Phase 3: Sweetwater Wind Power Project Placed Into Commercial Operation

Houston - DKRW Energy LLC announced the closing of the take-out equity funding and commercial operation for the 135-megawatt Phase 3 of its Sweetwater, Texas wind project development, now a 176-turbine, 264-megawatt wind farm, in Nolan County, Texas.

DKRW Energy LLC of Houston was the lead project developer. DKRW and its partners, Babcock & Brown and Catamount Energy Corp. completed the development, construction and financing of this third phase of the project and brought it to successful commercial operation on December 30, 2005.

Catamount and Babcock & Brown are equity investors in the project, known as Sweetwater Wind 3 LLC / Cottonwood Creek Wind Farm, along with several major financial institutions. The 90 wind turbines for this Phase 3 were supplied by GE Wind Energy. The power is being sold under a power purchase agreement with CPS Energy and Austin Energy.

"We have now completed 264 megawatts at the Sweetwater project site and are well on our way to reaching our initial target of 400 megawatts of installed capacity," said Jon Doyle, Partner of DKRW Energy LLC. "We are working to secure contracts for the sale of energy from our fourth Phase at Sweetwater, which is now planned for a 2007 in-service date."

"This development, when complete, will be one of the largest wind projects in the world," said Bob Kelly, Partner of DKRW Energy LLC. "This project continues to provide a reliable, cost effective source of renewable energy for Texas electric power consumers."

SOURCE: DKRW Energy LLC