Allegiance Capital Supports 'Winds of Prosperity' Study

DALLAS, May 20 /PRNewswire/ -- Allegiance Capital Corporation (ACC), an investment bank serving primarily privately-held middle-market companies, is an active supporter of the "Winds of Prosperity" study released today by The Perryman Group. In February 2010, ACC Vice President Dan Vermeire was elected to Texans for Sustainable Energy Solutions (TSES), a group of business leaders formed to support the Competitive Renewable Energy Zone (CREZ) initiative. Vermeire has facilitated several transactions for private companies in the renewable energy and transmission and distribution (T&D) sectors driven by the economic benefits of renewable energy.  

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"The CREZ transmission lines are instrumental to unlocking the enormous potential of renewable energy in Texas," said Vermeire. "If Texas were a country, it would rank 4th in the world in installed wind power. Further, Texas leads the U.S. in potential wind and solar resources, only a fraction of which have been realized to date. CREZ helps ensure that Texas continues its leadership role as an 'energy state'. The benefits to Texans include a stable electricity supply, growth in manufacturing and more jobs state-wide."

According to the study, investment in new wind turbines and CREZ transmission lines that deliver wind power throughout the state will create $30 billion in economic gains, employ thousands and bring in almost $2 billion in additional state and local taxes. The typical Texas residential consumer is expected to potentially save $160 to $355 annually in electricity bills, once new transmission lines are completed. With an estimated cost of around $5 billion, investment in the CREZ lines is one of several initiatives being considered by the Electric Reliability Council of Texas to alleviate current grid constraints and accommodate future growth. The CREZ initiative allows the transmission of power from wind-intensive regions of the state to population centers with growing needs for power.

Allegiance Capital is active in transactions involving wind projects, solar developments and associated manufacturing firms. 

"We see a growing appetite among investors for companies in the renewable energy and T&D space as both sectors rise to meet the world's increasing energy demands," said Vermeire.

About Allegiance Capital

Allegiance Capital Corporation is a full-service investment banking firm specializing in the middle market (companies with revenue from $20 million to $500 million), with offices in Chicago, Dallas, New York, Madrid, Minneapolis/St. Paul, Seattle, and Shanghai.  Through its global network, Allegiance Capital assists companies in every aspect of selling and financing a business, including debt restructuring, mezzanine financing, executing leveraged buy outs, strategic partnering, consulting and other related services.  For more information, refer to the company website: www.allcapcorp.com.

SOURCE Allegiance Capital Corporation

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