News & Events

 CPV Taps Advisor for Wind Development Financing

September 12, 2006

Competitive Power Ventures has retained Marathon Capital to advise on raising equity financing for its 2,500 MW of wind power projects in development.

Marathon was chosen following an informal selection process in part because of its recent success advising Greenlight Energy, a Charlottesville, Va.-based wind developer, on finding a strategic partner.

CPV Wind Ventures, owned by subsidiaries of CPV and ArcLight Capital Partners, is actively bidding into utility requests for proposal for renewable generation and may look to start construction on some wind farms next year, says an industry source.

Officials at Marathon and CPV confirmed the appointment, declining further comment.

CPV in July bolstered its wind development portfolio with the acquisition of 1,000 MW of wind development projects from Distributed Generation Systems, Inc.

This followed the purchase of a large block of wind turbines from General Electric in May.

Separately, CPV announced today it has lined up some $200 million in financing from private equity shop Warburg Pincus for the development of a fossil fuel power generation portfolio of up to 6 GW.

The article was first published by SparkSpread, a real-time energy news service covering M&A, financing and energy trading.