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First Wind: Pioneering North American Wind Energy Solutions

First Wind, formerly UPC Wind, is an independent wind energy company with proven results and exceptional management. With a focus on profitable projects and a unique development-to-own model, we manage the full life cycle of wind projects for sustained success.

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First Wind: Pioneering North American Wind Energy Solutions

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  1. First Wind Steve Vavrik Vice President, Origination May 9, 2008

  2. Table of Contents • First Wind Overview (formerly UPC Wind) • Projects

  3. First wind overview

  4. We are an Independent North American Wind Energy Company Unique Strategy • 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 Exceptional Management • 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 Proven Results • 274 MW operating and under construction • 637 MW advanced development • Consistent and reliable access to capital: $1.8 billion raised to date

  5. We Manage The Full Life Cycle Of A Wind Project

  6. Our Key Development Areas Share High Energy Prices, Robust RPS, Tight Supply, Carbon Upside West • CA demand for green energy is the highest in the U.S. • Shrinking reserve margins Northeast • High energy prices • Shrinking reserve margins • Highest REC prices in U.S. Hawaii • Highest energy prices in U.S. • Oil dominated electricity and transport sectors • Aggressive transformation of current paradigm

  7. Breadth of Expertise with a Deep and Committed Management Team • 17 years of relevant management experience on average • 119 total employees CEO(1) • 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) • 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) • Finance (18) • CFO (1) • Accounting (14) • Finance (3) • HR (3) • Director (1) • HR (2)

  8. PROJECTS

  9. Kaheawa • 30 MW • Maui, HI • COD June 2006 • First Habitat Conservation Plan for a wind farm

  10. 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

  11. Steel Winds • 20 MW • Lackawanna, NY • Superfund site • COD June 2007 • Eight Clipper turbines

  12. Cohocton • 125 MW • Cohocton, NY80 miles south of Rochester • 50 Clipper turbines • Under construction

  13. Stetson • 57 MW • Washington County, Maine, 70 miles north of Bangor • 38 GE turbines • 35-mile 115 kV transmission line

  14. First Wind 85 Wells Ave. Newton, MA 02459 617-964-3340 svavrik@firstwind.com

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