61.5 MW WHITEWATER PROJECT Developer and Client Cannon Power Corporation, Rancho Santa Fe, CA. ("Cannon") Project Owner Shell Wind Energy, Inc. On Aug. 9, 2001, Padoma and Cannon entered into an Equity Placement Agreement that commissioned Padoma to procure equity for the project. After addressing innumerable development and technical integration deficiencies, the construction financing for the project closed on July 19, 2002. Upon completion in August 2002, ownership was transferred to Shell Wind Energy, Inc. in accordance with the terms and conditions of the Acquisition Agreement signed on July 19, 2002.
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