SAN MATEO, CA — November 18, 2010 — Tioga Energy, a leading provider of renewable energy services to commercial, government and non-profit institutions, today announced the addition of Greg Saunders to its executive team as executive vice president and chief financial officer. In his new role, Saunders will oversee Tioga’s financial development and provide strategic support as the company expands its project portfolio nationwide.
Saunders brings more than 25 years of financial expertise to his position at Tioga, with leadership experience at several public and private companies in the commercial real estate and structured finance sectors.
“Greg’s extensive financial knowhow is ideally suited to Tioga’s aggressive business roadmap, and we’re fortunate to count him among our crew,” said Paul Detering, CEO of Tioga Energy. “We are confident Greg will seamlessly step into his new role and drive our next phase of development as we set our sites on substantial growth in 2011 and beyond.”
Tioga Energy’s SurePath™™ Solar power purchase agreement (PPA) enables organizations to support their environmental goals without the large upfront costs associated with the installation of solar energy systems. Under the terms of the PPA, Tioga is responsible for the design, construction and operation of its projects, selling the generated clean energy back to its customers at predictable rates.
Earlier this year, the company also served as an instrumental partner in the first successful public-private solar financing and development method in the United States, known as the “Morris Model.” Tioga employed low-interest municipal bonds to finance 19 renewable energy projects in Morris County, NJ and enabled the community to benefit from tax credits not available to public entities.
“I was impressed by Tioga’s growth during a period of economic stagnation, which is a testament to its savvy leadership and audacity to innovate,” said Saunders, executive vice president and CFO of Tioga Energy. “I look forward to working alongside this already stellar team as we solidify Tioga’s position as a major financial services company.”
Prior to joining Tioga, Saunders served as chief financial officer of Codding Investments, a green business investment firm and sustainable real estate developer. He has also held executive positions with Bridger Commercial Funding, National Information Group and Transcisco Industries, Inc. Saunders earned a Master of Business Administration from the Harvard Univer
