Harbert Management Corporation Affiliate Gulf Pacific Power, LLC to Acquire an 80% Cash Equity Interest in Rocky Caney Portfolio

BIRMINGHAM, AL--(Marketwired - November 30, 2017) - Harbert Management Corporation ("HMC") is pleased to announce that Gulf Pacific Power, LLC ("GPP") has entered into definitive agreements with Enel Green Power North America, Inc. ("EGPNA") to acquire an indirect 80% cash equity interest in Rocky Caney Wind, LLC ("Rocky Caney Wind"). Rocky Caney Wind owns two wind farms: the 200 MW Caney River facility in Elk County, Kansas and the 150 MW Rocky Ridge facility in Kiowa and Washita Counties, Oklahoma. Caney River began commercial operations in 2011, selling all of its output under long-term contract to the Tennessee Valley Authority, and Rocky Ridge began commercial operations in 2012, selling its output to Western Farmers Electric Cooperative under a long-term contract.

GPP was formed to make equity investments in North American power assets and is backed by commitments from the California Public Employees' Retirement System ("CalPERS") and HMC affiliates. Rocky Caney Wind is the fourth investment for GPP, and follows earlier acquisitions of ownership interests in Northern Star Generation, a portfolio of seven electric generation facilities with a combined net capacity of 1,251 MW; Astoria Energy II, a 575 MW combined cycle power plant in New York City; and Desert Sunlight, a 550 MW(ac) solar photovoltaic power generation facility in eastern Riverside County, California.

"We are proud to be involved in Rocky Caney Wind. This portfolio of wind plants is amongst the highest quality wind assets in the Midwest and will continue to provide clean, reliable power to the region for many years to come," a spokesman for HMC said. "We are also pleased to be partnering with Enel Green Power, who is one of the leaders in wind power generation in North America."

Following the closing of the transaction, EGPNA will continue to manage, operate and perform maintenance activities at both wind farms.

K&L Gates acted as legal counsel to GPP for the transaction.

About HMC

HMC, an alternative asset management firm with approximately $5.1 billion in Regulatory Assets Under Management as of October 31, 2017, is a privately owned firm formed in 1993 to sponsor alternative asset investment funds. HMC serves foundations and endowments, funds of funds, pension funds, financial institutions, insurance companies, family offices, and high net worth individuals across multiple asset classes. Investment strategies include independent power, European and U.S. real estate, seniors housing, growth equity, credit solutions, European growth capital, and public securities. Additional information about HMC can be found at www.harbert.net.

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