RICHMOND, Va., April 06, 2023 (GLOBE NEWSWIRE) — Urban Grid, a BrookfieldRenewable company and leading provider of clean energy, today named Saad Shamsi, a former Shell executive and seasoned leader in renewables delivery, as chief Operating Officer.

“In recent years, I have focused on building teams and organizations for the successful delivery of solar and wind projects,” said Shamsi. “The opportunity to join Urban Grid in its evolution from developer to IPP is exciting and will enable me to work with a passionate and dedicated group of individuals who have built an impressive project pipeline.”

During his 16-year tenure at Shell, Shamsi has had a tremendous impact in several business lines, including Silicon Ranch, Savion, and Shell Renewables and Energy Solutions. As COO at Urban Grid, Shamsi’s charge is to firm up its execution capabilities and significantly increase the ability to deliver clean power to the grid annually. In the near term, he will lead the delivery of over 272 megawatts across multiple operating assets over the next 18 months.

“We are working to establish Urban Grid as a world-class operator and leader in the industry. Saad’s previous roles in operations, maintenance, construction, at refineries, wind and solar power plants bring the critical skills needed to build out a reliable project delivery process,” said Peter Candelaria, Urban Grid CEO. “I’ve witnessed first-hand his passion for employee engagement and for building a culture of opportunity and ownership among teams. I’m thrilled to have him join our team!”

In January of 2022, Brookfield Renewable U.S. acquired Urban Grid. The acquisition tripled Brookfield Renewable’s U.S. development to 31,000 megawatts of capacity and set Urban Grid on a course for growth. The acquisition has enabled Urban Grid to transition its development assets into operating facilities. Today, the platform spans the lifecycle of solar and energy storage development through project delivery, from site acquisition, community engagement and development to engineering, commercialization and construction. Urban Grid is actively preparing for the asset management process as projects enter construction.

“Brookfield has deployed significant capital in the U.S. renewable energy sector which remains one of the world’s most significant decarbonization opportunities,” said Mitch Davidson, Managing Director of Brookfield Renewable U.S. “Peter’s leadership combined with Saad’s operational expertise will no doubt deliver strong results for Urban Grid as its evolution to an IPP comes into full view.”

Urban Grid

Urban Grid, a leading independent power producer, facilitates a rapid and sustainable energy transition by developing high-quality renewable energy projects, fostering community partnerships, and serving as a good land steward. Our company is positioned to own and operate its facilities while cultivating a land management system that benefits farmers, communities and the natural world through agrivoltaics. Urban Grid maintains a delivery-focused approach with the goal of being a good neighbor, a responsible corporate citizen and a trusted energy solutions partner. With teams situated strategically throughout the United States, Urban Grid has a long history of contributing to the clean energy economy. In addition to the 272 megawatts currently under construction, we are actively developing a growing portfolio of more than 15,000 megawatts of solar PV and 7,000 megawatts of co-located and stand-alone energy storage. 

Urban Grid is a Brookfield Renewable company. Brookfield Renewable operates one of the world’s largest publicly traded, pure-play renewable power platforms.

Media Contact:

Val Newcomb, AVP Marketing & Communications: (434) 422-5679, [email protected]

Brookfield Renewable

Brookfield Renewable operates one of the world’s largest publicly traded platforms for decarbonization technologies. Our diversified portfolio consists of hydroelectric, wind, solar, distributed energy and sustainable technology solutions across five continents. Our installed capacity totals approximately 25,400 megawatts and a development pipeline of approximately 110,000 megawatts of renewable power assets, 8 million metric tonnes per annum (“MMTPA”) of carbon capture and storage,2 million tonnes per annum of recycled materials capacity and 3 million metric million British thermal units (“MMBtu”) annual capacity of renewable natural gas projects. Investors can access its portfolio either through Brookfield RenewablePartners L.P. (NYSE: BEP; TSX: BEP.UN), a Bermuda-based limited partnership, or Brookfield Renewable Corporation (NYSE, TSX: BEPC), a Canadian corporation.Brookfield Renewable is the flagship listed renewable power company of BrookfieldAsset Management, a leading global alternative asset manager with approximately $800 billion of assets under management.

Media Contacts:

Brookfield Renewable:

David Heidrich, Stakeholder Relations Manager; +1-207-755- 5608

[email protected]

Investor Relations:

Brookfield Asset Management: [email protected]

+44 207 408 8389