Stephen W. Naeve – Principal

Mr. Naeve has enjoyed a diverse and notable career in the electric power industry, having retired from Reliant Resources as Vice Chairman in 2003, after 31 years of employment with Reliant Resources and its predecessor companies.

Mr. Naeve’s experience is unique in encompassing intimate involvement with functions across a broad spectrum of the electric utility business, including power plant planning, construction and operation; natural gas and coal fuel procurement and transport; gas and power trading and marketing; risk management (including monitoring risk exposure from trading activities); corporate strategy; corporate mergers, acquisitions and divestitures; corporate finance (including leadership of road show teams for public debt and equity offerings); corporate treasury functions; investor relations; and regulatory affairs. Mr. Naeve’s senior executive assignments included President and Chief Operating Officer (Reliant Resources), Executive Vice President and Chief Financial Officer (Reliant Resources), and Vice Chairman and Chief Financial Officer (Reliant Energy, Houston Industries).

Mr. Naeve served as a member of the board of directors for KBLCOM, Inc. and Houston Lighting & Power Co., and was Chairman of the Supervisory Board for Reliant Energy B.V., a Netherlands based power generating company. He served as a member of the Time Warner Preferred Shareholders Committee, as a means to facilitate oversight of Houston Industries’ large equity ownership in Time Warner.

He received a Bachelor of Science in Mechanical Engineering with Honors and a Master of Science in Environmental Health Engineering from the University of Texas at Austin.

Jack L. Farley – Principal

Mr. Farley has been active in the US energy market since 1992. Since 2003, Mr. Farley was Senior Vice President with Cinergy Corp., which was acquired by Duke Energy in 2006. He was responsible for Power Trading and Marketing. This group covered all US power markets with a particular focus on the Midwest where Cinergy was a top 3 market participant. On a national basis, the power group was consistently in the top 15 most active market participants with approximately $30 billion of annual physical power sales and $20 billion in fuel purchases. The group pursued and won energy management arrangements with independent power producers and long-term power purchase agreements with generators to provide hedges for debt financing.

The group was moved to Houston, Texas, and integrated with Cinergy’s natural gas trading activities in 2006. Following Cinergy’s merger with Duke Energy, the trading and marketing business was sold to Fortis NV – a Belgium commercial bank and insurance company. Fortis sought to enhance their energy lending in the US and Canada by providing risk management from the trading and marketing group.

Prior to Cinergy/Duke, Mr. Farley was President of the West Region at Reliant Resources, Inc. There he managed a portfolio consisting of +5,000 MW generation portfolio, extensive pipeline and fuel contracts, and a power and natural gas trading group. At that time, he was responsible for the development efforts in the West, which included completion of two combined-cycle gas turbine (CCGT) projects – Desert Basin (577 MW) in Arizona and Big Horn (598 MW) in Nevada. He also sat on the management committee for the El Dorado plant (480 MW CCGT), which was co-owned with Sempra. Prior to managing the West Region, Mr. Farley managed structured power marketing across the US. The group executed many long-term power purchase agreements to support existing generation, new generation acquisitions, and new power generation development.

Early in Mr. Farley’s career he worked for NP Energy, Inc as Vice President of the Midwest power region, McKinsey & Company as an Energy Specialist, and ARCO Oil & Gas Company as a natural gas risk manager. Prior to attending business school, he was a Captain in the US Army serving in a cavalry regiment in West Germany.

He received a Bachelors in Business Administration from the University of Kentucky, and a Masters of Business Administration from The Wharton School at the University of Pennsylvania.

Terrance P. Naulty, P.E. – Principal

Mr. Naulty has 25 years of experience in the US power sector. He brings a broad perspective and diverse experience in all aspects of the development and commercialization of the proposed LGR biomass portfolio. For the past 10 years, he has successfully originated long-term structured transactions for Reliant Resources, Inc., Detroit Edison, Cinergy Corp./Duke Energy, and Fortis NA. In his role as an originator for two utilities, an independent power producer, and a financial institution, Mr. Naulty has negotiated numerous long-term unit-contingent power purchase agreements as well as a significant number of highly structured term commodity transactions and financing arrangements.

As Vice President of Origination for the Eastern US at Reliant Resources, Terry was involved in all commercial aspects of the greenfield development of over 5,000 MWs of electrical generation in PJM, MISO, SERC and FRCC. These projects included gas-fired peaking, gas-fired combined cycle, fluidized bed combustion of waste coal, and oil-fired boiler projects. He also was part of the commercial team that acquired in excess of 20,000 MWs of generation from Sithe Energy and Orion Energy while at Reliant.

Mr. Naulty spent 15 years working for both a Midwest power utility and an environmental consultant. He worked at Louisville Gas and Electric Co. (since acquired by E.ON) and served in several senior management functions including Director of Environmental Affairs where he was responsible for environmental compliance, permitting, environmental regulatory and legislative activities for over 3,000 MWs of coal-fired generation, including the permitting of the Trimble County Generating Station. He spent 8 years in various plant engineering, operations, and management functions while at LG&E and negotiated numerous engineering services and construction contracts.

As an environmental consultant with Radian Corp (URS), he spent 5 years assisting US and International utilities on the design and environmental permitting of over 50,000 MWs of generation.

He received a Bachelors of Science in Environmental Engineering from Purdue University and is a registered Professional Engineer.

Larry W. Ott – Principal

Mr. Ott has 35 years experience as a self-employed entrepreneur. Having spent many years in the contracting industry he brings diverse and varied experience to the development efforts of LGR. Prior to the recent sale of his business, Louisville Sealcoat Company, Inc., Mr. Ott has gained a wealth of knowledge in the areas of contracting, pavement consulting, construction management, site development, trucking and heavy equipment.

Under his leadership Louisville Sealcoat Co. grew from a small start-up operation to the largest asphalt maintenance company in its market. The current owner continues to enjoy the growth and stability of Louisville Sealcoat Co.

Mr. Ott also has knowledge of the working of county governments. He has served as commissioner on Harrison County Indiana Planning and Zoning board for the last seven years and is currently the Chair of the County Board of Zoning Appeals.