technologies.  Mr. Hastings holds a BEng with Distinction from Dundee Institute of Technology.

Mr. Hastings is based in Nairobi.


Ian Griffiths - Project Director - REAF

Mr. Griffiths has 15+ years of experience in managing multidisciplinary teams in the development, construction and operation renewable energy and waste management assets in the UK and Australia.  

Mr. Griffiths has a strong operational and contract management background and has held management positions in Waste Recycling Group, working with Mr. Kundi and Mr. Renfrew, in the UK, Boral Australia and Tox Free Australia.

Prior to joining Berkeley Energy, Mr. Griffiths lived and worked in the remote Pilbara region of Australia in the capacity of technical projects manager and latterly business development manager. Mr Griffiths was responsible for supporting a portfolio of blue chip mining and LNG clients in a challenging geographic setting, during a period of unprecedented growth in the resources sector.

Mr. Griffiths has a BSc (Hons) from the University of Wales and is based in the Berkeley Energy Singapore office.


Anwar Zaib - Finance Director - REAF and AREF

Mr. Zaib is responsible for financial reporting and controls across the organisation. He has gained extensive experience in the financial services sector while working for leading institutions including State Street Corporation, Capital Dynamics and The Bank of New York Mellon.

Mr. Zaib has been involved in numerous successful projects involving funds launch, funds migration, backoffice outsourcing and system implementation of regulated and non-regulated investment funds. His primary expertise is in financial reporting and control, investor relations and reporting, taxation, regulatory reporting and compliance in the investment industry across different jurisdictions, primarily UK, USA, EU, Singapore and Mauritius.

Mr. Zaib is a qualified Chartered Certified Accountant (ACCA), holds a 1st Class degree in finance and he is fluent in Pashto and Urdu. 


Joost Van Acht - Senior Investment Manager - REAF

Mr. Joost van Acht is a renewable energy executive and entrepreneur, with extensive experience in emerging markets and the clean energy sector in Asia. At Berkeley Energy he is responsible for origination, negotiation, structuring and execution of investments in Asia and development of new markets.
 
Mr. van Acht was previously with Macquarie Capital, an investment bank with a strong focus on infrastructure finance. His focus at Macquarie was on principal investments in the clean energy sector in Asia. Prior to that he was with UPC Renewables, a global developer of wind and solar projects, where he initiated its solar business in Indonesia and led public tender submissions for IPP projects. He has previously initiated several businesses in the field of environment and energy, and is a co-founder of Blue World Carbon.
 
Mr. van Acht holds an MSc from Erasmus University Rotterdam and has been based in Asia since 2002. Mr. van Acht is based in Singapore.


Divyansh Johar - Investment Manager - REAF

Mr. Johar is the Investment Manager for REAF. He is involved in financial analysis of investments, preparation of investment papers and management of various aspects of the transaction process (including co-investment and project finance debt raise). He also screens and evaluates potential investment opportunities for REAF.

Mr. Johar is a finance professional with extensive experience in investment analysis, business modelling and valuation. Prior to Berkeley Energy, Mr. Johar has worked with the Transaction Advisory team at Ernst & Young. He has advised clients in the infrastructure sector (conventional power, renewable energy and roads) on project finance, debt raise / restructuring, private equity and bid advisory. 

Mr. Johar holds an MBA from Indian Institute of Management (IIM), Lucknow and received his Engineering degree in Metallurgical Engineering and Materials Science from Indian Institute of Technology (IIT), Bombay.

Mr. Johar is based in New Delhi.


Richard Scott - Project Manager - AREF

Mr Scott supports the due diligence, engineering, procurement and project management of AREF investments.

A chartered civil engineer (ICE) and project manager (APM), Mr Scott has over 10 years of experience delivering over 120 projects across 9 countries throughout the Middle East, Central Asia and East Africa. Much of his experience was gained through managing large infrastructure development programmes in Iraq and Afghanistan. In particular, he has been involved in the feasibility, design, planning and delivery of a wide range of projects and programmes, including several wind farms and hydro schemes, and has also led various studies into hydro, biomass and solar technologies.

He has worked in the capacity of a contractor, power developer, utilities provider, government department and in various engineering and project delivery roles as a consultant. Mr Scott holds a 1st class Beng from the University of Edinburgh and has won various awards for project management including Mott MacDonald project manager of the year in 2007 and most recently an outstanding achievement award from British Expertise in 2013.

Mr. Scott is based in Nairobi.


Kodjo Afidegnon - Project Manager - AREF

Mr. Afidegnon is a hands-on engineering professional with good business insight. He has over ten years' experience in business development, construction, and operation of energy infrastructure projects. Prior to joining Berkeley Energy, Mr. Afidegnon worked at ContourGlobal where he held a Project Manager position and worked on power projects in Mali, Senegal, Benin and Togo (100 MW Power Plant in Lome), and led the Kivuwatt Project in Rwanda. Previously, he worked as a Production Engineer for Shell Exploration and Production Company in the U.S. where he managed multi- million dollar oil and gas infrastructures projects.

Mr. Afidegnon holds a Master's degree in Mechanical Engineering (University of Toledo) and is currently pursuing a Doctor of Business Administration program with Walden University.

Mr. Afidegnon is based in Nairobi.


Shelley Killiard - Legal Counsel - REAF

Miss Killiard is legal counsel for REAF. Miss Killiard is responsible for all legal matters for REAF relative to both debt and equity, including negotiation, structuring and documentation. She manages the investment holding structures and is responsible for company secretarial and compliance matters. 

Before joining Berkeley, Miss Killiard was with London City firm CMS Cameron McKenna for six years where she was in the infrastructure and project finance group. She has advised numerous banks and financial institutions and also borrowers and consortia on a wide variety of project, structured and corporate finance transactions both in the UK and overseas across a broad range of sectors, including: energy; transport; defence; social infrastructure; and secondary markets. Miss Killiard has an LLB (Hons) degree in Law and Italian from the University of Strathclyde, Glasgow.

Miss Killiard is based in Singapore.


Camille Astier - Legal Counsel - AREF

Ms. Astier is legal counsel for AREF.  She is an integral member of the investment team working on the structuring and negotiation of equity and debt financing and also all legal compliance. 

Ms. Astier qualified as a lawyer in 2004 in the leveraged finance team of Allen & Overy before joining the banking team of Hogan Lovells in 2012 where she became global coordinator of their Africa practice and the founder and editor of their quarterly Africa newsletters. 

She has been involved on many African transactions, acting for sponsors, international and African banks and DFIs and publishes articles on legal developments in Africa.  Ms. Astier obtained law degrees in France, Germany and England.  She was shortlisted in the Legal Week awards for 2013 for her work in relation to Africa.

Ms. Astier is based in London and Nairobi.


Nicholas Tatrallyay - Investment Associate - AREF

Mr. Tatrallyay is an investment professional with 5+ years experience in environmental finance and renewable energy investments.

Prior to joining Berkeley, Mr. Tatrallyay was a Director at a solar developer. He developed the company's strategy for Africa and was in charge of building relationships with funding institutions and EPC firms, as well as originating and evaluating new project opportunities in Africa. Prior to this, Mr. Tatrallyay worked at Climate Change Capital ('CCC'), an asset manager and advisory group focused on the transition to the low carbon economy.

At CCC, Mr. Tatrallyay was responsible for managing and co-managing CCC's emission reduction projects and equity and structured finance investments in South East Asia, Central Asia and Latin America and developing new investment opportunities and strategies for CCC. Aside from his work at CCC, Mr. Tatrallyay has written papers on climate finance and is a guest lecturer at Imperial College where he has given presentations on the intersection of climate and project finance. He is fluent in French.

Mr. Tatrallyay is based in Nairobi.


Yi Chiang - Investment Associate

Ms. Chiang is responsible for assessing investment opportunities, structuring debt finance and preparing investment proposals for REAF.

Ms. Chiang is an investment professional with 5 years experience in various activities throughout the investment process: from investment acquisition to structuring, due diligence, financial analysis, documentation and monitoring. Prior to joining Berkeley Energy, Ms. Chiang was a Senior Portfolio Analyst responsible for project finance and corporate finance transactions in diverse sectors  (infrastructure, telecommunication, manufacturing, etc.) across Asia and Africa at FMO (the Dutch development bank). Ms. Chiang holds a Master's of Science in Management of Technology from Delft University of Technology (the Netherlands) and a Bachelor's of Science in Electrical Engineering from National Cheng Kung University (Taiwan).

Ms. Chiang is based in Singapore.


Akiva Bonnick - Environmental & Social Manager - REAF and AREF

Ms. Bonnick is responsible for Environmental and Social management across the organization specifically relating to early stage risk assessment and categorization, supporting the portfolio team on a day to day basis to maintain E&S compliance and awareness, and ensuring continued alignment with investors regarding their prescribed E&S requirements.

Prior to joining Berkeley, Ms. Bonnick was a Senior E&S Analyst responsible for (renewable) energy projects at FMO (the Dutch development bank). She has 4+ years assessing the E&S risks and seeking opportunities for energy projects, managing consultants as well as maintaining the E&S quality of the portfolio specifically for projects in Africa and Latin America. Prior to FMO, Ms. Bonnick worked as a project engineer in Jamaica. She holds a Master's of Science in Environmental and Energy Management and a Bachelor's of Science in Civil Engineering.

Ms. Bonnick is based in Singapore.


Avnish Misra - Portfolio Finance Director - REAF

Avnish Misra is a chief financial officer available to portfolio companies to set up their financial controls and create consistent project level accounting and control for REAF.

Mr. Misra is a Chartered Accountant with over 11 years of post-qualification experience. He has extensive experience in Indian GAAP audit and reviews, International Financial Reporting Standard (IFRS) Audit and Conversion, SOX Compliance audits, process reviews and controls. He has worked in assurance and accounting advisory roles at KPMG and S. R. Batliboi (a member firm of Ernst & Young) and was working as a General Manager at Jubiliant Oil & Gas before joining Berkeley Energy. Mr. Misra has worked in various sectors such as infrastructure, real estate and government.

Mr. Misra is based in New Delhi.



Nitin Saxena - Portfolio Finance Director - REAF

Mr. Saxena is portfolio finance controller for REAF. He works with project companies to set up financial reporting processes and control procedures, maintain the treasury of the portfolio companies and establishing consistent project-level accounting and reporting systems.

Mr. Saxena is a Chartered Accountant from the Institute of Chartered Accountants of India with over nine years of post-qualification experience in India GAAP audits and reviews, Technical Consultancy and Subject Matter Reviews under International Financial Reporting Standard (IFRS) and US GAAP, Audits and reviews of Asset Management Companies under US GAAP and IFRS, SOX Compliance audits, Process reviews and controls. 

He has worked in assurance and business advisory roles at Lovelock & Lewes (a member firm of PricewaterhouseCoopers) and was working as a Manager at Deloitte & Touche before joining Berkeley Energy. Mr. Saxena has worked in various sectors such as asset management/financial institutions, telecom, banking and healthcare.

Mr. Saxena is based in New Delhi.



Shantipriya D'Souza - Financial Controller - REAF

Ms. D'Souza is responsible for fund and regulatory reporting and business operations in Singapore. 

Prior to joining Berkeley, she has worked with JP Morgan India Private Limited and SS&C GlobeOp Financial Services and has been involved in successful projects involving process migration and client onboarding. 

Ms. D'Souza is a finance professional with over seven years of experience in fund accounting, fund reporting and Investor services. Miss D'Souza holds a Post Graduate Degree in Finance from Symbiosis Institute, Pune and received her Bachelors of Commerce from Tolani College, Mumbai.

Ms. D'Souza is based in Singapore.


Stephanie Yeung - Financial Controller

Mrs. Yeung is responsible for fund accounting and reporting in Mauritius. 

Prior to joining Berkeley Energy, Mrs. Yeung was the compliance officer at a local offshore management company and was also in charge of a portfolio of offshore clients.  

Mrs. Yeung is an associate of the Association of Chartered Certified Accountants and holds more than 6 years of experience gained by working in professional practices in Mauritius and the UK.

Mrs. Yeung is based in Mauritius.



CAREERS

Investment Analyst Africa
Location: Nairobi
Berkeley Energy is seeking a junior finance professional with an accounting, corporate finance or investment background to support the investment process for Berkeley Energy's African investment activity, undertaking financial analysis, financial modelling, research, due diligence and transaction support. READ MORE
Projects Manager for Asia
Location: Singapore
Berkeley Energy is seeking experienced engineering professionals to for the management of development and construction of Berkeley Energy's portfolio of renewable power investments, working within a private equity investment context. READ MORE
Senior Investment Manager Africa
Location: Nairobi or Accra
Berkeley Energy is seeking experienced investment and/or project development professional to be responsible for managing the investment process for Berkeley Energy's portfolio of projects in Sub-Saharan Africa, across the investment cycle from execution to portfolio management. READ MORE