VPI, the rapidly expanding UK power company, has appointed its first chief executive.
Jorge Pikunic, who has previously held senior leadership roles with Centrica, joins from growth and sustainability company Xynteo, where he was CEO. He will be responsible for developing and implementing VPI’s strategy in the context of the UK and Europe’s net-zero ambitions, with £2 billion pledged to support the energy transition over the next five years.
The company, owned by the Dutch energy and commodity trading business Vitol, is already a cornerstone partner of Humber Zero, a major decarbonisation project involving hydrogen and carbon capture and storage in the Humber region. It launched on the South Humber Bank almost a decade ago, having bought the Immingham combined heat and power plant that supplies the two neighbouring refineries.
Read more: Power generator Uniper nationalised by German government
Mr Pikunic said: "There has never been a more challenging time for the energy sector, or a time when it has been more critical for society. I am greatly looking forward to leading VPI through the next phase. VPI has a phenomenal team and a portfolio of flexible power generation and lower carbon energy projects from which we will build a new kind of power company for the energy transition."
Taking on the Immingham facility from what was then Conoco Phillips in 2013, the company swooped for Drax’s gas-fired assets in a £193 million deal that completed early last year, and by doing so significantly added to its fleet, taking the total generating capability to 3.3GW in the UK. Earlier this summer it partnered with an Irish generation company to build a new 275MW plant in County Westmeath.
Born in Venezuela, Mr Pikunic holds a PhD in chemical engineering from North Carolina State University and was a research fellow at Oxford University. His career has also taken him to McKinsey & Co, Procter & Gamble, and PDVSA. At Centrica, he was managing director of Centrica Business Solutions, leading the development of decentralised, flexible, and lower-carbon energy systems.
He sits on the board of trustees of the Faraday Institution, an independent institute for electrochemical energy storage research, which aims to reduce battery cost, weight and volume and develop commercialisation.
Javed Ahmed, Vitol’s head of investments, said: “We are delighted to welcome Jorge to VPI. Vitol is committed to playing an active part in the energy transition. Jorge’s leadership and wide experience in the industry will be invaluable in shaping VPI’s strategy for the future.”
Read next:
Zero emissions vessel concept for wind farm industry unveiled by long-term operator
British Chambers of Commerce Director General addresses Energy Estuary as action taken to cut bills
Settling in for the summer - 55 new appointments in the Humber region
All your Humber business news in one place - bookmark it now
