Companies Finalize Wind Power Project

Catamount Energy has closed the deal on its first U.S. wind project, a 25-turbine, 37.5 MW wind farm in Nolan County, Texas.

Rutland, Vermont – July 23, 2003 [] Catamount is an equity investor in the project, known as Sweetwater 1, with Babcock & Brown and another major financial institution. The initial 25 1.5 MW wind turbines, provided by GE Wind Energy, should be in place by year’s end. The power will be sold under a power purchase agreement with TXU Energy. “We were very patient in selecting our first U.S. wind investment, and that patience paid off with an excellent project and a partnership with quality people and investors,” Catamount CEO James Moore said. “The Sweetwater project and our efforts with Force 9 in the United Kingdom give Catamount a solid, high-quality pipeline of U.S. and U.K. projects.” DKR Development of Houston was the project developer. DKR, Babcock & Brown, and Catamount have also signed an agreement to develop up to 400 MW on the Sweetwater site over the next few years. “With this agreement, TXU Energy now purchases enough renewable wind energy to power 82,000 Texas homes,” said V J Horgan, president of portfolio management for TXU Energy. “As the largest purchaser of wind energy in Texas, we remain interested in and committed to the development and expansion of wind power.” “Wind is the fastest growing energy source in the world,” said Bob Kelly, Partner of DKR Development. “This project will add a significant wind resource to central Texas and will provide power at prices very competitive with other fossil fuel alternatives.” “The Sweetwater Project will also be a factor in combating global warming and our dependence on foreign sources of energy,” said Dave Ramm, Partner of DKR Development. “The wind resource is significant in the United States and we intend to develop more projects like Sweetwater to bring these benefits to electric power consumers.”
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