power deals 2009 all deals

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No. Value of transaction (US$m) Date announced Target Name Target Nationality Target Location Acquirer name Acquirer Nationality Acquirer Location Sector Type 1 14031 20-Feb-09 Endesa SA (25.01%) Spain Europe ENEL SpA Italy Europe Electric Cross-border 2 9912 12-Jan-09 Essent NV (Excluding certain assets) Netherlands Europe RWE AG Germany Europe Electric Cross-border 3 6197 23-Feb-09 Nuon NV (49%) Netherlands Europe Vattenfall AB Sweden Europe Electric Cross-border 4 5966 15-May-09 Three Gorges Industry Co Ltd (Power generation assets of Three Gorges Project and equity of auxiliary companies); Yangtze Three Gorges Technology & Economy Development Co Ltd; Three Gorges Facilities Materials Co Ltd; Yangtze Three Gorges Hydroelectric Engineering Co Ltd; Three Gorges Hi-Tech Information Technology Co Ltd; Three Gorges International Tender Co Ltd China Asia-Pacific China Yangtze Power Co Ltd China Asia-Pacific Electric Domestic 5 4103 12-Aug-09 Thuega AG Germany Europe Stadtwerke Hannover AG; Kom9 GmbH & Co KG; N-ERGIE AG; Mainova AG Germany Europe Electric Domestic 6 3685 20-Feb-09 Endesa SA-Assets Spain Europe Acciona SA - - 7 3486 11-May-09 British Energy Group plc United Kingdom Europe Centrica plc United Kingdom Europe Electric Domestic 8 2989 29-Oct-09 New Brunswick Power Corp (Nuclear generating facility at Point Lepreau, the hydro facilities, the peaking power plants and the transmission and distribution assets) Canada North America Hydro-Quebec Canada North America Electric Domestic 9 2909 12-Feb-09 Societa Italiana per il Gas SpA - ITALGAS (49.97%); Stoccaggi Gas Italia SpA - STOGIT Italy Europe Snam Rete Gas SpA Italy Europe Gas Domestic 10 1988 08-Jun-09 EON AG Germany Europe VERBUND Innkraftwerke GmbH - - 11 1847 11-May-09 SPE SA (51%) Belgium Europe Electricite de France SA - EDF France Europe Electric Cross-border 12 1675 10-Aug-09 Power Station (Five peaking and three combined-cycle generation assets) United States North America LS Power Group United States North America Electric Domestic 13 1645 18-Sep-09 Hubei Energy Group Co Ltd China Asia-Pacific Hubei Triring Co Ltd China Asia-Pacific Electric Domestic 14 1592 24-Apr-09 Terna Participacoes SA (65.86%) Brazil South America Companhia Energetica de Minas Gerais - CEMIG Brazil South America Electric Domestic 15 1581 06-Nov-09 The AES Corp (15.82%) United States North America China Investment Corp China Asia-Pacific Electric Cross-border 16 1498 20-Jul-09 Canadian Hydro Developers Inc Canada North America TransAlta Corp - - 17 1425 16-Sep-09 Companhia Energetica de Minas Gerais - CEMIG (14.41%) Brazil South America AG Concessoes SA Brazil South America Gas Domestic 18 1418 17-Oct-09 Empresa de Energia del Pacifico SA ESP - EPSA (63.84%) Colombia South America Compania Colombiana de Inversiones SA; Banca de Inversion Bancolombia SA; Inversiones Argos SA Colombia South America Electric Domestic 19 1335 30-Jun-09 Power Station (Borssele nuclear power plant) Netherlands Europe Existing Shareholders Netherlands Europe Electric Domestic 20 1323 10-Nov-09 Transpower Stromuebertragungs GmbH Germany Europe TenneT TSO BV Netherlands Europe Electric Cross-border 21 1270 29-May-09 E.ON AG (Coal-burning power plants Lippendorf Block S and Bexbach, Germany) Germany Europe Energie Baden-Wuerttemberg AG - EnBW Germany Europe Electric Domestic 22 1225 24-Dec-09 Gas Natural SDG SA (Electricity Generation Assets in Mexico) Mexico North America Mitsui & Co Ltd; Tokyo Gas Co Ltd Japan Asia-Pacific Electric Cross-border 23 1221 04-Jul-09 Jaiprakash Power Ventures Ltd (49.1532%) India Asia-Pacific Jaiprakash Hydro Power Ltd India Asia-Pacific Electric Domestic 24 1215 01-Jul-09 International Power Opatovice as Czech Republic Europe J&T Finance Group as Slovak Republic Europe Electric Cross-border 25 1148 19-Dec-09 Gas Natural Distribucion SDG SA (500,000 connection points for gas distribution in Madrid) Spain Europe Morgan Stanley Infrastructure Partners; Galp Energia SGPS SA United States North America Gas Cross-border 26 1138 17-Oct-09 Empresa de Energia del Pacifico S.A. (BVC:EPSA) Colombia South America Inversiones Argos (BVC:INVERARGOS); Compania Colombiana de Inversiones S.A. (BVC:COLINVERS); Banca de Inversión Bancolombia S.A. - - 27 1125 02-Mar-09 SDIC Electric Power Co China Asia-Pacific SDIC Huajing Power Holdings Co Ltd China Asia-Pacific Electric Domestic 28 1072 28-Aug-09 Power Station (1000MW Sual coal-fired power plant) Philippines Asia-Pacific San Miguel Corp Philippines Asia-Pacific Electric Domestic 29 969 22-May-09 GDF Suez SA (1.2%) France Europe Market Purchase France Europe Gas Domestic 30 948 22-Jun-09 Stadtwerke Bremen AG - SWB (51%) Germany Europe EWE AG; City State of Bremen Germany Europe Electric Domestic 31 903 30-Dec-09 Light SA (26.06%) Brazil South America Companhia Energetica de Minas Gerais - CEMIG Brazil South America Electric Domestic 32 900 03-Dec-09 Iberdrola Renewables, Inc. United States North America Pacific Gas & Electric Co. - - 33 833 24-Dec-09 Shanxi Lujin Hequ Power Co Ltd (75%); Shanxi Luneng Hequ Electricity & Coal Development Co Ltd; Shanxi Luneng Hequ Power Co Ltd China Asia-Pacific Guangdong Golden Horse Tourism Group Stock Co Ltd China Asia-Pacific Electric Domestic 34 790 19-Oct-09 Energy Developments Ltd Australia Australasia Pacific Equity Partners Pty Ltd Australia Australasia Electric Domestic 35 780 29-Dec-09 Dominion Resources Inc (Natural Gas Unit in Pennsylvania ) United States North America SteelRiver Infrastructure Fund North America LP United States North America Electric Domestic 36 741 04-Oct-09 Elkem Energi Siso AS and Elkem Energi Lakshola AS Norway Europe Ostfold Energi As; Nord-Trøndelag Energiverk Energi AS - - 37 733 05-Feb-09 Outram Ltd China Asia-Pacific Hongkong Electric Holdings Ltd Hong Kong Asia-Pacific Electric Cross-border 38 730 27-Nov-09 China Longyuan Power Corp (Stake%) China Asia-Pacific China Investment Corp; China Life Insurance Co Ltd; Value Partners Ltd; WL Ross & Co LLC; South Valley Holdings Ltd; China Life Insurance (Group) Co China Asia-Pacific Electric Domestic 39 724 17-Jun-09 Teck Resources Limited Canada North America BC Hydro - - 40 691 28-Aug-09 Power Station (700MW Pagbilao coal fired power plant) Philippines Asia-Pacific Aboitiz Power Corp Philippines Asia-Pacific Electric Domestic 41 688 23-Apr-09 Northland Power Inc Canada North America Northland Power Income Fund Canada North America Electric Domestic 42 681 10-Dec-09 Power Station (Ekibastuz GRES -1 power plant, Kazakhstan) Kazakhstan Asia-Pacific SamrukKazyna National Welfare Fund Kazakhstan Asia-Pacific Electric Domestic Power deals includes analysis of all global cross-border and domestic electricity, gas and renewable energy deal activity. It is the latest in our Power Deals annual series. This year, we have expanded the range of data sources to provide the fullest possible account of deal-making for renewable power assets. The analysis is based on published transactions from the Dealogic ‘M&A Global database’ for all electricity and gas deals. For renewables deals, we have supplemented this with analysis on published transactions from a variety of databases (John S Herold; Mergermarket; Capital IQ; Thomson as well as Dealogic). This enables consistency with our companion Renewables Deals publication which looks specifically at renewable energy M&A. Analysis encompasses announced deals, including those pending financial and legal closure, and those which are completed. Deal values are the consideration value announced or reported including any assumption of debt and liabilities. We have considered Asia Pacific as a region including Australasia, except where otherwise explicitly stated. All presented numbers of deals are inclusive of those deals with no reported value. PricewaterhouseCoopers: Power Deals* 2009 Annual Review - Mergers and acquisitions activity within the global electricity and gas market - all published transactions Page 1 of 15

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Page 1: Power Deals 2009 All Deals

No.

Value of transaction

(US$m)Date announced

Target Name Target Nationality Target Location Acquirer name Acquirer Nationality Acquirer Location Sector Type

1 14031 20-Feb-09 Endesa SA (25.01%) Spain Europe ENEL SpA Italy Europe Electric Cross-border2 9912 12-Jan-09 Essent NV (Excluding certain assets) Netherlands Europe RWE AG Germany Europe Electric Cross-border3 6197 23-Feb-09 Nuon NV (49%) Netherlands Europe Vattenfall AB Sweden Europe Electric Cross-border

4 5966 15-May-09

Three Gorges Industry Co Ltd (Power generation assets of Three Gorges Project and equity of auxiliary companies);Yangtze Three Gorges Technology & Economy Development Co Ltd;Three Gorges Facilities Materials Co Ltd;Yangtze Three Gorges Hydroelectric Engineering Co Ltd;Three Gorges Hi-Tech Information Technology Co Ltd;Three Gorges International Tender Co Ltd China Asia-Pacific China Yangtze Power Co Ltd China Asia-Pacific Electric Domestic

5 4103 12-Aug-09 Thuega AG Germany Europe

Stadtwerke Hannover AG;Kom9 GmbH & Co KG;N-ERGIE AG;Mainova AG Germany Europe Electric Domestic

6 3685 20-Feb-09 Endesa SA-Assets Spain Europe Acciona SA - -7 3486 11-May-09 British Energy Group plc United Kingdom Europe Centrica plc United Kingdom Europe Electric Domestic

8 2989 29-Oct-09

New Brunswick Power Corp (Nuclear generating facility at Point Lepreau, the hydro facilities, the peaking power plants and the transmission and distribution assets) Canada North America Hydro-Quebec Canada North America Electric Domestic

9 2909 12-Feb-09Societa Italiana per il Gas SpA - ITALGAS (49.97%);Stoccaggi Gas Italia SpA - STOGIT Italy Europe Snam Rete Gas SpA Italy Europe Gas Domestic

10 1988 08-Jun-09 EON AG Germany Europe VERBUND Innkraftwerke GmbH - -11 1847 11-May-09 SPE SA (51%) Belgium Europe Electricite de France SA - EDF France Europe Electric Cross-border

12 1675 10-Aug-09Power Station (Five peaking and three combined-cycle generation assets) United States North America LS Power Group United States North America Electric Domestic

13 1645 18-Sep-09 Hubei Energy Group Co Ltd China Asia-Pacific Hubei Triring Co Ltd China Asia-Pacific Electric Domestic14 1592 24-Apr-09 Terna Participacoes SA (65.86%) Brazil South America Companhia Energetica de Minas Gerais - CEMIG Brazil South America Electric Domestic15 1581 06-Nov-09 The AES Corp (15.82%) United States North America China Investment Corp China Asia-Pacific Electric Cross-border16 1498 20-Jul-09 Canadian Hydro Developers Inc Canada North America TransAlta Corp - -

17 1425 16-Sep-09Companhia Energetica de Minas Gerais - CEMIG (14.41%) Brazil South America AG Concessoes SA Brazil South America Gas Domestic

18 1418 17-Oct-09Empresa de Energia del Pacifico SA ESP - EPSA (63.84%) Colombia South America

Compania Colombiana de Inversiones SA;Banca de Inversion Bancolombia SA;Inversiones Argos SA Colombia South America Electric Domestic

19 1335 30-Jun-09 Power Station (Borssele nuclear power plant) Netherlands Europe Existing Shareholders Netherlands Europe Electric Domestic20 1323 10-Nov-09 Transpower Stromuebertragungs GmbH Germany Europe TenneT TSO BV Netherlands Europe Electric Cross-border

21 1270 29-May-09E.ON AG (Coal-burning power plants Lippendorf Block S and Bexbach, Germany) Germany Europe Energie Baden-Wuerttemberg AG - EnBW Germany Europe Electric Domestic

22 1225 24-Dec-09Gas Natural SDG SA (Electricity Generation Assets in Mexico) Mexico North America

Mitsui & Co Ltd;Tokyo Gas Co Ltd Japan Asia-Pacific Electric Cross-border

23 1221 04-Jul-09 Jaiprakash Power Ventures Ltd (49.1532%) India Asia-Pacific Jaiprakash Hydro Power Ltd India Asia-Pacific Electric Domestic24 1215 01-Jul-09 International Power Opatovice as Czech Republic Europe J&T Finance Group as Slovak Republic Europe Electric Cross-border

25 1148 19-Dec-09Gas Natural Distribucion SDG SA (500,000 connection points for gas distribution in Madrid) Spain Europe

Morgan Stanley Infrastructure Partners;Galp Energia SGPS SA United States North America Gas Cross-border

26 1138 17-Oct-09 Empresa de Energia del Pacifico S.A. (BVC:EPSA) Colombia South America

Inversiones Argos (BVC:INVERARGOS); Compania Colombiana de Inversiones S.A. (BVC:COLINVERS); Banca de Inversión Bancolombia S.A. - -

27 1125 02-Mar-09 SDIC Electric Power Co China Asia-Pacific SDIC Huajing Power Holdings Co Ltd China Asia-Pacific Electric Domestic28 1072 28-Aug-09 Power Station (1000MW Sual coal-fired power plant) Philippines Asia-Pacific San Miguel Corp Philippines Asia-Pacific Electric Domestic29 969 22-May-09 GDF Suez SA (1.2%) France Europe Market Purchase France Europe Gas Domestic

30 948 22-Jun-09 Stadtwerke Bremen AG - SWB (51%) Germany EuropeEWE AG;City State of Bremen Germany Europe Electric Domestic

31 903 30-Dec-09 Light SA (26.06%) Brazil South America Companhia Energetica de Minas Gerais - CEMIG Brazil South America Electric Domestic32 900 03-Dec-09 Iberdrola Renewables, Inc. United States North America Pacific Gas & Electric Co. - -

33 833 24-Dec-09

Shanxi Lujin Hequ Power Co Ltd (75%);Shanxi Luneng Hequ Electricity & Coal Development Co Ltd;Shanxi Luneng Hequ Power Co Ltd China Asia-Pacific Guangdong Golden Horse Tourism Group Stock Co Ltd China Asia-Pacific Electric Domestic

34 790 19-Oct-09 Energy Developments Ltd Australia Australasia Pacific Equity Partners Pty Ltd Australia Australasia Electric Domestic

35 780 29-Dec-09Dominion Resources Inc (Natural Gas Unit in Pennsylvania ) United States North America SteelRiver Infrastructure Fund North America LP United States North America Electric Domestic

36 741 04-Oct-09 Elkem Energi Siso AS and Elkem Energi Lakshola AS Norway Europe Ostfold Energi As; Nord-Trøndelag Energiverk Energi AS - -37 733 05-Feb-09 Outram Ltd China Asia-Pacific Hongkong Electric Holdings Ltd Hong Kong Asia-Pacific Electric Cross-border

38 730 27-Nov-09 China Longyuan Power Corp (Stake%) China Asia-Pacific

China Investment Corp;China Life Insurance Co Ltd;Value Partners Ltd;WL Ross & Co LLC;South Valley Holdings Ltd;China Life Insurance (Group) Co China Asia-Pacific Electric Domestic

39 724 17-Jun-09 Teck Resources Limited Canada North America BC Hydro - -

40 691 28-Aug-09Power Station (700MW Pagbilao coal fired power plant) Philippines Asia-Pacific Aboitiz Power Corp Philippines Asia-Pacific Electric Domestic

41 688 23-Apr-09 Northland Power Inc Canada North America Northland Power Income Fund Canada North America Electric Domestic

42 681 10-Dec-09Power Station (Ekibastuz GRES -1 power plant, Kazakhstan) Kazakhstan Asia-Pacific SamrukKazyna National Welfare Fund Kazakhstan Asia-Pacific Electric Domestic

Power deals includes analysis of all global cross-border and domestic electricity, gas and renewable energy deal activity. It is the latest in our Power Deals annual series. This year, we have expanded the range of data sources to provide the fullest possible account of deal-making for renewable power assets. The analysis is based on published transactions from the Dealogic ‘M&A Global database’ for all electricity and gas deals. For renewables deals, we have supplemented this with analysis on published transactions from a variety of databases (John S Herold; Mergermarket; Capital IQ; Thomson as well as Dealogic). This enables consistency with our companion Renewables Deals publication which looks specifically at renewable energy M&A. Analysis encompasses announced deals, including those pending financial and legal closure, and those which are completed. Deal values are the consideration value announced or reported including any assumption of debt and liabilities. We have considered Asia Pacific as a region including Australasia, except where otherwise explicitly stated. All presented numbers of deals are inclusive of those deals with no reported value.

PricewaterhouseCoopers: Power Deals* 2009 Annual Review - Mergers and acquisitions activity within the global electricity and gas market - all published transactions

Page 1 of 15

Page 2: Power Deals 2009 All Deals

No.

Value of transaction

(US$m)Date announced

Target Name Target Nationality Target Location Acquirer name Acquirer Nationality Acquirer Location Sector Type

Power deals includes analysis of all global cross-border and domestic electricity, gas and renewable energy deal activity. It is the latest in our Power Deals annual series. This year, we have expanded the range of data sources to provide the fullest possible account of deal-making for renewable power assets. The analysis is based on published transactions from the Dealogic ‘M&A Global database’ for all electricity and gas deals. For renewables deals, we have supplemented this with analysis on published transactions from a variety of databases (John S Herold; Mergermarket; Capital IQ; Thomson as well as Dealogic). This enables consistency with our companion Renewables Deals publication which looks specifically at renewable energy M&A. Analysis encompasses announced deals, including those pending financial and legal closure, and those which are completed. Deal values are the consideration value announced or reported including any assumption of debt and liabilities. We have considered Asia Pacific as a region including Australasia, except where otherwise explicitly stated. All presented numbers of deals are inclusive of those deals with no reported value.

PricewaterhouseCoopers: Power Deals* 2009 Annual Review - Mergers and acquisitions activity within the global electricity and gas market - all published transactions

43 658 12-Mar-09 Rezende Barbosa SA - Aministracao e Participacoes Brazil South America Cosan SA Industria e Comercio - -44 609 22-May-09 Red Electrica de Espana SA (10%) Spain Europe Red Electrica de Espana SA Spain Europe Electric Domestic45 571 06-Nov-09 AES Corp United States North America China Investment Corp{CIC} - -46 557 05-Feb-09 Proenergia Internacional SA Colombia South America Existing Shareholders Colombia South America Gas Domestic47 555 02-Jun-09 Gamesa Corporacion Tecnologica SA Spain Europe Iberdrola - -48 515 03-Jun-09 Datang Yantan Hydropower Co., Ltd. China Asia-Pacific Guangxi Guiguan Electric Power Co., Ltd. (SHSE:600236) - -

49 509 11-Jun-09Liander NV (Liander regional 1800 km of electricity connections and some 70 high-voltage installations) Netherlands Europe TenneT BV Netherlands Europe Electric Domestic

50 500 09-Oct-09 Galata Wind Enerji Turkey Europe Agaoglu Group of Companies - -51 483 13-Mar-09 Abitibi Consolidated Co. Canada North America Hydro-Quebec - -52 480 19-Oct-09 Sarawak Energy Bhd (38.2242%) Malaysia Asia-Pacific Delegateam Sdn Bhd Malaysia Asia-Pacific Electric Domestic

53 470 31-Mar-09Enexis (Enexis Dutch regional high-voltage grids of 110 and 150 kV) Netherlands Europe TenneT BV Netherlands Europe Electric Domestic

54 465 20-Jul-09

Power Station (248,000 connection points for gas distribution, 209,000 gas clients and 4,000 electricity clients) Spain Europe Energias de Portugal SA - EDP Portugal Europe Electric Cross-border

55 450 03-Sep-09 Elektroprivreda Crne Gore AD - EPCG (30.07%) Montenegro Europe A2A SpA Italy Europe Electric Cross-border56 450 06-Jul-09 Veolia Environment United States North America Covanta Holding Corporation - -57 441 23-Apr-09 Power Station (Gas-fired power station ENECOGEN) Netherlands Asia-Pacific Dong Energy A/S Denmark Europe Electric Cross-border58 434 01-Oct-09 Gas Natural SDG SA (2.3%) Spain Europe Market Purchase Spain Europe Electric Domestic59 418 15-Oct-09 Solel Solar Systems Ltd Israel Middle East Siemens AG - -60 415 23-Apr-09 Union Fenosa SA (4.78%) Spain Europe Gas Natural SDG SA Spain Europe Electric Domestic

61 413 02-Dec-09 Huadian Power International Corp Ltd (8.86%) China Asia-Pacific

Shenzhen Bosera Asset Management Co Ltd (Liu Yiqian 1.48%);Taikang Asset Management Co Ltd;Qingdao Huatong State-owned Capital Operation (Group) Co Ltd;Harvest Fund Management Co Ltd;Aviation Shenzhou Investment Management Co Ltd;China Guangdong Nuclear Power Corp;Qingdao Guoxin Development (Group) Co Ltd;Guangdong Hengjian Investment Holdings Co Ltd China Asia-Pacific Electric Domestic

62 409 28-May-09

Gornoslaski Zaklad Elektroenergetyczny SA - GZE (25.07%);Vattenfall Heat Poland SA Poland Europe Vattenfall AB Sweden Europe Electric Cross-border

63 400 02-Mar-09 OptiSolar Inc United States North America First Solar Inc - -64 390 18-Mar-09 Power Station (3 Solar Photovoltaic plants in Spain) Spain Europe HgCapital LLP - -65 381 29-Jun-09 Renewable Energy Corp ASA Norway Europe Investor Group - -66 380 03-Jun-09 Empresa de Energia del Pacifico S.A. (BVC:EPSA) Colombia South America Gas Natural Internacional SDG, S.A. - -67 379 09-Oct-09 Edegel SAA (29.4%) Peru South America Empresa Nacional de Electricidad SA - ENDESA Chile Chile South America Electric Cross-border

68 378 07-May-09Empresa de Energia del Pacifico SA ESP - EPSA (39.23%) Colombia South America Gas Natural SDG SA Spain Europe Electric Cross-border

69 362 08-Jul-09Power Station (Calaca coal-fired thermal power plant, Batangas) Philippines Asia-Pacific DMCI Holdings Inc Philippines Asia-Pacific Electric Domestic

70 360 26-May-09Pacific Hydro Ltd (111MW Chacayes hydro project in Chile.) Chile South America Astaldi SpA - -

71 353 09-Jun-09 Henan Zhongfu Electric Co Ltd (28%) China Asia-Pacific Henan Yulian Resources Group Co Ltd China Asia-Pacific Electric Domestic

72 352 01-Oct-09Babcock and Brown Power Limited, Three Operating Wind Power Projects United States North America NextEra Energy Resources, LLC - -

73 349 11-Dec-09 TGK-13 OAO Russian Federation FSU Sibenergyholding OAO Russian Federation FSU Electric Domestic

74 340 05-May-09Potomac Edison Co (electric distribution operations in Virginia) United States North America

Rappahannock Electric Cooperative;Shenandoah Valley Electric Cooperative United States North America Electric Domestic

75 340 21-Dec-09 CESTE - Consórcio Estreito Energia Brazil South America Tractebel Energia S.A. (BOVESPA:TBLE3) - -76 338 13-Nov-09 Guodian Jiangsu Power Co Ltd (37.26%) China Asia-Pacific GD Power Development Co Ltd China Asia-Pacific Electric Domestic

77 334 06-Nov-09Empresa Electrica del Norte Grande SA - EDELNOR (52.4%) Chile South America GDF Suez SA France Europe Electric Cross-border

78 330 30-Oct-09 Chubu Electric Power Co Inc (2.1%) Japan Asia-Pacific Chubu Electric Power Co Inc Japan Asia-Pacific Electric Domestic79 330 10-Jun-09 Light SA (13.14%) Brazil South America Market Purchase Brazil South America Electric Domestic

80 328 07-Sep-09CEZ Distributie SA (30%);CEZ Vanzare SA Romania Europe Ceske Energeticke Zavody as - CEZ Czech Republic Europe Electric Cross-border

81 323 22-Oct-09 SunEdison LLC United States North America MEMC Electronic Materials Inc - -

82 320 21-Dec-09 Matep LLC United States North AmericaVeolia Environnement SA;Morgan Stanley Infrastructure Partners France Europe Electric Cross-border

83 317 03-Aug-09 Babcock & Brown-French Wind France Europe AXA Private Equity - -

84 310 16-Jul-09Gamesa Corporación Tecnológica S.A., Six Wind Farms in Galicia and Catalonia Spain Europe

Inveravante Inversiones Universales, S.L; Gestamp Eólica S.L. - -

85 302 04-May-09Abu Dhabi Water & Electricity Authority - ADWEA (Fujairah Water And Electricity Plant) United Arab Emirates Middle East Abu Dhabi National Energy Co - Taqa United Arab Emirates Middle East Electric Domestic

86 299 01-Jun-09 Constellation Energy Group Inc (5.49743%) United States North America Barclays plc United Kingdom Europe Electric Cross-border87 299 01-Jul-09 Iberdrola SA Chile South America Compania General de Electricidad SA - -

88 295 04-Oct-09 Elkem Energi Bremanger AS Norway EuropeSogn Og Fjordane Energi AS; Tafjord Kraftproduksjon AS; Sognekraft AS - -

89 294 24-Jun-09 Iberoamericana de Energía Ibener, S.A. Chile South America CGE Generación S.A. - -90 288 02-Mar-09 Reliant Energy Inc (Texas Retail Business) United States North America NRG Energy Inc United States North America Electric Domestic91 273 15-Apr-09 Renewagy A/S Denmark Europe COLEXON Energy AG - -92 273 02-Jun-09 Gamesa Corporacion Tecnologica SA (4.91%) Spain Europe Morgan Stanley United States North America Electric Cross-border93 267 19-May-09 CPFL Energia (3.46%) Brazil South America Undisclosed Acquiror Brazil South America Electric Domestic

94 260 22-Jul-09OptiSolar Technologies Inc (Intellectual property and an R&D facility ) United States North America Allora Minerals Inc Australia Australasia Electric Cross-border

Page 2 of 15

Page 3: Power Deals 2009 All Deals

No.

Value of transaction

(US$m)Date announced

Target Name Target Nationality Target Location Acquirer name Acquirer Nationality Acquirer Location Sector Type

Power deals includes analysis of all global cross-border and domestic electricity, gas and renewable energy deal activity. It is the latest in our Power Deals annual series. This year, we have expanded the range of data sources to provide the fullest possible account of deal-making for renewable power assets. The analysis is based on published transactions from the Dealogic ‘M&A Global database’ for all electricity and gas deals. For renewables deals, we have supplemented this with analysis on published transactions from a variety of databases (John S Herold; Mergermarket; Capital IQ; Thomson as well as Dealogic). This enables consistency with our companion Renewables Deals publication which looks specifically at renewable energy M&A. Analysis encompasses announced deals, including those pending financial and legal closure, and those which are completed. Deal values are the consideration value announced or reported including any assumption of debt and liabilities. We have considered Asia Pacific as a region including Australasia, except where otherwise explicitly stated. All presented numbers of deals are inclusive of those deals with no reported value.

PricewaterhouseCoopers: Power Deals* 2009 Annual Review - Mergers and acquisitions activity within the global electricity and gas market - all published transactions

95 258 19-May-09 CPFL Energia S.A. (BOVESPA:CPFE3) Brazil South America - - -

96 252 20-Mar-09

Ohio Valley Electric Corp (200 megawatts (MW) from OVEC's generating facilities in southern Ohio and southern Indiana. ) United States North America Buckeye Power Inc United States North America Electric Domestic

97 252 01-May-09 Ohio Valley Electric Corporation United States North America Buckeye Power Generating, LLC - -98 247 02-Oct-09 Empresa de Energia de Bogota SA ESP - EEB (7.2%) Colombia South America Investor Group (Institutional investors) Colombia South America Electric Domestic

99 243 31-Aug-09 Wemag AG (80.3%) Germany EuropeInvestor Group (268 municipalities of Mecklenburg-Western Pomerania and Brandenburg, Germany) Germany Europe Electric Domestic

100 242 23-Jan-09 Luxempart-Energie SA (51%) Luxembourg Europe RWE AG Germany Europe Electric Cross-border101 240 11-Nov-09 Vale do Ivai S/A Acucar e Alcool Brazil South America Shree Renuka Sugars Ltd - -

102 234 09-Sep-09Polaris Geothermal Inc; Western GeoPower Corp; Ram Power Inc United States North America Ram Power Corp - -

103 225 24-Aug-09 RWE AG (Minority%) Germany Europe KEB Holding AG Switzerland Europe Electric Cross-border104 223 29-Sep-09 Alupar Investimento SA (17.84%) Brazil South America Fundo de Investimento em Infraestrutura do FGTS Brazil South America Electric Domestic105 220 05-May-09 Vapo Oy (49.90% stake) Finland Europe Etela-Pohjanmaan Voima Oy (EPV) - -

106 220 23-Oct-09Power Station (192.5MW Palinpinon and 112.5MW Tongonan geothermal power plants) Philippines Asia-Pacific Energy Development Corp (EDC) - -

107 220 01-Jun-09 Enagas SA (5%) Spain Europe Oman Oil Co - OOC Oman Middle East Gas Cross-border

108 219 15-Dec-09Power Station (Kazan 3 and Nizhnekamsk power plant, Russia) Russian Federation FSU Tataro-American Investments & Finance OAO - TAIF Russian Federation FSU Electric Domestic

109 215 26-Feb-09

Electrificadora de Santander SA ESP - ESSA (78.99%);Centrales Electricas del Norte de Santander SA ESP Colombia South America Empresa Publica de Medellin (EPM) Colombia South America Electric Domestic

110 214 28-Sep-09CEZ Distributie SA (19%);CEZ Vanzare SA Romania Europe Ceske Energeticke Zavody as - CEZ Czech Republic Europe Electric Cross-border

111 202 07-Jan-09 Enersis II SGPS SA (Wind energy assets) Portugal Europe Private Investor (Manuel Serzedelo) - -112 200 26-Aug-09 EverPower Wind Holdings, Inc. United States North America Terra Firma Capital Partners Limited; Good Energies Inc. - -113 198 09-Nov-09 Dalkia Ceska Republika as (15%) Czech Republic Europe Ceske Energeticke Zavody as - CEZ Czech Republic Europe Electric Domestic114 197 13-May-09 Yuneng (Group) Co Ltd China Asia-Pacific Datang International Power Generation Co Ltd China Asia-Pacific Electric Domestic115 196 07-Oct-09 Novera Energy Plc (70.40% stake) UK Europe Infinis Energy Limited - -116 194 23-Jan-09 Wetfeet Offshore Windenergy Germany Europe Investor Group - -117 186 16-Oct-09 Dandong Orient New Energy Co Ltd China Asia-Pacific China Huadian Corp China Asia-Pacific Electric Domestic118 181 18-Mar-09 Yesil Enerji (95%) Turkey Europe Statkraft AS Norway Europe Electric Cross-border

119 176 18-Apr-09Guangdong Electric Power Development Co Ltd (6.99%) China Asia-Pacific Guangdong Yudean Group Co Ltd China Asia-Pacific Electric Domestic

120 172 13-Oct-09Empresa de Investimento em Energias Renovaveis SA (ERSA) (23%) Brazil South America BTG Pactual - -

121 172 26-May-09 Elektroprivreda Crne Gore AD Niksic (15.20% stake) Serbia & Montenegro Europe A2A SpA - -122 169 27-Aug-09 British Energy plc (Eggborough power station, UK) United Kingdom Europe Undisclosed Acquiror United Kingdom Europe Electric Domestic

123 167 28-May-09Moscow United Electricity Distribution Co OJSC - MOESK (9.62%) Russian Federation FSU Sirita Venchyrez Ltd Russian Federation FSU Electric Domestic

124 165 11-May-09Blackhawk Biofuels, LLC; Central Iowa Energy, LLC; Western Iowa Energy, LLC United States North America Renewable Energy Group - -

125 162 26-Jun-09 Solibro AB Sweden Europe Q-Cells SE - -126 162 27-Mar-09 Energie Investimenti SpA (40%) Italy Europe GDF Suez SA France Europe Gas Cross-border127 162 16-Dec-09 Enagas SA (3.03558%) Spain Europe HSBC Holdings plc United Kingdom Europe Gas Cross-border

128 158 22-Apr-09Tianjin Huaneng Yangliuqing Co-generation Co Ltd (55%) China Asia-Pacific Huaneng Power International Inc China Asia-Pacific Electric Domestic

129 155 28-Apr-09 SK E&S Co Ltd (24.5%) South Korea Asia-Pacific SK C&C Co Ltd South Korea Asia-Pacific Gas Domestic130 149 03-Aug-09 Power Station (Hartwell plant) United States North America Oglethorpe Power Corp United States North America Electric Domestic131 147 24-Feb-09 Iberdrola SA (0.425%) Spain Europe Market Purchase Spain Europe Electric Domestic132 138 28-Oct-09 GLID Wind Farms Topco Ltd UK Europe TCW Energy & Infrastructure - -

133 135 29-May-09PPL Edgewood Energy LLC;PPL Shoreham Energy LLC United States North America J-Power Privatization Fund Co Ltd Japan Asia-Pacific Electric Cross-border

134 135 20-Apr-09 Florida Public Utilities Co United States North America Chesapeake Utilities Corp United States North America Electric Domestic135 134 26-May-09 Elektroprivreda Crne Gore AD - EPCG (15%) Montenegro Europe A2A SpA Italy Europe Electric Cross-border

136 134 11-Sep-09BP Plc (Wind energy assets located in Maharashtra and Karnataka) India Asia-Pacific Green Infra Limited - -

137 128 02-Oct-09 Almeria; Solon Spain Europe Konstantin Strasser (Private Investor) - -138 124 21-May-09 North Allegheny Wind, LLC United States North America Duke Energy Corporation (NYSE:DUK) - -139 121 30-Sep-09 AIM PowerGen Corporation Canada North America International Power plc (LSE:IPR) - -140 119 14-May-09 Moscow Integrated Power Co OAO - MOEK (3.46%) Russian Federation FSU City of Moscow Russian Federation FSU Electric Domestic

141 116 23-Apr-09Sierra Pacific Power Co (California electric distribution and generation assets) United States North America

Algonquin Power Income Fund;Emera Inc Canada North America Electric Cross-border

142 116 22-Apr-09Sierra Pacific Power Co., California Electric Distribution and Generation Assets United States North America

Emera Inc. (TSX:EMA); Algonquin Power & Utilities Corp. (TSX:AQN) - -

143 112 02-Jan-09 Suzlon Energy Ltd Belgium Europe Ecofin Ltd - -144 110 19-Jun-09 TGC-6 OAO (19.3836%) Russian Federation FSU Jamica Ltd Russian Federation FSU Electric Domestic145 110 22-Jul-09 Zhongshan Power Plant Co Ltd (Stake%) China Asia-Pacific Guangdong Investment Ltd Hong Kong Asia-Pacific Electric Cross-border146 109 01-Jul-09 ENDESA INGENIERÍA S.L., 10MW Photovoltaic Plant Spain Europe Macquarie Capital Funds (Europe) Ltd. - -

147 108 10-Nov-09KG Allgemeine Leasing GmbH & Co. and E.ON Energy Projects GmbH, Merinda Wind Farm Portfolio Germany Europe - - -

148 107 31-Oct-09 Zhanjiang Zhongyue Energy Co Ltd (51%) China Asia-Pacific Guangdong Electric Power Development Co Ltd China Asia-Pacific Electric Domestic149 107 27-Jul-09 Stanton Wind Energy LLC United States North America Sumitomo Corporation of America - -

150 105 25-Feb-09Power Station (Heard County Power Generation Facility ) United States North America Oglethorpe Power Corp United States North America Electric Domestic

151 105 16-Nov-09 Endesa SA-Arico Solar Energy Spain Europe Platina Partners LLP - -

152 104 04-Sep-09Shanghai Electric Power Generation Equipment Co Ltd (9.6%) China Asia-Pacific Siemens AG Germany Europe Electric Cross-border

Page 3 of 15

Page 4: Power Deals 2009 All Deals

No.

Value of transaction

(US$m)Date announced

Target Name Target Nationality Target Location Acquirer name Acquirer Nationality Acquirer Location Sector Type

Power deals includes analysis of all global cross-border and domestic electricity, gas and renewable energy deal activity. It is the latest in our Power Deals annual series. This year, we have expanded the range of data sources to provide the fullest possible account of deal-making for renewable power assets. The analysis is based on published transactions from the Dealogic ‘M&A Global database’ for all electricity and gas deals. For renewables deals, we have supplemented this with analysis on published transactions from a variety of databases (John S Herold; Mergermarket; Capital IQ; Thomson as well as Dealogic). This enables consistency with our companion Renewables Deals publication which looks specifically at renewable energy M&A. Analysis encompasses announced deals, including those pending financial and legal closure, and those which are completed. Deal values are the consideration value announced or reported including any assumption of debt and liabilities. We have considered Asia Pacific as a region including Australasia, except where otherwise explicitly stated. All presented numbers of deals are inclusive of those deals with no reported value.

PricewaterhouseCoopers: Power Deals* 2009 Annual Review - Mergers and acquisitions activity within the global electricity and gas market - all published transactions

153 102 10-Aug-09 Gemeng International Energy Group (7%) China Asia-Pacific Electric Power Development Co Ltd - J-Power Japan Asia-Pacific Electric Cross-border154 102 03-Nov-09 Heritage Gas Ltd (75.1%) Canada North America AltaGas Utility Group Inc Canada North America Gas Domestic155 101 03-Aug-09 Undisclosed Germany Europe The Bosch Group - -

156 100 19-Aug-09 Ind-Barath Power Infra Pvt Ltd (18%) India Asia-Pacific

Citi Venture Capital International - CVCI;Sequoia Capital;Bessemer Venture Partners - BVP United States North America Electric Cross-border

157 99 11-Sep-09Guangzhou Hengyun Thermal Power Plant (C) Co Ltd (50%) China Asia-Pacific Guangzhou Hengyun Enterprises Holding Co Ltd China Asia-Pacific Electric Domestic

158 99 22-Oct-09 Pohjolan Voima Oy (1.2%) Finland Europe UPM-Kymmene Oyj Finland Europe Electric Domestic159 96 15-Jul-09 Power Station (Daesan Combined Cycle Power Plant) South Korea Asia-Pacific Meiya Power Co Ltd Hong Kong Asia-Pacific Electric Cross-border160 95 01-Jul-09 PPL Maine, LLC, Hydroelectric Generation Business United States North America Black Bear Hydro Partners LLC - -

161 94 07-Apr-09Roaring 40s Renewable Energy Pty Ltd., 10 Wind Farms in China China Asia-Pacific CLP Holdings Ltd. (SEHK:2) - -

162 94 19-Nov-09Valley Electric Membership Corp (Transmission & Distribution Assets ) United States North America American Electric Power Co Inc - AEP United States North America Electric Domestic

163 94 04-Feb-09Industrias Metalurgicas Pescarmona S.a.i.c. Y F., 3 Wind-Energy Projects in Northeast Brazil Brazil South America Cia Energetica de Minas Gerais (BOVESPA:CMIG4) - -

164 92 23-Sep-09 Dynamic Green Energy Ltd China Asia-Pacific ReneSola Ltd - -165 91 28-May-09 Sistemes Energetics Serra Les Forques S.A Spain Europe Genera Avante S.L; Gestamp Eolica S.L - -166 91 05-Oct-09 Tianjin Gas Group Co Ltd (Gas pipeline assets) China Asia-Pacific Tianjin Tianlian Public Utilities Co Ltd China Asia-Pacific Gas Domestic167 90 23-Jan-09 U.S. Energy Biogas Corp. United States North America Silver Point Finance, LLC - -168 90 30-Dec-09 Redes Energeticas Nacionais SGPS - REN (3.9%) Portugal Europe Parpublica - Participacoes Publicas SGPS SA Portugal Europe Electric Domestic169 89 07-Apr-09 Santelisa Vale Bioenergia SA (40.00% stake) Brazil South America Louis Dreyfus Commodities - -170 87 04-Nov-09 Xcel Energy Inc (Power Distribution Systems) United States North America Lubbock Power & Light United States North America Electric Domestic

171 85 27-Jul-09GDF Suez SA (Al Dur Independent Water and Power (IWPP) project in Bahrain) Bahrain Middle East

First Energy Bank;Capital Management House;Bahrain Islamic Bank Bahrain Middle East Gas Domestic

172 84 07-May-09Greentech Energy Systems A/S, Monte Grighine Wind Energy Project Italy Europe EDF Energies Nouvelles S.A. (ENXTPA:EEN) - -

173 82 26-Feb-09 Empresa de Energia de Cundinamarca SA ESP Colombia South America Empresa de Energia de Bogota SA ESP - EEB Colombia South America Electric Domestic174 82 14-May-09 OGK-6 OAO (17.1153%) Russian Federation FSU Invest-Generatsiya OOO Russian Federation FSU Electric Domestic

175 80 10-Jun-09Delta NV (Delta regional high-voltage grids of 150 kV and 380 kV) Netherlands Europe TenneT BV Netherlands Europe Electric Domestic

176 80 21-Dec-09 Northbrook New York, LLC United States North America Fort Chicago Energy Partners LP (TSX:FCE.UN) - -177 80 24-Nov-09 Jamtkraft AB (20.6%) Sweden Europe Ostersunds Municipality Sweden Europe Electric Domestic178 80 23-Dec-09 Centrica plc, 270 Megawatt Lincs Offshore Wind Farm UK Europe DONG Energy AS; Siemens Project Ventures GmbH - -

179 79 05-Oct-09Ishikawa Prefectural Government (Electric power generation business) Japan Asia-Pacific Hokuriku Electric Power Co Inc Japan Asia-Pacific Electric Domestic

180 77 01-Oct-09Power Station (Hallett 4 Wind Farm, Southern Australia) Australia Australasia

Marubeni Corp (39.9% / 39.9% / 20.2%);APA Group;Osaka Gas Co Ltd - -

181 75 27-Jul-09 Suniva Inc (Stake%) United States North America

Warburg Pincus LLC;HIG Ventures;New Enterprise Associates;Advanced Equities Inc;Apex Venture Partners United States North America Electric Domestic

182 74 03-Nov-09 RENERCO Renewable Energy Comce Germany Europe BayWa Green Energy GmbH - -183 73 09-Jun-09 TGC-11 OAO (28.8%) Russian Federation FSU Inter RAO EES OAO Russian Federation FSU Electric Domestic184 72 12-Nov-09 Kuzbassenergo OAO (16.14%) Russian Federation FSU Donalink Ltd Russian Federation FSU Electric Domestic

185 71 10-Mar-09 NorSun AS (Stake%) Norway EuropeNorsk Hydro ASA;Undisclosed Acquiror - -

186 68 22-Jan-09 Wanneng Maanshan Power Generation Co Ltd (49%) China Asia-Pacific Huainan Mining Group China Asia-Pacific Electric Domestic187 67 25-Nov-09 Zhengzhou Gas Co Ltd (43.18%) China Asia-Pacific China Resources Gas Group Ltd China Asia-Pacific Gas Domestic188 65 13-May-09 Danta De Energias S.A. Spain Europe Agrupacio Energias Renovables, S.A. - -

189 65 17-Aug-09

NCP Perry LLC;Teton Fuels Mid-Georgia LLC;NCP Houston Power LLC United States North America Perennial Power Holdings United States North America Electric Domestic

190 64 09-Feb-09 Constellation Energy Group Inc (1.33271%) United States North America Undisclosed Acquiror United States North America Electric Domestic191 64 24-Feb-09 Enfinity Belgium Europe Waterland Private Equity Fund - -192 63 02-Jun-09 Poweo SA (13.4%) France Europe Oesterreichische Elektrizitatswirtschafts AG - Verbund Austria Europe Electric Cross-border193 62 23-Dec-09 DONG Energy AS, Walney Offshore Wind Farm UK Europe Scottish & Southern Energy plc (LSE:SSE) - -194 62 29-Oct-09 Edison Sault Electric Co United States North America Cloverland Electric Cooperative United States North America Electric Domestic195 62 29-Oct-09 Edison Sault Electric Company, Inc. United States North America Cloverland Electric Cooperative Inc. - -196 61 25-Jun-09 Adani Power Ltd (1.43%) India Asia-Pacific Capital Trade & Investment Pvt Ltd India Asia-Pacific Electric Domestic197 61 26-Mar-09 Central-Asian Electric Power Corp - CAEPCo (Stake%) Kazakhstan Asia-Pacific European Bank for Reconstruction & Development - EBRD United Kingdom Europe Electric Cross-border198 60 18-Mar-09 Gamesa Corporacion Tecnologica SA (2.027%) Spain Europe Marsico Capital Management LLC United States North America Electric Cross-border199 60 13-Dec-09 Majority stake in AES Pak Gen and AES Lal Pir Pakistan Asia-Pacific Nishat Mills Ltd. (KASE:NML) - -200 59 16-Nov-09 Northern Gas Networks Holdings Ltd (6.19%) United Kingdom Europe Hongkong Electric Holdings Ltd Hong Kong Asia-Pacific Gas Cross-border201 59 21-May-09 Red Electrica Corp SA (1%) Spain Europe Market Purchase Spain Europe Electric Domestic

202 58 15-Jul-09 Zhaoheng Hydropower Holdings Ltd (Minority%) China Asia-PacificOlympus Capital Holdings Asia;Zhaoheng International Ltd - -

203 57 01-Feb-09Foresta Private Equity II, S.C.R., S.A, Talayuela And Noblejas Solar Plants Spain Europe Impax Asset Management Group plc (AIM:IPX) - -

204 57 28-Apr-09Center & Privolzhye Interregional Distribution Grid Co OAO (16.82%) Russian Federation FSU Jamica Ltd Russian Federation FSU Electric Domestic

205 56 09-Sep-09 Clenergen Corporation Ltd UK Europe Clenergen Corp - -206 56 21-Jan-09 Alhama Solar, S.L Spain Europe Fotowatio S.L - -207 55 21-Oct-09 Kallpa Generacion SA (25.1%) Peru South America Quimpac Corp SAC Peru South America Electric Domestic208 54 12-May-09 Power Station (7 MW Solar Plant in Malagon) Spain Europe AES Corp - -

Page 4 of 15

Page 5: Power Deals 2009 All Deals

No.

Value of transaction

(US$m)Date announced

Target Name Target Nationality Target Location Acquirer name Acquirer Nationality Acquirer Location Sector Type

Power deals includes analysis of all global cross-border and domestic electricity, gas and renewable energy deal activity. It is the latest in our Power Deals annual series. This year, we have expanded the range of data sources to provide the fullest possible account of deal-making for renewable power assets. The analysis is based on published transactions from the Dealogic ‘M&A Global database’ for all electricity and gas deals. For renewables deals, we have supplemented this with analysis on published transactions from a variety of databases (John S Herold; Mergermarket; Capital IQ; Thomson as well as Dealogic). This enables consistency with our companion Renewables Deals publication which looks specifically at renewable energy M&A. Analysis encompasses announced deals, including those pending financial and legal closure, and those which are completed. Deal values are the consideration value announced or reported including any assumption of debt and liabilities. We have considered Asia Pacific as a region including Australasia, except where otherwise explicitly stated. All presented numbers of deals are inclusive of those deals with no reported value.

PricewaterhouseCoopers: Power Deals* 2009 Annual Review - Mergers and acquisitions activity within the global electricity and gas market - all published transactions

209 53 02-Apr-09 Panva LPG Investment Holdings Ltd China Asia-Pacific Top Diligent Ltd Hong Kong Asia-Pacific Gas Cross-border210 53 23-Dec-09 Adhunik Power & Natural Resources Ltd (Stake%) India Asia-Pacific Infrastructure Development Finance Co Ltd - IDFC India Asia-Pacific Electric Domestic

211 53 27-May-09Roskilde Forsyning (Electricity Supply Division, Roskilde Elforsyning) Denmark Europe SEAS-NVE Denmark Europe Electric Domestic

212 53 24-Jul-09 Berkshire Wind Power Project United States North America Berkshire Wind Power Cooperative Corporation - -213 52 22-Dec-09 Reti Trasmissione Energia Elettrica ASM Srl Italy Europe TERNA - Rete Elettrica Nazionale SpA Italy Europe Electric Domestic214 52 08-Sep-09 Top Steed Ltd (25.06%) China Asia-Pacific China Resources Gas Group Ltd China Asia-Pacific Gas Domestic

215 50 15-Jan-09 Manufacturing plant (Healy coal plant ) United States North AmericaGolden Valley Electric Association;Homer Electric Association Inc United States North America Electric Domestic

216 50 25-Mar-09 Fjellkraft AS (76.70% stake) Norway Europe Nordkraft AS - -

217 50 16-Sep-09Al Dur Independent Water and Power Production Project Bahrain Middle East First Energy Bank - -

218 50 01-Dec-09 Suntrough Energy, Inc. United States North America Bergamo Acquisition Corp. (OTCPK:BGMO) - -219 49 02-Feb-09 Youil Ensys Ltd South Korea Asia-Pacific EG Semicon Co Ltd - -220 48 27-Apr-09 Fujian Anran Gas Investment Co Ltd (49%) China Asia-Pacific China Gas Holdings Ltd Hong Kong Asia-Pacific Gas Cross-border221 46 08-Sep-09 Arise Windpower AB (Stake%) Sweden Europe 1-3 AP Fonden - -222 46 16-Apr-09 Power Station (35%) China Asia-Pacific Electricite de France SA - EDF France Europe Electric Cross-border223 46 22-May-09 Three Solar Parks in Cataluña Spain Europe Hannover Leasing GmbH & Co. KG - -224 46 18-Apr-09 Tongling Wanneng Power Co Ltd (25.54%) China Asia-Pacific Huainan Mining Group Co Ltd China Asia-Pacific Electric Domestic225 46 28-Sep-09 Greenko Group plc (Stake%) India Asia-Pacific Global Environment Fund United States North America Electric Cross-border

226 45 23-Nov-09Shanxi Zhong Kai Group Lingshi Heat & Power Co Ltd (60%) China Asia-Pacific Xian Yuen Titanium Resources Holdings Ltd Hong Kong Asia-Pacific Electric Cross-border

227 45 25-Mar-09 Vestas Wind Systems A/S, Wind Turbine Plant UK Europe Welcon A/S - -228 45 13-Aug-09 Uskmouth Power Co Ltd United Kingdom Europe Scottish & Southern Energy plc United Kingdom Europe Electric Domestic

229 44 31-Mar-09Power Station (Five Hydroelectric Power stations and Two Wind Power Stations) Japan Asia-Pacific Hokuriku Electric Power Co Inc - -

230 44 24-Mar-09 Avantha Power & Infrastructure Ltd (41%) India Asia-Pacific Crompton Greaves Ltd India Asia-Pacific Electric Domestic231 44 30-Mar-09 Power Station (NewGen Kwinana Power Station) Australia Australasia Sumitomo Corp Japan Asia-Pacific Electric Cross-border232 42 26-May-09 Lulea Energi AB (30%) Sweden Europe Lulea kommun Sweden Europe Electric Domestic

233 41 07-Apr-09Nanyang Tianyi Electricity Co Ltd (100% / 55%);Nanyang Yahekou Power Generation Co Ltd China Asia-Pacific Henan Yuneng Holdings Co Ltd China Asia-Pacific Electric Domestic

234 41 07-Oct-09 Voltalia (33.69%) France Europe Private Investor (Meulliez family) France Europe Electric Domestic

235 41 23-Sep-09Empresa Distribuidora Electrica Regional SA - EMDERSA (25.6%) Argentina South America AEI Utilities SL Spain Europe Electric Cross-border

236 41 07-Oct-09 Voltalia SA (49.00% stake) France Europe Groupe Mulliez - -

237 41 15-Jun-09Econcern BV (Part of Ecofys, Evelop and Biomass business) Netherlands Europe Eneco Holding NV - -

238 41 10-Aug-09 Gemeng International Energy Group (3%) China Asia-Pacific Chugoku Electric Power Co Inc Japan Asia-Pacific Electric Cross-border239 41 29-Oct-09 Kaifeng Jingyuan Power Generating Co Ltd (43%) China Asia-Pacific China Power Investment Corp China Asia-Pacific Electric Domestic

240 41 17-Aug-09

Energisa Borborema (Remaining%);Energisa Nova Friburgo;Sociedade Anonima de Eletrificacao da Paraiba SA - SAELPA Brazil South America Energisa SA Brazil South America Electric Domestic

241 39 12-May-09 TGC-1 OAO (5.56%) Russian Federation FSU Undisclosed Acquiror Russian Federation FSU Electric Domestic242 39 09-Jan-09 Wuhan Tongbao Gas Development Co Ltd (51%) China Asia-Pacific China Resources Gas Group Ltd Hong Kong Asia-Pacific Gas Cross-border243 39 17-Apr-09 Quang Ninh Power Joint Stock Co (15%) Vietnam Asia-Pacific Pha Lai Thermal Power Joint Stock Co Vietnam Asia-Pacific Electric Domestic244 38 11-Aug-09 KOM-Strom AG (83.57%) Germany Europe Dong Energy A/S Denmark Europe Electric Cross-border245 38 24-Apr-09 Energosbyt Rushydro OAO (42.56%) Russian Federation FSU RusHydro OAO Russian Federation FSU Electric Domestic246 38 02-Jun-09 Institutional Investors; Kinmac Solar Corp China Asia-Pacific Solargiga Energy Holdings Ltd - -247 38 03-Mar-09 SND Energy Ltd Canada North America Boyuan Construction Group Inc China Asia-Pacific Electric Cross-border248 38 17-Apr-09 Quang Ninh Thermal Power Co. Ltd. Vietnam Asia-Pacific Pha Lai Thermal Power JSC (HOSE:PPC) - -249 38 31-Aug-09 Power Station (450MW Braemar 2 Power Station) Australia Australasia Arrow Energy Ltd (Australia) Australia Australasia Electric Domestic250 38 07-Sep-09 Guodian Taizhou Power Generation Co Ltd (10%) China Asia-Pacific Jiangsu Chunlan Refrigerating Equipment Stock Co Ltd China Asia-Pacific Electric Domestic251 37 14-May-09 Changde Huayou Gas Co Ltd (48.33%) China Asia-Pacific China National Petroleum Corp - CNPC China Asia-Pacific Gas Domestic252 37 03-Mar-09 Sichuan Huachuan Gas Co Ltd China Asia-Pacific Towngas China Co Ltd China Asia-Pacific Gas Domestic

253 37 06-May-09Center & Privolzhye Interregional Distribution Grid Co OAO (10.7805%) Russian Federation FSU Market Purchase Russian Federation FSU Electric Domestic

254 37 18-Jun-09 China Power Dafeng Wind Power Company Limited China Asia-Pacific Oxford Vantage Limited - -

255 37 25-Jun-09Yunnan Mile Leidatan Hydroelectric Power Co Ltd (55%) China Asia-Pacific Jiangsu Chengxing Phosph-Chemicals Co Ltd - -

256 35 05-Jan-09 Xinjiang Xinjie Co Ltd (71.8095%) China Asia-Pacific CNPC (Hong Kong) Ltd Hong Kong Asia-Pacific Gas Cross-border257 34 03-Jun-09 Fortum Oyj (Heat and power plant in Kokkola/ Finland) Finland Europe Kokkola Finland Europe Electric Domestic258 34 20-Oct-09 Energy Holding OOO (80%) Russian Federation FSU Peterburg Energy Retail OAO Russian Federation FSU Electric Domestic259 34 30-Oct-09 Sichuan Mingxing Electric Power Co Ltd (9.833%) China Asia-Pacific State Grid Corp of China China Asia-Pacific Electric Domestic260 33 16-Dec-09 Borkum Riffgrund I and II Germany Europe DONG Energy AS - -261 33 05-Jan-09 Frederiksberg Forsyning A/S Denmark Europe Frederiksberg Denmark Europe Gas Domestic262 33 04-Feb-09 Pozohondo solar farm Spain Europe Alten Energias Renovables - -263 33 08-Jun-09 Novosibirskenergo OAO (8.08%) Russian Federation FSU Gardendale Investments Ltd Russian Federation FSU Electric Domestic264 33 08-Jun-09 Novosibirskenergo OAO (8.08%) Russia FSU Gardendale Investments Ltd - -

265 33 09-Jul-09Xingshan County Hydropower Specialty Company, Gudongkou Hydropower Station China Asia-Pacific Hubei Xingfa Chemicals Group Co. Ltd. (SHSE:600141) - -

266 33 10-Jul-09Power Station (Operating assets of Gudongkou Hydroelectric Plant) China Asia-Pacific Hubei Xingfa Chemicals Group Co Ltd China Asia-Pacific Electric Domestic

267 32 16-Feb-09Taiyuan Coal Gasification (Group) Co Ltd (Coal power plant and power distribution assets) China Asia-Pacific Taiyuan Coal Gasification Co Ltd China Asia-Pacific Electric Domestic

268 32 19-Aug-09 Sichuan Chuanhui Hydroelectric Investment Co Ltd China Asia-Pacific Guangxi Guiguan Electric Power Co Ltd - -269 32 10-Jul-09 Dafeng Sunshine Thermal Power Co Ltd China Asia-Pacific Jiangsu Sunshine Co Ltd China Asia-Pacific Electric Domestic270 31 27-Oct-09 Zero Emission People, LLC United States North America Wind Works Power Corp. (OTCBB:WWPW) - -271 31 22-May-09 Pasubio Servizi SrL Italy Europe Ascopiave SpA Italy Europe Gas Domestic

Page 5 of 15

Page 6: Power Deals 2009 All Deals

No.

Value of transaction

(US$m)Date announced

Target Name Target Nationality Target Location Acquirer name Acquirer Nationality Acquirer Location Sector Type

Power deals includes analysis of all global cross-border and domestic electricity, gas and renewable energy deal activity. It is the latest in our Power Deals annual series. This year, we have expanded the range of data sources to provide the fullest possible account of deal-making for renewable power assets. The analysis is based on published transactions from the Dealogic ‘M&A Global database’ for all electricity and gas deals. For renewables deals, we have supplemented this with analysis on published transactions from a variety of databases (John S Herold; Mergermarket; Capital IQ; Thomson as well as Dealogic). This enables consistency with our companion Renewables Deals publication which looks specifically at renewable energy M&A. Analysis encompasses announced deals, including those pending financial and legal closure, and those which are completed. Deal values are the consideration value announced or reported including any assumption of debt and liabilities. We have considered Asia Pacific as a region including Australasia, except where otherwise explicitly stated. All presented numbers of deals are inclusive of those deals with no reported value.

PricewaterhouseCoopers: Power Deals* 2009 Annual Review - Mergers and acquisitions activity within the global electricity and gas market - all published transactions

272 31 28-Jan-09 Helix Wind Inc United States North America Clearview Acquisitions Inc - -273 31 12-Feb-09 Sangam Power Generation Co Ltd India Asia-Pacific Jaiprakash Associates Ltd India Asia-Pacific Electric Domestic

274 30 20-Oct-09Guangdong Yudean Jinghai Power Generation Co Ltd (9.78%) China Asia-Pacific Guangdong Investment Ltd Hong Kong Asia-Pacific Electric Cross-border

275 30 24-Dec-09 Yunnan Nujiang Electric Network Co Ltd (39%) China Asia-Pacific Yunnan Nujiang Electric Network Co Ltd China Asia-Pacific Electric Domestic276 30 23-Dec-09 Power Station (Westinghouse 701 DU Turbine ) United States North America Undisclosed Acquiror United States North America Electric Domestic277 30 17-Feb-09 Invenergy Wind LLC (Stake%) United States North America Leaf Clean Energy Co - -278 30 03-Mar-09 eSolar Inc United States North America ACME Group - -279 30 10-Nov-09 Electrawinds NV/SA Belgium Europe FP Investeringsmaatschappij - -280 29 16-Jul-09 Undisclosed Brazil South America Stratus Group; Franklin/Templeton Funds - -281 29 02-Sep-09 HS Orka hf (32.32%) Iceland Europe Magma Energy Corp - -282 29 18-Aug-09 Atlantic Power Corp (Mid-Georgia Project) United States North America Sumitomo Corp Japan Asia-Pacific Electric Cross-border283 29 18-Aug-09 Northstar Generation (Mid-Georgia Project) United States North America Sumitomo Corp Japan Asia-Pacific Electric Cross-border284 29 14-May-09 Chernigivoblenergo VAT (25%) Ukraine Europe On-line Capital Ukraine Europe Electric Domestic285 29 07-Apr-09 Rostovoblgaz OAO (26.6%) Russian Federation FSU Rosneftegaz OAO Russian Federation FSU Gas Domestic286 28 04-May-09 TGC-14 OAO (27.69%) Russian Federation FSU Russian Railways OAO Russian Federation FSU Electric Domestic

287 28 02-Jul-09 Direct Energie Neoen SAS (Minority%) France EuropeLouis Dreyfus & Cie SA;Credit Agricole Private Equity SA - CAPE France Europe Electric Domestic

288 28 10-Jun-09 Aguaytia Energy LLC Peru South America Duke Energy Corp United States North America Gas Cross-border289 28 02-Mar-09 Prayagraj Power Generation Co Ltd India Asia-Pacific Jaiprakash Associates Ltd India Asia-Pacific Electric Domestic290 27 14-Oct-09 Shear Wind Inc (61.79%) Canada North America Inveravante Inversiones Universales, SL Spain Europe Electric Cross-border291 26 24-Jun-09 TGC-14 OAO (23.09%) Russian Federation FSU Russian Railways OAO Russian Federation FSU Electric Domestic292 26 27-Aug-09 Yantai Dongyuan Wind Power Group Co Ltd China Asia-Pacific Guangxi Guiguan Electric Power Co Ltd - -293 26 14-Oct-09 Shear Wind Inc Canada North America Genera Avante Hldg Canada Inc - -

294 26 13-Mar-09Guangdong Yudean Jinghai Power Generation Co Ltd (10%) China Asia-Pacific Guangdong Electric Power Development Co Ltd China Asia-Pacific Electric Domestic

295 25 27-Apr-09 Gevo Inc (undisclosed stake) United States North America Total SA - -296 25 03-Jul-09 Bioeton Kyritz GmbH (60.00% stake) Germany Europe Bioeton SA - -297 25 18-Sep-09 Cia Energetica de Minas Gerais (BOVESPA:CMIG4) Brazil South America Andrade Gutierrez Concessoes S.A - -298 25 09-Apr-09 TGK-6 OAO (15%) Russian Federation FSU Market Purchase Russian Federation FSU Electric Domestic299 25 29-Apr-09 LvivOblEnerho JSC (26.98%) Ukraine Europe TEKT Trade OOO Ukraine Europe Electric Domestic300 24 19-Nov-09 Xuzhou Huaxing Investment Co Ltd (18.04%) China Asia-Pacific China Resources Power Holdings Co Ltd China Asia-Pacific Electric Domestic301 24 30-Nov-09 Panjin Liaohe Futeng Thermal Power Co Ltd (48.86%) China Asia-Pacific Liaoning Huajin Tongda Chemicals Co Ltd China Asia-Pacific Electric Domestic

302 24 05-Mar-09Manzhou Lishen Energy Dalaihu Thermal Electricity Co Ltd (47.815%) China Asia-Pacific China Huaneng Group China Asia-Pacific Electric Domestic

303 23 30-Apr-09 Yeosu Cogeneration Corp (51%) South Korea Asia-Pacific Gunjang Cogeneration Corp South Korea Asia-Pacific Electric Domestic304 23 25-Nov-09 Schneider Power Inc Canada North America Quantum Fuel Systems Technologies Worldwide Inc United States North America Electric Cross-border305 23 05-Oct-09 9.2 MW new wind power project France Europe Boralex Inc - -

306 23 02-Feb-09Public Service Resources Corp (single-cycle, combustion-turbine generators ) United States North America Puget Energy Inc United States North America Electric Domestic

307 22 01-Jun-09EarthFirst Canada Inc (300-Megawatt Dokie Ridge Wind Project in Canada) Canada North America GE Energy Financial Services Inc - -

308 22 23-Apr-09 Algonquin Power Income Fund (9.90583%) Canada North America Emera Inc - -

309 22 28-Feb-09NewPage Wisconsin Systems Inc., Little Quinnesec Hydroelectric Facility United States North America Northbrook Energy, LLC - -

310 22 27-Mar-09Companhia Mineira De Acucar E Alcool Participacoes (Stake%) Brazil South America ZAM Venture Capital LP United States North America Electric Cross-border

311 21 18-May-09

China Petroleum Pipeline Urban Gas Investments Co Ltd (and relevant assets held by China Huayou Group Corp);Zhuozhou Huayou Gas Ltd;Zhoucheng Huayou Gas Co Ltd;Bazhou Huayou Gas Co Ltd;Hunan Huayou Natural Gas Transportation & Distribution Co Ltd;Yongqing Huayou Gas Co Ltd;Changde Huayou Gas Co Ltd;Hainan Huayou Ganghua Gas Co Ltd China Asia-Pacific PetroChina Co Ltd China Asia-Pacific Gas Domestic

312 21 26-Jun-09 Entek Elektrik Uretimi AS (13.33%) Turkey Europe Aygaz AS Turkey Europe Electric Domestic

313 21 12-Jun-09Jiangsu Sunshine Yunting Heat & Electricity Co Ltd (75%) China Asia-Pacific Jiangsu Sunshine Co Ltd China Asia-Pacific Electric Domestic

314 20 17-Dec-09 Power Generation Services Co Ltd (60%) Thailand Asia-PacificElectricity Generating pcl - EGCO (50% / 10%);Banpu pcl Thailand Asia-Pacific Electric Domestic

315 20 13-Jan-09 Ze-gen (Stake%) United States North America Investor Group United States North America Electric Domestic

316 20 18-Dec-09 Tioga Energy (Stake%) United States North America

NGEN Partners;MEMC Electronic Materials Inc;Draper Fisher Jurvetson;Nth Power United States North America Electric Domestic

317 20 15-May-09 Windfarm Märkisch- Linden GmbH & Co. KG Germany Europe SWB AG - -318 20 17-Sep-09 Beijing Jingfeng Gas Power Co Ltd (30%) China Asia-Pacific Beijing Energy Investment Holdings Co Ltd China Asia-Pacific Electric Domestic

319 20 22-May-09

Xinjiang Hetian County Hydroelectric Co Ltd (49%);Xinjiang Changyuan Water Industry Group Yili Local Power Co Ltd;Xinjiang Fuyun County Changyunxiakou Hydroelectric Development Co Ltd China Asia-Pacific Qianjiang Water Resources Development Co Ltd China Asia-Pacific Electric Domestic

Page 6 of 15

Page 7: Power Deals 2009 All Deals

No.

Value of transaction

(US$m)Date announced

Target Name Target Nationality Target Location Acquirer name Acquirer Nationality Acquirer Location Sector Type

Power deals includes analysis of all global cross-border and domestic electricity, gas and renewable energy deal activity. It is the latest in our Power Deals annual series. This year, we have expanded the range of data sources to provide the fullest possible account of deal-making for renewable power assets. The analysis is based on published transactions from the Dealogic ‘M&A Global database’ for all electricity and gas deals. For renewables deals, we have supplemented this with analysis on published transactions from a variety of databases (John S Herold; Mergermarket; Capital IQ; Thomson as well as Dealogic). This enables consistency with our companion Renewables Deals publication which looks specifically at renewable energy M&A. Analysis encompasses announced deals, including those pending financial and legal closure, and those which are completed. Deal values are the consideration value announced or reported including any assumption of debt and liabilities. We have considered Asia Pacific as a region including Australasia, except where otherwise explicitly stated. All presented numbers of deals are inclusive of those deals with no reported value.

PricewaterhouseCoopers: Power Deals* 2009 Annual Review - Mergers and acquisitions activity within the global electricity and gas market - all published transactions

320 20 09-Jun-09

Xinjiang Hetian County Hydroelectric Co Ltd (49%);Xinjiang Changyuan Water Industry Group Yili Local Power Co Ltd;Xinjiang Fuyun County Changyunxiakou Hydroelectric Development Co Ltd China Asia-Pacific Qianjiang Water Resources Development Co Ltd - -

321 20 26-Feb-09 Fotowatio Renewable Ventures, Inc. United States North America Fotowatio SL - -322 19 06-May-09 Guangxi Beiliu Gas Co Ltd (97.5%) China Asia-Pacific China Leason Investment Group Co Ltd China Asia-Pacific Gas Domestic

323 19 15-Jun-09North-West Interregional Distribution Grid Co OAO (6.192%) Russian Federation FSU Bank of New York Mellon Corp United States North America Electric Cross-border

324 19 03-Nov-09 OPC LLC United States North America Ormat Technologies Inc United States North America Electric Domestic325 19 03-Nov-09 OPC LLC United States North America Ormat Nevada Inc - -326 18 27-Jan-09 TGK-13 OAO (14.94%) Russian Federation FSU Siberian Coal Energy Co OAO - SUEK Russian Federation FSU Electric Domestic327 18 26-Nov-09 Municipality of Hoor (Power Grid in Hoor, Sweden) Sweden Europe Lunds Energi AB Sweden Europe Electric Domestic

328 18 28-Jul-09 SunRun Inc (Stake%) United States North AmericaAccel Partners Ltd;Foundation Capital LLC United States North America Electric Domestic

329 18 20-Feb-09 Beacon Power Corp (Stake%) United States North America Seaside 88 LP United States North America Electric Domestic

330 18 28-Sep-09Energias Renováveis S.A., Seven Windfarms in Northeastern Rio Grande do Norte Brazil South America CPFL Geracao de Energia S/A - -

331 17 23-Nov-09Guangzhou China Resources Thermal Power Co Ltd (30%) China Asia-Pacific China Resources Power Holdings Co Ltd China Asia-Pacific Electric Domestic

332 17 21-May-09 Wuxi Jiacheng Solar Energy Technology Co China Asia-Pacific ReneSola Ltd - -333 17 24-Jul-09 Shandong Huaju Energy Co Ltd (14.21%) China Asia-Pacific Yanzhou Coal Mining Co Ltd China Asia-Pacific Electric Domestic

334 17 21-Jul-09Babcock & Brown International Pty Ltd (Wind energy assets) Australia Australasia Babcock & Brown Wind Partners Ltd - BBWPL - -

335 16 31-Jul-09Power Station (PB117 diesel plant, Nasipit, Agusan del Norte) Palestinian Territory, Occupie Middle East Aboitiz Power Corp Philippines Asia-Pacific Electric Cross-border

336 16 15-Apr-09 Sabarmati Gas Ltd (49.86%) India Asia-Pacific

Infrastructure Development Finance Co Ltd - IDFC (16.62% / 16.62% / 16.62%);Unit Trust of India;Industrial Finance Corp of India Ltd - IFCI India Asia-Pacific Gas Domestic

337 16 07-May-09 Tula Distribution Co OAO (50.54%) Russian Federation FSU Foundation Heat & Power Inc Russian Federation FSU Electric Domestic338 15 25-Jun-09 United Power Corp SAOG (UPC) (32.81%) Oman Middle East MENA Infrastructure Fund United Arab Emirates Middle East Electric Cross-border339 15 06-Mar-09 Haven Power Ltd United Kingdom Europe Drax Group plc United Kingdom Europe Electric Domestic340 15 31-Mar-09 Huaneng Qidong Wind Power China Asia-Pacific Huaneng Power Intl Inc - -341 15 28-Aug-09 The Arava Power Company (40.00% stake) Israel Middle East Siemens Project Ventures GmbH - -

342 15 20-Apr-09 Grupo Enerpal (50.00% stake) Spain EuropeHofisa Corporacion Inmobiliaria, SL; Inbisa Grupo Empresarial Sociedad Limitada, SL - -

343 15 11-Sep-09 Ecostream Italy Srl Italy Europe Atlantis Capital fund - -344 15 13-May-09 SeaTech Energy Inc. United States North America FutureWorld Energy, Inc. (OTCPK:FWDG) - -

345 15 31-Jul-09Zespol Elektrocieplowni Wroclawskich Kogeneracja SA (3.68%) Poland Europe Market Purchase Poland Europe Electric Domestic

346 15 12-Nov-09Wujiang Luzhou Environmental Protection Thermoelectricity Co Ltd China Asia-Pacific Wujiang City Investment Development Co Ltd China Asia-Pacific Electric Domestic

347 15 26-Feb-09 SDIC Xuancheng Power Co Ltd (24%) China Asia-Pacific SDIC Xinji Energy Co Ltd China Asia-Pacific Electric Domestic348 14 07-Sep-09 Enerqos SpA (Stake%) Italy Europe Climate Change Capital Private Equity Ltd - -349 14 10-Nov-09 Mudanjiang Datong Gas Co Ltd China Asia-Pacific China Gas Holdings Ltd Hong Kong Asia-Pacific Gas Cross-border

350 14 04-Aug-09 Advanced Electron Beams (Stake%) United States North America

Flagship Ventures;Agman Partners;GE Energy Financial Services Inc;Atlas Venture;Rockport Capital Partners;General Catalyst Partners United States North America Electric Domestic

351 14 19-Oct-09 Pingle Guijiang Electric Co Ltd (17.5%) China Asia-Pacific Guangxi Guidong Electric Power Co Ltd China Asia-Pacific Electric Domestic352 14 Pingle Guijiang Electric Co Ltd (17.5%) China Asia-Pacific Guangxi Guidong Electric Power Co Ltd - -353 14 31-May-09 Solarfi SAS (Stake%) France Europe Samfi Invest France Europe Electric Domestic

354 14 18-Jul-09Centrales Electricas del Norte de Santander SA ESP (12.54%) Colombia South America Empresas Publicas de Medellin Colombia South America Electric Domestic

355 14 31-Jul-09Power Station (PB118 diesel plant, Maco, Compostela Valley) Palestinian Territory, Occupie Middle East Aboitiz Power Corp Philippines Asia-Pacific Electric Cross-border

356 14 08-Dec-09 United States of America (two power turbines) United States North America Electrica de Guayaquil Guatemala South America Electric Cross-border357 14 19-Oct-09 Zhaoping Guihai Power Co Ltd (31.62%) China Asia-Pacific Guangxi Guidong Electric Power Co Ltd China Asia-Pacific Electric Domestic

358 14 06-May-09

Power Sector Assets & Liabilities Management Corp - PSALM Corp (620MW Limay Combine Cycle Power Plant) Philippines Asia-Pacific San Miguel Corp Philippines Asia-Pacific Electric Domestic

359 13 14-Dec-09 Danotek Motion Technologies (Stake%) United States North America

Khosla Ventures;CMEA Ventures;StatoilHydro Ventures;GE Energy Financial Services Inc United States North America Electric Domestic

360 13 16-Mar-09 CLP-CWP Wind Power Invest Ltd China Asia-Pacific CLP Power China(Northeast)Ltd - -

361 13 02-Apr-09Empresa Cochabambina de Gas SAM - Emcogas (gas distribution business) Bolivia South America Yacimietos Petroliferos Fiscales Bolivianos-YPFB Bolivia South America Gas Domestic

362 13 29-Sep-09 Berenis Solar 5 SL Spain Europe Rooftops of Spain - -

363 12 11-Sep-09Roskommunenergo OAO (19.97%);Arkhangelsk Retail Co OAO Russian Federation FSU Vologodskaya Sbytovaya Kompaniya OAO Russian Federation FSU Electric Domestic

364 12 01-Jul-09 Iberoamericana de Energia IBENER SA (5.26%) Chile South America Compania General de Electricidad SA Chile South America Electric Domestic365 12 13-Nov-09 Solar Utility S.p.A. (50.00% stake) Italy Europe Pirelli & C. Ambiente S.p.A - -366 12 03-Jun-09 Arco Energy srl Italy Europe Premier Power Renewable Energy, Inc. (OTCBB:PPRW) - -367 12 04-Aug-09 Beijing Enterprises Ever Source Energy Ltd (6.33%) China Asia-Pacific China Ground Source Energy Ltd China Asia-Pacific Electric Domestic368 12 22-Jul-09 Guizhou Beiyuan Electricity Co Ltd (40%) China Asia-Pacific China Huadian Corp China Asia-Pacific Electric Domestic

Page 7 of 15

Page 8: Power Deals 2009 All Deals

No.

Value of transaction

(US$m)Date announced

Target Name Target Nationality Target Location Acquirer name Acquirer Nationality Acquirer Location Sector Type

Power deals includes analysis of all global cross-border and domestic electricity, gas and renewable energy deal activity. It is the latest in our Power Deals annual series. This year, we have expanded the range of data sources to provide the fullest possible account of deal-making for renewable power assets. The analysis is based on published transactions from the Dealogic ‘M&A Global database’ for all electricity and gas deals. For renewables deals, we have supplemented this with analysis on published transactions from a variety of databases (John S Herold; Mergermarket; Capital IQ; Thomson as well as Dealogic). This enables consistency with our companion Renewables Deals publication which looks specifically at renewable energy M&A. Analysis encompasses announced deals, including those pending financial and legal closure, and those which are completed. Deal values are the consideration value announced or reported including any assumption of debt and liabilities. We have considered Asia Pacific as a region including Australasia, except where otherwise explicitly stated. All presented numbers of deals are inclusive of those deals with no reported value.

PricewaterhouseCoopers: Power Deals* 2009 Annual Review - Mergers and acquisitions activity within the global electricity and gas market - all published transactions

369 12 22-Jul-09 Guizhou Beiyuan Electricity Co Ltd (40%) China Asia-Pacific China Huadian Corp - -

370 12 14-Apr-09 CoaLogix Inc (Stake%) United States North AmericaEnerTech Capital Partners;Acorn Energy Inc United States North America Electric Domestic

371 11 25-Nov-09 Staffanstorps Energi AB (50%) Sweden Europe Municipality of Staffanstorp Sweden Europe Electric Domestic372 11 28-Jul-09 Udmurt Energy Retail Co OAO (65.26%) Russian Federation FSU Integrated Energy Systems ZAO - IES Holding Russian Federation FSU Electric Domestic373 11 12-Jan-09 Alinta EATM Pty Ltd Australia Australasia Aurora Energy Ltd New Zealand Australasia Gas Cross-border374 11 23-Dec-09 Solar Power Company Limited Thailand Asia-Pacific Steel Intertech Public Company Limited (SET:STEEL-R) - -375 10 19-Jun-09 Parque Eólico Penha da Gardunha, Lda. Portugal Europe Martifer Renewables SGPS - -

376 10 16-Sep-09Power Station (Ecociclo II Energia gas turbine cogeneration facility) Portugal Europe Sonae Capital Portugal Europe Electric Domestic

377 10 24-Jun-09 Eco-Wind Construction SA (31.36%) Poland Europe Grupo Comsa SA - -378 10 29-May-09 Island Power Holdings Pte Ltd Singapore Asia-Pacific GMR Infrastructure Ltd India Asia-Pacific Electric Cross-border379 10 25-Nov-09 Zhaoheng Hydropower Ltd. (OTCBB:ZHYL.F) China Asia-Pacific Olympus Capital Asia Mauritius, Ltd.; AEP China Hydro Ltd. - -380 10 28-Jul-09 Encimadas and Canaveral Hydroelectric Projects Colombia South America Idea - -381 10 12-Jan-09 Hubei Hongping Power Generation Co., Ltd. China Asia-Pacific Shenzhen Zhaoheng Hydropower Co., Ltd. - -382 10 12-Oct-09 Gortahile Wind Farm Ireland Europe Abo Wind Aktiengeselischaft - -

383 10 27-Oct-09 China Technology Solar Power Holdings Limited China Asia-PacificChina Technology Development Group Corporation (NasdaqCM:CTDC) - -

384 10 02-Dec-09 Khakasenergosbyt OAO (40.05%) Russian Federation FSU Vologodskaya Sbytovaya Kompaniya OAO Russian Federation FSU Electric Domestic385 10 16-Oct-09 ESB Contracts Ltd United Kingdom Europe Scottish & Southern Energy plc United Kingdom Europe Electric Domestic386 10 07-Sep-09 Nanjing Yulian Natural Gas Filling Co Ltd (70%) China Asia-Pacific Zhongyu Gas Holdings Ltd Hong Kong Asia-Pacific Gas Cross-border

387 9 18-Sep-09Hunan Hongjiang Yuanshui Anjiang Hydropower Plant Development Co Ltd (72.79%) China Asia-Pacific Guangdong No.2 Hydropower Engineering Co Ltd - -

388 9 17-Jul-09 Lanco Amarkantak Power Pvt Ltd (9.8%) India Asia-Pacific Lanco Infratech Ltd India Asia-Pacific Electric Domestic389 9 29-Apr-09 Shandong Gaomi Gaoyuan Thermoelectric Co Ltd China Asia-Pacific Sunvim Group Co Ltd China Asia-Pacific Electric Domestic390 9 05-Feb-09 KVK Nilachal Power Ltd (25.5%) India Asia-Pacific KVK Energy & Infrastructure Pvt Ltd India Asia-Pacific Electric Domestic391 9 29-Oct-09 Zhongtian Hechuang Energy Co Ltd (6.18%) China Asia-Pacific Shenergy Co Ltd China Asia-Pacific Electric Domestic

392 9 28-Oct-09Guangdong Mingyang Wind Power Technology Co Ltd (Stake%) China Asia-Pacific DT Ventures - -

393 9 02-Sep-09Usaciga Acucar Alcool e Energia Electrica SA (49.00% stake) Brazil South America Agrocana Participacoes - -

394 9 30-Jul-09Elmwood Park Power LLC; RPL Holding Inc (Massena Power Plant) United States North America Morris Energy Group Development Company LLC - -

395 9 01-Apr-09 Euro Green Energy Fejleszto es Szolgaltato Kft Hungary Europe Raiffeisen Energy Service Ltd - -396 9 07-May-09 Northeast Biofuels LLC United States North America Sunoco Inc. (NYSE:SUN) - -

397 9 29-Apr-09 Tangshan Sanyou Thermal Electricity Co Ltd (17.12%) China Asia-Pacific Tangshan Sanyou Chemical Industries Co Ltd China Asia-Pacific Electric Domestic398 9 18-May-09 Chelyabenergosbyt OAO (21.75%) Russian Federation FSU Mountain Engineering Investments Ltd Russian Federation FSU Electric Domestic399 9 18-May-09 Chelyabenergosbyt OAO (21.75%) Russian Federation FSU Polar Star Resources Ltd Russian Federation FSU Electric Domestic400 9 18-May-09 Chelyabenergosbyt OAO (21.75%) Russian Federation FSU Valid Assets Ltd Russian Federation FSU Electric Domestic401 9 03-Mar-09 Donetskoblenergo OAO (9.31%) Ukraine Europe System Capital Management Ltd - SCM Ukraine Europe Electric Domestic402 8 19-May-09 KES-Multienergetika ZAO Russian Federation FSU Perm Energy Retail Co OAO - Permskaya ESK Russian Federation FSU Electric Domestic403 8 24-Jan-09 Bionor Transformación, S.A. Spain Europe Cie Automotive Bioenergia SL - -404 8 25-Jun-09 Mei County Jieyuan Hydropower Co Ltd China Asia-Pacific Mei County Kedou Industry Co Ltd - -

405 8 30-Jul-09 Tangshan Sanyou Thermal Electricity Co Ltd (13.55%) China Asia-Pacific Tangshan Sanyou Chemical Industries Co Ltd China Asia-Pacific Electric Domestic406 8 17-Feb-09 Undisclosed China Asia-Pacific Suntech Power Holdings Co Ltd - -407 8 04-Nov-09 RilaGas AD (48%) Bulgaria Europe Acegas-APS SpA Italy Europe Gas Cross-border408 8 28-May-09 Houay Ho Thai Co Ltd (51%) Laos Asia-Pacific Hemaraj Land & Development pcl - -409 8 28-May-09 WKN Polska Sp. Z.o.o. Poland Europe DONG Energy AS - -

410 7 18-Aug-09Beijing Tianyuan Science & Technology Creation Wind Power Technology Co Ltd (44.44%) China Asia-Pacific Xinjiang Goldwind Science & Technology Co Ltd - -

411 7 29-Apr-09The Marketplace Company Ltd - M-co (Energy and related assets) New Zealand Australasia NZX Ltd New Zealand Australasia Electric Domestic

412 7 20-Nov-09 Ridgewood Maine Hydro Partners, L.P. United States North America Kruger Energy, Inc. - -

413 7 14-Sep-09 Mecamidi SA (Minority%) France Europe

Fonds Strategique d'Investissement - FSI;Midi Capital SAS;CDC Entreprises Capital France Europe Electric Domestic

414 7 18-Jun-09Transfield Services, Barn Hill Wind Farm Development Project & Crows Nest Wind Farm Development Site Australia Australasia AGL Energy Limited (ASX:AGK) - -

415 7 31-Aug-09 Elettrostudio Energia Srl (27%) Italy Europe Credit Agricole Private Equity SA - CAPE France Europe Electric Cross-border416 7 25-Nov-09 Kaluzhskaya Sbytovaya Kompaniya OAO (24.89%) Russian Federation FSU Kaluga City Energy Co OAO Russian Federation FSU Electric Domestic

417 7 09-Mar-09 Fengjie County Kangle Electric Power Co Ltd (22.12%) China Asia-Pacific Fengjie State-owned Assets Operation & Management Co ltd China Asia-Pacific Electric Domestic

418 7 12-May-09Hanshan Wanneng Biomass Power Generation Co Ltd (77.5%) China Asia-Pacific A-Power Energy Generation Systems Ltd China Asia-Pacific Electric Domestic

419 7 12-May-09Hanshan Wanneng Biomass Power Generation Co Ltd (77.5%) China Asia-Pacific A-Power Energy Generation Systems Ltd - -

420 7 10-Aug-09 Eco Green Solutions LLC Brazil South America Undisclosed - -

421 7 13-Aug-09Renewable Wind and Wave Energy Projects in India and Israel India Asia-Pacific Seakinetics Corporation (DB:M90) - -

422 6 17-Jul-09Shantou Electric Power Development Co Ltd No 1 Thermal Power Plant (49%) China Asia-Pacific Shantou Electric Power Development Co Ltd China Asia-Pacific Electric Domestic

423 6 20-Nov-09 Ridgewood US Hydro Corporation United States North America Kruger Energy, Inc. - -424 6 22-Jul-09 Caribbean Utilities Co Ltd (2.74%) Cayman Islands North America Fortis Inc Canada North America Electric Cross-border425 6 13-Feb-09 Energeia Srl Italy Europe Estra Energia Servizi Territorio Ambiente Srl Italy Europe Gas Domestic426 6 02-Feb-09 Western GeoPower Corp Canada North America Birmingham Ltd - -427 6 17-Nov-09 Fortune Liulin Gas Co Ltd (26.1%) China Asia-Pacific Fortune Oil plc United Kingdom Europe Gas Cross-border

Page 8 of 15

Page 9: Power Deals 2009 All Deals

No.

Value of transaction

(US$m)Date announced

Target Name Target Nationality Target Location Acquirer name Acquirer Nationality Acquirer Location Sector Type

Power deals includes analysis of all global cross-border and domestic electricity, gas and renewable energy deal activity. It is the latest in our Power Deals annual series. This year, we have expanded the range of data sources to provide the fullest possible account of deal-making for renewable power assets. The analysis is based on published transactions from the Dealogic ‘M&A Global database’ for all electricity and gas deals. For renewables deals, we have supplemented this with analysis on published transactions from a variety of databases (John S Herold; Mergermarket; Capital IQ; Thomson as well as Dealogic). This enables consistency with our companion Renewables Deals publication which looks specifically at renewable energy M&A. Analysis encompasses announced deals, including those pending financial and legal closure, and those which are completed. Deal values are the consideration value announced or reported including any assumption of debt and liabilities. We have considered Asia Pacific as a region including Australasia, except where otherwise explicitly stated. All presented numbers of deals are inclusive of those deals with no reported value.

PricewaterhouseCoopers: Power Deals* 2009 Annual Review - Mergers and acquisitions activity within the global electricity and gas market - all published transactions

428 6 05-May-09 Powerit Solutions (Stake%) United States North America

Siemens Venture Capital Inc;@Ventures;ArcelorMittal SA;Expansion Capital Partners LLC United States North America Electric Domestic

429 6 20-Mar-09 Malpensa Energia SpA (49%) Italy Europe SEA SpA Italy Europe Electric Domestic430 6 21-Sep-09 Teleserv SA Brazil South America Acom Comunicacoes SA Brazil South America Electric Domestic

431 6 30-Sep-09Xianfeng County Jingfeng Hydroelectric Development Co (51%) China Asia-Pacific Guodian Changyuan Electric Power Co Ltd - -

432 6 17-Sep-09 Beijing Jingfeng Thermal Power Co Ltd (30%) China Asia-Pacific Beijing Energy Investment Holdings Co Ltd China Asia-Pacific Electric Domestic433 6 12-Feb-09 Telogia Power LLC United States North America Multitrade Telogia LLC - -434 6 07-Sep-09 Jianghe Long Chuan Electricity Development (5%) China Asia-Pacific China Water Affairs Group Ltd - -

435 6 08-Jun-09Shenyang Huifeng Bio-energy Development Co Ltd (48%) China Asia-Pacific

China Boqi Environmental Solutions Technology (Holding) Co Ltd - -

436 6 28-Jul-09 Kirovenergosbyt OAO (66.2%) Russian Federation FSU Basly Management Ltd Russian Federation FSU Electric Domestic437 6 14-Sep-09 Compañía Hidroeléctrica Coca Codo Sinclair S.A. Ecuador South America Termopichincha SA - -438 5 26-Oct-09 Xinfeng Xinyuan Hydropower Co Ltd (80%) China Asia-Pacific Guangdong No.2 Hydropower Engineering Co Ltd - -439 5 19-Aug-09 Cleantech America LLC United States North America Meridian Energy Ltd - -440 5 02-Jun-09 Babcock & Brown Power (10.6347%) Australia Australasia Guinness Peat Group plc United Kingdom Europe Electric Cross-border441 5 11-Aug-09 etrion SA Switzerland Europe Etrion Corporation (TSX:PFC) - -442 5 30-Jan-09 Western GeoPower Corp Canada North America Amalgamated Intl Hldg SA - -

443 5 29-Jun-09BP plc (Solar manufacturing facility at Sydney Olympic Park) Australia Australasia Silex Systems Ltd - -

444 5 13-May-09 CWIG Diaobingshan Windpower Co China Asia-Pacific Wide Success Intl Enterprise - -

445 5 05-May-09Perm Energy Retail Co OAO - Permskaya ESK (15.83%) Russian Federation FSU Inguri Management Ltd Russian Federation FSU Electric Domestic

446 5 09-Sep-09 Western Geopower Corp Canada North America GTO Resources Inc - -447 5 27-Mar-09 Polaris Geothermal Inc Canada North America Treevil Holdings Inc - -448 5 03-Jul-09 Shanghai Electric Power & Fuel Co Ltd (40.518%) China Asia-Pacific Shanghai Electric Power Co Ltd China Asia-Pacific Electric Domestic449 5 11-Jun-09 Kuzbassgazifikatsiya OAO (78.4%) Russian Federation FSU Rosneftegaz OAO Russian Federation FSU Gas Domestic

450 5 11-Oct-09 Morgan Solar Inc (Stake%) Canada North America

Turnstone Capital Management LLC;Iberdrola SA;Nypro Inc - -

451 5 28-Jul-09 Orisol Corp Energetica SA Spain Europe BP Solar Espana SAU - -452 5 16-Jan-09 Power Station (Wind generator/ Sweden) Sweden Europe AB Sigtunahem - -

453 5 30-Sep-09Zero Carbon Wind Energy Corp, USA West Coast Projects United States North America Pavilion Energy Resources, Inc. (OTCPK:PVRE) - -

454 4 05-Feb-09 Nizhegorodoblgaz OAO (25.54%) Russian Federation FSU Rosneftegaz OAO Russian Federation FSU Gas Domestic

455 4 09-Mar-09 Fengjie County Kangle Electric Power Co Ltd (26.89%) China Asia-PacificChongqing Three Gorges Water Conservancy & Electric Power Co Ltd China Asia-Pacific Electric Domestic

456 4 18-Aug-09 CWIG Xi'an Wind Power Facilities Co Ltd (10%) China Asia-Pacific China Three Gorges Project Corp China Asia-Pacific Electric Domestic457 4 18-Aug-09 CWIG Xi'an Wind Power Facilities Co Ltd (10%) China Asia-Pacific China Three Gorges Project Corp - -

458 4 12-Feb-09MMC Energy Inc (General Electric LM2500(r) Turbine & Certain Related Power Generating Equipment) United States North America Pro Energy Services Inc United States North America Electric Domestic

459 4 11-Mar-09 Landkom International plc (8.4%) Ukraine Europe Hunter Hall Investment Management Ltd - -460 4 28-Aug-09 Zhenjiang China Resources Gas Co Ltd (6%) China Asia-Pacific China Resources Gas Group Ltd China Asia-Pacific Gas Domestic461 4 25-Jun-09 Gradient Energy Ltd Australia Australasia Planet Gas Ltd - -462 4 20-May-09 Miro Radici Energia Srl (48.05%) Italy Europe Kinexia SpA Italy Europe Electric Domestic463 4 23-Jun-09 Malipo County Runhong Hydropower Co., Ltd. China Asia-Pacific Shenzhen Zhaoheng Hydropower Co., Ltd. - -

464 4 17-Sep-09Tomskaya Energosbytovaya Co OAO - Tomskaya ESK (75%) Russian Federation FSU E4 Group OAO Russian Federation FSU Electric Domestic

465 4 16-Jan-09 Stavropolenergostyt OAO (24%) Russian Federation FSU Vozrozhdeniye Bank OAO Russian Federation FSU Electric Domestic466 4 31-Aug-09 Kazenergoresource TOO (76%) Kazakhstan Asia-Pacific Inter RAO EES OAO Russian Federation FSU Electric Cross-border467 3 04-May-09 Golden State (Baotou) Renewable Energy Co Ltd China Asia-Pacific Guizhou Liyuan Hydraulic Co Ltd China Asia-Pacific Electric Domestic468 3 01-Apr-09 Asia Clean Energy Pte Ltd (Stake%) China Asia-Pacific Undisclosed Acquiror - -469 3 29-Jan-09 Kreido Biofuels Inc United States North America 4Rivers BioEnergy Inc - -470 3 16-Mar-09 BiEAG Biomasse Energie AG Switzerland Europe CKW - -

471 3 10-Feb-09Wuhan Shiyuan Thermal Power Co Ltd (Land use rights, buildings and other infrastructure) China Asia-Pacific ecoWise Holdings Ltd Singapore Asia-Pacific Electric Cross-border

472 3 03-Nov-09Ganzi Kanding Hualong Hydro Power Investment Development Co Ltd (46%) China Asia-Pacific Sichuan Mingxing Electric Power Co Ltd - -

473 3 25-May-09Power Station (Wind turbine in the wind farm Bliekevare/ Sweden) Sweden Europe Dorotea kommun - -

474 3 04-Mar-09 Astrakhan Energy Retail Co OAO (48.66%) Russian Federation FSU South Generation Co TGC-8 OAO Russian Federation FSU Electric Domestic475 3 23-Nov-09 Guizhou Qianyuan Yinzidu Power Co Ltd (5%) China Asia-Pacific Guizhou Qianyuan Power Co Ltd China Asia-Pacific Electric Domestic476 3 16-Apr-09 Rollcast Energy Inc (Stake%) United States North America Atlantic Power Corp - -477 3 06-Aug-09 Biodiesel Plant In Atascosa County United States North America National Wind Solutions, Inc. (OTCPK:NWND) - -478 3 26-May-09 Hong Kong Biomass Energy (BVI) Co Ltd (55%) China Asia-Pacific GeneHarbour (Hong Kong) Technologies Ltd - -479 3 12-Oct-09 Maju Intan Biomass Energy Malaysia Asia-Pacific Colben System Pte Ltd - -480 3 23-Jun-09 Wenshan Huayi Energy Co., Ltd. China Asia-Pacific Shenzhen Zhaoheng Hydropower Co., Ltd. - -481 3 05-May-09 Perm Energy Retail Co OAO - Permskaya ESK (9.4%) Russian Federation FSU Private Investor (Andrey Kitashev) Russian Federation FSU Electric Domestic482 3 06-Aug-09 Gamar GHL Limited Liability Company Poland Europe Renewable Energy Holdings Plc (AIM:REH) - -483 3 17-Apr-09 Power Station (Bataan Thermal Power Plant) Philippines Asia-Pacific Rubenori Inc Philippines Asia-Pacific Electric Domestic484 3 17-Mar-09 Elebras Projects Ltda. Brazil South America EDP Renovaveis Brasil SA - -485 3 21-Aug-09 GEI Power Ltd (82.17%) India Asia-Pacific GEI Industrial Systems Ltd India Asia-Pacific Electric Domestic486 3 14-Dec-09 Energosbyt OAO Russian Federation FSU Ivanovskaya Energy Retail Co OAO Russian Federation FSU Electric Domestic487 3 08-Jan-09 Western Geopower Corp (8.21%) Canada North America Rule Family Trust - -488 3 10-Apr-09 Jingrong Industrial Development Co., Ltd. China Asia-Pacific Shenzhen Zhaoheng Hydropower Co., Ltd. - -489 3 02-Jun-09 EnerG2 (Stake%) United States North America Investors United States North America Electric Domestic490 2 07-May-09 Eco-Energy China Group China Asia-Pacific Cathay Forest Products Corp. (TSXV:CFZ) - -

Page 9 of 15

Page 10: Power Deals 2009 All Deals

No.

Value of transaction

(US$m)Date announced

Target Name Target Nationality Target Location Acquirer name Acquirer Nationality Acquirer Location Sector Type

Power deals includes analysis of all global cross-border and domestic electricity, gas and renewable energy deal activity. It is the latest in our Power Deals annual series. This year, we have expanded the range of data sources to provide the fullest possible account of deal-making for renewable power assets. The analysis is based on published transactions from the Dealogic ‘M&A Global database’ for all electricity and gas deals. For renewables deals, we have supplemented this with analysis on published transactions from a variety of databases (John S Herold; Mergermarket; Capital IQ; Thomson as well as Dealogic). This enables consistency with our companion Renewables Deals publication which looks specifically at renewable energy M&A. Analysis encompasses announced deals, including those pending financial and legal closure, and those which are completed. Deal values are the consideration value announced or reported including any assumption of debt and liabilities. We have considered Asia Pacific as a region including Australasia, except where otherwise explicitly stated. All presented numbers of deals are inclusive of those deals with no reported value.

PricewaterhouseCoopers: Power Deals* 2009 Annual Review - Mergers and acquisitions activity within the global electricity and gas market - all published transactions

491 2 21-Dec-09 Zhanhua Jiutai Gas Co Ltd China Asia-Pacific China New Energy Group Co China Asia-Pacific Gas Domestic492 2 17-Jul-09 Homeland Energy Group Ltd (5.21%) Canada North America GMR Holdings Pvt Ltd India Asia-Pacific Electric Cross-border

493 2 31-Jul-09Shenhua Guohua (Beijing) Electricity Institute Co Ltd (16%) China Asia-Pacific China Shenhua Energy Co Ltd China Asia-Pacific Electric Domestic

494 2 09-Mar-09 Fengjie County Kangle Electric Power Co Ltd (14.98%) China Asia-PacificChongqing Three Gorges Water Conservancy & Electric Power Co Ltd China Asia-Pacific Electric Domestic

495 2 02-Oct-09 Geotherm OAO (8.2311%) Russian Federation FSU RusHydro OAO Russian Federation FSU Electric Domestic496 2 02-Jun-09 Hybridine Pwer Systems Canada Inc Canada North America Atlantic Wind & Solar Inc - -497 2 09-Oct-09 Ninh Binh Thermal Power JSC (7.77303%) Vietnam Asia-Pacific SSI Asset Management Co Vietnam Asia-Pacific Electric Domestic

498 2 17-Aug-09Novgorod Energy Retail Co OAO - Novgorodskaya ESK (71.7%) Russian Federation FSU

Mossblown Ltd (23.7%/23.7%/23.7%);Colmonell Enterprises Ltd;Tarbolton Holdings Ltd Russian Federation FSU Electric Domestic

499 2 22-May-09Kingiseppskaya Gorodskaya Elektricheskaya Set - KGES OAO (74.9986%) Russian Federation FSU City Broker OOO Russian Federation FSU Electric Domestic

500 2 17-Nov-09 Asia Power (Leibo) Hydroelectricity Co. Ltd. China Asia-Pacific - - -501 2 12-Oct-09 IPSA Group plc (5.263%) South Africa Africa Independent Power Corp plc United Kingdom Europe Electric Cross-border502 2 08-May-09 Energosbyt Rostovenergo OAO (20.89%) Russian Federation FSU Prasino Enterprises Ltd Russian Federation FSU Electric Domestic503 2 26-May-09 Kozep-Europai Gazterminal Nyrt - KEG (9.25%) Hungary Europe Market Purchase Hungary Europe Gas Domestic504 2 19-Oct-09 Skyway 126 Wind Energy Inc. Canada North America Wind Works Power Corp. (OTCBB:WWPW) - -

505 2 16-Apr-09Novera Energy Plc, East London Sustainable Energy Facility UK Europe Biossence Ltd. - -

506 2 07-Jan-09 Qinhuangdao Chensheng Gas Co Ltd (51%) China Asia-Pacific China New Energy Group Co China Asia-Pacific Gas Domestic507 2 04-Dec-09 Homeland Energy Group Ltd (9.1%) Canada North America GMR Energy Ltd India Asia-Pacific Electric Cross-border508 2 05-Mar-09 Park Wiatrowy Tychowo Sp z oo Poland Europe RWE AG - -509 2 21-Oct-09 Country Energy(Pvt)Ltd Sri Lanka Asia-Pacific Vallibel Power Erathna PLC - -510 2 10-Feb-09 Nizhegorodskaya Sbytovaya Co OAO (14.87%) Russian Federation FSU Businessaliens ZAO Russian Federation FSU Electric Domestic511 2 12-Oct-09 Enlight Renewable Energy Ltd Israel Middle East Sahar Investments Ltd. (TASE:SAIN-L) - -512 2 23-Feb-09 Acro Electric Inc Canada North America Lonestar Capital Corp - -513 2 22-Jul-09 Guizhou Xiyuan Power Co Ltd (21%) China Asia-Pacific China Huadian Corp China Asia-Pacific Electric Domestic514 2 30-Jun-09 Samaraenergo OAO (12.24%) Russian Federation FSU Telefunds Investments Ltd Russian Federation FSU Electric Domestic515 2 17-Aug-09 Energy Efficiency Solar Inc United States North America Acro Energy Technologies Corp Canada North America Electric Cross-border

516 2 18-Nov-09Renewable Power & Light plc, Mothballed Biodiesel Facility UK Europe - - -

517 1 05-Aug-09 Asia Power (Leibo) Hydroelectricity Co. Ltd. China Asia-Pacific Asia Hydro Power Investment Pte Ltd. - -

518 1 31-Dec-09Chongqing Mingyu Power Transmission & Transformation Co China Asia-Pacific Chongqing Fuling Electric Power Industrial Co Ltd China Asia-Pacific Electric Domestic

519 1 25-Feb-09 Zhejiang Hengkun Power Technology Co Ltd (20%) China Asia-Pacific Shenzhen Changyuan Group Co Ltd China Asia-Pacific Electric Domestic

520 1 11-Aug-09Petrovietnam Gas City Investment & Development Joint Stock Co (17%) Vietnam Asia-Pacific Vietnam Oil & Gas Corp (Petrovietnam) Vietnam Asia-Pacific Gas Domestic

521 1 23-Oct-09 Bengbu Tushan Thermal Electric Co Ltd (1.8%) China Asia-Pacific Anhui BBCA Biochemical Co Ltd China Asia-Pacific Electric Domestic522 1 08-Jul-09 Serravalle Energia Srl (33%) Italy Europe IKF SpA - -523 1 24-Aug-09 Baotou Baiyun Huiquan Wind Power Co Ltd China Asia-Pacific Inner Mongolia Mengdian Huaneng Thermal Power Co Ltd - -524 1 30-Sep-09 Udmurt Energy Retail Co OAO (11.3%) Russian Federation FSU Basly Management Ltd Russian Federation FSU Electric Domestic525 1 13-Feb-09 Energosbyt Rostovenergo OAO (24.9%) Russian Federation FSU Visoro BV Russian Federation FSU Electric Domestic526 1 18-Aug-09 Chita Energy Retail Co OAO (37.81%) Russian Federation FSU E4 Group OAO Russian Federation FSU Electric Domestic527 1 11-May-09 Tianjin Binhai Gas Ltd (30.55%) China Asia-Pacific Tianjin Tianlian Public Utilities Co Ltd China Asia-Pacific Gas Domestic

528 1 21-Apr-09Hebei Jointo Renqiu Heat & Electricity Co Ltd (26.994%) China Asia-Pacific Hebei Jointo Energy Investment Co Ltd China Asia-Pacific Electric Domestic

529 1 04-Sep-09 Est Wind Power OU Estonia Europe Fersa Energias Renovables SA - -530 1 14-Sep-09 Wasabi Energy Ltd (12.94%) Australia Australasia Market Purchase Australia Australasia Electric Domestic531 1 18-Nov-09 Power Station (2 solar energy projects) Greece Europe Minoan Group plc - -

532 1 09-Jul-09Tomskaya Energosbytovaya Co OAO - Tomskaya ESK (21.72%) Russian Federation FSU E4 Group OAO Russian Federation FSU Electric Domestic

533 1 09-Oct-09Vladimir Energy Retail Co OAO - Vladimirenergosbyt (19.7269%) Russian Federation FSU Private Investor (Aleksandr Filippov) Russian Federation FSU Electric Domestic

534 1 09-Jul-09 Samaraenergo OAO (9.23%) Russian Federation FSU Saratovenergo OAO Russian Federation FSU Electric Domestic535 1 18-Jun-09 Orlovskaya Retail Co OAO- Orelenergosbyt (21.53%) Russian Federation FSU Market Purchase Russian Federation FSU Electric Domestic

536 1 13-Apr-09Mass Megawatts Wind Power Inc., 550 kW Wind Power Project United States North America Electric City Wind Power Corporation - -

537 1 23-Oct-09 Lishui Tianjian Electricity Industrial Co Ltd (15%) China Asia-PacificPrivate Investor (Lishui Tianjian Electricity Industrial Co Ltd's current shareholders) China Asia-Pacific Electric Domestic

538 1 14-May-09 Kuban Energy Retail Co OAO (24.5%) Russian Federation FSU Prasino Enterprises Ltd Russian Federation FSU Electric Domestic

539 1 03-Aug-09Kuban Energy Retail Co OAO - Kubanenergosbyt (24.5%) Russian Federation FSU Valuest Investments Ltd Russian Federation FSU Electric Domestic

540 1 09-Sep-09 Chita Energy Retail Co OAO (34.35%) Russian Federation FSU E4 Group OAO Russian Federation FSU Electric Domestic541 1 14-Dec-09 6 New Wind Energy Projects In Ontario Canada North America Wind Works Power Corp. (OTCBB:WWPW) - -542 1 08-Jun-09 Orlovskaya Retail Co OAO- Orelenergosbyt (20.12%) Russian Federation FSU Kevalda Holding Ltd Russian Federation FSU Electric Domestic543 1 08-Jun-09 Orlovskaya Retail Co OAO- Orelenergosbyt (20.12%) Russian Federation FSU Lemur Holding SA Russian Federation FSU Electric Domestic544 1 08-Jun-09 Orlovskaya Retail Co OAO- Orelenergosbyt (20.12%) Russian Federation FSU Obymen Lake Holdings Ltd Russian Federation FSU Electric Domestic545 1 09-Sep-09 Buryatenergosbyt OAO (49.99%) Russian Federation FSU E4 Group OAO Russian Federation FSU Electric Domestic546 1 04-Nov-09 Power Station (Wind farm in Zielona, Poland) Poland Europe Investment Friends Energy SA - -547 1 16-Mar-09 Penza Energy Retail Co OAO (25%) Russian Federation FSU Energostrim Russian Federation FSU Electric Domestic548 1 12-Dec-09 Arkhangelsk Retail Co OAO (19.98%) Russian Federation FSU Consultenergoservice OOO Russian Federation FSU Electric Domestic549 1 13-Mar-09 Kimcheon Wind Power Plant South Korea Asia-Pacific Inno Metal Izirobot Inc - -

550 1 05-May-09Vladimir Energy Retail Co OAO - Vladimirenergosbyt (19.8%) Russian Federation FSU Moscow Industrial Bank OAO - MInB Russian Federation FSU Electric Domestic

551 1 16-Oct-09 Power Station (55MW Naga LBGT power plant, Cebu) Philippines Asia-Pacific SPC Power Corp Philippines Asia-Pacific Electric Domestic552 1 11-Mar-09 Kramfors Energiverk AB (9%) Sweden Europe E.ON AG Germany Europe Electric Cross-border553 1 08-Jun-09 Bryansk Retail Co OAO (21.741%) Russian Federation FSU Kevalda Holding Ltd Russian Federation FSU Electric Domestic

Page 10 of 15

Page 11: Power Deals 2009 All Deals

No.

Value of transaction

(US$m)Date announced

Target Name Target Nationality Target Location Acquirer name Acquirer Nationality Acquirer Location Sector Type

Power deals includes analysis of all global cross-border and domestic electricity, gas and renewable energy deal activity. It is the latest in our Power Deals annual series. This year, we have expanded the range of data sources to provide the fullest possible account of deal-making for renewable power assets. The analysis is based on published transactions from the Dealogic ‘M&A Global database’ for all electricity and gas deals. For renewables deals, we have supplemented this with analysis on published transactions from a variety of databases (John S Herold; Mergermarket; Capital IQ; Thomson as well as Dealogic). This enables consistency with our companion Renewables Deals publication which looks specifically at renewable energy M&A. Analysis encompasses announced deals, including those pending financial and legal closure, and those which are completed. Deal values are the consideration value announced or reported including any assumption of debt and liabilities. We have considered Asia Pacific as a region including Australasia, except where otherwise explicitly stated. All presented numbers of deals are inclusive of those deals with no reported value.

PricewaterhouseCoopers: Power Deals* 2009 Annual Review - Mergers and acquisitions activity within the global electricity and gas market - all published transactions

554 1 08-Jun-09 Bryansk Retail Co OAO (21.741%) Russian Federation FSU Lemur Holding SA Russian Federation FSU Electric Domestic555 1 12-May-09 Greenside Holdings Ltd (Stake%) Cambodia Asia-Pacific Leopard Capital Ltd Cambodia Asia-Pacific Electric Domestic556 1 08-Jun-09 Bryansk Retail Co OAO (21.741%) Russian Federation FSU Obymen Lake Holdings Ltd Russian Federation FSU Electric Domestic557 1 16-Mar-09 Bryansk Retail Co OAO (23.2%) Russian Federation FSU Energostrim Russian Federation FSU Electric Domestic558 1 26-Feb-09 Ubbink Solar Modules BV Netherlands Europe CENTROSOLAR Group AG - -559 1 01-Oct-09 Sunline AG (70%) Germany Europe ALGATEC Solar AG - -560 1 13-Mar-09 Daegu Solar Canopy Co Ltd (33.33%) South Korea Asia-Pacific Inno Metal Izirobot Inc - -561 1 21-Apr-09 Arkhangelsk Retail Co OAO (13.08%) Russian Federation FSU Market Purchase Russian Federation FSU Electric Domestic

562 1 11-Jun-09EarthFirst Canada Inc., Development Assets in B.C., Saskatchewan, Newfoundland And Labrador Canada North America Avro Wind Energy Inc. - -

563 1 18-May-09 Kursk Energy Retail Co OAO (19.98%) Russian Federation FSU TsentrEnergoCapital OOO Russian Federation FSU Electric Domestic564 1 06-Nov-09 Settlers Landing Wind Park Canada North America Wind Works Power Corp. (OTCBB:WWPW) - -565 1 21-Jan-09 CityView Corp Ltd (11.2892%) Australia Australasia Titan Bay Ltd Belize South America Electric Cross-border566 1 26-Nov-09 Guangxi Laibin City Xinyuan Hydropower Co., Ltd. China Asia-Pacific Shenzhen Zhaoheng Hydropower Co., Ltd. - -567 1 16-Apr-09 Sun Catalytix Corp (Stake%) United States North America Polaris Venture Partners United States North America Electric Domestic568 1 16-Apr-09 Sun Catalytix Corp (Stake%) United States North America Polaris Venture Partners - -569 1 11-May-09 Grand Valley Wind Farms Inc Canada North America Schneider Power Inc - -570 1 08-Jun-09 Energia del Futuro Srl Italy Europe Volteo Energie S.r.l. - -571 1 21-Apr-09 EarthFirst Nuttby Inc Canada North America Nova Scotia Power Inc Canada North America Electric Domestic572 1 21-Apr-09 EarthFirst Nuttby Inc Canada North America Nova Scotia Power Inc - -573 1 10-Jul-09 Chita Energy Retail Co OAO (24.5%) Russian Federation FSU E4 Group OAO Russian Federation FSU Electric Domestic574 1 20-Mar-09 Global Energy Holdings LLC United States North America 2020 Energy LLC - -575 1 02-Jul-09 Buryatenergosbyt OAO (28.07%) Russian Federation FSU E4 Group OAO Russian Federation FSU Electric Domestic576 1 16-Mar-09 Orlovskaya Retail Co OAO- Orelenergosbyt (16.5%) Russian Federation FSU Energostrim Russian Federation FSU Electric Domestic

577 1 09-Sep-09Omskaya Energosbytavaya Co OAO - Omskaya ESK (13.65%) Russian Federation FSU E4 Group OAO Russian Federation FSU Electric Domestic

578 1 06-Apr-09 Cayley Geothermal Corp. Canada North America Sierra Geothermal Power Corp. (TSXV:SRA) - -

579 1 05-Oct-09Ormat Technologies Inc., Geothermal Plant At Casper, Wyoming United States North America U.S. Department of Energy - -

580 0 16-Mar-09 Taean Solar Canopy Co Ltd (33.33%) South Korea Asia-Pacific Inno Metal Izirobot Inc - -581 0 09-Oct-09 Energy One Ltd (19.4365%) Australia Australasia Energy One Ltd Australia Australasia Electric Domestic582 0 24-Feb-09 QianAn Henghui Cogeneration Co Ltd (25%) China Asia-Pacific New Zealand Power Investment Ltd New Zealand Australasia Electric Cross-border

583 0 20-Apr-09Calcutta Compressions & Liquefaction Engineering Pvt Ltd (72.65%) India Asia-Pacific Everest Kanto Cylinder Ltd India Asia-Pacific Gas Domestic

584 0 09-Nov-09 Power Station (Honelles windfarm, Belgium) Belgium Europe Wind Works Power Corp - -585 0 13-May-09 Schneider Power Inc Canada North America Gazit Canada Inc - -586 0 05-May-09 Light Energy Systems United States North America Lonestar Capital Corp - -587 0 21-Sep-09 Kursk Energy Retail Co OAO (14.36%) Russian Federation FSU Bryansk Retail Co OAO Russian Federation FSU Electric Domestic588 0 29-Sep-09 Botunya Energy AD (98.68%) Bulgaria Europe Undisclosed Acquiror Bulgaria Europe Electric Domestic589 0 30-Sep-09 Botunya Energy JSC Bulgaria Europe - - -

590 0 15-Jun-09 Dragon Power Co Ltd (Cambodia) (59.99%) Cambodia Asia-PacificPrivate Investor (Edward Sherman Grant (25%), Jrarat Pingclasai (34.99%)) Thailand Asia-Pacific Electric Cross-border

591 0 16-Jan-09 Balinyou Wind Power Co Ltd (50%) China Asia-Pacific Beijing Jingneng Thermal Power Co Ltd - -

592 0 17-Sep-09Inner Mongolia Jingneng Bairin Right Wind Power Co., Ltd. China Asia-Pacific Beijing Jingneng Thermal Power Co., Ltd. (SHSE:600578) - -

593 0 08-Jul-09 Ulyanovskenergo OAO (5.83%) Russian Federation FSU Private Investor (I. Provkin) Russian Federation FSU Electric Domestic594 0 06-Nov-09 Zero Emission-Settlers Landing Canada North America Wind Works Power Corp - -595 0 07-Aug-09 Eden Village Sdn Bhd Malaysia Asia-Pacific Sebaya Ceria Sdn Bhd Malaysia Asia-Pacific Electric Domestic596 0 24-Apr-09 Arkhangelsk Retail Co OAO (20.78%) Russian Federation FSU Jamica Ltd Russian Federation FSU Electric Domestic597 0 07-Apr-09 Korea DS Solar Co Ltd South Korea Asia-Pacific Dan Sung Electron Co Ltd - -

598 0 07-Apr-09Novgorod Energy Retail Co OAO - Novgorodskaya ESK (23.7%) Russian Federation FSU Junevalley Trading Ltd Russian Federation FSU Electric Domestic

599 0 07-Apr-09Novgorod Energy Retail Co OAO - Novgorodskaya ESK (23.7%) Russian Federation FSU Prif Services Ltd Russian Federation FSU Electric Domestic

600 0 07-Apr-09Novgorod Energy Retail Co OAO - Novgorodskaya ESK (23.7%) Russian Federation FSU Vostochnaya Finansovaya Gruppa OOO Russian Federation FSU Electric Domestic

601 0 30-Jun-09 Ram Power, Inc. United States North America GTO Resources Inc. (NEX: GTR.H) - -602 0 16-Jan-09 Protean Power Pty Ltd Australia Australasia GB Energy Ltd - -603 0 02-Feb-09 Sky Solar Korea Co Ltd (45%) South Korea Asia-Pacific JS Co Ltd - -604 0 01-Jun-09 Chita Energy Retail Co OAO (8.16%) Russian Federation FSU Market Purchase Russian Federation FSU Electric Domestic605 0 16-Apr-09 Ulyanovskenergo OAO (7.29%) Russian Federation FSU Hosmaline Finance Ltd Russian Federation FSU Electric Domestic606 0 15-May-09 EarthFirst Canada Inc., Windrise Power Project Canada North America Canadian Hydro Developers Inc. - -607 0 15-Dec-09 Volkersleier GmbH & Co-KG Germany Europe ICP Solar Technologies Inc (OTCBB:ICPR) - -608 0 21-Oct-09 Vologodskaya Sbytovaya Kompaniya OAO (5.17%) Russian Federation FSU Roskommunenergo OAO Russian Federation FSU Electric Domestic609 0 24-Mar-09 PowerPlay Energy Corp Canada North America Newlook Industries Corp - -610 0 15-Apr-09 Polaris Geothermal Inc Nicaragua South America Investments and Technical Management Corp - -

611 0Murmanskaya Hydroelectric Power Plant OAO - Murmanskaya TETS (15.94%) Russia FSU TGC-1 OAO - -

612 0 22-Jun-09 Udmurt Energy Retail Co OAO (11.3%) Russian Federation FSU Infosant OOO Russian Federation FSU Electric Domestic

613 0 30-Sep-09Zero Carbon Wind Energy Corp, USA East Coast Projects United States North America Placer Gold Corp. (OTCPK:PGCR) - -

614 0 09-Jul-09 Saratovenergo OAO (11.96%) Russian Federation FSU Samaraenergo OAO Russian Federation FSU Electric Domestic

615 0 04-Nov-09Inner Mongolia Ordos Jinniu Coal Electricity Co Ltd (23%) China Asia-Pacific Zhejiang Dunan Artificial Environment Equipment Co Ltd China Asia-Pacific Electric Domestic

616 0 04-Aug-09 Wenchuan Zheli Hydropower Development Co., Ltd. China Asia-Pacific Heishui Jinyuan Hydropower Development Co., Ltd. - -617 0 23-Apr-09 Sterling Biofuels International Ltd (5.48%) Australia Australasia Private Investor (Lim Wai Foong) - -618 0 20-Jan-09 Huaneng Shouguang Wind Power China Asia-Pacific Bowen Ltd - -619 0 08-Jul-09 Eldrives RC (21%) Italy Europe Wolong Electric Group Co Ltd China Asia-Pacific Electric Cross-border

Page 11 of 15

Page 12: Power Deals 2009 All Deals

No.

Value of transaction

(US$m)Date announced

Target Name Target Nationality Target Location Acquirer name Acquirer Nationality Acquirer Location Sector Type

Power deals includes analysis of all global cross-border and domestic electricity, gas and renewable energy deal activity. It is the latest in our Power Deals annual series. This year, we have expanded the range of data sources to provide the fullest possible account of deal-making for renewable power assets. The analysis is based on published transactions from the Dealogic ‘M&A Global database’ for all electricity and gas deals. For renewables deals, we have supplemented this with analysis on published transactions from a variety of databases (John S Herold; Mergermarket; Capital IQ; Thomson as well as Dealogic). This enables consistency with our companion Renewables Deals publication which looks specifically at renewable energy M&A. Analysis encompasses announced deals, including those pending financial and legal closure, and those which are completed. Deal values are the consideration value announced or reported including any assumption of debt and liabilities. We have considered Asia Pacific as a region including Australasia, except where otherwise explicitly stated. All presented numbers of deals are inclusive of those deals with no reported value.

PricewaterhouseCoopers: Power Deals* 2009 Annual Review - Mergers and acquisitions activity within the global electricity and gas market - all published transactions

620 0 21-Apr-09 Tambov Energy Retail OAO (5.49%) Russian Federation FSU Jamica Ltd Russian Federation FSU Electric Domestic621 0 31-Mar-09 CEF Shirama Wind Farm Japan Asia-Pacific Kinden Corp - -622 0 21-Apr-09 Dagestan Energy Retail Co OAO (5.77%) Russian Federation FSU Dzhamica Ltd Russian Federation FSU Electric Domestic

623 0 18-Nov-09 Enersave Power Pte Ltd. Singapore Asia-Pacific - - -

624 0 08-Jun-09Kolskaya Energy Retail Co OAO - Kolenergosbyt (5.72%) Russian Federation FSU Stroykomplekt OOO Russian Federation FSU Electric Domestic

625 0 29-Jan-09 Enex Resources Corp Hungary Europe MOL Magyar Olaj- es Gazipari Rt; Green Rock Energy - -626 0 14-Dec-09 Power Station (456 MW Barka, Oman) Oman Middle East ACWA Power Projects Ltd Saudi Arabia middle east Electric Cross-border627 0 03-Feb-09 Kundkraft Sverige AB Sweden Europe Aftonbladet Hierta AB Sweden Europe Gas Domestic628 0 20-Nov-09 Ringdalskogen Fjernvarme AS (Majority%) Norway Europe AGO AG Energie + Anlagen Germany Europe Electric Cross-border629 0 20-Aug-09 Holso Therm GmbH (25.52%) Germany Europe AGO AG Energie + Anlagen Germany Europe Electric Domestic630 0 27-Jul-09 PromEnergoSbyt OOO (75.25%) Russian Federation FSU AirisCo OOO Russian Federation FSU Electric Domestic631 0 04-Aug-09 Power Station (Power station located in Catania) Italy Europe ALEA Sicilia Srl Italy Europe Electric Domestic632 0 03-Nov-09 Hispaelec Energia Spain Europe ALPIQ Holding AG Switzerland Europe Electric Cross-border633 0 01-Jul-09 EHOL Distribution srl Romania Europe ALPIQ Holding AG Switzerland Europe Electric Cross-border634 0 13-Jul-09 Inversiones Hornitos SA (40%) Chile South America Antofagasta plc United Kingdom Europe Electric Cross-border635 0 14-Sep-09 Vologodskaya Sbytovaya Kompaniya OAO (6.9999%) Russian Federation FSU Arkhangelsk Retail Co OAO Russian Federation FSU Electric Domestic636 0 03-Apr-09 Power Station (Esperance power station and pipeline Australia Australasia Australia & New Zealand Banking Group Ltd - ANZ Australia Australasia Electric Domestic637 0 15-Feb-09 Deval Srl (51%) Italy Europe Autonomous Region of Valle D'Aosta Italy Europe Electric Domestic638 0 07-Dec-09 Power Station (Oakey Power Station) Australia Australasia Babcock & Brown International Pty Ltd Australia Australasia Electric Domestic639 0 05-Jan-09 PowerStream Inc Canada North America Barrie Hydro Distribution Inc Canada North America Electric Domestic640 0 02-Oct-09 Komi Energy Retail Co OAO (11.94%) Russian Federation FSU Basly Management Ltd Russian Federation FSU Electric Domestic641 0 09-Jan-09 Emmevu Green SrL Italy Europe Biotedim Srl Italy Europe Electric Domestic642 0 09-Jun-09 PowerPlus Electric Inc United States North America Bowlin Group of Companies Inc South Africa Africa Electric Cross-border643 0 26-May-09 EPCOR Power (Castleton) LLC United States North America Castleton Energy Center LLC United States North America Electric Domestic644 0 19-Nov-09 Empresa Catarinense de Transmissao de Energia SA Brazil South America Centrais Eletricas de Santa Catarina SA - CELESC Brazil South America Electric Domestic645 0 01-Jul-09 Prazska Teplarenska as (48.67%) Czech Republic Europe Ceske Energeticke Zavody as - CEZ Czech Republic Europe Electric Domestic646 0 03-Aug-09 Masson France Europe Chaplain SAS France Europe Electric Domestic647 0 29-Dec-09 Power Station (Cangzhou power plant) China Asia-Pacific China Resources Power Holdings Co Ltd China Asia-Pacific Electric Domestic648 0 21-May-09 OwnEnergy Inc (Stake%) United States North America Clearpoint Ventures; United States North America Electric Domestic649 0 11-Oct-09 Luz y Fuerza del Centro - LFC (Majority%) Mexico North America Comision Federal de Electricidad - CFE Mexico North America Electric Domestic650 0 28-Oct-09 Empresa Regional de Transmissao de Energia SA Brazil South America Companhia Energetica de Minas Gerais - CEMIG Brazil South America Electric Domestic651 0 28-Oct-09 Empresa Norte de Transmissao de Energia SA Brazil South America Companhia Energetica de Minas Gerais - CEMIG Brazil South America Electric Domestic652 0 21-Jan-09 Mather & Stuart Ltd (50%) United Kingdom Europe Corpacq plc United Kingdom Europe Electric Domestic653 0 16-Mar-09 Infinity Power Inc United States North America Daulton Capital Corp Canada North America Electric Cross-border654 0 27-Apr-09 Power Station (2 power plants with a capacity of 10MW Italy Europe Deutsche Bank Italy Europe Electric Domestic655 0 02-Feb-09 Power Station (1MW power plant in Brindisi) Italy Europe Deutsche Bank Italy Europe Electric Domestic656 0 09-Nov-09 Gascogne Energies Services - GES (20%) France Europe Direct Energie SA France Europe Electric Domestic657 0 02-Jul-09 Multiutility Energy (67%) Italy Europe Dolomiti Energia SpA Italy Europe Electric Domestic658 0 09-Oct-09 Giudicarie Gas SpA (39.55%) Italy Europe Dolomiti Energia SpA Italy Europe Gas Domestic659 0 10-Dec-09 Avisio Energia SpA Italy Europe Dolomiti Energia SpA Italy Europe Gas Domestic660 0 01-Apr-09 Saratovgaz OAO (5.239%) Russian Federation FSU Domilex ZAO Russian Federation FSU Gas Domestic661 0 01-Oct-09 Societe Nationale d'Electricite et de Thermique - SNET France Europe E.ON AG Germany Europe Electric Cross-border662 0 13-Mar-09 Stadtwerke Tornesch GmbH (Minority%) Germany Europe E.ON AG Germany Europe Gas Domestic663 0 02-Aug-09 Electrabel SA/NV (Power plants located in the Belgium Europe E.ON AG Germany Europe Electric Cross-border664 0 03-Sep-09 HEMAB Elforsaljning AB (25%) Sweden Europe E.ON AG Germany Europe Electric Cross-border665 0 09-Jul-09 ET Energia e Territorio Servizi Technologici Srl (25%) Italy Europe E.ON Italia SpA Italy Europe Gas Domestic666 0 03-Mar-09 ET Servizi Commerciali SrL (60%) Italy Europe E.ON Italia SpA Italy Europe Gas Domestic667 0 10-Jul-09 Metema Energy Srl (19.6%) Italy Europe E.ON Italia SpA Italy Europe Gas Domestic668 0 06-Jul-09 Energetica Srl (Gas distribution business in the Italy Europe Edison SpA Italy Europe Gas Domestic669 0 10-Mar-09 Power Station (Natural-gas-fueled power station in Vietnam Asia-Pacific Electric Power Development Co Ltd - J-Power Japan Asia-Pacific Electric Cross-border670 0 19-Mar-09 Elektrocieplownia Krakow SA (28.05%) Poland Europe Electricite de France SA - EDF France Europe Electric Cross-border671 0 12-Aug-09 Lime Energy Co (Certain Assets of Energy Technology United States North America ELUTIONS Inc United States North America Electric Domestic672 0 26-Jun-09 Bayside Power LP United States North America Emera Inc Canada North America Electric Cross-border673 0 15-Jan-09 Electricity Supply Board (ESB) (Great Island Power Ireland Europe Endesa SA Spain Europe Electric Cross-border674 0 15-Jan-09 Energia Lombarda Srl (Gas distribution business unit) Italy Europe Enel Energia SpA Italy Europe Gas Domestic675 0 18-Sep-09 Power Station (Wave energy park located in Portugal Europe Energias de Portugal SA - EDP; Portugal Europe Electric Domestic676 0 27-Apr-09 Borusan Enerji Yatirimlari Ve Uretim AS (50%) Turkey Europe Energie Baden-Wuerttemberg AG - EnBW Germany Europe Electric Cross-border677 0 19-Mar-09 STKW Energie Doerpen GmbH & Co KG (75.1%) Germany Europe Energie Baden-Wuerttemberg AG - EnBW Germany Europe Electric Domestic678 0 01-Oct-09 KNG Kraftwerks- und Netzgesellschaft mbH (50.4%) Germany Europe Energie Baden-Wuerttemberg AG - EnBW Germany Europe Electric Domestic679 0 15-Oct-09 STAWAG Stadtwerke Aachen AG (Coal-burning power Germany Europe Energie Baden-Wuerttemberg AG - EnBW Germany Europe Electric Domestic680 0 09-Sep-09 DFW Midstream Services LLC United States North America Energy Capital Partners United States North America Electric Domestic681 0 20-May-09 Dhanashree Projects Pvt Ltd India Asia-Pacific Energy Development Co Ltd India Asia-Pacific Electric Domestic682 0 05-Nov-09 Cut Bank Gas Co (17%) United States North America Energy West Inc United States North America Gas Domestic683 0 08-Apr-09 CoaLogix Inc United States North America EnerTech Capital Partners United States North America Electric Domestic684 0 28-Aug-09 Toscana Energia Clienti SpA (20%) Italy Europe ENI SpA Italy Europe Gas Domestic685 0 06-Nov-09 Energiepark Trelder Berg GmbH Germany Europe Enovos International SA Luxembourg Europe Gas Cross-border686 0 30-Oct-09 Acadia Power Partners LLC (Unit 2 of Acadia Energy United States North America Entergy Louisiana LLC United States North America Electric Domestic687 0 16-Aug-09 MITGAS Mitteldeutsche Gasversorgung GmbH Germany Europe envia Mitteldeutsche Energie AG Germany Europe Electric Domestic688 0 19-Mar-09 Midland Cogeneration Venture LP United States North America EQT Infrastructure Fund; Sweden Europe Electric Cross-border689 0 17-Dec-09 Swedegas AB Sweden Europe EQT Partners AB Sweden Europe Gas Domestic690 0 13-May-09 Sunwest Canada Energy Ltd (Stake%) Canada North America Existing Shareholders Canada North America Electric Domestic691 0 01-Jul-09 ACLIS Co Ltd Japan Asia-Pacific F-Bit Communications Corp Japan Asia-Pacific Electric Domestic692 0 28-Oct-09 Yaroslavl Power Grid Co OAO - YarESK (51%) Russian Federation FSU Federal Grid Co OAO Russian Federation FSU Electric Domestic693 0 27-Oct-09 Gotica Link SLU Spain Europe First Wave Services SLU Spain Europe Electric Domestic

Page 12 of 15

Page 13: Power Deals 2009 All Deals

No.

Value of transaction

(US$m)Date announced

Target Name Target Nationality Target Location Acquirer name Acquirer Nationality Acquirer Location Sector Type

Power deals includes analysis of all global cross-border and domestic electricity, gas and renewable energy deal activity. It is the latest in our Power Deals annual series. This year, we have expanded the range of data sources to provide the fullest possible account of deal-making for renewable power assets. The analysis is based on published transactions from the Dealogic ‘M&A Global database’ for all electricity and gas deals. For renewables deals, we have supplemented this with analysis on published transactions from a variety of databases (John S Herold; Mergermarket; Capital IQ; Thomson as well as Dealogic). This enables consistency with our companion Renewables Deals publication which looks specifically at renewable energy M&A. Analysis encompasses announced deals, including those pending financial and legal closure, and those which are completed. Deal values are the consideration value announced or reported including any assumption of debt and liabilities. We have considered Asia Pacific as a region including Australasia, except where otherwise explicitly stated. All presented numbers of deals are inclusive of those deals with no reported value.

PricewaterhouseCoopers: Power Deals* 2009 Annual Review - Mergers and acquisitions activity within the global electricity and gas market - all published transactions

694 0 27-Oct-09 Bridge Boreal SLU Spain Europe First Wave Services SLU Spain Europe Electric Domestic695 0 23-Nov-09 CAES Development Co (Rights to Norton Energy United States North America FirstEnergy Generation Corp United States North America Electric Domestic696 0 22-Sep-09 Romande Energie Commerce SA (Minority%) Switzerland Europe Forces Motrices l'Avancon SA Switzerland Europe Electric Domestic697 0 20-May-09 Acacia Instalaciones Fotovoltaicas SLU Spain Europe Foresight Group United Kingdom Europe Electric Cross-border698 0 23-Oct-09 Kharkovgorgaz VAT (19.1731%) Ukraine Europe Gazeks-Ukraina TOV Ukraine Europe Gas Domestic699 0 15-Oct-09 Novocherkasskgorgaz OAO (20%) Russian Federation FSU Gazprom OAO Russian Federation FSU Gas Domestic700 0 18-Feb-09 Yugragaz OAO (76.991%) Russian Federation FSU Gazprom OAO Russian Federation FSU Gas Domestic701 0 21-Apr-09 Uralgasservice (58.901%) Russian Federation FSU Gazprom OAO Russian Federation FSU Gas Domestic702 0 22-Apr-09 Primorsko-Akhtarskraygaz OAO (33.95%) Russian Federation FSU Gazprom OAO Russian Federation FSU Gas Domestic703 0 22-Apr-09 Vyselkiraygaz OAO (10.08%) Russian Federation FSU Gazprom OAO Russian Federation FSU Gas Domestic704 0 22-Apr-09 Armavirgorgaz OAO (7.655%) Russian Federation FSU Gazprom OAO Russian Federation FSU Gas Domestic705 0 22-Apr-09 Timashevskraygaz OAO (5.36%) Russian Federation FSU Gazprom OAO Russian Federation FSU Gas Domestic706 0 22-Apr-09 Kurganinskraygaz OAO (22.47%) Russian Federation FSU Gazprom OAO Russian Federation FSU Gas Domestic707 0 08-Jan-09 Italcogim SpA (25.5%) Italy Europe GDF Suez SA France Europe Gas Cross-border708 0 18-Sep-09 Stadtwerke Zehdenick GmbH (74.9%) Germany Europe Gelsenwasser AG Germany Europe Gas Domestic709 0 23-Jun-09 Green Eco Sys LLC United States North America Genesis Invest AG Switzerland Europe Electric Cross-border710 0 04-Nov-09 Servicios Del Carralero SL Spain Europe Gesdegas SL Spain Europe Gas Domestic711 0 25-Jul-09 Emco Energy Ltd India Asia-Pacific GMR Infrastructure Ltd India Asia-Pacific Electric Domestic712 0 20-Jan-09 Constellation Energy Group Inc (International United Kingdom Europe Goldman Sachs Group Inc United States North America Electric Cross-border713 0 22-Apr-09 Viraventos Energy (30%) Spain Europe Green Alliance SGECR Spain Europe Electric Domestic714 0 10-Jul-09 Lixar (Energy Management Business ) Canada North America GridPoint Inc - Canada Canada North America Electric Domestic715 0 09-Sep-09 Ram Power Inc United States North America GTO Resources Inc Canada North America Electric Cross-border716 0 30-Jun-09 Pacific Electrical Installations Ltd Canada North America Henkels & McCoy Inc United States North America Electric Cross-border717 0 03-Mar-09 Tamarete Energia SrL (32%) Italy Europe Hera SpA Italy Europe Electric Domestic718 0 04-May-09 PriGeAS Srl (51%) Italy Europe Hera SpA Italy Europe Electric Domestic719 0 05-Mar-09 Yizhang County Electricity Co Ltd (Power supply China Asia-Pacific Hunan Chendian International Development Shareholding Co China Asia-Pacific Electric Domestic720 0 17-Dec-09 Cap Rock Holding Corp United States North America Hunt Transmission Services United States North America Electric Domestic721 0 01-Apr-09 Plug Power Inc United States North America HyGear BV Netherlands Europe Electric Cross-border722 0 17-Sep-09 Komi Energy Retail Co OAO (11.94%) Russian Federation FSU Infosant OOO Russian Federation FSU Electric Domestic723 0 10-Jun-09 Revdagazservice OAO (60.65%) Russian Federation FSU Infosant OOO Russian Federation FSU Gas Domestic724 0 02-Mar-09 Pervouralskgaz OAO (43.16%) Russian Federation FSU Infosant OOO Russian Federation FSU Gas Domestic725 0 02-Mar-09 Plevskoimezhraigaz OAO (79.87%) Russian Federation FSU Infosant OOO Russian Federation FSU Gas Domestic726 0 02-Mar-09 Revdagazservice OAO (39.49%) Russian Federation FSU Infosant OOO Russian Federation FSU Gas Domestic727 0 02-Mar-09 Krasnoturinskmezhraygaz OAO (67.87%) Russian Federation FSU Infosant OOO Russian Federation FSU Gas Domestic728 0 02-Mar-09 Nizhniytagilmezhraygaz OAO (60.45%) Russian Federation FSU Infosant OOO Russian Federation FSU Gas Domestic729 0 29-May-09 Transenergo International NV (67%) Russian Federation FSU Infoterm ZAO Russian Federation FSU Electric Domestic730 0 01-Oct-09 GMR Kamalanga Energy Ltd (20%) India Asia-Pacific Infrastructure Development Finance Co Ltd - IDFC; India Asia-Pacific Electric Domestic731 0 22-Dec-09 OGK-1 OAO (Stake%) Russian Federation FSU Inter RAO EES OAO Russian Federation FSU Electric Domestic732 0 24-Nov-09 Ekibastuz GRES-1 Ltd (50%) Kazakhstan Asia-Pacific Inter RAO EES OAO Russian Federation FSU Electric Cross-border733 0 04-Dec-09 Moldavskaya GRES ZAO (62.55%) Moldova Europe Inter RAO EES OAO Russian Federation FSU Electric Cross-border734 0 05-Oct-09 Achates Power Inc United States North America Investor Group United States North America Electric Domestic735 0 16-Mar-09 CPL Concordia Soc. Coop. ARL (Gas distribution Italy Europe Italcogim SpA Italy Europe Gas Domestic736 0 30-Nov-09 Libera Energia Srl (45%) Italy Europe Italtrading SpA Italy Europe Gas Domestic737 0 24-Apr-09 Tango Gas (Majority%) Japan Asia-Pacific Iwatani Corp Japan Asia-Pacific Gas Domestic738 0 18-Dec-09 Iwaki Gas Japan Asia-Pacific Japan Petroleum Exploration Co Ltd Japan Asia-Pacific Gas Domestic739 0 30-Mar-09 Societe d'Enrichissement du Tricastin - SET Holding France Europe Kansai Electric Power Co Inc; Japan Asia-Pacific Electric Cross-border740 0 30-Mar-09 AREVA SA (French Areva's Georges Besse II nuclear France Europe Kansai Urban Banking Corp; Japan Asia-Pacific Electric Cross-border741 0 07-Jul-09 Next SpA (Minority%) Italy Europe Kinexia SpA Italy Europe Electric Domestic742 0 15-Jun-09 Societe d'Enrichissement du Tricastin - SET Holding France Europe Korea Hydro & Nuclear Power Co Ltd South Korea Asia-Pacific Electric Cross-border743 0 19-Oct-09 Cimegas Adriatica Srl (Gas distribution business unit in Italy Europe Liquigas SpA Italy Europe Gas Domestic744 0 06-Jul-09 Maxcom Gas Srl (Gas distribution business in the Italy Europe Liquigas SpA Italy Europe Gas Domestic745 0 09-Jul-09 Petrolgas di Tenace Antonio & C SNC (Gas distribution Italy Europe Liquigas SpA Italy Europe Gas Domestic746 0 13-Jul-09 Garino Livio (Gas distribution business in the Comune Italy Europe Liquigas SpA Italy Europe Gas Domestic747 0 01-May-09 Ceskomoravska Energeticka as Czech Republic Europe Lumius spol sro Czech Republic Europe Electric Domestic748 0 28-Dec-09 Integrys Energy Services Inc (Wholesale Electric United States North America Macquarie Group Ltd - MGL Australia Australasia Electric Cross-border749 0 25-Nov-09 Power Station (23 Megawatt wind power plant, Hungary Europe Magyar Villamos Muvek Zrt - MVM Zrt Hungary Europe Electric Domestic750 0 08-Jun-09 Invenergy Thermal Financing LLC (49%) United States North America Marubeni Corp Japan Asia-Pacific Electric Cross-border751 0 02-Apr-09 Invenergy LLC (1,092 MW of plants ) United States North America Marubeni Corp Japan Asia-Pacific Electric Cross-border752 0 01-Jun-09 Sevastopolgaz OAO (21.1%) Ukraine Europe Materon Ltd Cyprus Europe Gas Cross-border753 0 01-Dec-09 RRI Energy Solutions East LLC (Retail power United States North America MC Squared Energy Services LLC United States North America Electric Domestic754 0 09-Feb-09 Dutton Hydro Ltd Canada North America Middlesex Power Distribution Corp Canada North America Electric Domestic755 0 14-Dec-09 MOL Energy Trade Ltd Hungary Europe MOL Magyar Olaj-es Gazipari Rt; Hungary Europe Gas Domestic756 0 26-Nov-09 Central Repair-Mechanical Plant OOO Russian Federation FSU Mosenergo OAO Russian Federation FSU Electric Domestic757 0 15-Apr-09 PowerbyProxi Ltd (Stake%) New Zealand Australasia Movac Ltd New Zealand Australasia Electric Domestic758 0 10-Dec-09 Energy Co of Ukraine NAK (Combined heat and Power Ukraine Europe Naftogaz Ukraine NAK Ukraine Europe Electric Domestic759 0 06-Nov-09 HNG I/S Denmark Europe Naturgas Midt-Nord I/S Denmark Europe Gas Domestic760 0 01-Nov-09 MARL Energia - Central Fotovoltaica SA (31.73%) Portugal Europe New Energy Fund - NEF Portugal Europe Electric Domestic761 0 13-Dec-09 Power Station (362 MW Lal Pir and 365 MW Pak Gen) Pakistan Asia-Pacific Nishat Mills Ltd Pakistan Asia-Pacific Electric Domestic762 0 29-Jun-09 Switch.dk A/S Denmark Europe Nordjysk Elhandel A/S Denmark Europe Electric Domestic763 0 15-Dec-09 Electrabel SA/NV (Thermal Power Plant, Netherlands) Netherlands Europe Nuon NV Netherlands Europe Electric Domestic764 0 14-Dec-09 Vani Energies Pvt Ltd India Asia-Pacific Octant Interactive Technologies Ltd India Asia-Pacific Electric Domestic765 0 14-Dec-09 Indravati Energies Pvt Ltd India Asia-Pacific Octant Interactive Technologies Ltd India Asia-Pacific Electric Domestic766 0 27-Nov-09 Borasco Elektrik Uretim Sanayi (20%) Turkey Europe OMV AG Austria Europe Electric Cross-border767 0 13-Feb-09 Enerco Enerji Sanayi ve Ticaret AS (40%) Turkey Europe OMV AG Austria Europe Gas Cross-border768 0 23-Sep-09 Buena Vista Biomass Development LLC (Majority%) United States North America Otoka Energy Corp United States North America Electric Domestic769 0 22-Dec-09 Energiya OAO (13.12%) Russian Federation FSU Parmina OOO Russian Federation FSU Electric Domestic770 0 19-Nov-09 Dominion Peoples Natural Gas Co United States North America Peoples Hope Gas Companies United States North America Gas Domestic771 0 17-Aug-09 NSG Mid-Georgia LLC United States North America Perennial Power Holdings United States North America Electric Domestic

Page 13 of 15

Page 14: Power Deals 2009 All Deals

No.

Value of transaction

(US$m)Date announced

Target Name Target Nationality Target Location Acquirer name Acquirer Nationality Acquirer Location Sector Type

Power deals includes analysis of all global cross-border and domestic electricity, gas and renewable energy deal activity. It is the latest in our Power Deals annual series. This year, we have expanded the range of data sources to provide the fullest possible account of deal-making for renewable power assets. The analysis is based on published transactions from the Dealogic ‘M&A Global database’ for all electricity and gas deals. For renewables deals, we have supplemented this with analysis on published transactions from a variety of databases (John S Herold; Mergermarket; Capital IQ; Thomson as well as Dealogic). This enables consistency with our companion Renewables Deals publication which looks specifically at renewable energy M&A. Analysis encompasses announced deals, including those pending financial and legal closure, and those which are completed. Deal values are the consideration value announced or reported including any assumption of debt and liabilities. We have considered Asia Pacific as a region including Australasia, except where otherwise explicitly stated. All presented numbers of deals are inclusive of those deals with no reported value.

PricewaterhouseCoopers: Power Deals* 2009 Annual Review - Mergers and acquisitions activity within the global electricity and gas market - all published transactions

772 0 27-Nov-09 Power Station (160-megawatt Termobarrancas Power Venezuela South America Petroleos de Venezuela SA - PDVSA Venezuela South America Electric Domestic773 0 17-Apr-09 PJI Development Sdn Bhd (49.99%) Malaysia Asia-Pacific PJI Holdings Bhd Malaysia Asia-Pacific Electric Domestic774 0 03-Aug-09 FirstEnergy Corp (Transmission assets ) United States North America PJM Interconnection LLC United States North America Electric Domestic775 0 03-Feb-09 Kuhlman Electric Corp (single and 3-phase pole- United States North America Power Partners Inc United States North America Electric Domestic776 0 31-Mar-09 Electric Networks OAO (20.58%) Russian Federation FSU Private Investor (Abdullakhan Ablataev) Russian Federation FSU Electric Domestic777 0 30-Sep-09 Energiya OAO (72.5%) Russian Federation FSU Private Investor (Aleksandr Khurudzhi) Russian Federation FSU Electric Domestic778 0 31-Mar-09 Electric Networks OAO (12%) Russian Federation FSU Private Investor (Aleksandr Yerofeev) Russian Federation FSU Electric Domestic779 0 30-Apr-09 Primorsky Gaz OAO (18.166%) Russian Federation FSU Private Investor (Alesey Khmel) Russian Federation FSU Gas Domestic780 0 26-Oct-09 Penzagasification OAO (12.978%) Russian Federation FSU Private Investor (Eduard Kuznetsov) Russian Federation FSU Gas Domestic781 0 07-Aug-09 Central Energetica Ribeirao Preto Acucar E Alcool Ltda Brazil South America Private Investor (Ricardo Mansur) Brazil South America Electric Domestic782 0 31-Mar-09 Electric Networks OAO (20.58%) Russian Federation FSU Private Investor (Sergey Mikhailov) Russian Federation FSU Electric Domestic783 0 16-Apr-09 Penzenskaya Gorelektroset ZAO (7.13%) Russian Federation FSU Private Investor (Yuriy Varlamov) Russian Federation FSU Electric Domestic784 0 21-May-09 Energy Direct New Zealand Ltd (Assets) New Zealand Australasia Pulse Utilities New Zealand Ltd New Zealand Australasia Electric Domestic785 0 21-Jul-09 Advanced Telemetry LLC (Stake%) United States North America Quercus Trust; United States North America Electric Domestic786 0 14-Aug-09 Sakhalin Energy Co OAO (10.17%) Russian Federation FSU RAO Energy Systems of East OAO Russian Federation FSU Electric Domestic787 0 07-Aug-09 Jharkhand Integrated Power Ltd India Asia-Pacific Reliance Power Ltd India Asia-Pacific Electric Domestic788 0 17-Sep-09 Komi Energy Retail Co OAO (11.94%) Russian Federation FSU Remix-Group OOO Russian Federation FSU Electric Domestic789 0 08-Jun-09 Polevskoymezhraygaz OAO (24.94%) Russian Federation FSU Remix-Group OOO Russian Federation FSU Gas Domestic790 0 29-Jul-09 Empresa Electrica Valle Hermoso SA (Majority%) Bolivia South America Republic of Bolivia Bolivia South America Electric Domestic791 0 29-Jul-09 Empresa Electrica Guaracachi SA - EGSA (Majority%) Bolivia South America Republic of Bolivia Bolivia South America Electric Domestic792 0 12-Feb-09 Union Fenosa SA (Nicaraguan Operations) Nicaragua South America Republic of Nicaragua Nicaragua South America Electric Domestic793 0 28-Jul-09 EnefTech Innovation SA (23%) Switzerland Europe Romande Energie SA Switzerland Europe Electric Domestic794 0 07-May-09 Elso Magyar Foldgaz-Es Energiakereskedelmi es Hungary Europe RosGas Switzerland Europe Electric Cross-border795 0 04-Feb-09 Adyggaz OAO (25.498%) Russian Federation FSU Rosneftegaz OAO Russian Federation FSU Electric Domestic796 0 02-Feb-09 Murmanoblgaz OAO (25.5%) Russian Federation FSU Rosneftegaz OAO Russian Federation FSU Gas Domestic797 0 13-Feb-09 Saratovoblgaz OJSC (25.5%) Russian Federation FSU Rosneftegaz OAO Russian Federation FSU Gas Domestic798 0 06-Mar-09 Kuban Energy Retail Co OAO (24.49%) Russian Federation FSU Rusenergoinvest OOO Russian Federation FSU Electric Domestic799 0 13-Mar-09 Kaskad Nizhne-Cherekskykh GES OAO (92.9%) Russian Federation FSU RusHydro OAO Russian Federation FSU Electric Domestic800 0 23-Mar-09 E.ON Turcas Guney Elektrik Uretim AS (70%); Turkey Europe RWE AG Germany Europe Electric Cross-border801 0 27-Feb-09 Stadtwerke Kirn GmbH (Electricity divison) Germany Europe RWE AG Germany Europe Electric Domestic802 0 12-Nov-09 Sakhalin Energy Co OAO (5.5817%) Russian Federation FSU Sakhalin Sea Ports OOO Russian Federation FSU Electric Domestic803 0 03-Feb-09 Biogas Technologies Unlimited LLC United States North America Schmack BioEnergy LLC United States North America Gas Domestic804 0 21-May-09 Abernedd Power Co Ltd United Kingdom Europe Scottish & Southern Energy plc United Kingdom Europe Electric Domestic805 0 17-Jul-09 Integrys Energy Services of Canada Corp (Canadian Canada North America Shell Energy North America US LP United States North America Electric Cross-border806 0 29-Oct-09 Shanghai Natural Gas Pipeline Networks Co Ltd China Asia-Pacific Shenergy Group Co Ltd China Asia-Pacific Gas Domestic807 0 09-Jul-09 Transparent Energy Systems Pvt Ltd (Stake%) India Asia-Pacific Siemens Venture Capital GmbH Germany Europe Electric Cross-border808 0 08-Dec-09 Shanxi Eurofo Green Energy Co Ltd China Asia-Pacific Sino Dragon New Energy Holdings Ltd; China Asia-Pacific Electric Domestic809 0 30-Mar-09 Servizi Energetici Integrati SpA (Gas distribution Italy Europe Societa Italiana per il Gas SpA - ITALGAS Italy Europe Electric Domestic810 0 09-Sep-09 Coruscant SA (Minority%) France Europe Societe Nationale des Chemins de Fer Francais - SNCF France Europe Electric Domestic811 0 10-Jul-09 Andali Energia Srl (90%) Italy Europe Solgenera Srl Italy Europe Electric Domestic812 0 21-Oct-09 DeSoto County Generating Co LLC United States North America Southern Power Co United States North America Electric Domestic813 0 22-Oct-09 West Georgia Generating Co LLP United States North America Southern Power Co United States North America Electric Domestic814 0 28-Apr-09 Stadtwerke Stollberg GmbH Germany Europe Stadtwerke Crimmitschau GmbH Germany Europe Electric Domestic815 0 28-Apr-09 Stadtwerke Lichtenstein GmbH Germany Europe Stadtwerke Crimmitschau GmbH Germany Europe Electric Domestic816 0 23-Oct-09 Kraftwerk Mehrum GmbH (50%) Germany Europe Stadtwerke Hannover AG Germany Europe Electric Domestic817 0 28-Sep-09 Hai Phong Thermal Power Joint Stock Co (9%) Vietnam Asia-Pacific State Capital Investment Corp - SCIC Vietnam Asia-Pacific Electric Domestic818 0 19-Feb-09 IvTBS ZAO (93.46%) Russian Federation FSU SU-155 ZAO Russian Federation FSU Electric Domestic819 0 18-Nov-09 Ensys AG Germany Europe Suewag Energie AG; Germany Europe Electric Domestic820 0 25-Nov-09 Atlantic Power Corp (Mid-Georgia Cogeneration United States North America Sumitomo Corp Japan Asia-Pacific Electric Cross-border821 0 21-Apr-09 Kharkovoblenergo AO (12.31%) Ukraine Europe Svarog Asset Management OOO Ukraine Europe Electric Domestic822 0 11-Sep-09 Power Station (Tarong North Power Station, Australia Australasia Tarong Energy Corp Ltd Australia Australasia Electric Domestic823 0 20-Nov-09 Simran Wind Project Pvt Ltd India Asia-Pacific Techno Electric & Engineering Co Ltd India Asia-Pacific Electric Domestic824 0 10-Jul-09 Sime Darby Power Link Sdn Bhd Malaysia Asia-Pacific Tenaga Nasional Bhd (50% / 50%); Malaysia Asia-Pacific Electric Domestic825 0 13-Mar-09 Novomoskovskaya GRES OAO Russian Federation FSU TGC-4 OAO Russian Federation FSU Electric Domestic826 0 31-Aug-09 Seacom SpA Italy Europe Toscana Energia Clienti SpA Italy Europe Gas Domestic827 0 07-Sep-09 Clima Gas Srl (Gas distribution business in the Italy Europe Total SA Italy Europe Gas Domestic828 0 18-Dec-09 Springerville Unit 3 Holding Co LLC (Stake%) United States North America Tri-State Generation & Transmission Association Inc United States North America Electric Domestic829 0 02-Jun-09 Novomoskovskaya Teplovaya Kompaniya OOO Russian Federation FSU Tula Distribution Co OAO Russian Federation FSU Electric Domestic830 0 30-Jan-09 Respekt Energyia OOO Russian Federation FSU Tula Distribution Co OAO Russian Federation FSU Electric Domestic831 0 13-Oct-09 Primagas GmbH (Bottled gas division) Germany Europe Tyczka Totalgaz GmbH Germany Europe Electric Domestic832 0 21-Jul-09 Zomar SA (Majority%) Poland Europe Ukrinterenergo Ukraine Europe Electric Cross-border833 0 17-Dec-09 Atomic Energy of Canada Ltd (Candu Reactor Division Canada North America Undisclosed Acquiror Canada North America Electric Domestic834 0 16-Mar-09 Western Indus Power Ltd India Asia-Pacific Undisclosed Acquiror India Asia-Pacific Electric Domestic835 0 17-Apr-09 Constellation Energy Group Inc (Power marketing United States North America Undisclosed Acquiror United States North America Electric Domestic836 0 11-Sep-09 Vadinar Power Co Ltd (51.15%) India Asia-Pacific Undisclosed Acquiror India Asia-Pacific Electric Domestic837 0 07-Oct-09 Komi Energy Retail Co OAO (11.94%) Russian Federation FSU Undisclosed Acquiror Russian Federation FSU Electric Domestic838 0 05-Oct-09 Komi Energy Retail Co OAO (11.94%) Russian Federation FSU Undisclosed Acquiror Russian Federation FSU Electric Domestic

Page 14 of 15

Page 15: Power Deals 2009 All Deals

No.

Value of transaction

(US$m)Date announced

Target Name Target Nationality Target Location Acquirer name Acquirer Nationality Acquirer Location Sector Type

Power deals includes analysis of all global cross-border and domestic electricity, gas and renewable energy deal activity. It is the latest in our Power Deals annual series. This year, we have expanded the range of data sources to provide the fullest possible account of deal-making for renewable power assets. The analysis is based on published transactions from the Dealogic ‘M&A Global database’ for all electricity and gas deals. For renewables deals, we have supplemented this with analysis on published transactions from a variety of databases (John S Herold; Mergermarket; Capital IQ; Thomson as well as Dealogic). This enables consistency with our companion Renewables Deals publication which looks specifically at renewable energy M&A. Analysis encompasses announced deals, including those pending financial and legal closure, and those which are completed. Deal values are the consideration value announced or reported including any assumption of debt and liabilities. We have considered Asia Pacific as a region including Australasia, except where otherwise explicitly stated. All presented numbers of deals are inclusive of those deals with no reported value.

PricewaterhouseCoopers: Power Deals* 2009 Annual Review - Mergers and acquisitions activity within the global electricity and gas market - all published transactions

839 0 20-Jul-09 Integrys Energy Services Inc (Energy Management United States North America US Energy Services United States North America Electric Domestic840 0 03-Aug-09 Energy Service Providers Inc United States North America US Gas & Electric Inc United States North America Electric Domestic841 0 16-Sep-09 Orissa Power Consortium Ltd (Remaining%) India Asia-Pacific VBC Ferro Alloys Ltd India Asia-Pacific Electric Domestic842 0 15-Jul-09 DayStar Technologies Inc (assets located in Halfmoon, United States North America Veeco Instruments Inc United States North America Electric Domestic843 0 05-Mar-09 Power Station (Vao power plant, Tallinn, Estonia) Estonia Europe Veolia Environnement SA France Europe Electric Cross-border844 0 29-Oct-09 Spigas Srl (66%) Italy Europe Verbundnetz Gas AG - VNG Germany Europe Gas Cross-border845 0 01-Jul-09 Energeiaki EPE (85%) Greece Europe VioSolar Inc Greece Europe Electric Domestic846 0 17-Dec-09 FirstEnergy Corp (340-Megawatt Sumpter Plant) United States North America Wolverine Power Supply Cooperative Inc United States North America Electric Domestic847 0 18-Nov-09 Alliance Energy Solutions United States North America WW Grainger Inc United States North America Electric Domestic848 0 01-Apr-09 Alfa Power sro Slovak Republic Europe ZCHP Sarl Slovak Republic Europe Electric Domestic

Source: PricewaterhouseCoopers, Power Deals* 2009 Annual Review, based on published transactions from Dealogic ‘M&A Global’ database, December 2009

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For further information, please contact:

Olesya Hatop, Global Energy, Utilities & Mining MarketingTelephone: +49 201 438 1431Email: [email protected]

© 2010 PricewaterhouseCoopers. All rights reserved. PricewaterhouseCoopers refers to the network of member firms of PricewaterhouseCoopers International Limited, each of which is a separate and independent legal entity. *connectedthinking is a trademark of PricewaterhouseCoopers LLP.

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www.pwc.com/powerdeals

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