energies nouvelles Offshore wind energy: 2011 / 2012 Birth of a leader Major achievements Expanding in new territories

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1 nouvelles Offshore wind energy: Birth of a leader Major achievements Expanding in new territories Emerging technologies to be explored Operation and Maintenance: A bright future 2011 / 2012 energies

2 EDF Energies Nouvelles _ EDITORIAL > Jean-Louis Mathias Chairman of the Board of Directors Antoine Cahuzac Chief Executive Officer > FEATURE ARTICLE Offshore wind energy: Birth of a leader A new dimension for EDF Energies Nouvelles > Expanding in new territories: Gaining new markets abroad Morocco South Africa Canada Mexico Turkey United States > MAJOR ACHIEVEMENTS Installing 3 million panels in less than 12 months > OPERATION AND MAINTENANCE A bright future > Exploring new energies Looking for new sources of renewable energy Effective synergies and a change in scale After more than a decade of very strong growth, renewable energies have begun a new phase of development. The business is changing as projects attain industrial or international scale. Large-scale investments are only possible for large, powerful and solid companies. This is why EDF is providing increased support to its renewable energies subsidiary. EDF Energies Nouvelles was fully integrated within the Group in 2011 to deal with new challenges and maximise synergies. The EDF Group is known for its engineering excellence. Its national and international coverage provides valuable support in terms of expanding into new territories. EDF's R&D operation and its research staff represent a powerful resource in developing new energies and optimising existing technologies. EDF Energies Nouvelles' new logo reflects its integration within EDF and the resulting change in scale.

3 EDF Energies Nouvelles _ CHALLENGES 03 Jean-Louis Mathias Chairman of the Board of Directors Antoine Cahuzac Chief Executive Officer Capturing growth in new energies at a reasonable cost The best is yet to come. First impressions As a long-standing director of EDF Energies Nouvelles, I have been keeping a close eye on the company's progress in the last few years. I am pleased to have taken on a more involved role, and I am committed to maintaining the company's pioneering approach. I am also intent on making the most of EDF EN's strengths as an international company. Maintaining our performance and development potential is crucial for the Group and its energy diversity. Renewables play a key part of EDF's growth ambitions. These energies are not all at the same level of technical maturity, and not all of them will become competitive at the same rate in all regions. We are aiming to capture the growth of these energies in a responsible manner, at reasonable cost. We are focusing on competitive energies like wind, which is the most advanced. We are preparing for the future by working on offshore wind technology. We are developing other promising technologies like solar and marine. We are selecting the geographical locations where using these energies makes the most sense. Renewable energies are still in a start-up phase and remain dependent on public-sector support. Their growth model must now factor in the constraints on public financing and, in return for this public support, provide tangible support to local economies. The future growth of these energies depends on how competitive they are with other types of energy, and is reliant on innovation. With the Group, EDF Energies Nouvelles has the resources to meet these challenges. I am fortunate enough to be now part of a very sound, dynamic and successful company. With operations covering several energy segments and several countries, EDF Energies Nouvelles has solid foundations. The company's constant focus on diversified development has led to firm growth. The result, as we can see today, consists of numerous growth opportunities all around the world. EDF Energies Nouvelles' growth impetus is shown by our recent move into three new countries and efforts to strengthen our positions in strategic markets. Not to mention our important pipeline of projects. The best is yet to come in countries like the USA, Canada, the UK, Turkey and, of course, France. Offshore wind energy will play a major role in our future, providing major opportunities and leading to a change in scale. The size of projects and investments mean that industrial and financial strength is vital. As a result, the EDF group's support will be crucial. The quality of EDF Energies Nouvelles' staff makes me very confident in the future. Our teams are skilled in detecting highpotential markets and transforming them into growth drivers, and they are developing increasingly advanced expertise in production and operations. I am fully confident that they will be able to support the Group's ambitions and that they will continue to be successful. Together, we can build a bright future for EDF Energies Nouvelles.

4 04 CHALLENGES _ EDF Energies Nouvelles EDF Energies Nouvelles _ KEY FIGURES 05 David Corchia Advisor to the Chairman of the Board of Directors and the CEO 4,125 MW gross installed capacity Worldwide: 85% wind, 10% solar 4,700 wind turbines and 10 million solar modules installed : Ongoing achievements 2,263 employees working to develop, build, operate and maintain green power plants 13 countries in Europe and North America 2012: entry into Morocco, South Africa and Israel 1,351 million consolidated revenue* across power generation, activities for third parties and distributed solar After more than a decade of success, EDF Energies Nouvelles has continued to forge ahead in 2011 and was another exceptional year, with a record amount of capacity brought into service (848MW), a record amount of capacity under construction (almost 1,500 MW in wind and almost 300 MWp in solar) and unprecedented performance in the DSSA* business. This operational success is remarkable given recent events that have been highly adverse for the sector. It has resulted in financial performance that has been entirely in line with expectations also brought major developments that are starting to having an impact in In France, our high-profile move into offshore wind energy has resulted in 1,500 MW of new capacity in development and has made us the undisputed leader in this new energy segment. In solar, our simultaneous involvement in several * Development and Sale of Structured Assets. very large projects led to the on-time connection of France's three largest solar plants, while a 140 MWp project is now underway in California. New opportunities are arising internationally, and we have moved into three new countries: Israel, Morocco and South Africa. EDF Energies Nouvelles is combining growth and profitability in Europe, North America and its new strategic countries. Through its closer relationship with the EDF group, the company is entering a new phase. With this stronger base, the company must now keep its soul, its entrepreneurial spirit and its desire to succeed. I have been very privileged to take part in EDF EN's adventure as CEO. The new Chairman and CEO are supported by the best teams in the industry and are perfectly suited to meet the new challenges that are arising. I wish them sun, wind and increasing success in the future. 560 million EBITDA** the best indicator of the company's performance 121 million net profit strong, profitable growth for more than 10 years 1,377 million investment wind and solar investment make up for a third of the EDF group's total investment in new production capacity 6.7 TWh production in 2011, providing enough electricity for 3.3 million inhabitants Figures at 31/12/2011 For EDF: * Consolidated revenue: 1,214 million / ** EBITDA: 540 million

5 Offshore wind energy Birth of a leader EDF Energies Nouvelles _ OFFSHORE 07

6 EDF Energies Nouvelles _ OFFSHORE 09 QUESTION FOR Béatrice Buffon Head of Development Offshore Wind Energy France, EDF Energies Nouvelles Offshore wind energy a new dimension for EDF Energies Nouvelles YOU HAVE JUST WON CONTRACTS TOTALLING ALMOST 1,500MW IN THE FRENCH OFFSHORE WIND MARKET. WHAT MADE THE DIFFERENCE IN YOUR OPINION? Our main strength has been our ability to select partners and bring them working together. These include Alstom, a major French industrial group and producer of wind turbines, Dong Energy, a Danish electricity company that is the world leader in offshore wind energy, and two development partners: Nass&Wind Offshore and wpd offshore, each of which has years of on-the-ground experience in the regions concerned. Another crucial factor was Alstom's wind turbines, which feature technology that is way ahead of the rest of the market. These wind turbines will be made in France, which is of symbolic importance. The production plan will generate value locally, will take place over the long term and will create jobs. There is also potential for exporting turbines to countries like the UK. Naturally, we have put forward very high-quality projects, supported by long-standing local relationships and detailed site studies including offshore geotechnical drilling. This work has enabled us to make the right decisions on aspects like foundations, ensuring the reliability of our proposals. Offshore wind energy is destined to see strong growth, particularly in Europe. EDF Energies Nouvelles has been preparing for this growth for several years. The company has taken positions on two projects to gain experience and, with the support of the EDF group, to become a leading player in Europe. After winning 1,500 MW of projects in France in 2012, EDF Energies Nouvelles has taken a large step towards handling next-level projects. A huge market Offshore technology is giving second wind to the European market, where wind energy was pioneered. Offshore wind energy capacity is currently 3 GW, but should rise to 40 GW in Europe by The UK market alone has potential for 33 GW. France is planning to install 6 GW of offshore wind capacity by Complex and large projects The business is changing, requiring the combination of wind energy expertise and offshore skills. Projects are of an unprecedented scale, amounting to several hundred megawatts, and involve a completely new level of complexity. Investments are moving to the next level. Projects are being supported by major players, including electricity companies like the EDF group, along with other major industrial groups.

7 EDF Energies Nouvelles _ OFFSHORE 11 An expanding skills base Since 2008, anticipating market movements, EDF Energies Nouvelles has been learning the key aspects of this new offshore wind business. This experience, acquired through the C-Power project in Belgium and the Teesside project in the UK, enabled the company to lead a consortium and put together a compelling proposal in the French tender process. UNITED KINGDOM 2011: new wind farm under construction off the English coast Teesside, in Northeast England, is EDF EN's second-largest offshore wind farm. It is being developed and built in partnership with EDF Energy. With total capacity of 62 MW, it will come into service in late 2012 and provide electricity to 40,000 homes, preventing 80,000 tonnes of CO 2 emissions per year. Christian Egal - CEO of EDF Energy Renewables, the UK subsidiary of EDF EN - said that the Teesside wind farm is another opportunity for EDF Energies Nouvelles to use its expertise in offshore wind energy and continue its development in Europe." 62 MW 40,000 homes BELGIUM 2009: first milestones in the North Sea 30km off the Belgian coast in the North Sea, the Thornton Bank wind farm is developing rapidly. In addition to the six turbines that have been in operation since 2009, 30 additional turbines with 185MW of capacity will be installed by September The 18 others (110MW) will be installed between 2012 and This 54-turbine farm, in which EDF Energies Nouvelles has been involved since the start as part of the C-Power consortium, will have total capacity of 325MW. It is the largest offshore wind farm off the coast of Ostend, and will supply energy to 600,000 inhabitants. It will prevent 450,000 tonnes of CO 2 from being released into the atmosphere. 325 MW 600,000 inhabitants

8 EDF Energies Nouvelles _ OFFSHORE 13 France 2012 : EDF Energies Nouvelles, winning bidder for 3 sites EDF Energies Nouvelles was the main winner following the April 2012 invitation to tender held by the French government, working alongside its partners to obtain contracts for three of the four available sites. The consortium has 18 months to assess risks, confirm its technical decisions and develop relations with all stakeholders. At the end of this period, EDF Energies Nouvelles will be able to prepare for the construction, starting in 2015, of wind farms off the coast of Saint-Nazaire (Loire-Atlantique), Courseulles-sur-Mer (Calvados) and Fécamp (Haute-Normandie). These farms represent almost 1,500 MW of new capacity, expected to come into service from Collective dynamism Five partners have joined forces and are achieving major synergies by pooling their skills: Alstom with its turbines, Dong Energy with its offshore wind expertise, wpd offshore and Nass&Wind offshore with their project-management skills and EDF Energies Nouvelles as the project leader, handling all issues and practical considerations arising in the partnerships. This combination of skills has been a recipe for success. We have put together the best skills in the offshore wind segment to propose high-quality projects, said Béatrice Buffon. Our proposals are supported by the expertise of all our partners. Major advantage: the experience of Dong Energy Dong Energy has more than 20 years of experience in making technical decisions relating to matters such as the reliability of wind turbines, the installation of foundations and turbines at sea, and maintenance issues in the marine environment. This valuable expertise allows Dong to select the best options, and to minimise cost. The alliance with Dong Energy ensures a competitive and reliable offering, with a firm grip on risk. COURSEULLES-SUR-MER ST-NAZAIRE FÉCAMP DONG ENERGY, NO.1 IN OFFSHORE WIND Dong Energy is the world leader in its sector, operating 30% of offshore wind capacity, including 1 GW of the 3 GW installed in Europe. Its projects under construction will provide an additional 2 GW of capacity, and include the spectacular London Array project off the Thames Estuary, which is set to be the world's largest wind farm. Dong has always had specialist skills in offshore activities, and uses them in its original oil and gas exploration business as well as its wind energy business. 1,500 MW 238 wind turbines 6 billion of investment Projects with strong local roots EDF Energies Nouvelles works with development partners that have strong local roots and good site knowledge. These partners have long-standing expertise in performing in-depth studies, wind measurements and analysis of marine ecosystems. Working closely with these local partners has given the consortium a real edge. Positive relationships have been formed with local stakeholders, elected officials, professionals, non-profit organisations and residents. EDF's regional departments played a major role in fostering these relationships. Agreements have been signed with fishermen's associations in each zone. A broad consensus has already been reached through more than 100 on-site meetings. Certain local constraints have now been factored in, to limit the impact on existing activities and the environment.

9 EDF Energies Nouvelles _ OFFSHORE 15 Alstom's Haliade the right technological choice The Haliade 150 wind turbine is a technologically innovative and ambitious development for France. Alstom used all of its 30 years of wind-energy experience in the turbine's design. Its 6 MW power output and its rotor of more than 150m make it the most high-performance wind turbine in the market. Jérôme Pécresse, Chairman of Alstom Renewable Power We want to create a cluster of excellence around this business, which is strategic for the future. By combining our own skills with those of Dong Energy and EDF, we are aiming to bolster our position as a leading international player in renewable energies. Yvon André, Chief Operating Officer of EDF Energies Nouvelles By selecting Alstom's Haliade 150 wind turbine, EDF EN and its partners have chosen technological innovation and performance. The design and technology involved in this new-generation wind turbine are 100% French, and the turbine represents the birth of a new industry in France that will generate jobs and exports. At the leading edge Haliade wind turbines generate exceptional power, and will deliver a higher yield than the current generation of turbines. With capacity of 6 MW each and blades that are among the longest in the market, they are at the cutting edge of technology. They have been designed without gearboxes, which are the Achilles' heel of wind turbines, and so offer both robustness and reliability. They should reduce the need for offshore maintenance work, which is costly and sometimes difficult because of weather conditions. Industrial-scale production underway Pre-production of the Haliade turbine has begun, with an onshore installation in the Loire-Atlantique region. A second Haliade turbine is scheduled to be installed off the coast of Belgium for offshore testing in October The 238 wind turbines intended for the three wind farms allocated to EDF Energies Nouvelles will give rise to an ambitious industrial project that will create value for France's regions. New jobs and factories The project will have long-term industrial benefits in France, with the construction of factories and the creation of more than 7,000 direct and indirect jobs:5,000 jobs in producing wind turbines across four factories in Saint-Nazaire and Cherbourg and 2,000 jobs in producing foundations, assembling turbines, performing installation at sea, logistics and operations and maintenance work. The Haliade 150 is a showcase for French expertise, and its high performance means that it is likely to be used in many locations around the world. Béatrice Buffon commented that these investments are being made very close to the offshore wind farms, and will enable us not only to respond to local offshore wind demand but also to produce for the European market, and particularly the UK. 7,000 jobs 4 factories

10 EDF Energies Nouvelles _ INTERNATIONAL 17 Expanding in new territor ies With new countries recently entering the market, renewable energies has gone global, while maintaining its local roots. EDF Energies Nouvelles has always thought globally in order to seize the best opportunities. After Europe and North America, the company is now moving into a new continent. It has started work in Morocco and South Africa in 2012, and is looking at other new high-potential territories. MOROCCO SOUTH AFRICA CANADA MEXICO TURKEY UNITED STATES

11 EDF Energies Nouvelles _ INTERNATIONAL 19 Seizing opportunities worldwide With 85% of its business lying outside France, EDF Energies Nouvelles has clearly been able to adapt effectively to local conditions. Geographical diversification is rooted in the company s genes. This diversification enables EDF EN to take advantage of the varying pace of activity between countries and over time, and delivers more growth opportunities. Whether moving into new regions of the world or strengthening its presence in Europe and North America, EDF Energies Nouvelles always addresses local constraints. For example, it works with partners that are familiar with the local market and regulations, outsources work in order to promote local jobs, and supports industrial investment in the country. Selective development There is major growth potential in Asia, South America and the Middle East given the increasing energy needs of these expansive regions. Although there is no shortage of regions to explore, EDF Energies Nouvelles has a selective approach to international development. Any decision to respond to an invitation to tender, or to work with a partner on a new facility is based on strict criteria. Nothing is left to chance. As well as favourable weather conditions, the country must have a proactive policy of supporting renewable energies and substantial growth potential in a nascent market. Political and regulatory stability are also vital. The support of the right local partner is crucial to success. These factors limit risk and enable EDF EN to plan for the long-term, focusing on profitable projects and investments. QUESTIONS FOR Fabienne Demol Head of New Business Development, EDF Energies Nouvelles EDF ENERGIES NOUVELLES' GROWTH IMPETUS IS MAINLY BEING DRIVEN BY ITS INTERNATIONAL ACTIVITIES. WHICH COUNTRIES ARE YOU CURRENTLY LOOKING AT AND WHY? We are interested in countries that show major potential, not just because they have the right weather conditions but also, and most importantly, because the local authorities want to develop these kind of energies. This is the case in Morocco and South Africa, where we are planning our first wind farms and where the outlook is very encouraging. Israel and the Middle East are also very interesting areas, particularly for solar energy. DO YOU HAVE ANY NEW PROJECTS IN EUROPE AND THE USA? Poland is currently Europe's most promising country in terms of wind energy. The country has a strategic plan, consistent with European directives, to ensure that 19% of its power comes from renewables by EDF EN is planning to move into the Polish market in 2012, and EDF is already a major operator in the country. In the USA, where we have been operating since 2002, we are continuing to grow by seizing investment opportunities in new states, the most recent being Texas and Pennsylvania. ARE THERE STILL REGIONS TO EXPLORE AND WHAT ARE YOUR ADVANTAGES IN THEM? More and more governments all over the world are looking at new ways of generating electricity.we are well placed to provide appropriate, long-term renewable energy solutions, due to our experience in major projects and our ability to adjust to the local context. We have a targeted development approach to growth regions, consistent with the EDF group investment criteria.

12 EDF Energies Nouvelles _ INTERNATIONAL NEWS New positions in Morocco Long-term commitment EDF Energies Nouvelles has moved into Morocco, winning a tender to install 150 MW of wind energy capacity. EDF EN and its partner - Japan's Mitsui group - were selected as the preferred bidder by Morocco's national electricity office (Office National d Electricité) to develop, build and operate the Taza wind farm in Northern Morocco. EDF Energies Nouvelles is also planning further developments. Morocco has extremely favourable wind and sun conditions, and the government has a programme to develop renewable energies, in which EDF EN wants to play a part. The company is preparing for an additional invitation to tender relating to 850 MW of wind energy capacity. EDF EN has adopted a long-term strategy, providing the Moroccan authorities with local solutions to green energy production and industrial integration. A newly created subsidiary, EDF EN Maroc, will oversee the company's expansion in Morocco. It has already undertaken to grant at least 30% of the construction work at the Taza wind farm to Moroccan subcontractors. MOROCCO 150 MW 50 Alstom turbines of 3 MW each The Moroccan authorities' target for 2020: > 2 GW of wind energy, 2 GW of solar energy > renewables accounting for over 42% of installed capacity First megawatts in South Africa 104 MW to be built by late 2014-early 2015 The right partnerships for a long-term presence The southern end of Africa is a windy place, and South Africa wants to exploit this. The authorities are planning to install 3.7 GW of renewable energy capacity by EDF Energies Nouvelles has joined forces with South African developer Innowind and won three wind energy projects in the second phase of the government's tender process, which began in August 2011: Chaba (21 MW), Waainek (23.3 MW) and Grassridge (59.8 MW), all located in the Eastern Cape province. EDF EN will now take part in the third phase of the tender, again in partnership with Innowind. In line with its long-term commitments, EDF EN has also established a partnership with a non-profit organisation, which ensures that local communities benefit from these projects. SOUTH AFRICA

13 EDF Energies Nouvelles _ INTERNATIONAL 23 FOCUS Canada Numerous upcoming projects across a vast territory More than 1 GW planned in Quebec, of which more than half is under construction More than CAD 2 billion of investment 502 wind turbines in Quebec by 2015 EDF EN has operated in the Canadian market since Its success in the tender process organised by Hydro-Quebec Distribution has resulted in projects totalling 954 MW. EDF EN joined forces with German manufacturer REpower to submit tenders for supplying turbines to all wind farms, with a commitment to manufacturing some of the turbines locally. For both companies, the electricity purchase contract resulting from the tender was a key milestone in their efforts to break into Canada. Of the five wind energy projects won by EDF EN, three are under construction: Lac Alfred (300 MW), Massif du Sud (150 MW) and Saint-Robert-Bellarmin (80 MW). These wind farms will be mostly operational in The two other wind farms - Rivièredu-Moulin (350 MW) and Clermont (74 MW) - are expected to come into service in late In 2010, Hydro-Quebec awarded EDF EN two additional projects of 24.6 MW each following a tender process. Eventually, 502 wind turbines will produce green electricity for a 20-year period. At the vanguard of solar energy La filiale canadienne d EDF EN est également fière d avoir réalisé la centrale photovoltaïque de 23 MWc d Arnprior dans l Ontario, la première du pays en Depuis, EDF EN Canada a développé et construit deux autres centrales solaires totalisant 48 MWp. HYDRO-QUEBEC has selected EDF Energies Nouvelles Hydro-Quebec generates power mainly from renewable sources, and large hydro accounts for 98% of its production. It also supports the development of other energies like wind. Hydro-Quebec intends to use its expertise to become a global leader in integrating wind energy into major hydroelectric networks. With its future wind farms, EDF EN will help to provide a supply of carbonfree energy at a competitive price. The economic criteria included in the tender process demonstrate Hydro-Quebec's commitment to creating local wealth and jobs. CANADA

14 EDF Energies Nouvelles _ INTERNATIONAL NEWS Mexico Wind energy: competitive without subsidies 67.5 MW in service 324 MW under construction Turkey Rapid expansion ahead 219 MW in service 115 MW under construction United States The potential of wide open spaces 1,276 MW of installed capacity 725 MW to be built in 2012 USA MEXICO TURKEY Firm support for development In the very windy Oaxaca region of southern Mexico, EDF Energies Nouvelles is building two new wind farms that will be completed in 2013: Eoliatec del Istmo (164 MW) and Eoliatec del Pacifico (160 MW). Mexico's strong winds mean that green energy can be produced at a competitive cost and sold to local corporations under longterm contracts. Fruitful cooperation EDF Energies Nouvelles has owned a 50% stake in Polat Enerji since 2008, and the partnership has lived up to expectations. Turkey's energy ministry estimates that the country has potential wind energy capacity of 20 GW, and the cooperation with Polat is resulting in rapid development in the wind energy segment. Turkey also has an abundance of sun, giving rise to initiatives in the photovoltaic segment. A new 150 MW wind farm is nearing the end of the development phase in Central Anatolia, and is scheduled to come into service in New successes EDF Energies Nouvelles has been present in the USA for more than 10 years, and is continuing to expand year after year. Uncertainty over whether or not the production tax credit granted to wind energy producers will be renewed in 2013, along with the need to comply with very strict construction timetables before the end of 2012, has created opportunities for EDF EN. Its US subsidiary has invested directly in two states. The first is Texas, where it acquired two wind projects in 2012: Spinning Spur (161 MW) and Bobcat Bluff (150 MW). The second is Pennsylvania, with the acquisition of the Chestnut Flats (38 MW) project in late The USA is seeing intensive construction activity in EDF Energies Nouvelles will bring into service more than 650 MW of wind energy by the end of 2012, and almost 75 MWp of solar capacity. It is also continuing to build two biomass units of 17.8 MW each in South Carolina.

15 EDF Energies Nouvelles _ CONSTRUCTION 27 Major achieveme nts 4 major photovoltaic projects carried out simultaneously in France As an integrated operator, EDF Energies Nouvelles handles the initial development phase and the subsequent construction phase of wind and solar projects. The company oversees and coordinates projects and their participants, from ordering equipment to bringing facilities into service. After regulatory changes in France, EDF EN made exceptional efforts to complete projects of unprecedented scale in record time. Building four solar facilities - the largest in France - on time was a major industrial challenge. More than 1,000 people involved Almost 3 million panels installed in less than 12 months

16 EDF Energies Nouvelles _ CONSTRUCTION 29 Toul-Rosières, Europe's largest solar photovoltaic facility with capacity of 115 MWp, is giving a new lease of life to a former air base. At the heart of Lorraine - an industrial region in a transitional phase - the Toul plant is an exemplary project that has strong local government backing, with the emphasis on local jobs and environmental protection. The project was completed very rapidly, with up to 12,000 modules (1 MWp) being installed per day. Bordeaux-Lac, the largest ever solar roof project in an urban setting, combines electricity production with cover for 7,000 parking spaces. With 60,000 panels installed as part of the shading structures covering the car park to the city's exhibition park, this 12 MWp facility is a first in France. EDF EN's hard work paid off, and the project was completed almost a month ahead of schedule. Massangis, one of France's largest solar plants (56 MWp): a project combining soil remediation and solar energy. In the Yonne region, the Massangis project fulfilled the local need for soil remediation and preservation work. It involved the remediation of soil damaged by intensive farming and restored the quality of water in the project's catchment basin. The 700,000 photovoltaic panels were installed in less than 12 months. Crucey-Villages, more than 740,000 panels providing energy to almost 28,000 inhabitants while revitalising a former military base. This 60 MWp solar plant was built to a very tight deadline. The project also involved major clean-up work including removing asbestos from and dismantling 80 decommissioned buildings and removing hydrocarbon reserves. The project was supported by the Eure-et-Loir regional council and is located on a former military air base, and so uses a space that was previously lying vacant. France : Solar plants: challenge industrial fulfilled In late 2010, the public authorities cut the feed-in tariff applied to photovoltaic facilities, resulting in new constraints on operators. Facilities with connection authorisations had to be built within 18 months to qualify for the old tariff. With more than 400 MWp of projects to be built, this meant that EDF Energies Nouvelles was in a race against time. Organisational aspects and engineering processes needed to be adjusted to meet the challenge. Lead times cut in half The construction of ground solar facilities at Toul-Rosières (115 MWp), Crucey (60 MWp) and Massangis (56 MWp) and the solar roof at Bordeaux-Lac (12 MWp) was initially supposed to take four to five years. The halving of the time available required exceptional resources and organisation, to ensure that these large projects could be carried out simultaneously and on-time. EDF EN had less than 18 months to complete all projects, from site preparation to building the facilities themselves. This is in addition to the other solar facilities of around 10 MWp each that EDF EN was building in France at the same time.

17 EDF Energies Nouvelles _ CONSTRUCTION 31 Exceptional project management All the skills that EDF Energies Nouvelles had accumulated since 2008 were put to use. Project management methods were adjusted, deadlines were shortened and subcontracting was organised into sub-projects. Various phases of the same project were launched in parallel. Anticipation and rigorous monitoring were crucial. Given the need for rapid construction, selecting subcontractors was a major issue. EDF EN was able to draw on its experience gained in previous large projects, particularly Gabardan (65.7MWp) in the Landes region, and Narbonne (7.1 MWp) in Aude. The company's efforts paid off: all construction was completed on schedule and connection is underway. Flagship international projects The experience gained in these exceptional projects is already being used in all new projects that EDF Energies Nouvelles is starting worldwide. US and French teams are sharing their expertise in order to complete the 140 MWp Catalina project in California as efficiently as possible. The company's iconic French achievements are now serving as a benchmark for its developments in the countries that receive a lot of sun. We are very proud of the Bordeaux-Lac solar plant, which is the largest in an urban setting in France. It will provide enough electricity for 5,000 homes and substantially improve car parking at the Bordeaux exhibition park. Hugues Martin, Deputy Mayor of Bordeaux, Head of Finance and General Administration STRONG COMMITMENTS Responding to local issues In France, the context resulted in major technical challenges relating to the construction of these large solar facilities. In addition to industrial issues, the company must address local issues raised by elected officials. These include decontamination and environmental protection, preservation of natural and archaeological heritage, and local jobs, which is often the main concern. In Toul, the company paid particular attention to creating activity in an area of low employment. The redevelopment of the site gave the opportunity to showcase renewable energies. A renewable-energy house open to the public will be built within the grounds of the solar plant. As part of the Bordeaux solar roof project, EDF EN was committed to providing facilities and services to site users. Maximising the efficiency of the car park, improving signage and optimising its appearance formed an integral part of the project. The Crucey solar plant fits with the proactive local plan to develop renewable energies. At Crucey-Villages, EDF Energies Nouvelles and the Eure-et-Loir regional council transformed a 245-hectare decommissioned air base into one of France's largest photovoltaic farms in record time, which was a major achievement. This success confirms Eure-et-Loir's reputation as a forward-looking département in energy terms. Albéric de Montgolfier, Chairman of the Eure-et-Loir council

18 EDF Energies Nouvelles _ CONSTRUCTION 33 Toul-Rosières More than 1,000 soil samples Asbestos removed from 170 buildings 280 buildings dismantled 8,000 of polluted earth removed 1 From a former air base to a major solar plant 2 Former 1 US Air Force and French Army air base 136 is a huge 522-hectare site that had been unoccupied since Archaeological work uncovered the remains of a necropolis. An exclusion zone was created to preserve it. 3 Existing buildings on the air base, most of which contained asbestos, were dismantled and the soil was decontaminated. Kilometres of worn-out underground networks were removed and hydrocarbon tanks were emptied. 4 The area occupied by the plant was limited to 367 hectares to preserve sensitive environmental areas Construction was organised into tranches. For each tranche, the work involved anchoring systems suited to the type of soil, along with installing oblique steel or aluminium structures, on which the solar panels were attached. 6 7

19 EDF Energies Nouvelles _ CONSTRUCTION 35 Toul-Rosières 1,450,000 photovoltaic modules installed in record time 8 11 Up to 34 companies and 650 people 55% of jobs filled locally EDF Energies Nouvelles divided the project into around 10 separate sub-projects: excavation-roadworks, structures and foundations, installation of modules, electrical works, supply of equipment, installation of perimeter fencing, videosurveillance and so forth. At its peak, the project employed more than 650 people and 34 companies on-site. More than half of the jobs created were filled by people living in the region. The facility will come into service in summer 2012 after it has been connected to the high-voltage electricity network

20 EDF Energies Nouvelles _ O&M 37 Operations & Maintenance A segment with a bright future EDF Energies Nouvelles ranks among the leading international players in Operations & Maintenance services for wind farms and photovoltaic power plants. For an electricity producer, high-quality generation and equipment and a long service life are prerequisites for achieving a high level of performance. With the growth in global installed capacity, new business opportunities are emerging in these operational areas. EDF Energies Nouvelles is harnessing the expertise it has gained for its own facilities and by selling services to facility owners. 900 employees 170% increase in the headcount since 2007 Over 6,000 MW managed around the world for its own account or for third parties

21 EDF Energies Nouvelles _ O&M 39 International synergies boosting performance Over 10,700,000 solar panels and turbines under management Thierry Muller, Director of Operations & Maintenance, EDF Energies Nouvelles and his US counterpart, Larry Barr, Executive VP, in charge of the same activities, work closely together to maximise the performance of power plants on both sides of the Atlantic. In Operations & Maintenance, EDF Energies Nouvelles draws on its internal expertise, gained over more than 25 years by its US subsidiary and adapted progressively in Europe. This is a strategically important business because it ensures that facilities operate as efficiently and for as long as possible. Why is your business strategically important for EDF Energies Nouvelles? Thierry Muller: The Group has made a strategic decision to become an integrated operator spanning all the business segments, i.e. development, construction, generation and operations & maintenance. We are keenly aware that a high standard of operational proficiency is a key factor influencing performance and profitability. The facts demonstrate this. At the end of the manufacturer warranty period, when we assume direct responsibility for Operations & Maintenance, we generally achieve an improvement in the performance of our wind farms. Larry Barr: We make sure that when the wind blows or the sun shines, our power plants are ready to generate electricity as efficiently as possible. The most effective solution is to assume control of them ourselves.

22 EDF Energies Nouvelles _ O&M 41 Operations & Maintenance is the US subsidiary s original business activity. What advantages does this bring? L. B. : In 2002, when we first joined the EDF Energies Nouvelles group, we were the only independent wind farm operator among the world leaders. I believe our industry experience, our technical knowledge of the various turbine models, our logistical and human resources and the expertise we have developed over the years deliver tremendous benefits for electricity producers and give us the edge on our rivals. Our 400 engineers and technicians currently manage 5,000 turbines in the Americas, Canada and Mexico. As a result, our parent company has benefited from our 25 years of experience in O&M in the wind segment. In turn, it has replicated in North America its electricity generation model, which is predicated on ownership of power plants and a multi-segment presence, adding solar photovoltaic to our portfolio of expertise, for example. T. M. : I would like to add that this organisation has proven its worth. We have drawn inspiration from it to expand our activities in Europe. We also pool our expertise and consolidate the training and experience of teams by carrying out joint maintenance operations. This leads to genuine sharing in the field between our European and US specialists. What is your roadmap for Europe? T. M. : The business started up in 2009, with the roll-out of centralised monitoring of European operations and the gradual takeover of responsibility for running the power plants in France. We now monitor 100% of the Group s wind farms in France and handle all maintenance duties at the end of the manufacturer warranty periods. The business is ramping up in various European countries, with Greece added in 2011 and the United Kingdom in Operating offshore wind farms is the next major challenge. From 2013, we will provide O&M services for the Teesside offshore wind farm in the United Kingdom and then from 2018 for the three offshore wind farms EDF EN is set to build in France. How do you see the future panning out? L. B. : We share the same objective: continue to expand the business around the world, by offering our services jointly on a large scale to customers owning facilities, which have an increasingly global reach. We have everything we need to succeed, i.e. an owner-operator s approach using our experience, our technological proficiency and our high-calibre expertise, and we put them to work for our customers. Few competitors can combine so many resources and expertise. The support of EDF Energies Nouvelles is also an advantage when it comes to international expansion. T. M. : Working together helps to boost our efficiency. We strongly believe in the sharing of best practices and harnessing synergies as effectively as possible. In addition, investing heavily in employees and qualifications means giving EDF Energies Nouvelles every chance of becoming one of the top players in this expanding area and of contributing to the creation of new jobs. Value-creating service offerings An integrated solution to optimise production efficiency EDF Energies Nouvelles, which operates more than one hundred power plants worldwide for its own account, provides its customers with the benefit of its experience. The services offered to investment companies, banks and industrial operators are designed to create value. All the Operations & Maintenance aspects are covered, from the centralised monitoring of power plants through to the maintenance and servicing of facilities and production optimisation. We offer a turn-key and innovative approach in wind and solar energy to deliver the maximum possible return on our customers investments, emphasizes Thierry Muller. Continuous analysis of the behaviour of equipment and realtime performance monitoring help make the best possible preparations for preventative and corrective maintenance. Preventing a breakdown and component wear-and-tear, planning ahead for and scheduling a major maintenance operation during periods of low production shorten downtimes and help to ensure optimum operation. First-rate resources EDF Energies Nouvelles has the human and technical resources available 24 hours a day, 7 days a week. The remote monitoring centres located in the south of France for Europe and in the US mid-west for North America monitor the wind and solar facilities continuously and guarantee the swift response that is crucial for a high-quality service. Highly trained and well-equipped teams are ready to swing into action on the ground. They operate out of maintenance centres located far closer to the facilities. All activities are managed using SAP, and safety is a paramount concern for all O&M staff.

23 EDF Energies Nouvelles _ O&M 43 Mikaël Lucotte A childhood dream comes true Working at dizzying heights of between 50 and 120 metres, and always being ready for the unexpected form part of Mikaël Lucotte's everyday work. Wind turbines and photovoltaic facilities do not hold any mysteries for him. EDF Energies Nouvelles is the only company that performs operations and maintenance work on its own installations. According to Mikaël, this is a major advantage: The effectiveness of our work relies largely on extensive upstream preparations. Mikaël works in the Colombiers maintenance centre for the Hérault region, which carries out 24/7 supervision of green energy facilities. He is on call from 6am to 10pm, and is available within the hour if an emergency arises. His work is extremely mobile, taking him to projects in France, Europe and occasionally North America. What does he like most about renewable energies, and about wind energy in particular? It's exciting to see different technologies come together, such as mechanical engineering, hydraulics, automation, fibre-optics and high and low voltage electricity. The work involves unusual physical demands, which appeals to Mr Lucotte, a 36-year-old motor sports fan. Mikaël Lucotte arrived at EDF Energies Nouvelles in 2010, but this is not just any job for him: It's a childhood dream come true! When I was a boy, I was impressed by the EDF technicians I saw being lowered by helicopter onto 400,000- volt power lines.

24 EDF Energies Nouvelles _ TOMORROW S ENERGIES 45 Emerging technologies to be explored DID YOU KNOW? EDF Energies Nouvelles is a founding member of France Energies Marines, an organisation that brings together all entities involved in renewable marine energies to support the pre-industrial development phase of the most promising marine technologies. The term "renewable energies" covers a wide range of energy segments and technologies. To prepare for the future, EDF Energies Nouvelles identifies promising energy segments and, with the support of R&D teams from the EDF group and industrial partners, is involved in developing new technologies. Marine energies, along with solar, represent the company's main areas of exploration. EDF EN is carrying out research into a range of technologies, which must undergo technical validation and efficiency testing before the company can consider developing them on an industrial scale, as wind and solar power are today. VertiWind floating wind energy of the future < Because it does not need the foundations required by fixed wind turbines, VertiWind offers new opportunities for a second generation of offshore wind energy in many countries, particularly in the Mediterranean and the USA, where water depths mean that existing technologies - which involve turbines being anchored to the sea-bed - cannot be used. Stéphane His, Head of Renewable Energies, Technip Floating wind energy is one of the most promising energy segments for the future. EDF Energies Nouvelles is ahead of the curve in regards to this second generation of offshore wind energy, and has selected VertiWind technology, which looks capable of being rolled out on an industrial scale in the medium term. EDF Energies Nouvelles is working with project leader Technip, which is in charge of the flotation part of the project, and Lillebased start-up Nénuphar, which is making the turbine. The concept is innovative. It is based on a new type of wind turbine, with blades rotating in a plane parallel to the waterline around a 90-metre mast, no gearbox or nacelle guidance system, and a flotation system that requires little water clearance and no specific sea-bed conditions. The technology is well suited to deep-sea areas, and could open up new horizons for offshore wind energy. Prototype due to be launched soon A prototype wind turbine is being built at Fos-sur-Mer for testing at sea, and will come into service in late Further operational prototypes will then be installed in the same area. EDF Energies Nouvelles is contributing its vision as an electricity producer and its experience in dealing with development constraints to help roll out this technology on a larger scale.

25 EDF Energies Nouvelles _ TOMORROW S ENERGIES 47 Can waves produce electricity? Trials in La Réunion EDF Energies Nouvelles and DCNS, Europe's leading military shipbuilder, are joining forces as part of a pilot project aiming to build a facility that produces electricity from wave energy. This project uses a technology developed by Australian company Carnegie, to which EDF Energies Nouvelles has acquired exclusive rights in the northern hemisphere and around La Réunion. 3 This CETO technology involves the first-ever wave energy converter that is installed on the seabed, where it cannot be seen and is sheltered from storms. Unlike other technologies, CETO employs lightweight subsea infrastructure to pump seawater ashore at high pressure to a turbine that produces electricity. In early May 2012, in Pierrefonds at the south of La Réunion, work has begun on installing a working prototype at a depth of 25 metres. The site is ideal, being well exposed to southern swells, and will be used for six months of testing. The aim is to validate technological concepts, to analyse the system's energy performance and to refine modelling tools. Environmental aspects are being assessed at the same time by analysing the project's impact on biodiversity in the area, and particularly on marine mammals Assembly of the floating unit, capturing wave energy Hoisting and lowering the hydraulic system - which converts wave energy into electricity - into the water at the port of Saint-Pierre Towing the hydraulic system to the final site Artist's impression of the prototype at sea. 4