Soltage is Bright Spot in Today's Economy, as it Adds George P. Schaefer as its New CFO
Published In: Business, New Jersey 
Tuesday, April 7, 2009 8:00 AM
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JERSEY CITY, N.J., April 7 /PRNewswire/ -- While some businesses are struggling, Soltage, LLC is seeing exciting growth. Soltage is a full service renewable energy company that develops, owns and operates Soltage Powerstations (solar photovoltaic electric generating facilities) at client sites across the U.S. Soltage is pleased to announce that George P. Schaefer, with over 30 years experience in the energy and finance industry, will be joining Soltage as its CFO.

Co-founder and CEO of Soltage, Jesse Grossman, explains, "We are very excited to have George become our new CFO, as he brings a broad level of expertise in structuring financial arrangements in the energy field, which is key to Soltage's growth. He closed over $15 billion in debt and equity issuances when he was V.P. and Treasurer of NRG Energy. He led negotiations for a $3 billion power plant in China when he was the V.P. of Entergy Power Group. Earlier in his career, he led GE's European Structured Finance group headquartered in London, England, and led the financing of more than 25 independent power transactions in the U.S., all when he was Senior V.P. of GE Capital."

Vanessa E-H Stewart, co-founder and COO, adds "securing complex financial arrangements is a critical component to developing Soltage Powerstations, which provides clients with significant savings on their electric bill and stabilizes their electric rates for 20 years without any up front costs to them. Bringing George on board -- especially after securing the financial backing from Tenaska Solar, a subsidiary of Tenaska Energy, one of the largest independent power producers in the U.S. -- is important to our business' growth."

George Shaefer commented, "Soltage is a vibrant, growth-oriented renewable energy company that dovetails well with my most recent experience as CFO of two venture capital backed start-up companies: Mascoma Corporation of Boston and ASAlliances Biofuels, LLC of Dallas. I'm excited to help accelerate Soltage's growth beyond the east coast to further demonstrate its national presence."

About Soltage, LLC

Soltage, LLC is a full service renewable energy company developing, financing, and operating solar energy stations on client structures across the USA, supplying clients a significant portion of their long-term energy demand at a cost below retail rates. www.soltage.com.


SOURCE Soltage, LLC


 
Tuesday, April 7, 2009 8:00 AM

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