David, Please review...give me a shout when you have had a chance to review.  
- Mike
---------------------- Forwarded by Mike Curry/HOU/ECT on 01/10/2001 02:40 PM 
---------------------------


Michael Payne@ENRON_DEVELOPMENT
01/10/2001 02:18 PM
To: Mike Curry@ECT, Edith Cross@ECT
cc: Bob Gates@ENRON, Michael Miller@enron, John Lamb@ENRON 
Subject: IM2 PPA

Mike,

By now Dave Delainey's office should have received by fax signed copies of 
the PPA and GPSA.  I am attaching a redline version of both documents for 
your review as well.   



I am also attaching a copy of the most recent Garrad Hassan letter describing 
their view on the project at this time.  

Concerning your question about the timing of the energy production, as we 
discussed  the GH analysis is focused on the factors which decrease the 
energy production of the project.  They have not questioned the accuracy of 
our hourly data collection, or when the wind blows.  As you can imagine, 
determining when the wind is blowing is the science and definable part of 
this work.  The art and interpretation lies in forecasting the factors which 
decrease the energy.  As a result, there have been no changes in the on-peak 
off-peak ratio.  In other words, the production curve should be identical 
other than the downward shift.  Please don't hesitate to call me if you would 
like to discuss this further.



I will be in CA and reachable at 661-823-6855, or by cell until 11:00AM PST 
Thursday, returning to the Houston office Friday morning.  Please also feel 
free to contact Bob Gates at 661-823-6730 should I be unavailable.

Thank you,
Michael