10 April 2008 Navasota Energy Announces Review of Strategic Alternatives
FOR IMMEDIATE RELEASE
NAVASOTA ENERGY ANNOUNCES REVIEW OF STRATEGIC ALTERNATIVES
HOUSTON, TX (April 10, 2008) – Navasota Energy Partners LP (“Navasota” or the “Company”) announced today that it is undertaking a review of monetization alternatives in connection with its wholly owned interests in two newly constructed combined-cycle generating projects, Colorado Bend Energy Center (“CBEC”) located in Wharton, Texas, and Quail Run Energy Center (“QREC”) located in Odessa, Texas. Navasota’s plants are the latest generation additions in ERCOT. The plants employ highly efficient GE turbine technology and are configured to be the most dynamic and rapid response units currently operating in ERCOT.
The development of each plant (QREC and CBEC) has been performed in three individual phases. Phases I, II and III for each plant consist of 275MW, for a total design capacity at each plant of 825MW and a total portfolio capacity of 1,650MW. An overview of the development program is provided here:
- Phase I of each plant has been operating since June 2007 (550MW total)
- Phase II of QREC and CBEC are each in final construction stages and are scheduled for commercial operation in May and June of 2008, respectively (550MW total)
- Phases III of each plant are in the advanced stages of the required permitting process. Commercial operations are projected for late 2009 for each plant (550MW total)
Sean O’Donnell, (212) 622 – 6824, sean.odonnell@jpmorgan.com
Dheeraj Verma, (212) 622 – 0666, dheeraj.verma@jpmorgan.com
ABOUT NAVASOTA ENERGY Navasota Energy Partners LP is a Houston-based energy development and asset management company founded in May 2005. Navasota builds and manages power plants throughout the state of Texas. For more information, visit www.navasotaenergy.com. ##
