General presentation pshpp Hidro TARNITA

PUMPED STORAGE HYDROPOWER PLANT PROJECTPSHPP TARNITA – LAPUSTESTI

2014STRATEGIC PROJECT OF NATIONAL CONCERN

PROJECT PRESENTATION

2014 Hidro Tarnita S.A. all rights reserved

IMPORTANT NOTE

2014 Hidro Tarnița S.A. all rights reserved

• The presentation is drawn up by HIDRO TARNITA S.A. with a view to offering concerned Investors a general outlook of the

Project, including general technical, economic, financial, commercial and legal aspects considered for the construction of Tarnita Lapustesti PSHPP.

• The presentation of the Project is substantiated on technical and financial items of the Feasibility Study elaborated by ISPH PD S.A. in 2008 and updated in 2014, which are the result of analyses, calculations, determinations and hypotheses of ISPH PD S.A.

• HIDRO TARNITA S.A. undertakes no liability or responsibility towards any other party. The items and data of the general presentation of the Project are informative and may be subject to serious amendments in time and may also be affected by unforeseen events, which may lead to a change of the results obtained and of the performance indicators of the Project;

• The results obtained in the Feasibility Study may vary depending on the final financing model agreed with the Investors and on their/other parties’ actions;

• HIDRO TARNITA S.A., the Ministry of Economy or the Romanian Government may not provide any guarantees whatsoever as to the accuracy or completeness of the information, forecasts, hypotheses in this general presentation of the Project, and none undertake any liability or responsibility in this respect;

• The Presentation is not prepared in order to offer a basis for the assessment of the Project and does not contain all information for the assessment of the Project. Concerned Investors must conduct their own analyses and investigations, deemed useful and must not rely exclusively on the data in the Project presentation;

• No liability or responsibility related to this document is or will be accepted by HIDRO TARNITA S.A., the Ministry of Economy or the Romanian Government or any of their partners, namely directors, middle managers, employees, representatives, advisors or agents and no responsibility pertaining to these is accepted for any of the information or opinions contained or for any errors, omissions or inaccurate statements.

GENERAL INFORMATION

Scope:Construction of a pumped storage hydropower plant, in Tarnita – Lapustesti area (Tarnița – Lapustesti PSHPP) of 1,000 MW installed capacity.

Approval documents: Romanian Government Memorandums approved within the meetings held on 26.03.2013, 04.09.2013, 16.10.2013, 31.07.2014

Hydroelectric parameters:- NWL upper reservoir, Lapustesti storage 1,086.00 masl- NWL lower reservoir, Tarnita storage 521.50 masl- Mean gross head 564.50 m- Total installed flow in turbine mode 212.00 cu.m/s- Total installed flow in pump mode 152.00 cu.m/s- PSP equipping 4 reversible hydro-units- Total installed capacity 4 x 250 MW- Pumping cycle weekly Estimated investment cost: under determination Estimated construction period 5-7 years

The information is from the feasibility study drawn up by ISPH PD SA in 2014.


ROLE AND ADVANTAGES

Key project considering the growing portfolio of electricity generation from renewable sources, requiring the installation of additional balancing capacity. These shall be turned to account not only on the ancillary services market but also on the load variations balancing or power consumption market

Power plant of strategic role, the first great dispatchable consumer qualified to participate at the NPS black-start in case of black-out

Operational flexibility and capacity to give a fast response to load changes, following to provide power services in Romania and neighboring countries

Enhancement of the operational conditions related to the large units from nuclear power plants, fossil-fueled condensation thermal power plants and cogeneration power plants, by electricity transfer from idle to peak (during night and week-end), reducing the consumption of fossil fuels, that are mostly imported

Benefits for all the segments of the competitive market, through a positive impact on liquidity and price set on such markets


FUNCTIONS PROVIDED

Electricity storage for a period of time

Supply of ancillary services for Romania and neighboring countries (frequency – power regulation, fast tertiary regulation, reactive power and operation in compensation mode) in order to meet the power quality standards

NPS balancing, considering the major increase in the portfolio of renewable sources generation capacities (wind, solar etc.) which cannot be controlled, depending on the primary sources specific to each category

Power supply in west of Romania, area characterized by a scarce production

Increase of the safety conditions in NPS operation and its exploitation under better technical and economic conditions

Sustainable alternative of the Romanian hydroelectric potential development considering the limited resources of raw material, in order to achieve cheap and non polluting energies


PROJECT LOCATION

In the western region of Romania, at about 30 km distance of Cluj Napoca municipality

At relatively equal distances from 2 nuclear power plants, Cernavoda in Romania and Pecs in Hungary.


SOMES RIVER BASIN, UPSTREAM OF CLUJ-NAPOCA MUNICPALITY

HYDROELECTRIC DEVELOPMENT SCHEME

PROJECT LOCATION

Somesul Cald river, in the left bank adjacent to the current Tarnita storage, near Lapustesti locality, Rasca commune.

Tarnita storage is commissioned since 1974 and belongs to the gravitational hydroelectric development scheme of Somesul Cald river.


The administrative territory of Rasca, Capusu Mare, Marisel si Gilau communes.

PROJECT LOCATION

Tarnita – Lapustesti is the most favorable site studied in Romania, considering the following:

Presence of Lapustesti plateau at 1,070 mdM average elevation on the left bank of Someșul Cald river, adjacent to the current Tarnita storage, plateau adequate for the construction of the upper reservoir (Lapustesti storage) quantity of excavation = quantity of fills

Free site of upper reservoir, not occupied by human settlements

Upper reservoir is not located on a natural protected area included in the European ecological networks - Natura 2000 in Romania

Presence of the lower reservoir – Tarnita storage of 15 mil. m3 active capacity

An average gross head of 564.5 m

Length of the galleries is quite small (high pressure gallery1.1 km, low pressure gallery 1.3 km)


LAYOUT


SYNOPTIC SCHEME


DESCRIPTION AND MAIN CONSTRUCTIVE CHARACTERISTICS OF DEVELOPMENT SCHEME


COMPONENT STRUCTURES OF DEVELOPMENT SCHEME

Upper reservoir (Lapustesti storage) of 10 mil. cu.m capacity, located on Lapustesti plateau (NWL 1,086.00 masl)

High pressure diversion, conveying the water between the upper reservoir and the underground powerhouse, consists in 2 galleries of 4.30 m inner diameter and 1,096 m length

Underground powerhouse is located on the left bank of Tarnita storage and consists in the machine hall cavern, transformers cavern. Access and connection galleries, cable gallery and operating personnel access gallery are in between

Electro-mechanical equipment from the powerhouse is made of 4 vertical Francis pump-turbine reversible units of Pi = 4 x 250 MW installed capacity, coupled to 4 motor – generator reversible units, of 15.75 kV rated voltage

Low pressure diversion conveying the water between the powerhouse and the lower reservoir consists in 2 galleries of 6.20 m inner diameter and 2 x 1.325 m length.

Lower reservoir (Tarnita storage) of 15 mil. cu.m – existing structure – located on Somesul Cald river

Connection to the National Power System (NPS) – 2 OEL 400 kV Mintia and Gadalin of about 230 km total length


UPPER RESERVOIR – LAPUSTESTI STORAGE

Lapustesti upper reservoir is performed in a mixed solution, aiming at a better compensation of the embankments.

Sealing of the upstream slope and of the reservoir bottom is made of bituminous concrete face of 16 cm thickness.

Main features of the upper reservoir: Active capacity – 10 mil. cu.m; Crest axis length– 2,715 m; Crest width – 7.00 m; Crest elevation – 1,086.50 masl; NWL – 1,086.00 masl; Minimum operating level – 1,053.50

masl; Upstream slope gradient – 1:1.8; Downstream slope gradient –

1:1.8/1:2.8 with berms of 6.00 m.

PLANE VIEW

CROSS SECTIONS


HIGH PRESSURE DIVERSION

LAPUSTESTI INTAKEPLANE VIEW

LAPUSTESTI INTAKECROSS SECTION

High pressure diversion consists of: Lapustesti water intakes of polygonal type

are located in a trap under the elevation of the reservoir bottom;

Lapustesti intake valve house; High pressure diversion consists in two

galleries of 1,096 m length and 4.30 m inner diameter each.


UNDERGROUND POWERHOUSE

CROSS SECTION

4 binary machines are placed into the powerhouse, with the following technical features Type – reversible Francis with vertical shaft; Nominal net head in turbine mode – 540 m; Maximum flow in turbine mode – 53 cu.m/s; Maximum capacity at couple – 260 MW; Nominal head in pump mode – 560 m; Maximum flow in pump mode – 38 cu.m/s; Maximum input power – 258 MW;

Runner specific diameter– 3,800 mm; Rated speed – 600 rpm; Counterpressure – 70 m; Turbine shaft elevation – 444.00 masl;

Machine hall cavern is 120 m length, 23 m width and 45 m height.

Machine hall is served by 2 travelling cranes of 200/50 t capacity at the hook.

Travelling crane is supported by a standalone structural work, with a clearance of about 16 m.



MACHINE HALL LEVEL

Secondary connection gallery; Main access gallery, of about 1,070 m length and a gradient of 10%. It has the role to connect the

underground and the outdoor installation platform; Cable gallery, of about 850 m length, houses the cables used for the power transportation at 400 kV,

110 kV and 20 kV voltage, having the role of secondary access and ventilation, as well.

Connection galleries between the two caverns are:

Main access gallery between the two caverns, of 35 m length;

4 connection galleries, providing the connection between the generator and transformer;

4 draft tubes galleries; Draft tubes valves

shafts;



Transformer cavern is of 117 m length, 19 m width and 22 m height and endowed with the following equipment: 4 power transformers, 280 MVA, 15.75/400 kV; 2 power transformers, 25 MVA, 110/15.75 kV, for the frequency converters supply; 1 power transformer, 10 MVA, 110/20 kV, for the 20 kV substation supply; Underground substation of 400 kV; Underground substation of 110 kV; Underground substations of 20 kV and 6 kV.

TRANSFORMER CAVERN. SUBSTATION LEVEL 469.20 masl


SINGLE-LINE ELECTRIC DIAGRAM OF TARNITA - LAPUSTESTI PSP

1 - 280 MVA, 15.75 kV reversible motor-generator 12 - SF6 (GIS) 110 kV outdoor substation 2 - 280 MVA block transformer 13 - 24 kV underground substation 3 - 1500 kVA, 15.75 kV transformator pentru excitatie statica 14 - 24 kV outdoor substation - cable gallery 4 - 2500 kVA, 15.75/0.4 kV transformator auxiliar 15 - 6 kV outdoor substation - cable gallery 5 - 15.75 kV inverter disconnector 16 - 2500 kVA, 20/0.4 kV auxiliary transformer 6 - 24 kV outdoor substation- galerie de acces 17 - 1500 kVA, 20/0.4 kV static excitation transformer 7 - SF6 (GIS) 400kV outdoor substation – TRANSELECTRICA 18 - 630 (400) kVA, 20(6)/0.4 kV transformer 8 – frequency converter 19 - 1600 kVA, 20/6 kV transformer 9 - 25 MVA, 110/15.75 kV transformer 20 - 2000 kVA, 6 kV Diesel unit10 - 10 MVA, 110/20 kV transformer 21 - 400 kV cables 11 - SF6 (GIS) 110 kV underground substation 22 - 110 kV cables


LOW PRESSURE DIVERSION

DOWNSTREAM SURGE TANK

GALLERY TYPE SECTION

Low pressure diversion consists of: 2 concreted galleries, of 1,325 m length each

(between the surge tank downstream and the outlet) and of 6.20 m inner diameter;

2 cylindrical surge tanks, one for each gallery of the low pressure diversion;

Tarnita outlet valve chamber, one for each gallery of the low pressure diversion;

Outlets in Tarnita storage, located under the minimum operating level 514.00 masl, equipped each with one trash rack.

INTAKES AND INTAKE VALVE CHAMBERS.

TECHNOLOGICAL PLATFORM

PLANE VIEW


LOWER RESERVOIR – CURRENT TARNITA STORAGE

Lower reservoir represented by the existing Tarnita storage, has the following specific parameters:

Total capacity - 74 mil. cu.m; Active capacity - 15 mil. cu.m; Normal water level – 521.50 masl; Gravity center level – 518.00 masl; Minimum operating level– 514.00 masl.

Tarnita dam is located on Somesul Cald river,

at the thalweg elevation of 441.00 masl and it is a reinforced concrete double arch dam.TARNITA DAM

DOWNSTREAM VIEW

TARNITA DAM UPSTREAM VIEW


ENERGY AND ANCILLARY SERVICES

Given the task of framing the curve load of PSHPP Tarnita Lapustesti, according to the study drawn up by a professional designer and the simulation of an operating schedule performed on a specific average week, which include functioning in pumping mode for 72 hours and in turbining mode for 48h, with 2, 3 or 4 units, result:

Energy amount produced in generator mode - 1,649,457 MWh/year;

0,78 Energy amount consumed in pump mode – 2,103,328 MWh/year;

Correlated to the estimated operating schedule, both in generator mode and in pump mode, and depending on the technical characteristics, it was determined the maximum available amount of ancillary services, namely:

Secondary regulation f/P - 916,300 hMW; Fast tertiary reserve - 4,108,650 hMW; Dispatchable consumption - 2,352,000 hMW.

Date are taken from the feasibility study drawn up by ISPH PD SA in 2014.


MAIN QUANTITIES OF WORKS

Main quantities of works necessary for the construction of the investment project:

Platforms, roads, arrangements Overground excavation 500,000 cu.m Overground concrete 16,000 cu.m

Upper reservoir Quantity of excavation in colluvial soil 3,050,000 cu.m Quantity of excavation in weathered rock 1,869,000 cu.m Quantity of excavation in bedrock 1,717,000 cu.m Rockfills 2,587,000 cu.m Colluvial soil fills 1,747,000 cu.m Filters 623,200 cu.m Face support 210,000 cu.m Asphaltic concrete revetment 433,000 sq.m Drainages 2,400 ml

Headraces, intakes, valve chambers Powerhouse

Underground excavations 160,000 cu.m; Underground excavations 400,000 cu.m;

Underground concrete 122,000 cu.m; Underground concrete 82,000 cu.m;

Groutings 7,000 t; Groutings 5,000 t;

Linings 18,743 t. Linings 400 t.


MAIN QUANTITIES OF MATERIALS

Main quantities of materials necessary for the construction of the investment project: Steel concrete 15,000 t; Metallic profiles 2,000 t; Black sheet 72 t; Pipes – conduits 210 t; Cement 57,000 t; Electric cables 8,6 km; Timber 7,400 cu.m; Sand 150,000 cu.m; Gravel 400,000 cu.m; Linings 18,743 t; Prefabs 144 cu.m.

Sites and work points shall be supplied with materials, machinery, tools, equipment etc. from the main storehouse of Gârbau, that requires upgrading works.

Site organizations shall consist of: administrative spaces, offices; close and open material store room; special storehouses for combustible materials; trestles, ramps, inclined planes; fire prevention and extinguishing sheds, as well as structures and systems of general use: roads,

runways, electric networks, water networks, fencing etc.


NPS CONNECTION

Technical analysis highlighted the fact that the routes of OEL 400 kV, connecting Tarnita Lapustesti PSP and Transelectrica (system operator), are actually included within a single corridor, outgoing from Tarnita 400 kV substation, made of 2 rows of double circuits poles.

One corridor is dedicated to Tarnita-Gadalin route, of 74 km length, the second corridor being dedicated to Tarnița – Mintia route, of 158 km length.

This solution provides, for each lot of 500 MVA, the discharge/supply of the power plant both towards Gadalin station and towards Mintia station, providing the adequate reliable operation of the power plant, as well.

Elements of NPS connection are:

- 400 kV substation

- PSP double circuit OEL 400 kV – Mintia (158 km);

- PSP double circuit OEL 400 kV– Cluj Gădălin (74 km).

Investment related to NPS connection shall be borne by TRANSELECTRICA S.A.


NATIONAL ELECTRIC TRANSPORT GRID


Source: C.N. Transelectrica S.A.

26

OMV Petrom

Independent producers

HidroelectricaSelf

producersElectrocentrale

BucurestiNuclearelectrica

CE Hunedoara

GENERATION CE Oltenia

TRANSMISSION

Balancing Market

Operator

Transmission System

Operator

Market Operator

Transelectrica

E.ON Moldova

ENEL Banat Electrica Muntenia

Nord

CEZ Oltenia ENEL

Dobrogea

ENEL Muntenia

Sud

Electrica Transilvania

Sud


Nord DISTRIBUTION

CUSTOMERS Eligible customers

Households and small to medium entreprise

Export import

ROMANIAN ENERGY MARKET – STRUCTURE


27

CUSTOMERS

20.8 TWh 25.1 TWh 1.1/1.4 TWh

Consumers Supplied on the Regulated Market (Captive Consumers)

8.9 mn consumers

Consumers Supplied on the Competitive Market (Eligible Consumers)

0.01 mn consumersExport / Import

SUPPLYEnel Energie

E,ON Moldova Furnizare

Enel Energie Muntenia

CEZ VanzareElectricaFurnizare

Electricity Suppliers on the

Wholesale Market

Electricity Suppliers on the

Retail Market

Incumbent Suppliers

DISTRIBUTION


Sud

12.8%


Nord

11.0%

EnelDistributie Muntenia

14.9%

EnelDistributie

Banat

9.2%

EnelDistributie Dobrogea

8.7%

CEZDistributie

16.8%

Electrica Muntenia

Nord

15.4%

E,ONMoldova

Distributie

11.2%

41.5 TWh

TRANSMISSION

TRANSELECTRICA

Balancing Market Operator Transmission System Operator Market Operator

GENERATION

Hidroelectrica

21.2%Nuclearelectrica

20.2%

Electrocentrale Bucuresti

6.7%

CE Hunedoara

6.0%OMV Petrom

3.5%R,A,A,N,

2.4%CE Oltenia

30.6%Others

9.4%

52.1 TWh

Source: ANRE reports,

ROMANIAN ENERGY MARKET – KEY DATA


28

Fuel Type

Installed capacity [MW]

01.01.2011 01.01.2012 01.01.2013 01.01.2014

Coal 7141 7091 7025 6615

Hydrocarbon 4647 5519 5418 5464

Nuclear 1413 1413 1413 1413

Hydro 6499 6522 6563 6648

Wind 466 1140 1941 2605

Biomass 23 26 38 96

Photovoltaic - 1 29 862

Geothermal - - 0.05 0

Total 20,189 21,712 22,427 23,703

Coal,6615 MW

Hydrocarbon 5464 MW

Hydro,6648 MW

Biomass,96 MW

Nuclear, 1413 MW

Wind,2605 MW

Photovoltaic, 862 MW

Installed capacity as of 01.01.2014

NPS – National Power System

STRUCTURE OF INSTALLED CAPACITY IN NPS AS OF 01.01.2014


29

Coal, 17400 GWh, 30%

Hydrocarbon,9117 GWh, 15%Hydro,

15090 GWh, 26%

Biomass,302 GWh, 0%

Nuclear,11614 GWh, 20%

Wind,4693 GWh, 8%

Photovoltaic,355 GWh, 1%

Structure of power generation in 2013

STRUCTURE OF POWER GENERATION IN 2013


30

INTERNAL CONSUMPTION (TWh): 2008–2013

139.8

118.2 124.3131.3 131.7

141.6 147.4

2008 2009 2010 2011 2012 2013 f 2014 ff - Forecast

GDP (EUR mn) : 2008–2014

GDP AND INTERNAL CONSUMPTION GROWTH: 2008–2013 (%) REGULATED QUANTITIES (TWh): 2008–2013

2008 2009 2010 2011 2012 2013

54.6

49.9

52

53.7

52.4

49.8

2009 2010 2011 2012 2013 e

-6.6

-1.12.2

0.7

-5-8.6

4.2 3.3

-2.4

3.5

Cresterea consumului intern PIB*

Source: 1. ANRE

2. INS

* PIB = GDP (Gross Domestic Product)

2008 2009 2010 2011 2012 2013

54.649.9 52 53.7 52.4 49.8

23.4 23 21.6 20.3 20.915.4

Total Market Regulated Market

INTERNAL CONSUMPTION 2008 - 2013


31

KEY MATTERS FINAL SHAREHOLDING STRUCTURE

SAPE ELECTRICA

25%

COMPLEXUL ENERGETIC

HUNEDOARA25%

NUCLEARELECTRICA25%

COMPLEXUL ENERGETIC OLTENIA

25%

• 1980 – 2008 – preparation of studies, support schemes and feasibility studies

• 2008 – feasibility study ISPH SA

• 2013 – Government Memorandum regarding the approval of project implementation

• 2013 – establishment of SPV – Hidro Tarnita SA and registration with ONRC • 2014 – update of the Feasibility Study ISPH

• 2014 - Government Memorandum regarding the approval of investors selection procedure guidelines

MILESTONES

Company dedicated to a strategic project of national interest

Development of the CHEAP Tarnița Lăpuștești project

Romanian Government approval by Memorandum

Shareholders of the Romanian party: majority State-owned companies

PRESENTATION OF THE SPECIAL PURPOSE VEHICLE (SPV)Hidro Tarnita SA

PROJECT GRAPHIC MATERIAL


Lapustesti plateau view

UPPER PLATEAU LAPUSTESTI


TARNITA LAKE


TARNITA DAM



HIDRO TARNIȚA S.A.

Bdul Carol I, nr. 29, etaj 4, camerele 405-406 si 416-418, sector 2, Bucuresti, Romania

[email protected]

Telefon: +40 21 313 83 29Fax: +40 21 313 51 30

mailto:[email protected]

http://www.hidrotarnita.ro/

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General presentation pshpp Hidro TARNITA

Investor Relations