Cordelio Power Announces Expanded Management Team and Mission

TORONTO, Jan. 24, 2020 /PRNewswire/ - Cordelio Power Inc. ("Cordelio" or the "Company") is pleased to announce the addition of several new team members and a new focus on expansion within the North American renewables market. The new team members include:

• John Carson  -  Chief Executive Officer
• Nick Karambelas  -  Chief Commercial Officer
• Paul Rapp  -  Vice President, Project Development
• Luke Pangman  -  General Counsel

All previous Cordelio team members remain in place, including Laura Jehn (President and General Manager) and Rob Roberti (Chief Financial Officer). The new combined team brings decades of experience in originating, developing, financing, constructing and operating renewable power projects, including recent experience at Alterra Power Corp. (acquired by Innergex Renewable Energy Inc. in 2018).

As part of the broadened mission, the Company will now be focused on adding to its portfolio through co-development arrangements with other developers, self-originated development projects, and select acquisitions in targeted North American power markets.

"We are excited to put together this new growth effort, with a talented combined team of renewable energy professionals that have deep North American development experience," said incoming CEO John Carson. "Given our track record, our committed ownership, and the opportunities we are seeing, we anticipate extensive growth in wind, solar and storage development opportunities over the next several years."

The expanded Company will continue to be headquartered in Toronto, Ontario, with additional offices in Vancouver and New York City.

About Cordelio Power Inc.

Cordelio Power Inc. manages a 1,000+ MW renewable power generation portfolio that includes (i) direct ownership of a 396 MW portfolio of wind and solar projects in Ontario, and (ii) a 656 MW portfolio investment (net interest) owned by Canada Pension Plan Investment Board ("CPPIB") through a joint venture with a strategic partner. Cordelio was formed in June 2018 in conjunction with its acquisition of the original 396 MW portfolio. The Company carries out its operations and growth activities by working with all stakeholders in an efficient, safe and environmentally responsible manner. Cordelio is wholly owned by CPPIB.

SOURCE Cordelio Power Inc.