Parkmead’s chief financial officer, Ryan Strollger, has retired by mutual agreement.
He has been part of the Aberdeen-based Energy Group since its inception in 2010. At the age of 25, he became a commercial director.
Group Finance Controller Donald Wilson, who joined from NEO Energy in 2020, is now head of the finance department.
Details about the change were not disclosed in the latest information, which also announced that Andrew Smith, Managing Director of Renewable Energy, has been promoted to the board of directors and appointed Director of Business Development.
He has 19 years of business experience and spent the last four years driving the renewable energy movement as a senior executive on the executive team.
Mr Smith was instrumental in providing £5m cash back to the group through the negotiated sale of non-core land through the Pit Lady acquisition. Additionally, in 2022 Kempstone will lead the acquisition of Park Mead’s first operating wind farm in The Hills, delivering valuable long-term income.
Under his management, Kempstone Hill’s occupancy rate exceeded 98% in the first 12 months of ownership. Smith will now focus on driving new business opportunities, including further acquisitions and expansion of existing assets.
He will also serve as company secretary.
“As the Board continues to identify new opportunities to build the Group, it has embarked on an overhaul of the skills needed to support Parkmead’s growth strategy across its balanced energy portfolio.” says in the statement.
In the past 18 months, Parkmead has for the first time generated strong cash flow from Dutch natural gas fields alongside revenues from renewable energy by selling electricity directly from UK wind turbines into the national grid. It has come true.
The group will actively expand its asset portfolio as part of a “shift from an early tradition in oil and gas projects to a future focus on producing primary energy through greener processes of natural gas and renewables”. are reviewed and highly rated.
Executive Chairman Tom Cross commented: “Andrew has been influential in driving our renewable energy strategy since 2019, and his knowledge and expertise in the renewable energy space will be a valuable addition to the Board.”
“This is an exciting time with many attractive opportunities for Parkmead and Andrew’s appointment will further strengthen Parkmead’s focus on expanding its portfolio of renewable assets.”
“As in the past, we will maintain rigorous financial discipline across all our existing energy projects, while continuing to evaluate potential acquisitions that complement the Group and maximize shareholder value.”
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