NERSA PUBLIC HEARINGS Cape Town 9 · NERSA PUBLIC HEARINGS Cape Town 9th September 2015 Roggeveld(Wind ... (Contractor(Key(Suppliers(and ... Dubai Building"Energy"Gulf ...

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ROGGEVELD WIND FACILITY

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NERSA PUBLIC HEARINGS Cape Town 9th September 2015

Roggeveld(Wind(Power((Pty)Ltd((

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•  BUILDING"ENERGY"AT"A"GLANCE""•  OVERVIEW"

–  INTRODUCTION"–  LOCATION"MAP"

–  AREA"MAP"

–  PROJECT"LAYOUT"–  CONNECTION""SOLUTION"–  TECHNICAL"–  FINANCIAL"INFORMATION""

•  PROJECT"ORGANISATION"–  PROJECT"STRUCTURE"–  SHAREHOLDERS"

•  ECONOMIC"DEVELOPMENT"

Agenda

Roggeveld(Wind(Power((Pty)Ltd((

3(www.buildngenergy.it"

BUILDING ENERGY

Roggeveld(Wind(Power((Pty)Ltd((

4(www.buildngenergy.it"Roggeveld(Wind(Power((Pty)Ltd((

Building Energy at a glance

BE"has"submiJed"9"(nine)"compliant"projects"in"four"rounds"under"the"REIPPP"winning"4"(Kathu"81MWp"Solar"Farm,"Mkuze"16,5"MWe"Biomass,"Roggeveld"140MW"Wind"Farm"and"

4,7MW"Kruisvallei"Hydro"project)"(

200(+(MW(solar(PV(directly(or(indirectly(deployed(

9(MWp(solar(projects(ownership(in(operaBons(in(Italy(

81(MWp(solar(projec(up(and(running(in(Kathu((South(Africa)"

15(MWp((solar(rooLop(project(installed((

10(MWp(solar(project(at(Financial(Close(in(Tororo((Uganda)(

16(Mwe(biomass(power(plant(at(Financial(Close(in(Mkuze((South(Africa)(

800(MW((PV,(wind,(biomass,(hydro)(pipeline(in(key(markets((Africa,(US,(Japan,(Europe)(

•  Awarded"the"“2012(EMEA(Best+Sustainability+Deal,(Project+Finance+Awards”+and"the"Best"Company"for"Leadership"in"Clean"Energy"

•  Diversified"geographical"presence"in"4"con`nents"with"direct"offices"and"JV"with"key"players"in"the"market:"

•  Italy"c"Milan"•  South"Africa"–"Cape"Town""•  USA"–"Washington""""""""""""""""""•  Japan"–"Tokyo"•  United"Arab"Emirates"–"Dubai"•  Panama"City"c"Panama"

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ROGGEVELD WIND FACILITY PROJECT OVERVIEW

Roggeveld(Wind(Power((Pty)Ltd((

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Introduction •  Roggeveld"Wind"Power"(Pty)Ltd"has"been"awarded"Preferred"Bidder"status"in"Round"

4"of"the"DoE"REIPPPP"

•  The"Roggeveld"wind"farm"is"a"project"which"is"wholly"owned"by"Roggeveld"Wind"

Power"(Pty)Ltd"

•  Located"North"of"the"town"of"Matjiesfontein"

–  approximately"50"kilometres"southcsouthwest"of"Sutherland"in"the"Northern"Cape"province"and"45"kilometres"northwest"of"Laingsburg"in"the"Western"

Cape"province"

•  The"Project"has"a"total"Contracted"Capacity"of"140MW."

•  Connected"to"a"400kV"Transmission"network"–  At"Komsberg"Eskom"Substa`on"

•  Total"Project"Value"ZAR"3.420.000.000"•  Construc̀ on"Start""March"2016"

•  Commercial"Opera`on"Date"September"2018."

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Locality Map

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Area Map

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Layout Map

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Connection Solution

• Bon"Esperange"–"Komsberg"

•  132KV"OHL"

•  6,5Km"

•  Fully"authorized"(into"wind"farm"EA)"

•  Delivery"point,"Komsberg"Eskom"SS"

•  CEL"from"Eskom"received"August"2014"

•  New"400KV"subcsta`on"

•  New"132/400KV"500MVA"transformer"

•  Connec`on"`meline"30"months"(within"project"COD"schedule)"

•  Selfcbuild"Op`on"

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Technical

• "147"MW"nameplate"

•  49"Turbines"

•  AWP"3.000MW"

•  Hub"Height"92,5m"

•  Concrete"towers"

•  3"Blade,"Double"Fed"Induction"Generator"(DFIG),"12kV"

•  Hydraulic"Pitch"control"

•  GL"Certified,"Grid"Code"Compliant"

•  Plant"availability"97%"

•  Exp."Yearly"Output"610GWh"

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Financial Information

Expected(Financial(Close( March&2015!

ConstrucBon(Period" 34&months!

Total(Project(Cost! ZAR&3,420,000,000!

CAPEX" ZAR&2,200,000,000!

GEARING! 75%&Debt&–&25%&Equity!

Nominal(Project(IRR((unlevered)! 12,97%!

O&M(Costs( ZAR!38,000,000!

Plant(Availability( 97%!

Exp.(Yearly(Output( 610!GWhe!

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ROGGEVELD WIND FACILITY PROJECT ORGANISATION

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Project Structure DIAGRAMME(OF(PROJECT(STRUCUTRE(AS(PER(QUIALIFICATION(CRITERIA(PART(B.2.1

11,08%

100,00% 100,00% 100,00%

51,00% 23,25% 23,25% 2,50%

Bidder(Advisors

Legal.|.Bowman.GilfillanInsurance.I.Marsh./.C&GFinancial.Adviser.|.EaglestoneBid.Management.|.Building.EnergyTechnical.|.3E,.Kentec

80,0% 20,0% 80,0% 20,0%

EPC(Contractor(Key(Suppliers(and(subcontractorsBlades.|.Acciona.Blades.S.A.Tower.|.Gestamp.Renewable.Industries.South.Africa.(Pty).Ltd.or.DCD.(Pty).LtdTurbine.|.Acciona.Windpower.S.A.

International.EntityBEE.ownership

BUILDING(ENERGY(SPA(((((((((((((((((((((((((((((((((((((((((((((((((.Guarantor......

COMBIGAS(((((((((((((((((((((((((((((((((((((((((((((((Guarantor

BUILDING(ENERGY(SPA(((((((((((((((((((((((((((((((((((((((((((((((((.Guarantor......

H1(HOLDINGS((PTY)(LTD(((((((((((((((((((((((((Guarantor

GOVERNMENT(EMPLOYEES(PENSION(FUND(((((((((((((((((((((((((((((((........................

Guarantor

BUILDING(ENERGY((((((((((((((((((((((((((((((DEVELOPMENT(AFRICA(3(SRL(((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((

Lead.Member((((((((((((((((((((((((((((((((

H1(CAPITAL((PTY)(LTD(((((((((((((((((((((((((Member

GOVERNMENT(EMPLOYEES(PENSION(FUND(Renewable(Energy(Investments(1(((((((((((((((((((((((((((((((((((((((((((((((((((((((((((........................

Member

ROGGEVELD(COMMUNITY(TRUST(((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((Member

RMB(((((((((((((((((((((((((((((((((((((((((((((((((((((((((Lender

ROGGEVELD(WIND(POWER((PTY)(LTD(((((((((((((((((((((((((((((((((((((((((((((((((((((((ProjectCo((Bidder)

Acciona(Windpower(South(Africa((Pty)(Ltd(EPC.Contractor

Acciona(Windpower(South(Africa((Pty)(Ltd(O&M .Contractor

Acciona(Windpower(International(SA Ntinga(Education(and(Development(Trust Acciona(Windpower(International(SA Ntinga(Education(and(Development(Trust

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Shareholders (1)

•  The"key"shareholders"of"the"Project"Company"(SPV)"are:"

•  Building"Energy"Development"Africa"3"srl""(51%)"

•  GEPF"(Africa)"Pty"Ltd"(PIC)"(23,25%)"

•  H1""Capital"(Pty)Ltd""(23,25%)"

•  Local"community"trust"

•  The"sponsors/shareholders"collectively"demonstrate"an"extensive"experience"in"

renewables"and"its"technologies,"an"in"depth"understanding"of"the"South"African"

infrastructure"development"&"construction"market,"whilst"ensuring"that"broad"

based"black"economic"and"social"development"remains"an"important"mandate"of"

the"Project"

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Member! Shareholding!

Building(Energy(Development(Africa(3(SRL(•  Building"Energy"is"an"Italian"holding"company"that"is"primarily"engaged"in"the"renewable"energy"sector."•  Development,"EPC,"Financing"Arrangements,"O&M"and"Asset"Management.""

•  Building"Energy"is"the"sole"sponsor"of"the"81MWp"Kathu"Solar"plant""(round"1"preferred"bidder)"which"is"

to"be"fully"commissioned"in"September"2014."

51&%!

H1(Capital((Pty)(Ltd(•  H1"Capital"is"an"established"private"investment"company.""•  Provides"expansion"and"buyout"capital"to"companies.""

•  100%"Blackcowned"and"is"a"Level"3"Contributor."

23,25&%!

GEPF((Pty)(Ltd(•  Wholly"owned"by"the"Piblic"Investment"Corpora`on"(PIC).""•  The"PIC","a"registered"financial"sercice"provider,"is"wholly"owned"by"the"South"African"Government,"with"

the"Minister"of"Finance"as"shareholder"rappresenta`ve."!23,25&%!

Local(Community(Trust(•  Beneficiaries"are"all"communi`es"residing"within"a"50km"radius"of"the"project"site"

2,50%!

Total! 100,00%!

Shareholders (2)

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ROGGEVELD WIND FACILITY ECONOMIC DEVELOPMENT

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South(African(EnBty(Shareholding( 49%!

Black(South(African(Shareholding(in(SPV(" 25,75%!

Black(Ownership(of(EPC(and(O&M! 20&%&

Shareholding(by(Local(Community(Trust" 2,5%!

Local(Content! 49%&of&total&project&cost!

Weighted(BBBEE(Status! 3,61%!

Job(CreaBon((jobs/MW)( 7,6!

Black(CiBzen(Employees( 30%!

Enterprise(Development( 0,6%!

SED(ContribuBon( 1,5%!of!total!revenues!per!annum!

Economic Development

•  The" project" will" contribute" to" local"economic"development"and"job"creation"during"the"construction"and"the"twenty"year"operational"life"of"the"project."

•  The" project" will" also" invest" in" socio"economic"development"which"include"the"following:"

•  Programmes"for"women,"youth,"

people"with"disabilities"and"people"living"in"rural"areas"

•  Support"of"healthcare"and"HIV/Aids"programmes"

•  Support"for"local"education"programmes"

•  Community"training"and"skills"

development"

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ROGGEVELD WIND FACILITY

Roggeveld(Wind(Power((Pty)Ltd((

ITALY(Milano"Via"Tortona",15""Phone:"+39"02"49527730"""Milano""

SOUTH(AFRICA(Cape(Town(

Unit"103B"The"Piazza"72"de"Waterkant"Street"–"Green"Point"

+27"21"418"3940"Cape"Town"

UNITED(ARAB(EMIRATES(Dubai(

Building"Energy"Gulf"DMCC"Fortune"Tower"

2102,"Jumeirah"Lake"Towers"Phone:"+971"(0)"42766711"

Dubai"

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USA(Washington(Building"Energy"Holding"US"LLC"505"9th"Street,"Suite"800"

Phone"+1"(202)"524"5570"Washington"DC"

JAPAN(Tokio(Building"Energy"Japan"Godo"Kaisha"AIOS"Toranomon"c"MinatocKu"

1c6c12"Nishishinbashi"Phone"+81c50c5534c7149"

Tokyo"

PANAMA(Panama(City(

Edificio"SFC,"piso"28"y"30"Calle"55"con"Av."Samuel"Lewis,"

Obarrio,"Phone"+507"3041109"Panama""

SERBIA(Belgrade(Hajduk"Veljkov"venac"4,"town"+381"692"225"404"

Belgrade"

Roggeveld(Wind(Power((Pty)Ltd((