Herlev, 18 May 2009 Company Announcement No. 14/2009 Greentech Energy Systems A/S and EDF Energies Nouvelles establish strategic partnership With reference to Company Announcement No. 13/2009 dated 7 May 2009, Greentech Energy Systems A/S (“Greentech” or “the Company”) hereby announces that it has entered into an agreement with EDF Energies Nouvelles (EDF EN) with the following elements: • EDF EN acquires 50% of Greentech's Monte Grighine project in Sardinia. • A Cooperation Agreement giving EDF EN an option to acquire an equity stake in Greentech's projects in Italy and Poland when the individual projects reach the “ready to build” stage. • The transaction price amounts to EUR 63m (approx. DKK 470m). Greentech remains solely responsible for completing the Monte Grighine project and carries all associated risks. The Cooperation Agreement gives EDF EN an option to acquire an equity stake in Greentech's projects in Italy and Poland. The option can be exercised in relation to projects in the current pipeline when these reach the “ready to build” stage. EDF EN is also given an option to acquire an equity stake in projects in Italy and Poland, which has not yet been identified, but will reach the “ready to build” stage before the end of 2012. The transaction will be effective upon Closing, which is expected to take place no later than 27 May 2009. By entering into this agreement Greentech will be able to cover its liquidity requirements, continue and complete the construction of Minerva Messina and Cagliari II, as well as further progressing its developments and ongoing operations. The agreement also secures that the construction of Monte Grighine - Greentech's largest project and Italy's largest wind energy installation consisting of 43 wind turbines with a capacity of 98.9 MW - can be completed. Finally, Greentech attaches great importance to the future partnership with EDF EN. “We believe that this strategic and constructive partnership with EDF EN will support our ongoing development of our project pipeline and help secure our future operations. The strategic partnership will enable Greentech to develop and operate projects in a pace and a magnitude which otherwise would not have been possible in today's market,” said Kaj Larsen, Chief Executive Officer of Greentech. “This transaction opens the door to a fruitful and successful relationship. Greentech not only has a portfolio of high quality projects, but also comprises a very professional and open-minded team. This transaction shall enable Greentech to complete the construction of the flagship Monte Grighine project. It is for us an excellent opportunity to strengthen our position in Italy and accelerate our development,” said David Corchia, Chief Executive Officer of EDF EN. As previously mentioned, Greentech's management estimates that this transaction will result in an accounting loss of approx. DKK 130m. A finite loss cannot be booked at this stage since Greentech carries all associated costs until the completion of the Monte Grighine project. As a consequence of the expected loss Greentech will revise its expectations for the 2009 Result. This revision will be communicated in connection with our 1st Quarter Results, which will be announced on 29 May 2009. About EDF Energies Nouvelles With operations in ten European countries and in North America, EDF Energies Nouvelles is a market leader in renewable energies. With a development focused on wind energy for several years and more recently on solar photovoltaic, now a second priority avenue of development, the Group is also present in other segments of the renewable energies market: small hydro, biomass, biofuel and biogas. In addition, the Group is expanding its presence in the distributed renewable energies sector. EDF Energies Nouvelles is a 50 %-owned subsidiary of the EDF Group. Since Novem-ber 2006, EDF Energies Nouvelles is listed in Euronext Paris, code “EEN”, ISIN code: FR 0010400143. www.edf-energies-nouvelles.com Additionally we refer to press release from EDF EN to Euronext in Paris. The Board of Directors For further information please contact: Peter Høstgaard-Jensen, Chairman, tel.: +45 40 10 88 71 Kaj Larsen, CEO, tel.: +45 33 36 42 02
Greentech Energy Systems A/S and EDF Energies Nouvelles establish strategic partnership
| Source: Athena Investments A/S