Denver City, TX, April , 2011- Arclight Capital Partners, LLC ("Arclight") and Golden Spread Electric Cooperative, Inc. ("Golden Spread") announced that they have completed the sale to Golden Spread of Denver City Energy Associates, LP ("Denver City"), owner of a 50% undivided interest in Mustang Station, a 487 MW natural-gas fired, combined-cycle generation power facility located outside of Denver City, Texas. GS Electric Generating Cooperative, Inc., an affiliate of Golden Spread, owns the remaining 50% interest in Mustang Station. The transaction closed on June 3, 2011.
Priorto the closing, Denver City operated Mustang Station and sold its share of Mustang Station's energy and capacity to Golden Spread under a long-term power purchase agreement. Denver City was indirectly owned by Great Point Power, LLC, a subsidiary of Arclight Energy Partners Fund IV, L.P. With the closing, affiliates of Golden Spread now own 100% of Mustang Station.
About Arclight Capital Partners, LLC
Arclight is a leading energy investment firm with more than $7 billion under management. Arclight's investment team has extensive energy investing experience, industry relationships, and asset level knowledge. Arclight is headquartered in Boston, Massachusetts with offices in New York City, Barcelona and Luxembourg.
About Golden Spread Electric Cooperative, Inc.
Golden Spread Electric Cooperative, Inc. is a tax-exempt, consumer-owned public utility, organized in
1984 to provide low cost, reliable electric service for its rural distribution cooperative members. Its 16 member systems serve more than 225,OOO retail consumers located in the Oklahoma Panhandle and an area covering 24 percent of Texas including the Panhandle, South Plains and Edwards Plateau regions.
For more information, contact Mark W. Schwirtz with Golden Spread Electric Cooperative, Inc. at 806-
379-7766 or Heidi Milne with Arclight Capital Partners at 617-531-6304.