Greta’s Grand ValleyWind FarmContributing to Ontario’s Energy Future

March, 2012

Greta Energy Inc

Ontario’s Electricity Market at a Glance

• Green Energy and Green Economy Act (GEA) includes • streamlined approval

process for wind projects • Guaranteed Feed-in

Tarrif (FIT) of $135/MWh

• Clear legislation and responsive government eliminate bureaucratic roadblocks vis-à-vis other markets

SOURCE: IESO

World-class legislative environment for wind

power

Anticipated growth in wind energy supply

Large & integrated electric system

• While wind accounted for only 1.9% of total electric output in 2010, the Independent Electricity System Operator anticipates the GEA will accelerate the expansion of wind energy by thousands of megawatts

• Over 500 MW of additional installed capacity under development

• Ontario is Canada’s largest producer and consumer of electricity with over 38 GW of installed capacity

• Large peak consumer demand and integration with hydro supply favor additional wind production

1 2 3

Proposed Wind Farm• 19.8 MW Installed capacity in Phase I

and II (Up to 40 MW in Phase III)

• 10 km north of the town of Grand Valley and 21 km northwest of the town of Orangeville

• Relatively simple terrain with gentle slopes and elevation ranging between 470-490m

Grand Valley Project Overview

Phase 1 Phase 3

Capacity

Turbine Selection

19.8 MW Up to 40 MW

Siemens SWT-2.3-101 2.3 MW

Next stepsNew land acquisition (signing option to

lease agreements)

Anticipated Commercial Operation Date: April 5, 2012

Project Status Overview

Project Requirement Status

Wind assessment ✓ Completed by Garrad Hassan

Noise assessment ✓ Complete and approved by government

Turbine layout ✓ Complete and approved by government

Turbine selection ✓ Siemens SWT-2.3-101

Private Land Leases ✓ Acquired

Environmental Impact Assessment ✓ Completed by Environment Business Consultants Inc.

Architectural and engineering drawings ✓ Complete

Building permit ✓ Acquired

Insurance ✓ Acquired

50 MW Grid Connection ✓ Complete

Financing procured ✓ Acquired and guaranteed

Engineering and construction Expected 2012 completion

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Project Status Details

• Option to Lease agreements are fully executed with nine landowners for Phase 1&2• Phase 3 is in the land acquisition stage.

• Phases 1&2 of the project have obtained Connection Impact Assessment (CIA) approvals for Vestas V90 turbines

• CIA revisions currently being obtained for Siemens SWT-2.3-101 turbines• Phase 1 has entered into a Connection Cost Agreement with Hydro One Networks Inc,

the Local Distribution Company; Phase 2 will also shortly

• Two met towers in close proximity to proposed turbine locations collected wind data from 2005-2008.

• All significant environmental approvals and milestones completed for Phase I and II• It is anticipated that a significant amount of the environmental studies completed for

Phase 1&2 can be applied towards obtaining a Renewable Energy Approval (REA) for Phase 3

• Garrad Hassan was contracted to create the optimal turbine layout, taking into account noise setbacks and other constraints

Land Control

Wind Measurement

Grid Connection

Environmental Approvals

Turbine Layout