Gulf Pacific Power Acquires Majority Stake In Wind Portfolio

Birmingham, AL, – Harbert Management Corporation (“HMC”) is pleased to announce that Gulf Pacific Power, LLC (“GPP”) has completed the acquisition of an 80% stake in EGPNA Renewable Energy Holdings, LLC (“REP”), a holding company that owns an 812 MW portfolio of five operating wind projects located in the United States and Canada. GPP formed Gulf Plains Wind, LLC (“Gulf Plains Wind”) to acquire the interest in REP from GE Energy Financial Services and Enel Green Power North America, Inc. (“EGPNA”). EGPNA has retained a 20% stake in REP and will continue to operate the five wind projects. Financial terms of the transaction were not disclosed.