SUEZ Energy North America Affiliate Signs Agreement to Acquire FirstLight Power Enterprises,...

SUEZ Energy North America Affiliate Signs Agreement to Acquire FirstLight
Power Enterprises, Inc.

HOUSTON and HARTFORD, Conn., Sept. 2 /PRNewswire/ -- SUEZ Energy North
America (SUEZ Energy) and FirstLight Power Enterprises, Inc. (FirstLight)
today announced the signing of an agreement to acquire FirstLight from Energy
Capital Partners. FirstLight owns and operates a unique portfolio of 15 power
generation plants -- primarily pumped storage and traditional hydro facilities
-- and has a state-of-the-art natural gas peaking facility in advanced
development. Together, these 16 facilities have a combined capacity of 1,538
MW in Massachusetts and Connecticut. In addition, FirstLight has various
expansion opportunities within its portfolio.
"The FirstLight portfolio offers tremendous scale to SUEZ Energy's power
generation position in the critical New England market as the company's 16
plants, when combined with our own current assets, will make us the fifth
largest generator in New England," said Zin Smati, president and CEO of SUEZ
Energy North America. "Of equal importance are the high quality of the
employees and the diversity of FirstLight's assets by generation type and by
location as they are within Massachusetts and Connecticut, the two most
populous states in the region."
"FirstLight will complement SUEZ Energy's existing group of generating
assets in New England and eastern Canada and will solidify our presence in a
sizable and growing electricity market," said Dirk Beeuwsaert, CEO of GDF SUEZ
Energy International. "The FirstLight facilities have an excellent operating
track record and strategic location. We believe these facilities will make an
immediate contribution to the group and are pleased with the company's growth
opportunities."
"This transaction represents a win-win as it is beneficial to FirstLight's
constituents and enhances an already strong business position for GDF SUEZ in
North America," said Curt Morgan, President and CEO of FirstLight Power
Enterprises. "We are very enthusiastic about our business combining with one
of the world's preeminent energy companies."
New England, with a population of 14 million and 31,000 MW of electric
generation capacity, is a core market for SUEZ Energy. The company currently
has six renewable and natural-gas-fired power generation assets in the region;
retail electricity sales to large commercial and industrial customers; and
natural gas sales to nearly every gas utility in New England through its
liquefied natural gas (LNG) business.
About SUEZ Energy North America
SUEZ Energy North America, Inc. manages a range of energy businesses
within the United States, Mexico, and Canada, including electricity generation
and cogeneration, natural gas and liquefied natural gas (LNG), asset-based
trading and origination, and retail energy sales and related services to
commercial and industrial customers. SUEZ Energy North America owns and/or
operates a total of 47 power, cogeneration, steam, and chilled-water
facilities, including those in construction, representing a capacity of more
than 6,382 MW of electricity generation, 6.0 million pounds per hour of steam,
and 41,973 tons per hour of chilled water. SUEZ Energy North America's wholly
owned subsidiary, Distrigas of Massachusetts, owns and operates a liquefied
natural gas receiving terminal in Everett, Mass., which began operations in
1971 and currently serves most of the gas utilities in New England and key
power producers, meeting approximately 20 percent of New England's annual gas
demand. In addition, SUEZ Energy North America has an LNG deepwater port under
construction off the coast of Massachusetts and another LNG deepwater port
project under development off the coast of Florida.
SUEZ Energy North America is part of the international energy group, GDF
SUEZ. For more information, please visit http://www.suezenergyna.com.
About GDF SUEZ
One of the leading energy providers in the world, GDF SUEZ is active
across the entire energy value chain, in electricity and natural gas, upstream
to downstream. It develops its businesses (energy, energy services and
environment) around a responsible-growth model to take up the great
challenges: responding to energy needs, ensuring the security of supply,
fighting against climate change and maximizing the use of resources. GDF SUEZ
relies on diversified supply sources as well as flexible and high-performance
power generation in order to provide innovative energy solutions to
individuals, cities and businesses. The Group employs 196,500 people worldwide
and achieved revenues of euro 74,3 billion in 2007. GDF SUEZ is listed on the
Brussels, Luxembourg and Paris stock exchanges. For more information, please
visit http://www.gdfsuez.com.
About FirstLight Power Enterprises
FirstLight Power Enterprises, Inc., an Energy Capital Partners portfolio
company, is a premier New England-based power generating company. FirstLight's
assets include the Northfield Mountain pumped-hydro storage facility located
in Northfield, Mass.; the coal-fired Mt. Tom Station in Holyoke, Mass.; and 13
additional predominantly hydro facilities along the Connecticut, Housatonic,
Shetucket and Quinebag Rivers in Conn. and Mass. FirstLight is also developing
a gas-fired peaking plant in Waterbury, Conn. and other power projects to
serve Conn, and Mass. FirstLight has 235 employees. For additional
information, go to http://www.FirstLightPower.com.
About Energy Capital Partners
Energy Capital Partners is a private equity firm dedicated to investing in
the power generation, midstream gas, renewable and electric transmission
sectors of North America's energy infrastructure. The firm's management has
substantial experience leading successful energy companies and energy
infrastructure investments. ECP has offices in Short Hills, N.J., and San
Diego, Calif. For more information, visit http://www.ecpartners.com.
SOURCE SUEZ Energy North America

Julie Vitek of SUEZ Energy North America, +1-713-636-1962, mobile,
+1-617-593-2122, Julie.vitek@suezenergyna.com; or Jim Ginnetti of FirstLight
Power Enterprises, +1-860-895-6918, mobile, +1-860-752-8008,
jginnetti@firstlightpower.com