CHICAGO – December 10, 2008 – Invenergy Wind LLC (“Invenergy”) announced the successful closing of equity financing with GE Energy Financial Services and Metropolitan Life Insurance Company (MetLife) for its Middle-South Wind Holdings portfolio, which consists of the 150MW McAdoo Energy wind farm in Dickens County, Texas, east of the town of Lubbock, and the 99MW Grand Ridge Energy Center in LaSalle County, Illinois, about 80 miles southwest of Chicago. Both facilities began commercial operations in October 2008.
The investments by GE Energy Financial Services and MetLife were used to retire construction financing on the facilities. “We were very pleased to complete this funding in a difficult financial market. It is a testament to the strength of our long relationship with GE and we welcome MetLife as a new investor in our wind portfolio,” said Jim Murphy, Invenergy’s CFO.
The McAdoo investment helps Texas achieve its mandate of 5,880 megawatts of renewable energy capacity by 2015. The site has 100 GE 1.5 sle turbines and is selling its output to the ERCOT wholesale market.
The Grand Ridge Energy Center is helping Illinois meet its requirement to supply 2 percent of electricity from renewable sources in 2008 (rising to 25 percent by 2025). The site is composed of 66 GE 1.5 MW sle turbines and is selling its output to the PJM wholesale market.
Strong support from officials with Dickens County and the Spur Independent SchoolDistrict was instrumental in helping the McAdoo project move forward quickly. The Grand Ridge project is Invenergy’s first wind farm in Illinois, and officials with LaSalle County; Brookfield, Allen, Grand Rapids and Otter Creek Townships; and Exelon Corporation all provided key support to this project.
About Invenergy Wind LLC
Invenergy and its affiliates are focused on the development, ownership, operation andmanagement of large-scale wind energy and other clean energy generation assets in theNorth American and European markets.
The Invenergy companies have approximately 2,000 MW of wind projects and 2,800MW of natural-gas fired generating projects in operation or construction as of October 2008. Invenergy is one of the ‘top 5’ wind energy developers in North America. Visit www.invenergyllc.com. About GE Energy Financial Services
GE Energy Financial Services’ experts invest globally with a long-term view, backed bythe best of GE’s technical know-how and financial strength, across the capital spectrum in one of the world’s most capital-intensive industries, energy, to help their customersand GE grow. With $19 billion in assets, GE Energy Financial Services is based in Stamford, Connecticut. In renewable energy, GE Energy Financial Services is growing its portfolio of more than $4 billion in assets in wind, solar, biomass, hydro and geothermal power. For more information, visit www.geenergyfinancialservices.com. About GE
GE (NYSE: GE) is Imagination at Work -- a diversified technology, media and financial services company focused on solving some of the world's toughest problems. With products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and advanced materials, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit www.ge.com. About MetLife
Celebrating 140 years, MetLife is a subsidiary of MetLife, Inc. (NYSE: MET), a leading provider of insurance and financial services with operations throughout the United States and the Latin America, Europe and Asia Pacific regions. Through its domestic and international subsidiaries and affiliates, MetLife, Inc. reaches more than 70 million customers around the world and MetLife is the largest life insurer in the United States (based on life insurance in-force). The MetLife companies offer life insurance, annuities, auto and home insurance, retail banking and other financial services to individuals, as well as group insurance and retirement & savings products and services to corporations and other institutions. For more information, please visit www.metlife.com. ###
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