PRESS RELEASE

Activate Renewables Names President
and Announces Initial Acquisitions

November 4, 2021

(Press Release) Activate Renewables, a leading acquirer of real estate and royalty interests in wind, solar and energy storage, today announced that renewable industry veteran Maria Klutey has joined the company as president.

Ms. Klutey has extensive experience in the renewable energy industry. After serving six years active duty in the U.S. Army, Ms. Klutey joined GE Capital Energy Services, where she focused on providing tax and structured equity to renewable energy projects. In 2010, she joined American Wind Capital, the first company to focus on monetizing royalties from wind and solar renewable energy projects, as chief financial officer. Prior to joining Activate, she served in various roles originating, underwriting and financing energy land investments.               

“Maria has unparalleled experience in financing deals in the renewable energy space,” said Brennan Potts, CEO of Accelerate Real Asset Management. “She has been a part of the acceleration of renewable energy adoption for more than a decade and we are excited to welcome her to Activate to help us execute our business plan.”
                             

“Based on my experience, there has never been a better time to acquire assets in renewables,” said Ms. Klutey. “The key is to combine an attractive cost of capital with a breadth of industry experience and relationships. Activate is a sophisticated investment platform that delivers both of these differentiating factors and I am proud to become part of the team.”

Activate will continue to partner directly with private landowners and developers to maximize the value of their renewable real estate holdings. To date, Activate and its affiliates have acquired or signed agreements to fund acquisitions totaling more than 3,800 acres directly supporting over 700 megawatts of existing or planned renewable power generation across eight states.

Activate was launched in May 2021 in a joint venture with Accelerate Real Asset Management and an initial capital commitment of $500 million from D. E. Shaw Renewable Investments (DESRI).

About Activate Renewables
Activate Renewables is committed to powering new economy investments through the acquisition of real estate and royalty interests associated with high-quality wind, solar, and energy storage facilities located across the United States. For more information, please visit www.activate-renewables.com.

About Accelerate Real Asset Management
Accelerate, supported by $800 million in combined capital commitments, is a growth-oriented platform driven to deliver impactful value for stakeholders, our community, and the planet by deploying a next-generation approach to investments that power the new economy across the natural resources, renewable energy, and infrastructure markets. For more information, please visit www.we-are-accelerate.com.

About D. E. Shaw Renewable Investments
D. E. Shaw Renewable Investments (DESRI) and its affiliates develop, acquire, own, and operate long-term contracted renewable energy assets in the U.S. DESRI’s portfolio of operating and in-construction renewable energy projects currently includes over 50 solar and wind projects that represent over 6 GW of aggregate capacity. DESRI is a member of the D. E. Shaw group, a global investment and technology development firm with more than $55 billion in investment and committed capital as of June 1, 2021, and offices in North America, Europe, and Asia.