MIDLAND, MI – November 29, 2006 /PRNewswire/ — The Management Committee of Midland Cogeneration Venture (“MCV”) announced today that Mr. Joseph L. Roberts, Jr. is leaving as the Partnership’s President and Chief Executive Officer. Mr. Rodney E. Boulanger will join MCV as its new President and Chief Executive Officer effective December 1, 2006. Mr. Roberts will stay with the Partnership through year-end to assist Mr. Boulanger in his transition.
Dwight Scott, Managing Director of GSO Capital (“GSO”), said, “The MCV Management Committee joins me in thanking Joe for his commitment and leadership at MCV. His valuable contributions have helped guide the Partnership through a successful sale process.”
Mr. Scott added further, “The Management Committee of MCV is excited to reunite Mr. Boulanger with the Partnership that he led successfully in its infancy. Mr. Boulanger created the organization that currently operates the MCV and is well-positioned to manage the MCV in the current environment.”
David Yeager, Managing Director of Rockland Capital Energy Investments, stated, “We are confident that his leadership ability and wealth of experience will help maintain the MCV as a competitive and reliable energy supplier to the Michigan marketplace.”
Mr. Boulanger was President and CEO of CMS Energy’s independent power unit, CMS Generation, from 1995, until his retirement in 2002. Before that, he was President and CEO of the MCV Partnership from 1988 through 1994, leading the MCV from construction through the successful start-up of the MCV facility. Prior to joining MCV, he was the President and Chief Executive Officer of ANG Coal Gasification Company. Mr. Boulanger earned a master’s degree in accounting from the University of Detroit and Bachelor of Science degree in accounting from Ferris State University.
MCV leases and operates a gas-fired, combined-cycle cogeneration facility in Midland, Michigan. The plant is capable of producing approximately 1,500 megawatts of electricity and up to 1.35 million pounds per hour of process steam for industrial use. MCV’s partners include MCV Investors, Inc., ultimate parent of the partnership interests held by GSO Capital Partners and Rockland Capital Energy Investments, and The Dow Chemical Company.
SOURCE: Midland Cogeneration Venture