Pacific Hydro announces leadership changes
19 June 2018
Renewable energy company Pacific Hydro today announced the resignation of Chief Executive Officer, Mike Fuge. He has led the business since 2014 through the most significant period of growth in the company’s history.
Speaking to all staff this week, Mike said the reason for his resignation and acceptance of another role is to spend more time in New Zealand for both family reasons, and to help the local energy market and economy meet the challenge of decarbonisation. “It has been a matter of great personal pride to have achieved so much in my time at Pacific Hydro. Low-carbon, renewable energy is our future; and our team of professionals are the best in the industry. I want to pay tribute to our dedicated, passionate staff; our construction and finance partners; and our local communities,” he said.
During Mike’s tenure, he played a pivotal role in the successful conclusion of the sale process and the transition to ownership by State Power Investment Corporation in 2016. Construction of the Yaloak South, Punta Sierra, and Crowlands Wind projects are either completed or well underway; and new technology has been added into the portfolio, with a large-scale solar project now under construction at Haughton and further projects in advanced development. Pacific Hydro’s retail business in Australia, Tango Energy, was also launched and is growing rapidly from its new offices in Geelong.
After careful consideration by the Board to ensure a smooth transition, Pacific Hydro’s General Manager Australia Rachel Watson will assist during Mike’s notice period, and advance to Acting CEO on his departure.
Rachel joined Pacific Hydro in 2006 as a Corporate Lawyer before advancing to Executive Manager Legal, Executive Manager Finance and Legal, General Manager Group Services, and in 2017 was appointed General Manager Australia. Rachel is also Chair of the Clean Energy Council. With over 20 years’ experience in renewables, management, commerce, and law, she has a BA/LLB (Hons) from the University of Melbourne and an MBA from Melbourne Business School.
Founded in Australia in 1992, Pacific Hydro is a global renewable energy owner, operator and developer. It operates a high quality, diversified portfolio with an installed capacity of over 880 MW across Chile, Australia, and Brazil; has more than 260MW under construction; and is also developing a substantial number of projects totalling over 2 GW of potential capacity. Pacific Hydro is fully owned by State Power Investment Corporation of China (SPIC).
Media contact: Adam Chandler – Australia Freecall 1800 730 734 / +61 3 8621 6440