Headwaters MB advised Marubeni Sustainable Energy, a leader in renewable energy, on its sale to Korea East-West Power.
This transaction represents Korea East-West Power's first investment in the United States, and the first direct investment in US electricity production by a Korean power generation company. Marubeni Sustainable Energy has an operating portfolio totaling 70 megawatts of clean energy production, consisting of three biomass power plants and one natural gas cogeneration power plant located in California, New Hampshire and New York respectively.
"This transaction required a broad reach across the renewable energy sector in order to find the ideal partner to maximize the value of these assets," said Terry Williams, President and CEO, Marubeni Sustainable Energy. "Headwaters provided depth and reach, and from start to finish provided a high-touch, high-quality service experience to Marubeni Sustainable Energy. We are now ideally positioned with an excellent partner to execute our long-term growth strategy."
About Marubeni Sustainable Energy
Marubeni Sustainable Energy Corp. has just under 100 US employees will continue their goal of increasing production of renewable energy and improving efficiency. They anticipate to finishing 2010 with their highest production ever of over 375,000 megawatt hours of clean renewable energy. For additional information, visit www.marubeni.com
About Korea East-West Power Company
Korea East-West Power Company owns and operates more than 9,500 megawatts of power generation facilities in Korea with an additional two new units totaling 1,000 megawatts under construction. Korea East-West Power Company has also been actively expanding its activities internationally, by participating in various projects in Haiti,Indonesia, Vietnam, Guam, Philippines, Chile and other countries. For additional information, visit www.ewprc.com