Tim Banic

Environmental Health and Safety Manager

Give us a brief overview of your role.

As the Environmental Health and Safety Manager at GSI, I ensure the safety of our team members, whether working in the office, at home, or on a job site. I also ensure that the company meets the requirements of federal, provincial and state safety regulations and work with the Joint Health and Safety Committee to ensure safety.

What is the most memorable moment you have had working for GSI?

Visiting the LWEC site in Michigan for the first time was very memorable. Meeting the people there and seeing the site itself was an amazing experience overall, and I am looking forward to going back.

What led you to pursue a career in Health and Safety, and what are some of the key things you have learned since working in the renewable energy sector?

I got involved in Health and Safety over 20 years ago. My experience started when there was a problem at a company I was working at, and they needed somebody to fix some health & safety problems.  I was experienced in implementing quality procedures and there was a good connection between the jobs, so I was in!  Since then, I have gained a lot of experience in different industries, including construction and manufacturing.  I have learned in the renewable energy industry is that although there is a lot of work with electricity, there is also construction standards that need to be met and manufacturing on the O&M side of GSI.

Tell us one interesting fact about yourself that your colleagues might not know.

Some of my colleagues already know, but I make leather goods out of old baseball gloves. I repurpose them into wallets in efforts to keep them from going to waste and out of landfills.

How do you spend your time outside of work?

Outside of work I enjoy going golfing and a good dad joke!

What is one thing you’d like to cross off your bucket list?

Two bucket list items of mine would be to travel to the east coast of Canada and travel to have a clear view of the Northern Lights.

Rapid Fire Favorites

• Movie: Toy Story, Cars, High School Musical
• Book: Sh*t My Dad Says by Justin Halpern
• Musician: Billy Joel and Queen (*The list is too long so these are honorable mentions*)
• Restaurant (City): Le Cellier Steakhouse (EPCOT in Disney World – Orlando)
• Food: Steak
• Sports Team: Montreal Canadiens
• City: The next one I visit!

Raquel Reyes

Project Developer

Give us a brief overview of your role.

As a Project Developer at GSI, my role essentially revolves around project execution. This includes everything from working with GIS and land acquisition for project origination, to working with environmental consultants, engineers, and real-estate consultants in order to reach project NTP (notice to proceed). The final stage involves handing it over to the engineering, procurement, and construction (EPC) contractor which would then turn to obtaining building permits.

What is the most memorable moment you have had working for GSI?

I’ve always enjoyed the annual Christmas dinners with GSI. Since everyone works remote and we’re located in different locations, it’s nice to come together and see everybody face to face at these events. It is also a great opportunity to interact with other individuals in different departments of the organization that you don’t interact with all the time.

What led you to pursue a career in Project Development in the renewable energy sector?

I began in 2019 as a Cooperative Education student for Saturn Power. I applied to 35 jobs, and only had one interview – so I kept saying “one interview, one job” and that ended up being this job! At the time, I wanted to be a conservationist or an environmental consultant, so I thought a job in the renewables would be a great opportunity to get started and for networking. I began in project coordination and ended up enjoying problem solving for project development. As a consultant, you only see one piece of the project, but as a project manager or a project developer, I get to see the whole picture.

Tell us one interesting fact about yourself that your colleagues might not know.

During my entire time at university, I was a member of the Cuban salsa club. I was actually a salsa instructor for level one and level two students, and I was the President at one point. I made choreographies and even had the opportunity to choreograph a cultural caravan performance at the University of Waterloo. I still really enjoy dancing to this day!

How do you spend your time outside of work?

Outside of work, I like to spend time with my 3-year-old son, Isaac. He is my everything. Outside of parenting, I like to read, paint, sketch, draw, and touch up on my art skills. I also still enjoy dancing at home whenever I can.

What is one thing you’d like to cross off your bucket list?

I would love to go whale watching in British Columbia in the immediate future. In the long term, I would love to do something significant in Nicaragua, where I am from, and help the environment while employing the local citizens of Nicaragua. One day I will mustard up the courage and become my own boss.

Rapid Fire Favorites

• Movie: Prince of Egypt or Shrek 1 (in Spanish)
• Book: Crime and Punishment by Fyodor Dostoevsky
• Musician: Esteman or Kali Uchis
• Restaurant (City): The Guanaquita Restaurant (Kitchener)
• Food: Carne Asada (traditional Nicaraguan meal)
• Sports Team: Real Madrid
• City: Cancun, Mexico

Jan LaFave

Senior Accountant and Human Resources

Give us a brief overview of your role.

As Senior Accountant and Human Resources for L’Anse Warden Electric Company (LWEC) under GSI, I am responsible for the day-to-day accounting tasks. I also assist with the month end, and annual audits for GSI. Lastly, I work with anything HR related for LWEC, including payroll, benefits, and onboarding.

What is the most memorable moment you have had working for GSI?

Every year, LWEC gives out a scholarship to a local high school student who will be attending college in an engineering-related field or attending a trade school. It is always something that has been memorable for me. It is really gratifying when the student receives their scholarship, and you see them excited about their future and you feel like you are helping them to achieve their goals.

What led you to pursue a career in Accounting and Human Resources, and more specifically in the energy sector?

After college, I took some accounting courses on the side and then I did some accounting work as a civilian for the United States Air Force. After that, I moved away from where I was living, and this job opened up at the very beginning of the COVID-19 pandemic. I had enjoyed working in accounting and the classes I took so this gave me the opportunity to get back into it. LWEC is located in a very rural area, so jobs of this caliber aren’t exactly something you find every day. I just took the chance and went for it and that it was in the energy sector has been a bonus.

Tell us one interesting fact about yourself that your colleagues might not know.

Prior to working here, I taught middle school and high school math, and I was also a middle school basketball coach. I actually got to teach and coach three of my own children as part of that experience!

How do you spend your time outside of work?

In my free time, I enjoy spending time with my family. We have five kids which are all involved, so we’re attending sporting events both for our kids and others. We enjoy time at the lake and boating in the summer and we like to go snow shoeing in the winter. I also really enjoy reading when I can.

What is one thing you’d like to cross off your bucket list?

One thing I’d like to cross off my bucket list is to tour Italy. I would like to spend a month or so there and tour the different parts of the country. My heritage is Italian, and one set of my grandparents came from Northern Italy and one set came from Sicily, so I’d love to spend some time in those two regions.

Rapid Fire Favorites

• Movie: Pretty Woman
• Musician: Garth Brooks
• Restaurant (City): Bowdie’s Chophouse or Rose’s (East Grand Rapids)
• Food: Any Italian Food – especially homemade Ravioli
• Sports Team: Michigan Tech Hockey
• City: Grand Rapids

Waqas Ali

Assistant Manager of Operations and Maintenance

Give us a brief overview of your role.

As Assistant Manager of Operations and Maintenance (O&M), I oversee the continuous monitoring of our solar plant performance. My responsibilities extend to analyzing performance data for trends and inefficiencies, implementing preventive maintenance schedules, and managing repairs for equipment failures. I diagnose technical problems, collaborate with O&M contractor technicians and engineers for timely resolutions, and implement strategies to enhance plant efficiency. Additionally, I meticulously monitor the O&M budget, ensuring cost-effective operations while maintaining optimal performance levels.

What is the most memorable moment you have had working for GSI?

One of the most memorable moments I’ve had working at GSI was when I received a delightful fruit basket to celebrate my Canadian citizenship. It was a heartwarming gesture that truly showcased GSI’s commitment to recognizing and celebrating significant milestones in their employees’ lives. Such thoughtful gestures not only highlight GSI’s appreciation for their staff but also foster a strong sense of belonging and camaraderie within the workplace.

What led you to pursue a career in project Operations and Maintenance, and more specifically in the renewables sector?

My interest in O&M in the renewables sector began with a strong passion for environmental sustainability. While studying Industrial Engineering & Management in Pakistan, I became fascinated by the potential of renewable energy technologies to combat climate change and offer sustainable power solutions. My first role in Canada was at Grasshopper Energy, working as a field service specialist, specializing in solar fields. The practical experience I gained in troubleshooting and maintaining solar installations was extremely fulfilling, confirming my passion for this field. Joining GSI and working in O&M enables me to merge my technical skills with a desire to effect positive change and create a lasting impact in the world.

Tell us one interesting fact about yourself that your colleagues might not know.

One interesting fact about myself that my colleagues might not know is that I’m a self-taught mechanic. From changing the oil and swapping out filters to diagnosing and fixing small issues, I find real joy in keeping my vehicle running smoothly. Not only does this approach save me money, but it also helps me learn new skills and gain a deeper understanding of how cars work.

How do you spend your time outside of work?

Balancing life with my 1-and-a-half-year-old daughter keeps me occupied, so my current hobby revolves around spending time outdoors with her, hiking and biking. It is precious time spent bonding and making memories. Gardening has also become a passion of mine; there’s something incredibly satisfying about growing your own plants and vegetables. I also enjoy spending quality time with family and friends, whether we’re having a barbecue in the backyard or exploring new places.

What is one thing you’d like to cross off your bucket list?

Visiting the pyramids in Egypt, particularly the Pyramids of Giza, is a bucket-list experience with their historical, cultural, and architectural significance. The precision and scale of the pyramids’ construction are astounding to me, given the tools and technology available at the time.

Rapid Fire Favorites

• Movie: Divergent
• Musician: Atif Aslam
• Restaurant (City): Royal Ice & Spice (Karachi)
• Food: Biryani
• Sports Team: Pakistan Cricket Team
• City: Makkah (Saudia)

Niel D’Souza

Junior Project Engineer

Give us a brief overview of your role.

I joined the GSI team three years ago as a Junior Project Engineer. My primary responsibility is designing solar projects, which involves detailed PVSyst analysis, reviewing site layouts, and sizing electrical components. I also manage interconnection applications for different states and work closely with various utilities. In my early years, I was part of the O&M team and played a role in overseeing the ongoing operations of our storage and solar projects.

What is the most memorable moment you have had working for GSI?

The company arranged an in-person team-building event, marking the first time that most of the team gathered in the same location since the beginning of the pandemic. Prior to this, we had only interacted through Teams video calls. Many colleagues were surprised by my height since they had only seen my portrait on Teams call and were amazed to discover how tall I am. I’m not sure if I appear shorter on Teams call.

What led you to a career in engineering, and more specifically in the renewables sector?

Becoming an engineer was always my dream, so I pursued a bachelor’s degree in mechanical engineering. After graduating, I landed my first job in the petrochemical industry in Saudi Arabia, where I worked for over two years. During this time, I discovered my passion for making a positive impact on the environment and decided to shift my focus. To pursue this interest, I moved to Canada and started my studies in renewable energy.

Fortunately, my college professor, David Windley, who also served as Director of Engineering, played a crucial role in my career. I was offered a 6-month contract position, which later evolved into a full-time role.

Tell us one interesting fact about yourself that your colleagues might not know.

One interesting fact about me that my colleagues might not know is that I am multilingual. I can speak five languages, namely English, Hindi, Kannada, Konkani, and Tulu. What makes it unique is that out of these five, three have distinct scripts, allowing me not only to speak but also to read and write in these languages. I have plans to expand my linguistic skills by learning two more languages in the coming years.

How do you spend your time outside of work?

Outside of work, I really enjoy hanging out with friends and family. Watching TV series and movies is one of my favorite ways to relax. When the weather is nice, I also like to spend time in the garden and explore trails during the summer.

What is one thing you’d like to cross off your bucket list?

I’m eager to try Bungee Jumping in Whistler, BC. This fall, my wife and I had our first canoeing adventure at Canoe Lake in Algonquin Park. The weather was lovely when we began, but within 10 minutes, it took a dramatic turn. Despite our efforts to paddle to shore, the wind kept pushing us back. After 15 minutes of panic and fear, we finally reached the shore. I don’t think I’ll be going canoeing again.

Rapid Fire Favorites

• Movie: The Lord of the Rings
• Musician: Queen
• Restaurant: Mandi Afandi (Mississauga)
• Food: Pork Bafat (traditional)
• City: Mangalore, India

Yasemin Celik

Senior Accountant

Give us a brief overview of your role.

I became part of the GSI team a year and a half ago as a Senior Accountant. My role requires the timely and accurate input of information, which is presented to the management team to assist with strategic financial planning. I deal with many aspects of the business such as the financial statements, accounts payable, accounts receivable, employee expenses, and purchase orders. GSI’s philosophy of clean energy and sustainable living has changed the way I look at my job and made it much more meaningful.

What is the most memorable moment you have had working for GSI?

I live in Toronto, so I rarely go into the office, but every visit is a treasured memory for me. Among the many visits, the team-building event we organized last September is the most memorable. It gave me the opportunity to meet many colleagues with whom I had never crossed paths before. Together we worked on various projects, developed a strong sense of teamwork, and demonstrated the power of collective effort. It was a reminder of how joyful and enlightening it can be to embrace diversity, as it opens up new perspectives.

What led you to a career in finance and investment, and more specifically in the renewables sector?

Actually, accounting was not my first choice. I would have preferred to work in human or animal health, or any field related to nature, but life took such a path that I found myself in this field. I really liked the logic and order in accounting, and it was my favorite subject as a student. I decided to pursue an accounting career during my university days and through internships. Knowing that our work helps the world and future generations feel like an added bonus. Doing what you like and feeling spiritually fulfilled is the best feeling ever, isn’t it?

Tell us one interesting fact about yourself that your colleagues might not know.

I enjoy working with my hands, whether it’s embroidering, knitting, or getting into the soil while gardening. When spring arrives, my friend Maria and I organize her garden. We plant flowers and vegetables together, and in the fall, we tidy up the garden, which for me is a relaxing and enjoyable meditative activity. Being in nature, feeling the earth with my bare hands and feet, gives me a unique and special joy.

How do you spend your time outside of work?

I live in downtown Toronto where there’s always something to do or an event to go to nearby. I enjoy exploring new places and trying different foods with friends, but I also like spending time alone at home. It’s great to go to different worlds with books or learn about a new topic, watch a good movie, meditate, or sometimes just listen to yourself in silence.

What is one thing you’d like to cross off your bucket list?

I want to travel the world. I am very interested in exploring different cultures, beliefs, lifestyles, and various natural wonders. Every new thing I learn and every experience I have changes me, helps me grow, and broadens my perspective on life. When we combine the knowledge we gain from our hometown with the different perspectives of other places, a whole new view emerges. This is why I love Toronto; it is easy to find people from all nationalities and cultures here.

What is a personal accomplishment that you are proud of?

I came to Canada without speaking English or knowing anyone and started a new life on my own. I can’t say it was easy, but it has truly helped me to grow and develop immensely. When I reflect on my journey over the last 6.5 years, I feel a sense of accomplishment in how far I have come.

Rapid Fire Favorites

• Movie: Avatar
• Musician: Sezen Aksu and Passenger
• Restaurant: my friend Maria’s home 😊
• Food: Homemade pasta and homemade pizza
• City: Barcelona, Spain

Joseph Sacks

Chief Financial Officer

Give us a brief overview of your role.

I am the Chief Financial Officer for GSI. I’m responsible for all financing and investing activities for the team as well as helping to shape and drive the overall strategy and direction of the company. We have many different initiatives that we’re working through, but my main aim everyday is to make sure that I’m helping to support GSI’s mission and strategy, and that we have the capital and financing in place to build successful projects.

What is the most memorable moment you have had working for GSI?

I would say the acquisition of Saturn Power. That was definitely a game changer for everybody both on the Saturn side and the GSI side. We went from a team of a handful of individuals to 40 plus people. It was a very memorable process and a wonderful initiative, and I was proud to be a part of it.

What led you to a career in finance and investment, and more specifically in the renewables sector?

I studied political science and economics in college, and I think I took one corporate finance class. I was a good math student, but not a particularly special one. The honest answer was I needed to find a job that would enable me to start paying back my student loans and support living in New York City. Finding a job on Wall Street in finance was the easiest path to that. I didn’t grow up wanting to be a banker or CFO. There were some practical reasons that I went down the finance path to be completely honest.

In terms of renewables and infrastructure, I really enjoy being able to finance and work on things that you can touch and feel, as opposed to being a bond trader or an investment banker. I’m very happy to be focused on things that are going to be producing and adding value for many, many years because our projects are long-lived. I believe that we’re going to need more energy, not less, for my generation and future generations, and if we can do that in a sustainable and clean way, then I’m glad to be a part of that overall effort.

Tell us one interesting fact about yourself that your colleagues might not know.

I enjoy reading comic books. I’ve always been a big fan of collecting comics and cards, which I don’t tell a lot of people. I have a stack of comic books and graphic novels by my bed – reading them at night is often how I get to sleep. Recently, although I’ve never watched The Walking Dead, I’ve been reading the comics.

How do you spend your time outside of work?

I spend a tremendous amount of time with my family. There’s three of us – me, my wife, and my son, who’ll be 11 in November. We really are a unit because there’s only three of us and do everything together. I spent a lot of time coaching my son’s baseball teams, as some of the GSI folks know, so that’s quite a bit of my free time.

I also do some volunteer work. I’m on the board of the local Little League and on the Alumni Executive Committee for my college. I’m a bit of an exercise junkie as some of the GSI folks also know. I wake up at 5 pretty much every morning to get my workouts in. I don’t have a ton of a social life outside of work and my family, but my family is my life, so I spend every moment with them that I can.

What is one thing you’d like to cross off your bucket list?

I have a lot of things I’d like to cross off my bucket list, but I would say a near-term item I have is bringing my family to Spain, and I’m hoping to do that next year. We’re planning to go in March. It’s funny that my wife and I have both been individually, but we’ve never been together, nor our son, so I really am looking forward to us going as a family.

What is a personal accomplishment that you are proud of?

A personal accomplishment for me is watching my son grow up and learning to become his own person. I find that to be extremely gratifying and rewarding every day. To have a child that’s, to this point, been completely dependent on you, and now, turning around, and asking you on a Friday afternoon: “Hey, Dad, can I go out with my friends to the outdoor shopping mall?” is really something else! At first, I felt like I wasn’t ready for that, but now that he’s in fifth grade, I take a lot of pride in him becoming an independent and kind human being.

Rapid Fire Favorites

• Movie: The Usual Suspects
• Musician: Billy Joel or John Mayer (just saw John Mayer for the second time this month!)
• Restaurant: The Blue Water Grill in Union Square, NYC (it’s closed now but will forever be my favorite place to eat!)
• Food: Any kind of pizza (except Hawaiian style…sorry to those Hawaiian pizza lovers!)
• Sports Team: New York Mets and the New York Rangers (too hard to choose one!)
• City: New York City & London, England

David Brattan

Director of Legal Affairs

Give us a brief overview of your role.

My primary focus at GSI is providing the organization with legal expertise and support throughout multiple complex phases of the business. GSI’s legal team negotiates a variety of agreements for an array of industry and project specific requirements. It also deals with construction and warranty-related legal matters.

What is the most memorable moment you have had working for GSI?

I started with the company three weeks before the pandemic and sat beside one of our project developers that worked heavily on the site selection process. This helped provide me with a wealth of knowledge on the industry and the organization in a very truncated timeframe, and helped to set me up for what has unfolded over the past 3 plus years. The primer that I received on site selection is something that I think will be permanently etched in my brain until I’m on my deathbed.

What led you to a career in asset management, and more specifically in the renewables sector?

My legal path is a bit odd; I got my law degree in 1992 however I didn’t get called to the bar until 2015, which is about 22 years later than most people would have done it. I was doing other work when I was approached by a lawyer I knew, who offered to take me on as a “mature” articling student. So I had planned to be a lawyer, changed my mind, and then was persuaded back because of an invitation from a lawyer I knew.

For renewable energy, my past life was in large scale public infrastructure, working with highways, airports, and courthouses. Big government capital projects are commercially and legally structured similarly to renewable energy projects, so I had a transferable skill set. Additionally, for half a decade I was the developer of a green energy project on the Toronto waterfront, which worked to use conventional energy sources more efficiently.

Tell us one interesting fact about yourself that your colleagues might not know.

When I was in Toronto, I was doing a lot of courses in acting, film production, and screen writing, so I know some people in the industry. I was acquainted with a former police officer suffering with PTSD, and a documentary director. I managed to bring the two together so that they could address this important issue through a documentary on PTSD. As a result, I actually have one credit in the film industry which is special to me.

How do you relax outside of work?

My primary focus outside of work is spending time with my wife, Natalia, and my daughter, Jessica, who’s 7 years old. A lot of people from the company know Jessica well as she was a frequent special guest during virtual meetings throughout the pandemic.

What is one thing you’d like to cross off your bucket list?

I would like to visit Dubai someday.

What is a personal accomplishment that you are proud of?

Most of my career occurred in downtown Toronto, so it was a leap of faith when I left the city without a job. However, I ended up obtaining two jobs in the legal industry in Kitchener-Waterloo. I consider it a great personal accomplishment that I was able to take a risk and have since advanced my career in a smaller center, as I wasn’t sure of the type of legal work that would be available to me outside of Toronto.

Rapid Fire Favourites

• Movie: Pulp Fiction.
• Musician: Led Zeppelin.
• Restaurant: Daily Grill (Waterloo)
• Food: Diner food
• City: Paris, France

Libra Group subsidiary acquires 1.4 GW pipeline of solar and energy storage projects and adds team of seasoned Canadian developers, increasing GSI’s presence to 12 U.S. states and Canada

[April 12, 2023, New York, New York] — Greenwood Sustainable Infrastructure (GSI), the North American renewable energy subsidiary of Libra Group, has announced the strategic acquisition of the solar and battery development portfolios of Saturn Power, including its team of seasoned developers and an approximate 1.4-gigawatt (GW) pipeline of early to late-stage solar and energy storage projects in 5 U.S. states and two Canadian provinces.

Harnessing the expertise of Saturn Power, a leading developer and operator of renewable energy projects and leader in the emerging battery storage market, the deal allows GSI to substantially bolster its development capabilities, building on over a decade of experience investing, developing, and overseeing the operations of clean energy projects. It also expands GSI’s footprint from 7 to 12 U.S. states, which will now include New York, Massachusetts, Vermont, Florida, Minnesota, Michigan, Colorado, Illinois, New Mexico, Pennsylvania, Virginia, and Washington, as well as Alberta and Saskatchewan in Canada.

“We are delighted to welcome members of Saturn Power’s expert team to help us develop a stronger renewable energy business capable of transforming communities at pace and at scale,” said Chief Executive Officer of GSI Mazen Turk. “With this acquisition, the integration of both management teams will dramatically increase our capabilities in developing efficient, effective, and essential renewable energy projects nationwide. This also represents the next step in our strategic goal to grow our pipeline to the 5 GW mark of clean power by 2029.”

The acquired pipeline includes 72 solar projects, 90% community solar projects, and six battery storage projects. The deal also adds skilled energy developers, engineers, and senior leaders, bringing GSI’s total headcount to more than 50 employees. GSI plans to direct $200 million of capital investment to bolster its North American operations, including building the acquired pipeline in the coming years.

Community solar projects are designed to democratize the availability of solar power generating capacity among individuals and businesses that have had restricted access to solar energy sources. In 2022, the U.S. Administration announced an initiative to bring community solar to the U.S. as part of the $1.2 trillion Bipartisan Infrastructure Law. GSI’s expertise in managing diverse solar projects in different settings will be put to good use with the new community solar portfolio.

“When we founded Saturn Power 16 years ago, our mission was to build an organization that focused on developing a sustainable environment for future generations through the advancement of clean, renewable energy” said Doug Wagner, Co-Founder, President and CEO of Saturn Power. “I am immensely proud of what we have accomplished and am both honored and excited that Saturn will be joining GSI, where we can leverage the experience and expertise of our dedicated team, helping to scale the business to provide more communities with access to renewable energy. By merging our respective teams, we will enhance our development, engineering, and construction capabilities, providing a platform for further growth in the years ahead.”

GSI is one of four renewable energy subsidiaries of Libra Group, which include a presence in North America, Central America, and Europe. This acquisition takes the overall renewable energy portfolio of Libra Group to 3 GW of projects owned, developed, or pending development in eight countries.

Manos Kouligkas, Chief Executive Officer of Libra Group, stated, “This acquisition is significant, not just for its scale, but for the signal it sends that renewable energy projects continue to be sound financial investments with strong returns and multiple economic, social, and environmental benefits.” He continued, “The opportunities provided by community solar projects will not only help the U.S. to achieve its carbon reduction commitments, but will create essential new jobs to serve the green economy. With assets and a pipeline of projects, GSI is positioned to be one of the leading privately owned renewable platforms in the United States.”

About Greenwood Sustainable Infrastructure

Greenwood Sustainable Infrastructure (GSI) (www.greenwoodinfra.com) is one of the clean energy subsidiaries of Libra Group. GSI is a renewable energy company focused on the development, construction and operation of distributed generation and utility-scale solar energy and battery storage projects in North America. As of March 2023, the company developed approximately 178 MW across 43 renewable energy projects, many of which are still owned or operated by GSI, and has an additional project pipeline of 1.6 GW. GSI’s seasoned team also has a proven track-record investing in power assets and partnering with multiple top-tiered investors.    

About Libra Group

Libra Group (www.libra.com) is a privately owned, global business group that encompasses 30 operating entities: 20 businesses predominately focused on aviation, renewable energy, maritime, real estate, hospitality, and diversified investments, and 10 social initiatives. With assets and operations in nearly 60 countries, the Group applies the strength of its global network and capabilities to deliver cross-sector insights and growth at scale, while mitigating risk. Today, Libra’s Social Responsibility Programs include 10 social initiatives created to address unmet needs and grantmaking that helps people worldwide.

The International Renewable Energy Agency (IRENA) released a preview of its World Energy Transitions Outlook for 2023.

In this preview report, they share the vision for the transition of the energy landscape required to meet the Paris Agreement’s goal: keeping global warming under a 2°C increase and bringing CO2 emissions to net zero by mid-century. They report that investments in clean energy will need to accelerate radically to reach this as the energy transition is off-track, with current trends in energy generation falling well short of IRENA’s 1.5°C pathway, resulting in a projected emissions gap of 16 gigatonnes (Gt) in 2050.

Although global investment across all energy transition technologies reached a record high in 2022, annual investment has to more than quadruple to remain on the 1.5°C pathway, and to stay on track, they project global solar PV additions will need to increase from 191 GW per year to 551 GW per year.

IRENA predicts that by 2050, most of the world’s power will be generated from renewable sources. Greenwood Sustainable Infrastructure (GSI) is proud to play its part in the transition.

Read the full article here: https://www.irena.org/Publications/2023/Mar/World-Energy-Transitions-Outlook-2023