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Marathon Capital Advises Ridgeline Energy, LLC in Its Sale to Veolia EnvironnementMarathon Capital is pleased to announce the sale of Ridgeline Energy, a Washington State based specialist in the development of wind energy projects, to Veolia Environnement. Marathon Capital acted as the exclusive financial advisor to Ridgeline Energy. The Marathon transaction team included Ted Brandt, Gregg Elesh, and Ari Pribadi. The Veolia acquisition, for a total amount of $72 million (€48.6 million), includes 100% of Ridgeline's share capital and may give rise to an additional sum for 1,500 MW of capacity that is ready to be built. The wind acquisition has been approved by the US Federal Energy Regulatory Commission (FERC). Ridgeline Energy was set up in 2001 and focuses on the Pacific Northwest and Western United States: Idaho, Washington, Nevada, Wyoming, Oregon, California, and Utah. These states benefit from areas which are suitable for wind projects and which are located within a close proximity to large urban areas where the energy can be consumed such as Los Angeles, San Francisco, Las Vegas, Denver, or Phoenix. The Seattle-based company controls the development of a portfolio of projects representing 8,000 MW of identified capacity, of which 4,000 MW are currently under active development. Ridgeline Energy intends to bring close to 2,000 MW of capacity on line by 2012. Veolia Environment has been present in the wind energy market since 2007, through Eolfi in which it holds a 50% interest. Eolfi is the French leader in the management of investment funds focused on wind energy and is also active in the development of its own wind farms in Europe. Eolfi currently operates 106 MW of capacity in France and is building another 109 MW, part of which will come on ine in 2008 and the remainder in 2009. By the approved permits representing capacity of 230 MW and is now developing a portfolio of wind projects (identified or in the active development stage) representing potential capacity of 3,000 MW, mainly in France, Greece, and Poland. Veolia Environnement will contribute its interest in Ridgeline to Eolfi. Steve Voorhees, Founder and CEO of Ridgeline Energy, LLC said, "Ridgeline sought a strategic partner with a shared vision. Marathon professionally guided Ridgeline through a complex transaction and facilitated a timely closing during uncertain economic times." The wind acquisition is part of Veolia Environnement's strategy of developing new business in areas which are directly complementary to its core business and traditional expertise. These new business activities all have strong potential for growth and value creation in the coming years. 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 energy project financing, 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 Veolia EnvironnementVeolia Environnement is a world leader in environmental services. With more than 319,000 employees the company has operations all around the world and provides tailored solutions to meet the needs of municipal and industrial customers in four complementary segments: water management, waste management, energy management, and freight and passenger transportation. For more information about Marathon Capital's wind project financing services, please contact us at 847-574-2670. View printable version of this press release.
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