California State Controller Steve Westly and Theodore Roosevelt IV will headline a cast of over 50 nationally recognized speakers at "Renewable Energy Finance Forum - Wall Street".

May 31, 2005

FOR IMMEDIATE RELEASE

Contact: Tom Weirich, American Council On Renewable Energy (ACORE)
Ph: +1-202-429-2037
E-mail: weirich@acore.org

CA Controller Steve Westly and Theodore Roosevelt IV to be Keynote Speakers at
Renewable Energy Finance Forum in New York City

Washington, DC - California State Controller Steve Westly and Theodore Roosevelt IV will headline a cast of over 50 nationally recognized speakers at "Renewable Energy Finance Forum - Wall Street" where over 600 financiers, developers and corporate executives will gather on June 23-24 in the grand ballroom of the Waldorf-Astoria in New York City. The event is co-sponsored by the American Council On Renewable Energy (ACORE) and Euromoney Energy Events, a subsidiary of Euromoney Institutional Investor Plc.

California and Massachusetts are leading the way in renewable energy implementation in 2005, investing in energy efficiency and conservation programs, and implementation of renewable energy programs across their state.

"California has made serious commitments to increasing our use of renewables," said Steve Westly, California's Controller. "Importantly, we have put new financing in place to back it up, including the Green Wave initiative in the CalPERS and CalSTERS pension funds, allocating several hundred million dollars to clean energy investing. I'll be speaking about what we have done in California, but more importantly about what we all need to do next to make our goals for a better world become a reality. I'll be saying that we can have a better world, and make money doing so. I want 'doing the right thing' to be Wall Street's first choice."

In much the same way as California, Massachusetts has recently been reviewing it commitments to renewable energy and the Cape Wind project. Lehman Brothers Partner Theodore Roosevelt IV stated that, "For too long we have talked about renewable energy with paltry results on the ground. Cape Wind will be the first offshore wind project in the United States. This project will generate 75% of the Cape and Islands' electric demand and produce a healthier environment, increased energy independence, new jobs and lower electric costs. This is an exciting first step in liberating our energy systems from antiquated and unsustainable sources."

The second annual REFF - Wall Street conference is expected to build on the sell-out success of the 2004 inaugural event, bringing together high profile speakers who are actively involved today in the financing of RE projects and companies. Topics to be covered will include innovations in project finance, institutional investment, venture capital and private equity, government sources of funding, international finance, trading Renewable Energy Credits and carbon credits, and case studies on the financing of wind power, solar, hydropower, geothermal, biomass, biofuels, and waste energy projects.

REFF - Wall Street 2005 will be showcasing Stoel Rives as the Platinum Sponsor. "Following on last year's overflow success, the 2005 REFF is yet another sign of the growing maturity of the renewable energy industry and a rare opportunity to bring all the key players in the industry together in the world capital of project finance, New York City," said Ed Einowski, Partner, Stoel Rives.

Other sponsors include Milbank, Orrick, Swiss Re, Baker & McKenzie, Navigant Consulting, Dexia Credit Local, Vestas, US Renewables Group, and Natsource. In addition, REEEP, EcoSecurities, BASE, Chadbourne & Parke LLP, Project Finance, Platts, Renewable Finance, Renewable Power Association, Renewable Energy Access, Environmental Finance Magazine, Renewable Energy World, Clean Edge, Wind Power Monthly, Power Finance & Risk, Institutional Investor, and New Energy Finance are supporting the event.

For additional information about Renewable Energy Finance Forum - Wall Street 2005, visit www.EuromoneyEnergy.com.

About The American Council On Renewable Energy (ACORE) and Euromoney Energy Events

ACORE, a 501(c)(3) membership nonprofit organization headquartered in Washington, DC, is dedicated to bringing renewable energy into the mainstream of the US economy and lifestyle through information and communications programs. ACORE provides a common platform for the wide range of interests in the renewable energy community including renewable energy industries, associations, utilities, end users, professional service firms, financial institutions and government agencies. ACORE serves as a forum through which these parties work together on common interests. Membership information is available at: www.acore.org.

Euromoney Energy Events (EEE) is a London-based wholly owned subsidiary of Euromoney Institutional Investor PLC, the publisher of Institutional Investor, Project Finance & Risk, Renewable Finance and other global publications. EEE's diverse range of conferences address topical issues in the energy sector, with a focus on financial and commercial aspects, in a portfolio that ranges across Renewable Energy, Waste, LNG and Emissions. EEE also is the organizer of the Renewable Energy Finance Forum held every September in London.