Windpower project

Survey - week of April 17, 2006

A survey carried out with 200 residents of the municipality of Cacouna reveals that 80% are favorable to the wind project on their territory. Click the picture at left to see the unloading od some blades to be used in the SkyPower project.

SkyPower Wind Energy Fund LP Enters into Definitive Purchase Agreement to Sell its Terrawinds Project Near Rivière-du-Loup, Québec to SkyPower Corp.

Source: SWEFLP

Unitholders Expected to Receive Net After-Tax Proceeds and the Benefit of Prior and Future Period Tax Savings Totaling Approximately $9.72 per Unit Meeting of Unitholders to be Held on December 28, 2007

TORONTO, Nov. 27 /CNW/ - SkyPower Wind Energy Fund LP (the "Partnership")
announced today that it has entered into a definitive purchase agreement (the "Asset
Purchase Agreement") to sell its Terrawinds wind energy project near Rivière-du-Loup, Québec and related assets to SkyPower Corp. for proceeds (net of the assumption of approximately $211 million of indebtedness and certain other liabilities of Terrawinds by SkyPower Corp.) of approximately $77.2 million in cash (the "Asset Sale").

A special committee of independent directors (the "Special Committee") of the Partnership's general partner, SkyPower I GP Inc. (the "General Partner"), carefully
reviewed and considered the terms of the Asset Purchase Agreement and the Partnership's current circumstances and alternatives with the advice and assistance of its legal and financial advisors. Credit Suisse Securities (Canada), Inc. acted as financial advisor to the General Partner and has provided an opinion to the Board of Directors of the General Partner that, as at November 26, 2007 and subject to the qualifications and limitations set out in the opinion, the consideration expected to be received by Unitholders as a result of the Asset Sale is fair, from a financial point of view, to Unitholders. A copy of that opinion will be included in the Circular to be sent to Unitholders as described below. The Special Committee has determined that the Asset Sale is in the best interests of the Partnership and its Unitholders and will recommend that Unitholders vote their Units to approve the Asset Sale and related matters. ..complete article on SWEFLP

Terrawinds Wind Energy Project in the Rivière-du-Loup municipal region - Skypower addresses the concerns of the BAPE report

RIVIERE-DU-LOUP, QC, Oct. 26 /CNW/ - Following the publication of the Bureau d'audiences publiques sur l'environnement (BAPE) report on the Terrawinds project, SkyPower Wind Energy Fund LP has ascertained that its work over the past months has allowed it to address most of the BAPE commissioners' reservations.

Keenly sensitive to points of view expressed during public hearings, SkyPower did not hesitate to make major adjustments to its project in order to meet the concerns of interveners, commissioners and elected local officials. The main advantages from these adjustments are full compliance with municipal regulations with regard to wind turbine placement and a significant reduction in potential impact on winged fauna, noise levels, agriculture and the landscape. In addition, as recommended by the BAPE, no turbine will be set up between the Saint-Lawrence and highways 20 and 132.

SkyPower notes that the local, regional and provincial economic windfall will be in the tens of millions of dollars. It adds that it has long advocated setting up a committee of elected local officials, economic players from the municipal region and representatives of the promoter. Negotiations on the creation and composition of such a committee are currently underway with the municipalities and the Rivière-du-Loup municipal region Chamber of Commerce. Fees paid to landowners and municipalities are among the most generous of all comparable projects.

SkyPower adds that the Terrawinds project enjoys firm and significantly preponderant support from communities involved. Whether conducted by the municipalities themselves or by SOM, all surveys so far show support averaging nearly 75%. Many landowners, entrepreneurs, businesses and citizens of the Rivière-du-Loup region have also expressed their support through the Comité d'Appui au développement Eolien (CADE) and the Rivière-du-Loup municipal region Chamber of Commerce.

SkyPower is proud of the work done so far and is confident that the government authorities will give their approval to this wealth-creating green project. SkyPower wishes to thank the population and their partners for their continued support.

The forward-looking information contained in this news release represents the expectations of the SkyPower Wind Energy Fund LP as at October 26, 2006 and, accordingly, is subject to change after such date. However, SkyPower Wind Energy Fund LP expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law.

Windpower: establishment and architectural integration plan related to windpower

(Translation from the original French text and is only for information purpose)

Last September 6, 2006, the Municipality adopted a regulation on the architectural integration and establishment relating to wind mills (PIIA).

- Regulation # 278.

This Regulation should soon be used widely in the MRC of Rivière-du-Loup but the Village of Cacouna is among the first municipalities to have already adopted it. In the context of being close to having wind mills on our territory, It is important for us to provide you the objectives and the criteria of application. You can consult the complete document at the municipal office.

Regulation on the architectural integration and establishment plan related to wind mills

Regulation number 278

Chapter 3 - Applicable objectives and criteria of evaluation

ARTICLE 3.1 - Objectives applicable to the establishment and the architecture of constructions or the grounds lay out

1. to preserve the general characteristics of the natural landscape or buildings of the municipality;

2. to protect the visual perspectives and the most remarkable panoramas;

3. to avoid creating a visual impact or of other nature likely to prevent full pleasure of the properties located near the wind mill;

4. to ensure that the site is returned to its natural state at the end of the exploitation of the wind mill for the production of energy;

ARTICLE 3.2 - Criteria relating to the installation of a wind mill

1. a wind mill park must avoid to affect, as much as possible, great extent of landscape so that these wind mills are visible from far;

2. a wind mill must avoid as much as possible affect a strongly frequented landscape or which is the subject of a long duration of observation;

3. a wind mill must block as little as possible the visual perspective obtained from a public highway, towards the St Lawrence river or any other site of aesthetic or historical interest, such as the sites enumerated at appendix A included in the present regulation;

4. a wind mill should not block or interfere in a remarkable panorama of collective interest or which is granted a great value by the population;

5. a wind mill park must avoid as much as possible to create by cumulative impact with the existing infrastructures (powerlines with high voltage or others), a landscape strongly charged;

6. in undulating locations, the placement of the wind mills must follow the physical lines of the territory (level lines, small peaks, etc.) while avoiding the marked limits of the landscape or the physical elements which are strongly perceived;

7. wind mills must be laid out in a research of visual coherence by privileging equidistant alignment or the simple geometrical provision, easily perceptible by the observers. The double alignment of wind mill is to be avoided for the visual confusion which it creates;

8. all wind mills of the same park must have the same characteristics;

9. the tower of the wind mill must be tubular and not out of lattice;

10. a wind mill must be of neutral color which is harmonized with the landscape;

11. a wind mill must be built of materials which facilitate its maintenance on the aesthetic level;

12. the marking of wind mills for aviation must be secure and aesthetic;

13. a wind mill must be located so as to prevent that the shade of the blades in rotation is projected on dwellings or a commercial buildings;

14. the electric wire connecting the wind mills to the principal electrical supply network must be hidden-underground;

15. complementary constructions to a wind mill (such as a connection station or transformation), when visible from a dwelling or a public highway, must be equipped with a landscape installation decreasing the visual impact;

16. an access path to a wind mill must localised and be arranged so as to decrease its visual impact;

17. the deforestation of existing forest cover must only be made to establish constructions and the works necessary to the exploitation of the wind mill; re-forestation is necessary for the parcels of ground nonnecessary to the exploitation of the wind mill after its erection;

18. landfill work must be, as much as possible, be avoided in order to preserve the level of the existing ground;

19. the promoter of the project provides the satisfactory insurance that a wind mill which does not produce any more energy for more than one year will be dismantled and that the site on which it was erected, will be reinstated to its original state;

20. wind mills must be built far enough from roads and other infrastructures to prevent that its fall does not damage them or threatens the life of the people.