SIGMA CAPITAL GROUP EXPANDS RENEWABLE ENERGY PROJECT FINANCE CAPABILITY 

Harbor Springs, MI: Sigma Capital Group’s Chairman and CEO, Mr. Bruce Woodry, announced today that the company has expanded its energy investment banking practice by the addition of Power Project Finance, Inc. and added Mr. Daniel Potash, as Managing Director, Energy. 

Mr. Potash bring to Sigma Capital more than 20 years of experience, and collective transactional involvement in excess of $5.5 billion, of which almost $1 billion has been in alternate energy/renewable energy.  Sigma Capital is targeting project finance of both traditional & alternate energy projects, ranging from $5-250 million in project size.

“The need to develop a long-range energy policy for the United States, which includes renewable resources, conservation and demand side management, is more important today then ever before in this nation’s history”, said Mr. Potash. “The majority of recent electric generation capacity additions have relied upon a single fuel, natural gas.  Once considered an abundant fuel source for clean, inexpensive, and low cost generating electricity, it is quickly becoming none of these.  We are running out of options and unless a long-range strategy is developed which uses a proper mix of currently available and developmental options for production of electricity, such as renewable energy, the country will face significant economic impacts in the future,” says Mr. Potash.

"Understanding of the complex variables relating to project finance is critical to assuring a project will be successfully funded”, said Mr. Woodry. “Financial modeling of operations, cash flows and transaction costs will quickly determine whether the transaction is viable, can provide investor grade returns and support lending requirements. "The Sigma Capital team has impressed me as experienced and credible, said Mr. Potash, an expert in creative funding solutions for complex power projects. “However, it’s imperative to plan in sufficiently in advance, and a well presented package to a lender or investor is required to assure a advantage in the very competitive fund-raising process,” he added.

"With oil in excess of $40/barrell, and upward pressure continuing, we believe that that more of the alternate energy/renewable energy will become economically viable", said Mr. Woodry, Chairman of the Michigan Public Service Commission Renewable Energy Finance Committee.  "In view of this, we have assembled and industry-leading team that can move aggressively to secure project financing for both traditional, but more importantly, alternate energy projects.  There will be no single solution in the energy market. All options need to be considered and used. In any case, Sigma Capital Group would be pleased to assist your needs,” says Mr. Woodry.

About: Power Project Financing, Inc.

Power Project Financing is a boutique investment bank, specializing in renewable energy, independent power, project financing, and power sector privatization.  The Company has completed more than $1 billion of power project financing in six countries, much of that in renewable energy such as solar, wind, and small hydroelectric projects. 

Power Project Financing provides financial advice, financial structuring, and equity and debt capital for governments and developers of leading edge power projects, from conventional power projects using gas and coal which incorporated new, state-of-the-art environmental methods such as fluidized bed combustion and advising on a project using selective catalytic converters in gas-turbines for the first time. 

Power Project Financing’s international financing capabilities included using multi-lateral institutions including the World Bank, the International Finance Corporation, and the European Bank for Reconstruction and Development. 

About: Mr. Daniel Potash, Managing Director, Energy

Mr. Daniel Potash has over 20 years of experience in power project financing, power sector reform, power project development, renewable energy, financial structuring, business and risk analysis, computer financial modeling, and equity placement, implementing joint ventures.  He founded Power Project Financing, and has experience financing independent power projects all around the world.

Mr. Potash has consulted and taught classes regarding power project financing at the US Agency for International Development, the US Trade Development Agency, the US Export Import Bank, the California Energy Commission, and the California Public Service Commission. He was Financial Advisor to Government of Armenia, and short projects in Nigeria, Turkey, Georgia, Philippines, and Mexico.

Prior forming the Power Project Financing consultancy, Mr. Potash was Vice President at Cogeneration Capital Associates.  He provided financial placement, advisory, and analytical services on $850 million of successfully-completed power projects.  These mostly involved renewable energy: wind, solar, biomass, small hydro, and cogeneration. 

Mr. Potash was also employed by Deloitte Touche Tohamatsu, Emerging Markets Group, Washington, DC.   In that capacity, he was Project Director of World Bank-funded advisory project for Government of Karnataka, India on privatization of 4,000 MW, 10 million-customer power distribution system.  Also Mr. Potash was Chief of Party for USAID-funded program to advise Government of Moldova on privatizing power companies and also provided similar advisory services for the Government of Ukraine.    Mr. Daniel Potash prepared and closed five financing transactions in the former Soviet Union (Armenia, Georgia, Moldova, and Ukraine).  He worked closely with the EBRD and World Bank, and has worked on energy technical assistance in South Asia and Eastern Europe with USAID, TACIS, and PHARE, DFID, SIDA (Sweden), and CIDA (Canada).  

At Credit Suisse First Boston Corporation, Mr. Potash was a Member, Corporate Finance Department where he as responsible for financial analysis and computer modeling to support corporate finance, mergers and acquisitions, and project finance.  

Mr. Potash has published 30 professional articles in Infrastructure Finance, Privatization Yearbook, World Cogeneration, Private Power Executive, Independent Energy Magazine, and European Power News.  Data and comments on securities offering statistics were quoted in Corporate Financing Week, Wall Street Journal, New York Times, Forbes, Fortune, Business Week, and Institutional Investor.

Mr. Potash holds a B.S. in Industrial Engineering and an MBA in Finance and Marketing, both from Columbia University.   He was a Director of the Northern California Cogeneration Association, the Power Association of Northern California, and Board Member (charity).   He belongs to the San Anselmo Chamber of Commerce.

About Sigma Capital:

Sigma Capital Group is a ten-year-old boutique investment bank located in Raleigh, North Carolina, adjacent to Research Triangle Park that has built a strong reputation for improving shareholder value through corporate development activities.  Sigma Capital Group provides advisory and representational services to clients in the Energy, Real Estate/Destination Resorts, Telecommunications, Information Technology & Aerospace industry sectors with transaction values in the $5M to $200M range. For additional information, contact:

Mr. Bruce Woodry, Chairman and CEO

Sigma Capital Group, Inc.

Post Office Box 1002 Harbor Springs, Michigan

Telephone; (231) 881-4540

Email: woodry@sigmacapital.net

Web: www.sigmacapital.net