GreyStone Power Corporation Enters Into $600 Million + Power Purchase and Scheduling Agent Services Agreement with Morgan Stanley Capital Group

/PRNewswire/ -- On May 12, 2010, the Board of Directors of GreyStone Power Corporation ("GreyStone") approved a five-year Power Purchase and Scheduling Agent Services Agreement with Morgan Stanley Capital Group. The Agreement is valued at more than $600 million.

Background

GreyStone is a member-owned, non-profit rural electric distribution cooperative located on the west side of Atlanta serving portions of eight metropolitan Atlanta counties. Its main office is located at 4040 Bankhead Highway, Douglasville, GA 30134.

GreyStone is one of the largest members of Oglethorpe Power Corporation, the generation supplier from which GreyStone purchases most of its power needs. Under its agreement with Oglethorpe, GreyStone is permitted to procure its remaining power requirements from competitive wholesale power suppliers if it so chooses.

Morgan Stanley Capital Group is a subsidiary of Morgan Stanley and is engaged in wholesale sales and purchases of electricity throughout the United States, including Georgia. Morgan Stanley has been an active participant in the Georgia market for a number of years.

GreyStone conducted a competitive procurement beginning in January by issuing a form of agreement to a selected list of potential power suppliers. GreyStone negotiated an agreement with each potential power supplier and asked each to price their respective agreement. GreyStone selected Morgan Stanley from the competing power suppliers based on the consideration of price and contract terms.

The Power Purchase and Scheduling Agent Services Agreement

The agreement provides that Morgan Stanley will schedule the energy from GreyStone's resources or provide power from the market, whichever is more economical, to serve all of GreyStone's load.

The agreement will allow GreyStone to adapt to changing legal, public policy and regulatory requirements, and to purchase renewable and alternative energy, and implement demand response, net metering and other new technologies.

Gary Miller, the President and Chief Executive officer of GreyStone, stated: "We selected Morgan Stanley after an extensive and competitive procurement process in which we sought the best combination of price and contract terms. We were pleased with Morgan Stanley's willingness to work with us and believe we have obtained a well priced agreement for GreyStone's members that also provides flexibility to adapt to changing circumstances in the future."

Alex Tolstykh, Managing Director and Head of Southeast/Mid-West Power and Gas at Morgan Stanley said: "We are excited to be selected as supplier to GreyStone and look forward to doing a great job serving GreyStone's power needs during the contract and beyond."

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Global Energy Systems Signs Subcontractor Agreement with Georgia Utility

(BUSINESS WIRE)--Global Energy Systems, a subsidiary of the diversified renewable energy company Global Energy Holdings Group, Inc. (NYSE Alternext US: GNH), today announced it has signed a subcontractor agreement with AGL Services Company, a subsidiary of AGL Resources, the parent company of six natural gas utilities including Atlanta Gas Light. Under the terms of the agreement, Global Energy will develop a variety of services involving energy conservation measures at Atlanta Gas Light’s customer owned facilities.

“This agreement with AGL Resources opens up a number of opportunities for Global Energy in the stable gas utility market,” said Mike Ellis, President of Global Energy Systems. “We are committed to developing energy conservation initiatives and providing alternative energy to AGL Resources’ customers.”

Atlanta Gas Light serves more than 1.5 million residential, commercial, industrial and governmental customers in 243 communities throughout Georgia. Global Energy will institute conservation measures to reduce energy consumption and increase energy efficiency at Atlanta Gas Light’s service locations. Global Energy Systems will also identify and market energy management services to U.S. Government facilities affiliated with AGL Resources and Atlanta Gas Light. The subcontractor agreement runs through November 2011.

“AGL Resources is looking forward to working with Global Energy in our efforts to reduce our environmental impact and expand our renewable energy offerings,” said Donna Peeples, Chief Marketing Officer, AGL Resources.

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Siemens and USDA/ARS Partner in Pilot to Convert Second Generation Biofuel Feedstocks to Fuels and Chemicals

PRNewswire-FirstCall/ -- Siemens Energy & Automation, Inc. and the United States Department of Agriculture's (USDA) Agricultural Research Service (ARS) have entered into a Cooperative Research and Development Agreement (CRADA) that will improve the processes used to convert second generation, non-food-based, biofuel feedstocks, including perennial grasses, animal wastes and agricultural residues such as corn stover, into liquid bio-fuel intermediates, such as bio-oil.

As part of the CRADA, Logical Innovations of Richmond, Va., will work with researchers at USDA/ARS's Eastern Regional Research Center (ERRC) in Wyndmoor, Pa., to improve on pyrolysis oil production via innovative control technologies. They will install a distributed control system (DCS) based on Siemens SIMATIC(R) PCS 7 Box technology on ERRC's bench scale, fluidized bed pyrolysis system that heats the biomass in a reactor and converts it to liquid bio-oil, bio-char, and synthetic gas. The project will be commissioned in late 2008.

"We think distributed control will help accelerate second generation biofuels and biochemicals development by improving the repeatability, consistency and efficiency of our research processes," said USDA/ARS Research Leader Dr. Kevin Hicks.

According to Dave Hankins, vice president of Siemens Chemical and Pharmaceutical Center of Competence, the PCS 7 Box technology provides a new level of flexibility to biofuels producers, as well as improves worker safety and equipment protection.

"Siemens is proud to partner with the USDA in this important, environmentally friendly, pilot program," Hankins said. "This investment in the future of second generation feedstocks is another example of Siemens commitment to alternative fuel development and production. New feedstocks that can be quickly and easily processed will benefit the nation and the biochemicals and biofuels industries."

About Siemens:

Siemens Energy & Automation, Inc. is one of Siemens' operating companies in the U.S. Headquartered in the Atlanta suburb of Alpharetta, Ga., Siemens Energy & Automation, Inc. manufactures and markets one of the world's broadest ranges of electrical and electronic products, systems and services to industrial and construction market customers. Its technologies range from circuit protection and energy management systems to process control, industrial software and totally integrated automation solutions. The company also has expertise in systems integration, technical services and turnkey industrial systems. For more information: www.sea.siemens.com.

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