PROVO, Utah, Oct. 23, 2013 /PRNewswire/ -- Vivint Solar, a leading full-service residential solar energy provider, today announced that renewable energy investment veteran Thomas Plagemann has joined its leadership team as executive vice president, Head of Capital Markets. Plagemann joins Vivint Solar from Santander Global Banking & Markets, where he was managing director, Head of Energy, U.S Corporate and Investment Banking. Plagemann will be responsible for developing Vivint Solar's tax equity and capital markets fundraising efforts and leading the financing strategy beyond its existing third party financing structures.
"We welcome Thomas to our team and are confident in his energy market expertise to expand our financing strategies which are critical to our growth," said Greg Butterfield, CEO of Vivint Solar, to whom Plagemann will report. "We are optimistic that his industry knowledge will bring even more success to Vivint Solar."
During his 20 years of experience, Plagemann has originated and executed financings and investments in energy and infrastructure assets globally totaling $20 billion in projects with total capital costs in excess of $29 billion. He has completed transactions across the balance sheet from debt to equity, and he has experience with all varieties of renewable energy technologies, as well as conventional energy projects, bio fuels projects and regulated utility transactions.
"I am thrilled to lead the financing strategy in this promising, high growth segment of the renewable sector for an organization with an impressive track record of success," said Thomas Plagemann, executive vice president, Head of Capital Markets of Vivint Solar. "It will be exciting to be part of the transformation and scaling of residential solar from a strictly homeowner-owned model to a developer-ownership model."
Plagemann started his career at Deutche Bank and since then has held management roles at GE Capital, AIG and First Solar. He received a Masters degree in International Affairs, with a specialization in finance, from Columbia University and a Bachelor of Arts degree from the University of Minnesota.
Vivint Solar is the second largest U.S. residential solar installer, according to the U.S. PV Leaderboard published by GTM Research. Through a power purchase agreement (PPA), a homeowner can buy the power generated by a solar photovoltaic system at a lower rate than they could get from a local utility provider. Vivint Solar designs, installs, monitors, and services the system with no additional out-of-pocket costs to the homeowner.
Vivint Solar currently operates in California, Hawaii, Maryland, Massachusetts, New Jersey, New York, and Washington D.C.
About Vivint Solar
Vivint Solar is a leading provider of simple, affordable solar solutions. As an early adopter of the power purchase agreement (PPA) model, Vivint Solar designs, installs, monitors and maintains cost-effective solar energy systems. The company provides award-winning customer service and support while saving customers money and protecting the environment. For more information, visit www.vivintsolar.com.
Vivint is a leading provider of home technology services in North America. Vivint's technology-based platform integrates a wide range of wireless features and components that deliver simple, affordable home security, energy management, home automation, and solar solutions. In 2011, Vivint's Home Automation package and Advanced Security package received a Consumers Digest "Best Buy" rating. Dedicated to protecting families, increasing energy efficiency, and simplifying lives, Vivint has more than 13 years of experience and supports over 800,000 customers throughout the United States and Canada. For more information, visit the company's website at www.vivint.com.
Director of Public Relations
SOURCE Vivint Solar