Noble Environmental Power Cuts Ribbon On New York’s Newest Windparks

CHURUBUSCO, N.Y. (05/17/2008)(readMedia)-- Noble Environmental Power, a leading wind energy developer, today held a joint ribbon-cutting ceremony to mark the start of operations at New York State’s newest windparks. State and local government officials and other community and industry partners joined Noble at today’s ceremony held in the town of Churubusco, in Clinton County, New York.

“Wind energy is moving New York towards energy independence and a cleaner environment and these new windparks play a critical part,” Noble Environmental Power CEO Walt Howard said. “The availability of this clean, renewable energy source means that New Yorkers have better energy choices that protect our environment and improve our lives. We look forward to building on the tremendous progress that has been made here in New York.”

The 100.5 megawatt Noble Clinton Windpark and the 81 megawatt Noble Ellenburg Windpark, both located in Clinton County, will generate enough clean energy to power 60,000 homes. Together the two Noble windparks represent a $360 million investment in clean, renewable energy that will bring an estimated $231 million in new revenue to the local economies of Clinton and Ellenburg over the next 20 years.

At today’s ceremony, Mr. Howard also announced the company will hold a second ribbon-cutting ceremony on May 18 to officially mark the start of operations at the new 100.5 megawatt Noble Bliss Windpark, located in Wyoming County, New York. The Noble Bliss Windpark represents a $200 million investment, is expected to bring $121 million in new revenue to the local economy of Bliss over the next 20 years, and will generate enough clean energy to power 33,000 homes.

Vincent A. DeIorio, the Chairman of the New York State Energy Research and Development Authority said, “The investments we are recognizing today illustrate that New York State is becoming a leader in the area of renewable energy development and the creation of a green collar work force. Combined with the energy production from the many other wind, hydroelectric, and biomass facilities participating in the Renewable Portfolio Standard program, the energy produced by these wind farms will contribute significantly in helping us achieve the goal to have 25% of New York’s electricity needs met by renewable energy by the year 2013. We commend the Noble team in their efforts to bring these projects to fruition.”

“By providing 188 wind turbines and capital for these New York State projects, GE is helping Noble grow, and helping New York State meet its Renewable Portfolio Standard goals,” said Kevin Walsh, Managing Director and leader of renewable energy at GE Energy Financial Services. “As well, this marks GE Energy Financial Services' first investment in wind energy in New York State and paves the way for what we hope are many more successful collaborations between GE and Noble Environmental Power.”

New York’s Renewable Portfolio Standard (RPS) was established by then-Gov. George Pataki in 2003 and has been reaffirmed by Gov. David Paterson, whose Renewable Energy Task Force recently issued its first report. Among other notable recommendations the Task Force highlighted the importance of the RPS and strongly encouraged the Public Service Commission to continue full funding of the program.

When fully implemented, the RPS is expected to result in a cleaner environment in New York State by reducing emissions of carbon dioxide by 7.7 percent, nitrogen oxide by 6.8 percent, and sulfur dioxide by 5.9 percent. Unlike fossil fuels, wind energy creates zero emissions and reduces the amount of toxins in the air and water.

"The opening of these windparks and others across the U.S. is the clearest possible demonstration of how protecting the environment and creating new jobs and economic development can go together. More wind power today means a better tomorrow," said Tom Gray, Deputy Executive Director of the American Wind Energy Association.

Combined figures for the Noble Clinton, Ellenburg, and Bliss Windparks:

• 282 megawatts
• 188 GE 1.5 megawatt wind turbines
• A 70% increase New York’s installed wind capacity
• A $564 million investment in clean, renewable energy
• Enough clean electricity to power 93,000 homes
• Over the next 20 years, clean electricity production equivalent to burning 6.3 million tons of coal
• Over the next 20 years, an estimated $352 million in new revenue to the local economies

By the end of 2008, Noble is scheduled to have a total of 633 megawatts of clean, renewable energy online in New York State, making it New York’s largest wind developer. In all, these projects represent a total investment of approximately $1.3 billion in the state's renewable energy infrastructure.

Noble is a leading renewable energy company that is majority owned by funds affiliated with JPMorgan Partners, LLC, which are managed by CCMP Capital Advisors, LLC. Noble was founded in 2004 in response to public policy initiatives designed to foster the increased use of renewable energy sources. Noble is committed to creating environmentally friendly facilities in partnership with local communities. Based in Essex, CT, Noble has offices in Altona, Churubusco, Arcade, Bliss, and Fredonia NY; Ubly, MI, Rutland, VT and Lancaster, NH. For more information, please visit www.noblepower.com, or send an email to info@noblepower.com.

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