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Terra-Gen Power Buys Renewable Energy Projects From Airstream Energy

Airstream Energy development sites. Credit: Airstream Energy.
by Staff Writers
 New York NY (SPX) Jan 16, 2009
 Terra-Gen Power, LLC, a wholly-owned affiliate of ArcLight Capital Partners ("ArcLight"), has announced that, through an affiliated project company, it has acquired a portfolio of six wind projects from Airstream Energy, LLC ("Airstream"). The projects, which are located in Wyoming, Nebraska, Colorado, Kansas and New Mexico are in various stages of development and, when fully constructed, are expected to generate and sell approximately 2500MW of wind energy.

In addition, Terra-Gen and Airstream have executed a Development Services Agreement, which will retain the continuing services of Airstream for the development of the projects and ensure a seamless transition.

"Airstream has established a very strong presence in key geographies with exceptional wind resources," said Jim Pagano, CEO of Terra-Gen. "They have done a commendable job in creating value by securing high-quality project sites and we look forward to working with Airstream to bring these projects to completion."

Cameron Epard, President of Airstream, added, "We are very pleased to be associated with Terra-Gen. Their unique combination of a world-class development team, strong financial backing and long-term commitment to the renewables business is a great fit for us."

Terra-Gen Power is a leading renewable energy company headquartered in New York City with offices in San Diego, Denver, and Reno. Terra-Gen owns interests in the three Coso (302 MW), Dixie Valley (67 MW) and Beowawe (18 MW) geothermal projects; Cameron Ridge (64 MW), Pacific Crest (47 MW), San Gorgonio (43 MW), Foote Creek II-IV (44 MW), Texas Big Spring (34 MW), Ridgetop (29 MW), Peetz (30 MW), Oak Creek (23 MW), 251 (17 MW), VG Repower (7 MW), and Chandler (2 MW) wind power projects; the SEGS VIII (80 MW), SEGS IX (80 MW) solar power projects; in addition to its recently acquired (through an affiliate) 3100 MW wind development pipeline (California Highwind Power).

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