Distributed generation company Martin Energy Group has hired a former NextEra Energy Resources executive.
David Galvin took up his new position as senior director at Martin Energy in West Palm Beach, Fla., in March, according to his profile on LinkedIn.
His responsibilities at Martin Energy could not immediately be established. Marcus Martin, the Tipton, Mo.-based company’s ceo, did not respond to an inquiry.
Galvin had previously spent four years with NextEra, starting in 2013, where he rose to director of business development. Before that, he worked across various finance roles with NRG Energy and then at NRG-Toshiba joint venture Nuclear Innovation North America, where he was as senior v.p. finance and strategy.
"CHP as a service"
In March, Martin Energy signed a $100 million senior secured credit facility from Orion Energy Partners, some of which will be deployed to construct a 5 MW combined-heat-and-power project in Puerto Rico.
The unnamed plant has a power purchase agreement with bottling company Coca Cola Puerto Rico Bottlers and is under construction.
The investment from Orion is designed to allow Martin Energy to begin to provide "CHP as a service" while retaining ownership of the projects it builds and operates, rather than selling the plants to its customers. The Coca Cola plant is the first such project.
Capstone Headwaters brokered the financing as sole placement agent to Martin Energy, which can draw down on the facility as projects reach the notice to proceed stage.
Greensfelder, Hemker & Gale and Reichard & Escalera served as as legal counsel to Martin Energy on the credit facility, while Latham & Watkins and McConnell & Valdés advised Orion.