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April 26, 2012 Fuji Electric Co., Ltd.

Fuji Electric Co., Ltd. Announces $10 Million Investment in EnergySource's Geothermal Power Plant Hudson Ranch II

TOKYO, Japan -- Fuji Electric Co., Ltd., a leading supplier of turbine generator equipment to the power generation industry, today announced its investment of $10 million in the development of a geothermal plant in Imperial Valley, California, owned and operated by EnergySource LLC, an independent renewable energy generation company that develops utility scale geothermal power plants.

EnergySource plans to commence drilling mid-year for Hudson Ranch II, with plant construction to begin in 2013 and commercial operations in 2015. Like its recently completed Hudson Ranch I project, in which EnergySource first selected Fuji Electric steam turbine generator equipment, the new plant will generate 49 MW from one of the largest and highest temperature geothermal resources in North America, the Salton Sea resource in Imperial County, California. Fuji Electric is a leading supplier of steam turbine generator equipment to the geothermal sector and its investment will support EnergySource’s advancement of the Hudson Ranch II project.

“Fuji Electric supports accelerating renewable energy projects in the area of power generation. The company is committed to expanding and growing its geothermal power plant business as a major emphasis for the company,” said Naoto Yoneyama, Managing Executive Officer & Director of Fuji Electric. “With EnergySource’s successful commercial launch of Hudson Ranch I last month, Fuji Electric saw a great opportunity to invest in development of the second plant.”

Hudson Ranch I and Hudson Ranch II will each generate enough power to serve 50,000 homes in the Southwestern region.

“EnergySource is looking forward to bringing its second geothermal plant on-line and continuing to design and operate power plants in this very robust and dependable resource,” said Dave Watson, president and CEO of EnergySource. “Fuji Electric’s investment in our project will accelerate our timeline and our larger development plans to bring new capacity to California and Southwestern utilities in order to meet their state-mandated renewable energy requirements through the delivery of geothermal power.”

 

About Fuji Electric

Fuji Electric is a global company with businesses focused on electric power, industrial systems solutions and public and industrial infrastructure. The company applies its superior expertise to the manufacture and selection of prime components for these major industrial areas, such as steam turbine generators for power generation plants. In addition, the company provides power semiconductors that are indispensable in the reduction of energy consumption in industrial machines, home appliances, automotive electronics, and magnetic discs used in PC disc devices. Fuji Electric also provides products closely linked to daily lifestyles, such as vending machines. Moving forward, Fuji Electric strives to expand its business in energy and the environmental technologies by fusing and strengthening its core technologies. Please refer to the following Web site for further information regarding Fuji Electric: https://www.fujielectric.com/

About EnergySource

EnergySource is an independent developer, constructor, operator and owner of utility scale geothermal power generation projects in California’s Salton Sea resource, selling wholesale base load renewable power and environmental attributes to western utilities subject to state requirements to purchase energy from renewable resources.
EnergySource employs an experienced team of professionals with long experience in all aspects of energy development and geothermal power. The company has an advanced pipeline of geothermal projects it is currently developing. EnergySource is headquartered in El Centro, California, with an office in San Diego. For more information see www.energysource.us.com

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