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pbpressreleaseclosinguksale.htm
PB PRESS RELEASE CLOSING OF UK SALE
PB Press Release Closing of UK Sale
Ridgewood
Renewable Power
PRESS
RELEASE
Ridgewood
Renewable Power $230 Million Sale of U.K. Renewable Power Generation
Business
LONDON
-
February 26, 2007 - - Ridgewood Renewable Power, LLC, an affiliate of Ridgewood
Energy Corporation, is pleased to announce that its managed Funds have closed
on
the sale of its United Kingdom landfill methane renewable electric power
business for a total purchase price of $230 million. The purchaser is MEIF
LG
Energy Limited, a European Infrastructure Fund affiliated with the Australian
investment bank Macquarie. The total sale represents 64.5 megawatts (MW) of
renewable power generation at sites in England, Scotland, and Wales, plus
Ridgewood's London based development and operating company, CLP Envirogas.
Ridgewood
Renewable Power Funds have been investing in renewable energy in the U.S. since
1991 where they own and operate 125 MW of U.S. renewable electric power assets.
Ridgewood Funds initially invested $16 million in 1999 with CLP Envirogas which
then owned 14 MW of generating capacity. In 2001, Ridgewood Funds acquired
the
development company, accelerated its development program, and by 2004 Ridgewood
Funds had invested a total of $75 million to ultimately bring total generating
capacity to 64.5 MW. Now fully developed, this 64.5 MW portfolio has been sold
for $230 million. Ridgewood and CLP Envirogas were among the most active
developers of new landfill methane electric power projects in the U.K. from
2002
to 2006.
Ridgewood
Renewable Power's Chairman, Bob Swanson, stated, "Ridgewood Renewable Power is
proud that we have been able to develop, own and operate a substantial portfolio
of renewable power assets in the U.K. We have played a significant role in
increasing the U.K. renewable electric power supply, helping the U.K. meet
renewable power targets set by the European Union".
ABOUT
THE RIDGEWOOD COMPANIES
Ridgewood
Renewable Power Funds are a part of the Ridgewood Companies which also sponsors
Ridgewood Energy Funds and Ridgewood Venture Capital Funds. The Ridgewood
Companies, which are headquartered in Ridgewood, New Jersey, have offices in
Houston, Texas, Palo Alto, California, and Egypt. Ridgewood Energy was founded
in 1982. Ridgewood Renewable Power and Ridgewood Venture Capital were founded
in
1991 and 1998, respectively. Collectively, the Ridgewood Company Funds have
raised $2.1 billion from 11,000 high net worth fund shareholders.
Ridgewood
Renewable Power Funds own 125 MW of U.S. renewable power assets, comprised
of
landfill methane gas, hydroelectric, and biomass generation. Ridgewood Renewable
Power Funds' assets are located throughout the U.S. with a concentration in New
England, where Ridgewood is among the largest renewable power
generators.
Ridgewood
Energy Funds are major producers of clean domestic natural gas from the Gulf
of
Mexico. The Clean Air Act of 1990 resulted in most new electric power generation
in the U.S. running on natural gas, to the point where there now is a long-term
shortage of clean domestic natural gas. The natural gas shortage has resulted
in
sustained higher natural gas prices for the past 4 years, inducing Ridgewood
Energy to dramatically expand exploration and production activities.
"In
our
25 years of investing, Ridgewood Funds have developed a specialty in
environmentally friendly assets", said Bob Swanson. "In our technology Venture
Capital Funds, we are investors in Oryxe Energy International which produces
a
fuel additive which reduces diesel emissions, and we back Comverge which reduces
electric power outages by reducing electric energy demand during peak load
levels. We focus on potentially profitable ways to help the environment".
For
further information, please contact Stephen Galowitz, Vice President of Business
Development, Ridgewood Renewable Power, LLC at (201) 447-9000 or by email at
sgalowitz@ridgewoodrenewablepower.com.

EX - 99 2 pbpressreleaseclosinguksale . htm PB PRESS RELEASE CLOSING OF UK SALE PB Press Release Closing of UK Sale Ridgewood Renewable Power PRESS RELEASE Ridgewood Renewable Power $ 230 Million Sale of U . K . Renewable Power Generation Business LONDON - February 26 , 2007 - - Ridgewood Renewable Power , LLC , an affiliate of Ridgewood Energy Corporation , is pleased to announce that its managed Funds have closed on the sale of its United Kingdom landfill methane renewable electric power business for a total purchase price of $ 230 million . The purchaser is MEIF LG Energy Limited , a European Infrastructure Fund affiliated with the Australian investment bank Macquarie . The total sale represents 64.5 megawatts ( MW ) of renewable power generation at sites in England , Scotland , and Wales , plus Ridgewood 's London based development and operating company , CLP Envirogas . Ridgewood Renewable Power Funds have been investing in renewable energy in the U . S . since 1991 where they own and operate 125 MW of U . S . renewable electric power assets . Ridgewood Funds initially invested $ 16 million in 1999 with CLP Envirogas which then owned 14 MW of generating capacity . In 2001 , Ridgewood Funds acquired the development company , accelerated its development program , and by 2004 Ridgewood Funds had invested a total of $ 75 million to ultimately bring total generating capacity to 64 . 5 MW . Now fully developed , this 64 . 5 MW portfolio has been sold for $ 230 million . Ridgewood and CLP Envirogas were among the most active developers of new landfill methane electric power projects in the U . K . from 2002 to 2006 . Ridgewood Renewable Power 's Chairman , Bob Swanson , stated , " Ridgewood Renewable Power is proud that we have been able to develop , own and operate a substantial portfolio of renewable power assets in the U . K . We have played a significant role in increasing the U . K . renewable electric power supply , helping the U . K . meet renewable power targets set by the European Union " . ABOUT THE RIDGEWOOD COMPANIES Ridgewood Renewable Power Funds are a part of the Ridgewood Companies which also sponsors Ridgewood Energy Funds and Ridgewood Venture Capital Funds . The Ridgewood Companies , which are headquartered in Ridgewood , New Jersey , have offices in Houston , Texas , Palo Alto , California , and Egypt . Ridgewood Energy was founded in 1982 . Ridgewood Renewable Power and Ridgewood Venture Capital were founded in 1991 and 1998 , respectively . Collectively , the Ridgewood Company Funds have raised $ 2.1 billion from 11,000 high net worth fund shareholders . Ridgewood Renewable Power Funds own 125 MW of U . S . renewable power assets , comprised of landfill methane gas , hydroelectric , and biomass generation . Ridgewood Renewable Power Funds ' assets are located throughout the U . S . with a concentration in New England , where Ridgewood is among the largest renewable power generators . Ridgewood Energy Funds are major producers of clean domestic natural gas from the Gulf of Mexico . The Clean Air Act of 1990 resulted in most new electric power generation in the U . S . running on natural gas , to the point where there now is a long - term shortage of clean domestic natural gas . The natural gas shortage has resulted in sustained higher natural gas prices for the past 4 years , inducing Ridgewood Energy to dramatically expand exploration and production activities . " In our 25 years of investing , Ridgewood Funds have developed a specialty in environmentally friendly assets " , said Bob Swanson . " In our technology Venture Capital Funds , we are investors in Oryxe Energy International which produces a fuel additive which reduces diesel emissions , and we back Comverge which reduces electric power outages by reducing electric energy demand during peak load levels . We focus on potentially profitable ways to help the environment " . For further information , please contact Stephen Galowitz , Vice President of Business Development , Ridgewood Renewable Power , LLC at ( 201 ) 447 - 9000 or by email at sgalowitz@ridgewoodrenewablepower.com .