GreenGo Appoints Kenn Righolt as new Group CFO

AS OF JULY 1ST 2017, WE ARE PLEASED TO HAVE KENN RIGHOLT AS NEW GROUP CFO AND AN INTEGRAL PART OF OUR EXECUTIVE MANAGEMENT TEAM.

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Kenn Righolt joins with more than 10 years of experience in the solar energy industry. He offers unique entrepreneurial background as the founder of Green Dealflow and Green Investors. In addition, he brings extensive experience in M&A and project financing from Ernst & Young and Proark, where he created one of the first large fund structures dedicated to utility scale solar. Furthermore, he has established a full CFO toolbox from 6 years of experience as the former CFO of McDonald’s Denmark.

CEO Karsten Nielsen comments:

“We are extremely pleased to strengthen our executive management team with Kenn Righolt on board. Kenn’s unique profile is much broader than that of a typical CFO, and he will surely contribute within project financing and business development also. The entrepreneurial background is a perfect fit with GreenGo culture and values“.

 

About GreenGo Energy Group A/S

GreenGo Energy Group A/S was founded in 2011 with a vision to disrupt the century-old centralized utility-scale business models through disruptive full-service solar solutions.

GreenGo quickly obtained a market leadership position in the Nordics with MW solutions for blue-chip clients including IKEA, Porsche Holding, SEB, Danica Pension, and Pension Denmark.

Throughout 2015 and 2016, we have invested significantly in global expansion with a focus on the U.S. market. In close collaboration with our strategic project financing partners, we are currently developing more than 1.4GW in several U.S. states. In order to secure maximal business and environmental impact, we exclusively focus on large-scale 100MW+ solutions and target 100% RE conversion of the C&I clients.

GreenGo’s platform is a full-service solution including origination, development, engineering, construction, operations & maintenance, asset management, and project financing services. We continue to innovate and develop the full-service platform, business models, and disruptive products and services that drive disruptions in the cost of solar energy and create customer and investor convenience.

Our strategic focus lies on the business model that maintains positive cash-flow throughout project execution, avoids debt, and keeps solar assets off our balance sheet. In order to enhance our competitiveness and total earnings per Watt installed, we focus on developing project financing solutions that continuously lower cost-of-capital.

Furthermore, the paradigm going forward is what we call Solar 2.0: solutions that do not rely on government subsidies or incentives. We consider this essential for developing a sustainable growth platform.

Our organization currently consists of 30 skilled employees in Denmark, USA, and Mexico. More than 50% of these employees have an engineering background. The financial targets are ambitious, and we plan to have more than 2GW in operation by 2020, thus becoming a GW company.

GreenGo is owned by founders and financially strong Danish family offices, ensuring strong backing and a long-term view on the development of the company.