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HOUSTON, TX, June 29, 2005 -- Rockland Capital
Energy Investments, LLC "Rockland"
announced today that it, along with its partners,
Lightyear Capital and D. Milne Associates, has
sold its interests in Ripon Cogeneration, LLC
to Countryside Power Income Fund (TSX:COU.UN).
Ripon Cogeneration, LLC owns and operates the
51 MW Ripon cogeneration facility located 70
miles south of Sacramento, California, and the
44 MW San Gabriel cogeneration facility, located
in Pomona, California. Both facilities are fueled
with natural gas and hold long-term agreements
to serve regulated utilities in their respective
service areas. The transaction was structured
as a sale of 100% of the interests of Ripon
Cogeneration's holding company, Lightyear Rockland
Partners, LLC.
Rockland continues to own and operate Prime
Energy, LP, a New Jersey cogeneration project,
and remains active in project acquisition, management,
restructuring and development for the U.S. and
international power markets.
"The divestiture of the Ripon projects
is consistent with our business philosophy to
continually evaluate our assets in light of
market opportunities," said Scott Harlan,
Chief Operating Officer and Managing Director
of Rockland. "In our short period of ownership
we were able to create value from both an operational
and contractual standpoint. In addition, Rockland
benefited from its willingness to invest in
the California market prior to its full recovery."
Rockland is a private energy investment firm
managed by Scott Harlan and David Yeager in
Houston. Rockland is active in the European
markets through its affiliate in London managed
by Martin Pickard. The firm was created in 2003
to capitalize on the substantial business opportunities
in the deregulated power industry in North America
and Europe. |
