Flying Cloud Power Partner LLC

Balance Sheet

as of March 31, 2004

Unaudited

	2004
Current Assets
Cash and cash equivalents	$	—
Accounts Receivable, net		376,308
Inventory		—
Prepaid expenses and other		—
FAS 133 derivative - current		—
Margin and other deposits		—
Total Current Assets		376,308
Property, Plant and Equipment
Production plant and operating equipment		47,204,621
Furniture, fixtures and other		—
Construction work in process		—
		47,204,621
Accumulated depreciation		(361,670	)
Net Property, Plant and Equipment		46,842,951
Other Assets
Goodwill		—
Investment in unconsolidated subsidiary		—
FAS 133 derivative - non-current		—
Other assets		—
Total other assets		—
TOTAL ASSETS	$	47,219,259
Current Liabilities
Capital lease - current	$	—
Accounts payable		80,417
Due to affiliate		46,074,441
Income taxes payable		—
Margin deposits		—
FAS 133 derivatives - current		—
Other liabilities		—
Total current liabilities		46,154,858
Debt and other liabilities
Intercompany notes payable		—
Capital lease - non-current		—
Deferred income taxes		—
FAS 133 derivatives - non-current		—
Other deferred liabilities		220,722
Total other liabilities		220,722
Shareholder Equity
Common stock		—
Foreign currency translation adjustment		—
Retained earning		843,679
Total shareholder equity		843,679
TOTAL LIABILITIES AND SHAREHOLDER EQUITY	$	47,219,259

Flying Cloud Power Partner LLC

Statement of Income

Year ended March 31, 2004

Unaudited

	2004
Revenues	$	1,381,353
Expense
Purchased energy		171,404
Unrealized purchases loss from origination and marketing		—
Natural gas		—
Operations and maintenance		—
Administration and general		—
Depreciation and amortization		361,670
Property taxes		4,600
		537,674
Operating income (loss)		843,679
Interest expense and other (income) expense
Loss (earnings) from unconsolidated joint venture		—
Interest (income) expense and other, net		—
Income (loss) before income taxes and accounting change		843,679
Income (tax) benefit		—
Net Income (loss)	$	843,679

Flying Cloud Power Partner LLC

Statement of Cash Flows

Year ended March 31, 2004

Unaudited

OPERATING ACTIVITIES
Net income	$	843,679
Adjustments to reconcile net income to net cash used by operating activities
Cumulative effect of accounting change, net of tax		—
Unrealized loss on derivative instruments		—
Depreciation and amortization		361,670
Deferred income tax, net		—
Other		—
Loss (gain) on sale of assets or subsidiary		—
Accounts receivable, prepayments, and other assets		(376,308	)
Margin deposits		—
Inventories		—
Accounts payable and other accrued liabilities		80,417
Customer margin deposits		—
Other		—
Net cash used by operating activities		909,458
INVESTING ACTIVITIES
Capital expenditures		(46,983,899	)
Purchase of a business		—
Proceeds from asset sales		—
Investment in unconsolidated subsidiary		—
Other		—
Net cash used in investing activities		(46,983,899	)
FINANCING ACTIVITIES
Proceeds from tax adjustment		—
Proceeds from affiliates’ notes payable		46,074,441
Principal payments for capital lease obligations		—
Other		—
Net cash provided by financing activities		46,074,441
Decrease in cash and cash equivalents		—
Effect of exchange rate		—
Cash and cash equivalents at beginning of year		—
Cash and cash equivalents at end of year	$	—

Klamath Energy LLC

Balance Sheet

Year ended March 31, 2004

Unaudited

	2004
Current Assets
Cash and cash equivalents	$	—		$	—
Accounts Receivable, net		—			—
Inventory		291,117					291,117
Prepaid expenses and other		97,310			85,601		11,709
FAS 133 derivative - current		—			—		—
Margin and other deposits		—			—		—
Total Current Assets		388,427			85,601
							—
Property, Plant and Equipment							—
Production plant and operating equipment		51,428,018			51,260,999		167,019
Furniture, fixtures and other		4,513					4,513
Construction work in process		1,705,886					1,705,886
		53,138,417			51,260,999
Accumulated depreciation		(2,604,931	)		(1,163,974	)	(1,440,957	)	(1,691	)
Net Property, Plant and Equipment		50,533,486			50,097,025
							—
Other Assets							—
Goodwill		—			—		—
Investment in unconsolidated subsidiary		—			—		—
FAS 133 derivative - non-current		—			—		—
Other assets		—			—		—
Total other assets		—			—		—
							—
TOTAL ASSETS	$	50,921,913		$	50,182,626
							—
							—
Current Liabilities							—
Capital lease - current	$	—		$	—		—
Accounts payable		33,936			238,480		204,544
Due to affiliate		51,807,044			50,990,241		(816,803	)
Income taxes payable		—					—
Margin deposits		—			—		—
FAS 133 derivatives - current		—			—		—
Other liabilities		—			—		—
Total current liabilities		51,840,980			51,228,721
							—
Debt and other liabilities							—
Intercompany notes payable		—			—		—
Capital lease - non-current		—			—		—
Deferred income taxes		—			—		—
FAS 133 derivatives - non-current		—			—		—
Other deferred liabilities		32,596					(32,596	)
Total other liabilities		32,596			—
							—
Shareholder Equity							—
Common stock		—			—		—
Foreign currency translation adjustment		—			—		—
Retained earning		(951,663	)		(1,046,095	)	(94,432	)
Total shareholder equity		(951,663	)		(1,046,095	)
							—
TOTAL LIABILITIES AND SHAREHOLDER EQUITY	$	50,921,913		$	50,182,626
		—			—

Klamath Energy LLC

Statement of Income

as of March 31, 2004

Unaudited

	2004
Revenues	$	2,447,064
Expense
Purchased energy		541,636
Unrealized purchases loss from origination and marketing		—
Natural gas		—
Operations and maintenance		—
Administration and general		—
Depreciation and amortization		1,439,266
Property taxes		369,195
		2,350,097
Operating income (loss)		96,967
Interest expense and other (income) expense
Loss (earnings) from unconsolidated joint venture		—
Interest (income) expense and other, net		—
Income (loss) before income taxes and accounting change		96,967
Income (tax) benefit		—
Cumulative effect of accounting change, net		2,535
Net Income (loss)	$	94,432

Klamath Energy LLC

Statement of Cash Flows

Year ended March 31,

Unaudited

OPERATING ACTIVITIES
Net income	$	94,432
Adjustments to reconcile net income to net cash used by operating activities
Cumulative effect of accounting change, net of tax		2,535
Unrealized loss on derivative instruments		—
Depreciation and amortization		1,439,266
Deferred income tax, net		—
Other		—
Loss (gain) on sale of assets or subsidiary		—
Accounts receivable, prepayments, and other assets		(10,018	)
Margin deposits		—
Inventories		(291,117	)
Accounts payable and other accrued liabilities		(207,079	)
Customer margin deposits		—
Other		—
Net cash used by operating activities		1,028,019
INVESTING ACTIVITIES
Capital expenditures		(1,844,822	)
Purchase of a business		—
Proceeds from asset sales		—
Investment in unconsolidated subsidiary		—
Other		—
Net cash used in investing activities		(1,844,822	)
FINANCING ACTIVITIES
Proceeds from tax adjustment		—
Proceeds from affiliates’ notes payable		816,803
Principal payments for capital lease obligations		—
Other		—
Net cash provided by financing activities		816,803
Decrease in cash and cash equivalents		—
Effect of exchange rate		—
Cash and cash equivalents at beginning of year		—
Cash and cash equivalents at end of year	$	—
		—

Klondike Wind Power LLC

Balance Sheet

as of March 31, 2004

Unaudited

	2004
Current Assets
Cash and cash equivalents	$	—		$	—
Accounts Receivable, net		187,320			249,620	(62,300	)
Inventory		—				—
Prepaid expenses and other		402,693			51,427	351,266
FAS 133 derivative - current		—			—	—
Margin and other deposits		—			—	—
Total Current Assets		590,013			301,047
						—
Property, Plant and Equipment						—
Production plant and operating equipment		17,138,303			16,894,258	244,045
Furniture, fixtures and other		—				—
Construction work in process		1,420,635				1,420,635
		18,558,939			16,894,258
Accumulated depreciation		(757,061	)			(757,061	)	(428	)
Net Property, Plant and Equipment		17,801,878			16,894,258
						—
						—
Other Assets						—
Goodwill		—			—	—
Investment in unconsolidated subsidiary		—			—	—
FAS 133 derivative - non-current		—			—	—
Other assets		—			—	—
Total other assets		—			—	—
TOTAL ASSETS	$	18,391,891		$	17,195,305
						—
						—
Current Liabilities						—
Capital lease - current	$	—		$	—	—
Accounts payable		1,643			98,692	97,049
Due to affiliate		17,472,900			16,913,907	(558,993	)
Income taxes payable		—				—
Margin deposits		—			—	—
FAS 133 derivatives - current		—			—	—
Other liabilities		142,500			—	(142,500	)
Total current liabilities		17,617,043			17,012,599
						—
Debt and other liabilities						—
Intercompany notes payable		—			—	—
Capital lease - non-current		—			—	—
Deferred income taxes		—			—	—
FAS 133 derivatives - non-current		—			—	—
Other deferred liabilities		137,526				(137,526	)
Total other liabilities		137,526			—
						—
Shareholder Equity						—
Common stock		—			—	—
Foreign currency translation adjustment		—			—	—
Retained earning		637,322			182,706	(454,616	)
Total shareholder equity		637,322			182,706
TOTAL LIABILITIES AND SHAREHOLDER EQUITY	$	18,391,891		$	17,195,305	—
		0			—

Klondike Wind Power LLC

Statement of Income

Year ended March 31, 2004

Unaudited

	2004
Revenues	$	2,054,973
Expense
Purchased energy		582,864
Unrealized purchases loss from origination and marketing		—
Natural gas		—
Operations and maintenance		—
Administration and general		—
Depreciation and amortization		756,633
Property taxes		258,756
		1,598,253
Operating income (loss)		456,720
Interest expense and other (income) expense
Loss (earnings) from unconsolidated joint venture		—
Interest (income) expense and other, net		—
Income (loss) before income taxes and accounting change		456,720
Income (tax) benefit		—
Cumulative effect of accounting change, net		2,104
Net Income (loss)	$	454,616
Klondike Wind Power LLC Statement of Cash Flows Year ended March 31, Unaudited
OPERATING ACTIVITIES
Net income	$	454,616
Adjustments to reconcile net income to net cash used by operating activities
Cumulative effect of accounting change, net of tax		2,104
Unrealized loss on derivative instruments		—
Depreciation and amortization		756,633
Deferred income tax, net		—
Other		—		extraordinary change
Loss (gain) on sale of assets or subsidiary		—
Accounts receivable, prepayments, and other assets		(288,538	)
Margin deposits		—
Inventories		—
Accounts payable and other accrued liabilities		(99,153	)
Customer margin deposits		—
Other		—
Net cash used by operating activities		825,662
INVESTING ACTIVITIES
Capital expenditures		(1,384,655	)
Purchase of a business		—
Proceeds from asset sales		—
Investment in unconsolidated subsidiary		—
Other		—
Net cash used in investing activities		(1,384,655	)
FINANCING ACTIVITIES
Proceeds from tax adjustment		—
Proceeds from affiliates’ notes payable		558,993
Principal payments for capital lease obligations		—
Other		—
Net cash provided by financing activities		558,993
Decrease in cash and cash equivalents		—
Effect of exchange rate		—
Cash and cash equivalents at beginning of year		—
Cash and cash equivalents at end of year	$	—
		—

Moraine Wind LLC

Balance Sheet

as of March 31, 2004

Unaudited

	2004
Current Assets
Cash and cash equivalents	$	—		$	—
Accounts Receivable, net		824,715			—		824,715
Inventory		—					—
Prepaid expenses and other		—					—
FAS 133 derivative - current		—			—		—
Margin and other deposits		—			—		—
Total Current Assets		824,715			—
							—
Property, Plant and Equipment							—
Production plant and operating equipment		55,240,242					55,240,242
Furniture, fixtures and other		—					—
Construction work in process		—					—
		55,240,242			—
Accumulated depreciation		(421,112	)				(421,112	)	—
Net Property, Plant and Equipment		54,819,130			—
							—
Other Assets							—
Goodwill		—			—		—
Investment in unconsolidated subsidiary		—			—		—
FAS 133 derivative - non-current		—			—		—
Other assets		—			—		—
Total other assets		—			—		—
TOTAL ASSETS	$	55,643,845		$	—		—
							—
							—
Current Liabilities							—
Capital lease - current	$	—		$	—		—
Accounts payable		152,255					(152,255	)
Due to affiliate		54,184,038			2,244		(54,181,794	)
Income taxes payable		—					—
Margin deposits		—			—		—
FAS 133 derivatives - current		—			—		—
Other liabilities		—			—		—
Total current liabilities		54,336,293			2,244
							—
Debt and other liabilities							—
Intercompany notes payable		—			—		—
Capital lease - non-current		—			—		—
Deferred income taxes		—			—		—
FAS 133 derivatives - non-current		—			—		—
Other deferred liabilities		195,065					(195,065	)
Total other liabilities		195,065			—
Shareholder Equity							—
Common stock		—			—		—
Foreign currency translation adjustment		—			—		—
Retained earning		1,112,487			(2,244	)	(1,114,731	)
Total shareholder equity		1,112,487			(2,244	)
TOTAL LIABILITIES AND SHAREHOLDER EQUITY	$	55,643,845		$	—		—
		—			—

Moraine Wind LLC

Statement of Income

Year ended March 31, 2004

Unaudited

	2004
Revenues	$	1,796,948
Expense
Purchased energy		209,305
Unrealized purchases loss from origination and marketing		—
Natural gas		—
Operations and maintenance		—
Administration and general		—
Depreciation and amortization		421,112
Property taxes		51,800
		682,217
Operating income (loss)		1,114,731
Interest expense and other (income) expense
Loss (earnings) from unconsolidated joint venture		—
Interest (income) expense and other, net		—
Income (loss) before income taxes and accounting change		1,114,731
Income (tax) benefit		—
Net Income (loss)	$	1,114,731

Moraine Wind LLC

Statement of Cash Flows

Year ended March 31,

Unaudited

OPERATING ACTIVITIES
Net income	$	1,114,731
Adjustments to reconcile net income to net cash used by operating activities
Cumulative effect of accounting change, net of tax		—
Unrealized loss on derivative instruments		0
Depreciation and amortization		421,112
Deferred income tax, net		0
Other		—
Loss (gain) on sale of assets or subsidiary		—
Accounts receivable, prepayments, and other assets		(824,715	)
Margin deposits		—
Inventories		—
Accounts payable and other accrued liabilities		152,255
Customer margin deposits		—
Other		—
Net cash used by operating activities		863,383
INVESTING ACTIVITIES
Capital expenditures		(55,045,177	)
Purchase of a business		—
Proceeds from asset sales		—
Investment in unconsolidated subsidiary		—
Other		—
Net cash used in investing activities		(55,045,177	)
FINANCING ACTIVITIES
Proceeds from tax adjustment		—
Proceeds from affiliates’ notes payable		54,181,794
Principal payments for capital lease obligations		—
Other		—
Net cash provided by financing activities		54,181,794
Decrease in cash and cash equivalents		—
Effect of exchange rate		—
Cash and cash equivalents at beginning of year		—
Cash and cash equivalents at end of year	$	—
		—

Phoenix Wind Power LLC

Balance Sheet

as of March 31, 2004

Unaudited

	2004
Current Assets
Cash and cash equivalents	$	—		$	—
Accounts Receivable, net		—			—		—
Inventory		—					—
Prepaid expenses and other		6,352					6,352
FAS 133 derivative - current		—			—		—
Margin and other deposits		2,700			—		2,700
Total Current Assets		9,052			—
							—
Property, Plant and Equipment							—
Production plant and operating equipment		2,659,580			2,613,212		46,368
Furniture, fixtures and other		—					—
Construction work in process		—					—
		2,659,580			2,613,212
Accumulated depreciation		(429,273	)		(323,284	)	(105,989	)	0
Net Property, Plant and Equipment		2,230,307			2,289,928
							—
Other Assets							—
Goodwill		—			—		—
Investment in unconsolidated subsidiary		—			—		—
FAS 133 derivative - non-current		—			—		—
Other assets		—			—		—
Total other assets		—			—		—
TOTAL ASSETS	$	2,239,359		$	2,289,928		—
							—
							—
Current Liabilities							—
Capital lease - current	$	—		$	—		—
Accounts payable		191,639			—		(191,639	)
Due to affiliate		1,836,678			1,750,879		(85,799	)
Income taxes payable		—					—
Margin deposits		—			—		—
FAS 133 derivatives - current		—			—		—
Other liabilities		—			—		—
Total current liabilities		2,028,317			1,750,879
							—
Debt and other liabilities							—
Intercompany notes payable		—			—		—
Capital lease - non-current		—			—		—
Deferred income taxes		—			—		—
FAS 133 derivatives - non-current		—			—		—
Other deferred liabilities		46,367					(46,367	)
Total other liabilities		46,367			—
							—
Shareholder Equity							—
Common stock		—			—		—
Foreign currency translation adjustment		—			—		—
Retained earning		164,675			539,049		374,374
Total shareholder equity		164,675			539,049
TOTAL LIABILITIES AND SHAREHOLDER EQUITY	$	2,239,359		$	2,289,928		—
		—			—

Phoenix Wind Power LLC

Statement of Income

Year ended March 31, 2004

Unaudited

	2004
Revenues	$	140,538
Expense
Purchased energy		273,715
Unrealized purchases loss from origination and marketing		—
Natural gas		—
Operations and maintenance		—
Administration and general		116,150
Depreciation and amortization		105,989
Property taxes		19,058
		514,912
Operating income (loss)		(374,374	)
Interest expense and other (income) expense
Loss (earnings) from unconsolidated joint venture		—
Interest (income) expense and other, net		—
Income (loss) before income taxes and accounting change		(374,374	)
Income (tax) benefit		—
Net Income (loss)	$	(374,374	)

Phoenix Wind Power LLC

Statement of Cash Flows

Year ended March 31,

Unaudited

OPERATING ACTIVITIES
Net income	$	(374,374	)
Adjustments to reconcile net income to net cash used by operating activities
Cumulative effect of accounting change, net of tax		—
Unrealized loss on derivative instruments		—
Depreciation and amortization		105,989
Deferred income tax, net		—
Other		—
Loss (gain) on sale of assets or subsidiary		—
Accounts receivable, prepayments, and other assets		(6,352	)
Margin deposits		(2,700	)
Inventories		—
Accounts payable and other accrued liabilities		191,638
Customer margin deposits		—
Other		—
Net cash used by operating activities		(85,799	)
INVESTING ACTIVITIES
Capital expenditures		—
Purchase of a business		—
Proceeds from asset sales		—
Investment in unconsolidated subsidiary		—
Other		—
Net cash used in investing activities		—
FINANCING ACTIVITIES
Proceeds from tax adjustment		—
Proceeds from affiliates’ notes payable		85,799
Principal payments for capital lease obligations		—
Other		—
Net cash provided by financing activities		85,799
Decrease in cash and cash equivalents		—
Effect of exchange rate		—
Cash and cash equivalents at beginning of year		—
Cash and cash equivalents at end of year	$	—
		—

Mountain View Power Partners III LLC

Balance Sheet

as of March 31, 2004

Unaudited

	2004
Current Assets
Cash and cash equivalents	$	—
Accounts Receivable, net		164,162
Inventory		—
Prepaid expenses and other		106,960
FAS 133 derivative - current		—
Margin and other deposits		128,000
Total Current Assets		399,122
Property, Plant and Equipment
Land		1,959,891
Production plant and operating equipment		31,032,945
Furniture, fixtures and other		—
Construction work in process		—
		32,992,836
Accumulated depreciation		(255,288	)
Net Property, Plant and Equipment		32,737,548
Other Assets
Goodwill		—
Investment in unconsolidated subsidiary		—
FAS 133 derivative - non-current		—
Other assets		—
Total other assets		—
TOTAL ASSETS	$	33,136,670
Current Liabilities
Capital lease - current	$	—
Accounts payable		74,291
Due to affiliate		32,701,172
Income taxes payable		—
Margin deposits		—
FAS 133 derivatives - current		—
Other liabilities		—
Total current liabilities		32,775,463
Debt and other liabilities
Intercompany notes payable		—
Capital lease - non-current		—
Deferred income taxes		—
FAS 133 derivatives - non-current		—
Other deferred liabilities		269,830
Total other liabilities		269,830
Shareholder Equity
Common stock		—
Foreign currency translation adjustment		—
Retained earning		91,377
Total shareholder equity		91,377
TOTAL LIABILITIES AND SHAREHOLDER EQUITY	$	33,136,670

Mountain View Power Partners III LLC

Statement of Income

Year ended March 31, 2004

Unaudited

	2004
Revenues	$	544,141
Expense
Purchased energy		108,975
Unrealized purchases loss from origination and marketing		—
Natural gas		—
Operations and maintenance		—
Administration and general		—
Depreciation and amortization		255,289
Property taxes		88,500
		452,764
Operating income (loss)		91,377
Interest expense and other (income) expense
Loss (earnings) from unconsolidated joint venture		—
Interest (income) expense and other, net		—
Income (loss) before income taxes and accounting change		91,377
Income (tax) benefit		—
Net Income (loss)	$	91,377

Mountain View Power Partners III LLC

Statement of Cash Flows

Year ended March 31, 2004

Unaudited

OPERATING ACTIVITIES
Net income	$	91,377
Adjustments to reconcile net income to net cash used by operating activities
Cumulative effect of accounting change, net of tax		—
Unrealized loss on derivative instruments		—
Depreciation and amortization		255,289
Deferred income tax, net		—
Other		—
Loss (gain) on sale of assets or subsidiary		—
Accounts receivable, prepayments, and other assets		(271,123	)
Margin deposits		(128,000	)
Inventories		—
Accounts payable and other accrued liabilities		74,291
Customer margin deposits		—
Other		—
Net cash used by operating activities		21,834
INVESTING ACTIVITIES
Capital expenditures		(32,723,006	)
Purchase of a business		—
Proceeds from asset sales		—
Investment in unconsolidated subsidiary		—
Other		—
Net cash used in investing activities		(32,723,006	)
FINANCING ACTIVITIES
Proceeds from tax adjustment		—
Proceeds from affiliates’ notes payable		32,701,172
Principal payments for capital lease obligations		—
Other		—
Net cash provided by financing activities		32,701,172
Decrease in cash and cash equivalents		—
Effect of exchange rate		—
Cash and cash equivalents at beginning of year		—
Cash and cash equivalents at end of year	$	—

Colorado Green Holdings LLC

Balance Sheet

as of December 31, 2003

Unaudited

	2003
Current Assets
Cash and cash equivalents	$	508
Accounts Receivable, net		372,628
Inventory		—
Prepaid expenses and other		868,332
FAS 133 derivative - current		—
Margin and other deposits		—
Total Current Assets		1,241,468
Property, Plant and Equipment
Production plant and operating equipment		201,089,597
Land		18,068
Other		411,932
		201,519,597
Accumulated depreciation		(316,257	)
Net Property, Plant and Equipment		201,203,340
Other Assets
Goodwill		—
Investment in unconsolidated subsidiary		—
FAS 133 derivative - non-current		—
Other assets		—
Total other assets		—
TOTAL ASSETS	$	202,444,808
Current Liabilities
Capital lease - current	$	—
Accounts payable		6,148,060
Due to affiliate		—
Income taxes payable		—
Margin deposits		—
FAS 133 derivatives - current		—
Other liabilities		—
Total current liabilities		6,148,060
Debt and other liabilities
Other long term notes payable		—
Construction note, convertible to long term note		116,988,478
Deferred income taxes		—
FAS 133 derivatives - non-current		—
Asset retirement obligation		764,920
Total other liabilities		117,753,398
Member’s equity
Contributed capital		78,489,162
Foreign currency translation adjustment		—
Retained earning		54,188
Total shareholder equity		78,543,350
TOTAL LIABILITIES AND SHAREHOLDER EQUITY	$	202,444,808

Colorado Green Holdings LLC

Statement of Income

Year ended December 31, 2003

Unaudited

	2003
Revenues	$	372,628
Expense
Purchased energy		—
Unrealized purchases loss from origination and marketing		—
Natural gas		—
Operations and maintenance		—
Administration and general		—
Depreciation and amortization		316,257
Property taxes		2,541
		318,798
Operating income (loss)		53,830
Interest expense and other (income) expense
Loss (earnings) from unconsolidated joint venture		—
Interest (income) expense and other, net		(358	)
Income (loss) before income taxes and accounting change		54,188
Income (tax) benefit		—
Net Income (loss)	$	54,188

Colorado Green Holdings LLC

Statement of Cash Flows

Year ended December 31, 2003

Unaudited

OPERATING ACTIVITIES
Net income	$	54,188
Adjustments to reconcile net income to net cash used by operating activities
Cumulative effect of accounting change, net of tax		—
Unrealized loss on derivative instruments		—
Depreciation and amortization		316,257
Deferred income tax, net		—
Other		—
Loss (gain) on sale of assets or subsidiary		—
Accounts receivable, prepayments, and other assets		(1,240,960	)
Margin deposits		—
Inventories		—
Accounts payable and other accrued liabilities		6,148,060
Customer margin deposits		—
Other		—
Net cash used by operating activities		5,277,545
INVESTING ACTIVITIES
Capital expenditures		(200,754,677	)
Purchase of a business		—
Proceeds from asset sales		—
Investment in unconsolidated subsidiary		—
Other		—
Net cash used in investing activities		(200,754,677	)
FINANCING ACTIVITIES
Proceeds from note issuance		116,988,478
Proceeds from affiliates’ notes payable		—
Proceeds from contributed capital		78,489,162
Other		—
Net cash provided by financing activities		195,477,640
Increase in cash and cash equivalents		508
Effect of exchange rate		—
Cash and cash equivalents at beginning of year		—
Cash and cash equivalents at end of year	$	508

PPM Alta Mesa LLC

Balance Sheet

as of March 31, 2004

Unaudited

	2004
Current Assets
Cash and cash equivalents	$	—
Accounts Receivable, net		—
Inventory		—
Prepaid expenses and other		—
FAS 133 derivative - current		—
Margin and other deposits		—
Total Current Assets		—
Property, Plant and Equipment
Production plant and operating equipment		—
Furniture, fixtures and other		—
Construction work in process		—
		—
Accumulated depreciation		—
Net Property, Plant and Equipment		—
Other Assets
Goodwill		—
Investment in unconsolidated subsidiary		—
FAS 133 derivative - non-current		—
Other assets		—
Total other assets		—
TOTAL ASSETS	$	—
Current Liabilities
Capital lease - current	$	—
Accounts payable		—
Due to affiliate		—
Income taxes payable		—
Margin deposits		—
FAS 133 derivatives - current		—
Other liabilities		—
Total current liabilities		—
Debt and other liabilities
Intercompany notes payable		—
Capital lease - non-current		—
Deferred income taxes		—
FAS 133 derivatives - non-current		—
Other deferred liabilities		—
Total other liabilities		—
Shareholder Equity
Common stock		—
Foreign currency translation adjustment		—
Retained earning		—
Total shareholder equity		—
TOTAL LIABILITIES AND SHAREHOLDER EQUITY	$	—

PPM Alta Mesa LLC

Statement of Income

Year ended March 31, 2004

Unaudited

	2004
Revenues	$	—
Expense
Purchased energy		—
Unrealized purchases loss from origination and marketing		—
Natural gas		—
Operations and maintenance		—
Administration and general		—
Depreciation and amortization		—
Property taxes		—
		—
Operating income (loss)		—
Interest expense and other (income) expense
Loss (earnings) from unconsolidated joint venture		—
Interest (income) expense and other, net		—
Income (loss) before income taxes and accounting change		—
Income (tax) benefit		—
Net Income (loss)	$	—

PPM Alta Mesa LLC

Statement of Cash Flows

Year ended March 31, 2004

Unaudited

OPERATING ACTIVITIES
Net income	$	—
Adjustments to reconcile net income to net cash used by operating activities
Cumulative effect of accounting change, net of tax		—
Unrealized loss on derivative instruments		—
Depreciation and amortization		—
Deferred income tax, net		—
Other		—
Loss (gain) on sale of assets or subsidiary		—
Accounts receivable, prepayments, and other assets		—
Margin deposits		—
Inventories		—
Accounts payable and other accrued liabilities		—
Customer margin deposits		—
Other		—
Net cash used by operating activities		—
INVESTING ACTIVITIES
Capital expenditures		—
Purchase of a business		—
Proceeds from asset sales		—
Investment in unconsolidated subsidiary		—
Other		—
Net cash used in investing activities		—
FINANCING ACTIVITIES
Proceeds from tax adjustment		—
Proceeds from affiliates’ notes payable		—
Principal payments for capital lease obligations		—
Other		—
Net cash provided by financing activities		—
Decrease in cash and cash equivalents		—
Effect of exchange rate		—
Cash and cash equivalents at beginning of year		—
Cash and cash equivalents at end of year	$	—
		—

Ivanhoe Wind Energy LLC

Balance Sheet

as of March 31, 2004

Unaudited

	2004
Current Assets
Cash and cash equivalents	$	—
Accounts Receivable, net		—
Inventory		—
Prepaid expenses and other		—
FAS 133 derivative - current		—
Margin and other deposits		—
Total Current Assets		—
Property, Plant and Equipment
Production plant and operating equipment		—
Furniture, fixtures and other		—
Construction work in process		—
		—
Accumulated depreciation		—
Net Property, Plant and Equipment		—
Other Assets
Goodwill		—
Investment in unconsolidated subsidiary		—
FAS 133 derivative - non-current		—
Other assets		—
Total other assets		—
TOTAL ASSETS	$	—
Current Liabilities
Capital lease - current	$	—
Accounts payable		—
Due to affiliate		—
Income taxes payable		—
Margin deposits		—
FAS 133 derivatives - current		—
Other liabilities		—
Total current liabilities		—
Debt and other liabilities
Intercompany notes payable		—
Capital lease - non-current		—
Deferred income taxes		—
FAS 133 derivatives - non-current		—
Other deferred liabilities		—
Total other liabilities		—
Shareholder Equity
Common stock		—
Foreign currency translation adjustment		—
Retained earning		—
Total shareholder equity		—
TOTAL LIABILITIES AND SHAREHOLDER EQUITY	$	—

Ivanhoe Wind Energy LLC

Statement of Income

Year ended March 31, 2004

Unaudited

	2004
Revenues	$	—
Expense
Purchased energy		—
Unrealized purchases loss from origination and marketing		—
Natural gas		—
Operations and maintenance		—
Administration and general		—
Depreciation and amortization		—
Property taxes		—
		—
Operating income (loss)		—
Interest expense and other (income) expense
Loss (earnings) from unconsolidated joint venture		—
Interest (income) expense and other, net		—
Income (loss) before income taxes and accounting change		—
Income (tax) benefit		—
Net Income (loss)	$	—

Ivanhoe Wind Energy LLC

Statement of Cash Flows

Year ended March 31, 2004

Unaudited

OPERATING ACTIVITIES
Net income	$	—
Adjustments to reconcile net income to net cash used by operating activities
Cumulative effect of accounting change, net of tax		—
Unrealized loss on derivative instruments		—
Depreciation and amortization		—
Deferred income tax, net		—
Other		—
Loss (gain) on sale of assets or subsidiary		—
Accounts receivable, prepayments, and other assets		—
Margin deposits		—
Inventories		—
Accounts payable and other accrued liabilities		—
Customer margin deposits		—
Other		—
Net cash used by operating activities		—
INVESTING ACTIVITIES
Capital expenditures		—
Purchase of a business		—
Proceeds from asset sales		—
Investment in unconsolidated subsidiary		—
Other		—
Net cash used in investing activities		—
FINANCING ACTIVITIES
Proceeds from tax adjustment		—
Proceeds from affiliates’ notes payable		—
Principal payments for capital lease obligations		—
Other		—
Net cash provided by financing activities		—
Decrease in cash and cash equivalents		—
Effect of exchange rate		—
Cash and cash equivalents at beginning of year		—
Cash and cash equivalents at end of year	$	—

Mountain View Green LLC

Balance Sheet

as of March 31, 2004

Unaudited

	2004
Current Assets
Cash and cash equivalents	$	—
Accounts Receivable, net		—
Inventory		—
Prepaid expenses and other		—
FAS 133 derivative - current		—
Margin and other deposits		—
Total Current Assets		—
Property, Plant and Equipment
Production plant and operating equipment		—
Furniture, fixtures and other		—
Construction work in process		—
		—
Accumulated depreciation		—
Net Property, Plant and Equipment		—
Other Assets
Goodwill		—
Investment in unconsolidated subsidiary		—
FAS 133 derivative - non-current		—
Other assets		—
Total other assets		—
TOTAL ASSETS	$	—
Current Liabilities
Capital lease - current	$	—
Accounts payable		—
Due to affiliate		—
Income taxes payable		—
Margin deposits		—
FAS 133 derivatives - current		—
Other liabilities		—
Total current liabilities		—
Debt and other liabilities
Intercompany notes payable		—
Capital lease - non-current		—
Deferred income taxes		—
FAS 133 derivatives - non-current		—
Other deferred liabilities		—
Total other liabilities		—
Shareholder Equity
Common stock		—
Foreign currency translation adjustment		—
Retained earning		—
Total shareholder equity		—
TOTAL LIABILITIES AND SHAREHOLDER EQUITY	$	—

Mountain View Green LLC

Statement of Income

Year ended March 31, 2004

Unaudited

	2004
Revenues	$	—
Expense
Purchased energy		—
Unrealized purchases loss from origination and marketing		—
Natural gas		—
Operations and maintenance		—
Administration and general		—
Depreciation and amortization		—
Property taxes		—
		—
Operating income (loss)		—
Interest expense and other (income) expense
Loss (earnings) from unconsolidated joint venture		—
Interest (income) expense and other, net		—
Income (loss) before income taxes and accounting change		—
Income (tax) benefit		—
Net Income (loss)	$	—

Mountain View Green LLC

Statement of Cash Flows

Year ended March 31, 2004

Unaudited

OPERATING ACTIVITIES
Net income	$	—
Adjustments to reconcile net income to net cash used by operating activities
Cumulative effect of accounting change, net of tax		—
Unrealized loss on derivative instruments		—
Depreciation and amortization		—
Deferred income tax, net		—
Other		—
Loss (gain) on sale of assets or subsidiary		—
Accounts receivable, prepayments, and other assets		—
Margin deposits		—
Inventories		—
Accounts payable and other accrued liabilities		—
Customer margin deposits		—
Other		—
Net cash used by operating activities		—
INVESTING ACTIVITIES
Capital expenditures		—
Purchase of a business		—
Proceeds from asset sales		—
Investment in unconsolidated subsidiary		—
Other		—
Net cash used in investing activities		—
FINANCING ACTIVITIES
Proceeds from tax adjustment		—
Proceeds from affiliates’ notes payable		—
Principal payments for capital lease obligations		—
Other		—
Net cash provided by financing activities		—
Decrease in cash and cash equivalents		—
Effect of exchange rate		—
Cash and cash equivalents at beginning of year		—
Cash and cash equivalents at end of year	$	—