United States Power Fund, L. P. – Investments as of September 2005
The US Power Fund is fully invested and has committed approximately $250 million to 13 generation and transmission assets. 

Astoria Energy
Astoria is a 500MW gas‑fired power plant under construction in Queens, New York, which will supply critical power to New York City when it begins commercial operations in early 2006.  The United States Power Fund, L.P. (“USPF”) extended a development loan to SCS Energy to fund late-stage development costs related to the Astoria project. As a result, USPF secured the opportunity to, and successfully made, a larger permanent equity investment in the Astoria construction financing.  The plant, which will employ commercially proven technology, will furnish power to New York City’s electric utility, Consolidated Edison, under the terms of a 10-year contract.  model  actual 1 actual 2

Blackhawk Power Station
Blackhawk, a 227MW gas‑fired QF is located in Borger, Texas, and sells power and steam under long-term contracts to Southwestern Public Service Company and Phillips Petroleum, respectively.  The project began operations in 1998, and employs commercially proven technology.    photo

Black River Power
In operation since 1988, Black River Power is a 50MW coal fluidized bed power plant located in Watertown, New York.  The plant sells power to Select Energy, Inc. under a power sales contract and purchase agreement.  photo

Crockett Cogeneration
Crockett is a 240MW gas‑fired cogeneration facility located in Crockett, California, just east of San Francisco.  In operation since 1996, the project is a qualifying facility that sells capacity and energy to Pacific Gas and Electric Company and steam to California and Hawaiian Sugar Company pursuant to long-term contracts, providing regular current cash flow.  photo

Glen Park Hydroelectric
The Glen Park Hydroelectric Project is a 32MW run-of-the-river facility on the Black River near Watertown, NY, approximately 70 miles north of Syracuse, New York.  The project is an Exempt Wholesale Generator (“EWG”) and is one of the largest independently owned hydroelectric facilities in New York State.  The project, which began operations in 1986, sells its power under contract to Niagara Mohawk.  

Hamakua Energy Partners
Hamakua is 60MW low-sulfur naphtha plant located in Honakaa on the big island of Hawaii. The plant has been in commercial operation since 2000 and sells power to the Hawaiian Electric Light Company under a power sales contract and purchase agreement.  photo

Linden Generating Station
Linden is a 25MW gas‑fired cogeneration plant located in Linden, New Jersey.  Linden sells power, steam, water, and air to General Motors (“GM”) under a long-term contract.  The GM Linden plant makes light trucks for sale throughout the U.S.  Linden uses commercially proven technology and has been operational since 1999.  photo

Loring Cogeneration
Loring is a 70MW natural gas fired cogeneration facility under development at the former Loring Air Force Base in northern Maine by Loring BioEnegy, LLC (“LBE”).  The United States Power Fund, L.P. (“USPF”) late-stage development funding to LBE, in the form of a development loan, will support completion of off take arrangements for sale of the electricity from the plant.  Steam sales are planned to existing and new customers in the empowerment zone/enterprise park where the plant will be located.  Natural gas sales to industrial customers will also supplement project revenues.  In conjunction with this funding, EIF secured the opportunity to make a permanent equity investment in the project’s construction financing.

MASSPOWER
MASSPOWER is a 270MW gas-fired, combined cycle cogeneration facility located in Springfield, MA. The project sells power to three different utilities under the terms of four power sales contracts, and sells up to 50,000 lbs/hr. of process steam to Solutia. The project employs commercially proven technology, and began commercial operations in July 1993.

Mustang Station
Mustang, a 490MW gas-fired Exempt Wholesale Generator is located in Denver City, Texas, and sells power to Golden Spread Electric Cooperative (Golden Spread owns a 50% interest in Mustang) under the terms of a long-term power purchase agreement.  Mustang, which employs commercially proven technologies and provides stable cash flows, started commercial operations in 1999.  photo

Neptune Regional Transmission System
Neptune RTS (“Neptune”) is a 53-mile, 660MW high voltage direct current (“HVDC”) transmission system that when constructed will interconnect the Long Island Power Authority (“LIPA”) with the PJM regional transmission organization (“PJM”) in Sayreville, NJ.  At the conclusion of a competitive process, Neptune was awarded a 20-year Firm Transmission Capacity Purchase Agreement (“FTCPA”) by LIPA to provide 660MW of firm transmission capacity. The project is projected to begin commercial operations in the summer of 2007.  map

Path 15 Upgrade
The Path 15 Upgrade is an 84-mile, 500-kilovolt transmission line and associated modifications to existing substations that was constructed in central California and began operations in December 2004.  The line increased capacity to northern California from southern California by 1,500MW - 5,400MW, while also boosting southbound deliveries.  The project developer, Trans-Elect, partnered with Pacific Gas & Electric, a California utility, and the Western Area Power Administration, one of four federal power marketing administrations within the U.S. Department of Energy, for the construction of the project.  Trans-Elect won the prestigious Infrastructure Deal of the Year 2003 Award by Project Finance International.   photo (courtesy of Maslonka Associates, An InfraSource Company)

Sea Breeze Regional Transmission System (“SF RTS”)
Sea Breeze was formed in the spring of 2004 to develop two 550MW High Voltage Direct Current (HVDC Light™) submarine transmission links spanning the Strait of Juan de Fuca between Canada and the U.S.  Juan de Fuca I (“JDF I” or the “Project”) consists of a single 550MW HVDC electric power transmission line with converter stations on both ends and high voltage AC power to local substations to interface with the local power grid.  JDF I will connect the city of Victoria on the southern tip of Vancouver Island, British Columbia, Canada to Port Angeles, Washington State, U.S.A., a distance of approximately 21.6 miles.  The United States Power Fund, L.P. (“USPF”) extended a development loan to Sea Breeze to fund late-stage development costs related to the JDF I project.  As a result, EIF secured the opportunity to make a permanent equity investment in the Project’s construction financing.   map

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