SAN FRANCISCO —Renewable Energy Trust Capital, Inc. (RET Capital) has tapped finance executive Bill Keeney as its new vice president of business development.
Keeney, who comes to RET after seven years as vice president of Duke Energy Renewables, will identify, develop and oversee partnership opportunities and originate acquisitions for the innovative renewable energy finance company.
“Bill has launched his own energy company, played an integral part in ushering an energy giant into the renewable sector and he thinks and executes on the gigawatt level. He’s a closer helping to lead an unparalleled team of closers,” said John A. Bohn, chief executive officer and chairman of RET Capital.
While at Duke Energy, Keeney managed a team responsible for analyzing, structuring and valuing new business opportunities as well as investing an annual capital budget north of $500MM.
“Duke grew its wind and solar business from zero to two gigawatts in less than five years during Bill’s tenure,” said Bohn. “His business development and corporate finance expertise are second to none and we are more than pleased to welcome him into our ranks.”
RET Capital is an independent financing platform working with diverse middle market renewable energy developers and other industry stakeholders to lower the cost of capital, increase standardization and facilitate accelerated growth. By focusing on the middle market and working toward standardization, the firm seeks to accelerate growth in the North American renewable marketplace.
RET Capital announced an agreement in April to acquire the 25 megawatt (MW) AC McHenry Solar Plant in Modesto, California. The solar photovoltaic (PV) plant provides power to the Modesto Irrigation District under a 25-year contract. One month prior, RET announced it would acquire the Heber Solar PV project in Imperial County, California. The 10 MW project has a 20-year power purchase agreement with the Imperial Irrigation District.
“When it comes to deal execution and track record, I would put my new colleagues at RET Capital up against anyone in the industry. This is truly a world-class team,” said Keeney.
In 2003, Keeney and two partners formed Tierra Energy, a wind developer primarily focused on projects in Texas and Wyoming. After successfully lining up a gigawatt of projects Keeney, as the company’s chief financial officer, led the sale of Tierra Energy to Duke—completing the energy giant’s acquisition of its first renewable energy developer.
Keeney also helped close retail giant Walmart’s first U.S. wind energy power purchase agreement.
Before launching Tierra Energy, Keeney originated, evaluated and closed acquisitions for energy company Aquila and managed the acquisition of power generation assets for Enron.
About RET Capital
RET Capital is an independent finance platform established to lower the cost of capital for qualified developers and other industry stakeholders by providing reliable takeout financing Focusing on the middle market and working toward standardization, RET Capital will help facilitate accelerated growth in the North American renewable marketplace. RET Capital works closely with selected Asset Partners to establish long-term relationships with developers, EPC firms and utilities to provide growth velocity, predictability and improved margins. RET Capital will work with its Asset Partners to tailor a suitable acquisition strategy and provide predictable “take-out” financing for development liquidity. The RET Capital team endeavors to meet its Asset Partnersʼ objectives through innovative ways to structure and design portfolio acquisition and joint ownership opportunities.