Starwood Energy Acquires a Majority Stake in Nautilus Solar Energy

GREENWICH, Conn., Jan. 12 /PRNewswire/ -- Starwood Energy Group Global, LLC
("Starwood Energy") announced today that an investment affiliate has acquired
a majority interest in Nautilus Solar Energy LLC ("Nautilus Solar"), a leading
solar power generation developer headquartered in Chatham, New Jersey, to help
fund future growth of Nautilus Solar. Specific terms of the transaction were
not disclosed. However, the companies said Starwood Energy's investment will
provide working capital and facilitate an expansion of Nautilus Solar's
corporate infrastructure. The funding also includes a $50 million commitment
for future Nautilus Solar projects.

Nautilus Solar develops, constructs, finances, owns and operates distributed
generation and utility-scale solar electric systems. Created in 2006 by
energy professionals Jim Rice, Laura Stern and Alan Dash, Nautilus Solar
currently has seven completed solar retail projects in operation and four
solar projects under construction in New Jersey and Connecticut. As one of
the fastest growing solar development companies in the United States, Nautilus
Solar has a project pipeline of over 500 MWs of solar generating capacity over
the next two years.

The investment significantly expands Starwood Energy's focus on the solar
energy sector. In late 2007, Starwood Energy reached a teaming agreement with
Lockheed Martin to pursue utility-scale solar generation projects in North
America. Nautilus Solar personnel have been and will continue to work closely
with Starwood Energy on its solar generation projects with Lockheed Martin.

"We are excited to complete this majority investment in Nautilus Solar," said
Brad Nordholm, CEO of Starwood Energy in Greenwich, Connecticut. "Jim Rice,
Alan Dash, and Laura Stern have, in a very short period of time, demonstrated
significant leadership in building Nautilus into the company it is today, with
a number of solar projects already completed and several more in advanced
stages of development. We see Nautilus Solar as a foundational component of
our solar growth strategy and look forward to expanding our footprint in the
retail, wholesale, and utility-scale solar sectors in 2009."

"We are proud to have the opportunity to join the Starwood family and bring
our capabilities to bear on Starwood Energy's goal of market leadership in
solar," added Jim Rice, CEO of Nautilus Solar. "Starwood Energy has
consistently been at the forefront of innovation in energy and power. Their
leadership includes sponsoring undersea transmission lines and structuring
financing during particularly tough market conditions; signing a teaming
agreement with Lockheed Martin, the global technology and engineering firm;
and pursuing utility-scale solar development opportunities across America.
The collaboration of Nautilus Solar, Starwood, and Lockheed represents a
powerful combination of tested capabilities and experience."

About Starwood Energy Group Global, LLC

Starwood Energy is an affiliate of Starwood Capital Group Global, LLC, a
multi-billion dollar private equity investment firm located in Greenwich, CT.
Since 2005, Starwood Energy has committed to energy infrastructure
transactions totaling $3.2 billion of enterprise value, including the Neptune
Regional Transmission System, a 660 MW undersea power cable connecting Long
Island to New Jersey, CalPeak Power, LLC, a 260 MW portfolio of five natural
gas-fired peaking power plants in California, and the 272 MW Thermo Ft. Lupton
combined-cycle plant in Colorado. Starwood Energy also anticipates completion
in May 2009 of its 120 MW Starwood-Midway power plant now under construction
in California.

SOURCE Starwood Energy Group Global, LLC

Tom Johnson or Amy Robinson, both of The Abernathy MacGregor Group,
+1-212-371-5999, for Starwood Energy Group Global, LLC