SolarNet Holdings Strengthens Management Team

ROHNERT PARK, Calif.--(BUSINESS WIRE)-- SolarNet Holdings, LLC, a majority owned subsidiary of ITOCHU Corporation, today announced changes in its top management to enable the company to solidify its position for sustainable growth in the increasingly competitive global solar market. SolarNet is comprised of DC Power Systems and Solar Depot, together the nation’s largest solar distributor, and Stellar Energy GP, Inc., a leading solar EPC contractor.

Mr. Toshihiko Fujioka has been named as SolarNet’s CEO. A 27-year veteran of ITOCHU Corporation, Mr. Fujioka had served as General Manager of ITOCHU’s Solar Business Department since 2009, with overall responsibility for the company’s extensive global solar operations, ranging from the distribution of solar systems to investments in solar thermal power generation projects in Japan, key European markets and North America.

Mr. Fujioka replaces Mr. Kevin Shimokobe, who will remain on the Board of Managers and at SolarNet’s headquarters in Rohnert Park, supporting the transition through the end of the year. Mr. Shimokobe previously served as the CEO of Solar Depot, a California-based solar distributor that ITOCHU acquired in 2007. Following the subsequent acquisition in 2009 of SolarNet, a leading solar distributor and solar integrator Mr. Shimokobe led both companies during their successful integration under the banner of SolarNet Holdings in February of this year.

“Mr. Fujioka brings a wealth of experience in the solar industry and will be an important addition to the SolarNet team,” said Mr. Shuichi Arase, Chairman of SolarNet Holdings, LLC.

“With global-scale involvement ranging from resource development through product distribution and system integration, ITOCHU remains strongly committed to the solar business,” said Mr. Eiichi Yonekura, President and CEO of ITOCHU International, ITOCHU Corporation’s North American flagship. “Drawing on his high-level industry experience, the addition of Mr. Fujioka to the management team at SolarNet will, I am confident, further reinforce our position as a top player in the dynamic North American solar distribution market.”

About SolarNet Holdings, LLC:

Headquartered in Rohnert Park, California, SolarNet Holdings, LLC operates subsidiaries DC Power Systems, Solar Depot and Stellar Energy GP, Inc. With sales offices and distribution centers throughout the United States and Canada, DC Power Systems and Solar Depot make up the largest distributor of renewable energy equipment in the Western Hemisphere. Stellar Energy GP, Inc is a leading large-scale solar EPC contractor focusing on commercial, municipal and utility-scale solar energy projects.

About ITOCHU Corporation:

With approximately 130 offices in 68 countries, ITOCHU Corporation engages in trading and import/export of various products such as textiles, machinery, information and communications technology, aerospace, electronics, energy, metals, minerals, chemicals, forest products, general merchandise, food, finance, realty, insurance, and logistics services, as well as business investment in Japan and beyond.

SolarNet Holdings, LLCChris Phipps, 707-992-3130
Vice President of Marketing
[email protected]

Source: SolarNet Holdings, LLC