Floating offshore wind platform developer Gazelle Wind Power has appointed Alvaro Ortega as its new chief financial officer.
Ortega is the former vice-president of finance at Avangrid, the US subsidiary of Iberdrola.
There, Ortega managed investor relations and treasury for the company, which currently has a market capitalisation of around $12.1bn.
Before that, Ortega served as chief financial officer of Vineyard Wind, where he played a central role in achieving the financial close and commencement of construction for the first commercial-scale offshore wind farm in the United States, the 800MW Vineyard Wind 1.
“Finding someone with a track record like Alvaro’s is rare. Due to his financial expertise and passion for renewable energy, his joining the team is a home run for Gazelle as we enter an exciting phase in our company’s development,” said Gazelle chief executive and founder Jon Salazar.
“As the financier of one of the first commercial-scale offshore wind projects in the US, his impressive resume and commitment to clean energy development make him ideal for this position.”
Ortega added: “There were several factors that drew me to Gazelle, the first being Jon’s passion and the world-class Gazelle team. Moreover, I believe the company is positioned to lead the industry because its technology excels under the most extreme conditions while utilising fewer resources and less steel compared to its counterparts.
“Additionally, it offers a simpler assembly process and maintenance, which further enables the competitiveness and acceleration of offshore floating wind. This aligns with what the future of this industry demands.”