Sithe Global Power Enters Partnership with Affiliates of Chubu Electric Power and Toyota Tsusho

Goreway Luxembourg Holdings S.à r.L., a wholly owned affiliate of Sithe Global Power LLC, sold a 25 per cent ownership interest in its Goreway Station, an 875MW combined cycle power generating facility that recently commenced commercial operation in Brampton, Ontario, to each of Chubu Electric Power Goreway B.V., a wholly owned subsidiary of Chubu Electric Power Company Inc., and Toyota Tsusho Goreway Netherlands B.V., a wholly owned subsidiary of Toyota Tsusho Corporation. Goreway Luxembourg Holdings retained a 50 per cent ownership stake in the Goreway Station. The transaction closed on September 8, 2009. Its value is undisclosed.

Stikeman Elliott LLP acted as Canadian counsel to Goreway Luxembourg Holdings, with a team that included James Harbell, Brenda Hebert , Karen Jackson, Rosemarie Lipman and Christopher MacIntyre (corporate/M&A); James Harbell and Brenda Hebert (energy); Brenda Hebert and Ruth Horn (real estate); Peter Hamilton, Lewis Smith and Melissa Schyven (banking); John Lorito, Trevor McGowan and Marc-André Wilson (tax) and Lorna Cuthbert and Lelia Costantini (employment), with assistance from Charles Reagh and Paul Smith of Stewart McKelvey. Goreway Luxembourg Holdings. was represented in the US by Debevoise & Plimpton LLP with a team led by Sarah A.W. Fitts and Robert F. Quaintance and that included Gary M. Friedman, Huey-Fun Lee, Naomi Aoyama, Benjamin P. Lesnak and Brita Siepker.

McCarthy Tétrault LLP acted as Canadian counsel to Chubu Electric Power and Toyota Tsusho Goreway Netherlands with a team that included Harold Huber and Suzanne Murphy (corporate) and Patrick McCay (tax), with assistance from Barry Horne of McInnes Cooper. Chubu Electric Power and Toyota Tsusho Goreway Netherlands were represented in the US by Orrick, Herrington & Sutcliffe LLP.

Torys LLP acted for The Toronto-Dominion Bank as administrative agent for the lenders in connection with the existing debt financing arrangements, with a team that included Jonathan Weisz, Nadine Rockman and Amanda Kieswetter.