Sequoia Energy Secures $16 Million in Financing from Good Energies



    TORONTO and WINNIPEG, Manitoba, Oct. 31 /CNW/ -- Sequoia Energy Inc., a
Canadian renewable energy company focused on utility-grade wind energy
projects and a pioneer in a "community first" approach, announced today it has
closed a $16 million CDN financing investment from Good Energies, a leading
investor in the renewable energy industry.  With this investment, Sequoia will
advance its current projects in Manitoba and Saskatchewan (Canada) and in
North Dakota (USA) and expand to become a leading developer in the region.
    "Just as the wind blows across borders, wind developers have to look
beyond the lines on a map. Today's announcement is a commitment on both our
parts to develop wind energy from Manitoba to Saskatchewan and south to the
Midwest states," said Ron Diduch, CEO of Sequoia Energy.  "We are very pleased
that Good Energies recognizes Sequoia as the best strategic partner to advance
wind energy in this region and that Manitoba is the best home base to advance
that strategy."
    Wind energy has become increasingly recognized in North America as a
complementary enhancement to existing provincial and state energy systems and
a highly valued benefit to sustaining local communities.  Sequoia supports a
community-centered approach and has invested significant resources to ensure
that the company's wind projects preserve the integrity of established
communities and integrates smoothly into existing energy systems.
    "Sequoia is a successful Canadian wind power developer and has been
instrumental in demonstrating the positive economic, environmental and social
benefits of wind energy," said Jean-Louis Brenninkmeyer, a managing director
at Good Energies and a seasoned investor in the wind development industry.
    "The investment by Good Energies in Sequoia will greatly enhance the wind
portfolio of our firm," added David MacMillan, a managing director at Good
Energies in London and part of its global wind investment team.  "Good
Energies will provide Sequoia not only with the capital it needs to succeed,
but we will also partner with management to provide them with our
international utility-grade wind development expertise that we have gained
from successfully bringing projects online in North America and Europe."
    
    About Good Energies:
    
    Good Energies (www.goodenergies.com) is a leading investor in the
renewable energy industry, managing the renewable energies portfolio of the
COFRA Group, a privately owned group of companies.  The current market
capitalization of its portfolio is more than $5 billion.  Good Energies places
its emphasis on the interrelated business areas of solar energy, wind energy,
load management and green buildings. Good Energies operates globally with
offices in London, New York, Toronto, Washington D.C., and Zug.  The company
invests in all life cycles of companies and pursues a long-term investment
approach.  Good Energies is guided by the 3-P-principle (3-Ps): people-planet-
profit; being an investment firm it also aims to accelerate energy transition
and strives to alleviate poverty by improving access to affordable renewable
energy.
    
    About Sequoia Energy:
    
    Sequoia Energy Inc., (www.sequoia-energy.com) headquartered in Winnipeg,
Manitoba is a leading Canadian renewable energy developer.  Sequoia initiated
the first Manitoba wind farm in St. Leon, Manitoba. This successful 99-
megawatt project, demonstrated that wind energy is economically feasible in
the region. The company has since become a leader in the industry with a
number of new projects in development in Manitoba, Saskatchewan and North
Dakota.  Sequoia is focused on large-scale wind energy projects in western
Canada and the U.S. Midwest.  Sequoia's "community first" approach has been
instrumental in demonstrating that wind energy is a safe, reliable,
economically sound, environmentally and socially responsible source of energy
for North America. Sequoia's business model is based on the importance of
partnerships and collaboration. Its corporate goal is to facilitate a smooth
introduction of renewable energy into established energy production and
transmission networks, bringing new income and economic opportunity to rural
areas.




For further information:

For further information: Ron Diduch, Chief Executive Officer of Sequoia 
Energy, +1-204-927-0290, rdiduch@sequoia-energy.com; or Media, Shirley Muir 
of The MediaBank Inc., +1-204-771-7523, themediabank@shaw.ca, for Sequoia 
Energy; or Dr. Alexander Rohde, Corporate Secretary-Spokesperson of Good 
Energies, +41-41-560-66-60, alexander.rohde@goodenergies.com; or North 
American Media, Kenny Juarez, kwj@abmac.com, or Nadine Slater,  ncs@abmac.com,
both of The Abernathy MacGregor Group, +1-212-371-5999, for  Good Energies Web
Site: http://www.goodenergies.com                 
http://www.sequoia-energy.com/

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SEQUOIA ENERGY INC.

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GOOD ENERGIES

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