Clean, Reliable, and Low Cost Energy for the for theCaribbean December, 2006 Confidential

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)

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

Neptune Project Under Construction

West Coast Cable 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. Additional developments include: 1020km Cable Route

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

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

Project and Technology Overview  CARITrans is developing 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 MW of electricity

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

Project and Technology Overview Detailed Bathymetric Analysis have been conducted

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

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

Project Development Highlights  Project feasibility and assessment completed  Power sources identified  Project finance sources identified

St Thomas – St Croix Interconnect

Interconnection Benefits Reduces cost of current operations Reduces need to build costly new generation Maximizes reliability of both Island systems Allows sharing of resources to reduce impact of outages Positions VI WAPA to receive low-cost renewable power from future Caribbean network Will also enable VI WAPA to export power derived from local resources Project can be completed in 2+ years

Clean, Reliable, and Low Cost Energy for the for theCaribbean December, 2006 Confidential