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ENRON ANNOUNCES WIND ENERGY SUBSIDIARY NAME CHANGE
FOR IMMEDIATE RELEASE: Monday, July 7, 1997
HOUSTON - Enron Corp. announced today that Enron Renewable Energy Corp.'s (EREC's) wind energy subsidiary, Zond Corporation, has changed its name to Enron Wind Corp. Zond Corporation of Tehachapi, California, a leading American wind energy power plant developer, operator and manufacturer, was acquired earlier this year by EREC.
"We are pleased and proud to be a part of Enron," said Kenneth C. Karas, vice chairman of EREC and chairman and CEO of Zond. "We believe the name change to Enron Wind Corp. affirms that fact, and more accurately communicates our relationship with Enron."
Zond has more than 15 years experience in the wind power industry. The company was recently chosen to construct the two largest wind generation projects in the world utilizing its Z-750 kW variable speed wind turbines; MidAmerican Energy Company's 112.5 megawatt project in Iowa, and Northern States Power Company's 100 megawatt project in Minnesota. Zond's wind turbine manufacturing entity, Zond Energy Systems, Inc., and the Z-Class wind turbines, the largest wind turbines manufactured in the United States, will retain their Zond identities. Zond Energy Systems, Inc. is a subsidiary of Enron Wind Corp.
Enron Wind Corp. is currently developing projects in the U.S., Europe, Asia and Latin America. The company has constructed and operates over 2,400 wind turbines, comprising 260 megawatts of generating capacity.
Enron Corp., one of the world's largest integrated natural gas and electricity companies with approximately $19 billion in assets, operates one of the largest natural gas transmission systems in the world; is the largest purchaser and marketer of natural gas and the largest non-regulated marketer of electricity in North America; is a leading participant in liberalized energy markets in the United Kingdom and the Nordic Countries; markets natural gas liquids worldwide; manages the largest portfolio of fixed-price natural gas risk management contracts in the world; is among the leading entities arranging new capital to the energy industry; owns a majority interest in Enron Oil & Gas Company, one of the largest independent (non-integrated) exploration and production companies in the United States; owns a majority interest in Enron Global Power & Pipelines L.L.C., which is owner and manager of operating power plants and natural gas pipelines around the world; is one of the largest independent developers and producers of electricity in the world; and is a major supplier of solar and wind renewable energy worldwide. Enron is traded under the ticker symbol, "ENE."
For additional information please contact:
Carol Hensley
(713) 853-6498
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