Founded in the year 2000, Bay Wind's partner Renewable Energy Services Ltd.(RESL) is a wind energy exploration and production company engaged in an aggressive five-year program of wind power development. It is pioneering the next-generation regional energy supply, based on the secure, sustainable supply of wind energy that Nova Scotia has available for development.

Bay Wind is associated with RESL in two ways:

• Bay Wind and RESL have signed the Scotian WindFields Joint Venture Power Development and Operating agreement in which both parties will participate in the exploration and development of wind energy in Annapolis, Digby and Yarmouth Counties.



• This operating agreement is common to each of the Scotian Wind Fields. It was adapted from the joint venture operating agreements and procedures typical of oilfield operations but has been re-configured to reflect deployment of distributed power generation sourced from renewables. This common development and operating agreement streamlines coordination during the early phases of turbine deployment and in all later operational phases. It makes projects easily scalable and promotes important economies of scale. It makes for easy asset valuation, increased aftermarket liquidity and improved marketability for assets developed pursuant to the operating agreement.