Spreadsheet: louise_kitchen__22687__Asset Marketing WIP Report (8-13-01)
Sheet: Americas

Asset Marketing Group
Weekly Update
Americas
Project | Description | Size | Working Group
Project Name: | Overview: | Sale Price ($[NAME]) | [NAME]
Alamac | Sale of 2 coal plants in North Carolina | 22.5 | [NAME]
ENE Banker: | Action Items: |  | [NAME]
None | Closed sale to AIG on July 12, 2001. |  | [NAME]
ENE O/S Legal: |  |  | [NAME]
Bracewell & Patterson |  | Basis ($[NAME])
Counterparty Banker: | Update: | 7.5
N/A | Received 3 bids:  2 at $5-6MM(FPL and [NAME]) and 1 at $19MM (Mirant).  [NAME] has dropped out.  Still in discussion with several other parties on
Counterparty O/S Legal: | [NAME]  NRG and AES are both looking at asset. | Implied Gain ($[NAME])
N/A |  | 15
Project Name: | Overview: | Sale Price ($[NAME]) | [NAME]
Cornhusker | Sale of our 100% interest in Texas QF plant. | 245* | [NAME]
ENE Banker: | Action Items: |  | [NAME]
None | In discussions with El Paso.  Issues on sale include East Coast Power problems with El Paso, and Brazos arbitration. |  | [NAME]
ENE O/S Legal: |  | Basis ($[NAME]) | [NAME]
Le Boeuf | Update: | 239
Counterparty Banker: | Looking at $237.2 million plus September distributions which would put us at approximately $245 million.  Intent is to move El Pase to $240.0 + million.  [NAME] is scheduled with El Paso for August 13, 2001 to discuss PSA.
N/A |  | Implied Gain ($[NAME])
Counterparty O/S Legal: |  | 6
N/A
 | *Includes September distribution of $7.8 million.
Asset Marketing Group
Weekly Update
Americas
Project | Description | Size | Working Group
Project Name: | Overview: | Sale Price ($[NAME]) | [NAME]
Vitro | Sell 50% - 80% of our interest in Mexican project. | $57.66 (80%) | [NAME]
ENE Banker: | Action Items: |  | [NAME]
Soc Gen | Signed Purchase and Sale with Tractebel on Monday, the 11th of June for $15.5MM plus up to an additional $1MM from their cost savings. |  | [NAME][NAME]              Jon Hoff
ENE O/S Legal: |  |  | [NAME]
Bracewell & Patterson |  |  | [NAME]
Counterparty Banker: |  | Basis ($[NAME])
Tractebel-None | Update: | 42.16
Counterparty O/S Legal:
Tractebel ([NAME]) | Working on CPs.  Anticipate late August close. | Implied Gain ($[NAME])
 | Received letter from IDB approving transfer;  working on documents | $14.0*
 | *Net of $1.5MM in fees
Project Name: | Overview: | Sale Price ($[NAME]) | [NAME]
New Albany | Sale of New Albany Peaker | 135 | [NAME]
ENE Banker: | Action Items: | ($365/kw) | [NAME]
None | Signed PSA on June 26, 2001
ENE O/S Legal: |  | Basis ($[NAME])
Andrews & Kurth | Update: | 136
Counterparty Banker: | Working through CPs with an October 1, 2001 closing. | ($376/kw)
N/A | Looking at HR issues.
Counterparty O/S Legal:
N/A |  | Implied Gain ($[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 assets. | $45 and $14.6 | [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 $4 million. |  | [NAME]                 [NAME]
ENE O/S Legal: |  | Basis ($[NAME]) | [NAME]
None |  | 52
Counterparty Banker:
N/A
Counterparty O/S Legal: | Update: | Implied Gain ($[NAME])
N/A | In conversations with Consumers on reverse toll for Michigan Power. | 7.6
 | (on going)  Delta Power is looking at Michigan Power asset and submitted
 | a bid of $41.5MM.
Project Name: | Overview: |  | [NAME]
QF Fund | Evaluating new financing/funding options for existing QF's, and QF's to be purchased. | $400 - $700 | [NAME]
ENE Banker: | Action Items:
N/A | Working with ENA Treasury and LJM to determine market for QF Fund (closest proxy is Turbo Park) to hold QF assets off-balance sheet and off-credit for 3 to 5 years.  Focus is on flexibility, cost of funds, and term.
ENE O/S Legal:
N/A | Update:
Counterparty Banker: | Met again with LJM.  Beginning to scope out potential deal for [NAME].
N/A
Counterparty O/S Legal: | DEAD
N/A
Asset Marketing Group
Weekly Update
Americas
Project | Description | Size | Working Group
Project Name: | Overview: |  | [NAME]
Mission Bid | [NAME] is auctioning 8 Non-California QF assets. | Purchase Price ($[NAME]) | [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][NAME]
ENE O/S Legal:
LeBoeuf, Andrews & Kurth | Update:
Counterparty Banker: | Ended discussions on August 2, 2001.
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 $1.5 MM | Basis ($[NAME])
King & Spalding | 4 Resolve outstanding Unit 1 claim ($2- $6 MM) | N/A
Counterparty Banker: | 4 Selldown of equity ($5 - $6 MM)
N/A
Counterparty O/S Legal: | Update:
N/A | Met with [NAME].  Waiting for reply over next several weeks.  Requested that we delay conversations with OPC. | [NAME] ($[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. | $250 CDN | [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:
Blake, Cassets, Graydon | Update:
Counterparty Banker: | Working on due diligence index and IM to take to market by early September.
None | Need to get letter from government soon to stay on track.
Counterparty O/S Legal:
N/A
Project Name: | Overview: |  | [NAME]
Fort Pierce & Midway | Sale of two sites in Florida |  | [NAME]
ENE Banker: |  |  | [NAME]
None | Action Item: |  | [NAME]
ENE O/S Legal: | Pulling IM together for late August launch.
None
Counterparty Banker: | Update:
None | Team is going to Fort Pierce to resolve open issues.  IM should follow the last week of August.
Counterparty O/S Legal:
N/A
Asset Marketing Group
Weekly Update
Americas
Project | Description | Size | Working Group
Project Name: | Overview: |  | [NAME]
Bridgeline | Sale of 40% in Bridgeline JV. |  | [NAME]
ENE Banker: |  |  | [NAME]
None | Action Item: |  | [NAME]
ENE O/S Legal: | Pulling together comps and valuation methodology.  Anticipate going to
None | TX  with proposal for them to purchase our 40% intrest update.
Counterparty Banker: | Update:
None | EBITDA is way off $56MM budget.  Working through accounting, tax, legal
Counterparty O/S Legal: | issues to be able to make determine on sale/no-sale.
N/A
Project Name: | Overview: |  | [NAME]
Bistineau ([NAME]) | Strategic evaluation of [NAME] storage facility |  | [NAME]
ENE Banker:
None | Action Item:
ENE O/S Legal: | Visit with gas group to  determine how asset would fit into business.
None
Counterparty Banker: | Update:
None
Counterparty O/S Legal:
N/A