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ArcLight purchases 3.1 GW California Wind Development ProjectMarathon Capital announced today the closing and sale of Allco Finance Group's ("AFG") Tehachapi wind development assets to California Highwind Power, LLC, an affiliate of ArcLight Capital Partners, LLC for $325 million in cash. California Highwind Power will be managed by Terra-Gen Power, LLC. The AFG assets included 24 MW's of commissioned assets, more than 3,100 MW's of planned wind development, together with key land control, critical transmission queue positions and a 1,550 MW long term off-take agreement with Southern California Edison. The full build-out of the Tehachapi project will occur over the next 8-10 years. Marathon Capital represented AFG on an exclusive basis for this wind transaction. J.P. Morgan Securities Inc. represented ArcLight. Nick Bain, Head of Infrastructure, stated: "We are delighted with the outcome of this very competitive and successfully executed sale. It is disappointing to have to divest a one-of-a-kind project like Tehachapi. Nonetheless, we are pleased with the financial results of the sale, which was managed jointly by our financial adviser, Marathon Capital, and Allco's infrastructure team. ArcLight/Terra Gen now has the opportunity to take this exciting project forward towards full build out." Dan Revers, Managing Partner of ArcLight Capital Partners, commented that "the AFG Tehachapi wind assets are an excellent strategic fit and growth platform for our existing portfolio of wind, geothermal and solar generating assets in Terra-Gen Power, the majority of which are based in California." Jim Pagano, CEO of Terra-Gen Power, stated that "the team here at Terra-Gen Power is excited about taking over management of this flagship project in California's renewable energy industry. Terra-Gen Power already owns and operates over 185 MW of existing wind generating projects in Tehachapi wind and is committed to further developing this critical wind resource." Ted Brandt, CEO of Marathon Capital stated that "the AFG auction process attracted a significant number of participants from all over the world. However over the course of our process, we were able to cull the list down to a small group of highly qualified finalists. The ArcLight/Terra-Gen team executed brilliantly, especially in the final days and ended up the winner." About Marathon Capital, LLCMarathon Capital is an experienced investment banking firm focused on the global energy and infrastructure markets, with expertise in wind financing, wind transactions, and wind mergers and acquisitions. Marathon is headquartered in Bannockburn, Illinois and maintains offices in New York City and SanFrancisco. Marathon Capital's website is . About Allco Finance GroupAllco Finance Group ("Allco") is a fully integrated global financial services business, listed on the Australian Stock Exchange (ASX: AFG) and specializing in structured asset finance, specialized funds management and debt funding. About Terra-Gen Power, LLCTerra-Gen Power is a leading renewable energy company headquartered in New York, NY with offices in Reno, Nevada. Terra-Gen owns significant interests in wind, geothermal and solar assets. Terra-Gen provides project development, operation, maintenance and management services. Terra-Gen Power is owned by funds managed by ArcLight Capital Partners and management. More information about Terra-Gen can be found at . About ArcLight Capital Partners, LLCArcLight is one of the world's leading energy investment firms with more than $6.8 billion under management. ArcLight's investment team has extensive renewable energy investing experience, industry relationships, and asset level knowledge. ArcLight is headquartered in Boston, Massachusetts with offices in New York City, London and Luxembourg. More information about ArcLight can be found at . For more information about Marathon Capital's wind development financing services, please contact us at 847-574-2670. View printable version of this press release.
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