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TerraForm Power names independent directors

November 23, 2016jodixonNews0

SunEdison yieldco affiliate TerraForm Power has expanded its board with three new independent directors, including Kerri Fox, the former head of North America project finance at BBVA Securities.

Edward “Ned” Hall, former coo of Atlantic Power, and Marc Rosenberg, a former partner at Cravath, Swaine & Moore, have also been named to TerraForm Power’s board.

“As leaders in their respective industries, Ned, Kerri and Marc will bolster our board with significant experience in finance, energy and corporate governance, critical areas for TerraForm Power. We believe adding these unique and independent perspectives to the Board will enable us to further strengthen the Company while continuing to enhance value for stockholders”, Peter Blackmore, TerraForm Power’s chairman and interim ceo, said in a statement.

Fox, Hall and Rosenberg will stand for reelection at TerraForm Power’s next annual meeting.

With the addition of the three directors, TerraForm Power’s board will expand from seven to 10 members, six of whom are independent under NASDAQ rules.

Until September, Fox served as managing director and head of project finance, North America at BBVA Securities.

Prior to joining BBVA, Fox ran the global export and project finance business for Fortis Capital Corp. from New York, and held various roles in the structured and project finance group at Deutsche Bank.

She began her career as an attorney at Milbank, Tweed, Hadley & McCloy and currently also serves on the board of directors of Alterra Power Corp., a Vancouver-based developer, owner and operator of renewable energy assets.

Hall currently serves as a non-executive director of Globeleq, an independent power producer focused on sub-Saharan Africa, and is the vice chairman of Japan Wind Development Co., Ltd., a developer and operator of wind generation projects.

He previously served as executive v.p. and coo at Atlantic Power and, before that, spent more than 24 years working in the energy sector at AES Corp.

While at AES, Hall held various positions including chief operating officer, global generation from 2011 to 2013.

Rosenberg spent more than 23 years as a partner at Cravath, Swaine & Moore, where he founded and co-chaired the firm’s corporate governance and board advisory practice until his retirement in 2013.