Mirant Completes Sale of Wichita Falls Power Plant
May 04 2006 - 6:00PM
PR Newswire (US)
ATLANTA and HOUSTON, May 4 /PRNewswire-FirstCall/ -- Mirant
(NYSE:MIR) announced today that it has completed the sale of its
Wichita Falls facility to Signal Hill Power LLC. Wichita Falls is a
combined cycle facility consisting of three gas turbines and a
steam turbine. The facility, which is located near Wichita Falls,
Texas, has a total capacity of 77-megawatts. Financial terms of the
transaction were not disclosed. The sale of Wichita Falls is
consistent with Mirant's U.S. strategy to focus on core asset
operations. The purchase of Wichita Falls furthers Signal Hill's
goal of owning, operating, managing and developing power generation
assets in North America. Mirant is a competitive energy company
that produces and sells electricity in the United States, the
Caribbean, and the Philippines. Mirant owns or leases approximately
17,500 megawatts of electric generating capacity globally. The
company operates an asset management and energy marketing
organization from its headquarters in Atlanta. For more
information, please visit http://www.mirant.com/. Signal Hill Power
LLC is a Houston, TX, company with more than 30 years of combined
experience in the development, ownership, operations and management
of energy infrastructure projects around the world. R. Clay Spears
and Frost W. Cochran founded Signal Hill Power LLC with the intent
of building a portfolio of North American power generation assets.
Signal Hill will use the Wichita Falls plant to competitively
produce and sell electricity in the ERCOT market. Mirant
Stockholder inquiries: 678 579 7777 DATASOURCE: Mirant CONTACT:
Media, Corry Leigh of Mirant, +1-678-579-3111, or ; or R. Clay
Spears of Signal Hill Power LLC, +1-713-571-9393, or ; or
Investors, Mary Ann Arico, +1-678-579-7553, or , or Sarah Stashak,
+1-678-579-6940, or , both of Mirant, or Stockholder inquiries,
+1-678 579 7777 Web site: http://www.mirant.com/
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