Michael Bax is a Director of InterEnergy Holdings, where he oversees the development and new business activities.
From 1999 to 2008 Mr. Bax was associated with Basic Energy, InterEnergy’s predecessor. During his tenure with Basic Energy, he helped grow the company for a group of regional private investors from two non-controlled investments to seven controlled positions in a company with aggregate revenues of $950 million and EBITDA of $150 million in 2008. He was responsible for structuring and negotiating the acquisition of assets in the Dominican Republic, Argentina, Panama and Jamaica. He led the successful divestment of three assets to Conduit Capital and Rurelec. In his time with Basic Energy, the company was involved greenfield, expansion and rehabilitation projects that represented 600 MW of new capacity, 125 km of transmission lines and multiple power purchase agreements (“PPAs”) involving more than 400 MW of long-term agreements on favorable terms. Mr. Bax also served as general manager of EGE Haina and CEPP, in the Dominican Republic.
Prior to his time with Basic Energy, Mr. Bax was Regional Manager for Latin America for CDC, based in Costa Rica and was responsible for a portfolio of £450 million of equity and debt instruments. During that time, he was also responsible for the management of CAIF, the first Central American private equity fund. The portfolio included many infrastructure assets, including equity and debt investments in hydro, biomass and geothermal power, as well as significant investments in conventional power, including leading the successful privatization of the largest generation utility in the Dominican Republic. The power assets acquired during his period with CDC were part of the group of LAC assets incorporated into Globeleq and subsequently sold to Israel Corp in 2006.
Before CDC, Mr. Bax worked with Deloitte & Touche in Corporate Finance and Audit in the United States, the United Kingdom and Zimbabwe.