NAES Corporation has chosen Albert R. Morales, a veteran energy and infrastructure executive, as President of its subsidiary PurEnergy LLC, a leading provider of asset management services in the power sector. Mr. Morales has joined PurEnergy effective February 1 and will assume leadership of the company June 1 when its founders, Don Scholl and Tom Murphy, transition into senior advisory roles.
“I’m delighted that Al is joining the team and will be leading PurEnergy into its next epoch,” said NAES Chief Operating Officer Tom Bartolomei. “Don Scholl and Tom Murphy have built a dynamic and highly successful organization, and their continued involvement is a testament to their commitment to the business, its clients and its employees.”
Mr. Morales added, “I’m honored to join PurEnergy and excited about its prospects for future growth and expansion. I look forward to working with recently named Vice Presidents Joel Lepoutre and John Hanlon as we continue to unlock synergies with NAES and its growing family of companies.”
NAES, the largest provider of third-party power plant O&M services in the United States, acquired PurEnergy in 2016. The company has provided NAES a vital platform for expansion into the asset management space.
A senior-level leader with management, finance and legal expertise in the renewable energy, manufacturing and infrastructure sectors, Mr. Morales brings a successful track record of company-building and project development. His unique, cross-functional background includes roles as CFO, COO, investment banker and attorney. Mr. Morales holds a JD from Columbia Law School, an MBA from Columbia Business School and a BA from Cornell University.
The PurEnergy team has deep expertise in optimizing project reliability and efficiency, making the best decisions on capital improvements and protecting the owner’s investment. They know how to turn around troubled energy assets and enhance solid performers. Whether analyzing off-take arrangements, property tax assessments, permitting issues or operational reliability – PurEnergy has the know-how to make power assets work most efficiently and profitably.
An independent services company, NAES is dedicated to delivering value to facilities across the power generation, oil & gas, petrochemical, pulp & paper, and manufacturing industries. The company draws on its deep experience in operations, maintenance, fabrication, construction, engineering, and technical support to build, repair, and operate plants that run safely, reliably and cost-effectively. In addition to PurEnergy, the NAES family of companies includes Greenberry Industrial, Olsson Industrial Electric, NAES Power Contractors, E3 Consulting and Gridforce Energy Management.
NAES is a wholly owned subsidiary of ITOCHU Corporation. With operations in over 80 countries covering a broad range of industries, ITOCHU ranks among the world’s largest corporations.