CARI Tr a ns

1. Clean, Reliable, and Low Cost Energy for the Caribbean November, 2006 CARITrans Confidential

2. Introduction • CARITrans… • Joint Development Company Comprised of: • Boundless Energy, LLC • AvantBridge, Inc. • The ENMAN Group • Venable, LLP • Legal Advisor (450 Member Law Firm based in Washington DC; Chaired by Benjamin Civiletti – former Attorney General of United States)

3. Overview of CARITrans Partnership • Boundless Energy (US) • Energy project developer and engineers • Specializing in HVDC technology • Project Neptune Developer • Project financed & under construction

4. Kitimat Canada USA Pacific Ocean San Fransisco Additional developments include: SBP-WCC Project with PG&E Press Release: 1 November, 2005: Pacific Gas and Electric Company and Sea Breeze Pacific to Explore Major New Electric Transmission Project SAN FRANCISCO – Pacific Gas and Electric Company and Sea Breeze Pacific West Coast Cable, LP, have agreed to study the possible development of an undersea electric transmission line that would enhance power supplies in northern California by connecting the region with sources of low-cost and renewable electricity in the Pacific Northwest. 1020km Cable Route

5. Additional developments continued… • Juan de Fuca Cable • Currently in open season • Under permitting • Financing secured • Vancouver Island Cable • Full NEB Approval • Full Environmental Canada Approval • Financing secured as regulated project “Seabreeze RTS will set a new standard for transmission project in Canada.” National Energy Board of Canada – October 2006

6. Overview of CARITrans Partnership • AvantBridge (US) • International project development and financing • Raised over $1.3B US in international funding • ENAMAN Group (Trinidad) • Owner – Former Chairman of PetroTrin • Energy project developer and engineers • Exclusive developer of Guyana’s $1B hydro-electric station in Turtruba, Guyana • Developer of power source for CARITrans

7. Project and Technology Overview • CARITrans desires to develop a submarine High Voltage Direct Current (HVDC) cable that will import clean, reliable, and low cost electricity to Puerto Rico • Project has been under financial and feasibility development for the past three years • Energy will be sourced from natural gas and renewable energy from the Trinidad-Guyana region • Potential for region to import/export between 600-1200MW of electricity

8. Project and Technology Overview

9. Project and Technology Overview • Project to be built in two phases: • Phase I: Connect and deliver electricity to Trinidad and throughout Caribbean • Phase II: Additional low cost renewable generation assets added • Project benefits to Caribbean include: • Clean Energy – No pollution • Reliable Energy – 99% availability • Generation not affected by local hurricane events • Economic benefits • Lower Cost of Electricity • Stable & predictable fuel source independent of global price fluctuations • Strengthen existing Grid • 50 Year Usable Life

10. Project and Technology Overview • Detailed Bathymetric Analysis have been conducted

11. Project and Technology Overview • Very reliable technology – • In total about 75,000 MW HVDC transmission capacity is installed in 92 projects around the world • HVDC ideally suited for long-haul high voltage requirements • Lower Line Loss than AC • No discharge of air or water emissions • Monopolar transmission using ground as return path

12. Project and Technology Overview A sample of several existing HVDC Projects…

13. Project Development Highlights • Project feasibility and assessment completed • Power sources identified • Project finance sources identified

14. Next Steps • Transmission - Get a clear understanding of VIWAPA objectives with this effort • Purchase or partner? • Would like to establish a Letter of Intent (LOI) with VIWAPA to purchase electricity • Build Project