Bringing Offshore Wind to Virginia Hampton Roads Wind Bringing Offshore Wind to Virginia June 2011 Apex Wind Energy, Inc. Queen Charlotte Square 244 East High Street Charlottesville, VA 22902 Tel:  434 220 7595 Fax: 434 220 3712 www.apexwind.com

Apex Wind Energy is a member of Greenlight Energy Resources BIOFUELS C O L U M B I A P O W E R ENERGY RESOURCES Sold to SunEdison, June ‘11 Wind Solar Biofuel Wave Apex Wind Energy was formed in 2008 to develop onshore and offshore wind energy facilities in North America. Apex is part of Greenlight Energy Resources, a company dedicated to investing in and developing renewable energy solutions. Greenlight has founded companies active in the development of wind, wave, solar, and biofuel resources.

Part of Virginia’s Business Community Apex Wind Energy is a national onshore and offshore wind developer based in Charlottesville, Virginia An experienced management team that have been involved in the development, procurement, or financing of 36 projects - over 5,100MW - of wind energy facilities now in commercial operations. A fully integrated development team comprised of 40+ professionals, including GIS, meteorology, permitting, electrical engineering, civil engineering, procurement, legal counsel, and project finance. Actively developing over 14,000MW of onshore and offshore wind energy capacity across 15 states Pursuing development of offshore projects in VA, NC, MD, NJ, PA, and NY Early member of the Virginia Offshore Wind Coalition (VOW). Working with VOW to promote Virginia as a hub for the offshore wind industry on the East Coast. Cedar Creek Windfarm 300MW in Colorado Steel Winds 20MW in New York Gulf Coast Wind Farm 283MW in Texas

Why Offshore Wind? Energetic winds allow turbines to generate a greater amount of electricity. Access to Stronger Winds Scale Advantage Able to build large projects in multiple phases to maximize economic development and minimize cost Offshore wind farms can provide energy to coastal areas which tend to be high population centers. Proximity to Areas of High Demand The construction and operation of offshore wind farms will create jobs and drive economic development in local communities. Additional economic impact provided through manufacturing and other supply-chain opportunities. Opportunity for Economic Development Emits no harmful emissions and may act as foundations for artificial reefs. Environmental Benefits Lowest cost, large-scale, in-state renewable resource that has the ability to meet increasing RPS requirements. Regulatory Compliance Price Hedge Offshore wind energy provides a hedge against volatile fossil fuel prices and provides price stability for ratepayers. Decreased Reliance on Imported Energy Virginia imports approximately 34% of its electricity, second only to California.

Why Offshore Wind? (cont’d) Virginia imports approximately 34% of its electricity, ranking the state as the second largest importer of electricity in the U.S. In 2008, Virginia imported 37,427,469 MWh A 1,700 MW offshore wind farm could reduce these imports by 15.9%. In-state generation facilities: Locate the energy closer to where it’s consumed Keep the energy dollars within the state Increase grid reliability Create short and long-term jobs.

Hampton Roads Wind Project Overview Apex filed the first unsolicited request for a lease area with the Bureau of Ocean Energy Management in August 2009. The current request is shown. Target area may change, subject to final area selected by BOEMRE.

Hampton Roads Wind Project Overview Project size 1,700MW+ Initial phase 500MW Est. generation 5,956,800MWh1 Site Between 20 and 40 miles from shore on approx 180 sq mi Provides the equivalent amount of electricity as is consumed by 496,400 households in Virginia Would generate approximately 25% more electricity than the Virginia Hybrid Energy Center, half of the electricity of the proposed Cypress Creek Power Station in Surry, and 40% as much electricity as the North Anna nuclear plant. Notes: 1) Assumes 40% Net Capacity Factor and average household use of 12,000kwh per year.

Development Timeline August 2009 Apex files an unsolicited lease request with the Bureau of Ocean Energy Management (BOEMRE) within the Department of the Interior December 2009 BOEMRE initiates Task Force to identify preferred areas for offshore wind development August 2010 Apex files with PJM to perform a Feasibility Study for 500MW January 2011 BOEMRE introduces “Smart for the Start” program. Apex enters into agreement with PJM to perform a System Impact Study for 500MW March 2011 Environmental Assessment (EA) launched on proposed area June 2011 Draft EA to be released for comment Summer 2011 BOEMRE to finalize proposed Call area 2012 If there is no competitive interest in area, BOEMRE to issue lease. If there is competitive interest, BOEMRE to hold auction for lease blocks. 2012-2015 Development of site through measurement of wind resource, wildlife studies, transmission studies, geophysical and geotechnical studies, engineering, and ongoing community outreach. 2015-2016 Anticipated construction of Phase I

Headlines from the European Offshore Wind Industry Siemens To Invest $128 Million In Construction of a Manufacturing Plant – Will Employ 800 by 2014 Gamesa Looks to Invest $200 Million in Offshore Wind at Locations Across the UK Between Now and 2014 Vestas to Open New Blade Development and Test Center on the Isle of Wight, 400 Jobs to be Created Japan's Mitsubishi Heavy Industries Announces $160 Million Investment Over Five Years On Offshore Wind Turbine Research and Development Center In Edinburgh, 200 Jobs Created by 2015 Swedish Utility Vattenfall Will Open New UK Headquarters In London – Utility Expects To Invest Billions of Pounds Into Britain's Wind Industry General Electric (GE) Announces Plans For An Offshore Wind Turbine Manufacturing Plant in Britain, Creating Up To 2,000 jobs Virginia can Attract a Similar Level of Investment

Next Steps Continue transmission interconnection studies through the PJM queue process. Secure lease through BOEMRE to enable us to perform more in-depth wind resource assessments, environmental studies, and geotechnical and geophysical studies. Optimize final layout and the size of the first project phase based on community input, environmental studies, construction costs, and demand for the energy. Identify and secure offtake agreements with one or more utilities to purchase the power. Select turbine technology and EPC partners based on experience, opportunity to provide most competitive cost of energy ,and optimization of economic development

For more information contact: Rob Propes – 919-710-3429 or rob@apexwind.com