Solar Philippines installs new CEO ahead of planned IPO

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Solar Philippines has named American power industry veteran Marty Crotty, who has family ties in the Philippines, as its new chief executive officer.

Prior to his appointment, Crotty served as president of AES Asia, wherein he managed power plants in India, Sri Lanka, Vietnam, and the Philippines, including the Masinloc coal plant, which was acquired by San Miguel Corp for $2.4 billion in 2018.

Crotty also managed the operations of over 10 gigawatts (GW) of solar and wind plants in North America for EDF Renewables, one of the world’s largest renewable energy (RE) firms.

Crotty is extremely grateful to lead the firm, as it aims to achieve founder Leandro Leviste’s vision to accelerate the country’s transition to RE. Leviste himself, meanwhile, said that he is optimistic that the company can deliver the largest portfolio of RE projects in Southeast Asia.

Back in October, Solar Philippines announced a new strategic direction to bring onboard partners and professionals in line with plans for an initial public offering (IPO). The company had also said that it is eyeing to forge more partnerships to push for more solar projects given the drive for more RE power sources.

In December 2018, Solar Philippines partnered with the Korea Electric Power Corporation (KEPCO) for its 63-megawatt (MW) solar farm in Batangas — KEPCO’s first RE project in Southeast Asia.

The company also forged a partnership with the Razon Group’s Prime Infra in June this year to develop a pipeline of projects, representing the country’s largest solar joint venture. This includes the completion of a 200MW solar farm in Tarlac, the country’s largest solar project to date.

At present, Solar Philippines is developing over 10GW of projects in more than a dozen provinces.