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CPV Wind (3,555MW of Wind Development Assets)

Background

Merits:

• Highly experienced development team

• A subsidiary of Competitive Power Ventures, a large conventional power plant developer

• Secured sites all over United States with great wind potential

Challenges:

• Initially funded using capital from Arclight Capital Partners, a private equity investor, CPV Wind needed more efficient capital to be competitive in bidding for power purchase contracts and moving projects forward

Marathon Process

• We represented CPV Wind as its Exclusive Financial Advisor/Investment Banker.

• We created a sales teaser, offering book and valuation model of the company.

• We presented the company's competitive advantages, values and management skills to a select group of potential buyers.

• We received multiple bona fide offers from top-tier strategic and financial buyers.

• We advised CPV's board in evaluating the offers and selecting the exclusive buyer.

• We managed the due-diligence process utilizing a virtual data-room.

Outcome

• Closed wind financing transaction with Iberdrola Renewable Energies USA at a valuation of $90MM in May 2007