ENEX Renewable projects in Europe, Americas & Asia

1. ENEX Renewable projects in Europe, Americas & Asia www.enex.is

2. Content • Overview of Enex • Current projects • Enex Binary Plant www.enex.is

3. This is Enex Export of Know-how in the Geothermal and Hydroelectric Sectors Enexis owned by Icelandic energy companies that been involved in geothermal development for over 70 years The company has a has world leading geothermal expertise and experience that it puts to use when designing geothermal solutions. Enex was established to co-ordinate ongoing efforts of the shareholding companies to export geothermal and hydropower knowledge and experience Geothermal drilling at the 210 MWe Hellisheidi CHP Plant 690 MWe Kárahnjúkar Hydropower Project www.enex.is

4. Affiliates Affiliates in cooperation with local partners: • Enex Deutschland GmbH, Germany • Enex Power GmbH, Germany • Enex Kína ehf, China • Iceland America Energy Co. (IAE Corp.), USA • Slovgeoterm a.s., Slovakia • Enex Sobrance s.r.o., Slovakia • Enex Trebisov s.r.o., Slovakia • Enex Vranov s.r.o., Slovakia www.enex.is

5. What we do • Binary Power Plants • Flash Steam Power Plants • Geothermal District Heating Systems • Small to Medium Size Hydropower Plants Simplified schematic, geothermal flash steam power plant Tunnel drilling at Kárahnjúkar Hydropower Plant www.enex.is

6. Approach • Solution Provider • Providing the equipment, research, expert technology, engineering and installation • EPC turnkey contracts • Lead Investor • Design, build and operation • Contracts on BOOT, BOO or BLT terms • Joint Venture • Team up with local partners to develop projects Geoscientific research Geological surveying, high temperature area S-Iceland www.enex.is

7. This is Enex Enex’s owners are Europe’s largest geothermal and hydro developers • For the last 20 and foreseeable for the next 20 years We offer a work force of 400 experts • 100 geoscientists and 300 specialized engineers Iceland runs the UNU (United Nations University) Geothermal Program • Network of 340 fellows from developing countries • Helping the development of geothermal potential since 1979 www.enex.is

8. Enex’s Shareholders • Geysir Green Energy • Reykjavik Energy • - National Power Company • Iceland Drilling • Iceland GeoSurvey • New Business Venture Fund • VST Consulting Engineers + more than 30 other engineering, design and consulting firms specialized in geothermal, district heating and hydropower projects. www.enex.is

9. Geothermal Power Plants Krafla 60 MWe Geothermal Power Plant Owner: National Power Co. Svartsengi 46 MWe – 150 MWth Combined Heat & Power Geothermal Plant Owner: Sudurnes District Heating Nesjavellir 120 MWe - 300 MWth Combined Heat & Power Geothermal Plant Owner: Reykjavik Energy Reykjanes 100 MWe Geothermal Power Plant Owner: Sudurnes District Heating Hellisheidi 210 MWe - 400 MWth Combined Heat & Power Geothermal Project 90 MW in 2006, 33 MW added in 2007, 90 MW in 2008. Owner: Reykjavik Energy Krafla 60 MWe geothermal power plant Svartsengi 46 MWe CHP power plant www.enex.is

10. Current Projects • Germany • China • USA • Slovakia • Hungary • El Salvador www.enex.is

11. Germany Geothermal Combined Heat & Power Plants • Enex Deutschland GmbH has concession rights • Location: Southern Germany www.enex.is

12. Germany Geothermal Combined Heat & Power Plants • First project: 1 to 2 plants • Geothermal area: Geretsried / Wolfratshausen • Technology: • Binary Power Plant • Est. size: • 8 -15 MW Electric Power • 30 MW Heat • Temp: 150-170°C • Well depth: 4.000 - 5000 m. • Project schedule: 2007-2009 www.enex.is

13. China Geothermal District Heating • Location: Xianyang, China • Inhabitants: 4 million • Temperature: 90-110°C • District heating will serve roughly 500.000 people www.enex.is

14. China District heating in Xianyang city • Potential of becoming the world’s largest DH system in 2012-2015 • 15.000.000 m2 • First phase completed • Inauguration Dec., 2006 • Second phase • In construction • 2 years • Additional 700.000 m2 www.enex.is

15. USA Geothermal Power Plant • Projects of IAE Corp. • Subsidiary of Enex • Location: Truckhaven, Imperial Valley, South - California • Total size: 150 MW electrical power • Fluid temp: 180°C • Flash or combined flash- and binary power plant • Drilling estimated to start in 2007 www.enex.is

16. Slovakia Geothermal District Heating • 3 project companies founded with three municipalities • In cooperation with 3 municipalities, TZX s.r.o., Rafhönnun hf and Hönnun hf • Location: Eastern - Slovakia • Purpose: Feasibility reports on the use of geothermal areas for district heating www.enex.is

17. Hungary Binary Power Plant and/or District Heating • Joint Venture with; • MOL (Hungarian Oil & Gas Company) • Green Rock (Australian investment co.) • Location: Ortaháza, South-West Hungary • Temp: 141°C www.enex.is

18. El Salvador Berlin Geothermal area www.enex.is

19. El Salvador Binary Power Plant • EPCM contract signed in May 2005 • Buyer: LaGeo SA from El Salvador • ORC type • Size: 9.3 MW gross • Contract: $13 million • Plant in commissioning phase www.enex.is

20. El Salvador, Enex Plant Organic Rankine Cycle (ORC) ORC Power Plant utilizes 180°C geothermal fluid for electrical generation Simplified schematic of the ORC www.enex.is

21. Enex Binary Plant Key Benefits: • Knowledge in handling geothermal fluid • Flexibility in design • Operational Experience with Geothermal Power Plants www.enex.is

22. El Salvador August 2006 - Construction activity www.enex.is

23. Thank you for your time www.enex.is