SAN MATEO, Calif., March 17, 2015 (GLOBE NEWSWIRE) -- SolarCity® (Nasdaq: SCTY), the nation's no. 1 solar provider, today announced the appointment of Marco Krapels as Senior Vice President of Structured Finance and Strategy. Krapels will report to Chief Financial Officer Brad Buss and oversee the company's project financing division.
Krapels joins SolarCity from Pegasus Capital Advisors, where he was a partner. Prior to that, he was an Executive Vice President with Rabobank, managing various divisions over his 18-year career with the multinational banking and financial services company, a global leader in food, agriculture and sustainability-oriented banking.
"Marco's vast experience in commercial and project financing—particularly within the renewable energy field—in addition to his management expertise and personal passion for sustainability make him a perfect fit for this position," Buss said. "He will be a tremendous asset as SolarCity embarks upon its next stage of growth."
From 2004-2007, Krapels managed Rabobank's European Corporate Debt Capital Markets and derivative sales groups. From 2007-2013, he led Rabobank N.A.'s capital markets, specialty finance areas, and renewable energy finance division in California. The latter included a number of transactions with SolarCity to finance residential and commercial solar projects.
During Krapels' tenure, Rabobank also partnered with SolarCity to create the world's first solar-power enhanced, fast-charge electric car charging corridor from Los Angeles to San Francisco, with EV chargers and solar power systems co-located at Rabobank branch locations.
"We have pioneered many things together and share a rich history," said Krapels. "I look forward to partnering with SolarCity's executive team as we pursue growth opportunities."
Krapels has closed over $10 billion of debt transactions in his career. At Rabobank N.A., he further served as a member of the bank's credit committee and its balance sheet risk management committee. He also co-chaired Rabobank's corporate social responsibility committee. He is a board member of two renewable energy focused non-profit foundations, The Solutions Project and Empowered by Light.
About SolarCity
SolarCity® (NASDAQ: SCTY) provides clean energy. The company has disrupted the century-old energy industry by providing renewable electricity directly to homeowners, businesses and government organizations for less than they spend on utility bills. SolarCity gives customers control of their energy costs to protect them from rising rates. The company makes solar energy easy by taking care of everything from design and permitting to monitoring and maintenance. SolarCity currently serves 16 states. Visit the company online at www.solarcity.com and follow the company on Facebook & Twitter.
This release contains forward-looking statements including, but not limited to, statements regarding future growth. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all. Forward-looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward looking statements. You should read the section entitled "Risk Factors" in SolarCity's annual report on Form 10-K, which has been filed with the Securities and Exchange Commission and identifies certain of these and additional risks and uncertainties. We do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.