Obviously this is going complicate (and increase the cost) of the 
transaction.  Is there any way to push back on this?  We will now need four 
break out contracts, four sets of every other document, 4 sets of assigning 
docs out of TurboPark, etc....  Not hard to do, but a challenge to do on your 
time frame.

Kay




Stephen Thome@ECT
03/06/2001 11:39 AM
To: ccampbell@kslaw.com, jkeffer@kslaw.com, Carlos Sole/NA/Enron@Enron, Kay 
Mann/Corp/Enron@Enron
cc:  

Subject: Turbines

Catherine, John,

I just received this from Panda regarding their project company structure.  
---------------------- Forwarded by Stephen Thome/HOU/ECT on 03/06/2001 11:31 
AM ---------------------------


"Lori Holt" <LoriH@pandaenergy.com> on 03/06/2001 11:04:12 AM
To: <Stephen.thome@enron.com>
cc: "Jimmy Teringo" <JimmyT.Dallas.Panda@pandaenergy.com> 
Subject: Turbines


Steve,
I was correct in my assumptions.  Each turbine should go into four different 
LP's.  Panda West Power I, L.P., Panda West Power II, L.P., Panda West 
PowerIII, L.P. and Panda West Power IV, L.P.  Please advise if you have any 
additional questions.
Regards,
Lori