1. Invenergy The Power of Innovation

2. Invenergy 2 Corporate Overview  Developer owner and operator of power generation projects.  Experienced and proven management team in energy and power generation.  Focused on the development of large-scale wind energy and natural gas projects as well as acquisition opportunities. Other renewable energy projects under evaluation.  More than 12,000 MW in development, construction and operation including long term power contracts in excess of 2,000 MW.  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.  Currently building a portfolio of power facilities in North America and Europe.

3. Invenergy 3 Invenergy Wind LLC (U.S.)  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)  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)  350 MW (three projects) planned for construction in 2006

4. Invenergy 4 Beech Ridge Wind Farm  Northwestern Greenbrier County  Proposed 186 MW facility  124 GE 1.5 turbines (77 meter rotors)  Key landowner: MeadWestvaco  Target Schedule PSC Siting Certificate: August 2007 Start Construction: April 2007 Start Operations: December 2007  Expected Output: 570,000,000 kwh/yr  Economic Impacts $300,000,000 investment 200+ construction jobs 15-20 permanent jobs $400,000 /yr property taxes $200,000 / yr B&O taxes

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

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

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

8. Invenergy 8 WV MFA Opinion Poll

9. Invenergy 9 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 Favor32%57% Somewhat Favor32%24% Somewhat Oppose8%10% Strongly Oppose16%7% Unsure12%3% Local support for wind power typically increases after construction is completed.

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