FPL Group, Inc. hereby files with the Securities and Exchange Commission, pursuant to Rule 2, its statement claiming exemption as a holding company from the provisions of the Public Utility Holding Company Act of 1935, and submits the following information:

1.

FPL Group, Inc. (FPL Group), the claimant, is a Florida corporation, organized in 1984, with its principal executive offices at 700 Universe Boulevard, Juno Beach, Florida 33408. FPL Group's business is the holding of all the outstanding capital stock of its subsidiaries. For information regarding FPL Group's subsidiaries, other than any exempt wholesale generator (EWG), as of December 31, 2004, see Appendix 1.

2.

The claimant's only subsidiary public utility company is Florida Power & Light Company (FPL), a Florida corporation, which is an electric utility. At December 31, 2004, FPL and the claimant (including EWG subsidiaries) had the following generating facilities:

FPL Facilities

Location

No. of Units

Fuel

Net Capability (mw)^(a)

    Nuclear

        St. Lucie

Hutchinson Island, FL

2

Nuclear

1,553

        Turkey Point

Florida City, FL

2

Nuclear

1,386

    Steam turbines

        Cape Canaveral

Cocoa, FL

2

Oil/Gas

801

        Cutler

Miami, FL

2

Gas

206

        Manatee

Parrish, FL

2

Oil/Gas

1,591

        Martin

Indiantown, FL

2

Oil/Gas

1,643

        Port Everglades

Port Everglades, FL

4

Oil/Gas

1,201

        Riviera

Riviera Beach, FL

2

Oil/Gas

556

        St. Johns River Power Park

Jacksonville, FL

2

Coal/Petroleum Coke

232

        Sanford

Lake Monroe, FL

1

Oil/Gas

138

        Scherer

Monroe County, GA

1

Coal

639

        Turkey Point

Florida City, FL

2

Oil/Gas

798

    Combined-cycle

        Fort Myers

Fort Myers, FL

1

Gas

1,441

        Lauderdale

Dania, FL

2

Gas/Oil

859

        Martin

Indiantown, FL

2

Gas

943

        Putnam

Palatka, FL

2

Gas/Oil

498

        Sanford

Lake Monroe, FL

2

Gas

1,889

    Simple-cycle combustion turbines

        Fort Myers

Fort Myers, FL

1

Gas/Oil

326

        Martin

Indiantown, FL

1

Gas/Oil

320

    Gas turbines/diesels

        Fort Myers

Fort Myers, FL

12

Oil

648

        Lauderdale

Dania, FL

24

Oil/Gas

840

        Port Everglades

Port Everglades, FL

12

Oil/Gas

420

        Turkey Point

Florida City, FL

5

Oil

12

    TOTAL

18,940

(a)

Represents FPL's net ownership interest in plant capacity.

(b)

Excludes Orlando Utilities Commission's and the Florida Municipal Power Agency's combined share of approximately 15% of St. Lucie Unit No. 2.

(c)

Represents FPL's 20% ownership interest in each of St. Johns River Power Park Units Nos. 1 and 2, which are jointly owned with Jacksonville Electric Authority (JEA).

(d)

Represents FPL's approximately 76% ownership of Scherer Unit No. 4, which is jointly owned with JEA.

(e)

Substantially all of FPL's properties are subject to the lien of FPL's mortgage.  FPL expects to add 1,906 mw by mid-2005, primarily as a result of the planned mid-2005 addition of the natural gas combined cycle generation at the Martin and Manatee sites.

FPL Energy Facilities

Location

No. of Units

Fuel

Net Capability (mw)^(a)

    Wind

        Cabazon

Riverside County, CA

53

Wind

40

        Cerro Gordo ^(b)

Cerro Gordo County, IA

55

Wind

41

        Delaware Mountain

Culberson County, TX

39

Wind

30

        Diablo Wind

Alameda County, CA

31

Wind

21

        Gray County

Gray County, KS

170

Wind

112

        Green Mountain

Somerset County, PA

8

Wind

10

        Green Power

Riverside County, CA

22

Wind

17

        Hancock County ^(b)

Hancock County, IA

148

Wind

98

        High Winds ^(b)

Solano County, CA

90

Wind

162

        Indian Mesa

Upton County, TX

125

Wind

83

        King Mountain

Upton County, TX

215

Wind

281

        Lake Benton II ^(b)

Pipestone County, MN

138

Wind

104

        Meyersdale

Somerset County, PA

20

Wind

30

        Mill Run

Fayette County, PA

10

Wind

15

        Montfort ^(b)

Iowa County, WI

20

Wind

30

        Mountaineer

Preston & Tucker Counties, WV

44

Wind

66

        New Mexico ^(b)

Quay & Debaca Counties, NM

136

Wind

204

        North Dakota

LaMoure County, ND

41

Wind

62

        Oklahoma / Sooner

Harper & Woodward Counties, OK

68

Wind

102

        Sky River

Kern County, CA

342

Wind

77

        Somerset Wind Power

Somerset County, PA

6

Wind

9

        South Dakota

Hyde County, SD

27

Wind

41

        Southwest Mesa ^(b)

Upton & Crockett Counties, TX

107

Wind

75

        Stateline ^(b)

Umatilla County, OR and Walla Walla
County, WA

454

Wind

300

        Vansycle

Umatilla County, OR

38

Wind

25

        Victory Garden

Kern County, CA

96

Wind

22

        Waymart

Wayne County, PA

43

Wind

65

        Windpower Partners 1994 ^(b)

Culberson County, TX

112

Wind

27

        Woodward Mountain

Upton & Pecos Counties, TX

242

Wind

160

        Wyoming

Uinta County, WY

80

Wind

144

        Investments in joint ventures

Various

3,634

305

            Total Wind

2,758

    Contracted

        Bayswater ^(b)

Far Rockaway, NY

1

Gas

54

        Calhoun ^(b)

Eastaboga, AL

4

Gas

668

        Doswell ^(b)

Ashland, VA

4

Gas/Oil

708

        Doswell - Expansion ^(b)

Ashland, VA

1

Gas/Oil

171

        Jamaica Bay ^(b)

Far Rockaway, NY

1

Oil/Gas

54

        Investments in joint ventures

Various

12

515

            Total Contracted

2,170

    Merchant

        Blythe Energy

Blythe, CA

1

Gas

507

        Forney

Forney, TX

2

Gas

1,700

        Lamar Power Partners

Paris, TX

2

Gas

1,000

        Maine

Various - ME

6

Oil

656

        Maine

Various - ME

83

Hydro

361

        Marcus Hook 50

Marcus Hook, PA

1

Gas

50

        Marcus Hook 750 ^(b)

Marcus Hook, PA

3

Gas

744

        RISEP ^(b)

Johnston, RI

1

Gas

550

        Seabrook

Seabrook, NH

1

Nuclear

1,024

            Total Merchant

6,592

    TOTAL

11,520

(a)

Represents FPL Energy, LLC's (FPL Energy) net ownership interest in plant capacity.

(b)

These consolidated generating facilities are encumbered by liens against their assets securing various financings.

(c)

Represents plants with no more than 50% ownership using wind technology.

(d)

Represents plants with no more than 50% ownership using fuels and technologies such as gas, waste-to-energy, solar, coal and petroleum coke.

(e)

Excludes 10 other energy-related partners' combined share of 38.22%.

(f)

Excludes Massachusetts Municipal Wholesale Electric Company's, Taunton Municipal Lighting Plant's and Hudson Light & Power Department's combined share of 11.77%.

Nominal
Voltage

Overhead Lines
Pole Miles

Trench and Submarine
Cables Miles

500

kv

1,104

-

230

kv

2,395

25

138

kv

1,454

49

115

kv

668

-

69

kv

164

14

Less than 69 kv

41,144

24,166

Total

46,929

24,254

(a)  Includes approximately 75 miles owned jointly with JEA.

State

kwh
Sold

Revenue
$

kwh
Purchased

Purchased
$

Georgia

1,191,432,000

$

49,457,393

819,664,262

$

163,050,787

Total electric energy sold at wholesale or purchased outside the State of Florida or at the State line

1,191,432,000

49,457,393

819,664,262

$

163,050,787

Florida

103,635,499,297

8,536,653,919

Total electric energy sold (at retail or wholesale)

104,826,931,297

$

8,586,111,312

State

MMBtu's
Sold

Revenue
$

MMBtu's
Purchased

Purchased
$

Alabama

86,683

$

503,977

103,120,006

$

634,061,919

Louisiana

7,410,118

46,199,199

148,624,531

890,981,167

Mississippi

49,943

292,908

48,803,485

275,752,093

Texas

-

-

34,282,126

207,273,297

Total gas sold at wholesale or purchased outside the State of Florida

7,546,744

46,996,084

334,830,148

$

2,008,068,476

Florida

2,599,592

16,560,225

Total gas sold at wholesale

10,146,336

$

63,556,309

4.

FPL Group has the following interests in EWG's:

(1)  Backbone Mountain Windpower LLC (Backbone, A/K/A Mountaineer) is located in Preston and Tucker Counties, West Virginia. The business address of Backbone is c/o FPL Energy, LLC, Attn: Business Manager, 700 Universe Blvd., Juno Beach, FL 33408. The facility is a 66 megawatt wind plant which sells 100% of its power to Exelon Generation Corporation. At December 31, 2004, Backbone Windpower Holdings, LLC owned 100% of Backbone, an EWG. ESI Energy, LLC (ESI Energy) is the parent of the entity that has an interest in Backbone. ESI Energy is a wholly-owned subsidiary of FPL Energy, LLC (FPL Energy) which is wholly-owned by FPL Group Capital Inc (FPL Group Capital), a wholly-owned subsidiary of FPL Group. Equity capital invested by system companies totaled $66,763,291 at December 31, 2004.

Capitalization and earnings during the reporting period were:

Total equity

$

69,991,550

Total debt obligations

$

0

Net income

$

1,888,316

FPL Group's equity in net income

$

1,888,316

(2)  Badger Windpower, LLC (Badger, A/K/A Montfort) is located in Iowa County, Wisconsin. The business address of Badger is c/o FPL Energy, LLC, Attn: Business Manager, 700 Universe Blvd., Juno Beach, FL 33408. The facility is a 30 megawatt wind plant which sells 85% of its power to Wisconsin Electric-Wisconsin Gas, a subsidiary of Wisconsin Energy Corporation, and 15% of its power to Alliant Energy-Wisconsin Power and Light. At December 31, 2004, FPL Energy American Wind, LLC owned 100% of Badger, an EWG. FPL Energy American Wind, LLC is a wholly-owned subsidiary of FPL Energy American Wind Holdings, LLC. FPL Energy American Wind Holdings, LLC is a wholly-owned subsidiary of FPL Energy Wind Financing, LLC, which is wholly-owned by FPL Energy Wind Funding, LLC, which is wholly-owned by FPL Energy Wind Funding Holdings, LLC, a wholly-owned subsidiary of ESI Energy. ESI Energy is a wholly-owned subsidiary of FPL Energy which is wholly-owned by FPL Group Capital, a wholly-owned subsidiary of FPL Group. The project assets serve as collateral for the debt held at FPL Energy Wind Funding, LLC and FPL Energy American Wind, LLC. FPL Group Capital guarantees certain obligations with respect to debt and otherwise, including PTC (Production Tax Credits) and indemnity obligations. Under a separate agreement between FPL Group and FPL Group Capital, FPL Group has guaranteed the payment obligations of FPL Group Capital under certain of its "Debt," which is defined so as to include the FPL Group Capital guarantees. Fees paid to affiliated companies for operations, management and administrative services totaled $103,805 in 2004. Equity capital invested by system companies totaled $18,817,293 at December 31, 2004.

Capitalization and earnings during the reporting period were:

Total equity

$

26,330,928

Total debt obligations

$

0

Net income

$

2,242,800

FPL Group's equity in net income

$

2,242,800

(3)  Bayswater Peaking Facility, LLC (Bayswater) is located in Far Rockaway, New York. The business address of Bayswater is 1425 Bay 24^th Street, Far Rockaway, NY 11691. The facility is a 54 megawatt oil- and gas-fired simple cycle plant which sells 100% of its power to Long Island Power Authority (LIPA) under an exclusive power tolling arrangement with LIPA. At December 31, 2004, FPL Energy Rockaway Peaking Facilities, LLC owned 100% of Bayswater, an EWG. FPL Energy New York, LLC owned 100% of FPL Energy Rockaway Peaking Facilities, LLC. ESI Energy is the parent of the entity that has an interest in Bayswater. ESI Energy is a wholly-owned subsidiary of FPL Energy which is wholly-owned by FPL Group Capital, a wholly-owned subsidiary of FPL Group. The project assets serve as collateral for the debt held at FPL Energy Rockaway Peaking Facilities, LLC. Fees paid to affiliated companies for operations, management and administrative services totaled $493,118 in 2004. Equity capital returned to system companies in excess of equity capital invested by system companies totaled $14,292,202 at December 31, 2004.

Capitalization and earnings during the reporting period were:

Total equity

$

2,110,667

Total debt obligations

$

52,788,793

Net income

$

4,753,203

FPL Group's equity in net income

$

4,753,203

(4)  Blythe Energy, LLC (Blythe) is located in Blythe, California. The business address of Blythe is 15560 W. Hobsonway, Blythe, CA 92225. Blythe is a 507 megawatt natural gas-fired combined cycle merchant plant. At December 31, 2004, FPL Energy Blythe, LLC owned 100% of Blythe, an EWG. FPL Energy Blythe, LLC is wholly-owned by Blythe Energy Acquisitions, LLC. ESI Energy is the parent of the entity that has an interest in Blythe. ESI Energy is a wholly-owned subsidiary of FPL Energy which is wholly-owned by FPL Group Capital, a wholly-owned subsidiary of FPL Group. FPL Group Capital has guaranteed certain payment obligations of the EWG. Equity invested by system companies totaled $195,368,063 at December 31, 2004.

Capitalization and earnings during the reporting period were:

Total equity

$

136,943,479

Total debt obligations (intercompany)

$

268,295,000

Net loss

$

(45,618,835

)

FPL Group's equity in net loss

$

(45,618,835

)

(5)  Calhoun Power Company I, LLC (Calhoun) is located in Eastaboga, Alabama. The business address of Calhoun is 720 Green Valley Drive, Eastaboga, AL 36260. The facility is a 668 megawatt natural gas-fired simple-cycle facility which sells its power to Alabama Power Company. At December 31, 2004, FPL Energy Construction Funding LLC owned 100% of Calhoun, an EWG. FPL Energy Construction Funding, LLC is wholly-owned by FPL Energy Construction Funding Holdings LLC which is wholly-owned by ESI Energy. ESI Energy is a wholly-owned subsidiary of FPL Energy which is wholly-owned by FPL Group Capital, a wholly-owned subsidiary of FPL Group. The project assets serve as collateral for the debt held at FPL Energy Construction Funding, LLC (Construction Funding). Under a separate agreement between FPL Group and FPL Group Capital, FPL Group has guaranteed the payment obligations of FPL Group Capital under certain of its "Debt," which is defined so as to include the FPL Group Capital guarantees. FPL Group Capital has guaranteed certain payment obligations of the EWG. Fees paid to affiliated companies for operations, management and administrative services totaled $860,000 in 2004. Equity capital invested by system companies totaled $136,234,782 at December 31, 2004.

Capitalization and earnings during the reporting period were:

Total equity

$

154,950,246

Total debt obligations

$

104,225,000

Net income

$

14,109,223

FPL Group's equity in net income

$

14,109,223

(6)  Delaware Mountain Wind Farm, LP (Delaware Mountain) is located in Culberson County, Texas. The business address of Delaware Mountain is c/o FPL Energy, LLC, Attn: Business Manager, 700 Universe Blvd., Juno Beach, FL 33408. The facility is a 30 megawatt wind plant which sells 100% of its power to the Lower Colorado River Authority. At December 31, 2004, FPL Energy Delaware Mountain GP, LLC and FPL Energy Delaware Mountain LP, LLC collectively owned 100% of Delaware Mountain, an EWG. ESI Energy is the parent of the entities that have interests in Delaware Mountain. ESI Energy is a wholly-owned subsidiary of FPL Energy which is wholly-owned by FPL Group Capital, a wholly-owned subsidiary of FPL Group. Fees paid to affiliated companies for operations, management and administrative services totaled $122,400 in 2004. Equity capital invested by system companies totaled $19,656,002 at December 31, 2004.

Capitalization and earnings during the reporting period were:

Total equity

$

17,560,465

Total debt obligations

$

0

Net loss

$

(843,160

)

FPL Group's equity in net loss

$

(843,160

)

(7)  Diablo Winds, LLC (Diablo) is located in Alameda County, California. The business address of Diablo is c/o FPL Energy, LLC, Attn: Business Manager, 700 Universe Blvd., Juno Beach, FL 33408. The facility is a 21 megawatt wind plant which sells 100% of its power to Pacific Gas & Electric. At December 31, 2004, ESI Energy owned 100% of Diablo, an EWG. ESI Energy is a wholly-owned subsidiary of FPL Energy which is wholly-owned by FPL Group Capital, a wholly-owned subsidiary of FPL Group. Equity capital invested by system companies totaled $16,494,527 at December 31, 2004.

Capitalization and earnings during the reporting period were:

Total equity

$

16,466,494

Total debt obligations

$

0

Net loss

$

(28,033

)

FPL Group's equity in net loss

$

(28,033

)

(8)  Doswell Limited Partnership (Doswell) is located in Ashland, Virginia. The business address of Doswell is 10098 Old Ridge Road, Ashland, VA 23005. Doswell has two facilities, a 708 megawatt oil- and gas-fired combined cycle plant and a 171 megawatt oil- and gas-fired simple cycle plant, which sell 100% of their power to Virginia Electric and Power Company. At December 31, 2004, ESI LP, LLC and Doswell I, LLC collectively owned 100% of the partnership interests in Doswell, an EWG, and ESI Doswell GP, LLC owned 100% of Doswell I, LLC. ESI Energy is the parent of ESI LP, LLC and ESI Doswell GP, LLC. ESI Energy is a wholly-owned subsidiary of FPL Energy which is wholly-owned by FPL Group Capital, a wholly-owned subsidiary of FPL Group. FPL Energy had outstanding letters of credit of approximately $13.8 million at December 31, 2004 for obligations under purchase and sale of power and fuel transportation agreements. Senior secured bonds issued by an affiliate of Doswell are unconditionally guaranteed by Doswell. FPL Group Capital has provided a guarantee, in lieu of posting cash or other security, to satisfy Doswell's obligation to fund a major maintenance account and debt service reserve. The project assets serve as collateral for the debt held at FPL Energy Virginia Funding Corporation. Under a separate agreement between FPL Group and FPL Group Capital, FPL Group has guaranteed the payment obligations of FPL Group Capital under certain of its "Debt," which is defined so as to include the FPL Group Capital guarantees and letters of credit. Fees paid to affiliated companies for operations, management and administrative services totaled $1,216,022 in 2004. Equity capital returned to system companies in excess of equity capital invested by system companies totaled $182,806,784 at December 31, 2004.

Capitalization and earnings during the reporting period were:

Total equity

$

33,924,335

Total debt obligations (intercompany)

$

309,375,000

Net income

$

42,743,496

FPL Group's equity in net income

$

42,743,496

(9)  ESI Vansycle Partners, L.P. (Vansycle) is located in Umatilla County, Oregon. The business address of Vansycle is c/o FPL Energy, LLC, Attn: Business Manager, 700 Universe Blvd., Juno Beach, FL 33408. The facility is a 25 megawatt wind plant which sells 100% of its power to Portland General Electric Company. At December 31, 2004, ESI Vansycle GP, Inc. and ESI Vansycle LP, Inc. collectively owned 100% of Vansycle, an EWG. ESI Energy is the parent of the entities that have interests in Vansycle. ESI Energy is a wholly-owned subsidiary of FPL Energy which is wholly-owned by FPL Group Capital, a wholly-owned subsidiary of FPL Group. ESI Energy has guaranteed certain payment obligations of the EWG. Fees paid to affiliated companies for operations, management and administrative services totaled $105,000 in 2004. Equity capital invested by system companies totaled $11,729,017 at December 31, 2004.

Capitalization and earnings during the reporting period were:

Total equity

$

20,127,683

Total debt obligations

$

0

Net income

$

1,509,185

FPL Group's equity in net income

$

1,509,185

(10)  FPL Energy Cabazon Wind, LLC (Cabazon) is located in Riverside County, California. The business address of Cabazon is c/o FPL Energy, LLC, Attn: Business Manager, 700 Universe Blvd., Juno Beach, FL 33408. The facility is a 40 megawatt wind plant which sells 100% of its power to Southern California Edison. At December 31, 2004, ESI California Holdings, Inc. owned 100% of Cabazon, an EWG. ESI Energy is the parent of the entity that has an interest in Cabazon. ESI Energy is a wholly-owned subsidiary of FPL Energy which is wholly-owned by FPL Group Capital, a wholly-owned subsidiary of FPL Group. Fees paid to affiliated companies for operations, management and administrative services totaled $101,880 in 2004. Equity capital invested by system companies totaled $31,726,805 at December 31, 2004.

Capitalization and earnings during the reporting period were:

Total equity

$

32,749,617

Total debt obligations

$

0

Net income

$

1,047,551

FPL Group's equity in net income

$

1,047,551

(11)  FPL Energy Callahan Wind, LP (Callahan) is located in Callahan County, Texas. The business address of Callahan is c/o FPL Energy, LLC, Attn: Business Manager, 700 Universe Blvd., Juno Beach, FL 33408. The facility is under construction as of December 31, 2004 and will be a 114 megawatt wind plant. At December 31, 2004, FPL Energy Callahan Wind GP, LLC and FPL Energy Callahan Wind LP, LLC collectively owned 100% of Callahan, an EWG. ESI Energy is the parent of the entities that have interests in Callahan. ESI Energy is a wholly-owned subsidiary of FPL Energy which is wholly-owned by FPL Group Capital, a wholly-owned subsidiary of FPL Group. Fees paid to affiliated companies for operations, management and administrative services totaled $0 in 2004. Equity capital invested by system companies totaled $30,489,224 at December 31, 2004.

Capitalization and earnings during the reporting period were:

Total equity

$

26,909,440

Total debt obligations

$

0

Net loss

$

(3,579,784

)

FPL Group's equity in net loss

$

(3,579,784

)

(12)  FPL Energy Green Power Wind, LLC (Green Power) is located in Riverside County, California. The business address of Green Power is c/o FPL Energy, LLC, Attn: Business Manager, 700 Universe Blvd., Juno Beach, FL 33408. The facility is a 17 megawatt wind plant which currently sells 100% of its power to the California ISO (Independent System Operator). At December 31, 2004, ESI California Holdings, Inc. owned 100% of Green Power, an EWG. ESI Energy is the parent of the entity that has an interest in Green Power. ESI Energy is a wholly-owned subsidiary of FPL Energy which is wholly-owned by FPL Group Capital, a wholly-owned subsidiary of FPL Group. FPL Group Capital guarantees certain obligations with respect to debt and otherwise, including PTC (Production Tax Credits) and indemnity obligations. Under a separate agreement between FPL Group and FPL Group Capital, FPL Group has guaranteed the payment obligations of FPL Group Capital under certain of its "Debt," which is defined so as to include the FPL Group Capital guarantees. Fees paid to affiliated companies for operations, management and administrative services totaled $125,000 in 2004. Equity capital invested by system companies totaled $9,737,729 at December 31, 2004.

Capitalization and earnings during the reporting period were:

Total equity

$

10,043,249

Total debt obligations

$

2,930,829

Net income

$

368,091

FPL Group's equity in net income

$

368,091

(13)  FPL Energy Hancock County Wind, LLC (Hancock County) is located in Hancock County, Iowa. The business address of Hancock County is c/o FPL Energy, LLC, Attn: Business Manager, 700 Universe Blvd., Juno Beach, FL 33408. The facility is a 98 megawatt wind plant which currently sells 82.43% of its power to Interstate Power and Light Company, 6.08% to The Municipal Electric Utility of the City of Cedar Falls, Iowa and 11.49% to Corn Belt Power Cooperative. At December 31, 2004, FPL Energy American Wind, LLC owned 100% of Hancock County, an EWG. FPL Energy American Wind, LLC is a wholly-owned subsidiary of FPL Energy American Wind Holdings, LLC. FPL Energy American Wind Holdings, LLC is a wholly-owned subsidiary of FPL Energy Wind Financing, LLC, which is wholly-owned by FPL Energy Wind Funding, LLC, which is wholly-owned by FPL Energy Wind Funding Holdings, LLC, a wholly-owned subsidiary of ESI Energy. ESI Energy is a wholly-owned subsidiary of FPL Energy which is wholly-owned by FPL Group Capital, a wholly-owned subsidiary of FPL Group. The project assets serve as collateral for the debt held at FPL Energy Wind Funding, LLC and FPL Energy American Wind, LLC. FPL Group Capital guarantees certain obligations with respect to the debt and otherwise, including certain PTC and indemnity obligations. Under a separate agreement between FPL Group and FPL Group Capital, FPL Group has guaranteed the payment obligations of FPL Group Capital under certain of its "Debt," which is defined so as to include the FPL Group Capital guarantees. Fees paid to affiliated companies for operations, management and administrative services totaled $212,220 in 2004. Equity capital invested by system companies totaled $89,904,289 at December 31, 2004.

Capitalization and earnings during the reporting period were:

Total equity

$

91,391,188

Total debt obligations

$

0

Net income

$

464,610

FPL Group's equity in net income

$

464,610

(14)  FPL Energy Maine, Inc. (FPLE Maine) consists of 1,017 megawatts of hydro and fossil facilities located throughout the state of Maine. The business address of FPLE Maine is 677 Cousins Street, Yarmouth, ME 04096. Power is sold either to the ISO New England power market or to third parties via power sales contracts. At December 31, 2004, FPLE Maine owned 100% of FPL Energy Maine Hydro LLC, FPL Energy Wyman LLC, FPL Energy Mason LLC, FPL Energy Cape, LLC, FPL Energy Wyman IV LLC, FPL Energy Maine Operating Services LLC and FPL Energy Spruce Point LLC, all of which are EWGs. FPL Energy Wyman IV LLC owns 61.7831% of WF Wyman IV. FPLE Maine is 100% owned by FPL Energy which is a wholly-owned subsidiary of FPL Group Capital, a wholly-owned subsidiary of FPL Group. Fees paid to affiliated companies for operations, management and administrative services totaled $724,643 in 2004. Equity capital invested by system companies totaled $534,524,959 at December 31, 2004.

Capitalization and earnings during the reporting period were:

Total equity

$

425,286,115

Total debt obligations

$

0

Net income

$

66,756,896

FPL Group's equity in net income

$

66,756,896

(15)  FPL Energy Marcus Hook, L.P. (MH750, A/K/A Marcus Hook 750) is located in Marcus Hook, Pennsylvania. The business address of MH750 is P.O. Box 426, 100 Green Street, Marcus Hook, PA 19061. The facility is a 744 megawatt gas-fired combined cycle plant which sells 100% of its power to PJM Interconnection, L.L.C. At December 31, 2004, FPL Energy MH700, LLC and FPL Energy Marcus Hook, LLC collectively owned 100% of MH750, an EWG, and FPL Energy Marcus Hook, LLC owned 100% of FPL Energy MH700, LLC. FPL Energy Construction Funding, LLC is the parent of entities that have an interest in MH750. FPL Energy Construction Funding, LLC is wholly-owned by FPL Energy Construction Funding Holdings LLC which is wholly-owned by ESI Energy. ESI Energy is a wholly-owned subsidiary of FPL Energy which is wholly-owned by FPL Group Capital, a wholly-owned subsidiary of FPL Group. The project assets serve as collateral for the debt held at Construction Funding. FPL Group Capital has guaranteed the payment obligations of Construction Funding under certain of its "Debt." Under a separate agreement between FPL Group and FPL Group Capital, FPL Group has guaranteed the payment obligations of FPL Group Capital under certain of its "Debt," which is defined so as to include the FPL Group Capital guarantees. Fees paid to affiliated companies for operations, management and administrative services totaled $806,647 in 2004. Equity capital invested by system companies totaled $451,829,822 at December 31, 2004.

Capitalization and earnings during the reporting period were:

Total equity

$

364,798,010

Total debt obligations

$

239,070,000

Net loss

$

(85,077,860

)

FPL Group's equity in net loss

$

(85,077,860

)

(16)  FPL Energy MH50, L.P. (MH50, A/K/A Marcus Hook 50) is located in Marcus Hook, Pennsylvania. The business address of MH50 is P.O. Box 426, 100 Green Street, Marcus Hook, PA 19061. The facility is a 50 megawatt gas-fired simple cycle plant which sells 100% of its power to PJM Interconnection, L.L.C. At December 31, 2004, FPL Energy MH50 GP, LLC and FPL Energy MH50 LP, LLC collectively owned 100% of MH50, an EWG. ESI Energy is the parent of the entities that have interests in MH50. ESI Energy is a wholly-owned subsidiary of FPL Energy which is wholly-owned by FPL Group Capital, a wholly-owned subsidiary of FPL Group. Fees paid to affiliated companies for operations, management and administrative services totaled $134,316 in 2004. Equity capital invested by system companies totaled $10,985,041 at December 31, 2004.

Capitalization and earnings during the reporting period were:

Total equity

$

12,385,536

Total debt obligations

$

0

Net loss

$

(28,354

)

FPL Group's equity in net loss

$

(28,354

)

(17)  FPL Energy New Mexico Wind, LLC (New Mexico) is located in Quay and Debaca Counties, New Mexico. The business address of New Mexico is c/o FPL Energy, LLC, Attn: Business Manager, 700 Universe Blvd., Juno Beach, FL 33408. The facility is a 204 megawatt wind plant which sells 100% of its power to Public Service Company of New Mexico. At December 31, 2004, FPL Energy New Mexico Holdings, LLC owned 100% of New Mexico, an EWG. FPL Energy New Mexico Holdings, LLC is a wholly-owned subsidiary of FPL Energy New Mexico Wind Financing, LLC which is a wholly-owned subsidiary of FPL Energy New Mexico Wind II, LLC, which is a wholly-owned subsidiary of FPL Energy New Mexico Wind Holdings II, LLC, which is a wholly-owned subsidiary of ESI Northeast Energy LP, Inc. a wholly owned subsidiary of ESI Energy. ESI Energy is a wholly-owned subsidiary of FPL Energy which is wholly-owned by FPL Group Capital, a wholly-owned subsidiary of FPL Group. The project assets serve as collateral for the debt held at FPL Energy Wind Funding, LLC and FPL Energy American Wind, LLC. FPL Group Capital guarantees certain obligations with respect to debt and otherwise, including PTC and indemnity obligations. Under a separate agreement between FPL Group and FPL Group Capital, FPL Group has guaranteed the payment obligations of FPL Group Capital under certain of its "Debt," which is defined so as to include the FPL Group Capital guarantees. Fees paid to affiliated companies for operations, management and administration services totaled $222,853 in 2004. Equity capital invested by system companies totaled $11,184,597 at December 31, 2004.

Capitalization and earnings during the reporting period were:

Total equity

$

(3,097,349

)

Total debt obligations (intercompany)

$

382,633,470

Net loss

$

(8,297,047

)

FPL Group's equity in net loss

$

(8,297,047

)

(18)  FPL Energy North Dakota Wind, LLC (North Dakota) is located in LaMoure County, North Dakota. The business address of North Dakota is c/o FPL Energy, LLC, Attn: Business Manager, 700 Universe Blvd., Juno Beach, FL 33408. The facility is a 62 megawatt wind plant which sells 100% of its power to Basin Electric Power Cooperative and Otter Tail Power Co. At December 31, 2004, ESI Energy owned 100% of North Dakota, an EWG. ESI Energy is a wholly-owned subsidiary of FPL Energy which is wholly-owned by FPL Group Capital, a wholly-owned subsidiary of FPL Group. Fees paid to affiliated companies for operations, management and administrative services totaled $105,000 in 2004. Equity capital invested by system companies totaled $60,189,502 at December 31, 2004.

Capitalization and earnings during the reporting period were:

Total equity

$

61,079,220

Total debt obligations

$

0

Net income

$

668,167

FPL Group's equity in net income

$

668,167

(19)  FPL Energy Oklahoma Wind, LLC (Oklahoma) is located in Harper and Woodward Counties, Oklahoma. The business address of Oklahoma is c/o FPL Energy, LLC, Attn: Business Manager, 700 Universe Blvd., Juno Beach, FL 33408. The facility is a 51 megawatt wind plant which sells 100% of its power to Oklahoma Municipal Power Authority. At December 31, 2004, ESI Energy owned 100% of Oklahoma, an EWG. ESI Energy is a wholly-owned subsidiary of FPL Energy which is wholly-owned by FPL Group Capital, a wholly-owned subsidiary of FPL Group. Fees paid to affiliated companies for operations, management and administrative services totaled $122,400 in 2004. Equity capital invested by system companies totaled $52,390,096 at December 31, 2004.

Capitalization and earnings during the reporting period were:

Total equity

$

52,687,094

Total debt obligations (intercompany)

$

0

Net income

$

391,019

FPL Group's equity in net income

$

391,019

(20)  FPL Energy Pecos Wind I, LP (Pecos I) and FPL Energy Pecos Wind II, LP (Pecos II) (collectively, A/K/A Woodward Mountain) are located in Upton and Pecos Counties, Texas. The business address of Pecos I and Pecos II is c/o FPL Energy, LLC, Attn: Business Manager, 700 Universe Blvd., Juno Beach, FL 33408. Each facility is an 80 megawatt wind plant which sells 100% of its power to TXU Electric Company. At December 31, 2004, FPL Energy Pecos Wind I GP, LLC and FPL Energy Pecos Wind I LP, LLC collectively owned 100% of Pecos I, an EWG. At December 31, 2004, FPL Energy Pecos Wind II GP, LLC and FPL Energy Pecos Wind II LP, LLC collectively owned 100% of Pecos II, an EWG. ESI Energy is the parent of the entities that have an interest in Pecos I and Pecos II. ESI Energy is a wholly-owned subsidiary of FPL Energy which is wholly-owned by FPL Group Capital, a wholly-owned subsidiary of FPL Group. FPL Group Capital has issued letters of credit of $2.5 million at December 31, 2004 for obligations under purchase and sale of power agreements. Under a separate agreement between FPL Group and FPL Group Capital, FPL Group has guaranteed the payment obligations of FPL Group Capital under certain of its "Debt," which is defined so as to include the FPL Group Capital letters of credit. Fees paid to affiliated companies for operations, management and administrative services totaled $159,648 in 2004. Equity capital invested by system companies totaled $135,589,844 at December 31, 2004.

Capitalization and earnings during the reporting period were:

Total equity

$

120,863,452

Total debt obligations

$

0

Net loss

$

(4,013,313

)

FPL Group's equity in net loss

$

(4,013,313

)

(21)  FPL Energy Seabrook, LLC (Seabrook) is located in Seabrook, New Hampshire. The business address of Seabrook is 626 Lafayette Road, Seabrook, New Hampshire 03874. The facility is a 1,161 megawatt nuclear plant. At December 31, 2004, ESI Energy owned an 88.2% undivided interest in Seabrook, an EWG. ESI Energy is a wholly-owned subsidiary of FPL Energy which is wholly-owned by FPL Group Capital, a wholly-owned subsidiary of FPL Group. Fees paid to affiliated companies for operations, management and administrative services totaled $5,633,951 in 2004. Equity capital invested by system companies totaled $706,201,598 at December 31, 2004.

Capitalization and earnings during the reporting period were:

Total equity

$

915,044,642

Total debt obligations

$

0

Net income

$

148,156,355

FPL Group's equity in net income

$

148,156,355

(22)  FPL Energy Sooner Wind, LLC (Sooner) is located in Harper and Woodward Counties, Oklahoma. The business address of Sooner is c/o FPL Energy, LLC, Attn: Business Manager, 700 Universe Blvd., Juno Beach, FL 33408. The facility is a 51 megawatt wind plant which sells 100% of its power to Oklahoma Gas & Electric Co. At December 31, 2004, ESI Energy owned 100% of Sooner, an EWG. ESI Energy is a wholly-owned subsidiary of FPL Energy which is wholly-owned by FPL Group Capital, a wholly-owned subsidiary of FPL Group. Fees paid to affiliated companies for operations, management and administrative services total $122,400 in 2004. Equity capital invested by system companies totaled $42,145,564 at December 31, 2004.

Capitalization and earnings during the reporting period were:

Total equity

$

44,536,861

Total debt obligations

$

0

Net income

$

2,022,193

FPL Group's equity in net income

$

2,022,193

(23)  FPL Energy South Dakota Wind, LLC (South Dakota) is located in Hyde County, South Dakota. The business address of South Dakota is c/o FPL Energy, LLC, Attn: Business Manager, 700 Universe Blvd., Juno Beach, FL 33408. The facility is a 41 megawatt wind plant which sells 100% of its power to Basin Electric Power Cooperative. At December 31, 2004, ESI Energy owned 100% of South Dakota, an EWG. ESI Energy is a wholly-owned subsidiary of FPL Energy which is wholly-owned by FPL Group Capital, a wholly-owned subsidiary of FPL Group. Fees paid to affiliated companies for operations, management and administrative services totaled $105,000 in 2004. Equity capital invested by system companies totaled $38,431,884 at December 31, 2004.

Capitalization and earnings during the reporting period were:

Total equity

$

39,193,442

Total debt obligations

$

0

Net income

$

492,549

FPL Group's equity in net income

$

492,549

(24)  FPL Energy Upton Wind I, LP (Upton I), FPL Energy Upton Wind II, LP (Upton II), FPL Energy Upton Wind III, LP (Upton III), and FPL Energy Upton Wind IV, LP (Upton IV) (collectively, A/K/A King Mountain) are located in Upton County, Texas. The business address of Upton I, Upton II, Upton III and Upton IV is c/o FPL Energy, LLC, Attn: Business Manager, 700 Universe Blvd., Juno Beach, FL 33408. Upton I is a 79 megawatt wind plant which sells 100% of its power to Austin Energy. Upton II is a 83 megawatt wind plant which sells 100% of its power to Reliant Energy Renewables, Inc. Upton III is a 79 megawatt wind plant which sells 100% of its power to Reliant Energy Renewables, Inc. Upton IV is a 40 megawatt wind plant which sells 100% of its power to Reliant Energy Renewables, Inc. At December 31, 2004, FPL Energy Upton Wind I GP, LLC and FPL Energy Upton Wind I LP, LLC collectively owned 100% of Upton I, an EWG. At December 31, 2004, FPL Energy Upton Wind II GP, LLC and FPL Energy Upton Wind II LP, LLC collectively owned 100% of Upton II, an EWG. At December 31, 2004, FPL Energy Upton Wind III GP, LLC and FPL Energy Upton Wind III LP, LLC collectively owned 100% of Upton III, an EWG. At December 31, 2004, FPL Energy Upton Wind IV GP, LLC and FPL Energy Upton Wind IV LP, LLC collectively owned 100% of Upton IV, an EWG. ESI Energy is the parent of the entities that have interests in Upton I, Upton II, Upton III and Upton IV. ESI Energy is a wholly-owned subsidiary of FPL Energy which is wholly-owned by FPL Group Capital, a wholly-owned subsidiary of FPL Group. Fees paid to affiliated companies for operations, management and administrative services totaled $306,062 in 2004. Equity capital invested by system companies totaled $269,024,360 at December 31, 2004.

Capitalization and earnings during the reporting period were:

Total equity

$

244,977,105

Total debt obligations

$

0

Net loss

$

(8,378,854

)

FPL Group's equity in net loss

$

(8,378,854

)

(25)  FPL Energy Vansycle L.L.C. (Stateline) is located in Umatilla County, Oregon and Walla Walla County, Washington. The business address of Stateline is c/o FPL Energy, LLC, Attn: Business Manager, 700 Universe Blvd., Juno Beach, FL 33408. The facility is a 300 megawatt wind plant which sells 100% of its power to PPM Energy, Inc., formerly Pacificorp Power Marketing. At December 31, 2004, FPL Energy Stateline Holdings, L.L.C. owned 100% of Stateline, an EWG. FPL Energy Stateline Holdings, L.L.C. is a wholly-owned subsidiary of ESI Energy. ESI Energy is a wholly-owned subsidiary of FPL Energy which is wholly-owned by FPL Group Capital, a wholly-owned subsidiary of FPL Group. The project assets serve as collateral for the debt held at FPL Energy Vansycle L.L.C. FPL Energy has guaranteed certain performance obligations of the EWG. FPL Group Capital has guaranteed certain obligations of the EWG. FPL Group Capital has incurred obligations in respect of an outstanding letter of credit of approximately $2.1 million at December 31, 2004. Under a separate agreement between FPL Group and FPL Group Capital, FPL Group has guaranteed the payment obligations of FPL Group Capital under certain of its "Debt," which is defined so as to include the obligations of FPL Group Capital in respect of such letters of credit. Fees paid to affiliated companies for operations, management and administrative services totaled $574,875 in 2004. Equity capital invested by system companies totaled $153,471,419 at December 31, 2004.

Capitalization and earnings during the reporting period were:

Total equity

$

129,747,960

Total debt obligations

$

121,933.740

Net loss

$

(14,368,570

)

FPL Group's equity in net income

$

(14,368,570

)

(26)  FPL Energy Wyoming, LLC (Wyoming) is located in Uinta County, Wyoming. The business address of Wyoming is c/o FPL Energy, LLC, Attn: Business Manager, 700 Universe Blvd., Juno Beach, FL 33408. The facility is a 144 megawatt wind plant which sells 100% of its power to PPM Energy, Inc. At December 31, 2004, ESI Energy owned 100% of Wyoming, an EWG. ESI Energy is a wholly-owned subsidiary of FPL Energy which is wholly-owned by FPL Group Capital, a wholly-owned subsidiary of FPL Group. FPL Group Capital has guaranteed certain payment obligations of the EWG. Fees paid to affiliated companies for operations, management and administrative services totaled $105,000 in 2004. Equity capital invested by system companies totaled $145,773,383 at December 31, 2004.

Capitalization and earnings during the reporting period were:

Total equity

$

146,821,097

Total debt obligations

$

0

Net income

$

808,637

FPL Group's equity in net income

$

808,637

(27)  FPLE Forney, L.P. (Forney) and its wholly-owned subsidiaries MNM I, L.P. and MNM I LP, LLC are located in Forney, Texas. The business address of Forney is 13770 West US Highway 80, Forney, TX 75126. The facility is a 1,789 megawatt natural gas-fired combined-cycle facility which sells its power to a variety of third parties. At December 31, 2004, FPL Energy Forney GP, LLC and FPL Energy Forney LP, LLC collectively owned a 100% interest in the capital and a 95% interest in the profits and losses of Forney, an EWG. ESI Energy is the parent of the entities that have an interest is Forney. ESI Energy is a wholly-owned subsidiary of FPL Energy which is wholly-owned by FPL Group Capital, a wholly-owned subsidiary of FPL Group. FPL Group Capital has guaranteed certain payment obligations of the EWG. Fees paid to affiliated companies for operations, management and administrative services totaled $5,275,988 in 2004. Equity capital invested by system companies totaled $795,712,579 at December 31, 2004.

Capitalization and earnings during the reporting period were:

Total equity

$

790,759,984

Total debt obligations

$

0

Net loss

$

(2,959,696

)

FPL Group's equity in net loss

$

(2,811,711

)

(28)  Gray County Wind Energy, LLC (Gray County) is located in Gray County, Kansas. The business address of Gray County is c/o FPL Energy, LLC, Attn: Business Manager, 700 Universe Blvd., Juno Beach, FL 33408. The facility is a 112 megawatt wind plant which sells 100% of its power to Utilicorp United, Inc. At December 31, 2004, FPL Energy Gray County Wind, LLC owned 100% of Gray County, an EWG. ESI Energy is the parent of the entity that has an interest in Gray County. ESI Energy is a wholly-owned subsidiary of FPL Energy which is wholly-owned by FPL Group Capital, a wholly-owned subsidiary of FPL Group. Fees paid to affiliated companies for operations, management and administrative services totaled $191,320 in 2004. Equity capital invested by system companies totaled $81,008,553 at December 31, 2004.

Capitalization and earnings during the reporting period were:

Total equity

$

86,162,816

Total debt obligations

$

0

Net income

$

1,411,268

FPL Group's equity in net income

$

1,411,268

(29)  Hawkeye Power Partners, LLC (Hawkeye, A/K/A Cerro Gordo) is located in Cerro Gordo County, Iowa. The business address of Hawkeye is c/o FPL Energy, LLC, Attn: Business Manager, 700 Universe Blvd., Juno Beach, FL 33408. The facility is a 41 megawatt wind plant which sells 100% of its power to Interstate Power Company. At December 31, 2004, FPL Energy American Wind, LLC owned 100% of Hawkeye, an EWG. FPL Energy American Wind, LLC is a wholly-owned subsidiary of FPL Energy American Wind Holdings, LLC. FPL Energy American Wind Holdings, LLC is a wholly-owned subsidiary of FPL Energy Wind Financing, LLC, which is wholly-owned by FPL Energy Wind Funding, LLC, which is wholly-owned by FPL Energy Wind Funding Holdings, LLC, a wholly-owned subsidiary of ESI Energy. ESI Energy is a wholly-owned subsidiary of FPL Energy which is wholly-owned by FPL Group Capital, a wholly-owned subsidiary of FPL Group. The project assets serve as collateral for the debt held at FPL Energy Wind Funding, LLC and FPL Energy American Wind, LLC. FPL Group Capital guarantees certain obligations with respect to debt and otherwise, including PTC and indemnity obligations. Under a separate agreement between FPL Group and FPL Group Capital, FPL Group has guaranteed the payment obligations of FPL Group Capital under certain of its "Debt," which is defined so as to include the FPL Group Capital guarantees. Fees paid to affiliated companies for operations, management and administrative services totaled $199,327 in 2004. Equity capital invested by system companies totaled $25,416,170 at December 31, 2004.

Capitalization and earnings during the reporting period were:

Total equity

$

32,409,837

Total debt obligations

$

0

Net income

$

1,261,802

FPL Group's equity in net income

$

1,261,802

(30)  High Winds, LLC (High Winds) is located in Solano County, California. The business address of High Winds is c/o FPL Energy, LLC, Attn: Business Manager, 700 Universe Blvd., Juno Beach, FL 33408. The facility is a 162 megawatt wind plant which sells 100% of its power to PPM Energy, Inc., formerly PacifiCorp Power Marketing. At December 31, 2004, FPL Energy American Wind, LLC owns 100% of High Winds, an EWG. FPL Energy American Wind, LLC is a wholly-owned subsidiary of FPL Energy American Wind Holdings, LLC. FPL Energy American Wind Holdings, LLC is a wholly-owned subsidiary of FPL Energy Wind Financing, LLC, which is wholly-owned by FPL Energy Wind Funding, LLC, which is wholly-owned by FPL Energy Wind Funding Holdings, LLC, a wholly-owned subsidiary of ESI Energy. ESI Energy is a wholly-owned subsidiary of FPL Energy which is wholly-owned by FPL Group Capital, a wholly-owned subsidiary of FPL Group. The project assets serve as collateral for the debt held at FPL Energy Wind Funding, LLC and FPL Energy American Wind, LLC. FPL Group Capital guarantees certain obligations with respect to debt and otherwise, including PTC and indemnity obligations. Under a separate agreement between FPL Group and FPL Group Capital, FPL Group has guaranteed the payment obligations of FPL Group Capital under certain of its "Debt," which is defined so as to include the FPL Group Capital guarantees. Fees paid to affiliated companies for operations, management and administrative services totaled $188,410 in 2004. Equity capital invested by system companies totaled $168,426,898 at December 31, 2004.

Capitalization and earnings during the reporting period were:

Total equity

$

175,210,293

Total debt obligations

$

0

Net income

$

6,246,975

FPL Group's equity in net income

$

6,246,975

(31)  Indian Mesa Wind Farm, L.P. (Indian Mesa) is located in Upton County, Texas. The business address of Indian Mesa is c/o FPL Energy, LLC, Attn: Business Manager, 700 Universe Blvd., Juno Beach, FL 33408. The facility is an 83 megawatt wind plant which sells 61.82% of its power to the Lower Colorado River Authority and 38.18% of its power to TXU Electric Company. At December 31, 2004, FPL Energy Indian Mesa GP, LLC and FPL Energy Indian Mesa LP, LLC collectively owned 100% of Indian Mesa, an EWG. ESI Energy is the parent of the entities that have interests in Indian Mesa. ESI Energy is a wholly-owned subsidiary of FPL Energy which is wholly-owned by FPL Group Capital, a wholly-owned subsidiary of FPL Group. FPL Group Capital has incurred obligations in respect of an outstanding letter of credit of approximately $575,000 at December 31, 2004. Under a separate agreement between FPL Group and FPL Group Capital, FPL Group has guaranteed the payment obligations of FPL Group Capital under certain of its "Debt," which is defined so as to include the FPL Group Capital in respect of such letters of credit. Fees paid to affiliated companies for operations, management and administrative services totaled $122,400 in 2004. Equity capital invested by system companies totaled $72,372,397 at December 31, 2004.

Capitalization and earnings during the reporting period were:

Total equity

$

69,329,925

Total debt obligations

$

0

Net loss

$

(1,383,455

)

FPL Group's equity in net loss

$

(1,383,455

)

(32)  Jamaica Bay Peaking Facility, LLC (Jamaica Bay) is located in Far Rockaway, New York. The business address of Jamaica Bay is 1425 Bay 24th Street, Far Rockaway, NY 11691. The facility is a 54 megawatt oil- and gas-fired simple cycle plant which sells 100% of its power to Long Island Power Authority (LIPA) under an exclusive power tolling arrangement with LIPA. At December 31, 2004, FPL Energy Rockaway Peaking Facilities, LLC owned 100% of Jamaica Bay, an EWG. FPL Energy New York, LLC owned 100% of FPL Energy Rockaway Peaking Facilities, LLC. ESI Energy is the parent of the entity that has an interest in Jamaica Bay. ESI Energy is a wholly-owned subsidiary of FPL Energy which is wholly-owned by FPL Group Capital, a wholly-owned subsidiary of FPL Group. The project assets serve as collateral for the debt held at FPL Energy Rockaway Peaking Facilities, LLC. Fees paid to affiliate companies for operations, management and administrative services totaled $608,642 in 2004. Equity capital returned to system companies in excess of equity capital invested by system companies totaled $243,876 at December 31, 2004.

Capitalization and earnings during the reporting period were:

Total equity

$

5,130,160

Total debt obligations

$

58,201,502

Net income

$

3,199,129

FPL Group's equity in net income

$

3,199,129

(33)  Lake Benton Power Partners II, LLC (Lake Benton) is located in Pipestone County, Minnesota. The business address of Lake Benton is c/o FPL Energy, LLC, Attn: Business Manager, 700 Universe Blvd., Juno Beach, FL 33408. The facility is a 104 megawatt wind plant which sells 100% of its power to Northern States Power. At December 31, 2004, FPL Energy American Wind, LLC owned 100% of Lake Benton, an EWG. FPL Energy American Wind, LLC is a wholly-owned subsidiary of FPL Energy American Wind Holdings, LLC. FPL Energy American Wind Holdings, LLC is a wholly-owned subsidiary of FPL Energy Wind Financing, LLC, which is wholly-owned by FPL Energy Wind Funding, LLC, which is wholly-owned by FPL Energy Wind Funding Holdings, LLC, a wholly-owned subsidiary of ESI Energy. ESI Energy is a wholly-owned subsidiary of FPL Energy which is wholly-owned by FPL Group Capital, a wholly-owned subsidiary of FPL Group. The project assets serve as collateral for the debt held at FPL Energy Wind Funding, LLC and FPL Energy American Wind, LLC. FPL Group Capital guarantees certain obligations with respect to debt and otherwise, including PTC and indemnity obligations. FPL Group Capital has outstanding letters of credit of approximately $11.7 million at December 31, 2004 for obligations under purchase and sale of power agreements. Under a separate agreement between FPL Group and FPL Group Capital, FPL Group has guaranteed the payment obligations of FPL Group Capital under certain of its "Debt," which is defined so as to include the FPL Group Capital letters of credit. Fees paid to affiliated companies for operations, management and administrative services totaled $213,510 in 2004. Equity capital invested by system companies totaled $89,241,975 at December 31, 2004.

Capitalization and earnings during the reporting period were:

Total equity

$

80,506,615

Total debt obligations

$

0

Net income

$

1,280,652

FPL Group's equity in net income

$

1,280,652

(34)  Lamar Power Partners, L.P. (Lamar) and its wholly-owned subsidiaries INTEXCO I, LP and INTEXCO I LP, LLC are located in Paris, Texas. The business address of Lamar is P.O. Box 520, Paris, TX 75461. The facility is a 1,000 megawatt natural gas-fired combined-cycle facility which sells its power to a variety of third parties. At December 31, 2004, FPL Energy Paris GP, LLC and FPL Energy Paris LP, LLC collectively owned 100% of Lamar, an EWG. ESI Energy is the parent of the entities that have an interest in Lamar. ESI Energy is a wholly-owned subsidiary of FPL Energy which is wholly-owned by FPL Group Capital, a wholly-owned subsidiary of FPL Group. FPL Group Capital has outstanding letters of credit of approximately $1.0 million at December 31, 2004 for obligations under purchase and sale of power and fuel agreements and other payments subject to certain contingencies. Under a separate agreement between FPL Group and FPL Group Capital, FPL Group has guaranteed the payment obligations of FPL Group Capital under certain of its "Debt," which is defined so as to include the FPL Group Capital letters of credit. Fees paid to affiliated companies for operations, management and administration services totaled $3,340,785 in 2004. Equity capital invested by system companies totaled $259,520,399 at December 31, 2004.

Capitalization and earnings during the reporting period were:

Total equity

$

373,121,453

Total debt obligations

$

0

Net income

$

866,072

FPL Group's equity in net income

$

866,072

(35)  Meyersdale Windpower LLC (Meyersdale) is located in Somerset County, Pennsylvania. The business address of Meyersdale is c/o FPL Energy, LLC, Attn: Business Manager, 700 Universe Blvd., Juno Beach, FL 33408. The facility is a 30 megawatt wind plant which sells 100% of its power to FirstEnergy Solutions Corp. At December 31, 2004, FPL Energy Pennsylvania Wind, LLC owned 100% of Meyersdale, an EWG. ESI Energy is the parent of the entity that has an interest in Meyersdale. ESI Energy is a wholly-owned subsidiary of FPL Energy which is wholly-owned by FPL Group Capital, a wholly-owned subsidiary of FPL Group. Equity capital invested by system companies totaled $30,409,992 at December 31, 2004.

Capitalization and earnings during the reporting period were:

Total equity

$

32,239,796

Total debt obligations

$

0

Net income

$

1,645,028

FPL Group's equity in net income

$

1,645,028

(36)  Mill Run Windpower LLC (Mill Run) is located in Fayette County, Pennsylvania. The business address of Mill Run is c/o FPL Energy, LLC, Attn: Business Manager, 700 Universe Blvd., Juno Beach, FL 33408. The facility is a 15 megawatt wind plant which sells 100% of its power to Exelon Generation Company. At December 31 2004, FPL Energy Pennsylvania Wind, LLC owned 100% of Mill Run, an EWG. ESI Energy is the parent of the entity that has an interest in Mill Run. ESI Energy is a wholly-owned subsidiary of FPL Energy which is wholly-owned by FPL Group Capital, a wholly-owned subsidiary of FPL Group. FPL Energy has guaranteed certain payment obligations of the EWG. Equity capital invested by system companies totaled $12,696,230 at December 31, 2004.

Capitalization and earnings during the reporting period were:

Total equity

$

13,397,981

Total debt obligations

$

0

Net income

$

214,568

FPL Group's equity in net income

$

214,568

(37)  North Jersey Energy Associates (Sayreville) is located in Sayreville, New Jersey. The business address of Sayreville is Jernee Mill Road, PO Box 279, Sayreville, New Jersey 08872. The facility is a 290 megawatt natural gas plant which sells its power to a New Jersey utility and the market. At December 31, 2004, Northeast Energy, LP (NE LP) and Northeast Energy, LLC (NE LLC) collectively owned 100% of Sayreville, an EWG, and NE LP owned 100% of NE LLC. ESI Northeast Energy GP, Inc. and ESI Northeast Energy LP, Inc. collectively owned 50% of NE LP. ESI Energy is the parent of the entities that have an interest in Sayreville. ESI Energy is a wholly-owned subsidiary of FPL Energy which is wholly-owned by FPL Group Capital, a wholly-owned subsidiary of FPL Group. Fees paid to affiliated companies for operations, management and administrative services totaled $1,696,630 in 2004. Equity capital invested by system companies totaled $182,145,785 at December 31, 2004.

Capitalization and earnings during the reporting period were:

Total equity

$

364,291,569

Total debt obligations

$

0

Net income

$

77,351,498

FPL Group's equity in net income

$

38,675,749

(38)  Pennsylvania Windfarms, Inc. (PWF, A/K/A Green Mountain) is located in Somerset County, Pennsylvania. The business address of PWF is c/o FPL Energy, LLC, Attn: Business Manager, 700 Universe Blvd., Juno Beach, FL 33408. The facility is a 10 megawatt wind plant which sells 100% of its power to Green Mountain Energy Company. At December 31, 2004, FPL Energy Pennsylvania Wind, LLC owned 100% of PWF, an EWG. ESI Energy is the parent of the entity that has an interest in PWF. ESI Energy is a wholly-owned subsidiary of FPL Energy which is wholly-owned by FPL Group Capital, a wholly-owned subsidiary of FPL Group. Equity capital returned to system companies in excess of equity capital invested by system companies totaled $655,309 at December 31, 2004.

Capitalization and earnings during the reporting period were:

Total equity

$

2,004,803

Total debt obligations

$

0

Net income

$

928,486

FPL Group's equity in net income

$

928,486

(39)  Rhode Island State Energy L.P. (RISE) is located in Johnston, Rhode Island. The business address of RISE is 24 Shun Pike, Johnston, RI 02919. The facility is a 550 megawatt gas-fired combined cycle plant which sells power to the ISO New England power market or to third parties via power sales contracts. At December 31, 2004, Rhode Island State Energy Statutory Trust 2000 owns 100% of RISE, an EWG, which is leased by FPLE Rhode Island State Energy, L.P. FPLE Rhode Island State Energy GP, Inc. and FPLE Rhode Island State Energy LP, LLC collectively own 100% of FPLE Rhode Island State Energy, L.P. ESI Energy is the parent of FPLE Rhode Island State Energy GP, Inc. and FPLE Rhode Island State Energy LP, LLC. ESI Energy is a wholly-owned subsidiary of FPL Energy which is wholly-owned by FPL Group Capital, a wholly-owned subsidiary of FPL Group. The project assets serve as collateral for the debt held at Rhode Island State Energy Statutory Trust 2000. FPL Group Capital guarantees certain obligations with respect to debt and otherwise of the EWG. FPL Group Capital has also guaranteed a portion of the payments due under the notes secured by the RISE facility. Under a separate agreement between FPL Group and FPL Group Capital, FPL Group has guaranteed the payment obligations of FPL Group Capital under certain of its "Debt," which is defined so as to include the FPL Group Capital guarantees and letters of credit. Fees paid to affiliated companies for operations, management and administrative services totaled $280,451 in 2004. Equity capital invested by system companies totaled $4,120,717 at December 31, 2004.

Capitalization and earnings during the reporting period were:

Total equity

$

(20,924,847

)

Total debt obligations

345,635,468

Net loss

$

(14,127,001

)

FPL Group's equity in net loss

$

(14,127,001

)

(40)  Sky River Partnership (Sky River) is located in Kern County, California. The business address of Sky River is c/o FPL Energy, LLC, Attn: Business Manager, 700 Universe Blvd., Juno Beach, FL 33408. The facility is a 77 megawatt wind plant which currently sells 100% of its power to Southern California Edison. At December 31, 2004, ESI Sky River Limited Partnership (ESI Sky) and FPL Energy Sky River Wind, LLC (FPLE Sky) collectively owned 100% of the partnership interest in Sky River, an EWG. ESI Sky and FPLE Sky were collectively owned by ESI Sky River, Inc. and ESI LP, LLC. ESI California Holdings, Inc. owned 100% of ESI Sky River, Inc. ESI California Holdings, Inc. and ESI LP, LLC are wholly-owned by ESI Energy. ESI Energy is a wholly-owned subsidiary of FPL Energy which is wholly-owned by FPL Group Capital, a wholly-owned subsidiary of FPL Group. Fees paid to affiliated companies for operations, management and administrative services totaled $338,346 in 2004. Equity capital invested by system companies totaled $34,201,162 at December 31, 2004.

Capitalization and earnings during the reporting period were:

Total equity

$

41,456,692

Total debt obligations (third party and intercompany)

$

0

Net income

$

6,921,906

FPL Group's equity in net income

$

6,921,906

(41)  Somerset Windpower LLC (Somerset) is located in Somerset County, Pennsylvania. The business address of Somerset is c/o FPL Energy, LLC, Attn: Business Manager, 700 Universe Blvd., Juno Beach, FL 33408. The facility is a 9 megawatt plant which sells 100% of its power to Exelon Generation Company. At December 31, 2004, FPL Energy Pennsylvania Wind, LLC owned 100% of Somerset, an EWG. ESI Energy is the parent of the entity that has an interest in Somerset. ESI Energy is a wholly-owned subsidiary of FPL Energy which is wholly-owned by FPL Group Capital, a wholly-owned subsidiary of FPL Group. FPL Energy has guaranteed certain payment obligations of the EWG. Equity capital invested by system companies totaled $7,228,263 at December 31, 2004.

Capitalization and earnings during the reporting period were:

Total equity

$

7,418,812

Total debt obligations

$

0

Net income

$

18,832

FPL Group's equity in net income

$

18,832

(42)  Victory Garden Phase IV Partnership (Victory Garden) is located in Kern County, California. The business address of Victory Garden is c/o FPL Energy, LLC, Attn: Business Manager, 700 Universe Blvd., Juno Beach, FL 33408. The facility is a 22 megawatt wind plant which currently sells 100% of its power to Southern California Edison. At December 31, 2004, ESI VG Limited Partnership (ESI VG) and FPL Energy VG Wind, LLC (FPLE VG) collectively owned 100% of the partnership interests in Victory Garden, an EWG. ESI VG and FPLE VG were collectively owned by ESI LP, LLC and ESI Victory, Inc., which are wholly-owned subsidiaries of ESI Energy. ESI Energy is a wholly-owned subsidiary of FPL Energy which is wholly-owned by FPL Group Capital, a wholly-owned subsidiary of FPL Group. Equity capital invested by system companies totaled $5,095,226 at December 31, 2004.

Capitalization and earnings during the reporting period were:

Total equity

$

7,324,594

Total debt obligations

$

0

Net income

$

2,122,101

FPL Group's equity in net income

$

2,122,101

(43)  Waymart Wind Farm L.P. (Waymart) is located in Wayne County, Pennsylvania. The business address of Waymart is c/o FPL Energy, LLC, Attn: Business Manager, 700 Universe Blvd., Juno Beach, FL 33408. The facility is a 65 megawatt wind plant which sells 100% of its power to Exelon Generation Company. At December 31, 2004, FPL Energy Waymart GP, LLC and FPL Energy Waymart LP, LLC collectively owned 100% of Waymart, an EWG. ESI Energy is the parent of the entities that have an interest in Waymart. ESI Energy is a wholly-owned subsidiary of FPL Energy which is wholly-owned by FPL Group Capital, a wholly-owned subsidiary of FPL Group. FPL Energy has outstanding letters of credit of approximately $3,500,000 at December 31, 2004 for obligations under a production incentive agreement and settlement agreement. Under a separate agreement between FPL Group and FPL Group Capital, FPL Group has guaranteed the payment obligations of FPL Group Capital under certain of its "Debt," which is defined so as to include the FPL Group Capital letters of credit. Fees paid to affiliated companies for operations, management and administrative services totaled $105,000 in 2004. Equity capital invested by system companies totaled $71,977,148 at December 31, 2004.

Capitalization and earnings during the reporting period were:

Total equity

$

74,898,295

Total debt obligations

$

0

Net income

$

2,578,109

FPL Group's equity in net income

$

2,578,109

(44)  West Texas Wind Energy Partners, L.P. (West Texas Wind, A/K/A Southwest Mesa) is located in Upton and Crockett Counties, Texas. The business address of West Texas Wind is c/o FPL Energy, LLC, Attn: Business Manager, 700 Universe Blvd., Juno Beach, FL 33408. The facility is a 75 megawatt wind plant which sells 100% of its power to American Electric Power. At December 31, 2004, ESI West Texas Energy, Inc. and ESI West Texas Energy LP, LLC collectively owned 100% of West Texas Wind, an EWG. FPL Energy American Wind, LLC is the parent of the entities that have an interest in West Texas Wind. FPL Energy American Wind, LLC is a wholly-owned subsidiary of FPL Energy American Wind Holdings, LLC. FPL Energy American Wind Holdings, LLC is a wholly-owned subsidiary of FPL Energy Wind Financing, LLC, which is wholly-owned by FPL Energy Wind Funding, LLC, which is wholly-owned by FPL Energy Wind Funding Holdings, LLC, a wholly-owned subsidiary of ESI Energy. ESI Energy is a wholly-owned subsidiary of FPL Energy which is wholly-owned by FPL Group Capital, a wholly-owned subsidiary of FPL Group. The project assets serve as collateral for the debt held at FPL Energy Wind Funding, LLC and FPL Energy American Wind, LLC. FPL Group Capital guarantees certain obligations with respect to debt and otherwise, including PTC and indemnity obligations. Under a separate agreement between FPL Group and FPL Group Capital, FPL Group has guaranteed the payment obligations of FPL Group Capital under certain of its "Debt," which is defined so as to include the FPL Group Capital guarantees. FPL Group Capital has guaranteed certain payment obligations of the EWG. Fees paid to affiliated companies for operations, management and administrative services totaled $300,077 in 2004. Debt Equity capital returned to system companies in excess of equity capital invested by system companies totaled $28,595,346 at December 31, 2004.

Capitalization and earnings during the reporting period were:

Total equity

$

25,517,783

Total debt obligations

$

28,869,907

Net loss

$

(4,871,206

)

FPL Group's equity in net loss

$

(4,871,206

)

(45)  Windpower Partners 1994, L.P. (WPP94) is located in Culberson County, Texas. The business address of WPP94 is c/o FPL Energy, LLC, Attn: Business Manager, 700 Universe Blvd., Juno Beach, FL 33408. The facility is a 41 megawatt wind plant which sells 100% of its power to Lower Colorado River Authority. At December 31, 2004, FPL Energy WPP94 GP, LLC (WPP94 GP), FPL Energy WPP94 LP, LLC (WPP94 LP), LQ GP, LLC (LQ) and LQC LP, LLC (LQC) collectively owned 75% of WPP94, an EWG, and WPP94 GP owned 50% of LQ and WPP94 LP owned 50% of LQC. ESI Energy is the parent of the entities that have an interest in WPP94. ESI Energy is a wholly-owned subsidiary of FPL Energy which is wholly-owned by FPL Group Capital, a wholly-owned subsidiary of FPL Group. The project assets serve as collateral for the debt held at Windpower Partners 1994, L.P. FPL Group Capital guarantees certain obligations with respect to debt and otherwise, including PTC (Production Tax Credits) and indemnity obligations. Under a separate agreement between FPL Group and FPL Group Capital, FPL Group has guaranteed the payment obligations of FPL Group Capital under certain of its "Debt," which is defined so as to include the FPL Group Capital guarantees. Equity capital invested by system companies totaled $1,627,287 at December 31, 2004.

Capitalization and earnings during the reporting period were:

Total equity

$

1,711,883

Total debt obligations

$

9,506,563

Net income

$

84,596

FPL Group's equity in net income

$

56,349

FPL Group, Inc.



K. MICHAEL DAVIS