Diamond Generating Corporation Announces Acquisition of Wildflower Project from InterGen.LOS ANGELES Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. -- Diamond Generating Corporation ("DGC DGC Directors Guild of Canada DGC Distributed Garbage Collector DGC Dystrophin-associated Glycoprotein Complex DGC Data General Corporation DGC Dakota Gasification Company DGC Dirección General de Caminos (Guatemala) ") announced that it has entered into an agreement with InterGen to purchase InterGen's Wildflower wildflower Any flowering plant that grows without intentional human aid. Wildflowers are the source of all cultivated garden varieties of flowers. A wildflower growing where it is unwanted is considered a weed. Project, located in California. The transaction is subject to certain governmental approvals and the parties expect to close the transaction by mid-October. The Wildflower Project consists of two power plants in Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, : (1) the Indigo plant indigo plant Any shrub or herb in the genus Indigofera of the pea family (see legume). Most occur in warm climates and are silky or hairy. The leaves are usually divided into smaller leaflets. Small rose, purple, or white flowers are borne in spikes or clusters. located near Palm Springs with output capacity of 138MW and (2) the Larkspur Larkspur, city, United States Larkspur, city (1990 pop. 11,070), Marin co., W Calif., a prestigious residential suburb of San Francisco near Mt. Tamalpais; inc. 1908. The region's scenic beauty and excellent beaches attract many visitors. plant located near San Diego with output capacity of 94MW. The two power plants are powered by five GE LM-6000 Sprint gas turbines. The Project will continue to sell 100 percent of it's capacity and energy under tolling agreements with Shell affiliates, Coral Power, L.L.C. and Coral Energy Management, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control . DGC's strategy is to expand its business through the development and acquisition of power projects in which it will hold the majority ownership interests. The acquisition of the Indigo and Larkspur plants is an implementation of this strategy. In this transaction, Dexia Global Structured Finance and Milbank, Tweed, Hadley & McCloy were retained by DGC as its financial advisor and legal advisor respectively. About Diamond Generating Corporation DGC is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Mitsubishi Corporation and is based in Los Angeles, California. DGC is a developer, owner and operator of privately owned power projects in the United States. It currently has ownership interest in seven gas-fired power projects, having total output capacity of approximately 6,000MW, with net equity of 1,700MW. About InterGen InterGen is a global power generation firm and is operating or building a total of 20 power stations representing over 16,000MW. InterGen has projects operating, under construction and/or in active development in the United States, the United Kingdom, the Philippines, Colombia, Mexico, China, Egypt, Turkey, Australia, the Netherlands, Spain, Germany and Singapore. InterGen is a Shell-Bechtel venture. About Mitsubishi Corporation Mitsubishi Corporation is a trading and investment company engaged in a wide range of businesses, including information technology and electronics, energy, metals, machinery, chemicals and general merchandise. As one of the world's most diverse business enterprises, Mitsubishi Corporation works closely with its global clientele to develop new businesses through project coordination, sourcing of raw materials, capital investments and the development of sales and marketing channels. The company operates more than 200 offices in Japan and has more than 500 subsidiaries. In its 2004 fiscal year, Mitsubishi Corporation's total trading transactions were $146 billion and its net income was $1.1 billion. |
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