On August 9, 2007, Marubeni Caribbean Power Holdings, Inc., a wholly-owned subsidiary of Marubeni Corporation of Japan, completed the purchase of equity shares of Mirant Caribbean Holdings, including 55% equity interest in Grand Bahama Power Company.

The company also owns an 80% equity interest in Jamaica Public Service Company in Jamaica; a 39% equity interest in the Power Generation Company of Trinidad and Tobago (PowerGen), an IPP that supplies approximately 80% of Trinidad and Tobago's total electricity demand; and a 25.5% equity interest in Curacao Utilities Company, which supplies electric, steam and water to PdVSA's refinery plant on the island of Curacao an a preferred share ownership interest in Aqualectra, and integrated water and electric company in Curacao.

Since Marubeni was founded in 1858, the company has become one of Japan's leading enterprises. Marubeni operates in 74 countries providing Services in energy power, chemicals, metals and eight other industrial sectors. Marubeni Corporation has built, owns and operates 72,000 megawatts of power around the world. Its size and experience provides the customer focus, operational expertise and financial capability to position Grand Bahama Power Company to meet the country's future electricity demand.

The Marubeni team is honored to have the opportunity to serve the people of Grand Bahama Island with reliable electricity and superior customer service to help power a thriving economy.

Abu Dhabi National Energy Company (“TAQA”) and Marubeni are now partners in its power sector investment in the Caribbean region.

This joint partnership provides additional depth, experience and resources to Marubeni Caribbean Power Holdings as they continue to look for additional opportunities in the Caribbean.

TAQA is a global energy holding company that has interests in power generation, combined heat and water, desalination, upstream oil & gas and pipelines, geographically spread over UK, Netherland, North America, Middle East, Morocco, Ghana and India. Their participation in Caribbean business is highly strategic to them, and will further diversify their portfolio. It is also worth mentioning that TAQA maintains very strong credit ratings: AA- by Standard & Poor's and Aa2 by Moody's. For more detail, you can visit their website (http://www.taqa.ae).

Marubeni and TAQA have multiple joint investments in the Middle East region, which sums up to 4,720MW of power generation and 340MIGD of water production projects in operation. This will be the first expansion of this relationship to another part of the globe. Regarding the Caribbean investment, both Marubeni and TAQA share a common view in the long-term investment strategy and share the commitment to grow the business in a prudent manner.

Link: http://www.marubeni.com/