SAMSUNG C&T

Kazakhstan Balkhash Thermal Power Plant The 1st IPP project in CIS region. The symbol of economic cooperation between Korea and Kazakhstan. The Build-Own-Operate-Transfer (BOOT) project involves building a 1,320MW coal-fired thermal power plant near Ulken Village, Balkhash in the Republic of Kazakhstan, marking the very first IPP project in Kazakhstan. As part of the project, Samsung C&T has partnered with ‘Samruk Energy’, a wholly-owned subsidiary of Kazakhstan’s National Welfare Fund ‘Samruk Kazyna’ that has been developing the project since 2009. Samsung C&T’s roles include project organizing, financing, project management, EPC and O&M, while Samruk Energy takes care of administrative or regulatory arrangements, permits and licenses, off-take arrangement, local work support and potential coal supplier development. Samsung Engineering has been selected as the EPC Contractor, while Korea South-East Power Company (KOSEP) will be the O&M operator. Kazakhstan Electricity Grid Operating Company (KEGOC) will serve as the off-taker through Capacity Purchase Agreement (CPA), and coal supply will be carried out by Bogatyr Komir through Coal Supply Agreement (CSA). Financing will be completed in the third quarter of 2013, consisting of Korean and Chinese ECAs, Islamic Development Bank and commercial lenders. Unit 1 construction will be completed in the fourth quarter of 2017 and Unit 2 in early second quarter of 2018.

U.S, California Atwell Solar Farms 190 MW ( Phase I : 130 MW, Phase II : 40 MW, Phase III : 20 MW)

Canada Ontario Wind and Solar Power Cluster 1,369 MW in 3 phases of Wind (1,069 MW) / Solar (300 MW)

Mexico NorteⅡ Combined-cycle Power Plant 433MW This project is the first IPP project won by Korean company in the Americas ‘The PF Deal of the year (2011)’ by Euromoney Norte Ⅱ is a combined cycle power plant with capacity of 433MW located in Chihuahua, Northwest of Mexico. In this IPP project based on PPA (Power Purchase Agreement) with CFE (Mexican Electricity Board), Samsung C&T has led project development, project financing, EPC and O&M. The project was awarded in an open international competitive bidding to address electricity shortage in the northwestern area of Mexico in December, 2008. The bidding process was however delayed because of the global financial crisis and Mexico swine influenza. It was eventually finalized in August, 2010. Power Generation Part of Samsung C&T selected Mexico as its target market since it has mature IPP business environment with well-organized legal framework and 21 IPP precedents. Samsung C&T organized a sponsor group with KEPCO and Techint, a Mexican construction company. We also arranged reliable EPC contractors for this project namely Samsung Engineering and Techint. As for O&M, we had firm conviction that KEPCO was the right company. The Samsung C&T-KEPCO-Techint consortium participated in the bid in June, 2010, and won with the most competitive tariff in August, 2010. The contract award had huge significance since Spanish (Iberdrola, Abener) and Japanese developers (Mitsui, Mitsubishi) had been the dominant players in the Mexican IPP market before Norte Ⅱ project. We later completed EBL closing and started construction in December, 2010. PF closing was finalized in July, 2012 and now Samsung C&T has been making continuous efforts to complete construction and begin commercial operation in May, 2013. This is the first IPP project won by a Korean company in the Americas, consequently establishing a bridgehead for Korean players’ advancing into the Latin American IPP market. Furthermore, Samsung C&T has made game-changing move in the process of PF closing with unprecedented financial conditions (Margin, Tenor) which resulted in the deal being selected as ‘the PF Deal of the year (2011)’ by Euromoney.