Solek announces new CEO and positions itself as an Independent Power Producer (IPP)

By Solek
October 2024

This is a machine translation of the original release issued in Spanish.

Czech multinational Solek - one of the leading PMGD developers in Chile - announced its new CEO, Stephanie Crichton, along with the refocusing of its corporate strategy, strengthening its position as an Independent Power Producer (IPP) in the South American market.

The company is currently finalizing the first phase of its business plan with 600 MW under construction and is preparing for the next stage, which will include an additional 1 GW with construction projected to begin between 2025 and 2028. This process will focus on large-scale hybrid (solar/storage) and stand-alone Utility Scale projects.

“We are in a year of transition. We are completing the construction of around 90% of Phase 1, which corresponds to approximately 600 MW declared under construction by the National Electric Coordinator, where 45% of the portfolio was sold to third parties and with the remaining 55% we closed a financing that will allow us to operate the assets in the long term,” said the new CEO of Solek, Stephanie Crichton.

“In the second phase of our strategy, we will prioritize the development and operation of an additional 1,000 MW, with a focus on hybrid and stand-alone projects in Chile. Our goal is to add 200 MW annually to the pipeline of ready-to-build projects, aiming for sustained long-term expansion,” he said.

New CEO

Crichton has 17 years of experience leading projects in the renewable energy sector, standing out internationally in countries such as Argentina, Brazil, Panama, Nicaragua and El Salvador. In his roles, he has led the development, construction, financing and operation of assets, participating in the entire value chain of the projects.

Additionally, at Solek she led the positions of Head of Development and Chief Operating Officer. “I have been at Solek for more than five years, which has allowed me to have an in-depth knowledge of the company's dynamics since its inception. This knowledge has led me to base my management as CEO on two pillars: the team and the people, focusing on the consolidation of the company as an Energy Producer (IPP),” analyzed the senior executive of the Czech firm in Chile.

What is your view on women's leadership in the energy sector?

In my experience, both men and women can exercise excellent leadership, but there has clearly been less presence of women in these roles for historical reasons that we know have gradually changed. Precisely for this reason we see that today in the sector there are women actively contributing with key aspects, such as effective communication, listening skills and the use of intuition, among others. These aspects have traditionally been linked to the feminine, but they are part of the “completeness of the human factor”, so to speak. The business world and our life in general, increasingly rich in diverse elements and therefore more complex, demands to be addressed from this “completeness”.

What is the mark you want to leave with your management as the new CEO of the company?

My brand will focus on capitalizing on the vast experience of our team, which participates in the entire value chain of the business, managing and promoting the individual autonomy so necessary to face changes and maintain the speed of our operation. We have identified that the education of our leaders in matters of people management and leadership is essential. To this end, a few months ago we launched leadership and talent development programs that differentiate us from the industry and that are directed not only to our management positions, but also to those who are in the process of growth within the organization.