Spreadsheet: louise_kitchen__24294__Asset Marketing WIP Report (6-29-01)
Sheet: Americas

Asset Marketing Group
Weekly Update
Americas
Project | Description | Size | Working Group
Project Name: | Overview: | Sale Price ($[NAME]) | [NAME]
Alamac | Sale of 2 coal plants in North Carolina | $20 - $30 | [NAME]
ENE Banker: | Action Items: |  | [NAME]
None | Sold plants to AIG on May 16, 2001.  [NAME] and [NAME] are looking at the plants.  Will soon be starting formal auction process to capture 90% of upside with sale. |  | [NAME]
ENE O/S Legal: |  |  | [NAME]
Bracewell & Patterson |  | Basis ($[NAME]) | Ozzie Pagan
Counterparty Banker: | Update: | 7.5
N/A | [NAME] and [NAME] have contacted a number of interested parties.  CA's are in process of being signed.  [NAME] will go on  Monday, the 2nd..
Counterparty O/S Legal: |  | Implied Gain ($[NAME])
N/A |  | $12.5 - $22.5
Project Name: | Overview: | Sale Price ($[NAME]) | [NAME]
Cornhusker | Sale of our 100% interest in Texas QF plant. | 250 - 260 | [NAME]
ENE Banker: | Action Items: |  | [NAME]
None | In early discussions with El Paso.  Issues on sale include East Coast Power problems with El Paso, and Brazos arbitration. |  | [NAME]
ENE O/S Legal: |  | Basis ($[NAME]) | [NAME]
Le Boeuf | Update: | 239
Counterparty Banker: | Working towards having PSA ready to give to El Paso by the week of the 9th.
N/A |  | Implied Gain ($[NAME])
Counterparty O/S Legal: |  | $11-21
N/A
Asset Marketing Group
Weekly Update
Americas
Project | Description | Size | Working Group
Project Name: | Overview: | Sale Price ($[NAME]) | [NAME]
Vitro | Sell 50% - 80% of our interest in Mexican project. | $57.66 (80%) | [NAME]
ENE Banker: | Action Items: |  | [NAME]
Soc Gen |  |  | [NAME][NAME]              Jon Hoff
ENE O/S Legal: |  |  | [NAME]
Bracewell & Patterson |  |  | [NAME]
Counterparty Banker: |  | Basis ($[NAME])
Tractebel-None |  | 42.16
Counterparty O/S Legal: | Update:
Tractebel ([NAME]) | Signed Purchase and Sale with Tractebel on Monday, the 11th of June for $15.5MM plus up to an additional $1MM from their cost savings. | Implied Gain ($[NAME])
 | Met with IDB, and CFC last week.  Meetings went very well. | 15.5
 | LTSA was signed last week as well.
Project Name: | Overview: | Sale Price ($[NAME]) | [NAME]
New Albany | Sale of New Albany Peaker | 135 | [NAME]
ENE Banker: | Action Items: | ($365/kw) | [NAME]
None
ENE O/S Legal: |  | Basis ($[NAME])
Andrews & Kurth | Update: | 136
Counterparty Banker: | Duke's BOD approved on Tuesday, the 26th.  Working through CPs with an October 1, 2001 closing. | ($376/kw)
N/A
Counterparty O/S Legal:
N/A |  | Implied Gain ($[NAME])
 |  | -1
Asset Marketing Group
Weekly Update
Americas
Project | Description | Size | Working Group
Project Name: | Overview: | Sale Price ($[NAME]) | [NAME]
Michigan Power-Motown | Reviewing near-term options with Michigan QF asset. | 45 | [NAME]
ENE Banker: | Action Items: |  | [NAME]
None | This QF asset has existing restructuring opportunities. This asset is also a candidate for QF Fund or eventual sale.  In discussions with Consumers Electric for reverse toll (term sheet sent 4/30/01). Issues exist with Consumers over refund of past capacity changes.  Our exposure is approximately $8 million; value is net of $8 million. |  | [NAME]                 [NAME]
ENE O/S Legal: |  | Basis ($[NAME]) | [NAME]
None |  | 52
Counterparty Banker:
N/A
Counterparty O/S Legal: | Update: | Implied Gain ($[NAME])
N/A | Sent updated term sheet to Consumers 5/08/01. | -8
 | In conversations with Consumers on reverse toll.
Project Name: | Overview: |  | [NAME]
QF Fund | Evaluating new financing/funding options for existing QF's, and QF's to be purchased. | $400 - $700 | [NAME]
ENE Banker: | Action Items:
N/A | Working with ENA Treasury and LJM to determine market for QF Fund (closest proxy is Turbo Park) to hold QF assets off-balance sheet and off-credit for 3 to 5 years.  Focus is on flexibility, cost of funds, and term.
ENE O/S Legal:
N/A | Update:
Counterparty Banker: | Met again with LJM.  Beginning to scope out potential deal for [NAME].
N/A
Counterparty O/S Legal:
N/A
Asset Marketing Group
Weekly Update
Americas
Project | Description | Size | Working Group
Project Name: | Overview: |  | [NAME]
Mission Bid | [NAME] is auctioning 8 Non-California QF assets. |  | [NAME]
ENE Banker: | Action Items: |  | [NAME]
None | Included in Mission's assets are Saguaro in which ENA owns a 15% interest, and EcoElectrica, in which EGA and EGM own 50% interest.  We are on the bid and offer on these two assets, and are evaluating the other six assets, including Brooklyn Navy Yard. |  | [NAME]          [NAME]
ENE O/S Legal:
LeBoeuf, Andrews & Kurth | Update:
Counterparty Banker: | BNY is our's to lose. Working through credit issues on Mission related to lawsuit on BNY.   Will be a seller on Saguoro and looking like we may sell 100% of Eco.
CSFB
Counterparty O/S Legal:
N/A
Project Name: | Overview: | Sale Price ($[NAME]) | [NAME]
Doyle | [NAME] to maximize value. | $5 - $6
ENE Banker: | Action Items:
None | The value proposition with [NAME] includes:
ENE O/S Legal: | 4 Effect Payout of Output Bonus ($1.75 MM) - Received a $1.5MM | Basis ($[NAME])
King & Spalding | 4 Resolve outstanding Unit 1 claim ($2- $6 MM) | N/A
Counterparty Banker: | 4 Selldown of equity ($3 - $4 MM)
N/A
Counterparty O/S Legal: | Update:
N/A | [NAME] and OPC are both evaluating a purchase of our 50% interest. | [NAME] ($[NAME])
 |  | N/A
Asset Marketing Group
Weekly Update
Americas
Project | Description | Size | Working Group
Project Name: | Overview: |  | Derek Davies
Calgary PPA ([NAME]) | Analyzing options to monetize 50% of Sundance PPA. |  | [NAME]
ENE Banker: | Action Items: |  | [NAME]
None | Received information and had conference call with Derek Davies regarding PPAs and efforts thus far to sell down our exposure.  [NAME] is approaching government regarding separating PPAs, allowing us to cleanly sell 353 MWs to a third party.
ENE O/S Legal:
None | Update:
Counterparty Banker: | Having conversations with [NAME] regarding best next steps; beginning to box potential issues; [NAME] is reviewing the model.
None
Counterparty O/S Legal:
N/A