Element Power Acquires 1.4GW of U.S. Wind Energy Assets from EcoEnergy

"The acquisition of these wind power projects from EcoEnergy augments both our greenfield development efforts and our previous acquisitions, and contributes to our portfolio of well positioned, high quality assets," stated Raimund Grube, Element Power’s President and COO for North America. "By adopting a targeted and highly selective project acquisition strategy in key markets, we have created excellent 2010 and 2011 build opportunities in both solar and wind energy."

Over the last year private equity-backed Element Power has built a North American portfolio of nearly 4 GW of wind power and solar assets, covering more than 25 states in the U.S. In addition, Element Power has an industry-leading portfolio of operating and development-stage wind and solar assets located across Europe and South America.

EcoEnergy’s President, Shawn Gaffney, noted “Element Power clearly has a uniquely qualified and highly experienced world-class team. They are committed to the business and have demonstrated repeatedly the ability to take projects from development and into profitable operation.”

"2009 was a stellar year for Element Power’s North American business", said Ty Daul, Element Power’s North American CEO. "Not only did we build an unparalleled set of clean energy development opportunities for 2010 and beyond, but we also assembled an industry leading management team with a history of seeing through quality renewable energy projects from conception to completion.”

This statement does not constitute an offer of sale, or a solicitation of investors or purchasers, in respect of the securities of any person in any jurisdiction.

Element Power is a global renewable energy company backed by Hudson Clean Energy Partners (www.hudsoncep.com), a leading private equity fund that invests in clean energy. Element Power’s North American team consists of leading industry professionals and covers all aspects of the business from resource assessment and development through origination, financing and construction.

The senior management team leading these activities includes: Chris Taylor, Scott Healy, Ali Amirali, Emily Sanders, Joel Link, and David Stoner. Anders Glader, who will be heading up the firm’s origination efforts, will join the team in late February.