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Mr. Sanches is located in the Houston office and serves as Sithe Global’s Chief Financial Officer and Vice President. Mr. Sanches joined Sithe Global in September 2004 upon Sithe Global’s acquisition of the Desert Rock Project from STEAG Power. Prior to joining Sithe Global, Mr. Sanches served as Vice President of STEAG Power in its Houston office. Mr. Sanches began his professional career in 1988 with PanEnergy, a natural gas interstate pipeline entity, ultimately moving to PanEnergy’s unregulated power entity, PanEnergy Power Services in 1995. At PanEnergy Power Services, Mr. Sanches led and managed the development, implementation, and operation of one of the first computer models to forecast forward power prices. The model was used to analyze and negotiate power purchase agreements that ultimately led to the realization of the St. Francis Project, a 250 MW gas fired combined cycle plant in Missouri jointly owned between Duke Energy Power Services and Associated Electric Cooperative, Inc. (AECI); the conversion of 2 existing oil fired steam plants in Maine to natural gas; and the ultimate price paid for PanEnergy’s stock in the acquisition of PanEnergy by Duke Power. Additionally, Mr. Sanches headed the early development activities that ultimately led to the 520 MW gas fired combined cycle Maine Independence Project. In 1997, Mr. Sanches joined Pipeline Power Partners, an asset development company organized to develop electric power assets and electric compression assets along major natural gas pipelines. At Pipeline Power Partners, Mr. Sanches managed and conducted modeling of both forward electric power and natural gas prices for both Pipeline Power Partners and its investment partners, Summit Energy. Model results performed for Summit Energy ultimately led to the successful completion of the 490 MW gas fired combined cycle power plant in Bridgeport, CO ultimately owned by Duke Energy North America, LLC (67%) and United Illuminating Company (33%).
Mr. Sanches joined Avista Power in 1999 representing Avista in its joint venture with STEAG AG. In this position, Mr. Sanches had an extensive role in the acquisition and financing of the 220 MW Rathdrum gas fired project in Oregon. Co-Lead with Assistant Treasurer of Avista in selection of Lead Arranger and negotiation of loan terms and conditions. Mr. Sanches also had a role in the financing of the 270 MW gas fired combined cycle Rathdrum Power Project and the acquisition and financing of the 280 MW Coyote Springs II Project in Oregon. Mr. Sanches acted as Co-Lead with Avista’s Assistant Treasurer in the selection of Lead Arranger and negotiation of loan terms and conditions. Mr. Sanches also assisted Avista’s Assistant Treasurer in the negotiation of Avista Corporate Equity Bridge Loans, Development Loans, and Corporate Revolver Loans. Mr. Sanches has a B.S. in Mechanical Engineering from Lamar University (1988) in Beaumont, Texas and a M.B.A. with concentrations in both International Business and Finance from the University of St. Thomas (1994) in Houston, Texas. | 