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Headwaters MB Advised Mt Poso Cogeneration L.P. Company on a $40 million Convertible Tax Equity Investment

February 2011

Headwaters MB advised Mt Poso Cogeneration Company L.P. on a $40 million convertible tax equity investment with DTE Energy Services to fund the conversion of a 49.5 MW coal-fired power plant to burn biomass located near Bakersfield, California. 

C.J. Hummel, Director at Headwaters MB added, “Converting the Mt Poso power plant from coal to biomass created substantial long-term value, but monetizing tax benefits in today’s capital environment is challenging.  This transaction yielded an attractive valuation for departing shareholders and put the company on firm financial footing.”