Wells Fargo has announced leadership transitions for its renewable energy and environmental finance business, which is part of the company’s commercial capital business.
Barry Neal will retire July 1, and Philip Hopkins will assume sole leadership of the renewable energy and environmental finance business. For more than a decade, Neal and Hopkins have jointly led the group.
Under their direction, the group has grown to more than 30 professionals who are responsible for evaluating, negotiating and managing equity investments in wind, solar and other renewable energy projects. The team also works closely with other Wells Fargo business groups to provide products and services to the renewable energy sector.
To date, Wells Fargo has funded more than $7.5 billion into more than 400 wind and solar projects throughout the U.S.
“Over the past 13 years, we’ve thoughtfully and strategically built our reputation as a quiet but significant contributor to the advancement of U.S. renewable energy,” Hopkins says. “I’m excited about the opportunity to continue building upon this solid foundation.”
Neal says, “I’m very proud of the work our team has done in making Wells Fargo a leader in financing projects that help propel the U.S. toward a low-carbon economy. It’s been a joy to bring people with similar vision and passion around this sector together, creating a collaborative culture that will continue to make a positive impact on renewable energy and the environment in the future.”
Neal has spent 37 years in the energy and environmental sectors. He joined Wells Fargo in 2006 after spending more than 20 years in project development, consulting and investment management.
“Barry has been instrumental in helping the company develop and advance our leadership in sustainability,” says Mary Wenzel, head of sustainability and corporate responsibility at Wells Fargo. “He leaves a legacy of passion, hard work, and wise counsel that has helped shape Wells Fargo’s commitment to and leadership in sustainable finance.”