enXco Consolidates its Continued Presence in the Altamont Pass by Acquiring 100% of the Patterson Pass Wind Park
Escondido , CA.—May 18, 2007—enXco (an EDF EN Company) has completed a series of business transactions which both consolidate and confirm enXco's commitment as an owner and operator of wind projects in California in general and in the Altamont Pass in particular. enXco purchased from Havoco Wind Energy, LLC and Volkar/Coombs Partners, the 70% owners of the Patterson Pass Wind Park (21.8 MW) which enXco did not already own. enXco now owns 100% of Patterson Pass.
In related transactions, enXco sold its 30% interest in Tres Vaqueros Wind Park, currently rated at 23.9 MW to Babcock & Brown. This is part of a deal that began in May, 2006, when enXco sold its 25% interest in the Buena Vista Wind Park to Babcock & Brown, who subsequently repowered the project which now has a capacity of 38 MW. The remaining interest in these wind parks was owned by Havoco Wind Energy, LLC and Volkar/Coombs Partners, who sold their interest in Buena Vista in May 2006, as well as their shares in Tres Vaqueros to Babcock & Brown in concert with enXco's sale.
All of these wind parks are located in the Altamont Pass Wind Resource Area near the San Francisco Bay and sell their power to the Pacific Gas & Electric Company under long-term contracts.
"The recent settlement of lawsuits over avian mortality in the Altamont with Golden Gate Audubon and CARE, as adopted by Alameda County in cooperation with the California Department of Fish and Game, has improved the long-term investment prospects for wind generation in this important wind resource area," stated James A. Walker, Vice President Asset Management for enXco. "We will continue to work to be part of the solution both to California's need for clean renewable energy and to reducing avian mortality in the Altamont."
The addition of the balance of the Patterson Pass Wind Park brings enXco's California portfolio to over 1,800 wind turbines and 235 MW of generation (net ownership).
enXco, inc. (www.enxco.com) an EDF-EN Company (www.edf-en.com) develops, operates and manages wind-energy projects throughout the United States. Since 1987, enXco has grown to be a significant owner and developer of wind-energy installations in the United States, and is the largest third-party O&M provider for wind parks, currently servicing more than 3600 turbines (1500 MW).
EDF Energies Nouvelles, a 50% owned affiliate of the EDF Group, is specialized in renewable power generation, with a primary focus on wind power. It has built up positions in the European Union, mainly in five countries (France, Portugal, Italy, The UK and Greece) and in the United States. With an installed capacity of 887 MW and an annual turnover of € 335 million, EDF EN is a leading market player in the renewable energy sector.