GreenGo Appoints Philip Prause as new VP Business Development

As of February 2017, we are pleased to have Philip Prause as new Vice President Business Development to further grow GreenGo’s Solar 2.0 strategy with GW-scale expansion plans in the U.S. and EU.

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Philip Prause joins with hands-on utility-scale solar business development experience in the EU, U.S., and Canada. Most recently, Philip worked at GP Joule, where he was involved in all aspects of business development including project- and PPA origination, financial modeling, M&A transactions and capital raises.

Philip has a background in investment banking in the financial markets division of JP Morgan and UBS in London and Hong Kong.

CEO Karsten Nielsen comments:

“We are extremely pleased to have Philip Prause on board to help drive our growth and GW-scale expansion plans in the Solar 2.0 paradigm. The combination of financial- and solar business development background is ideal to succeed in this role, and his DNA surely fits with our 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 a GW in operation by 2021, 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.