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NER300Offshore Wind ProjectNordsee One (formerly Innogy Nordsee 1)

SET-Plan conferenceRome, 11. December 2014

Tobias GriesshaberPackage Manager Foundations & NER300

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Agenda

• General project overview

• Scope and technology

• Summary

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General overview of Nordsee One offshore wind farmA compelling offshore wind opportunity in one of the most favourable locations

Distance to shore 45 km

Water depth (LAT) 26 m – 29 m

Capacity 332 MW (54 x 6.15 MW)

Wind speed 9.8 m/s at hub height (90 m)

Yearly output 1.2 TWh

Unconditional grid connection

Confirmed for Q1 2015

TenneT Dolwin platform to be in service in Q1 2015

Permit BSH licence Q1 2012

Lifetime 25 years

Commissioning 2017 (2016 option) Installation base Operation base

O&M route:26 nm (48 km) CTV 1.5 hrs

Installation route:42 nm (77 km)

CTV 2.5 hrsInstall vessel 3-4 hrs

Nordsee One

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General overview of organisational and regulatory framework Project stakeholders of Nordsee One GmbH

Northland Power Inc.

RWEInnogy

Nordsee One GmbH

85% 15%

Lenders (& advisers)

BSH

BNetzA

TenneT (grid connection)

TenneT (Feed-in)

Offtaker (PPA)

Turbine (EPCI)

Foundation (Supply)

Foundation (Installation)

Substation(EPCI)

Infield cables (EPCI)

Financing

Revenue

5 main contracts

Public stakeholders

PPA (Market Value)

Feed-in(Market Premium)

Sponsors Lenders

EU-Com / BMWi (KfW)

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Brief history of ownership and NER300 contextA strong investor group

85% 15%

NPI: Experienced publicly traded IPP with thermal, solar and wind capacity (also involved in 600 MW Gemini offshore wind in Dutch waters)

RWE: European utility with significant experience in offshore wind development since 2003 with- North Hoyle- Gwynt y Mor - Nordsee Ost- C-Power

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RWE Innogy, the renewables branch of the utility RWE, has

filed the NER300 application for the German Innogy Nordsee 1

offshore wind project (332 MW) in 2011

N1: Experienced management team leads Nordsee One, where RWE joined up with NPI in 2014 to execute the project on a non-recourse project financed basis

4. September 2014

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Project scopeArea of responsibility covers all offshore works except the onshore transmission

• The project boundary is at the high voltage switchgear of its offshore substation: the transmission system operator (“TSO”), TenneT, is responsible for the cable to shore

OSP(Topside &

foundation)Offshore converter station (AC/DC) Onshore

substation (DC/AC)

Turbinefoundations

Array cables

Export cables (DC)

Export cables (AC)

N1 responsibility TSO responsibility

Turbines

Transport from Dubai to Norway in August 2014

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Wind turbine of 2nd generation 6MW categorySenvion 6M126 (6.15 MW) turbine

• A strong track record

• Largest 5 MW+ fleet in the world (154 turbines installed as of end-2014)

• Based on well proven technology

• Very pro-active in creating innovation and providing technical solutions

• A strong contractual package

• Full EPCI contract

• 10-year (+ 2 times 5-year option) full service O&M contract with 95% availability guarantee

• Specific comfort package to facilitate project financing and bankability

• Solid ring-fencing structure viz. Suzlon

• Commitments backed by bonds (advance payment, performance and warranty bonds)

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WTG foundations are fit-for-purpose MonopilesSimple structure developed to fit 6MW wind turbines

• N1 Monopile concept extending the current industry state-of-the-art

• 54 Monopiles support the Senvion 6.15 MW wind turbine, which has never been done before in the industry

• Taking the simple and effective Monopile concept to deeper waters and higher MW wind turbines with tailor-made solutions such as:

• Installation technique develop-ment by pilot project VIBRO to validate vibratory pile installation compared to impact-driving piles

• Bolted connection MP/TP as evolution of the grout filling

• New materials for boat landing and corrosion protection

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Summary• The offshore wind farm Nordsee One is about to reach FID and feed-in electricity

in 2016/2017 to provide power to more than 300.000 households, in accordance with the NER300 milestones

• EU public co-funding supports technology development and deployment: it places an incentivice for commercial deployment & scale solutions from laboratory, to pilot stage and then, if validated, to full-scale

• Financing and regulatory / certification constraints pose hurdles to innovation but make sure that technology is being deployed that is economic as well as safe to lower costs of energy in an uncompromised way

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Thank you for your attention