Peter Candelaria Named Urban Grid CEO in Leadership Team Expansion

Founder & CEO, Frank DePew, Transitions to Chairman
Seasoned Management Team Poised for Growth and Transition to IPP
Candelaria, having spent eight years in executive leadership at Silicon Ranch–one of the nation’s largest independent power producers–will report to the Urban Grid Board of Managers.

RICHMOND, Va., Oct. 13, 2022 (GLOBE NEWSWIRE) -- Urban Grid, a Brookfield Renewable company and leading solar developer today announced the expansion of its executive leadership team and named Peter Candelaria Chief Executive Officer. A team-centered visionary with over 20 years of experience in both conventional and renewable energy, Candelaria spent eight years in senior management at Silicon Ranch Corporation where he led Origination, Development and Operations throughout his tenure.

Frank DePew, who founded Urban Grid in 2010 and is now Chairman, said Peter Candelaria is everything he could have hoped for in a successor, “Peter is obviously a very accomplished C-Suite executive with expertise at the highest levels of the energy industry. But what makes him so unique is the creativity, collaboration, and accessibility he brings to his leadership approach. Peter aligns well with Urban Grid’s unique company culture and that is incredibly important to me as we begin this next chapter.” Candelaria will report to the Urban Grid Board of Managers.

“I’ve spent the past decade delivering clean energy at scale with the intent of making renewable energy a reliable compliment to the larger portfolio of energy solutions,” said Candelaria. “Urban Grid is incredibly well positioned with numerous projects in pre-construction, a vast portfolio in development and an impressive team on the leading edge of technical innovation and fully prepared to have a disproportionate impact on the industry–and I’m grateful for the opportunity and really proud to join their ranks.”

An accomplished industry expert in environmental best practices in solar development, Candelaria has played a leading role in transformative solar power plant design, construction, and operations which encourage co-located agriculture, habitat regeneration and energy production on solar farm sites. “As clean energy pioneers who endeavor to improve our environment, it is critical that we build, own and operate solar plants that give consideration to best practices in land management and the communities we serve,” said Candelaria.

“As with any CEO successor, finding the best talent and cultural fit is critical and Peter is certainly that fit for Urban Grid. He is a talented and experienced leader who has developed his career in clean energy and has complete endorsement and support from the Board of Managers. We look forward to working with Peter to accelerate the delivery of Brookfield Renewable’s growth strategy through Urban Grid,” said Mitch Davidson, CEO, Brookfield Renewable U.S. and Urban Grid Board of Managers.

Urban Grid
Urban Grid is a utility scale renewable energy project developer, with over a decade of expertise in taking solar and energy storage projects through the full development process, from site acquisition through interconnection, permitting, offtake execution and project exit. Headquartered in Richmond, Virginia–with teams located strategically throughout the United States, Urban Grid has provided utilities and corporate clients with reliable clean energy. We are actively developing a growing portfolio of approximately 15,000 megawatts of solar PV and 7,000 megawatts of co-located and stand-alone energy storage, throughout 12 states in support of America's transition to clean, sustainable power. To learn more, please visit www.UrbanGridSolar.com.

Urban Grid is a Brookfield Renewable company. Brookfield Renewable operates one of the world’s largest publicly traded, pure-play renewable power platforms.

Now as an IPP and owner / operator spanning 12 states, Urban Grid’s portfolio includes 2,500 megawatts of operating/under construction/ready-to-build projects, a 15,000 megawatts solar development pipeline and 7,000 megawatts of stand-alone and co-located energy storage.

Media Contact:

Urban Grid: Val Newcomb: (434) 422-5679, val.newcomb@urbangridco.com

Brookfield Renewable
Brookfield Renewable operates one of the world’s largest publicly traded, pure-play renewable power platforms. Its portfolio consists of hydroelectric, wind, solar and storage facilities in North America, South America, Europe and Asia, and totals approximately 21,000 megawatts of installed capacity and an approximately 56,000-megawatt development pipeline. Investors can access its portfolio either through Brookfield Renewable Partners L.P. (NYSE: BEP; TSX: BEP.UN), a Bermuda-based limited partnership, or Brookfield Renewable Corporation (NYSE, TSX: BEPC), a Canadian corporation. Further information is available at www.bep.brookfield.com and https://bep.brookfield.com/bepc. Important information may be disseminated exclusively via the website; investors should consult the site to access this information.

Brookfield Renewable is the flagship listed renewable power company of Brookfield Asset Management, a leading global alternative asset manager with approximately $650 billion of assets under management.

Media Contact:

Brookfield Renewable: David Heidrich, Stakeholder Relations Manager; +1-207-755-5608
David.heidrich@brookfieldrenewable.com

Investor Relations:

Brookfield Asset Management: simon.maine@brookfield.com
+44 207 408 8389