GE Energy Financial Services

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GE Energy Financial Services

• Policy Options Shaping Private Investments in
  Clean Tech
• Kevin Walsh
• Managing Director,
• Power Renewables
• May 1, 2009

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GE Energy Financial Services strategic alignment

• GE Energy Financial Services
• Global, long-term growth
• Essential, long-lived assets
• Across capital spectrum and energy industry
• Prudent risk management
• 25 Years in Energy Finance GEs 100 Years in
  Energy
• 22B Assets
• 25MM-1B Deals

GE Capital
Technology Infrastructure
NBC Universal
Energy Infrastructure
Aviation Financial Services
Treasury
Commercial Finance
GE Money
Energy Financial Services
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Accelerated renewable energy investing since 2004
Renewable assets of EFS portfolio
Diverse mix of technologies
20-25
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04 10 Forecast
4B invested since 2004
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NY Noble Windpower
Opportunity

• GE provided capital and 408 wind turbines for 6
  NY State wind parks totaling 612 MW constructed,
  operated and managed by Noble Environmental Power

State involvement

• 10-year REC contract with NYSERDA awarded under
  NY RPS program
• Siting approval and permits from NY DPS, other
  NYS agencies and local government
• PSC-driven utility industry restructuring created
  wholesale power market
• NY ISO cooperation on interconnection, scheduling

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CA SunPower Corporation
Opportunity

• EFS partners with manufacturer of high-efficiency
  solar panels to provide capital for five CA solar
  projects
• 5 projects to avoid 8.3B total lbs. of CO2
  emissions

State involvement

• All 5 sites receive payments from California
  Solar Initiative 0.34-0.39/kWh for 5 years
• One site received CA Self Generation Incentive
  payment 2.5/W
• Government hosts Lake County jail wastewater
  plants Rancho Water District

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MI A123Systems
Opportunity

• GE investment in lithium ion battery
  manufacturer 70 million and 10 ownership stake
• A123 batteries implemented in electric vehicles
  and smart grid storage applications

State involvement

• Michigan Economic Development Corporation awarded
  A123 100M in refundable tax credits to build
  lithium ion battery manufacturing plants
• Growth for A123, economic/employment boost to MI

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States have many levers to attract investment in
renewables

• Renewable Portfolio Standard
• Streamline permitting/siting process
• Grid expansion planning cost allocation
• Rate recovery for smart grid and efficiency
• Predictable incentives with adequate funding
• Minimize local tax burden - sales/use, property,
  income
• Economic development agencies connect companies
  to potential sites
• Training programs to provide skilled workers

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States also have an important role in Federal
programs

• Drive implementation of Federal stimulus programs
• Quickly channel stimulus funds to existing
  programs
• Promote rapid implementation of Federal Grant
  Loan Guarantee programs
• Influential voice on key national policies GHG
  regulation, renewables standard, regional grid
  expansion

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Contact Kevin Walsh Managing Director, Power and
Renewables GE Energy Financial Services 800
Long Ridge Road Stamford, CT 06927 Phone (203)
961-2144 Email kevin.walsh2_at_ge.com
www.geenergyfinancialservices.com