SAN FRANCISCO – Two solar industry veterans have joined Sol Systems to help lead financing initiatives for one of the most promising and underserved segments of the industry, commercial and small utility-scale. Cory Vaughan and Erik Bakke each bring decades of experience to the firm’s project finance team and its efforts to unlock the $5 billion commercial and small utility-scale market.
“The tipping point for the commercial sector is in sight,” said Colin Murchie, Director of Project Finance at Sol Systems. “Cory and Erik fill out our team with abilities to help us lead the industry across the threshold.”
Cory Vaughan joins the team as Senior Director, Strategic Development. He has over 20 years’ experience in the solar industry. In 2006, Mr. Vaughan joined SunEdison as its first Sales Director, serving in several roles of increasing responsibility, most recently as Managing Director of Business Development. While at SunEdison, Cory was credited for either selling or assisting in the sale of over 650 projects and PPAs. Prior to SunEdison, Vaughan spent a dozen years at the energy giant BP Solar, managing worldwide Balance of System sales and national accounts and distributor sales for the Americas.
Erik Bakke fills the role of Director, Business Development, Western Region. He brings a decades-long career in sales and project management, including over 10 years in the solar industry. He has led and developed project and sales teams for Conergy, SMA, AlionEnergy, and General Electric. Erik holds a B.S. in Mechanical Engineering from California State University San Jose, and a Black Belt in 6Sigma.
Vaughan and Bakke will expand Sol Systems’ focus on California and other Western states, and be based in Sol Systems’ San Francisco office, which has doubled in size since opening in January 2015.
The complexities of commercial and small-utility scale solar have left the sector underserved due to high costs relative to project size. Sol Systems is one of the few firms specifically focused on driving down transaction costs and increasing efficiency to enable solar developers to succeed in financing these more complex assets.
ABOUT SOL SYSTEMS
Sol Systems is a solar energy finance and investment firm. The company has facilitated financing for 262MW of distributed generation solar projects on behalf of Fortune 100 corporations, insurance companies, utilities, banks, family offices, and individuals. Sol Systems provides secure, sustainable investment opportunities to investor clients, and sophisticated project financing solutions to developers. The company’s tailored financial services range from tax structured investments and project acquisition, to debt financing and SREC portfolio management. For more information, please visit www.solsystems.com.