Canadian renewable power producer BluEarth Renewables Inc has appointed David McGraw to its board of directors. McGraw is a senior vice president and CFO of Ontario Teachers’ Pension Plan (OTPP). One of BluEarth’s investors is Teachers’ Private Capital, the private equity investment arm of OTPP. Based in Calgary, the company is also backed by ARC Financial Corp. In November 2014, ARC and Teachers, which first invested in BluEarth in 2010, made a follow-on investment totaling $81 million.
David McGraw Appointed to BluEarth Renewables’ Board of Directors
CALGARY, ALBERTA–(Marketwired – March 12, 2015) – BluEarth Renewables Inc. (BluEarth) today announced the addition of David McGraw to its Board of Directors.
“David McGraw brings more than 20 years of senior management experience and we are pleased to have him join our Board of Directors. His depth and breadth of experience will be a tremendous asset to BluEarth as we continue to target $1 billion of spinning assets by 2017,” said Kent Brown, President & CEO of BluEarth.
David McGraw is Senior Vice President and Chief Financial Officer of Ontario Teachers’ Pension Plan (OTPP). OTPP is Canada’s largest single-profession pension plan with net assets of $141 billion as of December 31, 2013. Before joining Teachers’ in 2004, Mr. McGraw was Chief Financial Officer of Bell ExpressVU. Prior to that, he was Vice-President, Mergers & Acquisitions/Corporate Finance, at BCE/Bell Canada and Partner-in-Charge of the Corporate Finance Group of a major international accounting firm. Mr. McGraw is a Fellow of the Institute of Chartered Accountants of Ontario. He earned a Bachelor of Commerce from McGill University and an MBA from the Ivey Business School. He is also a member of the Institute of Corporate Directors.
BluEarth has been implementing an aggressive growth strategy since it opened its doors just over four years ago. Over the past year the company acquired the 9.3 MW Tyson Creek Hydro Facility in British Columbia, as well as five solar projects totaling 48.5 megawatts (MW) in Ontario. In addition, construction is underway on Culliton Creek, a 15 MW run-of-river hydro project in British Columbia, which is expected to be operational by the end of the year. Construction is also underway on the 60 MW Bow Lake Wind Project in Ontario. This project, in partnership with Batchewana First Nation, is expected to be operational by the end of 2015.
About BluEarth Renewables Inc.
Headquartered in Calgary, Canada, BluEarth is a private independent renewable power producer, focused on the acquisition, development, construction, and operation of wind, hydro, and solar projects in North America, with a primary focus in Canada. Our team is exceptionally experienced in the Canadian renewables industry with multiple decades of successful development, construction and operation of large-scale projects. BluEarth believes it has the power to change the future™ by demonstrating how to be sustainable and profitable, leaving the world a better place. For more information, visit www.bluearth.ca or follow us on twitter @BERenewables.
BluEarth Renewables Inc.
(403) 668-1575 x422
Ontario Teachers’ Pension Plan
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