FOR IMMEDIATE RELEASE: February 23, 2005

Catamount Energy Announces the Completion of Sweetwater 2

RUTLAND, VT – Catamount Energy Corp. today announced that its second U.S. wind project has been completed and attained full commercial operations in February. Sweetwater 2, located in Nolan County, Texas, is a 91.5-megawatt project using 61 GE Wind turbines.

Catamount is an equity investor in the project. DKRW Energy LLC of Houston was the project developer. Babcock & Brown acted as the financial advisor for the project and is also an equity investor in the project. Babcock & Brown and Catamount supported and funded the development and construction of the project.

"The completion of this project gives Catamount part ownership in a total of 129 MW of operating wind projects in the U.S. We expect significant growth in that total in 2005," said Catamount CEO James Moore. "Our UK development pipeline is expected to produce the first completed projects in the 2006/2007 time frame. We are very pleased with the progress being made in growing Catamount’s wind energy business."

Catamount, the non-regulated subsidiary of CVPS (NYSE: CV), has been in the business of providing clean, cost-competitive electricity in the U.S. and Europe for over 15 years. Catamount is a developer, owner, and operator of wind energy projects.

More information on Catamount Energy Corporation is available on the Internet at www.catenergy.com.

CONTACT:

Marie Smith
Catamount Energy Corporation
Phone: 802-772-6747
Fax: 802-772-6799
ismith@catenergy.com

This press release includes statements that may constitute “forward-looking” statements, usually containing the words “believe”, “estimate”, “project”, “expect”, or similar expressions. These statements are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, future trends in wind and other projects, acceptance of the Companies products and services in the marketplace, competitive factors, dependence upon third-party vendors, and other risks. By making these forward-looking statements, the Companies undertake no obligation to update these statements for revision or changes after the date of this release.

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