HOUSTON, Sept. 07, 2022 (GLOBE NEWSWIRE) -- Aggreko is accelerating its move into the energy transition with the creation of a new business unit, IPP Solutions, led by three clean energy industry veterans with over 60 years of combined experience.

The power market in the United States has proven to be an attractive one for renewable energy over the last decade, given its large size, aging conventional generation fleet, and sustained policy support for clean energy. With the recent passage of the Inflation Reduction Act, the decarbonization of the domestic power grid will accelerate through the law’s expected $369 billion allocation toward energy security and climate infrastructure, reinforced by sustained policy certainty over the next decade.

The goal of IPP Solutions is to target middle market opportunities in North America with a focus on developing, owning, and operating clean energy and sustainable infrastructure through long-term investment and partnerships.

The business unit will give Aggreko the ability to offer an end-to-end energy transition solution to customers from development, construction management, and financing through to asset management and operations.

Leading this new business unit will be Jerry Polacek, who will assume the role of President. Polacek will be joined by Matthew Ordway, serving as Chief Operating Officer, and Prashanth Prakash, as Chief Commercial Officer. Collectively, the team has a proven history of developing, constructing, originating, and managing value-added renewable energy infrastructure.

Blair Illingworth, CEO at Aggreko, stated, “The creation of the new division with Mr. Polacek and his team will enable Aggreko to meaningfully support the move towards decarbonizing the grid and enhancing energy security through a commitment of capital and organizational resources.”

Jerry Polacek, President of IPP Solutions, added, “The creation of a dedicated division focused on the energy transition with a substantial commitment of capital and resources will enable us to make a measurable impact on decarbonization for our customers and partners in North America. The timing of the IPP Solutions launch could not have been better with the recent passage of the U.S. Inflation Reduction Act, which provides an ideal policy environment for making long-term capital commitments. Together, we can offer an end-to-end solution for our partners by leveraging our expertise, reliable process, and flexible capital to accelerate the deployment of affordable, clean energy and sustainable infrastructure.”

About IPP Solutions

Independent Power Producer Solutions (IPP Solutions), a division of Aggreko Ltd., develops, owns, and operates utility scale and distributed solar and battery storage projects across the United States. IPP Solutions generates value by providing turnkey energy transition solutions to its customers that deliver affordable, reliable, and clean power. For more information, visit IPP Solutions.