Invenergy The Power of Innovation Corporate Overview

Invenergy The Power of Innovation

Corporate Overview p Developer owner and operator of power generation projects. p Experienced and proven management team in energy and power generation. p Focused on the development of large-scale wind energy and natural gas projects as well as acquisition opportunities. Other renewable energy projects under evaluation. p More than 12, 000 MW in development, construction and operation including long term power contracts in excess of 2, 000 MW. p Headquartered in Chicago with development offices in Denver, Washington D. C. , Milwaukee, Toronto, San Francisco and Austin, Texas. International offices in London, UK and Warsaw, Poland. p Currently building a portfolio of power facilities in North America and Europe. Invenergy 2

Invenergy Wind LLC (U. S. ) p Three projects (260 MW) of wind projects constructed in the U. S. in 2005 and now in commercial operation: § Judith Gap, Montana – 135 MW (commissioning) § Spring Canyon, Colorado – 60 MW (construction) § Wolverine Creek, Idaho – 65 MW (construction) p Buffalo Mountain, Tennessee project entered commercial operation in October 2004 – one of only a few projects in the US to go into construction in 2004 850 MW of Wind Turbines for projects slated for construction in 2006 and 2007 secured with GE (1. 5 MW SLE units) p 350 MW (three projects) planned for construction in 2006 Invenergy 3

Beech Ridge Wind Farm p Northwestern Greenbrier County p Proposed 186 MW facility p 124 GE 1. 5 turbines (77 meter rotors) p Key landowner: Mead. Westvaco p Target Schedule n n n PSC Siting Certificate: August 2007 Start Construction: April 2007 Start Operations: December 2007 p Expected Output: 570, 000 kwh/yr p Economic Impacts n n n $300, 000 investment 200+ construction jobs 15 -20 permanent jobs $400, 000 /yr property taxes $200, 000 / yr B&O taxes Invenergy 4

Beech Ridge Opposition p Anti-Wind n n p Tourism n n p n n US Rep. Mollohan WV Senator Guills WV Delegate Canterbury WV Delegate Campbell Lewisburg Mayor Manchester Numerous Local Citizen Organizations n n n p The Greenbrier & Sporting Club Greenbrier Co. CVB Elected Officials n p MCRE CRW Greenbrier River Watershed Association Williamsburg VWF Williamsburg Ruritan etc… Grassroots n Invenergy 2, 000+ letters of opposition 5

Complaints p Reduced Property values p Restricted Access p Reduced Tourism p Fire Risk p Viewshed Degradation p Falling Ice p Bat Mortality p Water Pollution p Bird Mortality p Excessive Subsidies p Habitat Loss p Out-of-state Ownership p Light Pollution p Out-of-state Labor p Noise Pollution p Radio Interference p Proximity to cemeteries p Poor mapping p Abandonment Invenergy 6

Beech Ridge Supporters p Labor (ACT) p Industry n n p Environmentalists n n p Sierra Club Coal River Mountain Watch Local Government n n p WV MFA WV Forestry Association Rainelle, Rupert, Quinwood, Richwood Greenbrier Co. Commissioners Grassroots n 700+ letters of support Invenergy 7

WV MFA Opinion Poll Invenergy 8

WV MFA Opinion Poll “Would you favor or oppose the construction of a wind farm or wind powered generator facility in your county? ” County Breakout Greenbrier (n=111) Tucker (n=105) Strongly Favor 32% 57% Somewhat Favor 32% 24% Somewhat Oppose 8% 10% Strongly Oppose 16% 7% Unsure 12% 3% Local support for wind power typically increases after Invenergy construction is completed. 9

Post-Certificate Hurdles p Appeals n n p PSC Reconsideration WV Supreme Court Preconstruction Conditions n n USFWS / WV DNR Compliance (endangered species) WV DEP Compliance p p n WV Culture and History Compliance p p n n Wetlands Stormwater / NPDES Architecture Archaeology Decommissioning Bond Property Tax Agreement Invenergy 10