Denver, Colorado – May 17, 2012 - Sunetric, Hawaii’s leading solar design and installation company, announces the appointment of Tyler Fauerbach as Managing Director of Project Finance and Strategic Development. Mr. Fauerbach will be responsible for raising debt, tax and cash equity for the company’s residential, commercial and utility-scale solar projects and developing new market opportunities. He will be based in the company’s Denver office.
“Tyler’s vast experience in the financial services and banking industry with a focus on the energy sector will be valuable as Sunetric continues its expansion in the continental United States,” said Alex Tiller, CEO of Sunetric. “Tyler will be developing the companies Renewable Energy Finance business, guiding and shaping the offering as we develop and introduce innovative programs to fund renewable energy systems and projects throughout the country.”
Fauerbach brings 10 years of energy banking to his new role at Sunetric. He served previously as vice president of Power Finance at U.S. Bank, where he developed the bank’s power project finance lending programs and helped facilitate approximately $270 million in wind, solar and gas-fired power generation project financings. The solar project financings in this portfolio included debt transactions for Solar Power Partners, Perpetual Energy Systems and SunEdison. In addition, Fauerbach worked closely with U.S. Bank’s Community Development Corporation on the development of unique debt and tax equity structures. Prior to working for U.S. Bank, he served as a vice president in the Utility Lending Group at CoBank, ACB where he managed a loan portfolio of electric cooperatives in excess of $300 million.
One of Fauerbach’s projects will be the development of a Solar Fund Company that is to be partially owned by Sunetric. He will be responsible for working with Tiller to help raise additional equity for the fund company, meeting with potential fund investors, and hiring and managing the fund company’s employees.