Fort Lauderdale, Fla.-based FMC GlobalSat Holdings Inc., a provider of satellite communications solutions to the renewable energy industry, has appointed Edward M. Stern, president and CEO of PowerBridge LLC, an independent director of the board.
PowerBridge is a developer of non-utility, privately financed electric transmission systems in the U.S. The company has developed, financed and constructed more than 1.3 GW of transmission capacity with a total investment in excess of $1.5 billion.
“With his vast project development and management experience in transmission, hydropower, biomass, solar, and offshore and onshore wind projects, Ed Stern has a deep understanding of market, regulatory and communication requirements when it comes to the renewable energy sector,” says Emmanuel Cotrel, CEO of FMC GlobalSat. “We are confident he will provide valuable perspectives as we execute our strategy, drive profitability and enhance value for our shareholders.”
According to FMC GlobalSat, Stern has more than 30 years of experience leading the development, financing, construction, operation and ownership of major energy and infrastructure projects, including developing and building the Neptune Regional Transmission System, completed in 2007, and the Hudson Transmission Project, completed in 2013. Both projects were completed on budget and ahead of schedule.
From 1991 through 2004, Stern was employed by Enel North America Inc., the North American subsidiary of the Italian electric utility Enel SpA. There, Stern served as general counsel and, commencing in 1999, as president, director and CEO.
Stern currently serves on the boards of Deepwater Wind Holdings LLC, a developer of offshore wind projects, and CAN Capital Inc., a financial services company. He also serves on the advisory board of Starwood Energy Group Global LLC, a private equity firm specializing in energy and infrastructure investments.
