Canada - Ontario - The Providence Bay Wind Farm

The Providence Bay Wind Farm is an operating 1.6 MW wind farm located near the towns of Providence Bay and Spring Bay, in the Township of Central Manitoulin, Manitoulin Island Ontario. Two Enercon E-48 800 kW wind turbine generators were commissioned and put into operation at Providence Bay on March 25, 2007. The related Providence Bay Expansion Project is in the Advanced-Stage of development.

The Providence Bay Wind Farm and the Providence Bay Expansion Project are, together, expected to have the development potential for an installed capacity of up to 8.1 MW. Schneider Power Providence Bay Inc. entered into two 20-year PPAs on May 19, 2006 and October 30, 2006, respectively with Bullfrog providing for the purchase by Bullfrog of a total of 1.6 MW wind power capacity.

Revenue in 2008 increased 49% on generation of 3.1 MWh compared to 2.1 MWh in 2007. All of the revenue is generated from our Providence Bay Wind Farm in Ontario which was commissioned in March, 2007. Therefore, the increase was directly attributed to the short operational year in 2007 and the controlled lower capacity factor due to the initial months of testing in 2007. The capacity factor, which is a measure of the total actual output as a percentage of total available output, achieved in 2008 was consistent with our original expectations.

	2008	2007	% Change
Energy Sales	$267,493	$179,863	49%
Output (kWh)	3,106,410	2,091,128	49%
Capacity Factor (expected)	20.8%	20.8%	-
Capacity Factor (actual)	22.2%	19.3%*	15%

* Assumes 12 month period, actual wind capacity factor: 22.5% over 9 months.