First Wind, an independent North American wind power company, announced that it has named two people to its senior management team. These additions, one promoted from within the company and another a strategic new hire, will collectively enhance First Wind’s ability to secure financing for its expanding wind projects in development and optimize the commercial value of the company’s installed operating base.
Steve Schauer, who has served as First Wind’s Vice President, Finance since joining the company in November 2008, was promoted to Senior Vice President, Finance and Treasurer. In this new position, he will be responsible for all project finance, tax equity, corporate debt capital, and treasury operations.
Steven Chwiecko joins the company as Senior Vice President, Commercial Asset Management. Mr. Chwiecko has more than 25 years of experience in the unregulated power generation area focusing on asset management and acquisitions, most recently for Atlantic Power Corporation. In this newly created role at First Wind, Mr. Chwiecko will oversee the company’s leases, power sales agreements, REC sales contracts, and interconnection agreements for current operating wind projects.
“I’m pleased to announce these additions to our senior management team, which are critical to ensuring the continued growth and success of First Wind,” said Paul Gaynor, CEO of First Wind. “During his time with First Wind, Steve Schauer has contributed to our success through his leadership on the successful financing for our Milford Wind project. We are looking to Steve to continue to lead these efforts in his new role. Steven Chwiecko joins our team at a critical juncture. As our operational assets continue to grow, so does our need to ensure that we are achieving optimal return for those major investments.”
Steven Schauer
Mr. Schauer has over 18 years of experience in the energy and power financing sector. Since joining First Wind in November 2008, Mr. Schauer led the development and execution of a $376 million construction financing for the 203.5 Megawatt (MW) Milford Wind Corridor project in Milford, UT, which is slated for commercial operations in late 2009. Prior to joining First Wind, Mr. Schauer was the Executive Director of Solar Development for FPL Energy (now NextEra Energy Resources). During his time with FPL Energy, Mr. Schauer also served as Assistant Treasurer where his team raised over $3.4 billion in financing for 31 wind and solar energy projects. Prior to joining FPL, Mr. Schauer worked for BTM Capital and Bank of America (NYSE: BAC).
Mr. Schauer holds both a Master of Business Administration degree from Boston College and a Bachelor of Arts degree from Willamette University in Salem, OR.
Steven Chwiecko
Prior to joining First Wind, Mr. Chwiecko was responsible for Asset Management and Acquisitions for a portfolio of 16 power/transmission projects for Atlantic Power Corp., one the largest Canadian Power Income Funds. Prior to that, he served at El Paso Merchant Energy where he originated the acquisitions of electric generating “qualifying” facilities and executed restructuring of facility-related power purchase agreements. Mr. Chwiecko also served for 12 years as CFO at Adirondack Hydro Development Corporation.
Mr. Chwiecko holds a Bachelor of Science degree in Geology from St. Lawrence University and a Master of Business Administration degree from the Rochester Institute of Technology.
About First Wind
First Wind is an independent North American wind energy company focused exclusively on the development, ownership and operation of wind energy projects. First Wind is headquartered in Newton, Massachusetts. For more information on First Wind, please visit www.firstwind.com or follow us on Twitter @FirstWind.
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For more information, contact:
John Lamontagne
First Wind
Director, Communications
617-964-3340
jlamontagne@firstwind.com
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