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Cordelio Power unveils new growth strategy

DCN-JOC News Services
Cordelio Power unveils new growth strategy

TORONTO — Toronto-based Cordelio Power Inc. has announced the appointment of four new executives and a new mission focused on expansion with new projects in the North American renewables market.

As part of the broadened mission, the firm said in a Jan. 24 release it will focus on adding to its portfolio through co-development arrangements with other developers, self-originated development projects, and select acquisitions in targeted North American power markets.

Cordelio Power manages a 1,000-megawatt renewable power generation portfolio that includes direct ownership of a 396-megawatt portfolio of wind and solar projects in Ontario and a 656-megawatt portfolio owned by the Canada Pension Plan Investment Board (CPPIB) through a joint venture. Cordelio is wholly owned by the CPPIB.

The new managers are John Carson, CEO; Nick Karambelas, chief commercial officer; Paul Rapp, vice-president of project development; and Luke Pangman, general counsel.

All previous Cordelio team members remain in place, the statement said, including Laura Jehn, president and general manager and Rob Roberti, CFO.

The new combined team has experience in originating, developing, financing, constructing and operating renewable power projects, including recent experience at Alterra Power Corp., the firm said.

“Given our track record, our committed ownership and the opportunities we are seeing, we anticipate extensive growth in wind, solar and storage development opportunities over the next several years,” said Carson in the statement.

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