A LETTER FROM OUR CHIEF EXECUTIVE OFFICER, MIKE HALL

April 2, 2020

One of our core principles at Borrego is to “Build long term relationships based on trust and transparency.” This principle has never been more important than it is today, as I reach out to share a summary of our COVID-19 response plan. In spite of the growing uncertainty, I am confident that our industry and company can emerge from this pandemic in a position of strength — but it will require us to work together to make that happen.

At the core of our response is a cross-departmental leadership task force that meets daily to discuss updates and develop necessary action plans. The majority of our executive team (including myself) participate in these calls. If you are looking for a way to organize your company’s response, I highly recommend using this daily task force huddle tactic. 

Our top priority will continue to be the health and well being of our people, partners, customers, and the communities we serve. In the field, we have instituted new health and safety guidelines to be followed during the pandemic. We are requiring all our office-based staff to work from home through at least May 4th, knowing that this date may move out as the situation evolves. During this time we are still completely open for business, eager to help our customers and working hard to meet our customer commitments. 

We have all seen a rapid escalation in the number of state and local orders limiting “non-essential” activities. In most locations, we understand that the exceptions for “essential” work clearly cover our construction and O&M projects. Therefore, the majority of our O&M and construction activities are continuing with additional safety, hygiene, and distancing protocols in order to create safe working environments. In cases where we believe there are elevated safety concerns or risk of infection, we will seek to rapidly and safely demobilize sites.

That said, we are working in a fast changing environment requiring real-time decision making. We will endeavor to communicate proactively with all of our partners regarding new developments, but it may not be possible for us to always communicate before an action needs to be taken. We ask for your understanding that we are doing our best, and will at all times prioritize safety in our decision making process.

In the face of these challenging times, we remain optimistic for our future and confident in our company’s ongoing financial health. Borrego is lucky to have entered this pandemic in a very strong position after a tenth consecutive year of profitable growth. We’re grateful to have tremendous support from long-term banking partners and a great partnership with our majority shareholder, Walsin Lihwa. And we’re eager to keep moving forward with our goal of accelerating the adoption of renewable energy by helping bring vital solar and energy storage projects to US businesses, communities, and our IPP partners. This means we’ll continue investing in our development activities through this pandemic — developing quality projects and selling our late-stage development pipeline

At a time like this, it is more important than ever for us to work closely with our partners. If you have any questions about our business, how we’re responding, or would like to share response best practices, please let us know at emailus@borregosolar.com. We welcome your input, questions or advice. 

Take care of yourselves.

Sincerely,

Mike Hall, CEO

Borrego Solar Systems, Inc.