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California's Newest Power Plant Goes Online Three Months Early, in Time for Summer Heat



 California's Newest Power Plant Goes Online Three Months Early, in Time for
                                 Summer Heat

CPV, GE & DGC begin commercial operations at 800-megawatt CPV Sentinel Energy
Project in Riverside County

PR Newswire

DESERT HOT SPRINGS, Calif., May 16, 2013

DESERT HOT SPRINGS, Calif., May 16, 2013 /PRNewswire/ -- California's newest
power plant, the 800-megawatt CPV Sentinel Energy Project, has begun flowing
electricity to the grid three months early, in time for the summer heat. 
Competitive Power Ventures, Inc. (CPV), GE (NYSE: GE) unit GE Energy Financial
Services and Diamond Generating Corporation (DGC)  said the California
Independent System Operator (CAISO) and the California Energy Commission have
declared commercial operations while the Chief Building Officer issued a final
Certificate of Occupancy for the natural gas-powered plant in Riverside
County. 

The CPV Sentinel Energy Project is located near Desert Hot Springs, amidst
wind farms producing 600 megawatts of electricity, five miles northwest of
Palm Springs. The project uses the most modern "peaking" power generation
technology available, the GE LMS100 aeroderivative gas turbine, to provide
electricity to approximately 640,000 homes in Southern California Edison's
service territory.  Eight units with quick-starting and fast-ramping
capability make the project a perfect fit for Coachella Valley residents
during the summer days of triple-digit temperatures and peak energy use, while
also backing up California's growing solar and wind farms that literally
surround the plant.

"With California's San Onofre nuclear plant off-line and power reserve margins
expected to be tight, it is more important than ever that the CPV Sentinel
Energy Project be available to support electric reliability this summer," said
John Murphy,  Senior Vice President of Engineering and Construction for CPV.
"Gemma Power Systems did a fantastic job of working with GE and our team to
complete this project ahead of schedule and on budget."

Gemma Power Systems California, Inc. was the general contractor overseeing
construction of the project, which created over 350 direct and indirect jobs
and infused the local economy with approximately $30 million in sales tax.
Over 731 thousand construction hours went into building the project. By
providing a clear path to commercialize critical infrastructure projects,
California leads the way in developing a clean and efficient energy sector.

Through payment for emissions offsets, the project has helped fund a wide
array of air improvement initiatives in the Coachella Valley.  Paid for
entirely by CPV Sentinel, the South Coast Air Quality Management District has
awarded nearly $53 million for 26 emission-reduction projects, including
replacing or cleaning up school district buses, installing air filtration
systems in classrooms and assisting local cities with solar panel
installations and dust control.

The project uses Best Available Control Technology for air emissions and Zero
Liquid Discharge for water usage, making it one of the state's most
environmentally friendly natural gas-fired power generation facilities. The
commencement of Sentinel's operations allows the grid operator to rely less on
older and inefficient power generation.

The project is providing power based on short-term sales agreements now. 
Beginning in August, CPV Sentinel will supply electricity under a long-term
power purchase agreement to Southern California Edison, an Edison
International (NYSE: EIX) company. CPV, the managing member, developer and
asset manager, owns 25 percent of the project, while DGC owns 50 percent and
will serve as the plant's operator and GE Energy Financial Services owns 25
percent. The project is expected to provide $6.4 million in annual property
taxes for the life of the asset.

GE's LMS100® aeroderivative gas turbine, which uses advanced intercooling
technology, is the world's most efficient simple-cycle gas turbine. With an
output of more than 100 megawatts, unmatched hot-day performance due to
intercooling, and capable of operating on both gas and liquid fuels, the
machine defines a new era of flexible and efficient power generation. The
LMS100 provides full output within 10 minutes of a cold start. With
unparalleled efficiency and flexibility, the LMS100 is an ideal solution for
power generation planners and developers needing to support variable loads.

For more information please visit: www.cpvsentinel.com

About Competitive Power Ventures
Competitive Power Ventures, LLC (CPV) is dedicated to increasing North
America's sustainability; both economically and environmentally. Using
domestically available energy sources, like wind and natural gas, and
partnering with host communities to support their tax base and school
districts, CPV works to stabilize and improve local and state economies.
Headquartered in Silver Spring, Md., with offices in Braintree, Mass., San
Francisco, Calif., and Toronto, Ontario, the company currently has 5,000 MW of
conventional generation projects in various stages of development. The
company's Asset Management division has ramped up to more than 4,200 MW of
natural gas generation under management and has been expanding into wind
generation facility management. CPV Renewable Energy Company (REC) is
currently developing 1,300 MW of wind power projects across North America,
with plans for more. CPV REC has recently expanded its development portfolio
to include utility-scale solar power generation.

About GE Energy Financial Services
GE Energy Financial Services—GE's energy investing business—works as a
builder, not just a banker, to help meet the world's power and fuel needs. We
offer more than money—expertise—for essential, long-lived and
capital-intensive power, oil and gas infrastructure—GE's core
business. Drawing on GE's energy technical know-how, financial strength and
risk management, we see value where others don't and take on our customers'
toughest challenges with flexible equity and debt transaction
structures. Based in Stamford, Connecticut, GE Energy Financial Services holds
an approximately $20 billion global energy portfolio. More information:
 www.geenergyfinancialservices.com. Follow GE Energy Financial Services on
Twitter: @GEEnergyFinServ 

About GE
GE (NYSE: GE) works on things that matter. The best people and the best
technologies taking on the toughest challenges. Finding solutions in energy,
health and home, transportation and finance. Building, powering, moving and
curing the world. Not just imagining. Doing. GE works. For more information,
visit the company's website at www.ge.com.

About Diamond Generating Corporation
As a wholly owned subsidiary of Mitsubishi Corporation, one of the world's
most diverse enterprises, with over 500 subsidiaries and affiliates worldwide,
Diamond Generating Corporation ("DGC") has developed a reputation for
financial strength and long-term stability. DGC's expertise in power
development and generation, including greenfield development, acquisition,
fuel procurement, financing, construction, operations services and asset
management has resulted in a portfolio of efficient, state-of-the-art,
environmentally sound generating facilities. Headquartered in Los Angeles, DGC
currently owns 10 operating power generating facilities around the U.S.
totaling 5,000MW, with about 1,850 MW of net equity. Of these projects, two
are wind projects and the remainder of the portfolio is natural-gas fired. DGC
currently operates four of its facilities in California.

SOURCE Competitive Power Ventures

Website: http://www.cpvsentinel.com
Contact: Braith Kelly, Competitive Power Ventures, (860) 546-2008,
bkelly@cpv.com
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