ImpactAlpha, October 6 — Bluestar Energy is a new renewable energy investment firm launched by Declan Flanigan, the former head of Danish power company Orsted’s onshore wind business. The Chicago-based firm will provide early-stage development finance and operating capital for wind, solar and energy storage projects in Europe.
Bluestar plans to launch subsidiaries to invest in projects in North America (Nova Clean Energy) and Australia (Bluestar Energy Australia).
S2G Ventures and Great Bay Renewables backed the firm. S2G’s Aaron Rudberg and Great Bay’s Frank Getman will join Bluestar’s board of directors. S2G’s Aaron Rudberg and Great Bay’s Frank Getman will join Bluestar’s board of directors.
Green experience
Flanigan will lead Bluestar as CEO. He previously headed wind and solar developer Lincoln Clean Energy, which sold to Orsted in 2018. At the time, Orstead was in the midst of a major strategic shift away from fossil fuels-based energy. The company now uses 100% renewable energy, and by 2025, its suppliers will too.
Follow the talent
Joe Condo, ex-of Ørsted, joined Bluestar’s Nova Clean Energy as head of development… Cortney Zaret, also ex-of Ørsted, joined as Bluestar’s head of accounting and administration… Dylan Reeves, of-of General Electric Renewable Energy, joined as head of project delivery… And finally, Bluestar appointed Dennis Meany, the former president of Lincoln Clean Energy, a company Ørsted acquired in 2018, as president and a board member. Bluestar is looking for a senior director of business development in Dublin and a director of business development in Chicago.
