Sustainable Development Capital LLP (SDCL) has launched a new renewables division and hired two executives from Santander to run it.

Alejandro Ciruelos and Javier Jimenez, from Santander’s corporate and investment banking arm, will focus on developing “innovative financing and investment solutions” for utility-scale renewables projects, developers and investors.

Ciruelos has been appointed as the managing director of SDCL’s renewables division and was managing director and member of the executive leadership team of Santander Corporate & Investment Banking in London.

He has led advisory and investment mandates for Santander including, most recently, the £2.5bn debt financing for the Moray East offshore wind farm owned by EDPR, Mitsubishi Corporation and Engie.

Jimenez has 14 years of experience in the infrastructure sector and was previously a managing director at Santander heading up renewable energy, senior origination and execution.

Private equity outfit Volery also became a minority shareholder in SDCL.

SDCL CEO Jonathan Maxwell (pictured) said: “We are very excited to have created our renewables division lead by leading industry practitioners as experienced and highly regarded as Alejandro and Javier.

“Their deep expertise in the renewables sector adds to SDCL’s established platform as we looks to capitalise on the increasing number of high quality opportunities in energy efficiency, renewables, and offshore wind.

“Similarly, our partnership with Volery will help us accelerate our growth plans and increase the development of clean and efficient energy solutions, which are critical to the reduction of greenhouse gas emissions.”