ENERGYRE NAMES PEDRO A. PEREIRA AS CHIEF FINANCIAL OFFICER AND CHIEF BUSINESS DEVELOPMENT OFFICER

energyRe announces additional expansion of leadership team with additions of Paul Cummings and Jason Jones as Senior Vice Presidents

New hires will be key players to advance national mission to develop and invest in renewable energy assets that bring clean energy solutions directly to American cities and communities

NEW YORK, March 21, 2022 /PRNewswire/ -- energyRe, a mission-driven developer of large-scale, 100% renewable clean energy solutions, today announced that Pedro Almeida Pereira has been named as Chief Financial Officer and Chief Business Development Officer of energyRe. Before joining energyRe, Mr. Pereira was the Global Head of Business Development and a member of the Investment Committee at EDP Renewables. Mr. Pereira joins energyRe to advance the company's mission to make reliable, clean energy available to all Americans by developing large-scale generation, transmission and innovative renewable solutions that will bring green energy directly to U.S. cities and communities. Mr. Pereira will direct energyRe's investments across the different business platforms, define the strategy to finance the Company's growth, oversee the strategy & planning, accounting and treasury functions, and advance the management and expansion of the Company's portfolio of assets to meet the growing demand for renewable energy solutions.

"As the United States sets ambitious and vital sustainability goals, the need for reliable renewable energy could not be more urgent," said Jeff Blau, Chairman and Founding Partner of energyRe. "These new additions to our senior leadership team demonstrate that energyRe has the expertise and experience to meet that demand head-on. Building on the success of the Clean Path NY and New York Bight offshore wind projects, we will expand into new markets and drive our mission to deliver clean energy to cities across America."

"We are thrilled to welcome Pedro to the energyRe management team. He is a proven industry leader and brings unmatched experience in corporate development, financing growth, and establishing successful partnerships that help accelerate the global energy transition," said Miguel Prado, CEO of energyRe. "Adding Paul and Jason to our senior leadership is a reflection of the incredible momentum we're building at energyRe, including securing one of the largest leases in the recent New York Bight offshore wind auction. We are ready to lead the transition to a renewable future by tackling and solving complex challenges through innovative solutions in generation, transmission and mobility."

"energyRe's dynamic trajectory is proof-positive that there is a different way of tackling the energy transition, one of the most pressing and consequential global topics," said Pedro Pereira, CFO and CBDO of energyRe. "I am proud to join this seasoned team of industry executives and the founding partners from The Related Companies. Together, we will develop innovative renewable assets and clean energy solutions that cross industry boundaries, spur job creation, and catalyze economic development across the country."

As Global Head of Business Development at EDP Renewables, Mr. Pereira was responsible for the vision and strategy definition for new markets – with the implementation of the company's international growth platform – all international M&A activities, and global or regional partnerships. During his tenure, this new business development organization allowed EDPR to double the worldwide footprint (from 13 to 26 countries), establish a new growth platform for Asia following the successful acquisition of a S$1.1 billion pan-Asian utility-scale and distributed-generation solar company and accelerate from 60 megawatts contracted (and 3 dedicated team members) to 600+ megawatts operational or under construction, 350+ people and 10 gigawatts of secured pipeline. Mr. Pereira also served as the Director of Finance at EDP Renewables North America, having originated and executed $4.0 billion of tax equity investments and project financings in the US, Canada and Mexico, while overseeing portfolio management, comprising $6.5 billion of cash equity and tax equity direct investments from 20+ institutional investors and treasury for all North American operations.

energyRe also announced the appointments of Paul Cummings as Senior Vice President of Development and Jason Jones as Senior Vice President—Technical. Prior to joining energyRe, Mr. Cummings served as the Director of Development & Regenerative Agriculture for Geenex where he managed several utility scale solar projects in Indiana and led the company's initiatives in regenerative agriculture.  He has worked in the renewable energy field since 2006, including at EDP Renewables, Cooperative Solar, Hoosier Energy, the Indiana Office of Energy, and the Indiana State Department of Agriculture. Mr.  Jones previously served as the Engineering Director of Engie, where he led multi-disciplined technical teams which oversaw many technical aspects for power generation construction projects and business development activities. He had also previously led the transmission and interconnection activities for Engie. Prior to Engie, Jason worked at EDP Renewables where he managed all their interconnection activities in North America. He brings almost 20 years of experience to this new role and over his career, he has participated in the design and construction of more than 10 gigawatts of renewable energy projects. He is an active member of the National Society of Black Engineers, the Institute of Electrical and Electronics Engineers, the Project Management Institute, and the American Enterprise Institute. In his role at energyRe, he will be leading the engineering, estimation, and transmission interconnection teams. 

CLEAN PATH NEW YORK
energyRe is the developer of Clean Path New York, which will fundamentally change the way New York City is powered and help achieve New York State's nation-leading clean energy goals. This $11 billion clean energy infrastructure project will deliver renewable energy generated entirely in Upstate New York directly to New York City embodying energyRe's mission to ensure everyone has access to the clean energy they need.

Clean Path New York was selected by New York State to deliver almost 7.9 million megawatt-hours of emissions-free energy annually downstate and into New York City. Generating over 3,800 megawatts of new solar and wind power in New York State, the project will reduce fossil fuel generation by 22% statewide every year. Developed with environmental justice at its core, Clean Path New York will significantly reduce criteria air pollutants emitted from electric generation sources and avoid significant social and public health costs, with a significant share of these benefits accruing to frontline communities statewide. Clean Path New York will develop a $270 million investment fund to support workforce development and education programs, health services and efficiency and electrification retrofits.

OFFSHORE WIND
energyRe is a proud project sponsor for the development of an 83,976-acre area of seabed in the New York Bight for offshore wind generation – the only American-led project to secure a lease in the U.S. Bureau of Ocean Energy Management's historic federal offshore wind lease auction. The team brings together decades of expertise in development, engineering, and construction to deliver reliable, renewable energy directly to American cities.

SOURCE energyRe