PresentationBrian Britton Managing Director Oriel Wind Farm Ltd.

The Oriel Windfarm Project

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Introduction

• To meet and exceed our renewable energy targets.

• To export high value green electricity to Europe.

• To create jobs building and operating Irish Offshore wind farms.

• To stimulate the €40bn Supply Chain Opportunity afforded by the development programmes for offshore wind in the Irish Sea and over €300bn in the rest of Europe.

• The Oriel wind farm will be a major first step in achieving these opportunities.

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Ireland has a number of opportunities from Offshore Wind

Ireland’s Offshore Wind Resource

• Ireland potentially has the best offshore wind resource in the world.

• Offshore offers the capacity and greatest potential for substantial increase in indigenous sources of all power generation thereby increasing “Security of Supply.”

• 2680 MW in planning, a further 5000 MW feasible within Irish Sea Zone.

• A further potential 5000MW in shallow Atlantic waters off the South and West Coast when turbine technology advances, i.e. floating turbines, co-location.

• With these resources Ireland can be an energy exporter.

Average Wind Speeds at 100m above Sea Level in European

Waters

Blue >10 m/sec, Red 8.5 – 10 m/sec,

yellow 7.5 – 8.5 m/sec , Green 6.0 – 7.5 m/sec

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Oriel Windfarm Limited Project Summary

• A sustainable and renewable energy company set up in 2005 to develop an

offshore wind farm in the North Irish Sea.

• Wind farm capacity:

- Capacity up to 330 MW

- 55 turbines

- Sufficient energy to provide for 250,000 homes

- Capacity factor 44.3% based on Siemens 6MW

• Conditional Foreshore Lease offer received 18th November 2010.

• Oriel issued with a grid connection offer for 330 MW 12th April 2011.

• A Founder Member of Now Ireland (National Offshore Wind Association of Ireland).

• A Founder Member of BICC (British Irish Chamber of Commerce.)

• Currently in a position to plan Pre-Construction and Construction stages of the project.

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Oriel Windfarm Project Location

North West Irish Sea Location Windfarm Location and Layout

ORIEL WINDFARM

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Identifying a Suitable Location for the Development of an Offshore Windfarm

An area in the North West Irish sea was selected as the most suitable location for the Oriel WindfarmProject due to its:

• Excellent wind resource 9m/sec

• <30m water depths at >5km from shore

• Good seabed sediment conditions

• Shelter from high wave loads

• Low tidal streams

• Grid access North and South

Bathymetry: Red = 15m, Blue = 30m6

Project Consenting - Timeline SummaryOriel was granted a Foreshore Licence in October 2005 from the then DCMNR,

giving permission to carry out a technical work plan to investigate the suitability

of the area for construction of an offshore wind farm. This included:• Geophysical Site Investigations• Engineering Assessment• The completion of an Environmental Impact Assessment• Preparation of a Foreshore Lease Application

The completion of this work led to the submission of a Foreshore Lease Application

• Foreshore Lease Application submitted February 2007

• 2 month public consultation

• Response to submissions

• Requests for further information

• MLVC recommendation December 2008

• Conditional Foreshore Lease offer received November 2010

Other critical steps achieved

• November 2008 – Oriel Windfarm 330 MW included in Gate 3 list for grid connection

• April 12th 2011 – Grid Connection offer for 330 MW of capacity received

• June 20th 2011 – British Irish Council announcement of All Islands Approach

• May 28th 2012 - “Strategy for Renewable Energy 2012 -2020” announced by DCENR

• January 24th 2013 – Memorandum of Understanding signed by UK and Ireland7

Grid Connection Process

• Grid connection application submitted October 2007.

• Initial connection method meeting with EirGrid February 2010.

• In August 2010 EirGrid confirmed that the connection method is a looped 220 kV substation into the Woodland - Louth 220 kV line. The offshore wind farm will be connected into the new looped substation with sections of 220 kV underground and marine cable.

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New looped 220kV

substation

Offshore

substation220 kV cable

landing point

• Connection offer for 330 MW capacity issued 12th April 2011. Firm Access in 2012 confirmed 27th September 2012

• The connection is contestable, Oriel are responsible for the consenting and construction of the connection assets. The works will be to EirGridstandards.

Oriel Windfarm Project Overview Map

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Planning Application Status

• Onshore planning work commenced October 2010.

• First meeting with An Bord Pleanala December 1st 2010.

• Landing point agreements secured and contracted.

• Substation site secured and contracted.

• Determination form An Bord Pleanala on 17th August 2011 that the project will be considered under Strategic Infrastructure Legislation and the cable route is exempt from planning.

• A Planning application has been prepared which will be finalised following the introduction of a Strategic Partner.

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Technical Summary of Grid Connection Design

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• 15km Single 3 core 220kV cable offshore.

• 18km of 3 x single core 220 kV cable onshore.

• Onshore substation design a balance between worst case scenario and planning practicalities.

• Significant amount of reactive compensation equipment included in the design.

Corporate Profile

• Oriel Windfarm Limited is an Irish company based in Dundalk, Co Louth,

established to develop wind farms in Ireland.

• Headed up by Brian Britton, Managing Director and principal of Britton Consultants, management consultants. Extensive project management expertise.

• Directors are Michael McBennett, Chairman; Brian Britton, Managing Director; Dan Hannevig and Chris Hannevig.

• Hannevig’s depth of involvement in development of Irish wind industry.

• Management team are supported by top professional firms in the country.

• Backed by business professional and wind farm interests with proven track records in the sector.

• Successful raising of initial funds in late 2005, with shareholder support continuing annually 2008 to 2015.

• Rothschild and KPMG have been appointed Financial Advisors.

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NB: Update of this page held until Route to Market resolved. Period 2014/2016 is for illustrative purposes only. 13

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

CONSENTING

Negotiating Foreshore Licence

EIA Study

DAFF/MLVC Application Review

Public Consultation

Oriel Further Information Submission

Layout Reconfiguration

Negotiating Consenting Terms

FINANCING

Preliminary Financing

Mesoscale Wind Resource Study

Lidar Wind Resource Confirmation

Project Financing Plan

Intergovernmental Agreement

Negotiation of Strategic Partner

Drawdown Main Finance

GRID CONNECTION

Application

Application Deemed Complete

Project Included in Gate 3

Grid offer issued

Grid Deposit Due

Planning Permission Process

Onshore Construction

TURBINE SOURCING

Assess Market

Place Turbine Order

Turbines Delivered

Turbines operational

CONSTRUCTION

Detailed Site Investigation

Planning and Engineering

Foundation Construction Onshore

Foundation Installation

Cables Laid

Offshore Substation Installed

Turbines Installed

Connection Onshore

OPERATION

Windfarm Fully Operational

Oriel Windfarm Limited - Critical Path Analysis

2010 2011 2012 20132005 2006 2007 2008 2017

OPERATIONPRE CONSTRUCTION CONSTRUCTION

BB February 2013

CONSENTING

20162014 2015

Oriel Windfarm Ltd. – Key Investment Highlights

• A consented 55 turbine project included in Gate 3.

• Prime location with high average load factors.

• Onland Planning significantly advanced.

• Onland Route futureproofed for Interconnection.

• Site expansion potential.

• Supportive political and regulatory environment.

• Export of renewables is stated Irish Government Policy

• UK market confirmed for Irish renewables export

• Attractive economics.

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Ireland’s National Territory – 10 x Land Mass

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• How would renewables export work?

- Statistical transfer / market mechanism- Interconnection- Direct connection of wind farms

� A number of recent Government backed studies have all concluded that an integrated and incremental approach to developing an offshore grid network in the Irish Sea is the most appropriate method to facilitate exports, increase the penetration of Renewable Energy and improve the existing onshore grid.

These include:

� The Isles Study� Eirgrid’s Offshore Grid Study� Northern Sea’s Countries Offshore Grid

Initiative

Eirgrid offshore

grid study base

case scenario

Export Mechanisms

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Southern Isles

Concept

Export Opportunity Irish Sea Zone - Supply Chain €40bn

• The biggest supply chain market for offshore wind in the world is on our backdoor in the Irish Sea Zone, a supply chain opportunity of over €40bn

Offshore Wind Developments in the Irish Sea

Location / Name Status Capacity MW’s No. Of Turbines Developer

Round 1 660

1 Ormonde Operational (February 2012) 150 30 Vattenfall

2 Robin Rigg Operational (March 2011) 180 60 E.ON UK Renewables

3 Rhyl Flats Operating (Dec 2009) 90 25 RWE-npower renewable

4 Burbo Bank Operational (Oct 2007) 90 25 DONG Energy

5 Barrow Operating (Sept 2006) 90 30 Centrica/DONG Energy

6 North Hoyle Operating (Dec 2003) 60 30 RWE-npower renewable

Round 2 1620

7 West Duddon Operational (January 2014) 500 139 Scottish Power/DONG Energy

8 Walney Operational (July 2011) 370 102 DONG Energy

9 Gwynt y Mor Approved 750 250 RWE-npower renewable

Round 1 & 2 Extensions 984

10 Burbo Bank Pre application investigations 234 65 DONG Energy

11 Walney Pre application investigations 750 150 DONG Energy

Western Scottish Territorial Waters 1500

12 Potential Areas Pre application investigations 1500 250 TBC

Isle of Man Territorial Waters 2000

13 Isle of Man Potential Areas Pre application investigations 2000 333 October Announcement

Irish Territorial Waters 2680

14 Oriel Windfarm Approval Pending – Gate 3 330 55 Oriel Windfarm

15 Dublin Array Application submitted 725 175 Saorgus Energy

16 Codling Wind Park 1 Approved – non Gate 3 1100 220 Fred Olsen/Treasury Holdings

17 Arklow Bank Approved – non Gate 3 525 200 SSE Renewables

Further Irish Sea Capacity 4000 800 TBC

Irish Sea Totals 13444 2989 turbines Circa €40bn

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Ireland is Already Involved in the Offshore Wind Supply Chain

• Development Companies

• Project Delivery Management

• Port Facilities

• Marine Services

- Diving Companies

- Work Boats

- Forecasting

- Engineering and Environmental Services

Other Supply Chain gaps can be filled by Irish Companies

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Delivering on our Opportunity

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• Develop a positive mindset – our resources are

unparalleled .

• Look beyond our shores for the opportunity which exists.

• Ensure our national policies support our industry objectives.

• Create the necessary market mechanism

– Ireland /UK /France/Europe.

• Be the leaders of the change Ireland wants and needs.

• Oriel Windfarm is poised to be first mover in kick-starting

the Irish Offshore Wind Industry.

Next Steps – Oriel Windfarm Ltd.

• Route to Market

• Obtain Strategic Partner

• Pre Construction Phase

• Turbine Supply

• Construction

• Operation

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Oriel Contact Details

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Brian BrittonManaging Director

Oriel Windfarm Limited2 Marine CourtBlackrockCo. LouthTel: 00353 42 9322952Fax: 00353 42 9322995Email: bb@orielwind.comwww.orielwind.com