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First WindSteve VavrikVice President, OriginationMay 9, 2008
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Table of Contents
• First Wind Overview(formerly UPC Wind)
• Projects
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FIRST WIND OVERVIEW
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We are an Independent North American Wind Energy Company
Exceptional Manageme
nt
Proven Results
Unique Strategy
• Ability to act quickly and more decisively than our competition• Significant industry experience (17 years on average among the senior team)• Expertise to execute all aspects of business
• Develop to own model that includes: - Disciplined, regional focus - Focus on the most profitable projects
- Significant head start in terms of site acquisition in our key markets
• 274 MW operating and under construction• 637 MW advanced development• Consistent and reliable access to capital: $1.8 billion raised to date
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We Manage The Full Life Cycle Of A Wind Project
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Our Key Development Areas Share High Energy Prices, Robust RPS, Tight Supply, Carbon Upside
• High energy prices
• Shrinking reserve margins
• Highest REC prices in U.S.
Northeast
• Highest energy prices in U.S.
• Oil dominated electricity and transport sectors
• Aggressive transformation of current paradigm
Hawaii
• CA demand for green energy is the highest in the U.S.
• Shrinking reserve margins
West
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Breadth of Expertise with a Deep and Committed Management Team
• 17 years of relevant management experience on average
• 119 total employees
Development (36)
• Developers (14)• Land (3)• Communications (1)• Strategy & Planning
(1)• Transmission (1)• Meteorology (4)• Community (4)• Permitting (6)• Admin (2)
Engineering & Construction
(14)• SVP (1)• Project Manager (7)• Contracts (1)• O&M Liaison (1)• Field Managers (3)• Construction
Accountant (1)
Legal (5)
• General Counsel (1)• Associate General
Counsel (2)• Paralegal (2)
Operations (42)
• COO (1)• Commodity / RM (2)• Plant / Site Managers
(9)• SCADA (2)• Met Field (8)• Biologists (4)• Reporting (1)• Admin (10)• IT (4)• Interns (1)
Finance (18)
• CFO (1)• Accounting (14)• Finance (3)
HR (3)
• Director (1)• HR (2)
CEO(1)
Executive Key Role Years in Relevant Fields Management Responsibilities
Paul Gaynor President & CEO 21 Strategic direction, overall management and primary development responsibilities
Michael Alvarez EVP & COO 22 Operations, asset, commercial and risk management and strategic development
Tim Rosenzweig SVP Finance & CFO 16 All financial activities with a primary focus on raising capital
Evelyn Lim SVP Legal, General Counsel 11Legal / regulatory matters relating to project development, financing, construction and operation
Evelyn Carpenter SVP Engineering & Construction 17 Engineering and construction of projects
Scott Rowland VP Engineering & Construction 10 Project Engineering
Steve Vavrik VP Origination 11 Risk management, commodity hedges, transmission scheduling, and REC trading
Pat Caramante VP Strategy & Planning 28 Technical matters associated with financing activities
Dave Cowan VP Environmental Affairs 21 Environmental permitting, both development and compliance
Bernie Lacoste VP Operations 34 Day-to-day operations and met field team management
Mike Jacobs VP Transmission 21 Transmission strategy, interconnection, and utility integration strategies
Matt Kearns VP Development, New England 16 Lead development responsibility for New England
Chris Swartley VP Development, Northeast 11 Lead development responsibility for Northeast
Krista Kisch VP Development, West 7 Lead development responsibility for West
Mike Gresham VP Development, Hawaii 5 Lead development responsibility for HI
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PROJECTS
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• 30 MW
• Maui, HI
• COD June 2006
• First Habitat Conservation Plan for a wind farm
Kaheawa
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Mars Hill
• 42 MW• Mars Hill, Maine (Aroostook
County)• 28 GE turbines• COD March 2007• Largest in New England• RECs to New England RPS
markets
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Steel Winds
• 20 MW• Lackawanna, NY• Superfund site• COD June 2007• Eight Clipper
turbines
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Cohocton
• 125 MW• Cohocton, NY
80 miles south of Rochester
• 50 Clipper turbines• Under construction
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Stetson
• 57 MW• Washington
County, Maine, 70 miles north of Bangor
• 38 GE turbines• 35-mile 115 kV transmission line
