Executive who helped lead Duke Energy’s entre into renewables,
Walmart’s first U.S. wind PPA joins RET Capital
SAN FRANCISCO--(BUSINESS WIRE)--
Energy Trust Capital, Inc. (RET Capital) has tapped finance
executive Bill Keeney as its new vice president of business development.
Keeney, who comes to RET after seven years as vice president of Duke
Energy Renewables, will identify, develop and oversee partnership
opportunities and originate acquisitions for the innovative renewable
energy finance company.
“Bill has launched his own energy company, played an integral part in
ushering an energy giant into the renewable sector and he thinks and
executes on the gigawatt level. He’s a closer helping to lead an
unparalleled team of closers,” said John A. Bohn, chief executive
officer and chairman of RET Capital.
While at Duke Energy, Keeney managed a team responsible for analyzing,
structuring and valuing new business opportunities as well as investing
an annual capital budget north of $500MM.
“Duke grew its wind and solar business from zero to two gigawatts in
less than five years during Bill’s tenure,” said Bohn. “His business
development and corporate finance expertise are second to none and we
are more than pleased to welcome him into our ranks.”
RET Capital is an independent financing platform working with diverse
middle market renewable energy developers and other industry
stakeholders to lower the cost of capital, increase standardization and
facilitate accelerated growth. By focusing on the middle market and
working toward standardization, the firm seeks to accelerate growth in
the North American renewable marketplace.
RET Capital announced an agreement in April to acquire the 25 megawatt
(MW) AC McHenry Solar Plant in Modesto, California. The solar photovoltaic
(PV) plant provides power to the Modesto Irrigation District
under a 25-year contract. One month prior, RET announced it would
acquire the Heber Solar PV project in Imperial County, California. The
10 MW project has a 20-year power purchase agreement with the Imperial
“When it comes to deal execution and track record, I would put my new
colleagues at RET Capital up against anyone in the industry. This is
truly a world-class team,” said Keeney.
In 2003, Keeney and two partners formed Tierra Energy, a wind developer
primarily focused on projects in Texas and Wyoming. After successfully
lining up a gigawatt of projects Keeney, as the company’s chief
financial officer, led the sale of Tierra Energy to Duke—completing the
energy giant’s acquisition of its first renewable energy developer.
Keeney also helped close retail giant Walmart’s first U.S. wind energy
power purchase agreement.
Before launching Tierra Energy, Keeney originated, evaluated and closed
acquisitions for energy company Aquila and managed the acquisition of
power generation assets for Enron.
About RET Capital
RET Capital is an independent finance platform established to lower
the cost of capital for qualified developers and other industry
stakeholders by providing reliable takeout financing Focusing on the
middle market and working toward standardization, RET Capital will help
facilitate accelerated growth in the North American renewable
marketplace. RET Capital works closely with selected Asset Partners to
establish long-term relationships with developers, EPC firms and
utilities to provide growth velocity, predictability and improved
margins. RET Capital will work with its Asset Partners to tailor a
suitable acquisition strategy and provide predictable “take-out”
financing for development liquidity. The RET Capital team endeavors to
meet its Asset Partners' objectives through innovative ways to structure
and design portfolio acquisition and joint ownership opportunities. www.renewabletrust.com
for Renewable Energy Trust Capital, Inc.
Roxanna Smith, 510-326-0390
Source: Renewable Energy Trust Capital, Inc.