Sol Systems announced the addition of David Vickerman as Chief Financial Officer. Vickerman brings decades of executive and energy-industry experience to the Sol Systems team and will be focused on corporate and structured finance and development. Sol Systems is currently developing over 2 GW of new solar projects worth over $1 billion across the U.S.
Vickerman joins Sol Systems amid a generational shift toward renewable energy in the U.S. Although supply-chain delays and other logistical challenges persist, the solar industry is rapidly growing and is currently valued at over $33.1 billion. The renewable energy industry accounts for over 40 percent of the total U.S. energy job market, outpacing all other energy sectors, according to data published by the U.S Department of Energy.
"We're proud to have a veteran like David help lead and build Sol," said Yuri Horwitz, Sol Systems' Chief Executive Officer. "His experience and expertise will fuel the continued expansion of our work driving a more sustainable future."
Vickerman most recently served as a Managing Director for Macquarie Capital, a global investment bank. Prior to this role, Vickerman spent six years as Vice Chairman and Chief Operating Officer at Silicon Ranch Corporation, a US Solar IPP backed by Shell and Manulife Investment Management/John Hancock. Over his tenure at SRC, David also spent time, as Chief Corporate Development Officer, responsible for corporate finance, project finance, project development, EPC delivery and asset management.
Under Vickerman's leadership, Silicon Ranch completed an institutional equity investment exceeding $140 million into the company by Partners Group, executed a subsequent equity transaction with Shell, and closed over $1.5 billion in solar project finance transactions. While Vickerman was at Silicon Ranch, the company grew its portfolio from 50 MW in operating solar assets to over 2.2 GW in operating and contracted solar assets.
Prior to his time at Silicon Ranch, David held senior positions at TD Greystone and other private financial firms. Vickerman holds a BSc in Mathematics from Western University in Ontario and an MBA from Wake Forest University, where he currently serves on the business school's board of directors. Additionally, David completed the Rotman School's Institute of Corporate Director's Program at the University of Toronto.