Agreement With Newfoundland and Labrador Hydro to Build 27 MW

Market News Publishing December 13, 2007 Thursday 10:56 PM PST

Wind Power Project in Fermeuse SkyPower Corp . (” SkyPower” ), a company affiliated with Lehman Brothers, announced that it signed a 20-year power purchase agreement with Newfoundland and Labrador Hydro (“Hydro”) to  build, operate and sell power  from  a 27  MW  Wind Project  to be located  in Newfoundland  and Labrador.  The project is located near the town  of Fermeuse,  will comprise  nine  3.0 MW  wind  turbines  and  is expected  to be in operation  by the end of 2008. 

“The Government of Newfoundland and Labrador has developed one of the  most  progressive energy policies in the country and their support for the development  of wind power is exemplary,”  said Kerry  Adler,  CEO of SkyPower. “The Town of Fermeuse is located in one of the highest wind  sites  in  the  country  and  I  am pleased  to have the opportunity  to work with Hydro to harness  the wind and build a major  renewable  energy  project  for this region.” “I am excited to see the wind farm proceed towards its plan for construction next year and with the benefits it will bring to the area. We are thrilled that  SkyPower  has chosen  to develop  its project here in Fermeuse  and   we   welcome   the   project,”   said   Fermeuse   Mayor   Patricia   Coady.   

About   SkyPower:   

SkyPower   Corp. ( www.skypower.com ), a company affiliated with Lehman Brothers, is Canada’s leading  independent  renewable energy developer with interests in over 70 wind and solar projects at various stages of development across 12 provinces/states, representing more than 7,000 MW of potential  capacity.  SkyPower  also  has  over  1,000  MW  of wind energy under development in India. SkyPower’s strategy involves bringing a portfolio  of  renewable  energy projects from exploration phase through to construction and  commercial  operation  and  is  focused  on  being  the largest owner and operator of renewable energy parks across  Canada.  In June  2007,  SkyPower  became  affiliated with Lehman Brothers, the global investment bank.