Nautilus Solar names new VP

The Starwood Energy-backed solar developer has appointed Juan Alvarez to the newly-created position of vice president of asset management.

 

Nautilus Solar, which is majority-owned by an investment affiliate of energy-focused private equity firm Starwood Energy, has appointed Juan Alvarez to the newly-created position of vice president of asset management, the solar developer said in a statement.

Alvarez joins Nautilus from Cypress Creek Renewables where he served as vice president of international markets, a role that involved managing solar business development and commercial project origination for Latin America.

In his new role, he will focus on expanding Nautilus Solar’s growing third-party asset management business throughout the US and Canada. He will be based at Nautilus’ headquarters in Summit, New Jersey and will report to the company’s president Laura Stern.

“Juan is a veteran in the solar industry and brings a wealth of experience in project development, sales and project finance – both domestically and overseas,” Stern said.

Alvarez’ s 26-year career in the energy and finance sectors include roles at Sharp Electronics, Solar International and SunEdison Spain, according to the statement.

Founded in 2006, Nautilus Solar develops, funds, executes and manages the physical and financial aspects of distributed generation solar electric projects for commercial and public sector customers in North America. To date, it has more than 100 megawatts (MW) – both distributed and grid tied systems – under management in the US and Canada.

Headquartered in Greenwich, Connecticut, Starwood Energy is an affiliate of private real estate investment firm Starwood Capital Group. The energy-focused firm invests primarily in natural gas, renewable electricity generation and power transmission with equity investments typically ranging from $25 million to $100 million or more.

Starwood Energy has raised two general opportunity funds, the most recent – Starwood Energy Infrastructure Fund II (SEIF II) – closing on $983 million in January 2014 and beating its initial target of $750 million. SEIF II will target renewable energy assets in North America.

Through these two funds and other affiliated investment vehicles, Starwood Energy manages total equity commitments of more than $2 billion and has executed transactions totalling more than $4 billion in enterprise value.