PPM Energy Names Two New Officers
Click Here for a PDF version of this press release.
September 15, 2006
PORTLAND, Ore. - PPM Energy, Inc., ScottishPower's (NYSE: SPI) competitive US energy business, has created two new executive positions to support its growing business. Deborah Gronvold will now serve as vice president/treasurer, and Barrett Stambler will serve as vice president/Renewable Origination.
Deborah Gronvold has more than 17 years in the energy business (with PPM Energy, Sithe Energies, Edison Mission Energy), and eight years in investment banking (with Security Pacific Merchant Bank and Chase Manhattan Bank). Gronvold assumed responsibility for PPM Energy's treasury functions before the sale of its former affiliate PacifiCorp and will continue to be responsible for PPM Energy's corporate finance operations functions, including relationship management for ratings agencies, banking and investment banking organizations. She has most recently played a key leadership role in PPM Energy's first and second rounds of Wind Power Portfolio financings. Gronvold holds a B.A. in Business Administration from the University of Wisconsin, and an M.B.A. in Finance from New York University/Stern School of Business.
Barrett Stambler has more than 20 years of experience in the renewable energy business with PPM Energy, PacifiCorp, U.S. Windpower, Calpine, and the U.S. Department of Energy. Stambler has most recently served as PPM Energy's managing director of renewable origination and will continue to oversee PPM Energy's wind sales and marketing activities in his new role expanding PPM Energy's customer relationships across North America. He has been integral in PPM Energy's wind power business from its earliest days, including the company's first-ever power purchase agreement for Stateline Wind Energy Center in 2001. Stambler holds a B.A. from Pomona College and an M.B.A. from Yale University.
PPM Energy (www.ppmenergy.com) now has nearly 1,800 megawatts of wind energy in operation or under construction. The strength of its renewable project pipeline has allowed the company to increase its 2010 target by more than 50 percent to at least 3,500 megawatts developed or controlled by PPM Energy. PPM Energy balances its supply portfolio with sales to wholesale customers, placing almost all of its output in long-term contracts. Major customers include the cities of Seattle, Sacramento, Eugene, Pasadena, and Anaheim as well as investor-owned utilities such as Xcel Energy and Pacific Gas & Electric Company and the federal Bonneville Power Administration. PPM Energy also creates innovative new products to meet customer needs, such as operations and maintenance services and build-own transfers.