EDF Renewable Energy Closes Financing on Catalina Solar Project

  EDF Renewable Energy Closes Financing on Catalina Solar Project

Business Wire

SAN DIEGO -- January 2, 2013

EDF Renewable Energy, formerly enXco, announced today that it completed
financing on the 143 MWp Catalina Solar project in California’s Mojave Desert.
Majority interest in the project was acquired by a group of investors
comprising GE (NYSE: GE) unit GE Energy Financial Services, Metropolitan Life
Insurance Company, a wholly owned subsidiary of MetLife, Inc. (NYSE: MET),
Union Bank, N.A., and Citi.

Located on 1,100 acres of privately owned land southwest of the Tehachapi and
Piute mountains, the thin film photovoltaic panel project, under construction
since May, began ramping up operation last month and will reach full capacity
during the second quarter of this year. The project’s clean energy, provided
to San Diego Gas & Electric Company, will power the equivalent of 35,000 homes
annually.

GE Energy Financial Services, MetLife, Union Bank and Citi have acquired their
majority ownership stake in the project from EDF Renewable Energy. The
investment group intends to acquire the remaining stake upon completion of the
project and convert to a single investor lease. Additional details of the
transaction were not disclosed.

The project is estimated to offset 250,000 metric tons of greenhouse gas
emissions every year, which is the equivalent of the emissions from 49,000
cars. It further helps SDG&E to achieve California’s Renewable Portfolio
Standard (RPS) goal of sourcing 33 percent of retail electricity from
renewable energy resources by 2020. Additional project benefits include jobs,
with up to 500 workers on site during construction. EDF Renewable Services,
formerly enXco Service Corporation, will provide operations and maintenance
service.

“We appreciate the new investment with our partners in Catalina. It
underscores solar power’s ability to provide clean, abundant and affordable
power, while creating economic benefits,” said Michael Wheeler, Director of
Project Finance at EDF Renewable Energy. The Solar Energy Industries
Association estimates that the US solar energy industry employs more than
119,000 workers at 5,600 companies across all 50 states.

EDF Renewable Energy is one of the largest renewable energy developers in
California and the nation. Catalina Solar represents EDF Renewable Energy’s
22^nd renewable energy project in California generating a combined 730 MW of
clean energy for the state.

AboutEDF Renewable Energy:

EDFRenewable Energy - formerly enXco - is a leading U.S. independent power
producer with more than 25 years of expertise in the renewable industry,
covering all range of services from project development and management to
operations and maintenance. EDFRenewable Energy specializes in wind and solar
photovoltaic with presence in other segments of the renewable energy market:
biogas, biomass, hydro, marine energy and storage solutions. The company
develops, constructs, operates and manages renewable energy projects
throughout the United States for its own accord as well as for third parties.
EDF Renewable Energy’s portfolio consists of over 3.5 gigawatts of developed
projects with 1.8 gigawatts of installed capacity. EDF Renewable Energy is the
U.S. subsidiary ofEDF Energies Nouvelles. EDF Energies Nouvelles is the
renewable energy arm of the EDF group, the leading electricity company in the
world. For more information visit: www.edf-re.com

About EDF Renewable Services:

EDF Renewable Services – formerly enXco Service Corporation – is the leading
third-party provider of operations and maintenance services in North America.
With 25 years of experience, EDF Renewable Services understands renewable
energy facilities represent a substantial investment. The company takes an
owner-operator approach to ensure maximum returns on the asset, full project
value, and ongoing profitability for new and existing facilities. As part of a
global organization with utility-scale wind and solar plants, the company
brings depth of experience to every project. With more than 6 gigawatts of
wind and solar under contract, EDF Renewable Services is the trusted leader in
O&M. For more information visit: www.edf-renewable-services.com

Contact:

EDF Renewable Energy
Sandi Briner, 858-521-3525
Sandi.Briner@edf-re.com
 
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