Former Petrofac chief seeks £40m for offshore wind group Venterra

The former chief executive of Petrofac, an oilfield services company that collapsed last month, is now in discussions to secure £40 million for Venterra, an offshore wind energy group he established four years ago. This move underscores a growing trend towards renewable energy solutions, particularly in the wake of the challenges faced by the fossil fuel industry. As the world increasingly prioritizes sustainability, Venterra's potential success could reflect a broader shift in investment strategies, moving away from traditional oil and gas towards cleaner energy alternatives.