The Product

Blue Lines offer a service which makes it possible to his customer to produce renewable photovoltaic electricity.

These include:

• Engineering & Construction

• Maintenance & Operating

• Financing

The benefit for the customer

•The customer produce and use renewable electricity

• Has a reduction on its invoice of electricity

And this, WITHOUT MAKING ANY INVESTMENT

• Fix a part of his electricity price for 30 years

• In the long term he becomes owner of the installation

• Make his roof profitable

Management Team

Jean-Claude Doesburg

• 10 … Administrateur Blue Lines• 99 09 CEO Pulsations H&S• 91 99 CEO Ideonic Europe • 87 91 Support Manager Mannesmann I.T• 82 85 Analyste IT (médical)• 80 82 Pilote de ligne

Nicolas Doesburg

• 10 … Administrateur Blue Lines • 07 -09 Management Trainee at Ormit• 02 - 07 Master Ing. Commercial Solvay Business School (VUB)

Eric Thomas2010 Consultant FINANCIER Bluelines

SUEZ Group SITA Belgium ( ex Watco)01/2004 – 02/2005 Administrateur Délégué de la Holding02/1989 – 12/2003 Directeur Financier

Compagnie Européenne de Chauffe09/1986 – 12/1989 Directeur Financier Adjoint

UNILEVER Group Hartog1984 – 1986 Export Administration Manager1982 – 1984 Management Accountant1981 – 1982 Product ManagerUnilever Belgium1979 – 1981 Internal Auditor

Ingénieur Commercial et de Gestion à l’Université Catholique de Louvain ( UCL )1979 - grade: Distinction

Blue Lines Production Cyle

Find projectsFind projects EngineeringEngineeringConstruction

& installation

Construction &

installation

Operate & Maintenance

Operate & Maintenance

Sell Green CertificateSell Green Certificate

Blue Lines want to control the entire production cycle, while creating a network of partners for the engineering and the construction of PV plants.

The model

Acquisition

• logistics and distribution

• Purchase

• Infrastructure

• Inverters

• PV

Acquisition

• logistics and distribution

• Purchase

• Infrastructure

• Inverters

• PV

Project management

• Engineering • Permitting • Management of the implementation

Project management

• Engineering • Permitting • Management of the implementation

Support

• Energy production

• Management and maintenance of the systems

•Broking green Certificates

Support

• Energy production

• Management and maintenance of the systems

•Broking green Certificates

CustomersCustomers

Financial mechanism of Blue Lines

Incomes of the maintenance & contract (+/-20%)

- Repayment of Principal & Interest - Repayment of Principal & Interest

- Maintenance Cost

CASH IN CASH IN

Sale of the Green Certificates (+/- 80%)

Mechanism of the Green Certificates

Regulator (BRUGEL, CWAPE, …)

Green electricity producers

Electricity Providers

Grant the Green Certificates

Impose a quota of CV

Sell the Green Certificates

Note: No public financial flow (no tax, nor subsidy)

Revenues

Region Multiplier Market price

Year of granting

Ct/kWh

Bruxelles 3,63 80-93 10 30,85 ct/kWh – 34,48 ct/kWh

Wallonie 4 75-85 15 32,00 ct/kWh – 34,00 ct/kWh

Flanders 1 330 20 33,00 ct/kWh

Contract= +/- 8 ct/kWh

38 ct/kWh - 42,00 ct/kWh

Sale of the Green Certificates (+/- 80%)

Incomes of the maintenance & contract (+/-20%)

Quota of green Certificates RBC

= 2.5% of the 5,764,099 MWh provided in 2009 in RBC

2005 2006 2007 2008 2009 2010 2011 2012

CV granted 7.980 16.519 19.983 27.133 34.652

Quota 2,25% 2,50% 2,50% 2,50% 2,50% 2,75% 3,00% 3,25%

Cv to return 88.610 101.745 114.872 144.980 144.102 158512,7 172923 187333,2

% CV BXl 9% 16% 17% 19% 24%

% Missing 91% 84% 83% 81% 76%

Starting from 2010, the quotas will increase by 0.25% a year

Installation of Min. 150.000 PV

Objective: Directive EU 13% in 2020 …

Source: Brugel

Price of the CV in RBC

The green Certificates are sold to the electricity provider The market price take place between 80 € and 91 €.

Penalty of 100 € by CV lack.

Source: Brugel

Market & Opportunity in RBC

Total N < 500 m² 500m-2000m 2000 - 5000 m 5000 - 10000 10000-20000 20000 <…1177 119 756 207 67 16 12

Total (m2) Average(m²) Potential of Power (MWc)2.479.755 2112 178

Marketing & Result

Study Installation

• Prospection +/- 10% of the market

• Rate of answer +/- 35%, is potential 55,700 panels (+ 13 MWc)

• Pilot study and positif answer 15,000 + 10,000 panels (+ 6 MWc)

• Pre-contract and advanced negotiation 6200 panels (+ 1.5 MWc)

• Pré-Contract signed 5, 1790 Pv (179 kWc)

Special Purpose Vehicle (SPV)

Blue LinesInvestor

SPV – Blue Lines Invest 1

SPV 2

SPV 3

Advantages

• Separate the operating activities from the financing

• Allow different shareholders in Blue Lines and the projects

• ROI 9,0% - ROE +/- 16%

20%

Financial institution

80%

Establishes an opportunity for financial actors (investors and

bankers) to enter the photovoltaic sector

Conclusions

• Our product is in line with the market requests.

• Fit the target of the Brussels renewable policy

• Establishes an opportunity for financial actors (investors and

bankers) to enter the photovoltaic sector

• High rentability

BLUE LINES SA-NVAvenue Herbert Hoover 219

1200 Bruxellestel: 02/262.46.27

email: ndoesburg@bluelines.infowww.bluelines.info