CIM Group Taps Energy Veteran Steve Vavrik to Lead Permanent Power Expansion
Event summary
- Steve Vavrik appointed CEO of CIM Group’s Permanent Power Company, bringing 25 years of power sector experience.
- Permanent Power operates a portfolio including 1.2 GW solar and 690 MW battery storage capacity in California.
- Vavrik previously founded Broad Reach Power and led Earthrise Energy, with $8B+ in renewable project development.
The big picture
CIM Group’s appointment of Vavrik reflects the growing institutional focus on energy reliability through diversified portfolios. The move comes as power markets demand more flexible solutions, with Permanent Power positioning itself to compete alongside specialized platforms like Novva Data Centers in infrastructure-heavy sectors.
What we're watching
- Portfolio Scaling
- Whether Vavrik can accelerate Permanent Power’s expansion beyond California into national Opportunity Zones.
- Renewable Integration
- How the company balances solar, storage and potential conventional power assets in its long-term strategy.
- Execution Risk
- The pace at which Permanent Power converts its development pipeline into operational capacity under new leadership.