RET Capital COO Karen Morgan is promoted to CEO Succeeds co-founder John Bohn

SAN FRANCISCO—December 8, 2015—Renewable Energy Trust Capital, Inc. (RET Capital) has a new CEO. The board of directors today announced that Karen Morgan, who had been serving as president and chief operating officer, succeeded John Bohn as chief executive officer effective Nov. 16.

Bohn, a former commissioner of the California Public Utilities Commission, will continue as Executive Chairman. Morgan and Bohn co-founded RET Capital in 2012 along with Christian Fong, who today becomes the company’s new chief operating officer and chief investment officer. The trio will continue to work together closely on corporate strategy and operations.

“We came together as partners and focused on gathering a team of top talent, attracting flexible capital that can move through market changes, and connecting our partners with marquee assets,” said Morgan. “Over the last two years, we’ve demonstrated our ability to execute that strategy in a highly competitive environment while delivering appealing returns for our investors. We have the team, we have the assets, and we have developed strong industry partner relationships. This planned strategic transition positions us to leverage the value we’ve created to keep growing—and to make an impact on the clean energy sector over the next five years and beyond.”

RET Capital, an established independent renewable energy growth platform, currently owns 11 North American assets with a collective generating capacity of 110 MWDC of solar PV and 102 MW of wind.

“As we look to the future through a volatile market period, it’s important is to become efficient and focused,” said Bohn. “Karen and Christian’s track record in the renewable finance space is clear, and is invaluable moving forward. This transition – which has long been part of our business plan – passes the baton formally to the people who have generated the success we already enjoy.”

In her new role, Morgan will continue to execute the company’s vision and take advantage of market opportunities. Fong will oversee operations and lead investment management, while Bohn will continue to lend his expertise in clean energy financing.

“There’s nobody as good at sussing out an opportunity, making it a reality, and selling it to partners as Karen,” said Bohn. “This new structure will give her more time to do that and less need to mind the store. As chief executive, she can focus on what she does best: make stuff happen.”

“RET Capital has an incredibly deep bench of professionals,” said Fong. “The team’s ability to find creative finance and structuring solutions for our partners is exceptional.”

RET Capital continues to grow, even as other firms focused on grid-scale clean energy have stumbled. The $733 million enterprise is cash flow positive. As an independent finance platform, it is able to be nimble and creative in comparison to the market’s first round of yieldcos, which tend to be publically traded subsidiaries of larger companies.

“Our structure and the abundant talent among RET’s team allows us to execute transactions reliably and with precision,” said Morgan. “We have demonstrated our ability to perform and succeed against larger competitors because of our ability to partner well and close deals properly, expertly, and with certainty of execution.”

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 helps to facilitate accelerated growth in the North American renewable marketplace by working 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 collaborates 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 asset partners’ objectives through innovative ways to structure and design portfolio acquisition and joint ownership opportunities.