Australian utility Pacific Hydro has named Michael Fuge as the company’s new CEO, effective in early July 2014.
Fuge will take over for Rob Grant, who announced he was stepping down from the position this past October.
“This is an outstanding appointment,” Pacific Hydro chairman Garry Weaven said. “Michael has deep energy experience across exploration, production and distribution, having led large teams and complex, large-scale developments in New Zealand, as well as in diverse cultures including Oman and Brunei.”
Fuge joins Pacific Hydro from New Zealand power retailer Genesis Energy Limited, where he has served as chief operating officer since 2011. While at Genesis Energy, he delivered a turnaround on safety performance and year-on-year profitability growth, in addition to overseeing the US$129.5 million Tekapo hydro remediation program.
“The global outlook for the renewable energy sector is strong and Michael will selectively consider growth opportunities within an overall framework of operational excellence to deliver strong performance returns to investors,” Weaven said.
Pacific Hydro’s generating fleet is primarily comprised of wind farms, though the company operates the 2.5-MW Drop, 30-MW Ord and 30-MW Victorian hydropower projects in Australia. The company is also active in the Latin American market, with projects including the 111-MW Chacayes and others.
“Pacific Hydro has diverse renewable energy sources across multiple geographies and as CEO, Michael will focus on realizing the significant value potential of the company,” Weaven said.