Plutonic, GE Unit Move Ahead With Wind Farm Deal

Law360, New York (September 23, 2009, 12:57 PM EDT) -- Following the completion of an extensive due diligence process, Plutonic Power Corp. and a unit of General Electric Co. are pushing forward with their effort to purchase the largest wind farm under construction in British Columbia from bankrupt EarthFirst Canada Inc., the firms said Wednesday.

Plutonic Power and GE Energy Financial Services have made a preliminary commitment to buy the 144-megawatt Dokie Ridge Wind Project from EarthFirst, which filed for credit protection in 2008.

EarthFirst is currently operating under court-ordered protection from its creditors under Canada’s...
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