VB/Research Ltd. © 2010 All rights reserved Global Clean Energy Review 3Q10 Press pack VB/Research Ltd. © 2010 All rights reserved

Contacts For any questions regarding the information contained herewith or request additional data / information, please contact: Douglas Lloyd, CEO Clean Energy pipeline Douglas.lloyd@vbresearch.com +44 (0) 20 7251 8000 London Rashmi Nelson Rashmi.nelso@vbresearch.com +1 516 801 0536 New York Note: This material is protected by UK and international copyright. You may reproduce this material citing “Clean Energy pipeline” as a source. Clean Energy pipeline is a division of VB/Research Ltd.

Global Venture Capital & Private Equity Investment 1Q09 – 3Q10 ($ bn) Source: Clean Energy pipeline

Top 10 Venture Capital Early-stage Transactions 3Q10 Company Country Amount ($million) Sector KiOR Inc. USA 110.0 Biofuels Trilliant Inc. 106.0 Energy Efficiency eHi Car Rental Co. Ltd. China 70.0 Green Transportation CT&T United South Korea 60.0 Smooth-Stone Inc. 48.0 Nexant Inc. 43.0 32.5 Geothermal Plant (35MW) - Neal Hot Springs 23.8 Other Renewables & Clean Energy (Geothermal) NuvoSun Inc. 23.2 Solar EcoMotors International 23.0 Source: Clean Energy pipeline

Top 10 Venture Capital Late-stage Transactions 3Q10 Company Country Amount ($million) Sector Solaria Corp. USA 65.0 Solar Solazyme Inc. 52.0 Biofuels Mascoma Corporation 50.0 Bhilwara Energy Limited India Other Renewables & Clean Energy (Hydro) CellFor Inc. Canada 35.0 Agriculture BrightSource Energy Inc. 30.0 Xtreme Power Inc. 29.5 Energy Storage Nanosys Inc. 25.0 Advanced Materials & Technologies SolarCity Corp. 21.5 Ceres Inc. 20.0 Source: Clean Energy pipeline

Top 5 Private Equity Development Capital Transactions 3Q10 Company Country Amount ($million) Sector Omega Energia Brazil 203.9 Other Renewables & Clean Energy (Hydro) Plasco Energy Group Inc. Canada 110.0 Biomass e-Gen Ltd. UK 75.9 Wind Enfinity NV Belgium 56.0 Solar Monsal Ltd. 21.6 Source: Clean Energy pipeline

Top 5 Buyout Transactions 3Q10 Company Country Amount ($million) Sector Moser Baer Projects Pvt. Ltd. India 300.0 Solar Mallinckrodt Baker Inc. USA 280.0 Tyco Waterworks Europe GmbH Germany 245.0 Water & Waste Water Treatment Hydroelectric Plants (48MW) Canada 110.9 Other Renewables & Clean Energy (Hydro) Wind Farms (46MW) 85.8 Wind Source: Clean Energy pipeline

Global Venture Capital Investment 3Q08 to 3Q10 Source: Clean Energy pipeline

Global VC investment by sector 3Q10 Notes: VC Early-stage: up to Series C or equivalent. VC Late stage: Series D or equivalent and above. Undisclosed deal values have been estimated. Source: Clean Energy pipeline

VC investment – North America 2Q09 - 3Q10 Notes: VC Early-stage: up to Series C or equivalent. VC Late stage: Series D or equivalent and above. Undisclosed deal values have been estimated. Source: Clean Energy pipeline

VC investment – Europe 2Q09 - 3Q10 Notes: VC Early-stage: up to Series C or equivalent. VC Late stage: Series D or equivalent and above. Undisclosed deal values have been estimated. Source: Clean Energy pipeline

Global VC investment – by Stage 3Q10 Source: Clean Energy pipeline

Global Project / Asset finance 1Q09 - 3Q10 Notes: Includes completed financing transactions. Undisclosed deal values have been estimated. Source: Clean Energy pipeline

Project finance – Cost per MW - Global 2009 - 2010 Technology 2009 ($million) 2010 ($million) Change over 2009 Wind – Onshore 2.34 2.25 -4% Wind - Offshore Wind 4.13 3.63 -12% Solar – Photovoltaic 6.51 5.72 Solar - Thermal 10.96 6.85 -38% Biomass 4.28 3.28 -23% Source: Clean Energy pipeline

Markets – relative performance 2009 - 2010 Source: Clean Energy pipeline

Top 5 Public Market transactions 3Q10 Company Country Amount ($million) Type Exchange Molycorp Minerals LLC USA 394 IPO New York Stock Exchange Avago Technologies Ltd. 304 Secondary NASDAQ JSC RusHydro Russia 298 Moscow Interbank Currency Exchange Risen Energy Co., Ltd. China 276 Shanghai Stock Exchange Trony Solar Holdings Ltd. 224 Hong Kong Stock Exchange Source: Clean Energy pipeline

Global M&A activity 1Q07 - 3Q10 Notes: Includes completed financing transactions. Undisclosed deal values have been estimated. Source: Clean Energy pipeline

Top 5 M&A transactions 3Q10 Target(s) Country Total Disposition ($million) Sector(s) Acquirers(s) Africana Energía SL Spain 414.3 Solar / Wind / Biomass / Biofuels /Hydro Ortiz Construcciones y Proyectos SA, TSK Group Green Mountain Energy Co. USA 350.0 Carbon NRG Energy Inc. Recurrent Energy Inc. 305.0 Solar Sharp Corp. Combined Cycle Power Plant (400MW) - Plana del Vent, Spain 252.7 Co-generation Alpiq Holding AG Cellulosic Biofuels Division (Verenium Corp.) 109.1 Biofuels BP Biofuels North America LLC Source: Clean Energy pipeline

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