United States Power Fund III, L.P. – Investments as of July 2008
USPF III closed on June 25, 2007 at $1.35 billion in investor commitments, exceeding it's target of $1 billion.

Calypso Energy Holdings, LLC
On November 16, 2007, USPF III, along with USPF II, acquired an 80% interest in 14 operating power plants from Cogentrix Energy, Inc.  The Fund’s ownership interest in the projects totals 2,331 net megawatts of generating capacity.  The acquired portfolio consists of power plants located in 12 states that sell substantially all of their generation capacity under mid- to long-term power purchase agreements or tolling arrangements to local counterparties. The plants are a mix of gas, coal, and waste-coal fired facilities that employ state of the art combustion and emissions technologies.  The Calypso transaction’s acquisition financing won the prestigious "2007 North America Portfolio Power Deal of the Year" awarded by Project Finance, a Euromoney publication.     photo 1   photo 2   photo 3

Development Partners Group, LLC
On February 26, 2008, USPF III invested in Development Partners, a New York based firm focused on bringing development experience and capital resources to power and energy infrastructure projects in various stages of the development cycle.  The Development Partners principal team has over thirty years of experience in the power and energy infrastructure area and a successful track record in over $10 billion of development projects.  Targeted investments would include projects in the early, mid or late stages of development across various technologies.  The Principals of Development Partners previously held senior positions with Sithe Energies, Inc. and LS Power Development, LLC.

Greater Detroit Resource Recovery Facility
On February 13, 2008 USPF III acquired a 70% undivided ownership interest and lessor position in the Detroit Resource Recovery Facility. The Facility processes over 800,000 tons of municipal solid waste annually into refuse-derived fuel that is subsequently combusted to generate up to 68 MW of electricity and steam, both of which are sold under long-term agreement. The steam is transported in a 1.8 mile pipeline into the downtown Detroit steam loop. The Facility is operated by the lessee, Covanta, which operates a large portfolio of waste-to-energy plants.     photo

Kansas City Landfill Gas
On April 9, 2008 USPF III, along with Enpower Corp., acquired a 100% interest in the high-BTU landfill gas facility on the Johnson County Landfill in Shawnee, KS (“KCLFG”). The facility processes raw landfill gas into clean, renewable, pipeline-quality natural gas, which is then sold on the open market. The facility is one of the largest of its type in the country, producing over one million mmbtu of natural gas per year, with plans to expand to more than three million mmbtu per year. The acquisition of KCLFG builds on the landfill gas platform USPF III began with its acquisition of Landfill Energy Services.     photo

Kleen Energy Systems, LLC
On June 13, 2008, USPF III, along with affiliated EIF Funds, acquired an 80% interest in a 620 MW natural gas- and oil-fired combined cycle power generation facility under construction in Middletown, CT. Kleen is being built pursuant to a fixed-price, turn-key EPC contract with O&G Industries, and will employ commerically proven, state-of-the-art combustion turbine technology. Once operational, Kleen will sell 100% of its capacity to Connecticut Light & Power for a term of 15-years.     model   photo

Landfill Energy Systems
Landfill Energy Systems (LES) is a privately held company that owns and operates a portfolio of 18 landfill gas-to-energy projects located in nine states. The LES portfolio includes developed projects generating over 96 MW of electricity, with another 9.6 MW under construction and over 29 MW in late-stage development. The company is a leader in the development, construction and operation of renewable energy facilities at landfills. The LES portfolio reduces methane gas emissions by over 4.5 million tons per year.     photo

Solar Power Partners, Inc
On September 24, 2008, USPF III made an investment in Solar Power Partners, Inc (“SPP”), a leading national solar energy services provider. SPP is a developer, owner, and operator of a distributed network of mid-size commercial solar energy facilities. SPP provides turn-key development of projects, financing through long term power purchase agreements, and on-going operations tailored to meet building owners’ specific needs. SPP has projects completed or under construction in California and Hawaii, with plans to expand nationally. SPP’s customers include airports, hospitals, schools, and supermarket chains.     photo

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