Roger B. Kelley Named President and CEO of Midland Cogeneration Venture

MIDLAND, Mich., Nov. 15, 2010 /PRNewswire/ -- Midland Cogeneration Venture Limited Partnership (MCV) announced the appointment of Mr. Roger B. Kelley as its new President and CEO, effective immediately. Mr. Kelley is replacing Robert G. Freedline who has served as CEO since the acquisition of MCV by EQT Infrastructure Fund (EQT) and Fortistar LLC (Fortistar) in May 2009.

"We are extremely pleased and gratified that Roger has agreed to assume the CEO position and lead the future development of the company," said Ulf Berg, Chairman of the board of MCV. "Executives like Roger Kelley do not come along every day. He is an expert in the field of electric generation and transmission, and a recognized leader in the power industry," added Mark Comora, President of Fortistar.

Mr. Kelley was a member of the original EQT and Fortistar acquisition team and continued on at MCV in an advisory capacity since the acquisition. He is now taking the lead responsibility at MCV and will be relocating to Midland, Michigan with his wife of 30 years, Kathi. Mr. Kelley previously served as President and CEO of the New York Power Authority, the nation's largest state-owned public electric utility, from 2007 through 2008. He also currently holds a seat as the chief technical member on the board of the New York State Energy Research and Development Authority. Mr. Kelley has over 35 years of experience in the electric generation and transmission business.

Mr. Kelley, who graduated with honors and holds a Bachelor of Science degree in Electrical Engineering from Northeastern University, has significant experience in all areas of power generation, including nuclear, natural gas, coal, hydro, solar and landfill, as well as experience with transmission issues. He has served as a chief advisor on power issues to two of New York's governors, and has served as Chairman of the Independent Power Producers of New York State, Inc. In addition to his service at the New York Power Authority, Mr. Kelley has been employed by New York State Electric and Gas Corporation, Maine Public Service Company, Empire Energy Corporation, LS Power Corporation and Fortistar. Mr. Kelley also served as a member of the Lt. Governor's Renewable Energy Task Force, which was responsible for the development and implementation of New York State's renewable energy portfolio. Mr. Kelley is a licensed professional engineer in New York State.

About MCV

MCV is one of the largest gas-fired cogeneration projects in the United States. The facility is capable of producing up to 1,560 megawatts of electricity and up to 1.35 million pounds per hour of process steam for industrial use. MCV's electrical capacity represents approximately 10% of the power consumption for Michigan's Lower Peninsula and is a critical energy resource that enhances system reliability within Michigan. The core power generation equipment, which is among the most reliable technology in the industry, was manufactured by ABB (now Alstom) and General Electric. With significant existing infrastructure and a strong operational track record, MCV is well positioned for adding efficient generation capacity to meet future needs of Michigan, including the replacement of aging coal-fired generation facilities. EQT and Fortistar hold 70% and 30% of the equity interests, respectively, in MCV.

About EQT

EQT is a EUR 1.2 billion-infrastructure fund advised by EQT Partners, a leading global private equity advisory firm founded in 1994 with headquarters in Stockholm, Sweden. EQT Infrastructure is one of a group of private equity funds with the business concept of acquiring, financing and developing high-quality medium-sized companies in Northern and Eastern Europe, North America and Asia. EQT serves as an active owner and works in close cooperation with the management of the companies it acquires, to develop and implement value-enhancing strategies. In total, EQT funds have invested in more than 70 companies.

More information about EQT can be found on www.eqt.se.

About Fortistar

Fortistar, headquartered in White Plains, New York has a 25-year history of owning and managing power assets and currently has ownership stakes in over 60 projects in North America, with total generation capacity of 3,000 megawatts. Fortistar has focused on cogeneration since its inception and has ownership stakes in four such assets with total capacity of over 2,600 megawatts. Fortistar also has a growing renewable business, which currently focuses on the landfill gas and biomass sectors. Fortistar owns and manages one of the largest landfill gas power project portfolios in the United States with approximately 235 megawatts, 12% market share of all installed projects in the United States. Fortistar also owns and manages a portfolio of biomass power projects with a total capacity of over 165 megawatts. Collectively, the destruction of methane gas from Fortistar's renewable portfolio is now equivalent to eliminating 9.3 million tons of carbon dioxide per year, which, in turn, is equivalent to carbon dioxide emitted from 1.6 million cars, the production of 990 megawatts of electricity from coal or the planting of 2.3 million acres of trees (the equivalent to an area equal to two-thirds the size of Connecticut).

More information about Fortistar can be found on www.fortistar.com.

SOURCE Midland Cogeneration Venture Limited Partnership