Kern County Energy SummitNovember 13, 2013

MidAmerican Solar, LLCPaul Caudill – President

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• Introduction to MidAmerican• MidAmerican Renewables – Solar and Wind

Projects • Our Goal: Be A Good Neighbor and Community

Member

Presentation Agenda

Introduction to MidAmerican

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89.8%

Northern Powergrid (Yorkshire) plc

U.K. Regulated Electric Distribution

Northern Powergrid (Northeast) Ltd.

U.K. Regulated Electric Distribution

Independent Electric Power Producer

Regulated Gas Transmission

Regulated Gas Transmission

Real Estate Brokerage

Regulated Electric Utility

Holding CompanyRegulated Electric and Gas Utility

MidAmerican Renewables

Business Structure

MidAmerican Renewables – Solar and Wind Projects

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MidAmerican Renewables Organization

MidAmerican Solar

In operation: 327 MW

Steve Larsen, president

MidAmerican Geothermal

Bishop Hill II: 81 MWPinyon Pines: 300 MW

Tom Budler, president

Agua Caliente 142 MWTopaz: 550 MW

Solar Star: 579 MW

Paul Caudill, president

Wailuku: 10 MW

MidAmerican Wind MidAmerican Hydro

• Topaz Solar Farms will deliver 550 MWAC at the point of interconnection when completed in February 2015

• Located on 4,700 project acres in San Luis Obispo County, California

• 25-year power purchase agreement with Pacific Gas and Electric Company

• Project uses more than 8 million First Solar Series 3 thin-film modules, installed under a construction agreement with First Solar

• 25-year operations and maintenance agreement with First Solar

• Supported by $1.1b in project financing with a blended interest rate of 5.55%– $850.0m debt tranche issued February 2012 – $250.0m debt tranche issued April 2013,

following project rating upgrade to BBB/Baa2

Topaz Solar Farms Summary

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Topaz Site Orientation

San Luis Obispo ~ 1 hour west

Bakersfield ~ 1.2 hours east

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Topaz Site Aerial View – September 2013

Carrisa Plains School

Transmission Line

Legend

Remaining Blocks - Layout

Project & Stewardship Land

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Construction Office Area

Substation & Switchyard

Topaz Vegetation Management – Sheep Grazing

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• Agua Caliente will deliver 290 MWAC at the point of interconnection and is located on 2,340 acres in Yuma County, Arizona

• 25-year power purchase agreement with Pacific Gas and Electric Company

• Project uses 4.9 million First Solar Series 3 thin-film panels, installed under a construction agreement with First Solar

• 25-year operations and maintenance agreement with First Solar

• NRG Energy agreed to sell 49% of project to MidAmerican Renewables in mid-December 2011

Agua Caliente Summary

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• Solar Star 1 and Solar Star 2 will deliver 579 MWAC at the point of interconnection when completed in October 2015

• Located on 4,000 acres in Kern County and Los Angeles County, California

• 20-year power purchase agreement with Southern California Edison

• Long-term transmission secured with Southern California Edison through large generator interconnection agreements effective December 2011

Solar Star 1 and 2 Summary

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• Construction agreements executed with SunPower Corporation.• A 20-year operations and maintenance agreement executed with SunPower

Corporation– Both projects utilize SunPower E20 435-watt monocrystalline silicon modules

and the T0 single axis tracking technology– The projects will use approximately 1.7m panels

• First tranche of debt offering was for $1.0b at 5.375%

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Solar Star Projects Site Orientation

Solar Star 1 and 2

Pinyon Pines 1 and 2

Future Sempra Site

Whirlwind Substation

Solar Star Major Project Milestones

• December 2012 MidAmerican Renewables purchased 100% of the project

• January 2013 Construction begins on-site• December 2013 57 MW in-service• April 2014 170 MW in-service• July 2014 243 MW in-service• December 2014 354 MW in-service• June 2015 505 MW in-service• October 2015 Final block placed in-service (579 MW)/Guaranteed

substantial completion date

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Solar Star Aerial View – October 2013

Our Goal: Be A Good Neighbor and Community Member

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• Approximately 650 construction jobs created over the three-year construction period

• More than $500 million in regional economic impact• 15-20 permanent employees once plant is completed and goes

in to operations• MidAmerican Solar team includes three local hires in key

positions • Avoidance of more than 570,000 ton of carbon dioxide

emissions annually – equivalent of removing 2 million vehicles from highways over 20 years

• Clean energy will power equivalent of 255,000 homes

Solar Star Project – Economic and Environmental Benefits

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• “Light on Land” approach, similar to solar projects in Europe• Grading is minimized, majority of project ground is not

disturbed by construction practices • Environmentally friendly binding agent is applied to roadways to

help seal areas that are heavily traveled • Active construction roads are watered regularly– This usage is significantly less than when project site was

utilized for agricultural purposes and irrigated• Environmental compliance efforts include monitoring wind

speeds and air opacity – Construction has been stopped on number of occasions due

to high winds

Focus on Dust Control Through Construction Practices

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• Customer Service and Community Relations– Introduced MidAmerican Solar to the local community with a

groundbreaking celebration in April 2013– Management team members attend meetings with the Rosamond

Municipal Advisory Committee, the Rosamond Community Service District and the Rosamond Chamber of Commerce

• 2013 Highlights– The Solar Star projects newsletter was developed – A project hotline was established– Purchased a handicap lift chair for the community pool in Rosamond– Contributions to the Southern Kern Unified School District Athletic

Programs – Joined the Kern County Economic Development Corporation, the

Lancaster Chamber of Commerce, the Rosamond Chamber of Commerce

Be A Good Neighbor and Community Member

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MidAmerican Solar Thanked at Football Game