New York, NY, July 11, 2007 — Bicent Power LLC, a new company formed by energy industry executive Paul Prager and Natural Gas Partners VIII LP., announced that it has completed its previously announced acquisition of the domestic independent power production business unit of MDU Resources Group Inc. The transaction is valued at $636 million.
The acquired business consists of Centennial Power Inc. and Colorado Energy Management LLC. Centennial Power’s generating assets include 603 MW of electric generating capacity located in Montana, Colorado, California and Georgia. The assets are fully contracted under mid- to long-term power purchase and sale agreements, and include coal-fired, natural gas-fired and wind-powered generation. Colorado Energy Management provides design, construction, operation and maintenance services to energy providers.
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