Project Manager
Resume:
WILLIAM S. GLENESK
Plano, TX
***********@*****.***
EXECUTIVE SUMMARY
Seasoned executive with key accomplishments in project finance, project development, M&A,
valuation, accounting and tax. I have worked in the power and energy sectors since 1989 (16 years
with TXU in Europe and the U.S). I have also worked in consultancy, investment banking and the
solar industry. I have an MBA and I am a UK qualified accountant (CPA Equivalent).
PROFESSIONAL EXPERIENCE
RENESOLA
Director of Project Finance – North America
Renesola is a Chinese solar company, manufacturer of wafers and panels.
April 2012 - Present
• Responsible for the Business development and finance function in the Americas.
• Acquired 4 projects totaling 85 MW in California, 75 MW had PPAs.
• Role on projects: conduct negotiations, arrange finance, value the projects and lead due
diligence.
• Reviewed projects in MA, Ohio, NJ, AZ, VT, Puerto Rico, Mexico, Namibia and Chile.
TRINA SOLAR
Head of Finance U.S. Project Development
April 2010 – April 2012
Trina Solar is one of the largest Chinese solar panel manufacturers with revenues of $2.1 billion in
2011.
• Performed project development, sourced debt and equity finance and sold projects to
investors.
• Evaluated and made bids for several solar project pipelines.
• Developed solar projects totaling 100 MW (60 MW had PPAs).
FIRST SUSTAINABLE, LLC
Director of Project Finance
2009 – 2010
First Sustainable is a renewable energy advisory, development and investment banking company.
Provided project finance advice on renewable to clients in the U.S., Europe and India. Helped raise
a $200 million fund in Europe.
PRUDENTIAL CAPITAL GROUP, Dallas, TX
Director – Team Leader
2007 – 2009
PCG has a $4 B electric portfolio. Personally responsible for deploying $400 mm of finance
annually.
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• Managed a team of four which provided project finance and tax equity to private equity
firms, utilities, developers and energy companies in the Eastern half of North America.
• Performed origination, credit analysis and management of a portfolio of $1 billion.
• Provided finance to wind, hydro, solar, biomass, landfill gas, coal, gas and ethanol projects.
• Clients included: Arclight, Brookfield, TerraGen, Solyndra, Noble, EIF, Starwood, Central
Vermont Public Service, SCANA, Green Mountain Power, Atlantic Power, American
Renewables, Everpower, Maxim, Olympus, AEP, PSEG, UIL, PEPCO, Kruger, Lakeside
Energy, NRG, LS Power, Ontario Power Generation, First Wind, GenPower, Babcock &
Brown, Denham Capital and Caithness Energy.
DUFF & PHELPS LLC, Dallas, TX
Vice President
2005-2007
Duff & Phelps is an investment banking and financial advisory firm, formerly the U.S. valuation
practice of PriceWaterhouseCoopers.
• Managed teams which valued power projects. This included wind, coal, gas, and ethanol
projects.
• Clients included TXU, Babcock & Brown, GE, Lundin Mining, Exelon, National Grid,
Constellation Energy, Great Plains, Intergen, Southern Company, Mirant, NRG, Boston Gen
and Arcelor-Mittal. The valuations included whole companies, power plants, mines, hedges,
contracts and commodities.
TXU CORPORATION, Dallas, TX (Now Energy Future Holdings)
1989-2005
Director - Business Development & Structured Finance
2003 – 2005
Reported to the Controller of Oncor:
• Responsible for providing financial support for business development activities in the
regulated electricity business and TXU Gas.
• Evaluated M&A transactions. Wrote Information Memorandums and disposed of assets.
TXU CORPORATION, Dallas, TX
Director of Investment Analysis
2001-2003
TXU had major power and gas businesses in the U.S., Europe and Australia.
• Managed a global team of 12 people that reviewed all potential transactions in North
America, Europe and Australia.
• Acted as an interface between the deal team and the CFO.
• Reviewed the due diligence and valuations on acquisitions, disposals, significant power and
gas contracts, construction contracts, new projects, renewable investments and financing
structures.
Key Achievements:-
• Established global guidelines and processes for investment appraisal, deal approval and
post-investment review.
• Carried out post-investment reviews on all TXU’s global acquisitions during the period
1995-2002.
• Responsible for evaluating all valuation and forecasting models used by the company
internationally. Used Monte Carlo simulations, option theory and other risk software.
• Reviewed the accounting impact of all transactions,
TXU EUROPE, London & Ipswich, UK (Now part of E.ON)
Senior Corporate Finance Manager (M&A and Project Finance)
1998-2001
TXU Europe was a major power and gas company, with six million electricity and gas customers.
Financial lead on M&A and major transactions (e.g., utilities, power plants, gas acquisitions and
retail businesses). Leading role in valuation, financing, due diligence and negotiating transactions.
Developed financially efficient corporate structures with tax advisers, auditors and investment
bankers.
• Led the finance, valuation, due diligence and integration teams on several German M&A
transactions, including the acquisition and project financing of Stadtwerke Kiel. TXU
acquired 850,000 electric customers in Germany.
• Managed the project financing of a 215 MW gas-fired power plant at Shotton. Total finance
raised was $260MM. Selected the lenders and negotiated the loan documentation.
• Was responsible for selling 2,000 MW of coal plants.
• Advised TXU Europe’s CEO on potential mergers with two large German utilities and an
Italian utility. Played a leading role in bids for companies and assets in the UK, Poland,
Estonia, Switzerland, Spain, Czech Republic and Holland.
• Led the structuring of several billion dollar power contracts and negotiated the accounting
treatment with the auditors.
• Project lead on financing of a $300 mm portfolio of gas E&P assets in the North Sea.
• Carried out strategic reviews on the following energy markets: UK, Germany, Italy, Estonia,
Brazil and the Ukraine.
• Spent 6 months in Boston working for a sister company Citizens Power. Participated in the
U.S. North East asset auction (coal and gas assets). Project managed the acquisition bid
process and due diligence.
EASTERN GROUP (acquired by TXU), IPSWICH, UK (Now part of E.ON)
1994-1997
M&A Manager
Eastern’s generation business was a start-up which developed/acquired $6 billion of assets over an
8-year period. First financial person recruited. Actively involved in acquiring assets, due diligence,
valuation, contract negotiation, raising finance, and forecasting power, gas and coal prices. Projects
were located in the UK, Eastern Europe, Taiwan, India, China and North America.
• Played a leading role in the acquisition and integration of 6GW of coal-fired generation;
total price $4B. Developed power price forecasting software with Caminus and Henwood.
• Led the finance, due diligence and valuation team on a $1.3B project bid for an international
energy company (i.e., Destec, which became part of Dynegy).
• Responsible for financial accounting and forecasting for the business, which had revenue
over $1 billion.
• Developed and project financed a 350 MW project in India. .
• Led the M&A team and integration team which purchased an electric utility in the Czech
Republic (total cost of $80M).
• Played a leading role in purchasing natural gas for UK power projects. This is included a JV
with Siemens to build a clean coal project in the UK. Evaluated IGCC technology.
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1989-1994
Project Finance Manager
• Lead finance team member on the development of four UK power plants totaling 1.8 GW (3
CCGTs and a 13.5 MW biomass project); total construction cost $1.9B. These were BOO
projects utilizing project finance. I played a leading role in financial modeling, contract
negotiation, and negotiating loan documentation with banks.
• Responsible for providing financial support to new start-up businesses. This included
preparing financial statements, budgets, forecasts and providing tax advice. Helped establish
a new start up CHP business.
• Reviewed and appraised a range of investment opportunities. Evaluated numerous joint
ventures and renewable investments. Built financial models to evaluate power projects and
to monitor project performance on behalf of lending banks.
Chequepoint International, London, UK
1988-1989
Financial Controller
Marsh & McLennan, London, UK
1987-1988
Head of Management Accounting
Ford Motor Company, Bermuda
1984-1987
Financial Accountant
Responsible for preparing financial statements, budgets and forecasts for 4 Ford offshore
companies, and a captive insurance company.
EDUCATION
M.B.A. Henley Business School (Reading University), UK 1989
Fellow of the Chartered Association of Certified Accountants (CPA Equivalent) 1983
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