Noesis Energy Taps Former US Department of Energy Finance Expert to Head Up Newly Formed Project Finance Group Michael Park brings valuable energy finance experience in both the public and private sectors. He will spearhead Noesis Energy's expanding role as a provider of financial products to underwrite projects that boost the energy efficiency of commercial and industrial buildings.
AUSTIN, Texas, May 29, 2014 /PRNewswire-iReach/ -- Noesis Energy, the industry-leading financing and savings platform for energy efficiency projects, has appointed Michael Park to vice president of project finance. Mr. Park heads up a new group that enables Noesis to provide expert assistance for energy project developers as they prescribe efficiency-financing solutions to their customers. The appointment is an integral element of a wider strategy that has expanded Noesis Energy's role in providing financing for retrofits and other energy efficiency improvements in the commercial and industrial sector.
Mr. Park brings deep experience in a broad array of financing products in both the public and private sectors. He comes to Noesis from the United States Department of Energy, where he was a senior investment officer in the loan guarantee programs office. There, he formulated deal terms in the underwriting and due diligence process for investment in high-profile innovative renewable energy projects, totaling over $2 billion in loan requests. He managed teams that encompassed internal technical/engineering, legal, environmental compliance, and credit; as well as external legal counsel, independent engineers, market consultants, and financial advisors.
Before that, he was assistant vice president at National Cooperative Bank (NCB), where he co-led the structured finance group that specialized in renewable energy, tax credit and non-profit finance. Prior to that, he provided oversight of NCB's commercial real-estate underwriting department.
Scott Harmon, CEO of Noesis, sees Mr. Park playing a crucial role in supporting energy project developers as they develop energy efficiency proposals. "Many of the developers who use the Noesis platform to analyze and verify energy savings have limited experience presenting financing solutions to the ultimate decision maker: the CFO. Michael brings the CFO perspective and can provide essential support to ensure energy project developers have access to the most suitable financing products at the best terms," said Harmon.
"Noesis is the perfect platform for changing the game in the energy-efficiency landscape," said Michael Park. "Noesis is able to streamline and accelerate energy project evaluation and underwriting, a process that has traditionally taken up to six months to complete."
Last year, Noesis added efficiency financing to the list of professional services it offers energy project consultants. In March, Noesis launched the industry's first performance-based investment vehicle to finance mid-market energy efficiency upgrades and retrofits in the commercial and industrial sector — the Noesis Shared Savings Agreement.
ABOUT NOESIS ENERGY
Noesis Energy helps efficiency professionals get more projects approved and implemented by providing turnkey financing services and SaaS-based software tools to accelerate and streamline their efficiency project analysis and proposals. Noesis Energy is backed by Black Coral Capital and Austin Ventures, and maintains offices in Austin, Texas and Cambridge, Ontario, Canada. For more information, visit www.noesisenergy.com and follow @noesisenergy. Learn how the Noesis Energy platform works here. Use our site to find incentives at incentives.noesisenergy.com.
Media Contact: Tim Cox, Noesis Energy, 650-369-7784, email@example.com
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SOURCE Noesis Energy