June 28, 2018 / 11:02 AM / 3 months ago

MOVES-U.S. boutique bank PJ Solomon names head of renewable power

NEW YORK, June 28 (Reuters) - PJ Solomon has hired Jim McGinnis to head its renewables coverage, the firm said in a statement on Thursday, as the U.S. boutique investment bank seeks to bolster its expertise at a time of heightened interest in clean energy.

McGinnis most recently served as founder and chief executive of the financing and investments unit of Irish wind and solar firm Mainstream Renewable Power Ltd, and has more than 25 years of experience in the energy sector including at Morgan Stanley and Goldman Sachs Inc, the statement said.

PJ Solomon, majority-owned by French bank Natixis since mid-2016, has been adding bankers in its infrastructure, power and renewables segment with Jeff Pollard joining in October from Goldman Sachs to head the bank’s power coverage.

Renewable energy generation in the United States has been growing at a significant pace, accounting for over half of the country’s annual added electric capacity in five of the six years between 2012 and 2017.

While President Donald Trump’s administration has implemented policies seen as unfavorable to the renewables sector, including the ending of tax credits and tariffs on imported solar panels, demand from states and corporations for more clean energy and the falling cost of technology is expected to support further growth.

Reporting by David French; editing by Diane Craft

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