SAN FRANCISCO, May 1 /PRNewswire/ -- International investment and specialized fund and asset management group Babcock & Brown, a leading wind
energy developer and operator, today announced it has a completed the financing of its Wessington Springs Wind Project, located near the town of
Wessington Springs, South Dakota. Construction has begun on the wind farm, which is expected to begin commercial operations by the end of the year.

The Wessington Springs Wind Project, with 34 new GE 1.5 megawatt (MW) wind turbines, will have a total production capacity of 51 MW, enough to
power approximately 15,000 homes per year. The power produced at the wind farm, which will connect to the Western Area Power Administration (WAPA)
transmission system, will be purchased by Heartland Consumers Power District through a long-term power purchase agreement. Construction work on
the project is being done by Wanzek Construction, based in Fargo, North Dakota.

    "The start of construction at Wessington Springs Wind Project marks a major milestone in a development process that started from scratch three
years ago," said John Calaway, chief development officer for Babcock & Brown's North American wind energy group. "We look forward to harnessing
the wind of South Dakota to produce clean and renewable energy when Wessington Springs Wind Farm begins operating later this year."

    "We were looking for a premiere wind developer, and we found that in Babcock & Brown," said Heartland's General Manager, Mike McDowell. "We
expect the Wessington Springs Wind Project to come on line in late 2008, and when it does, it will be a tremendous energy producer for Heartland.
With its generation, renewable resources will account for 20% of our power supply."

    Babcock & Brown currently operates 20 wind farms across nine states throughout the US, totaling more than 1500 MW of installed capacity. The
Company also has more than 25 wind farms in various stages of development around the country.

    Heartland Consumers Power District, a non-profit public corporation headquartered in Madison, South Dakota, provides supplemental power to
municipalities and state institutions in South Dakota, Minnesota, and Iowa from a diversified mix of resources.