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Strategic Sale of Major US Wind Development Company AnnouncedMarathon Capital announced today the sale of CPV Wind Ventures, LLC (CPV Wind) to Iberdrola Renewable Energies USA Ltd. (Iberdrola). CPV Wind is a joint venture of Competitive Power Ventures, Inc. (CPV) affiliates of Arclight Capital Partners. Marathon represented CPV Wind exclusively on this transaction. The transaction involves the sale of a diverse portfolio of development projects totaling 3500 MWs across 15 states. CPV Wind also has a contract for a large block of General Electric wind turbines to support the development portfolio. The transaction is expected to close by early May. "After an extensive process managed by Marathon Capital, CPV is extremely pleased with the selection of Iberdrola for the acquisition of CPV Wind and to lead the portfolio of projects into construction and operation," said Doug Egan, CPV Chairman and Chief Executive Officer. Gregg Elesh, Marathon Capital's Chief Investment Officer remarked that "this transaction once again clearly demonstrates the value of quality development projects and development pipelines within the wind energy space. The CPV Wind portfolio of projects is a unique package of late, mid and early-stage assets. We are delighted that Iberdrola, a world leader in the wind generation industry, will use these assets to further its goal of being a dominant participant in the US wind market." About Marathon Capital, LLCMarathon Capital is an experienced investment banking firm focused on the global energy and infrastructure markets, with expertise in wind acquisitions. Marathon is headquartered in Bannockburn, Illinois and maintains offices in New York City and SanFrancisco. Marathon Capital's website is . About Competitive Power VenturesEstablished in 1999, Competitive Power Ventures is a North American power industry development and asset management company. The company's development professionals have played critical roles in the successful development of more than 30 power plants, representing over 15,000 megawatts of currently operational power generation capacity. CPV is majority owned by Warburg Pincus. For more information, please . For more information about Marathon Capital's wind financing services, please contact us at 847-574-2670. View printable version of this press release.
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