Vestas awarded contract for 175 wind turbines

JUNO BEACH, Fla., April 3, 2002 — FPL Energy, LLC, the independent power production subsidiary of FPL Group Inc., has announced an agreement with Vestas Wind Systems A/S of Denmark for delivery of approximately 175 wind turbines and an option for an additional 650 turbines.

Delivery of the 660-kilowatt turbines will begin in 2002 and will support the planned expansion of wind-driven electricity generation projects underway at FPL Energy.

“Wind projects will be a major element of our expansion activity in 2002 and 2003,” said Ron Green, president of FPL Energy. “We expect to add 1,000 to 2,000 megawatts of wind power to our portfolio by the end of next year.”

FPL Energy is the largest generator of electricity from wind turbines in the United States. It currently owns and operates wind farms in eight states with more than 1,400 megawatts of capacity.

“As the U.S. developer of wind power, it is important for FPL Energy to secure a reliable source of wind turbines for use in projects we are developing today and into the future,” said Green.

Approximately 80 percent of FPL Energy’s electric generation is fueled by renewable sources or clean-burning natural gas. Wind power represents nearly 28 percent of the company’s 5,063-megawatt portfolio.

Last month, Congress extended the production tax credit for operating wind projects. Projects that become operational by the end of 2003 will receive a 1.7-cent per kilowatt-hour tax credit, adjusted for inflation, for a ten-year period.

“We continued our wind project development activities during the first part of this year, and the extension of the production tax credit in March gave us the green light to quickly advance these important projects to construction.

“Wind power is an important component of our nation’s move toward energy independence as we harness our natural resources for production of electricity. It is a clean, renewable source of energy that can be sited, built and in operation much more rapidly than conventional fossil fuel facilities,” Green said.

“Typically, wind farms can be constructed in six to nine months, and they are profitable from the first day of operation,” said Green. Last year, FPL Energy built nearly 850 megawatts of wind-powered generating facilities, approximately half of what was built in the United States.

“A large percentage of our current wind facilities are equipped with Vestas turbines,” said Green. “We are pleased to move forward with such a reliable supplier for our future expansion.”

FPL Energy has 24 wind farms in Iowa, Kansas, Texas, Minnesota, Wisconsin, Washington, Oregon and California. The company is a independent producer of clean energy from natural gas, wind, solar and hydroelectric. Its portfolio includes 73 facilities in operation, under construction, or in advanced stages of development in 17 states.

FPL Group, with annual revenues of more than $8 billion, has a growing presence in more than 17 states. Its principal subsidiary, Florida Power & Light Company, serves approximately 4 million customer accounts in Florida. FPL Energy, LLC, an FPL Group energy-generating subsidiary, is a leader in producing electricity from clean and renewable fuels.

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