E.ON Climate & Renewables An overview of our business ... - e.on AG

E.<strong>ON</strong> <strong>Climate</strong> & <strong>Renewables</strong>
<strong>An</strong> <strong>overview</strong> <strong>of</strong> <strong>our</strong> <strong>business</strong> activities
November, 2009

The <strong>Renewables</strong> Business – Our Core Beliefs
E.<strong>ON</strong> <strong>Climate</strong> & <strong>Renewables</strong> – Strategy & Track Record
Business Spotlight – Offshore Wind
Conclusion
Back-Up
2

Renewable Energies – from Boutique to Industrial
Wind energy as a perfect example for the industry development
Growth:
Players:
Project Size:
Turnover:
Global
wind
capacity
(GW)
S<strong>our</strong>ces: GWEC; EER
1.000
800
600
400
200
0
1980 to 2000 Since 2000
� < 1 GW p.a., regional
� „True believer“ and niche
supplier
� Kilowatt scale
� 10 GW p.a., worldwide
� International suppliers and
industrial players (e.g. utilities)
� Gigawatt scale
� ~€160 bn (2008); ~€400 bn (2020e), p.a.
Expected growth 2010-
2020
+700 GW
2015
2020
3

A snapshot <strong>of</strong> the <strong>Renewables</strong> landscape:
Some similarities, many differences
Global
capacity
[GW]
Long-term
feasible
potential
worldwide
[GW]
Current
technology
maturity
S<strong>our</strong>ces: E.<strong>ON</strong>; IEA; BTM; CIT; WEC; WEA
Wind Biomass Solar Marine energy
120 900 50 110
13 157
0,3 1,2
2008
2020
~5.000 ~2.000 ~50.000 ~5.000
Advanced
Step changes in
technology
possible
Pro<strong>of</strong>-<strong>of</strong>-concept &
technology tracking
4

Renewable energy at E.<strong>ON</strong>
Our strategy: One key theme with clearly defined cornerstones
EC&R key
theme: From
Boutique to
Industrial
Industrialization <strong>of</strong> the whole value chain and
commercial discipline
Leverage on E.<strong>ON</strong> core competencies, market position
and reputation
High portfolio discipline: focus on growth markets
and growth technologies
Strategic partnerships
Safety as top priority
5

Set-up <strong>of</strong> E.<strong>ON</strong> <strong>Climate</strong> & <strong>Renewables</strong> (EC&R) to achieve
ambitious <strong>Renewables</strong> targets
EC&R remit
Setting strategy, portfolio and the
investment plan for <strong>Renewables</strong>
Managing all existing and future
<strong>Renewables</strong> operations
Carbon s<strong>our</strong>cing (JI/CDM) for the
entire E.<strong>ON</strong> Group
Driving E.<strong>ON</strong>'s key growth
aspirations
Spearheading E.<strong>ON</strong>'s activities in
emerging markets
E.<strong>ON</strong>’s generation portfolio
13%
15%
34%
34%
38%
18%
~ 30%
~22%
~ 11%
~31%
~ 12%
2008 2015 2030
<strong>Renewables</strong> capacity 1
1
2007
~4
2010
E.<strong>ON</strong> is investing about €8 bn in <strong>Renewables</strong> from 2007-2011 and will decrease own CO 2
~18%
~12%
~30%
~40%
<strong>Renewables</strong> (incl. large hydro)
Nuclear
~36%
~11%
emissions by 50% until 2030
1 Excluding large hydro 2 Low carbon: natural gas/oil; coal without CCS 3 Zero carbon: <strong>Renewables</strong> (incl. hydro); nuclear; coal (with CCS)
Coal
Gas
50% zero Carbon 3
~10
2015
6

The <strong>Renewables</strong> Business – Our Core Beliefs
E.<strong>ON</strong> <strong>Climate</strong> & <strong>Renewables</strong> – Strategy & Track Record
Business Spotlight – Offshore Wind
Conclusion
Back-Up
7

Disciplined management <strong>of</strong> technologies and markets
EC&R focus is set on most attractive …
EC&R technology
selection criteria
� Scalability
� Growth
potential
� Financial
attractiveness
� Wider E.<strong>ON</strong>
Group interest
� Closeness to
E.<strong>ON</strong>
capabilities
Industrial scale
application
Wind
Onshore
Wind
Offshore
Biogas / Biomethane,
Inland biomass
First commercial
plants
Solar PV / Thin-
Film Applications
Coastal
Biomass
…and markets.
Solar / CSP
Pro<strong>of</strong>-<strong>of</strong>-concept &
technology tracking
Wave /
Tidal
… technologies …
Core
activities for
2009 and
beyond
8

Despite challenging market conditions we have continued to
grow at pace
EC&R Capacity Development (MW)
2009 – Key Facts
� We saw a 50% increase <strong>of</strong> production
capacity to 2,903 MW (11/2009)
� EC&R erected two wind turbines on
average per day
� YE capacity will grow beyond 3,000 MW
� Commissioning <strong>of</strong> Roscoe wind farm (782
MW, 09/2009, US), world’s largest wind
farm
� Completion <strong>of</strong> Alpha Ventus1 (60 MW,
11/2009), Germany’s first <strong>of</strong>fshore wind
farm
� Commissioning <strong>of</strong> 1st Solar PV farm Le
Lauzet (1 MW, 07/2009, France)
� Acquisition <strong>of</strong> solar project developer
Societé Conilhac (06/2009, France)
1 JV <strong>of</strong> EC&R (26.25%), EWE (47,5%) and Vattenfall Europe (26,25%) 9

Focus on the most attractive markets: current footprint
Installed <strong>Renewables</strong> capacity as <strong>of</strong> November 2009 (MW 1 )
1,721
North
America
1 E.<strong>ON</strong> Equity MW (Figures rounded), excluding large hydro
S<strong>our</strong>ce: E.<strong>ON</strong>
351
Iberia
245
UK
208
Germany
57
Nordic
278
Italy
43
Europe
(others)
2,903
2,813
90
Other
<strong>Renewables</strong>
Wind
10

Key projects build the basis <strong>of</strong> a robust portfolio
Technology Installed Capacity (MW) Major Operational Projects 1 Key Projects under Construction 1
Wind onshore 2,700
Wind <strong>of</strong>fshore 113
• Roscoe (782 MW), US
• Panther Creek (458 MW), US
• Scroby Sands (60 MW), UK
• Alpha Ventus 2 (60 MW), GER
Biomass 44 • Steven’s Cr<strong>of</strong>t (44 MW), UK • -
Biogas/Biomethane 20 • Steven’s Cr<strong>of</strong>t (44 MW), UK
Solar PV/CSP 1
• Le Lauzet I (1MW), F (2009)
• Thin film JV Malibu with Schüco
• Wielkopolska (48 MW, 2009), PL
• Barao Sao Joao (50 MW, 2009), ES
• London Array 3 (630 MW, 2012), UK
• Robin Rigg (180 MW, 2010), UK
• Rödsand II (207 MW, 2010/11) , DK
1 Indicative – please see „Back-Up“ for complete project <strong>overview</strong> 2 Joint Venture <strong>of</strong> E.<strong>ON</strong> (26.25%), EWE (47.5%) and Vattenfall (26.25%) 3 Joint Venture <strong>of</strong> E.<strong>ON</strong> (30%), D<strong>ON</strong>G (50%) and Masdar (20%)
• -
• Helioenergy I (50 MW, 2011/12), ES
• Helioenergy II (50 MW, 2011/12), ES
• Le Lauzet II (2.5 MW, 2009), F
Marine n/a • - • Venture with Pelamis (2010), UK
11

EC&R Development Pipeline
Figures as <strong>of</strong> 11/2009 (MW)
MW
1 E.<strong>ON</strong> Equity MW (Figures rounded)
S<strong>our</strong>ce: E.<strong>ON</strong>
MW Share
North America 9.496 55%
Onshore Wind 9.496 100%
Europe 7.617 45%
Onshore Wind 3.369 44%
Offshore Wind 3.482 46%
Others 766 10%
� Geographically balanced
development pipeline
� Wind energy as core activity
� Increased focus on
European <strong>of</strong>fshore sector
12

Our “Boutique to Industrial“ approach is starting to pay <strong>of</strong>f
∅ Wind farm size (MW)
∅ Wind turbine size (MW)
# Wind turbine OEM
# Wind turbine types
Wind turbine availability
“Boutique to Industrial” results
Status Quo
YE 2007
15
1.4
9
53
2007
91%
New Build
2008/2009
75
1.9
8
13
2009
94%
Trend
Onshore Wind
Clear steps towards
industrialization both in
operations and
procurement start creating
value to <strong>our</strong> <strong>business</strong>
13

Continuous cost improvements are critical to success
Excellence in operations and procurement are key to pr<strong>of</strong>itability
� Procurement and O&M make up for more
than 80% <strong>of</strong> total cost
� Procurement as major performance driver
� 10% cost reduction yields 100bp higher IRR
% = NPV cost item / NPV total cost
Key Facts
Focus on procurement and O&M drives return improvements
through both costs (efficiency) and revenues (e. g. availability)
Onshore Wind
O&M Costs
Turbine Costs
Electrical System Costs
Construction Costs
Development Costs
14

“Boutique to Industrial” will stay <strong>our</strong> fundamental driver
SCADA 1
Optimized spare part
concept
CMS 3 and predictive
maintenance
Access to critical
equipment and tools
Proper and complete
documentation
1 Supervisory Control <strong>An</strong>d Data Acquisition 2 Wind Turbine Generator 3 Condition Monitoring System
2011 target
availability
98%
2011 target
O&M cost
reduction
-10%
Scale <strong>of</strong> projects and
harmonized WTG 2 use
Spare part pooling
Widen O&M contracts
Optimized share <strong>of</strong> 3 rd
party O&M
O&M framework
agreement
Onshore Wind
We will stay at the forefront <strong>of</strong> industry development both in wind and other
<strong>Renewables</strong> technologies
15

Solar will be “the next wind” and we want to stand on two
legs: PV 1 and CSP 2
Installed Capacity Worldwide (MW)
100,000
90,000
80,000
70,000
60,000
50,000
40,000
30,000
20,000
10,000
0
Wind Time Scale1991
1993 1995 1997 1999 2001 2003 2005 2007
PV Time Scale
Wind and Solar installed capacity per year
Global Capacity Solar PV in MWp3 Global Capacity Wind in MW
2000 2002 2004 2006 2008E 2010E 2012E
Installed capacity [GW]
PV
CSP
2008 2020
13 ~140
>1 ~20
Global Feasible
Potential [GW]
50,000 - 80,000
1 PV = Photovoltaic 2 CSP = Concentrated Solar Power 3 Megawatt peak: maximum electric power output <strong>of</strong> a solar cell 16
S<strong>our</strong>ces: EPIA; GWEA; EWEA
Solar

EC&R footprint in the solar <strong>business</strong>
Solar Photovoltaics (PV)
• Acquisition <strong>of</strong> Société Conilhac, a
developer <strong>of</strong> photovoltaic projects in
France
• Recent opening <strong>of</strong> first E.<strong>ON</strong> solar PV
farm, Le Lauzet I, France
• Start <strong>of</strong> Construction <strong>of</strong> Le Lauzet II,
France (COD 2009)
• Malibu1 production <strong>of</strong> thin-film modules
(40 MW/yr)
1 Joint Venture <strong>of</strong> EC&R (50%) and Schüco (50%)
Concentrated Solar Power (CSP)
• Market entry achieved
• 50/50 partnership with Abengoa Solar
for the development <strong>of</strong>…
• … two 50 MW CSP Plants
• … in Southern Spain
• … ~€550m partnership investment
• … COD planned for 2011/12
• Abengoa Solar and E.<strong>ON</strong> aiming to
extend partnership to further develop
solar power
EC&R will continue to expand its solar activities to build a strong 2 nd leg besides
<strong>our</strong> wind <strong>business</strong>
Solar
17

Selective engagement in technologies besides wind & solar
Biomass
portfolio
Biomethane
portfolio
Marine
portfolio
Emerging Technologies
• UK´s largest dedicated wood burning plant (Steven’s Cr<strong>of</strong>t, 44 MW)
• Further projects (~450 MW) in development
• German market leader for industrial scale Biomethane plants
• Europe’s largest Biomethane plant Schwandorf (95 GWh, p.a.)
• Total portfolio <strong>of</strong> 400 GWh (p.a.) by end <strong>of</strong> 2009
� Extensive evaluation <strong>of</strong> technology readiness since 2005
� Purchase <strong>of</strong> second generation Pelamis device (750 kW)
� Commissioning <strong>of</strong> 1st application planned for 2010
18

EC&R has a clear Carbon S<strong>our</strong>cing strategy
EC&R Carbon S<strong>our</strong>cing – Current Footprint
Strategic Partnership with Bionersis
� EC&R pre-finances agreed upon projects and
receives 25% <strong>of</strong> the generated CERs for free
� 1 st project: KPS landfill, Thailand, 190.000 CERs p.a.
Portfolio will reach 20 Mton CO 2 e by end 2009
Focus areas on the “Make” 1 side
EC&R takes a global opportunisitic
approach on the “Buy” 2 side
Russia
� “Make” with OGK4 in Russia
MENA
� Strong local partners
Southeast Asia/China
� Local <strong>of</strong>fice in KL
EC&R is positioned to be one <strong>of</strong> the leading market players worldwide
1 “Make”: EC&R as project developer and minority shareholder in <strong>of</strong>fset projects 2 “Buy”: EC&R buys <strong>of</strong>fset certificates from existing projects
Carbon S<strong>our</strong>cing
19

Market Unit EC&R – Key Data
In € million Q3/2008 Q3/2009 Change
Installed Capacity (MW) 1,792 2,652 +48%
Generation (GWh) 2,100 3,600 +71%
Revenues 270 315 +17%
Adjusted EBITDA 79 207 +162%
Adjusted EBIT 23 104 +352%
Operat. Cashflow -42 222 -
Investments 907 753 -17%
Employees 499 652 +31%
20

The <strong>Renewables</strong> <strong>business</strong> – Our core beliefs
E.<strong>ON</strong> <strong>Climate</strong> & <strong>Renewables</strong> – Strategy & track record
Business Spotlight – Offshore Wind
Conclusion
Back-Up
21

Offshore is more than “onshore in the water“
Onshore Offshore
Res<strong>our</strong>ces • 2,000 full load h<strong>our</strong>s per year
• Limited space available
Dimensions • Wind farms <strong>of</strong> 20 -50 MW
• Capex <strong>of</strong> €30 – 70 mn per wind farm
Environment • Smooth conditions
• Unrestricted access at all times (24/7)
• 4,000 full load h<strong>our</strong>s per year
• Large space available
• Wind farms <strong>of</strong> 100 – 1,000 MW
• Capex <strong>of</strong> €1 – 3 bn per wind farm
• Rough marine conditions
• Limited access <strong>of</strong> 0% - 70%
Offshore wind energy requires substantially different technologies and processes
compared to onshore wind energy
22

EC&R – a market leader in <strong>of</strong>fshore wind energy
1 JV <strong>of</strong> EC&R (26.25%), EWE (47,5%) and Vattenfall Europe (26,25%) 2 JV <strong>of</strong> EC&R (30%), D<strong>ON</strong>G (50%) and Masdar (20%)
� E.<strong>ON</strong> is the only player amongst the global Top-10
<strong>Renewables</strong> companies with a strong position in
<strong>of</strong>fshore wind energy
More than 1,000 MW <strong>of</strong> <strong>of</strong>fshore wind farms in
operation and under construction in UK, Denmark
and Germany
First deep water, far-shore wind farm Alpha Ventus1 in operation (60 MW, Germany)
Phase 1 <strong>of</strong> world’s largest <strong>of</strong>fshore wind farm
London Array2 (1,000 MW) under construction
Unique, diversified project pipeline <strong>of</strong> 3.1 GW
� E.<strong>ON</strong> has so far invested about €1 bn into its
<strong>of</strong>fshore activities
� E.<strong>ON</strong>´s experience from its various projects sums
up to a strong <strong>of</strong>fshore wind expertise
23

Offshore plays a key role in EC&R strategy
Water
depth [m]
40
35
30
25
20
15
10
5
0
Scroby
Sands
Scarweather Sands
Blyth
Roedsand II
Nysted 1
20:20 Envelope
EC&R´s <strong>of</strong>fshore wind energy portfolio
Humber Gateway
Robin Rigg
Beta Baltic
London
Array 2
Arkona-
Becken
20:20 Envelope
Alpha Ventus 3
Delta
North Sea
Amrumbank
West
0 5 10 15 20 25 30 35 40
Bubble size
= 200 MW
Distance to shore [km]
In operation Under construction Under development
Our strategy is based on a stepwise
approach:
1 Joint Venture (JV) <strong>of</strong> EC&R (20%) and D<strong>ON</strong>G (80%), 2 JV <strong>of</strong> EC&R (30%), D<strong>ON</strong>G (50%) and Masdar (20%), 3 JV <strong>of</strong> EC&R (26.25%), EWE (47,5%) and Vattenfall Europe (26,25%)
EC&R´sstrategy
� Develop <strong>of</strong>fshore wind energy across a
range <strong>of</strong> projects and locations
� Build capability in least challenging
conditions first
� Continuous learning and improvement
from real projects out in the sea
� Develop improvements and solutions
across the whole value chain
� Translate all learnings into development <strong>of</strong>
the next level <strong>of</strong> challenge
24

EC&R Offshore Road Map
A clear commitment to realize a range <strong>of</strong> options
Nordic
UK
Germany
Past Today Future options
Nysted (DK) 1
160 MW
Scroby Sands, 60 MW
Blyth, 4 MW
Cuxhaven
5 MW (test)
Rödsand 2 (DK)
210 MW
Robin Rigg
180 MW
Alpha Ventus 3
60 MW
London Array 2
630 + 370 MW
1 Joint Venture (JV) <strong>of</strong> EC&R (20%) and D<strong>ON</strong>G (80%), 2 JV <strong>of</strong> EC&R (30%), D<strong>ON</strong>G (50%) and Masdar (20%), 3 JV <strong>of</strong> EC&R (26.25%), EWE (47,5%) and Vattenfall Europe (26,25%)
Swedish Offshore
UK Offshore
German far-shore Projects
25

The <strong>Renewables</strong> <strong>business</strong> – Our core beliefs
E.<strong>ON</strong> <strong>Climate</strong> & <strong>Renewables</strong> – Strategy & track record
Business Spotlight – Offshore Wind
Conclusion
Back-Up
26

EC&R has continued its strong delivery and will stay the
c<strong>our</strong>se for industry leadership
� The strong expansion <strong>of</strong> EC&R´s activities is supported by major investments <strong>of</strong>
€8 bn by 2011
� A quarter <strong>of</strong> E.<strong>ON</strong>´s generation investments 2010/2011 goes into renewable
energy
� EC&R will further extend its renewable generation from 2.9 GW today to about
10 GW in 2015
� Portfolio discipline and operational excellence as key success factors
� <strong>Renewables</strong> have become a core activity <strong>of</strong> the E.<strong>ON</strong> group
27

The <strong>Renewables</strong> <strong>business</strong> – Our core beliefs
E.<strong>ON</strong> <strong>Climate</strong> & <strong>Renewables</strong> – Strategy & track record
Business Spotlight – Offshore Wind
Conclusion
Back-Up
28

Assets in operation: Germany (Wind)
Onshore wind
Biogas
Biomethane**
Office
13
8
Düsseldorf
Essen
5
10 Potsdam
11
3 7
* E.<strong>ON</strong> Equity MW (Figures rounded). S<strong>our</strong>ce E.<strong>ON</strong>
** Biomethane production is not included in the overall MW portfolio.
(Project/Location: Schwandorf; Net capacity: 95 GWh/a ; Status: in operation; Year: 2008)
12
9
14
13
2 15
18
20
6
4
1
Munich
17
16 19
21
Project
(Location)
Net capacity
MW*
Year
1 Brandenburg 50.8 2001
2 Mecklenburg
Vorpommem
36.7 2001
3 Sachsen <strong>An</strong>halt 19.9 2002
4 Sachsen 23.6 2004
5 Kessin 0.4 2002
6 Schönerlinde 0.8 2002
7 Riethnordhausen 7.4 2007
8 Rheiner Windpark 2.5 2002
9 Dargelütz 22.0 2006
10 Helmstedt-Treue 8.0 2005
11 Treue-Ost 8.0 2007
12 Cuxhaven 2.5 2006
13 Alpha Ventus 16.0 2009
Total (MW) 198.6
29

Assets in operation: Germany (Biogas)
Onshore wind
Biogas
Biomethane**
Office
8
Düsseldorf
* E.<strong>ON</strong> Equity MW (Figures rounded). S<strong>our</strong>ce E.<strong>ON</strong>
** Biomethane production is not included in the overall MW portfolio.
(Project/Location: Schwandorf; Net capacity: 95 GWh/a ; Status: in operation; Year: 2008)
12
Essen
5
22
10 Potsdam
11
3 7
9
14
13
2 15
18
20
6
4
1
Munich
17
16 19
21
Project
(Location)
Net capacity
MW*
Year
13 Ducherow 0.9 2008
14 Malchin 3.7 2007
15 Roggenhagen 0.1 2005
16 Fürstenwalde 0.5 1999
17 Hasenwinkel 0.4 2007
18 Ketzin 0.7 2007
19 Sauen 0.4 2007
20 Kaakstedt 0.8 2006
21 Sembten 1.6 2008
22 Havelberg 0.4 2009
Total (MW) 9.5
30

Assets in operation: France
2 5
Onshore wind
Solar PV
Office
* E.<strong>ON</strong> Equity MW (Figures rounded). S<strong>our</strong>ce E.<strong>ON</strong>
1
Paris
3/4
6
Project
(Location)
Net capacity
MW*
Year
1 Lehauc<strong>our</strong>t 6.5 2007
2 Ambon 6.5 2008
3 LV Cernon 6.5 2008
4 CE Cernon 2.4 2008
5 Muzillac 6.5 2008
6 Le Lauzet (solar) 1.0 2009
Total (MW) 29.4
31

Assets in operation: Iberia (Spain)
10
11 6
Onshore wind
Biogas
Small hydro
Office
13
* E.<strong>ON</strong> Equity MW (Figures rounded). S<strong>our</strong>ce E.<strong>ON</strong>
9
Madrid
12
3
5
4
8
7
1/2
Project
(Location)
Net capacity
MW*
Year
1 Juneda (Lerida) 4.3 2001
2 VAG (Lerida) 6.0 2004
3 Giribaile (Jaén) 20.0 2007
4 E2I project (Murcia) 5.3 1959
5 Ascoy 1.5 1998
6 Bodenaya 18.0 2005
7 Zaragossa 125.6
8 Carcelén 11.4 2004
9 Páramo de Poza 15.0 2002
10 Pax 19.2 1997
11 Pico Gallo 24.4 2001
12 Mingorrubio 26.0 2009
13 Sierra de Tineo 44.0 2009
Total (MW) 320.7
32

1
2
Assets in operation: Iberia (Portugal)
3
Lisbon
Onshore wind
Office
* E.<strong>ON</strong> Equity MW (Figures rounded). S<strong>our</strong>ce E.<strong>ON</strong>
Project
(Location)
1 Joguinho
(Torres Vedras)
Net capacity
MW*
Year
11.7 2006
2 Alto Folgorosa 8.1 2008
3 Espinhaço de Cão 10.0 2008
Total (MW) 29.8
33

Assets in operation: Italy
1
Milan
Onshore wind
Office
* E.<strong>ON</strong> Equity MW (Figures rounded). S<strong>our</strong>ce E.<strong>ON</strong>
5
Rome
3
2
4
7
6
8/9
Project
(Location)
Net capacity
MW*
Year
1 Florinas 20.0 2004
2 Vizzini 24.0 2006
3 Trapani 32.0 2007
4 Montecute 44.0 2006
5 Poggi Alti 20.0 2006
6 Marco A. Severino 44.0 2007
7 Iardino 14.0 2005
8 Serra Pelata 42.0 2007
9 Piano di Corda 38.0 2007
Total (MW) 278.0
34

Assets in operation: Nordic
Onshore wind
Offshore wind
Office
* E.<strong>ON</strong> Equity MW (Figures rounded). S<strong>our</strong>ce E.<strong>ON</strong>
2
1
3
Malmö
Project
(Location)
1 Southern
Sweden
2 Nysted 1
(Gedser)
3 Lilla Siglajvs
1 & 2
Net capacity
MW*
Total (MW) 57.3
Year
20.6 2001-2007
33.1 2003
3.6 2009
35

Assets in operation: North America
6
2
1
Onshore wind
Office
4
8
5
7
Austin
* E.<strong>ON</strong> Equity MW (Figures rounded). S<strong>our</strong>ce E.<strong>ON</strong>
Chicago
9
10
3
Project
(Location)
1 Forest Creek
(Texas)
Net capacity
MW*
Year
124.2 2007
2 Sand Bluff (Texas) 90.0 2008
3 Munnsville
(New York)
34.5 2007
4 Roscoe (Texas) 209.0 2008
5 Champion (Texas) 126.5 2008
6 Panther Creek
(Texas)
7 Inadale Ph 1/2
(Texas)
458.0 2008
197.0 2008/
2009
8 Pyron (Texas) 249.0 2009
9 Papalote (Texas) 180.0 2009
10 Stony Creek
(Pennsylvania)
Total (MW) 1,720.7
52.5 2009
36

Assets in operation: Poland
Szczecin
Onshore wind
Office
* E.<strong>ON</strong> Equity MW (Figures rounded). S<strong>our</strong>ce E.<strong>ON</strong>
1 2
Project
(Location)
Net capacity
MW*
Year
1 Lebcz 1 (Danzig) 5.9 2007
2 Lebcz 2 (Danzig) 7.4 2008
Total (MW) 13.3
37

Assets in operation: UK (Part 1)
Onshore wind
Offshore wind
Biomass
Office
2 11
17
Coventry
18
* E.<strong>ON</strong> Equity MW (Figures rounded). S<strong>our</strong>ce E.<strong>ON</strong>
5
14
15
22
4
10
1
7
8
6
9
13 16
20
12
19
3
21
Project
(Location)
Net capacity
MW*
Year
1 Askam (Cumbria) 4.6 1999
2 Bessy Bell
(Northern Ireland)
5.0 1995
3 Blood Hill (Norfolk) 2.3 1992
4 Bowbeat (Scotland) 31.2 2002
5 Deucheran Hill
(Kintyre Peninsular)
6 Great Eppleton
(Northumberland)
7 Holmside
(County Durham)
8 High Volts
(County Durham)
9 Hare Hill
(County Durham)
repower
15.8 2001
5.1 2004
7.8 2004
5.1 2004
10 Lowca (Cumbria) 4.6 2000
Total (MW) 81.5
38

Assets in operation: UK (Part 2)
Onshore wind
Offshore wind
Biomass
Office
2 11
17
Coventry
18
* E.<strong>ON</strong> Equity MW (Figures rounded). S<strong>our</strong>ce E.<strong>ON</strong>
5
15
14
22
4
10
1
7
8
6
9
20
13 16
12
19
3
21
Project
(Location)
Net capacity
MW*
Year
11 Oldside (Cumbria) 5.4 1996
12 Out Newton
(Northumberland)
13 Ovenden Moor
(Yorkshire)
9.1 2002
4.6 1993
14 Rheidol (Wales) 2.4 1997
15 Rhyd-y-Groes (Wales) 3.6 1992
16 Royd Moor (Yorkshire) 3.3 1993
17 Siddick (Cumbria) 4.2 1996
18 St. Breock (Cornwall) 5.0 1994
19 Stags Holt
(Cambridgeshire)
18.0 2007
20 Blyth (Northumberland) 4.0 2000
21 Scroby Sands
(Great Yarmouth)
60.0 2004
22 Steven’s Cr<strong>of</strong>t (Lockerbie) 44.0 2008
Total (MW) 163.6
39

Projects under Construction
Project Country Technology Net capacity (MW*) Planned COD
Wielkopolska Poland Onshore Wind 48.0 2009
Barzowice I Poland Onshore Wind 20.7 2009
Great Eppleton (repower) UK Onshore Wind 8.0 2010
Robin Rigg UK Offshore Wind 180.0 2010
Rodsand 2 Denmark Offshore Wind 207.0 2010/11
La Victoria Spain Onshore Wind 24.0 2010
Matabuey Spain Onshore Wind 14.4 2009
Barao Sao Joao (PEB) Portugal Onshore Wind 45.0 2009
London Array UK Offshore Wind 189.0 2013
Le Lauzet II France Solar PV 2.5 2009
Total (MW) 738.6
* E.<strong>ON</strong> Equity MW (Figures rounded). S<strong>our</strong>ce E.<strong>ON</strong>
40

This presentation may contain forward-looking statements based on current assumptions and
forecasts made by E.<strong>ON</strong> Group management and other information currently available to E.<strong>ON</strong>.
Various known and unknown risks, uncertainties and other factors could lead to material
differences between the actual future results, financial situation, development or performance <strong>of</strong>
the company and the estimates given here. E.<strong>ON</strong> AG does not intend, and does not assume any
liability whatsoever, to update these forward-looking statements or to conform them to future
events or developments.
41