Recommendation by Bremer Landesbank, Bremen (Germany)

Bremer Landesbank has been involved in the financing of wind energy projects since 1991. Up to now we have granted loans for wind turbines erected in Germany comprising an installed capacity exceeding 1.350 MW.

Since 1991 we have also been in business with Deutsches Windenergie-Institut GmbH (hereafter DEWI), having their registered office (headquarter) in 26382 Wilhelmshaven, Germany.

DEWI is a limited liability company and is fully owned by the state of Lower Saxony. It is completely independent from companies in the industry, business and finance as well from any non-private organisations.

DEWI offers and is successfully operating in the complete range of technical and meteorological consulting in the field of wind energy. Additionally DEWI operrates a wind turbine test site and performs all kinds of technical measurements. The whole range of DEWIs operational segmants are presented on the internet site www.dewi.de.

The main area of our business in relationship to DEWI is wind ressource and energy yield assessment as well as technical consultancy. DEWI has been one of our very few preffered consultants regarding energy yield assessment for wind farms. Exemplary we would like to mention our latest major project "Wind Farm Havelland", comprising 652 MW wind turbines on neighbouring sites, in which we acted as lead arranger on the debt financing. Our cash-flow projection for this project was based on DEWIs wind energy assessment. Another good example for DEWIs expierience, research efforts and reliability is the energy yield assessment for 36 MW Dahlenburg wind farm, finaced also by Bremer Landesbank. DEWI was performing measurements by met mast and SODAR, the energy yield and emission assessment and was acting as consultant during the contractual negotiations of the purchase contracts including   performance warranties. The long term yield prediction based on one-year operation data was in line with DEWIs assessment before the project start and it is still after 2 years of operation (Ref.: DEWI Magazine No. 24 - Febr. 2004 - page 63).

We have learned from our ongoing relationship that DEWI is very competent and takes the lead of new trends in their field corresponding to their efforts in research. We appreciate their reliability as well as their customer orientated service.

Yours faithfully,

Bremer Landesbank

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