SALT LAKE CITY,UT - February 5, 2016
sPower, a leading renewable energy provider headquartered in Utah, announced that its CEO, Ryan Creamer, has been named one of Utah Business Forty Under 40 for 2016. For the 14th year, the magazine’s annual program recognizes Utah’s young, up-and-coming professionals – from serial entrepreneurs to technology innovators to non-profit leaders – who are shaping industry trends and molding the future.
“Today we’re honoring Utah’s rising business luminaries who have accomplished a lifetime’s worth of success – all by the age of 40,” said Sam Urie, publisher of Utah Business. “They are barely at a mid-point in their careers yet they’ve already proven that they dare to aim for the stars.”
After culling through hundreds of nominations, Utah Business judging panel, comprised of previous Forty Under 40 honorees, selected this year’s list of deserving recipients based on their proven records for making a difference both with their careers and with their community service.
“I continue to be amazed by the tremendous achievements made by great people in our state. I am deeply honored to be included amongst this group of Utah leaders,” said Creamer. “While this award recognizes individual achievement, it also celebrates the hard work and talent of my sPower team and my family. I am grateful for all that they do and all of their support.”
sPower is a clean energy power company that Creamer co-founded in 2012. Following are sPower 2015 highlights accomplished under Creamer’s leadership:
• Corporate Growth: Tripled balance sheet assets from $500 million in 2014 to $1.5 billion in 2015; doubled operating portfolio from 230 megawatts (MW) in 2014 to 500MW in 2015. sPower has plans to reach the 1 gigawatt (GW) mark in operating projects by the end of 2016 – enough clean energy to power half a million homes.
• Acquisitions: Closed on more than 300MW; diversified technology with two wind farm development projects.
• Origination: Signed 11 new power purchasing agreements (PPAs) for 290MW+; initiated 2GW of development in AZ, CA, NC, NY, SC, UT and WY.
• Permitting | Interconnection: Received land use approvals for the development of 660MW; initiated permitting and development on 10,400+ acres; filed new interconnection requests for 2.9GW.
• Construction: Installed one-millionth panel; conducted 16 groundbreakings; constructed first wind farm; commissioned 14 projects.
• Tax Equity | Debt Financing: Closed five tax equity facilities for $255MM; raised $446MM of debt financing.
• Leadership: Ryan Creamer elected to the Solar Energy Industry Association’s (SEIA) Executive Committee. Hired David Shipley, CFO, and Ray Henger, senior VP of structured finance.
sPower, an AES and AIMCo company, is the largest private owner of operating solar assets in the United States. sPower owns and operates a portfolio of solar and wind assets greater than 1.5 GW and has a development pipeline of more than 10 GW. sPower is owned by a joint venture partnership between The AES Corporation (NYSE: AES), a worldwide energy company headquartered in Arlington, Virginia, and the Alberta Investment Management Corporation, one of Canada’s largest and most diversified institutional investment fund managers.