OKLAHOMA GETS MORE BIG WIND

CPV Renewable Energy Company ('CPV REC') Closes Keenan II Wind Farm Financing; 152-Megawatt Green Energy Facility to Power Cleaner Sooner State
February 16, 2010 (PR Newswire)

"CPV Renewable Energy Company -- an affiliate of Competitive Power Ventures, Inc. -- announced that it has closed on financing and plans to begin construction on the 152-megawatt (MW) Keenan II wind farm, over approximately 8,000 acres 12 miles southwest of Woodward, Oklahoma. The project is scheduled for completion by year's end. It is the second phase of a multi-phased wind generation project with a total build-out potential exceeding 400 MW.

"Keenan II is expected to generate enough electricity to power approximately 45,000 average Oklahoma homes and avoid approximately 413,000 short tons a year in greenhouse gas emissions…the equivalent of taking nearly 72,000 cars off the road. The project has secured a 20-year power purchase agreement with Oklahoma Gas & Electric Company."

Oklahoma is a state that knows how to develop its energy assets and it has wind assets. (click to enlarge)

"CPV REC selected an eight-bank club to provide a debt facility to fund project costs during construction, which converts to a term financing facility upon commercial operation…The Delaney Group, Inc. will construct the project, which will consist of 66 2.3 MW turbines.

"The commencement of construction on Keenan signals that CPV shows no signs of slowing down its brisk pace of renewable energy development exhibited throughout 2009. In the second half of 2009 alone, CPV REC executed over 500 MW of long-term power purchase agreements. CPV REC has contracted wind farms scheduled to enter commercial operation in 2010, 2011 and 2012…"