Wind Info/Cost to Build

Guys, I will forward the info as it becomes available. There appears to be
one project in Texas and one in California which are well down the
development road. If interested in these projects, which have to meet a
December 2001 COD in order to get the tax credit, I would suggest that we
purchase the development sites and turbines from Enron Wind and keep the
asset, commodity position, tax credit and possible green credits in ENA.
They are Ok with that strategy. This is an opportuntity that needs to
fleshed out fairly quickly - Ben and Dave can you lead this analysis with
close contact with Doug and Tim on the desk. We can get together to discuss
if you like.

Regards
Delainey
---------------------- Forwarded by David W Delainey/HOU/ECT on 06/19/2000
08:48 AM ---------------------------

Michael Payne@ENRON_DEVELOPMENT
06/16/2000 07:40 PM
To: David W Delainey@ECT
cc: James L Noles/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Adam Umanoff@ENRON,
Bob Gates
Subject: Wind Info/Cost to Build

Dave,

As requested, I have collect the following information for your review. I
have sent two binders to your office for Monday morning delivery. I am also
attaching the two models which correspond to the projects referenced below.

Table of Contents
1. Selected Company Information
Including:
Business overview
Estimate wind resources by state
Discussion of industry drivers
Overview of the technology
Discussion of Project Development
2. Cost to build: Solano/SMUD California project
3. Cost to build: Sweetwater, TX project
4. Description of the Federal Production Tax Credit
5. Press Release on Northern Alternative Energy Gas-Wind Hybrid project
6. Summary of Renewable Portfolio Standards (state fuel mix mandates)
7. Summary of System Benefit Charges to be applied to renewable subsidies
8. Assorted Slides on Green Power Marketing, RPS, SBCs, etc.

Please don't hesitate to call with any questions.

Michael
6-9690