1. VALMONT WIND ENERGY, INC. MODULAR TOWER SYSTEMS

2. Presentation Overview Bigger Machines Modular Tower Systems (MTS) Transportation Restrictions Flexible site Management Standardized Transportation Loads Cost Benefits and Comparisons

3. Is BIGGER always better? Larger wind turbines –2.5 MW – 3 MW w/ 100 meter rotors Larger Tower –70 – 100 meters –100 – 200 tons Larger Trucks –Custom heavy haul trailers

4. Is BIGGER always better? (Cont.) Larger Cranes –400 – 600 ton crawlers with 400’ booms This all equals more efficient turbines… But also: More expensive transportation and installation

5. Over length – 85’ Over width – 14’ Over height – 14’ Over weight – 115,000 lbs Painted surfaces prone to scratch = RUST Tower is often an afterthought by the turbine manufactures Tower Transportation today Base section 80m tower

7. TRANSPORTATION Conventional 80m Tower: Over Length / Over Width / Over Height / Over Weight Cost: $60-80K for 500 Miles Transportation MTS: Ships Via Standard Flatbed Trailers Cost Savings on Freight: 50-70%

8. MTS: Modular Tower Systems -Broad Market Application -Mimics Industry Standard Tapered Design -Increased Bottom Diameter Options -Conventional Crane Installation -Low Freight Costs -Multiple Coating Options -‘Simple’, Low-Labor Content

9. MTS P RIMARY C OMPONENTS T-FLANGESTRANSITION CASTING PETALFRICTION PLATE

10. P ETALS Allows For Very Large Diameters Enables Increased Tower Heights Opportunity To Use Lower Strength Steel (A-36) Dependent Upon Use Of Bolted Connections Can Be Galvanized Thickness Range: 3/8”-1” For Towers Up To 2.5MW/80m

11. F RICTION P LATES Bolted Friction Connection Excellent Fatigue Characteristics Commonly Used in Bridge Construction World Wide Allows for Complete Installation from Inside the Tower

12. T-F LANGES Segmented Base Flange Design Addresses Freight & Field Installation Objectives Standard Anchor Bolt Connection to Foundation Friction Plate Connection to Tower

13. T RANSITION CASTING Cast Design Solves Geometry Transition Issues Mates Seamlessly with Turbine Base Flange Most Technically Complex Component of MTS Design

22. WIND ENERGY

33. Hub height: 65 meters Weight: 220.000 lbs Sections: 4 Petals per section: 4 Standard trucks: 7 First installation: December 2 nd 2005

35. Competitive Advantages Standard transportation to site –$70,000 vs. $16,000 (500 miles) Site assembly –Less than $9,000 per tower Tower price FOB factory –Same or lower than conventional

36. Competitive Advantages (Cont.) Tower Installation –4 sections vs. 3 sections Savings are site dependent Faster lead time than conventional towers Working closely with Developers and Manufactures to optimize savings.

37. Recent Market Trends Surging fossil fuel prices put alternatives in the spotlight With low volatility, wind is becoming interesting to large utilities Disruption of the U.S. oil production as a result of Hurricane Katrina and Rita has put upward pressure on the oil prices

38. Recent Market Trends (Cont.) Elevated natural gas price and high volatility plus political initiatives, should spur broader interest for alternative energy among U.S. utilities. Wind is currently the lowest cost alternative Declining interest rates will improve wind energy competitiveness further.

39. THANK YOU!