20110509 Benbw Brief

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Istanbul

9 May 2011

BORUSAN EnBW Enerji

Brief Introduction:

Who we are?

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INDEX

Borusan EnBW Partnership

Borusan Holding

EnBW AG

Strategic Focus & Targets

Values Processes

Organigram

Projects

1

2

3

5

6

78

9

10

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Conclusion of Negotiations

25 APR 09

Sign of

PartnershipAgreement

31.JUL 09Closing

BORUSAN AND ENBW PARTNERSHIPFIRST CONTACT DURING 2008 DAVOS SUMMIT

2

50% 50%

Borusan Holding A.S. EnBW Holding A.S.

Established in 2007 as the energy arm

of Borusan Holding Borusan Enerji

intends to be a leading player focusedon renewable energy in the rapidly

developing Turkish electricity

generation sector.

EnBW Holding A.S was established in2009 in Ankara as a 100% subsidiary of

EnBW AG and its representative

company in Turkey.

Partnership Agreement was signed in

April 2009.

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PARENT COMPANIESBORUSAN HOLDING

Market leadership

(1st or 2nd in the TR business segments)

One of the top 5 most admiredconglomerates in Turkey

Extensive use of modern management

tools (6 sigma, Strategy Execution, VOC)

Number of employees: 5.304

Young team(average age of top 40 people : 40)

Founded in 1944

Kocabıyık Family 100% owner of Borusan Holding

Conglomerate strategy with B2B focus Growth with partners (mostly 50/50)

Strong export culture ( 09 exports

615 m$ to over 50 countries)

Operating in 8 countries

3

BMW / Mini Land Rover

Caterpillar

1,848 m USD 1,335 m USD 276 m USD 6 m USD 23 m USD

STEEL DISTRIBUTORSHIP LOGISTICS ENERGY OTHERS

Steel PipeFlat Steel Port Operations

3 PL integrated

logistics services

Renewable Energy

Generation

News investments in

hydro plants and wind

farms

Engine

valvesUsed

car

auction

BORUSAN HOLDING 2010 CONSOLIDATED REVENUES – 3,5 b $

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PARENT COMPANIESEnBW – ENERGIE BADEN-WURTTEMBERG AG

Third-largest energy company in Germany

Business segments: generation & trading,

grid & sales, gas, energy and envir. services

Annual revenue 2010: in excess of € 17 bn

Generation Capacity: 15.498 MW

Generation by resources

Customers: some 6 million

Employees: more than 20,000

4

EnBW group 2010 2009

Fossil energy % 34 29

Nuclear power % 51 55

Renewable energies % 11 11

Other % 4 5

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STRATEGIC FOCUS AND TARGETS JV HAS A PREDEFINED TARGET: 2000 MW INSTALLED CAPACITY BY 2020 WITH A RENEWABLE FOCUS

Critical Year

to lay thefoundations

of thecompany

20111000 MWlicensedprojects

20141000 MWinstalledcapacity

20162000 MWinstalledcapacity

2020

Target activity area includes allenergy sources except nuclearpower

Target activity area includes thewhole value chain*

46%54%

25%

25%

50%

OthersWindHydro

Current Portfolio

(711 MW)

Target Portfolio

(2.000 MW)

5

*Transmission is under state monopoly and will likely continue to be in the future. Distribution is not at the focus in the short or medium term.

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JV PROJECTSBANDIRMA WEPP IS IN OPERATION & YEDİGÖL/AKSU HEPP WILL PUT INTO OPERATION IN 2011

Tunceli

Erzurum

Ordu

Çanakkale

Hatay

Ankara

Balıkesir

Sinop

Fatsa45 MW

Kaletepe60 MW

Bozkaya32 MW

Bursa

Kırmızılar 45 MW

Bandirma60 MW

Çınarpınar 50 MW

Elmalı 50 MW

İnceburun35 MW

Mut50 MW

Şenbük 30 MW

Koru50 MW

Harmanlık12 MW

Mersin

YedigölAksu

50 MW

Giresun

Alara

138 MW

Under construction

Operating

6

Wind

Wind - 1st November applications

Hydro Dam

Hydro RoR

OPTIONAL

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BANDIRMA WEPPBANDIRMA WEPP’S 2010 GENERATION IS 161,2 GWh

BANDIRMA ENERJİ

Project Type WEPP

License/Maturity Status

Location Bandırma – Balıkesir

CAPEX 110 mUSD

Installed Capacity

(MW)

60 MW

Net Annual Generation

(GWh)

161.2 GWh (budgetted annual generation 177,7 GWh

Availability 98,03 % (2010 value, max 100, min 52,4, stdev: 4,8%)

Recent Developments Carbon Certificates; stakeholders meeting has completed

30.12.2010. Carbon certificates under validation level.

Validation process will be finished 2011 June.

Licence

Date

BEE Acquisition

Date

Investment Start Generation

Start

31.12.2007 Apr. 2008 Sept. 2008 Sept. 2009

7

OPTIONAL

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YEDİGÖL AKSU HEPP YEDİGÖL AKSU HEPP IS PLANNED TO BE OPERATIONAL IN 2011

YEDİGÖL - AKSU

Project Type Hydro

License/Maturity Status Licenced

Location Erzurum - İspir

Basin Çoruh River – Aksu Branch

CAPEX 104 mUSD (estimated CAPEX)

Installed Capacity

(MW)

50


(GWh)

135

Recent Developments Main construction works started in 2009.

Preliminary Acceptance of Yedigöl HEPP was

presented to Ministry of Energy and Natural

Resources and General Directorate of State

Hydraulic Works for approval and temporary

admission.

Timeline Start of Construction (Service Roads) Q3 2008

Commissioning Yedigol Q2 2011

Commissioning Aksu Q3 2011

8

OPTIONAL

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FATSA HEPPFATSA HEPP

9

FATSA

Project Type Hydro

License/Maturity Status License approval will be completed with the initial design.

Location Ordu

Basin -

CAPEX 90,4 m USD (estimated CAPEX)

Installed Capacity

(MW)

45,3


(GWh)

175

Recent Developments Main construction works started in 2009. JV is

proceeding with site investigations, final design and

detailed engineering.

Grid connection approval is completed.

License approval will be completed with the initial

design.

Environmental & social impact pre-assessment is

completed with a special consultant (AECOM).

Communication strategy is defined and stakeholder

Engagement Plan is established (ENCORE).

Site visit is done & initial courtesy visits to local

authorities started in line with the plan.

Timeline Start of Construction Q4/2012

Commissioning Q3/2015

OPTIONAL

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Thank you…

20110509 Benbw Brief

Documents

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