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LSP Energy Announces Request to Transfer Power Purchase Agreement.

HOUSTON -- LSP Energy L.P. has announced it has received a request to transfer the Power Purchase Agreement ("PPA") in place between LSP Energy and Virginia Electric and Power Company ("DVP") for its Batesville Generating Facility. DVP has requested to transfer its interests in the PPA to J. Aron & Company, the commodities sales and trading subsidiary of The Goldman Sachs Group, Inc. ('Goldman Sachs"). Goldman Sachs will provide a guaranty of all obligations and liabilities of J. Aron & Company under the PPA.

LSP Energy is currently reviewing the request. If approved, it is likely that the PPA will be transferred soon.

LSP Energy is owned and operated by Complete Energy Holdings, LLC, a privately-held acquirer, owner and operator of power generation assets.

ABOUT COMPLETE ENERGY

Complete Energy is an acquirer, owner and operator of power generation assets, with offices in Houston, TX, Pittsburgh, PA, and Minneapolis, MN. It is led by industry veterans Lori Cuervo, Peter Dailey, Milton Scott and Hugh Tarpley. Complete Energy is actively acquiring other merchant and contracted power plants currently being divested by utilities, independent power producers, and financial institutions. Complete Energy's financing investor is Engage Investments, L.P., a private equity company funded by the Erving Wolf family. Complete Energy is allied with Power Plant Professionals, LLC, an experienced operations and maintenance provider headquartered near Charlotte, N.C., and Fulcrum Power Services, LP, a leading commercial energy services company headquartered in Houston. For more information, visit www.complete-energy.com.
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Publication:Business Wire
Geographic Code:1USA
Date:May 11, 2005
Words:244
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