California Wind Generation Facility Purchased

Centennial Power, Inc., a subsidiary of MDU Resources Group, Inc., has entered into an agreement to purchase the 66.6 MW Mountain View wind energy facility, from San Gorgonio Power Corporation

Bismarck, North Dakota – January 30, 2003 [] , an affiliate of PG&E National Energy Group for US$102.5 million. The Mountain View project is located in the San Gorgonio Pass, northwest of Palm Springs, California one of the nation’s prime wind energy development areas. The facilities consist of 111 Mitsubishi MWT-600 wind turbines and began commercial operation in September 2001. The project sells all of its output under a long-term contract with the California Department of Water Resources. SeaWest Wind Power will continue to operate the facilities. “This project is an ideal one for us to become involved with since it supplies power to the California market under contract and has a reliable earnings stream that is unaffected by economic cycles,” said Paul Gatzemeier, Centennial Power’s vice president and general manager. “In addition, this project is environmentally sound, gives us more expertise in wind generation and diversifies our generation assets.” The acquisition is subject to satisfaction of certain conditions including receipt of regulatory approvals from the Federal Energy Regulatory Commission and the Department of Justice under the Hart-Scott-Rodino Anti-Trust Improvement Act. Financial closing is expected to occur in early 2003.
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