Great River Energy holds annual meeting, Holl elected board chair
Maple Grove, Minn. –Approximately 350 electric cooperative leaders gathered for Great River Energy’s annual meeting at the cooperative’s new headquarters facility in Maple Grove, Minn. on June 12. Great River Energy leadership addressed the attendees sharing highlights from the past year.
“We are a fast growing utility - experiencing 5.4 percent load growth in 2007,” said Great River Energy president and CEO, David Saggau. “We continue to serve our members well with our focus on our triple bottom line: reasonable rates, reliable service and environmental stewardship.”
Larry Schmid, vice president and CFO, Great River Energy shared information on the cooperative’s financial position. “Great River Energy’s financial condition is strong. In fact, it has never been stronger,” said Schmid. “We are ready for the future.” 2007 was a significant year for Great River Energy. The organization completed a $1.3 billion transaction into the capital markets. “In 2007, we continued to build our financial strength and we are well prepared for the future” added Schmid.
New officers were elected to the Great River Energy Board of Directors during a reorganization meeting following the annual meeting:
Also during the meeting, two new directors were elected to the Great River Energy board:
The following directors were re-elected to Great River Energy’s 34-member board:
Great River Energy ( www.greatriverenergy.com) provides wholesale electricity to more than 1.7 million people via 28 distribution cooperatives in Minnesota and Wisconsin. With more than $2 billion in assets, Great River Energy is the second largest utility in the state, based on generating capacity, and the fifth largest generation and transmission (G&T) cooperative in the United States. Great River Energy’s member cooperatives range from those in the outer-ring suburbs of the Twin Cities to the Arrowhead region of Minnesota to the farmland of southwestern Minnesota. Great River Energy’s largest distribution cooperative serves more than 120,000 member-consumers; the smallest serves just over 2,400.
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