BELCO CHOOSES AEG TO EVALUATE THE FEASIBILITY OF ADDING OFF-SHORE WIND POWER TO ITS SUPPLY SIDE MIX

AEG is working with the Bermuda Electric Company to assess the potential for offshore wind power as part of an integrated electric resource plan for the Island. Initial services include wind and technology assessments and overall project economic analysis.

Various recent developments in the wind power industry have prompted this investigation of wind as a renewable energy source for Bermuda and as a means for the Company to reduce emissions and minimize the electric rates charged to its customers. The wind power industry is rapidly expanding worldwide, both in terms of the size and types of equipment now available, as well as how such projects are financed, constructed and operated. The critical elements in any wind generation project are planning and evaluation, including the siting environment, wind availability, interties with the existing transmission system, applicable regulation and suitability of equipment. AEG is supporting BELCO in its assessment of these and other issues.