Speakers
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Panos Ninios Co-Founder and Managing Partner
Panos Ninios is a Co-Founder and Managing Partner of True Green Capital Management LLC (“TGC”). He is primarily responsible for defining the firm’s investment strategy, portfolio management, risk management and capital strategy. Panos is the Chairman of the Investment Committee and contributes decades of experience investing in the North American and European renewable energy markets bringing deep regulatory and operational expertise to the TGC team.
Prior to TGC, Panos was a Managing Director for four years at Plainfield Asset Management, a special situations hedge fund based in Greenwich, Connecticut with over $5 billion in assets under management. During his tenure, he was responsible for a global $1.5 billion energy portfolio consisting of private equity, high yield debt and bank debt. While at Plainfield, Panos was a pioneer of what has now become known as the “energy transition” movement. He built and managed an approximately $250 million renewable energy private equity portfolio across a variety of technologies. In that context, Panos evaluated and invested in solar, biomass and biofuel production and power generation, bioplastics production and equipment manufacturing, and more mature technologies such as gas power generation and LNG. His experience at Plainfield informed Panos’ focus on distributed, commercial & industrial (“C&I”) solar power generation, as well as batteries and microgrids, as an actionable segment of the market that provides one of the most attractive risk/return profiles within the renewable energy sector. These areas have been TGC’s focus since the firm’s founding in 2011.
Earlier in his career, Panos was an Executive Director with the Goldman Sachs commodity business (JAron) in London, where he concentrated on European power and gas markets and distressed debt power markets. Panos also spent eight years with McKinsey & Co, where he eventually became an Associate Partner, serving major US and European energy companies on deregulation, M&A and commodity risk management. While working on his doctoral thesis, Panos acted as a consultant to the UK power sector, principally the Southern Electric PLC, and spent a year as a financial derivatives analyst at Intercapital Brokers in London.
Panos holds a Ph.D. in Electric Power Industry Deregulation Economics from the London Business School. His thesis addressed power industry deregulation in the UK, the first electric power industry to deregulate, globally. Panos’ work toward his Ph.D. laid the foundation for his professional career, providing Panos with the knowledge and skill set that has placed him at the forefront of electricity market innovation. In addition to his Ph.D., Panos holds an M.Sc. in operations research from the London School of Economics, an M.Sc. in computer science from the University of Dundee, UK and a B.Sc. in pure mathematics from the University of Patras, Greece.
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Will Morgan Managing Director, Europe
Will is the Managing Director for Europe at True Green Capital Management’s UK subsidiary (“TGC”), responsible for leading the firm’s European investment and growth strategy.
For over 9 years prior to joining TGC, Will held the positions of fund manager and head of renewables at Alpha Real Capital setting up and then growing their distributed renewable energy infra platform to £1bn in assets with responsibility for a combined portfolio of 420MW including 240MW of solar PV at nearly 50 locations. Prior to that, Will acted as finance and portfolio director for Plenium Partners, Madrid, investing across European and international energy markets with oversight for a 330MW operational portfolio in Spain and Italy, including 100MW of solar PV commissioned between 2010 and 2013.
Will holds an International Full Time MBA from ESADE Business School, a PGDip in Urban Property Appraisal from University West Scotland (UWS), and a joint BA Hons in Philosophy & Spanish from University of Leeds.
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Sam Salisbury Director
Sam is a Director of Origination at True Green Capital Management’s UK subsidiary (“TGC”). Based in London, UK, he is responsible for leading origination and acquisition for the firm in Europe.
Prior to starting at TGC in 2022, Sam was the managing director of Kinectrics UK Ltd. where he led a European wide business providing services to the electricity transmission and distribution industry. He also spent ten years at Centrica, one of the UK’s largest energy companies, where he held various roles including VP of The Innovation Labs, investment principal of the Ignite Impact Investment Fund, and group strategy Manager. Sam started his career as a consultant at Arthur D. Little’s London office, advising clients on business strategy, innovation, and operations.
Sam holds a DPhil in Engineering Science from the University of Oxford and a B.Sc. (Hons) in Mechanical Engineering from Queens University, Canada.
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Patricia Ter Heun Partner, Marketing and Investor Relations
Patricia’s primary responsibility for True Green Capital Management LLC (TGC) is to market and provide investor relations to institutional investors in support of TGC’s ongoing fundraising activities. She has over twenty-five years’ experience marketing investments to public and corporate pension plans and foundations and endowments, as well as to financial institutions, corporations, and private investors.
In 1998 she founded Strategic Marketing Solutions (SMS), a full-service broker dealer specialising in private equity and private real assets fundraising with a focus in the energy sector. There she represented TGC from 2014 through 2017, prior to joining TGC as a Partner. While at SMS she raised over $2.8 billion in capital for private equity and energy infrastructure funds. From 1995 to 1998 she was Director of Marketing and Investor Relations for Energy Investors Funds (EIF) assisting EIF in designing and implementing their fundraising and marketing strategy. From 1991 to 1995 she was Vice President of Marketing for CMA Capital Management, a boutique investment bank specializing in asset-based structured financings for utilities and independent power companies. Before that she was Manager of Special Products for Phoenix Leasing, responsible for marketing venture leasing financial transactions on a direct basis.
She has an Associate of Arts Degree from Columbus College in Seville, Spain (accredited through the American University). Patricia is fluent in Spanish.
