Recommendation by WPD AG, Bremen (Germany)

Since 2001 the WPD AG is Germanys market leader in field of development and financial structuring of onshore wind farms. More than 70 wind farms with total rated power of more than 650 MW have been implemented so far. Operation and management of German wind farms is another fast-growing business unit. in addition, the WPD AG plays an active part in the offshore business and gains more and more access to the international markets, especially throughout Europe, Marocco and Asia. At the end of last year, Euler Hermes rated the solvency and future prospects of the company as "A".

We confirm that the German Wind Energy Institute (DEWI), Wilhelmshaven, does perform ongoing wind energy yield assessments and further technical services for wind farm projects in Germany for the WPD AG. We engage DEWI especially for review of wind energy projects offered from third party developers, where we take over the commercial development and financial structuring.

The largest ongoing project is the wind farm project "Havelland" located in Brandenburg, consisting of 76 wind turbines with overall

152 MW, which will be the largest project developed in Germany so far. DEWI is performing the wind farm energy yield assessment and uncertainty analysis for the involved banks' syndicate and further technical advice. We see an outstanding and unrestricted acceptance of the work from DEWI and involved banks.

Due to the quality, reputation and professionalism of the work, we engage DEWI also for the increasingly developing international project market, and we are considering DEWI for a wider scope of Due Dilligence services as required for international Project Finance.

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