Lightsource bp appoints Group Head of Risk and Energy Markets

21 December 2022, London: Lightsource bp, a global leader in development and management of renewable energy projects announces the appointment of Miguel Fernandez Hortelano as Group Head of Risk and Energy Markets. Miguel brings over 20 years of experience in the financial risk sector as well as many years within the energy sector.

He has built and led international teams in charge of enterprise risk management, from the risk of new investments to that of operating assets (commodities, FX, interest rate, credit, insurance, business continuity).

Most recently, Miguel was appointed as Head of Planning and Control and Risk at EDP’s Global Energy Management Unit, covering renewables, hydro, gas and coal, after a decade as Head of Global Risk at EDP Renewables (EDPR) managing market, credit, operational, business, and strategic risk. During that period, EDPR saw a growth of over 7GW in installed capacity and over five times increase in share price. Prior to servicing at EDPR, Miguel worked as strategy consultant (BCG, Indra) and project manager (Bouygues).

As Group Head of Risk and Energy Markets, Miguel will establish an Enterprise Risk Management Framework and manage the Global Risk Team, defining the policies and establishing the culture to properly measure, manage and monitor the different risks (market, credit and operational). As part of Lightsource bp’s Investment Committee, he will create the methodology to compare investments in different geographies in a risk adjusted return basis. Miguel will also be involved in evaluating options for the sale of electricity, considering the available choices, embedded risks and the diversification among them, to maximise value for the company. Miguel will also be responsible for the company’s long-term view in regulation, commodity prices and macro assumptions for Lightsource bp’s investments, to be coherent in all markets.

Miguel commented: “I am excited to be joining Lightsource bp during this critical growth period for the company and the industry. There are a lot of great opportunities that exist for the expansion of renewable energy generation and the risk function is aimed at supporting resilient investments as we grow our portfolio. I look forward to leading a talented, dedicated team to expand Lightsource bp’s position as a global renewable development leader with over a decade of success in the markets we serve.”

Miguel joins Lightsource bp’s team of nearly 1000 industry professionals working across 19 active markets. The company is targeting the development of 25GW of solar by 2025.