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Ridgeline Energy (~4,345 MW of Wind Development Assets)

Background

Merits:

• Large development pipeline in favorable Western and Northwestern parts of the United States

• Highly experienced development team

• Secured sites with strong wind resources and transmission capacity

• Access to lucrative California market

Marathon Process

• We represented Ridgeline Energy as its Exclusive Financial Advisor/Investment Banker.

• In conjunction with the management team, we created a sale teaser, offering book and valuation model of the company.

• We assisted management in presenting 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 Ridgeline's board in evaluating the offers and selecting the exclusive buyer.

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

Outcome

• Wind transaction closed with Veolia Environnement in September 2008 for a total amount of $72 million for 100% of the company's share capital. This amount may give rise to an additional sum, conditioned upon the completion of 1,500 MW of generation capacity.