25000 Ton GHG Inventory Analysis

MEMO TO: OPIC FROM: Pace Global Energy Services DATE: January 8, 2010 SUBJECT: 25,000 Ton GHG Inventory Analysis On June 14, 2007 OPIC announced the Greenhouse Gas (“GHG”)/Clean Energy Initiative. The purpose of the initiative is to systematically evaluate, monitor, and report on OPIC’s investment decisions and to demonstrate to OPIC’s stakeholders OPIC’s progress in reducing climate change impacts in their investment decision making. OPIC retained Pace Global Energy Services, LLC (“Pace”) to independently evaluate projects considered to be a significant source of GHG emissions and inventory emissions annually from these sources. OPIC’s baseline (2007 calendar year) GHG emissions inventory and related assumptions were released in a report dated March 2009. The baseline included all projects that had significant GHG emissions defined, for the purpose of the OPIC’s GHG/Clean Energy Initiative, as greater than 100,000 short tons of carbon dioxide equivalent (CO2eq). The baseline did not include indirect GHG emissions associated with purchased electricity, steam, or refrigerant emissions. The baseline 2007 OPIC inventory was 48,050,463 short tons CO2eq based on available project specific data and employing internationally accepted protocols and factors for GHG emissions accounting. OPIC accounted for emissions from projects emitting less than 100,000 short tons CO2eq annually by adding a 5 percent adder to the baseline inventory. In order to verify the accuracy of the 5 percent buffer, OPIC retained Pace to inventory GHG emissions from projects that had the potential to emit greater than 25,000 short tons CO2eq but less than 100,000 short tons CO2eq (as projects with emissions over 100,000 short tons were included in the baseline inventory). Using available project specific information provided by OPIC, Pace determined that in 2007, projects with emissions between 25,000 – 100,000 short tons CO2eq accounted for approximately 741,000 short tons CO2eq, representing approximately 1.5% of the total baseline inventory. From this analysis Pace concluded that the 5% buffer was a conservative assumption. 25,000 Ton GHG Inventory Analysis – Methodology An overview of the methodology used to inventory emissions of OPIC projects with annual GHG emissions exceeding 25,000 short tons CO2eq is presented below. In addition, a list of projects reviewed for this analysis is also provided. Initially, Pace conducted a screen of OPIC supported projects and developed a ‘short list’ of those projects likely to exceed an emissions threshold of 25,000 short tons CO2eq per annum from direct emissions. The initial screen excluded the following types of projects: Projects already known to exceed 100,000 short tons from the baseline inventory analysis Projects in sectors known not to have emissions exceeding the threshold for inclusion, including: commercial, construction, and tourism. Washington l New York l Houston l Columbia l Sacramento l San Diego l London l Moscow l www.paceglobal.com Most projects in sectors expected not to have emissions exceeding the threshold for inclusion, including: agriculture, finance, service, and transportation. Projects indicated by OPIC to be under the threshold for inclusion. The initial shortlist is included as an appendix to this memorandum (Initial Shortlist). The shortlist was screened further to include only projects that were active in calendar year 2007 (projects active in 2007 and active as of June 30th 2008) and were not duplicative project entries. Pace then requested project descriptions for the remaining projects, which OPIC provided. Pace performed inventory calculations for projects included in the final shortlist based on project descriptions as well as publically available data and emissions factors. Table 1 presents projects and associated emissions that were included in the 25,000 ton inventory. Table 1: Projects Exceeding 25,000 Short Ton Emission Threshold for Inclusion Max PTE Project Name Sector Location Emissions (tonsCO2/year) Empresa Minera Manquiri S.A., Coeur D Alene Mines Corp MINE Bolivia 98,628 the national power corporation, General Electric Energy Rentals Inc POWER Philippines 79,034 Israel electric corporation LTD, Citibank NA on behalf of eligible OIL Israel 77,360 financial institutions The powersource group LLC POWER Philippines 75,000 Kidwell International Power Vietnam Company Limited, GE Energy POWER Vietnam 69,665 Rentals Inc Zeta Gas De Centro America S.A., Texas Overseas Gas Corp OIL Guatemala 57,333 GOLDHAM PTY LTD.T/A KALAHARI GAS CORPORATION OIL Botswana 54,861 RPK-VYSOTSK "LUKOIL-II" OIL Russia 70,767 PALCO SP.ZO.O. MFR Poland 46,790 Maksan Manisa Mesrubat Kutulama Sanayi AS, Bank of New York MFR Turkey 43,666 WBC-SFC ENTEGRE ORMAN URUNLERI SANAYI VE TIC MFR Turkey 39,531 TRANSNATIONAL AUTOMOTIVE GROUP-CAMEROON S.A. TRAN Cameroon 28,136 CSA-CORPORACION JOSE R. LINDLEY, SA-2 MFR Peru 25,000 Total 740,773 Source: Pace and OPIC Proprietary & Confidential 2 PROJECTS SCREENED Finance Projects Project Sector Country Reason For Omission / Inclusion BESCH INT'L, INC/SAN MARTIN FARMS CIA. LTDA. AGRI Ecuador Not likely large or energy intensive to be over threshold BESCH INT'L, INC/SAN MARTIN FARMS CIA. LTDA. AGRI Ecuador Not likely large or energy intensive to be over threshold BRUCH SIDE FARMS AGROPECUARIA DO BRAZIL LTDA AGRI Brazil Not likely large or energy intensive to be over threshold CSA-REY BANANO DEL PACIFICO C.A. AGRI Ecuador Not likely large or energy intensive to be over threshold Deamar Nigeria LLC AGRI Nigeria Not likely large or energy intensive to be over threshold DMITROV DAIRY FARMS, CJSC AGRI Russia Included in Initial Short List EL SALADERO UY S.R.L. AGRI Uruguay Included in Initial Short List FLAMA DE ORO S.A. AGRI Guatemala Not likely large or energy intensive to be over threshold FLAMA DE ORO, S.A. AGRI Guatemala Not likely large or energy intensive to be over threshold LA FUTURA, S.A. AGRI Guatemala Not likely large or energy intensive to be over threshold LEAWOOD INVESTMENTS INC/BARRIEFIELD LLC AGRI Colombia Not likely large or energy intensive to be over threshold Rio Verde, S.A. AGRI Nicaragua Not likely large or energy intensive to be over threshold ROTA INTERNATIONAL EXPORTING, LLC. AGRI Guinea-Bissau Not likely large or energy intensive to be over threshold TB-ANDREW & WILLIAMSON FRESH PRODUCE AGRI Mexico Not likely large or energy intensive to be over threshold WBC-FORESTRADE, INC AGRI Latin America Not likely large or energy intensive to be over threshold WBC-MARICULTURA DEL NORTE, S.DE R.L. DE C.V. AGRI Mexico Not likely large or energy intensive to be over threshold WBC-SOUTHERN VALLEY FRUIT & VEGETABLE, INC. AGRI Mexico Not likely large or energy intensive to be over threshold Biuro Projektowania Systemow Cyfrowych S.A. COMM Poland Sector emissions primarily from electricity CAFR-MIC TANZANIA LIMITED (TZS) COMM Tanzania Sector emissions primarily from electricity CAFR-MIC TANZANIA LIMITED (USD) COMM Tanzania Sector emissions primarily from electricity Cafr-Millicom Ghana Limited COMM Ghana Sector emissions primarily from electricity CASIA-PACIFIC BANGLADESH TELECOM LIMITED COMM Bangladesh Sector emissions primarily from electricity CELLCOM TELECOMMUNICATIONS INC. COMM Liberia Sector emissions primarily from electricity CPAK-PAKISTAN MOBILE COMMUNICATION(PMCL) COMM Pakistan Sector emissions primarily from electricity Empresa De Telecommunications Nuevatel Sa COMM Bolivia Sector emissions primarily from electricity Millicom (Citibank) COMM Tanzania Sector emissions primarily from electricity RURALFONE, INC. COMM Brazil Sector emissions primarily from electricity SABLE-CELLCOM TELECOMMUNICATIONS INC COMM Liberia Sector emissions primarily from electricity Sirius Wireless, LTD COMM Nigeria Sector emissions primarily from electricity Stack Group - Safe Data Services COMM Russia Sector emissions primarily from electricity Unigestion Holding S.A. (digicel Haiti) COMM Haiti Sector emissions primarily from electricity WBC-Newcom LTD COMM Latin America Sector emissions primarily from electricity ZAO MS-Spetstelekom COMM Russia Sector emissions primarily from electricity ZAO STAR NETWORKS COMM Russia Sector emissions primarily from electricity AFCO-KANDAHAR VALLEY, LLC CONS Afghanistan Not likely large or energy intensive to be over threshold AGROTERMINAL LTD. CONS Russia Not likely large or energy intensive to be over threshold AMEBRASIL CONSTRUCOES LIMITADA CONS Brazil Not likely large or energy intensive to be over threshold ATLANTIC GROUP (UGANDA) LTD. CONS Uganda Not likely large or energy intensive to be over threshold Cemaco CONS Guatemala Not likely large or energy intensive to be over threshold CENTRAL EAST AFRICA RAILWAYS COMPANY LIMITED CONS Malawi Not likely large or energy intensive to be over threshold CONDOMINIOS RIVERSIDE ETAPA II, S.A. CONS Costa Rica Not likely large or energy intensive to be over threshold Proprietary & Confidential 3 CORREDOR DE DESENVOLVIMENTO DO NORTE S.A.R.L CONS Mozambique Not likely large or energy intensive to be over threshold CUSTOMIZED CONSTRUCTION, INC. CONS Afghanistan Not likely large or energy intensive to be over threshold Dara Salam Real Estate Developers CONS Ghana Not likely large or energy intensive to be over threshold Game Viewers Ltd/game trackers (botswana)ltd CONS Botswana Not likely large or energy intensive to be over threshold GHP(HONDURAS)LLC/GLOBAL HOUSING DEVELOPMENT CONS Honduras "Duplicate" except different contract # INTERNATIONAL DEVELOPMENT TRUST IRAQ CONS Iraq Not likely large or

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