Edp S.a. · EURONEXT:EDP
Edp — Merger or Acquisition (December 2006)
9 slides from Edp's merger presentation, Dec 15, 2006
Slide 1: Acquisition of Agrupación Eólica
__ Acquisition of Agrupacién Edlica December 15'> 2006 neo energia
Slide 2: EDP acquired 100% of Agrupación Eólica
• EDP acquired 100% of Agrupación Eólica (“AE”) for €346 million equity value and €64 million of net debt and shareholder loans. • Total installed capacity of 155 MW and 1,044 MW in the pipeline under development split between France and Spain • In France, AE has 9 MW in operation, 36 MW under const
Slide 3: Total MWs France
Total MWs France* Authorized Development Installed Capacity Dec 2006 - MW Authorized Net MW 10.0 Net MW 40.0 Operational wind farms (Gross) 9.0 Net MW 9.35 Development Construction Total Pipeline - MW Net MW 63.0 Construction (Gross) 16 Net MW 12.0 Authorized (Gross) 63 Operational Development (Gros
Slide 4: Total MWs Spain
! Total MWs Spain * Castilla y León: Aragón: Operational (2,680 hours) Operational (3,081 hours) Installed Capacity Dec 2006 - MW Gross MW 9.0 Gross MW 137.3 Operational wind farms (Gross) 146 Net MW 5.4 Net MW 69.4 Development Authorized Gross MW 159.5 Gross MW 104.0 Total Pipeline - MW Net MW 83.0
Slide 5: Agrupación Eólica acquisition: regulatory framework and growth potential
! " # $ % $ % " Stable and attractive regulatory framework… …in a market with a sizeable growth potential • Low risk remuneration for projects due to fixed tariffs and • Current wind power installed capacity (1,000 MW) periods - Remuneration in France is based on a tariff fixed by compared to the ob
Slide 6: Synergies from consolidation of NEO and AE operations
! # %" % % Synergies from consolidation of NEO and AE operations* market share in wind still below conventional generation Asturias (Market Share in Installed Capacity – MW (Sep-06)) Galicia NEO 316 MW Aragón NEO 334 MW NEO 865 MW Conventional Regime AE 388 MW 30% Wind Including AE 28% 26% Acquisiti
Slide 7: Pipeline breakdown, capex estimates and EBITDA 2006 and 2010
& % " % Pipeline Breakdown (2007-2010) CAPEX Estimates 2007-2010 (€m) EBITDA 2006 and 2010 (€m) France 14 France 676 CAGR Spain 526 Spain 67,7% 305 407 94,1 369 221 531 269 154 188 19,8 215 343 Until 2010 2010 Solar Until 2010 2010 2006 2010 Onwards Energy Onwards Wind Wind turbine turbine contracts
Slide 8: The acquisition supports NEO's growth prospects
"% $ %%" NEO (Strategy Presentation – July 2006) NEO + Agrupación Eólica France 9% France 1% Spain 74% Spain Portugal Portugal 70% 21% 25% Gross MW (operating + 100% of pipeline) = 3,982 MW Gross MW (operating + 100% of pipeline) = 5,271 MW The The acquisition acquisition of of Agrupación Agrupación
Slide 9: Reinforcement of EDP's strategic objectives in renewables
&' ( " $ 1 Platform to grow in the French market 2 Take advantage of consolidation synergies in the Spanish market 3 High quality assets and experienced local management teams 4 Reinforcement of EDPs strategic objectives in renewables The acquisition of Agrupación Eólica represent a significant leap