New Energy Equity announces promotions of executive leadership team

ANNAPOLIS, Md., Nov. 4, 2022 /PRNewswire/ -- New Energy Equity (New Energy), a wholly-owned subsidiary of ALLETE (NYSE: ALE), announced today the promotions of several members of their executive team:

• Josh Kunkel to President of New Energy Equity
• Lindsey Gillis to Chief Administrative Officer
• Dean Eastlake III to Chief Operations Officer
• Jamie Borell to Senior Vice President Land and Business Development
• Eric Pasi to Senior Vice President, New Market Development and Marketing
• Eric Hanson to Vice President, Engineering and Construction

Co-founder Matt Hankey will continue to lead New Energy as Chief Executive Officer.

"With more than 80 years combined solar energy industry experience and a tremendous track record of leading solar finance and development, we are thrilled to announce these promotions within our leadership team," Hankey said. "I look forward to working closely with this team in their new roles, along with the rest of the team as we continue the growth, success, and evolution of the New Energy Equity brand."

In his previous position as Vice President of Business Development, Kunkel was instrumental in New Energy's growth over the past three years. He played a key role in the acquisition of New Energy by ALLETE in April 2022, along with the merger and integration of Impact Power Solutions and Energy Support Services by New Energy this year. As president, Kunkel will lead all commercial and project acquisition activities while collaboratively running daily management of New Energy with Hankey.

"The accomplishments of the New Energy team have been remarkable, and I am honored to be a part of its success," Kunkel said. "Now, with the backing of ALLETE, our world-class team is poised for even further growth in our mission to leave behind a better world through the advancement of clean energy."

Previously, as VP of Operations, Gillis excelled at providing oversight of resources engaged at every phase of project development, including due diligence, planning, and project implementation, significantly contributing to the company's competitive management strength and value benefiting its many partners and projects. As Chief Administrative Officer, Gillis will now also oversee Human Resources, including recruiting, staffing resource allocation, and professional development as well as lead New Energy's Diversity Equity and Inclusion Committee.

"Establishing and fostering a values-based culture has always been a priority at New Energy, "Gillis said. "With this opportunity to lead the mentoring and coaching of our employees, and with the unique perspective as a woman in leadership, I am proud to continue New Energy's commitment to diversity both within our company and the solar industry."

In his previous role of VP of Engineering and Construction, Eastlake led all procurement, as well as technical and project management efforts, ensuring best-in-class design, performance modeling, and construction workmanship through final project commissioning. His management of the relationships with EPCs, utilities, owner's engineers, permitting agencies, and technical reviewers has been paramount to the company's growth and success. In his promotion to Chief Operations Officer, Eastlake will now oversee all operations for New Energy, including the origination of development and implementation of those projects once developed.

"Being able to serve as COO exemplifies the great opportunities of elevation at New Energy given to leaders from within, as we expand the volume of projects and the number of partnerships that our growing team manages," Eastlake said.

Jamie Borell, previously the CEO of Impact Power Solutions before the company was acquired by New Energy Equity, said, "I am thrilled to advance in my role as the VP of Land and Business Development at New Energy, bringing with me a team of highly talented and capable professionals who are excited and ready to work together as one team."

Eric Pasi, the newly appointed senior VP of New Market Development and Marketing, has been in the industry for over 15 years and has had a substantial impact on the success of solar in many community solar markets throughout the country. "The clean energy industry is advancing rapidly and the leadership team at New Energy is comprised of top talent dedicated to improving the future for people and the planet," Pasi said.

Eric Hanson, now the VP of Engineering and Construction at New Energy, also comes from Impact Power Solutions. Hanson said, "The capabilities of this executive team will undoubtedly lead, not only New Energy to the next level, but lead the entire clean energy industry to new heights."

New Energy Equity, a wholly-owned subsidiary of ALLETE (NYSE:ALE), develops, finances, operates and manages solar power generation assets, providing clean electricity to commercial, industrial, municipal, and utility customers under long-term contracts. New Energy Equity has successfully developed over 330MW of solar projects and closed more than $600M in clean energy investments. The company has been ranked on Solar Power World's "Top Solar Contractors list since its inception and voted one of the fastest-growing energy companies in D.C., Maryland, and Virginia by Inc. Magazine. To learn more, visit https://www.newenergyequity.com.

Contact:
Bridget Petersen 
(801) 866-3687 
bpetersen@newenergyequity.com

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SOURCE New Energy Equity