Riverstone Holdings Acquires Seven Gas-Fired Power Generation Facilities

HOUSTON and NEW YORK, Oct. 7, 2011 /PRNewswire/ -- The Riverstone/Carlyle Global Energy and Power Funds, a group of energy-focused private equity funds managed by Riverstone Holdings LLC ("Riverstone"), announced today that one of its indirect special-purpose subsidiaries, Sapphire Power Holdings,  has completed the acquisition of a 778 MW portfolio of gas-fired power generation facilities ("the Portfolio") from the Morris Energy Group, a private power generation company headquartered in Eatontown, New Jersey. The terms of the transaction were not disclosed.

The Portfolio, which includes seven combined-cycle gas-fired plants and one gas-fired peaking unit, is strategically located in the competitive power markets of the Northeast Region of the United States.  Six of the plants, which together have generating capacity of 689 MW, are located in the eastern portion (New Jersey, Pennsylvania) of the PJM market. One plant, including a co-located peaking unit, is in the ISO New England market. Topaz Power Group ("Topaz"), a Riverstone affiliate, will serve as asset manager for the Portfolio. Topaz has a strong track record of managing and operating plants similar to those being acquired. With the Sapphire acquisition, Topaz has 2,779 MW of Riverstone-owned generating capacity under management.

About Riverstone Holdings LLC

Riverstone Holdings LLC, an energy and power-focused private equity firm founded in 2000, has approximately $17 billion under management across six investment funds, including the world's largest renewable energy fund. Riverstone conducts buyout and growth capital investments in the midstream, exploration & production, energy services, power and renewable sectors of the energy industry. With offices in New York, London and Houston, the firm has committed approximately $16.3 billion to 79 investments in North America, Latin America, Europe and Asia. For more information, visit www.riverstonellc.com.

About Topaz Power Group

Topaz Power Group is a Texas-based independent power producer owned by Riverstone Holdings.  Originally formed in 2004 with the acquisition of nine power plants in Texas, Topaz focuses on the development, operation, and asset management of power generation assets across the U.S.

Contact:
For Riverstone Holdings LLC:
Jeffrey Taufield or James David
Kekst and Company
212-521-4800

SOURCE Riverstone Holdings LLC

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