Recurrent Energy Expands Executive Leadership Team

SAN FRANCISCO--(BUSINESS WIRE)--Recurrent Energy, a distributed power company and a leading provider of solar energy, today announced the expansion of its executive leadership team. Sheldon Kimber, formerly vice president of finance, was selected as vice president of development based on his decade of experience in energy finance, project origination and development. Benjamin Cook joins the company as vice president of finance, filling the vacancy left by Mr. Kimber’s transition. Mr. Cook brings with him nearly fifteen years experience with corporate and project finance, as well as executive management in the renewable and traditional power industries. In addition, the company formally announced the addition of Karl Knight, who joined in September 2008 as the company’s managing director of international development. Mr. Knight is spearheading Recurrent Energy’s growing distributed solar project pipeline in Europe and emerging markets worldwide.

“Meeting rising global demand for renewable power requires exactly the leadership and ability to execute that Ben, Sheldon and Karl have consistently demonstrated,” said Arno Harris, CEO, Recurrent Energy. “As we expand our efforts in the US, Canada, Europe, and emerging solar markets, a determining factor in our success will continue to be the strength and capabilities of the management team.”

In his new role, Mr. Kimber leads all North American project development and origination activities. Formerly the vice president of finance at Recurrent Energy, Mr. Kimber has been instrumental in developing and negotiating the company’s existing projects and joint venture agreements throughout his tenure with the company. The appointment to vice president of development formalizes these responsibilities and focuses him on the company’s North American expansion. Prior to Recurrent Energy, Mr. Kimber spent five years at Calpine, working on gas-fired power projects and power purchase agreements with several large energy customers. Previously, he worked as an investment banker for industrial and natural resource companies at Goldman Sachs, and in Accenture’s strategy consulting practice, specializing in power price forecasting and asset valuation projects for utility clients.

As vice president of finance, Mr. Cook leads Recurrent Energy’s corporate and project financing, including managing strategic procurement relationships. He was most recently the director of structured finance & business development at SunPower Corporation Systems, where he helped to develop and finance large-scale and distributed solar photovoltaic projects across North America, Europe, and Asia. Previously, Ben was CEO of the Solar Electric Light Company (SELCO), which sells, services and finances solar electricity systems in emerging markets. Prior to SELCO, Mr. Cook financed energy infrastructure for Bechtel Enterprises, the project finance and development arm of Bechtel, and for Credit Suisse First Boston’s Energy investment banking group.

Mr. Knight brings nearly 20 years of global financing, M&A, and strategic partnership advisory experience to his role as Recurrent Energy’s managing director of international development. Prior to joining the company last year, he was managing director of finance and development for Regenesis Power, a commercial solar services company. In addition, Karl has held several senior roles in technology investment banking at GCA Savvian, Credit Suisse First Boston and Donaldson, Lufkin & Jenrette.