“Being an entrepreneur was always the dream, but working in the capital-intensive side of the energy sector made that path hard to find. Entrepreneurship Through Acquisition gives me that ownership route — and it’s exactly what sits at the core of WAD Capital’s business model.”
Álvaro Novoa
About Álvaro
Álvaro brings over 12 years of energy and infrastructure investment experience — including four years as a Private Equity Associate on the M&A and Financing team at Fisterra Energy, Blackstone's energy transition platform, and three years as a Senior Consultant in KPMG's Global Strategy Group — to large-scale transactions ranging from €100m to over €1bn, spanning transaction structuring, financial modelling, due diligence, financing, and contractual negotiations across global markets. He began his career at Abengoa, then one of Spain's flagship infrastructure and energy multinationals, first as an Electrical Engineer before moving into an Energy Investment Analyst role, where he helped coordinate cross-functional teams to deliver over €1.8bn in competitive IPP bids across Kuwait, Latin America, and the UK. Between KPMG and Fisterra Energy, he completed a full-time MBA at IESE Business School, where he served as Vice President of Development for both the Energy Club and the PE&VC Club. Álvaro holds an MEng in Electrical and Electronic Engineering from the University of Manchester, graduating with first-class honours.
Expertise
Proven track record in investment analysis, strategy consulting, and private equity investing within the energy sector, spanning corporate, advisory, and institutional environments. Core expertise includes M&A execution, financing structuring, project finance modelling for renewable, thermal, and sustainable businesses, commercial and financial due diligence, power purchase agreement advisory, market entry strategy, and econometric price forecasting for power and gas markets. His toolkit also spans preparing Investment Committee memoranda for decision boards, leading cross-functional deal teams across engineering, legal, tax, and financing workstreams, and originating and negotiating transactions across Europe, Latin America, and the Middle East.
Together, this technical, financial, and operational grounding has culminated in his current role as CxO at WAD Capital, where he supports M&A and operations across the fund's portfolio companies. In parallel, he is now preparing to launch his own search to acquire and scale a company in the electricity sector, capture the energy transition tailwinds, and transform it into a market leader through a carefully designed value-creation strategy.