CPV Subsidiary E&L Westcoast Announce Contract To Develop, Build And Sell 660MW Natural Gas-Fired Combined Cycle Power Plant To PG&E

 

SILVER SPRING, MD April 5, 2005 -- E&L Westcoast, LLC ("E&L Westcoast") is pleased to announce it has signed a contract to develop, build, and then sell a 660 MW natural gas-fired, combined cycle power plant to Pacific Gas & Electric Company ("PG&E"). Competitive Power Ventures, affiliates of ArcLight Capital Partners, LLC and General Electric make up the ownership of E&L Westcoast. Development will begin immediately on the project located in northern Colusa County, about 60 miles northwest of Sacramento. A winner of the PG&E's request for offers process (the "RFO"), the project is scheduled to enter commercial operations to meet the summer demand in 2010.

"We are confident that the strong team we assembled to respond to the RFO will be able to deliver a highly efficient, cost-effective power plant to PG&E that will help meet California's growing demands", said Doug Egan, president of Competitive Power Ventures.

The plant is designed to be amongst the most efficient power facilities in the State using advanced natural gas-fired combined cycle technology. The project will use GE equipment including two 7FA gas turbines and a single steam turbine. The project site is rurally located accessing natural gas and electrical transmission interconnection nearby.

The award of the contract was announced by PG&E on April 4, 2005 as a part of their RFO initiated as a part of their 2004 long term resource plan. The contract is expected to be submitted in April to the California Public Utilities Commission for approval.

Competitive Power Ventures is a North American power industry development and asset management company. Founded in 1999, CPV is headquartered in Silver Spring, Maryland and has an office in Braintree, Massachusetts. CPV manages and develops natural gas fired projects throughout the U.S, but sees continued strong demand for renewable energy and other innovative power generation projects in the country for the foreseeable future.