Power-plant developer FuelCell Energy has added Christopher Sotos, senior vice president of strategy, mergers and acquisitions at power distributor NRG Energy, to its board of directors.
At US-based NRG Energy, Sotos is responsible for the development, execution and implementation of the company’s business strategy across all platforms, retail and wholesale business models as well as smaller venture capital investments and strategic relationships.
He has over two decades of experience in corporate financial management and business strategy.
“His power generation industry experience and expertise in business strategy and financial management make him a valuable addition to the FuelCell Energy Board and the Company it serves,” said Chip Bottone, chief executive officer at FuelCell Energy.
“FuelCell Energy provides one of the few clean distributed energy baseload solutions for customers. I look forward to actively contributing to the growth of FuelCell Energy and providing insight into fuel cell applications in the power markets,” said Sotos.
In August this year, NRG Energy bought $35m of FuelCell Energy shares and extended a $40m loan in order to enable FuelCell to invest in project development, project finance and working capital support. NRG Energu now owns 6% of the outstanding common stock of the Connecticut-based company.