EDF Renewable Energy Announces Partnership with Marubeni Corporation

  EDF Renewable Energy Announces Partnership with Marubeni Corporation

Business Wire

SAN DIEGO -- January 7, 2014

EDF Renewable Energy and Marubeni Corporation announced today that a
subsidiary of Marubeni acquired a 90 percent economic interest in the 102.5 MW
Shiloh IV Wind Project.

The Shiloh IV Wind Project, located in Solano County, California, commenced
operations in December 2012 and supplies carbon-free electricity into the
CAISO transmission system under a 25-year power purchase agreement with
Pacific Gas and Electric. Consisting of 50 REpower MM92 turbines, Shiloh IV
generates clean electricity sufficient to supply approximately 40,000 average
homes.

EDF Renewable Energy will retain a 10 percent stake in the project. Its
affiliate EDF Renewable Services will continue to provide operations and
maintenance services. Marubeni will participate in asset management roles
working with EDF Renewable Energy in the administration of the project.

“EDF Renewable Energy values this partnership with Marubeni and the
opportunity to engage in another successful transaction,” said Raphael
Declercq, Director of Divestiture and Portfolio Management. “This sale
illustrates our ability to recycle capital to fund future development while
staying fully involved in the project. This is an important aspect of our
business model that allows us to further our ambition as a world-class
renewable project developer.”

“With this investment we recognize the experience and successful track record
of EDF Renewable Energy and we look forward to strengthening our relationship.
Marubeni is committed to expanding our power generation portfolio in North
America and other global markets,” said Toshi Fukumura, President and CEO of
New York-based Marubeni Power International, Inc.

AboutEDF Renewable Energy:

EDFRenewable Energy 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, 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 Marubeni Corporation:

Marubeni Corporation was founded in 1858 and incorporated in 1949 with its
principal office located in Tokyo, Japan. It manages business across a wide
range of industrial sectors throughout the world, and is a publicly traded
company quoted on three stock exchanges in Japan: Tokyo, Osaka, and Nagoya.
Marubeni first established its power industry presence through the EPC
business, with more than 96.5 GW supplied/constructed all over the world in
various fuel and technology types. Marubeni expanded its business into the IPP
arena in the early 1990s, and now owns 10,222 MW of net generating capacity
(34,089 MW gross capacity). Marubeni manages its electricity sector
investments in the North American electricity market through Marubeni Power
International, Inc., based in New York, NY. For more information, please visit
www.marubeni.com or www.marubeni-power.com.

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Contact:

EDF Renewable Energy
Sandi Briner, 858-521-3525
sandi.briner@edf-re.com
or
Marubeni Power International, Inc.
Xavier Tournier, 212-450-0640
Tournier-X@marubeni.com
 
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