Bonheur ASA - Fred. Olsen Renewables - Power Purchase AgreementCrystal Rig II

Fred. Olsen Renewables AS, which is owned 50% each by Bonheur ASA and Ganger Rolf ASA, has through its wholly owned subsidiary Crystal Rig II Ltd., UK, entered into a 7 years Power Purchase Agreement with EDF Energy Plc for the sale of electricity from the Crystal Rig II wind farm project in Scotland. The contract is based on the UK market price of electricity and associated "green" benefits. Crystal Rig II Ltd. intends, to construct and operate a wind farm in the Lammermuir Hills, southeast of Edinburgh, Scotland. The wind farm is designed to have a generation capacity of approximately 117 MW, comprising 51 Siemens 2300kW wind turbines. Crystal Rig II is scheduled to be commissioned by mid of 2010. Oslo, 14 December 2007