Contact Information: Investor Contacts: Cleco Corporation: Keith Crump (318) 484-7719 Ryan Gunter (318) 484-7724 Shareholder Services: Rodney Hamilton (318) 484-7593 Analyst Inquiries: Dresner Companies Phillip Kranz (312) 780-7240 Media Contact: Cleco Corporation Michael Burns (318) 484-7663
Acadia Plant's Bid Not Selected by Entergy in Long-Term RFP
| Source: Cleco Corp.
PINEVILLE, LA -- (MARKET WIRE) -- February 5, 2007 -- Cleco Corp. (NYSE : CNL ) announced today an
offer submitted by the Acadia power project was not selected by Entergy
Services, Inc. as part of its long-term request for power proposals.
Acadia Power Partners LLC, a joint venture between subsidiaries of Cleco
and Calpine Corp., owns the 1,160-megawatt combined cycle natural gas-fired
unit near Eunice, La. Entergy Services had notified plant owners last fall
that Acadia's bid had made the short list of bidders.
"We're obviously disappointed Acadia's offer was not selected. We thought
we had made a very competitive bid," said Cleco President and CEO Michael
Madison.
"However, we continue to believe the asset has great value and is in a good
location," Madison said. "We will continue to pursue opportunities in both
the short- and long-term markets."
Cleco Corp. is a regional energy services company headquartered in
Pineville, La. It operates a regulated electric utility company that
serves 268,000 customers across Louisiana. Cleco also operates a wholesale
energy business that has approximately 1,350 megawatts of generating
capacity. For more information about Cleco, visit www.cleco.com.