energyRe Names Miguel Prado Chief Executive Officer and Ryan Brown Chief Operating Officer

Pioneers of Renewable Energy,Miguel Prado and Ryan Brown to lead energyRe's national mission to develop and invest in renewable energy assets that bring clean energy solutions directly to American cities and communities

energyRe announces seasoned executive team from Related Companies to continue to lead development of Clean Path NY alongside partners Invenergy and NYPA

NEW YORK,Dec. 2,2021 --energyRe,a mission driven developer of large-scale,100% renewable clean energy solutions,today announced that industry leaders Miguel Prado and Ryan Brown have been named CEO and COO,respectively. Mr. Prado previously led EDP Renewables North America as CEO where Mr. Brown served as Executive Vice President. The pair joins energyRe to lead the company's mission to make reliable,clean energy available to all Americans by developing large-scale generation,transmission and innovative renewable solutions that will bring green energy directly to American cities and communities. energyRe is driven by the need to be responsive right now to the existential threat of climate change and is an American leader in the transition of how our world is powered.

The national team joins energyRe following the company's selection as the co-developer of Clean Path New York,an $11 billion clean energy infrastructure project that will fundamentally change the way New York is powered. energyRe's national platform is uniquely positioned to build off the success of the Clean Path NY project. Clean Path NY was selected by the New York State Energy Research and Development Authority (NYSERDA) to build a 175 mile state-of-art transmission line and 3,800 MW of new solar and wind generation that will deliver more than 7 million megawatt-hours (MWh) of emissions-free energy annually downstate and into New York City. Clean Path NY announced Tuesday the signing of a contract with NYSERDA and the submission of the project to the New York State Public Service Commission.

"The key to our clean energy future is connecting the disparate pieces of the green energy industry and delivering reliable clean energy directly to our urban centers and communities. By focusing on our mission,we can lead the global clean energy revolution—fighting climate change while creating jobs and economic opportunities across the country," said Jeff T. Blau,Chairman and Founding Partner of energyRe. "Miguel and Ryan are leaders in expanding renewable energy across the U.S.,and now at the helm of a future-forward,all American,all renewable clean energy company they are positioned to drive the next wave of growth as the U.S. looks toward a fully renewable energy supply."

"The U.S. is the land of opportunity for renewable energy. As the largest and most dynamic market for clean energy in the world,the growth potential is endless," said Miguel Prado,CEO of energyRe. "I am proud to lead a mission-driven clean energy company founded on the principal that we do well when we do what is right for our communities,igniting job creation and leaving future generations of Americans with more reliable and resilient energy grids and cleaner cities."

Mr. Prado will oversee the management and expansion of the Company's portfolio of assets to meet the growing demand for renewable energy solutions with domestic sources that create economic and community benefits in American cities. Mr. Brown will spearhead development of renewable generation and clean energy transmission assets with a focus on environmental justice communities nationwide.

Ryan Brown noted that energyRe's combination of emerging renewable technologies with transmission solutions will enable the U.S. to address some of its most pressing energy challenges.

"energyRe's intrinsic diversification of energy generation assets makes it one of the first energy companies to offer a 24/7 supply of reliable and responsible renewable energy in both urban and rural areas across the country," said Ryan Brown,COO of energyRe. "I look forward to growing the energyRe team to develop assets that help the U.S. achieve its ambitious climate goals while also creating jobs and economically advantageous energy solutions for Americans."

Mr. Prado joins energyRe from EDP Renewables,a global leader in the renewable energy sector and the world's fourth largest producer of wind energy,where he most recently served in the Executive Committee as CEO of North America and Chief Procurement Officer of the Group. Under his leadership,EDPR NA tripled its growth and solidified its market leading position. Mr. Prado was a key driver of the company's growth to the 4th largest wind generation company in the world. Mr. Prado managed EDPR's 1,000 U.S. based employees,and oversaw the company's 8.8 GWs of renewable projects in operation. In his 19-year tenure with EDP renewables,Mr. Prado also held the title of Global Head of Investments,Mergers and Acquisitions investing more than $18B in organic projects and strategic acquisitions in 14 different countries. Mr. Prado holds PhD in Business and Management from the University of Oviedo and Bradford,UK and an Executive MBA from Instituto de Empresa,Madrid,Spain.

Mr. Brown,also joins energyRe from EDP Renewables where he previously served as Executive Vice President of EDP Renewables North America (EDPR NA) for the Eastern U.S.,Mexico,and Canada. In that role,Ryan led the company's business in eastern MISO,PJM,NYISO,ISO-NE,the southeast,and Canada,as well as oversaw Government & Regulatory Affairs for the platform. He was also a member of EDPR NA's seven-person Executive Team and a board member of Mayflower Wind,a Shell and Ocean Winds offshore wind farm joint venture.

Ryan led a team that successfully developed 33 wind and solar projects totaling nearly 4,300 megawatts (MW) in operation or under construction. Prior to joining EDPR NA,then Horizon Wind Energy,in 2008,Ryan worked in the Office of Energy Development (OED) for the State of Indiana,where he managed Indiana's Governor-designated state energy office. Ryan also has previous work experience in investment banking as well as in the non-profit sector in Mexico and Ecuador.

Ryan received a Bachelor of Arts in Economics from the University of Chicago in 2001 and has completed executive education courses at the University of Chicago and Rice University in Houston.

Clean Path New York

energyRe is the developer of Clean Path New York,which will fundamentally change the way New York City is powered and help achieve New York State's nation-leading clean energy goals. This $11B clean energy infrastructure project will deliver renewable energy generated entirely in Upstate New York directly to New York City embodying energyRe's mission to ensure everyone has access to the clean energy they need.

energyRe announced today that a team of executives from Related Companies was appointed to manage Clean Path New York. The team is led by Glenn Goldstein,along with Luke Falk and Frank Norcross.

"We have a very ambitious vision for energyRe and now we have the world-class team to fulfill its promise. Glenn,Luke and Frank have done an incredible job spearheading CleanPath NY,and alongside Miguel and Ryan,will build a fantastic culture which will be a magnet for talent in the sector," said Kenneth Wong,Founding Partner of energyRe.

The new appointments will oversee all development and execution activities for Clean Path New York,which was selected by New York State to deliver almost 7.9 million megawatt-hours (MWh) of emissions-free energy annually downstate and into New York City. Generating over 3,800 MWs of new solar and wind power in New York State,the project will reduce fossil fuel generation by 22% statewide every year. Developed with environmental justice at its core,Clean Path New York will significantly reduce criteria air pollutants emitted from electric generation sources and avoid significant social and public health costs,with a significant share of these benefits accruing to frontline communities statewide. Clean Path New York will develop a $270 million investment fund to support workforce development and education programs,health services and efficiency and electrification retrofits.

Glenn A. Goldstein will oversee the Clean Path New York project for energyRe. In addition to his role at energyRe,Glenn is President of Related Retail where he was instrumental in the development of the 650,000-leasable-sq. ft. Shops & Restaurants at Hudson Yards,one of the most sustainable,connected and forward-thinking urban neighborhoods in the country. Mr. Goldstein also led the development of several large-scale retail destinations including the sustainability-leading Gateway Center that contains over 1.2M sq. ft. of retail. The facility hosts 750 kW of rooftop solar panels,and a 4.8 MW/16.4 MWh battery,built in partnership with Enel X,which improves network reliability and contributes to New York City's plans to deploy 3 GW of energy storage by 2030 in East New York,Brooklyn. Mr. Goldstein joined Related in 1994 as Assistant General Counsel,after having served as an associate in the real estate practice group of the law firm Shearman & Sterling. Mr. Goldstein received a Bachelor of Arts degree from Brandeis University and a Juris Doctor degree from St. John's University School of Law.

Luke Falk will direct Clean Path New York's new development projects for energyRe including renewable generation,transmission,and energy management services. Mr. Falk is also Vice President at Related Companies were he is responsible for the energy and overall sustainability performance for all of Related's development projects worldwide. He led the development of several large-scale clean energy generation projects for Related including cogeneration plants,building-mounted and large-scale PV,and the largest energy storage system in New York City. He also led the energy and sustainability program of over a dozen LEED-certified buildings representing +10B in capital investment,including the largest Passive House-certified building in the world on Roosevelt Island for Cornell Tech. Prior to joining Related,Mr. Falk was a Senior Project Manager for the New York State Energy Research and Development Authority (NYSERDA). He has also served as an adjunct member of the faculty of Columbia University's graduate-level Sustainability Management program and The Cooper Union's School of Continuing Education. He holds a Master of Urban Planning from New York University and a BA in English from The Colorado College.

Frank Norcross will lead engineering on behalf of Clean Path NY for energyRe. Frank Norcross is also a Vice President at Related Companies where he is responsible for energy management across Hudson Yards and oversees the development and operation of a 13MW cogeneration plant,which anchors a district energy system and microgrid providing resilient and efficient utility service to Hudson Yards. Prior to Related,he worked for both Bernhard Energy and Green Campus Partners (GCP) focused on the development of and investment in distributed generation and energy efficiency projects. He also worked as a Presidential Management Fellow at the US Department of Energy Efficiency and Renewable Energy (Office of Weatherization and Intergovernmental Program) administering Recovery Act grants to state and local governments pursuing energy efficiency and renewable energy projects in their jurisdictions. Mr. Norcross served as an officer in the United States Navy in the submarine warfare community. He holds a Bachelor of Science in Systems Engineering from the United States Naval Academy and a Master in Public Affairs with a concentration in Economics and Public Policy from the School of Public and International Affairs at Princeton University.

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Jon Weinstein