Carter Wall appointed Executive Director of Massachusetts Renewable Energy Trust

BOSTON – MONDAY, SEPTEMBER 8, 2008 – The newly established Governing Board of the Massachusetts Renewable Energy Trust has selected Carter Wall as executive director of the Trust.

“Carter Wall is an experienced manager in public, private, and nonprofit entities, with considerable expertise in energy matters,” said Philip Giudice, Commissioner of the Department of Energy Resources and chairman of the Governing Board. “I have no doubt she will bring vigorous leadership to the Trust, as it leads the way toward a clean energy future for the Commonwealth.”

“I am thrilled to take the helm of the Massachusetts Renewable Energy Trust at this important time,” said Wall, whose start date is still to be determined. “Governor Deval Patrick has made clean energy a priority of his administration, and I intend to deliver it for him.”

The Massachusetts Renewable Energy Trust (MRET), created by the Electricity Restructuring Act of 1997, is charged with promoting the development of renewable energy capacity and usage in Massachusetts. MRET is funded by a charge of 0.00025 cents per kilowatt hour on the bills of Massachusetts electricity customers. That charge generates roughly $25 million per year to invest in renewable energy companies and installations.

Under the Green Communities Act, passed by the Legislature and signed earlier this year by Governor Deval Patrick, MRET, which had been under the purview of the Massachusetts Technology Collaborative, came under the governance of a new Governing Board. The Governing Board is chaired by the Commissioner of the Department of Energy Resources, and includes among its members the Secretary of Energy and Environmental Affairs or his designee, the Secretary of Administration and Finance and her designee, and the Secretary of Housing and Economic Development or his designee, as well as one member of the Massachusetts Technology Collaborative?s board of directors.  Governor Patrick announced his appointment of four citizen members of the panel on August 15. The governing board met for the first time today.

Wall, 47, comes to MRET from the position of executive vice president and chief operating officer of Power Options Inc., a consortium that provides energy procurement and related services to more than 500 nonprofit and government organizations under the auspices of the Massachusetts Health and Educational Facilities Authority (HEFA), a quasi-public organization. Twice the size of the largest municipal utility in the state, Power Options supplies contracts worth more than $200 million annually and promotes energy efficiency and renewables in health and educational institutions whose capital investments are funded by HEFA.

Prior to joining HEFA in 2006, Wall served as program manager for Harvard University’s Allston Campus planning process, which resulted in the nation?s first legally enforceable greenhouse gas cap on a real estate development project.

Wall has directed and managed large-scale infrastructure planning, financing, and permitting as a consultant and worked in investment banking with Merrill Lynch’s Global Power and Utility Investment Banking Group. Wall has an A.B. in Biological Sciences from Bryn Mawr College, and a Masters in Public Policy from the John F. Kennedy School of Government at Harvard University. She resides in Leverett.

In its first meeting, the MRET Governing Board also approved its bylaws, received a briefing on a DOER consultant report describing the potential for renewable energy development in Massachusetts, and was given an initial briefing on the five-year plan it will approve to direct MRET’s activities going forward.

“Building on the momentum and new responsibilities that flow from the Green Communities Act, this meeting marks a new day for the Massachusetts Renewable Energy Trust,” said Energy and Environmental Affairs Secretary Ian Bowles. “The new governing board and new executive director will provide critical leadership as the trust moves forward to focus on Governor Patrick’s vision of rapid expansion of renewable power generation in Massachusetts.”