Dive Brief:
- David Crane, the CEO who helped transform NRG Energy from a traditional power company into a leader in utility-scale renewables, has joined the board of Vote Solar, an advocacy group committed to advancing solar policy.
- Crane departed NRG following a bankruptcy spinoff, and subsequently joined private equity firm Pegasus Capital Advisors. The firm has a principal focus on sustainability investing.
- NRG was ultimately reorganized into three divisions, and Crane stepped down at the end of 2015.
Dive Insight:
David Crane has stayed busy since leaving NRG, joining Pegasus as senior operating executive and now signing on with Vote Solar. In a statement, Crane appeared to allude to the recent election of Donald Trump as a driver to ramp up advocacy for clean energy policy.
"In light of recent developments, it is more important than ever that we defend and advance the consumer's right to benefit from our inexhaustible solar resources," Crane said. "Vote Solar plays a critical role in that effort." The organization has been advocating for solar energy since 2002.
At NRG, Crane pressed the company to reduce carbon emissions by 90%—at a time when an overwhelming majority of its generation was fossil fueled. Crane was at the helm of NRG when it controlled about 52 MW of generation, and 47 GW was carbon-emitting.
Under his leadership, NRG no longer saw itself as a conventional" power company and focused on new technologies and services. Ultimately however, the company's strategy got ahead of the market's need for revenue and the share price crumbled. NRG Energy was forced to announce plans for a major corporate restructuring, separating its clean energy business from its traditional generation.
Vote Solar board member Kate Gordon said the addition of Crane will give the organization "unparalleled experience with both the challenges and the opportunities of building a clean energy economy. ... His deep familiarity with the business side of solar, including key barriers to solar growth, will add tremendous value to an organization committed to removing those barriers."