Your Global Energy Partner COMPANY PROFILE. Burmeister & Wain Scandinavian Contractor A/S

Your Global Energy Partner COMPANY PROFILE Burmeister & Wain Scandinavian Contractor A/S 1

C O M P A N Y P R O F I L E TURNKEY SOLUTIONS FOR SMART ENERGY BWSC DOES THE JOB ALL OVER THE WORLD 2

BWSC - YOUR GLOBAL ENERGY PARTNER Access to reliable, low-cost energy is essential to achieve sustainable economic growth and the opportunity to develop business and society. Utilities, Independent Power Producers (IPPs) and power-generating industrial companies are increasingly dependent on their ability to maximise the efficiency of their assets, and they need business partners who understand the core of their business. BWSC has supplied more than 175 power plants to 53 countries, with a total generating capacity in excess of 3,500 MW. In addition to turnkey power plants, BWSC s product range includes transmission lines, distribution systems, generation services, training, spare parts and power plant rehabilitation. Rabai IPP Power Station, Kenya BWSC has its origin in the stationary engine division of Burmeister & Wain (B&W), which has built and installed diesel engines since 1904. BWSC was established in 1980 as a separate specialist company with the aim to develop the known technologies into high-efficient power plants. Since, the company has evolved into a full turnkey contractor and developer of power plant projects all over the world. In 1990, BWSC was acquired by the current owner, Mitsui Engineering & Shipbuilding Co. Ltd. (MES), Japan. West Sunrise Plant, Grand Bahama Burmeister & Wain Scandinavian Contractor A/S (BWSC) is a world-leading turnkey contractor and operator for medium and large diesel engine-based and gas-based power systems. Further, BWSC is experienced in biomass and waste-to-energy technologies, and our expertise ranges from all aspects of plant design to rehabilitation, operation, maintenance, service and financing. BWSC takes a leading role in the development of IPP companies. This comprises the establishment of all commercial and legal agreements, including power and fuel purchase contracts, and the financing, insurance and land lease arrangements, etc. In addition to the initial role of developer, BWSC undertakes the supply and construction of the complete plant on a turnkey basis and provides Operation and Maintenance (O&M) services for the lifecycle of the plant. Experience with many different fuel types 3

C O M P A N Y P R O F I L E BWSC PRODUCTS AND SERVICES BWSC provides the full range of power systems engineering. The portfolio embraces turnkey supply and construction of stationary and barge-mounted power plants as well as a complete range of technical services: operation and mainte nance, power plant rehabilitation, spare parts and training. Coloane Power Station, Macau Sleaford Biomass Plant, UK Fort Victoria Power Station, Mauritius BWSC s modular concept and flexibility to select the best available technology enable us to offer optimised and competitive solutions for all applications, be it centralised or decentralised plants, or base-load or peak-load applications. Whatever the unique requirements of the project, BWSC has the solution. Natural gas-operated 4-stroke engine combined heat and power (CHP) plants: CHP plants operate with an electrical efficiency of about 45% and a total efficiency of up to 90%. BWSC has developed a modular, cost-competitive and environmentally friendly concept. 2-stroke diesel power plants based on quality engines licensed by MAN and built by MES: Operating on heavy and non-commercial grades of fuel including refinery bottom residuals and Orimulsion, 2-stroke technology is appropriate and competitive for base-load power plants up to 400 MW. Engines can also be delivered as Gas Injection Diesel Engines (GIDE) operating on gas or modified to operate on gas at a later stage. Low- speed diesel plants are characterised by superior electrical efficiency, high availability, extended life cycle, maximum fuel flexibility and low maintenance costs. Biomass power plants: In co-operation with leading boiler suppliers, BWSC has rapidly developed its business within the biomass power plant sector. BWSC is the main supplier of high-technology biomass power plants to the UK market, using straw, woodchip and waste materials as primary fuels to produce CO 2 -neutral heat and power. BWSC biomass power plants produce in the range of 15-60 MW. BWSC, thereby, offers its expertise as a turnkey power plant supplier and operator to a new part of the renewable energy sector, in response to the demand to reduce the dependency on fossil fuels. 4-stroke diesel power plants based on quality engines built by world-leading manufacturers: Medium-speed technology is competitive for intermediate and base-load power plants up to 200 MW, combining very competitive capital costs and fast delivery times with high efficiency and availability using commercial grades of fuel. IPP projects and development: BWSC is an experienced developer and investor of diesel and biomass power projects. Our handson approach from early stage of development to financial close has brought BWSC to a leading position as IPP developer and investor in Europe, Africa and Latin America. Leveraging on in-house technical, commercial and financial expertise, BWSC supports its clients and partners through the various steps of the power project all the way to implementation and operation. 4

Environmental compliance: When required, BWSC includes specific abatement systems in the projects to ensure compliance with the emission obligations established by local authorities, national governments or financial institutions. Operation & Maintenance: A well-defined and managed maintenance policy is essential for any power plant to operate smoothly and reliably. BWSC offers a wide variety of service and maintenance arrangements supported by computer-based maintenance, operation and control systems. Contracts range in format from bonus-oriented contracts to long-term fixed-price contracts, depending on clients requirements for revenue and cost predictability. Delimara Power Station, Malta An Operation & Maintenance Agreement with BWSC provides you with a power production scheme at a very competitive rate while also providing access to BWSC s know-how of all aspects of operation and maintenance. Technical support: Years of experience enable BWSC s engineers to provide in-depth technical assistance covering all aspects of diesel power plant operations. BWSC enters into longterm Technical Support Agreements (TSA) with our clients, and we can dispatch expert troubleshooting teams at short notice. Piti Power Station, Guam Rehabilitation: Rehabilitation of older plants is recognised as a sound measure, both from a full economic and an environmental perspective. Training: A broad variety of training programmes offered by BWSC speeds up the learning process by conveying to our clients the knowledge and experience gained by BWSC from our many years of operating and maintaining diesel power plants worldwide. Operation & Maintenance FROM CONCEPT TO REALISATION Throughout the implementation of a project, you can rely on BWSC to bring the power plant from concept to reality, on time and within budget. BWSC maintains close relationships with the world s leading diesel and gas engine manufacturers, securing outstanding cooperation and gaining detailed diesel-engine knowledge. From the start of commercial operations, BWSC s skilled teams of O&M supervisors and trainers can undertake all operational obligations or provide any level of support to enable the staff to efficiently meet performance expectations. This flexibility enables BWSC to objectively choose the technology which best matches the requirements of a particular project. 5

C O M P A N Y P R O F I L E PROJECTS WORLDWIDE Below is a summary of selected power plants built by BWSC. A more detailed list is presented on the next page. Suriname: In 2012, BWSC won the international tender for a 63 MW power plant in Paramaribo. The plant was designed with three turbocharged MAN 18V48/60TS engines and is extremely low-noise to accomodate for the location in the city centre. The plant was built in only 13 months and all civil work and systems have been prepped for an increase in capacity from 63 to 84 MW. United Kingdom Sleaford: A 38.5 MW straw-fired power plant was built in consortium with boiler manufacturer BWE during 2013 as the largest UK biomass plant to date. Fuel is locally sourced, and the power generated from the plant is supplied to approx. 65,000 households and businesses. United Kingdom Wales: 14 MWe tailor-made biomass plant, Western Wood, fuelled by forestry wood and clean, uncontaminated residues from wood-processing. A turnkey contract was signed in 2006, and an integrated firing system guarantees the complete burnout of the wood, minimising emissions while maintaining high combustion efficiency. The Philippines Mindanao: A consortium consisting of Mitsui & Co., MES and BWSC has been operating two power barges since delivery in 1994 under an EPC contract. The barges are moored on the island of Mindanao and are equipped with 2-stroke Mitsui MAN B&W engines each barge providing a total output of 102 MW. Bermuda: As part of a new expansion plan, Bermuda Electric Light Company Ltd. (BELCO) entered into a contract with BWSC for the first phase of the expansion programme, a 28 MW plant comprising two MAN 4-stroke engines. The plant was handed over in April 2000; 2nd phase (28 MW) was completed in 2005. Cayman Islands: In 2000, Caribbean Utilities Company Ltd. entered into a 10-year strategic alliance agreement with MAN Diesel SE, in cooperation with BWSC, for their 10-year generation expansion programme. Divided into four phases, a new 69 MW plant was built from 2000-2009 based on five MAN medium-speed diesel engines. In 2015, a phase 5 contract was signed for a 40 MW plant with MAN 4-stroke diesel engines. Portugal The Azores: To meet the increasing power requirements, the local power authority, EDA, awarded a number of contracts to BWSC for the expansion of the power stations on the islands of Terceira and Pico. The expansion of capacity was carried out across six contracts with BWSC, from 1995 to 2008, and covers eight gensets with MAN 4-stroke engines and a total capacity of 57 MW. Panama Miraflores and Pacora: In 2001, BWSC signed an EPC contract with the Authority of the Panama Canal (ACP) for the Miraflores 18 MW power plant based on a MAN 18V48/60 engine. In August 2006, the plant was extended with a 36 MW capacity. Also in 2001, an EPC contract was signed for a 50 MW power plant in Pacora. The contract included a complete substation and connection to the existing overhead power line near the plant. Greece Atherinolakkos: With the aim to upgrade the Crete island power production capacity, the Public Power Corporation of Greece decided to establish a new power plant on the island. As consortium leader, BWSC obtained the order for a 102 MW power plant based on 2-stroke engines from Mitsui. The plant is located in a remote area and, therefore, includes extensive auxiliaries, effluent cleaning systems, tank farms, service and storage facilities. The plant was completed ahead of schedule, in summer 2004, in time for the Olympic Games in Greece. Coloane Power Station, Macau DPP2 Power Plant, Suriname St. Louis Power Station, Mauritius Atherinolakkos Power Station, Greece 6

BWSC AROUND THE WORLD Selected Biomass and Biogas Plants Country Owner Capacity Production Year UK GIB and ESB 40 MWe 40 MWe 2015 UK Eco2 40MWe 40MWe 2013 UK Evermore Renew. Energy 15.8 Mwe 15.8 Mwe 2013 UK Eco2 Lincs Ltd. 38.5 Mwe 38.5 Mwe 2011 Denmark Linko Gas, RT5 Upgrade 5,000 m 3 2010 Denmark Linko Gas, RT4 Upgrade 2,400 m 3 2008 Denmark Lemvig Biogas, RT4 Upgrade 7,000 m 3 2007 UK/Wales Western Wood Energy 14 MWe 14 MWe 2006 Japan Hokaido Island 3 x 7,000 t/y 3 x 600 m 3 /d 2003 Japan Obihiro University 1,400 t/y 120 m 3 /d 2001 Selected Power Plants with 4-stroke Diesel Engines (4-S) Country Owner MW Contract Lebanon (Zouk) Ministry of Energy and Water 198 2013 Lebanon (Jiyeh) Ministry of Energy and Water 80 2013 Suriname N.V. Energiebedrijven Suriname 63 2012 Mauritius Central Electricity Board 2.5 2011 Bahamas Grand Bahama Power Company Ltd. 52 2011 Mauritius Central Electricity Board 60 2011 Libya Mabruk Oil Operations 8.7 2009 Malta Enemalta Corporation 144 2009 Mauritius Central Electricity Board 30 2009 Cyprus Electricity Authority of Cyprus 50 2008 Kenya Rabai Power Ltd. 90 2008 Cayman Islands Caribbean Utilities Company Ltd. 16 2008 Portugal, Azores Electricidade dos Açores 3.3 2008 Panama Inversiones y Desarrollos Balboa S.A. 85 2007 Greece Public Power Corporation 11 2007 Cayman Islands Caribbean Utilities Company Ltd. 16 2006 Burkina Faso Société Nationale d Electricité 18 2005 Portugal, Azores Electricidade dos Açores 3.3 2005 Sudan White Nile Petroleum Operation Co. 45 2005 Mauritius Central Electricity Board 41 2004 Bahamas Grand Bahama Power Company Ltd. 18 2004 Libya Compagnie des Petroles Total Libye 18 2004 Portugal, Azores Electricidade dos Açores 25 2004 Bermuda Bermuda Electric Light Company Ltd. 29 2003 Sudan Atbara Cement Company 4 2003 Portugal, Azores Electricidade dos Açores 6 2003 Mauritius Central Electricity Board, Rodrigues 4 2003 Curação Aqualectra Production N.V. 34 2002 Cayman Islands Caribbean Utilities Company Ltd. 12 2002 Panama Pedregal Power Company, S. de R.L. 50 2001 Panama Autoridad del Canal de Panama 18 2001 Egypt EMAK for Utilities and Services 14 2000 Portugal, Azores Electricidade dos Açores 6 2000 Selected Power Plants with 2-stroke Diesel Engines (2-S) Country Owner MW Contract Cyprus Electricity Authority of Cyprus 51 2007 Bahamas Bahamas Electricity Corporation 18 2005 Greece Public Power Corporation SA 102 2002 Sri Lanka Colombo Power (Private) Ltd. 60 1999 Mauritius Selected Combined Heat and Power Plants with Gas Engines Country Owner MW e /MW h Contract Engine Greece DESFA 13.0/12.3 2007 4-S Lean-burn Denmark Skive CHP Co. 3.1/3.4 1996 4-S Lean-burn Czech Republic Bytovy Podnik CHP Co. 5.2/7.1 1995 4-S Lean-burn Denmark Central Electricity Board, Fort George: Control System Units 4 &5 61 1998 Guam Enron Development Piti Corporation 88 1997 Malaysia Stratavest Sdn. Bhd. 60 1997 Mauritius Central Electricity Board, Fort George: Unit 3 31 1995 Macau Companhia de Electricidade de Macau 103 1993 Philippines National Power Corporation 205 1992 Bahamas Bahamas Electricity Corporation 56 1990 Macau Companhia de Electricidade de Macau 37 1990 Frederikssund Municipality CHP Co. 11.0/12.4 1995 4-S Lean-burn Denmark Gram CHP Co. 5.3/6.5 1995 4-S Lean-burn Denmark Holsted CHP Co. 3.1/3.8 1993 4-S Lean-burn Denmark Helsinge CHP Co. 6.1/7.5 1993 4-S Lean-burn Denmark Brørup CHP Co. 3.8/4.3 1993 4-S Lean-burn Denmark Skive CHP Co. 9.2/10.3 1993 4-S Lean-burn Denmark Vojens CHP Co. 5.4/7.0 1992 4-S Lean-burn Denmark Brande CHP Co. 4.7/5.6 1992 4-S Lean-burn Selected O&M and TSAs for Power Plants Country Owner MW Duration Years Contract UK UK GIB and ESB SREP 40 12 12 12 2015 2014 Curacao Iraq Aqualectra Bander 28 0.5 1 2014 2013 Bahamas Grand Bahama Power Company 52 1 2012 Panama Canal de Panama 54 1 2009-13 UK Eco2 Lincs Ltd. 38.5 12 2013 Barbados Barbados Light & Power Company Ltd. 50 5 2011 Greece DESFA 13 1 2011 Barbados Barbados Light & Power Company Ltd. 50 5 2010 Burkina Faso Sonabel 18 3 2011 Bahamas Grand Bahama Power Company 18 1 2010 Senegal Senelec 9 1 2010 Kenya Rabai Power Limited 90 20 2009 India GMR Vasavi Power Station 200 2 2009 Cyprus Electricity Authority of Cyprus 50 4 2009 Panama Inversiones y Desarrollos Balboa S.A. 85 5 2008 Libya Great Mabruk 16 5 2008 UK/Wales Western Bioenergy Ltd. 14 5 2007 Panama Autoridad del Canal de Panama 54 1 2007 Sri Lanka Colombo Power (Private) Limited 60 15 2000 7

C O M P A N Y P R O F I L E BWSC AFFILIATES BWSC A/S is a subsidiary company of Mitsui Engineering & Shipbuilding Co. Ltd. (MES), which is the senior licensee of MAN Diesel Turbo SE and a principal producer of the advanced MAN B&W 2-stroke diesel engines. BWSC has demonstrated strong financial performance and has a long-standing AAA-rating by Dun & Bradstreet/Bisnode. In 2014, BWSC s annual revenue was EUR 244 million. BWSC is headquartered north of Copenhagen, Denmark, and has representative offices worldwide to support the international marketing activities. In addition, BWSC has established a number of local companies to undertake the operation and maintenance of diesel power plants producing electricity for national power utilities in a number of countries. International Sales Offices: BWSC Panama S.A. Representative Office Panama City, Panama Phone: +507 264 2886 BWSC Sales Office, United States Houston, Texas Phone: +1 713 467 5277 BWSC Hellas Power Ressources S.A., Greece Athens, Greece Phone: +30 210 948 3440 BWSC Sales Office, Brazil Rio de Janeiro, Brazil Phone: +55 (21) 9585-1782 Please visit www.bwsc.com for more information. Burmeister & Wain Scandinavian Contractor A/S Gydevang 35, P.O. Box 235, DK-3450 Allerød, Denmark Phone: +45 48 14 00 22, Fax: +45 48 14 01 50 bwsc@bwsc.dk, www.bwsc.com 8 05/15