CORRECTING and REPLACING sPower Announces Plans to Expand Senior Management

CFO, J.I. “Chip” Everest, promoted to President to focus on domestic and international growth initiatives

CORRECTION...by sPower

SALT LAKE CITY--()--Please replace the release with the following corrected version due to multiple revisions.

The corrected release reads:

SPOWER ANNOUNCES PLANS TO EXPAND SENIOR MANAGEMENT

CFO, J.I. “Chip” Everest, promoted to President to focus on domestic and international growth initiatives

sPower (Sustainable Power Group), a leading renewable energy provider, today announced the promotion of current CFO, J.I. “Chip” Everest, to President.

sPower’s rapid growth (following its merger with Fir Tree Partners-backed Silverado Power) includes an operating portfolio of more than 130 solar assets and greater than a gigawatt between construction and pipeline. Everest’s ability to create relationships with tax equity, financial and strategic partners led to a number of successes, including sPower’s recent crossing of the Atlantic to enter the UK renewables industry.

“To maintain sPower’s growth trajectory and to deliver against our most important initiatives, we are expanding sPower’s senior management ranks,” said Ryan Creamer, sPower CEO. “In his new role, Chip will spearhead a number of development objectives domestically and abroad.”

Everest will lead sPower’s immediate search for a replacement CFO.

About sPower: Headquartered in Salt Lake City, with offices in San Francisco and New York City, sPower is a leading independent power producer (IPP) which owns and/or operates more than 130 utility and distributed electrical generation systems across the United States. With greater than a gigawatt between construction and pipeline, sPower is actively buying renewable assets in any stage of development, as well as working to acquire operating sustainable energy projects in North America and the UK. Concurrently, sPower’s land division is seeking landowner partners (to develop green energy projects) and landowners with existing renewables assets (who can benefit from liquidating current land leases). sPower is a portfolio company of Fir Tree Partners, a leading global investment fund with more than 20 years of investing history and approximately $13 billion of capital under management.

sPower's growth (acquisition of Tioga Energy's operating assets; merger with Fir Tree Partners-backed Silverado Power; acquisition of Bosch North American operating assets; appointment of Jigar Shah to the sPower Board of Directors; and collaboration agreement with Camborne Capital to expand to the UK solar market) has secured its position as a leader in the renewable energy industry since its founding in 2012.

For more information, visit www.sPower.com.

Contacts

sPower
Naomi Keller, 801-679-3514
VP Marketing
nkeller@sPower.com

Release Summary

sPower announces promotion of current CFO, J.I. “Chip” Everest, to President

Contacts

sPower
Naomi Keller, 801-679-3514
VP Marketing
nkeller@sPower.com