Former energy minister Lord Barker has been named the chairman of En+

Courtney Goldsmith
Follow Courtney
Gregory Barker was an MP from 2001 to 2015 and served as energy secretary for four years
Gregory Barker was an MP from 2001 to 2015 and served as energy secretary for four years (Source: En+)

Russia's En+ Group has named former UK energy minister Lord Barker as its chair ahead of its initial public offering (IPO) in London.

The aluminium and hydro power producer, which is controlled by billionaire Oleg Deripaska, plans to float on the London and Moscow stock exchanges in a $1.5bn (£1.1bn) listing in November.

Barker served as Britain's energy and climate change secretary under former Primer Minister David Cameron, and his career as an MP spanned 14 years. In 2015, he became a member of the House of Lords.

Maxim Sokov, chief executive of En+, said the appointment "reinforces En+ Group’s commitment to best standards of corporate governance".

He said:

The development of green energy continues to be a fundamental component of our business and Lord Barker’s experience in promoting renewable energy will be invaluable to our efforts.

Barker presided over the expansion of clean energy from six per cent of the grid to 18 per cent during his time as energy secretary.

Barker said: "En+ Group is at the forefront of a new industrial revolution, helping lead the global drive towards a low carbon economy. A unique world class company, it combines aluminium production and hydro generation on a scale unmatched anywhere else in the world.

"This places En+ Group at the vanguard of green industrial innovation, as it transforms its huge clean energy resources to green metal and supplies it to fast-growing international markets. It is a very exciting time to be joining the company."

Read more: Russia's En+ launches IPO in London and Moscow

Related articles