A representative from the investment group that purchased
Solargen Energy’s assests, including the Panoche Valley
photovoltaic solar farm, introduced himself to the board of
supervisors and the county on Tuesday.
In a short five-minute speech to the supervisors, Norman
Villarina described his company and what they will do with the
solar farm. Villarina’s private equity firm, based out of San
Francisco, acquired the solar farm on April 19.
A representative from the investment group that purchased Solargen Energy’s assests, including the Panoche Valley photovoltaic solar farm, introduced himself to the board of supervisors and the county on Tuesday.
In a short five-minute speech to the supervisors, Norman Villarina described his company and what they will do with the solar farm. Villarina’s private equity firm, based out of San Francisco, acquired the solar farm on April 19.
“Our history is, essentially, taking over projects from companies that may have reached some point of distress on their path to achievement on whatever it is they may be achieving,” he said. “Our capital is provided to us from pensioners from all around the country and other places around the world.”
Villarina said the previous management team would stay in place, including Eric Cherniss and John Pimentel.
“We invest that capital and we typically back management teams, like John Pimentel, and provide them the capital that they need to accomplish what needs to be accomplished,” he said. “And as part of that process, we like to think it always has great results in the end. ”
Villarina added that his company was excited about the project.
“There are very few projects of this size not just in California but around the world, he said. “And the fact you guys have this in your backyard is very exciting and you should be congratulated for having it get to this point.”
