Dan Finch Moray Offshore Renewables Ltd

DELIVERING ROUND 3 Inverness 2nd February 2010 MORAY FIRTH OFFSHORE RENEWABLES Ltd.

Moray Offshore Renewables Ltd 3 Introduction 1.Presenting the partnership 2.Committed to deliver 3.The Moray Firth (Zone 1) key issues 4.Delivery plan 5.Key challenges for Round 3 6.How to contact us?

Moray Offshore Renewables Ltd 4 Presenting the Partnership… Strong and Clear Commitment EDP Renewables: #4 in renewables worldwide with a total installed capacity ~6 GW €2.0 bn per annum development budget Presence in 9 countries on 3 continents €1.6 bn IPO, largest in Europe in 2008 The Partnership The strengths SeaEnergy Renewables: Scottish based world class team with decades of offshore Oil&Gas experience– development, construction, installation, O&M Conceived, developed and delivered the Beatrice Demonstrator Project Two sites awarded in Scottish Territorial Waters Round (1,825 MW) Unique Deepwater Capabilities Proven track record for Delivery and Operating at Scale The Crown Estate: Decades of experience as Stewards of the UK Seas and Coastline Top quality professionals from the offshore and energy sector 1 2 3

Moray Offshore Renewables Ltd 55 EDPR: a pure wind player with a sound asset base… - MW Installed Capacity MW Under Construction 427 2, , Spain USA Portugal France Belgium Poland Romania Brazil 18,062 1, ,999 1, , Installed Capacity Under Construction Pipeline + Prospects Gross MW 5,5771,29328,587 MW Pipeline + Prospects

Moray Offshore Renewables Ltd 6 To be at the forefront in the application of marine renewable technologies To be the recognized leader in marine renewable energy To develop a portfolio of 3-5 GW in 3-5 years, generating within 10 years To own net interests of 1GW within 5 years To create enterprise value of >£500 million within 5 years SeaEnergy Renewables: the partner of choice in offshore power generation Business goals

Moray Offshore Renewables Ltd 7 …Committed to Deliver… Dedicated to offshore renewables Engineering and Offshore project management skills Fabrication, installation and O&M expertise offshore Experience in licensing and permitting in offshore Scotland Proven stakeholder management success Local and highly specialised professionals to complement and accelerate program roll- out Sourcing know-how from the oil & gas sector SeaEnergy Renewables Supply Chain 700+ professional fully dedicated to wind Financial commitment of €2 bn/year for wind farm construction #1 client of Vestas and in the top- 3 of Enercon, Gamesa and GE Best-in-class energy yield with a 30 people strong team with more than 10 years of experience Engineering & Construction capability O&M team of 150 professionals and State of the art Control & Operation Center EDP Renewables Commitment to deliver UK R3 Experience in Stakeholder management The Crown Estate

Moray Offshore Renewables Ltd 8 …the Moray Firth (Zone 1) Cumulative & In-combination impacts with STW Marine Mammals, Birds, Nature Conservation, Radar & Aviation, Shipping, Fisheries Grid Onshore & Offshore Impact on SAC & SPA features Potential key spatial conflicts: Fisheries, MOD (inc radar), Shipping, aviation Seabed features and soils Water depths, wrecks, UXO, sandwaves, & Soils Ports/Harbours Oil & Gas Zone 1 potential development areas 1 Capacity: 1,300MW Area: 530 km 2 Avg. depth: 35-55m Avg. shore distance: 26 km Development budget: ~ £40m Key figures Zone 1 key constraints

Moray Offshore Renewables Ltd 9 Commence consenting activities in 2009 to protect the schedule Early engagement of supply chain to secure delivery Realistic durations for offshore scope including weather downtime Dedicated vessel spreads for each development within the zone Grid connection required in MW first generation Q ,3 GW fully operational Q Delivery Plan… Programme Summary Key milestones Sign ZDA Apply for consent Gain consent Financial Close Grid connection required Technical FEED & Concept Selection Detailed design Procurement Engage Supply Chain Award Major Contracts Onshore fabrication Offshore installation Operations First generation Zone fully operational Activity

Moray Offshore Renewables Ltd 10 Key Challenges for UK Round 3 1. Supply Chain High resource competition, availability of people, vessels and primary equipment Constrained current capacity for development of Support Bases, Ports and Harbours 2. Funding & Finance Provide long-term and scale commitment with high uncertainty 3. Grid Lack of suitable connection to grid 4. Environment Establishing cumulative & in-combination environmental impact (regional and beyond) 5. Operations & Maintenance Scale, distance from shore, operation & maintenance Challenges Early Engagement and Leverage on EDPR logistics and procurement scale Our Approach Board Commitment and Focus on Project Viability Engagement and transparency with Stakeholders Early Application and Full Collaboration with 3rd Parties Leverage on EDPR 15 years and WTGs experience

Moray Offshore Renewables Ltd 11 How to contact us? 1. MORL office is located in Edinburgh An additional office in the Inverness area is planned A dedicated web portal is under preparation 2. Supplier candidates Provide your contact details to 3. Press and communication  Please contact Current points of contact

Moray Offshore Renewables Ltd