Apollo to acquire stake in renewable energy developer US Wind for $265 million

Economictimes | August 15, 2020

Apollo Global Management Inc said on Friday that it agreed to invest $265 million in offshore wind developer US Wind Inc, marking the private equity firm's first foray into one of the hottest areas of renewable energy development in the country. Apollo said its investment, which includes both debt and equity, will fund the construction of an offshore wind project off the coast of Maryland. Wind power is the largest source of renewable energy in the United States, generating about 7.3 per cent of the nation's electricity supply, according to the US Energy Information Administration.

Spotlight

T he Energy Atlas tells the story of Europe’s energy transition. It is a story of a past where Europe was supplied largely by a small number of big energy companies, and of a future, which lies increasingly in the hands of cities and municipalities, and millions of ordinary energy citizens across Europe. The energy transition is already well underway. However, it is happening at different speeds across the continent. For the past 100 years, geopolitical strength has depended on access to fossil fuel resources.


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ECONOMY

Clean Energy Holdings, ING Americas, and Equix Kick-off 250 MW Green Hydrogen Alliance Project in Texas

ING Americas | May 21, 2022

ING Americas (ING) has been engaged by Clean Energy Holdings, LLC (CEH) as its financial advisor in respect of the financing of projects by the Renewable Energy and Technology Alliance (The Alliance) being assembled by CEH. ING brings multiple areas of expertise to CEH's Platform and projects including advisory services and leading the capital raising requirements for the project. Equix Inc., a well-established and highly respected infrastructure firm, is also joining The Alliance bringing industry leading execution experience including Engineering, Procurement, and Construction (EPC) in both renewable energy and hydrogen facilities. Bair Energy, LLC (BE) joins The Alliance as the Program Management Construction Management (PMCM) and serves as The Alliance Representative for the CEH Platform. The Alliance is working with an experienced commodities group to market and lead offtake negotiations for its projects. Clean Energy Holdings, ING Americas, and Equix Kick-off 250 MW Green Hydrogen Alliance Project in Texas ING will take the lead in securing project financing for CEH's 250 MW Clear Fork, TX renewable energy supplied green hydrogen and liquefaction project. As one of the largest and leading green hydrogen developments in North America, the project has a baseline schedule slated to enter commercial operations in the third quarter of 2024. The project is expected to produce a levelized average of 30,000 kg a day of liquefied green hydrogen. The CEH Platform is designed to attract leading edge and emerging technologies to integrate into our projects for validation and certification. "Our Alliance is leading energy transformation, and we are committed to continue to lead the North American market in the production and implementation of green hydrogen for industrial, chemical, and mobility applications. We are also driving technological advancements developed through our projects. We have assembled a group of industry leaders as well as local and state governments to navigate through the potential challenges as we deliver our projects from concept to delivery and provide turnkey projects with a complete basis for design. Our Alliance delivers on contract and safety, with guaranties. This project is a strategic priority for The Alliance to showcase its turnkey design, long term operations and production guaranties." -CEO of Clean Energy Holdings, Nicholas Bair "These early, large-scale, projects will help define the green hydrogen industry in North America. Our Alliance partners and advisors have been carefully selected as both best-in-class for their respective roles and dedication to make these projects a success." -CEH President, Cornelius Fitzgerald ABOUT CLEAN ENERGY HOLDINGS Clean Energy Holdings (CEH) is a renewable energy and technology platform focused on developing, owning, and operating leading edge, innovative and reliable renewable energy and low carbon facilities. CEH is a technology centric platform and, with our Alliance Partners, provides turnkey solutions for innovative projects like Clear Fork Green Hydrogen, the second Green Hydrogen project brought forward by CEH. Further, the CEH projects have been carefully selected to lead various State and Regional initiatives aimed to bring cost effective Green Hydrogen fuel to transportation corridors as well as industrial clients. ABOUT BAIR ENERGY BE is a Program Management and Construction Management (PMCM) firm with a focus on renewable energy projects in both domestic and select international markets. In its PMCM role, Bair Energy manages and coordinates platform concepts with viable projects to take advantage of benefits, like efficiencies of scale, not available to the projects individually. In addition, Bair Energy oversees construction of individual projects. In all roles, Bair Energy has embraced a philosophy for Health, Safety, and Environmental Excellence. ABOUT ING Americas ING Americas offers a full array of wholesale financial products, such as commercial lending, financial markets, corporate finance and advisory products and services in the U.S. to its corporate and institutional clients. We know being sustainable is not just about reducing our own impact, it's also in the choices we make—as a lender, in our financing, and through the services, we offer our customers. That's why sustainability is inherent to our purpose of empowering people to stay a step ahead in life and in business. ING Americas is the brand name of ING's corporate and institutional client business in the Americas region, operating in the U.S. through ING Financial Holdings Corporation and its subsidiaries ("IFH"). IFH is a subsidiary of ING Bank N.V., and a part of ING Group N.V. ("ING"). ABOUT EQUIX INC. Equix, Inc. is a private contracting firm that develops people and companies in the technical, professional, and construction services industries across North America. Focusing on utility and infrastructure projects offering full-service surveying, design, construction, and maintenance services to the renewable energy, broadband, electric, heavy civil, pipeline, water, and wastewater markets. Equix employs over 1,250 team members across 27 corporate offices in 13 states. They are licensed to do business in over 30 states across all service offerings.

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SOLAR+STORAGE

Communications Systems to Enhance Finance and Solar Expertise of Board of Directors Following Merger with Pineapple Energy

Communications Systems | February 16, 2022

Communications Systems, Inc. highlighted steps to enhance the composition of its board of directors following the closing of the proposed merger with Pineapple Energy LLC. Following the completion of the proposed merger with Pineapple, CSI will be renamed “Pineapple Holdings, Inc.” will trade under the new Nasdaq ticker symbol “PEGY,” and will be focused on the growing home solar industry, primarily operating through its Hawaii Energy Connection and E-Gear subsidiary businesses. The CSI post-merger board of directors will be comprised of seven members, four of whom will be independent directors. To enhance the post-merger board, Pineapple and CSI have agreed on the addition of Marilyn Adler and Tom Holland to the board concurrently with the closing of the merger. Roger Lacey, CSI’s Executive Chair and Interim CEO stated, “Ms. Adler and Mr. Holland bring more than 60 years of combined experience in finance and the residential solar industry. We are excited to be adding their talents to the post-closing board and we look forward to leveraging their deep business, management and industry experience. The identification of Ms. Adler and Mr. Holland for the post-closing board is just one of the steps CSI and Pineapple have taken to position the post-closing company for success. The post-closing board and management team will implement Pineapple’s strategy to capitalize on the growing demand for consumer energy solutions by providing homeowners with an end-to-end portfolio of product offerings spanning energy secure solar, battery storage, electric vehicle connections, and managed grid services via organic growth and strategic acquisitions.” As we prepare to ‘hit the ground running’ after the proposed merger closes, the highly experienced management team and diverse board of directors post-closing will help us pursue our objective of transforming Pineapple Holdings into one of the largest rooftop solar and storage companies in the U.S.” Kyle Udseth, Co-Founder and CEO of Pineapple A special meeting of CSI shareholders has been scheduled for Wednesday, March 16, 2022, at 10:00 a.m. Central Time to vote on the proposed Pineapple merger transaction, among other things. Beginning on February 4, 2022, the notice of the special meeting and a proxy statement/prospectus was sent to CSI shareholders as of the January 27, 2022 record date. Post-Closing Board of CSI (Pineapple Holdings) Kyle Udseth, Co-Founder and Chief Executive Officer of Pineapple, who previously served in multiple executive roles at leading national residential solar companies SunRun and Sunnova. Roger Lacey, Executive Chairman of the CSI board of directors, who also served as CSI’s chief executive officer or acting chief executive officer from February 2015 through November 30, 2020 and from August 2, 2021 until the present. Mr. Lacey has served as a CSI director since 2008. Previously he served in executive positions at 3M Company, a multinational industrial and consumer products company. Scott Honour, Managing Partner of Northern Pacific Group, a Wayzata, Minnesota based private equity firm, where he has served since 2012. Northern Pacific is a significant investor in Pineapple Energy. Previously, he was a Senior Managing Director of The Gores Group, a Los Angeles based private equity firm, and before that was an investment banker at UBS Warburg and Donaldson, Lufkin & Jenrette. Marilyn Adler (independent director), founder of Mizzen Capital, a private credit fund, and has been a Managing Partner there since March 2019. Prior to launching Mizzen, Ms. Adler held senior management roles with several Small Business Investment Company funds. Prior to that, she worked in the fixed income group at Teachers Insurance and Annuity Association, a Fortune 100 financial services organization, and before that was an investment banker at Donaldson, Lufkin & Jenrette. Ms. Adler earned an MBA from The Wharton School of the University of Pennsylvania in 1991 and a BS with distinction from Cornell University in 1987. Tom Holland (independent director), Chief Operating Officer of Homebound Inc., a California-based housing company. Previously, he had two stints as a partner with management consultant Bain & Company, from 2018 to 2021 and 1989 to 2013. Holland also has significant operating experience: he was the CEO of Century Snacks, LLC, a California-based food manufacturing company, and was COO and later President of SunRun Inc., an industry leading provider of residential solar panels and home batteries. Mr. Holland holds a B.S. in Civil Engineering from the University of California, Berkeley and an M.B.A. from the Stanford Graduate School of Business. Randall Sampson (independent director), CSI director since 1999 and lead independent director since December 2018. Since 1994, Mr. Sampson has been the president, chief executive officer, and a board member of Canterbury Park Holding Corporation (Nasdaq: CPHC), which owns and operates Canterbury Park Racetrack and Card Casino in Shakopee, Minnesota. Michael Zapata (independent director), director of CSI since June 2020. Mr. Zapata has led Schmitt Industries, Inc. since December 2018. Mr. Zapata is also the founder and Managing Member of Sententia Capital Management, LLC, an investment management firm. Prior to Sententia, Mr. Zapata served nearly 10 years in the U.S. Navy. About Communications Systems, Inc. Communications Systems, Inc., has operated as an IoT intelligent edge products and services company.

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ENERGY

CSA Group - NEW Training for the Construction and Infrastructure Sector

CSA Group | October 27, 2020

CSA Group has a suite of training products to help you understand and apply the standards you use every day. In either self-guided online or instructor-led virtual format, you and your colleagues can still benefit from the expertise of our instructors and the quality training developed by technical committee members. Energy Efficiency Training Online training for the National Research Council of Canada’s National Energy Code for Buildings (NECB) 2017 is now available in English and French on the CSA Store. Furthering knowledge and adoption of the NECB 2017 contributes to the improved energy efficiency of new buildings and helps reduce greenhouse gas emissions.

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SUSTAINABILITY

Brightcore Energy Appoints Lauren Hildebrand as Vice President, Client Sustainability

Brightcore Energy | January 27, 2022

Brightcore Energy, a leading provider of end-to-end clean energy solutions to the commercial and institutional market, announced the appointment of Lauren Hildebrand to the newly created role of Vice President, Client Sustainability. Brightcore Energy is extremely excited to have Lauren Hildebrand join our team. She will bring critical knowledge to our strategic clients to enable them to meet building electrification and decarbonization goals.” Mike Richter, President of Brightcore Energy In her role as Sustainability Director at Steven Winter Associates, Inc., Lauren focused on sustainable and high performance residential and commercial building design, construction, renovation, and operation. Her expertise includes sustainable design, indoor air quality & energy performance testing, and project certification for both commercial and residential programs. With more than 16 years of experience, Lauren has also had true engagement in contractor training, building materials selection, energy code compliance, and incentive programs. “I am thrilled to join the Brightcore family at such a transformative time in our push towards building electrification and decarbonization,” Lauren said. “I look forward to helping our clients find the most practical, economic and efficient turnkey solutions in order to succeed in meeting their sustainability goals.” She has worked with green building certification programs since 2008, overseeing certification and consulting services for over 15,000 homes and multifamily units. Lauren is an accredited LEED AP BD+C, LEED for Homes Green Rater and WELL Performance Testing Agent, and has overseen project certification for residential programs, such as LEED, ENERGY STAR, NYSERDA, NJ Clean Energy, and Enterprise Green Communities. Awards presented to her clients include the 2013, 2018, 2019 and 2020 USGBC LEED Project of the Year Awards, 2018 Outstanding Multi-Family Developer, 2017 LEED Power Builder, and more. She also presents at events and conferences around the Northeast, such as the NYS Green Building Conference, NESEA’s BuildingEnergy Conferences, North American Passive House Conference, and more. About Brightcore Energy Brightcore Energy accelerates the deployment of proven energy-efficiency and renewable energy technologies through its innovative Clean-Energy-as-a-Service model that requires no capital investment and provides for immediate operating cost savings, making it affordable and seamless for businesses and institutional buildings to quickly and easily transition their legacy energy platforms to significantly more efficient ones. Brightcore’s end-to-end clean energy solutions include LED lighting conversions, commercial and community solar, high-efficiency renewable heating and cooling (geothermal), electric vehicle (EV) charging and battery storage. Customers include Madison Square Garden, Citi Field, Montefiore Health System, Brookfield Properties, SL Green, LAZ Parking and numerous public and private educational institutions.

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Spotlight

T he Energy Atlas tells the story of Europe’s energy transition. It is a story of a past where Europe was supplied largely by a small number of big energy companies, and of a future, which lies increasingly in the hands of cities and municipalities, and millions of ordinary energy citizens across Europe. The energy transition is already well underway. However, it is happening at different speeds across the continent. For the past 100 years, geopolitical strength has depended on access to fossil fuel resources.

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