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First Wind Inc., an independent wind developer based in Newton, has promoted executive vice president Michael Alvarez to the position of president and chief operating officer. Alvarez takes the title of president from former president and current CEO Paul Gaynor.
In his expanded role, Alvarez will be responsible for corporate operations across the company’s territory and will lead the company’s finance, development, external resources and human resource functions.
Alvarez has been with First Wind since 2006. He previously worked at Edison International, a publicly traded energy distributor, and Nexant Inc., a privately held energy software provider based in California.
Originally founded as UPC Wind in 1995, First Wind has amassed a portfolio of wind projects across the country, including the Stetson and Mars Hill projects in Maine, and others in the Midwest and Hawaii. Earlier this month, the Stetson project near Danforth, Maine, received approval from the Maine Land Use Regulation Commission for an expansion that would add 17 turbines to the existing 38 turbines already in operation at the site.
Last August, First Wind filed documents with the U.S. Securities and Exchange Commission expressing its intent to execute a $450 million initial public offering, though no offering date or share price has been announced.
According to its filings, the company has set a goal of reaching approximately 1,100 megawatts of operating capacity by the end of 2010 and 2,300 megawatts by 2013.
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