AES Wolf Hollow Power Station to Be Completed by February 2003

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Researched by Industrialinfo.com (Industrial Information Resources Incorporated; Houston, Texas). The 25-acre Wolf Hollow Power Station located in Granbury, Texas, 30 miles southwest of Dallas, is 90 percent complete, and is scheduled for operation by February 2003. The site will be owned and operated by AES Wolf Hollow Limited Partnership, a subsidiary of AES Corporation (NYSE: AES) (Arlington, Virginia), one of the world's largest developers, owners, and operators of independent energy cogeneration facilities.

The Wolf Hollow Power Station is a 730 megawatt (MW) gas-fired combined-cycle plant with a total investment value of $300 million. The facility includes two (2) 230 megawatt 501G Mitsubishi Heavy Industries (MHI) (Tokyo, Japan) combustion turbines, two (2) Deltak Heat Recovery Steam Generators (HRSG's), and a 300-megawatt Mitsubishi steam turbine. MHI is a relatively new entrant into the U.S market. Other significant MHI orders include: six (6) turbines for Exelon's Mystic Station (Charleston, Massachusett), and an impressive twenty-one (21) units for PG&E National Energy Group's (Bethesda, Maryland) 1,000 megawatt Covert Project (Covert, Michigan), which is currently under construction.

The plant is being built and designed by Stone & Webster Incorporated, a subsidiary of The Shaw Group (NYSE: SGR) (Baton Rouge, Louisiana), a vertically integrated provider of engineering, procurement, and construction services (EPC) for the power industry. Water for the plant will be supplied under a 32-year water agreement with the Brazos River Authority, and also an electrical interconnection with TXU.

Wolf Hollow will supply 350 megawatts of electricity to Exelon Generation Company LLC, a subsidiary of Exelon Corporation (NYSE: EXC) (Chicago, Illinois), under a 20-year power purchase agreement (PPA). The remainder will be marketed by AES New Energy Incorporated, a wholly owned affiliated company.