David W. Crane | |
|---|---|
 | |
| Under Secretary of Energy for Infrastructure | |
| In office June 14, 2023 – January 20, 2025 | |
| President | Joe Biden |
| Succeeded by | Wells Griffith III |
| Personal details | |
| Born | David W. Crane 1959 (age 66–67) |
| Education | Princeton University (BA) Harvard Law School (JD) |
David W. Crane (born 1959) is an American lawyer, investment banker and business executive in theenergy industry. He served as the Undersecretary for Infrastructure in theUnited States Department of Energy from 2023 to 2025.
David Crane grew up inLake Forest, Illinois, on theLake Michigan shore. His father was an aluminum sales executive. At 14 years old he wanted to be alawyer.[1]Crane graduated from the Woodrow Wilson School of Public and International Affairs atPrinceton University with aBachelor of Arts and fromHarvard Law School with aJuris Doctor.[2]
From 1991 to 1996, Crane worked in various positions atABB Energy Ventures as Vice President for the Asia-Pacific Region.[2]
From January 1999 to February 2000, Crane served as a Senior Vice President in the global power business department ofLehman Brothers, called the "Global Power Group", where he was responsible for project financing in emerging markets (Latin America and Asia) with a focus on privatization of state-owned utilities as in Thailand and Brazil.[2]
From March 2000 to 2003, Crane worked forInternational Power, managing the business overall and implementing its strategy. He was Executive Director from 2000 to 2003, Chief Operating Officer from March 2000 to December 2002, and Chief Executive Officer from January 2003 to November 2003.[2] During his tenure at International Power he is credited with increasing the stock value by 46%.[3]
Crane joined then Minneapolis basedNRG Energy in 2003 as CEO.[3] He was the Director ofEl Paso Natural Gas from December 2009 to May 2012[2] and served[when?] as CEO and President atGenOn Energy Americas Generation and GenOn Mid Atlantic, before NRG acquired it in 2012.[2] Crane moved NRG fromMinneapolis, where the firm existed as anXcel subsidiary, toPrinceton, New Jersey.[4]
He doubled NRG's generating capacity, quadrupling sales. Shares of the company outperformedS&P 500 andDow Jones indexes as well asExelon, NRG’s largest competitor.[4] In December 2015, Crane resigned from his position at NRG, succeeded by Mauricio Gutierrez.[5]
In April 2016 Crane joinedsustainability oriented investment firmPegasus Capital Advisors as its Chief Strategy Officer, as Operating Advisor and Senior Operating Executive.[2]Since 2016 he has been director of Saudi ArabianACWA Power International, directing the ACWA Holding, Lighting Science Group Corporation and ACWA Guc, the ACWA subsidiary in Turkey.[2]
He served[when?] as a Director of EP Energy.[2] As of February 2017[update] he remains Chairman of Nuclear Innovation North America, an NRG subsidiary investing in and developing nuclear power projects in North America such as theAdvanced boiling water reactor at theSouth Texas Nuclear Generating Station.[2]
In August 2022, Crane was nominated by PresidentJoe Biden to serve as Under Secretary for Infrastructure at theUnited States Department of Energy.[6] He was confirmed by the Senate on June 7, 2023, and was sworn in on June 14, 2023.[7]
Crane has been part of the fossil fuel industry since the beginning of his career. When NRG shifted to green energies, NRG had 3 million customers. With its "shift to green power systems [he hopes this will] keep them." He stated that given "80% of residential solar installations are done on 20-year leases, that means you’re my customer for the next 20 years. You’re not leaving."[8]
Crane lives in theLawrenceville section ofLawrence Township, Mercer County, New Jersey, with his wife Isabella de la Houssaye, a corporate lawyer and endurance athlete, who died in December 2023 at the age of 59; Crane and his wife had welcomed their children to join them as part of their challenging activities.[9] The couple has five children. His eldest son,Cason Crane, was the firstopenly gay mountaineer to scale theSeven Summits.[10] Another son,Oliver Crane, is the youngest person to ever row across the Atlantic Ocean solo.[11]
Crane once owned Graffiti, a bar inHong Kong, has trekked acrossCosta Rica and rebuilt homes inHaiti with his children.[4]