Mossadiq Umedaly, chairman of Canadian utility BC Hydro, will join the Vancouver, Canada-based venture firm Ventures West to help the company raise and invest its first clean energy fund…
Umedaly, who was named Entrepreneur of the Year at the event this week, will keep his position at BC Hydro and said he plans to remain fully committed to his duties there. Umedaly previously served as CEO of Xantrex Technology, which makes electrical inverters and chargers, and chief financial officer of fuel cell company Ballard Power Systems. He also helped to develop a medical university and teaching hospital in Pakistan as part of his work with Aga Khan Development Network, a nonprofit, and started his career at accounting firm Price Waterhouse
In spite of the recession, Umedaly said he’s “never seen a better time” to invest in cleantech. Public awareness of environmental and energy security issues, as well as the political will to support clean energy solutions, is at an all-time high, he said. “My feeling is when you have a confluence like this, you need to take action,” he said.