CHICAGO – October 5, 2007 – Invenergy Wind LLC (“Invenergy”) announced thesuccessful closing of construction and equity financing for the 120 MW expansion of itsCamp Springs Wind Energy Center in Scurry County, Texas. The construction loans were provided by Prudential Capital Group and JPMorgan Chase Bank, N.A. The equity will beprovided by a consortium of investors led by JPMorgan Capital Corporation includingaffiliates of JPMorgan, Prudential Capital Group, Morgan Stanley, Northwestern Mutual,Wells Fargo and Invenergy.
James Murphy, Invenergy’s Chief Financial Officer, stated “We are very pleased to complete another unique financing. By utilizing a common investor group across theconstruction and permanent capital sources, we were able to streamline the financingprocess and realize significant savings in transaction costs.”
The expansion project is expected to be completed in early 2008 and will bring the Scurry County wind farm to 250.5 MW. Strong support from officials with Scurry County,Western Texas College and the Hermleigh and Snyder Independent School Districts wasinstrumental in helping both phases of the project move forward on a fast track basis.
The project interconnects with Oncor, the transmission affiliate of TXU and all power will be sold into the ERCOT market. Energy price risk is hedged through long-term agreements with Fortis Energy Marketing for the first phase of the project and CreditSuisse Energy for the expansion. All 250.5 MW will be generated using GE 1.5MW SLE wind turbines. The balance of plant including access roads, foundations, electrical collection systems and turbine erection is being constructed by DH Blattner and Sons.
About Invenergy Wind LLC
Chicago-based Invenergy Wind LLC is an affiliate of Invenergy LLC, a developer, owner and operator of utility-scale electricity generating facilities including wind energy and natural gas-fired projects. Invenergy Wind currently has 12 facilities representing morethan 1,300 megawatts of wind energy projects in operation and construction in the US andEurope. Wind energy projects completed and under construction by Invenergy Wind areexpected to generate more than 3.6 billion kilowatt hours of electricity per year with clean and renewable generation technology, enough to power almost 400,000 homes.
Invenergy is headquartered in Chicago and has North American offices in Denver,Washington D.C., Toronto, Milwaukee, Tampa, San Francisco and Austin, Texas.Overseas offices are located in London, Warsaw, Budapest and Athens.
Contact: James Murphy
312.224.1408