eSolar gears up for expansion, appoints CFO

eSolar, a producer of modular, scalable solar thermal power plants, has appointed Merrick Kerr as Chief Financial Officer (CFO).

In his new role, Kerr will oversee the financial and administrative functions of the company as it expands its presence across the southwest United States and globally.

Kerr joins the company following the closing of $130 million in funding from Idealab, Oak Investment Partners and, as well as a recently announced power purchase agreement (PPA) with Southern California Edison to produce 245 MW of solar thermal power.

"As eSolar continues its ambitious growth trajectory, the role of CFO will be imperative in guaranteeing that our strategic and financial planning promotes our market goals," said Asif Ansari, Chief Executive Officer of eSolar. "His addition enables us to secure a key management role that will help support eSolar's rapid expansion and bring our modular, scalable solar thermal power plants to market."

Kerr recently served as CFO of Rentech, Inc., a publicly traded company which specialises in the conversion of carbon-based materials into alternative fuels.

For his part, Kerr said, "Smart, concentrating solar thermal power is poised to make a significant impact on how utilities large and small across the sunniest parts of the United States generate power. As more and more energy providers look to integrate CSP into their portfolio, they are also looking for the companies that present the best technological solutions to the problems facing the industry."

Kerr added, "eSolar has addressed these concerns, with a design that overcomes the most pressing obstacles characterising larger renewable energy installations: rapid deployment, ease of scalability, lower price and lessened grid impact."