With Terra Firma’s financial backing, Spencer is looking to grow EverPower through acquisitions.
In April, EverPower signed a definitive agreement to acquire the Big Sky Wind Farm, located about 95 miles west of Chicago.
Now more than 70 percent of EverPower’s capacity is located in PJM Interconnection, the regional transmission organization that coordinates the movement in all or parts of 13 states including Pennsylvania and the District of Columbia.
Also, Spencer is looking at adding to his California holdings and possibly entering the Latin and Central American markets. The European and Asian markets are not on EverPower’s radar.
“A lot of the emerging markets are now putting the infrastructure (for wind farms) in place,” Spencer says.
Takeaways:
- Timing dictates the success of a new venture.
- Patience is key where high initial investment can mean slow returns.
- Outside financial backing helps sustain growth.
The Spencer File:
Name: James Spencer
Title: President and CEO
Company: EverPower Wind Holdings Inc.
Born: Ellwood City, Pennsylvania
Education: Bachelor’s degree from Duquesne University, and a law degree from the University of Pittsburgh.
What was your first job and what did you learn from it? The first real job I had was working in the foundry of a small copper mill in Butler County after my first year of college. What did I learn from it? Finish college.
Who has been the biggest influence on your life? My parents, who taught me the meaning of absolute commitment and the value of hard work.
What is the best business advice you ever received? To never ask your employees to do something that you would not be willing to do if asked.
If you weren’t a CEO, what is something you have always wanted to do? Own a successful restaurant — I have owned one that failed!
