The Board of Directors of renewable energy provider sPower (Sustainable Power Group) has announced the appointment of Jigar Shah to its Board of Directors.
Shah is an expert on energy project finance and changing energy policy. He works closely with a number of the world’s leading influencers and guides policymakers around the globe on key issues regarding renewable energy, climate change, and sustainability.
In 2003, Shah founded SunEdison, the world’s largest solar services company. Under Shah’s leadership, SunEdison transformed the renewable energy sector by creating the power purchase agreement (PPA) business model, which eliminated upfront capital costs associated with renewables deployment. Needless to say, that has been huge in increasing solar adoption.
“Mr. Shah is a visionary. His track record of revolutionizing sustainable energy, coupled with Fir Tree Partners’ commitment to strategic and meaningful advancements in the renewables sector, will have a profound impact on maintaining sPower’s trajectory of growth and success,” said sPower CEO, Ryan Creamer. “We appreciate his willingness to serve as a Director and look forward to benefitting from his extraordinary industry expertise.”
“sPower is an aggressive market frontrunner with a unique combination of leadership, ability and resources. sPower is incredibly well positioned to transform the marketplace through accelerated renewable deployment and lowered capital costs, while making a real difference in reducing global emissions. I’m honored and excited to be a part of such a dynamic opportunity and to work with this exceptional company,” said Shah.
Shah holds an MBA from the University of Maryland and is a graduate from the University of Illinois. In addition to founding SunEdison, Shah is the author of Creating Climate Wealth: Unlocking the Impact Economy and the first CEO of the Carbon War Room, the global organization founded by Sir Richard Branson and Virgin United to help entrepreneurs address climate change. He is also on the board of the New York State Energy Research and Development Authority, to which he was nominated by Governor Andrew M. Cuomo and approved by the New York State Senate.
sPower, a portfolio company of global investment fund Fir Tree Partners, is a vertically integrated owner and operator of utility and distributed electrical generation systems across the U.S.