Waste Management in Facts & Figures

Investor Presentation November 2012 Greece - An emerging WM and EFW market

• Greece produced 12 million metric tons of waste annually of which 5.1 mil tons is Municipal Solid Waste (Source: Hellas stat, 2010 data) • Greek waste production per capita at 457 kg/capita (European average : 502kg/capital) • 85% of the waste produced is actually collected and almost 80% ends up in landfills (vs EU average of 41%). • 40% of MSW is organic ( vs. EU av. 25%) creating waste-to-energy opportunities. Complete sorting and treatment of MSW organic waste through MBT not possible yet. • Improved investment climate following June elections expected to create activity in WM

Source : McKinsey Study : Greece 10 Years Ahead/ Opportunities in Waste Management (June 2012) Waste Composition Greece EU av. Greek Waste Management Statistics Greece EU Organic Waste 40% 25% Waste collected 85% 100% Paper 29% 35% Waste to landfill 77% 41% Plastic 14% 3% Organic waste treated 4% 68% Glass 3% 6% Metal 3% 11% Recycled Waste 21% 23% Other 11% 20%

⇒ Significant volumes of un-treated organic MSW 2 Municipal waste treated in 2009 Greece vs the EU

sorted by % of land filling

Greece ranks very low in terms of diversion of waste from landfills (23 rd )

Source: Eurostat Current status in treating MSW in Greece No defined EFW or WM technology yet

• Current facilities: Land-filling remains preferred disposal method

– 77 Sanitary Landfill sites plus 60 still active uncontrolled Landfills (gradually being shut down)

– 3 Energy-from waste facilities (mainly Landfill mining)

– 28 Recycling/MRF facilities • 19 recycling centers processed 1.050.000 tons of recyclable materials so as to salvage 525,000 tons of packing materials (in 2009) – 4 existing MBT plants / 1 new being developed • 2 composting plants (plus 1 being developed) • 2 biodrying plants • High portion of organic waste of which only 4% is treated (vs. EU 68%) • Existing MBT investments achieve volume reduction, however face several problems and have not solved the residue problem i.e. need to dispose compost output not suitable for fertilizer or soil improvement uses.

⇒ Low capacity investments in recycling - Marginal progress in residual waste treatments and EfW 4 Energy recovery in Greece

The following energy recovery plants use landfill mining for electricity production in Greece :

Location Year Technology/ Processing Power Generation founded Process Capacity - March Landfill Mining 300.000 23,5 MWe (electrical) 2001 Use of Biogas to Produce Electricity tons 9,5 MWh (thermal)

Thessalia - Volos June 2008 Landfill Mining 110.000 3,7MW Electricity - Anaerobic Digestion tons

Central Macedonia December Landfill Mining 637.000 5 MW – Tagarades 2006 Use of Biogas to Produce Electricity tons

Total Energy ~ 32 MW Produced

Source : Waste-to-Energy Research and Technology Council (WTERT) MBT plants in Greece

The following plants are designed to process MSW, achieving mainly volume reduction and landfill diversion. At present, approx. 560.000 tpa of MSW are being processed in MBT plants. The production efficiency of many plants has been widely challenged .

Location Year Technology/ Process ProcessingCapacity Main Outputs founded Attica - EMAK Ano 1997 MBT –Composting 400.000 tpa MSW Compost 100.000 tpa Liossia 85.000 tpa sludge RDF 110.000 tpa

Crete – Chania 2005 MBT Composting & Biodrying 70.000 tpa Wet Compost with 30% humidity (SRF for cement ) 2.490 tpa , Recyclables 9.651 tpa

Crete – Herakleio 2009 MBT -Biodrying 75.000 tpa Baled Biodried Material 50.775 tpa

Kefalonia 2010 Biodrying -Biostablization 10.000 tpa Compost 3.243 tpa (initial) Residues 4.794 tpa

Imathia signed 2010 MBT Composting 100.000 tpa construction phase

Kalamata 1997/2010 MBT – Composting 32.000 tpa Technology not properly (no longer in operation) implemented, despite efforts by various contractors

Source : Waste-to-Energy Research and Technology Council (WTERT) Recycling plants in Greece

The following Material Recovery Facilities exist in Greece to date:

1 - ATTICA 14 WEST. THESSALIAS-KARDITSA

2 ELEFSINA - ATTICA 15 EASTERN CRETE HERAKLION 3 - ATTICA 16 HANIA 4 KORINTHOU 17 KALAMATA 5 SHIMATARIOU 18 PATRAS 6 KATERINIS 19 SOTANTH 7 CORFU 20 ZANTE THERMIS-EASTERN 21 SERRON 8 THESSALONIKIS 22 LARISSA 23 TRIPOLI -WESTERN 9 THESSALONIKIS 24 ALEXANDROUPOLI 25 SINDOS 10 IONIA THESSALONIKIS 26 WESTERN MACEDONIA 11 IOANNINON 27 KOROPI -ATTICA 12 VOLOU 13 LAMIAS 28 ASPROPYRGOY (2nd)-ATTICA Sanitary Landfills in Greece

Currently 77 sanitary landfills (XYTA) are operating in Greece :

Prefecture Count MSW (000 tons) Macedonia Thrace 3 277 Central Macedonia 10 839 Western Macedonia 1 108 Ipiros 3 136 Thessaly 7 313 Ionian 5 79 Western Greece 5 108

Central Greece 7 253 Attica 1 1,912 Peloponnese 5 255 Northern Aegian 4 87 Southern Aegian 15 211 Crete 11 229 Total 77 4,807 Source: WTERT report MSW - PPP Projects

• PPP projects are awarded following a competitive dialogue tender process under which the most efficient proposal is to be chosen. The competitive tender process has two phases: – In phase one indication of interest are received from companies which must demonstrate waste management track record . – Pre-selected consortia proceed to phase two under which companies make specific technical and financing offers . At phase two, access to funding must also be demonstrated.

PPP announced / in progress TPA Western Macedonia 120.000 in progress – phase B Municipality of Peloponnese 200.000 (selection) Municipality of Ilia 100.000 Municipality of Aitoloakarnania 110.000 Municipality of Serres 90.000

Western Attica (Liosia) 400.000 in progress – phase A Western Attica (Fyli) 700.000 (pre- selection)

South Eastern Attica 127.500

North Eastern Attica 127.500

Municipality of Patras 150.000 announced

Total 2.125.000 9 Biogas potential in Greece

• 3 Landfill - Biogas plants producing 40,1MW of power exist in Greece, namely the Liossia (23,5 MW), Tagarades (5 MW) and Psittalia ( 11,4 MW) plants. • 248 applications for licenses to produce Biogas from biomass have been submitted in Greece (amounting to total production of 2041,4 MW ) • Significant potential to produce Biogas by processing the byproducts of Animals, Olive oil production, Chese production and biodiesel production.

Source Units Capability Waste Energy Tons/Year (MW) Cattle Farms 32.875 727.040 Cows 14.540.800 278 Pork Farms 36.593 140.645 pigs sows 2.268.220 37 Slaughterhouses 101 77.242 tons/year (cat. 2) 204.932 28 127.690 tons/year (cat3) Cheese 548 160.362,4 tons/year 425.647 7.21 production 447.705,2 tons/year Total 17.439.599 350,21

10 Farming waste in Greece

 17 Mtons organic waste /year is produced from cattle and pig slurries  Cattle breeding mainly northern Greece (Thessaloniki, Pella)  Pig breeding equally distributed over Greece  Poultry farming mainly in three regions

11 Sigmacatalyst Partners Your independent project partner in Greece and regional waste markets

Thank you for your attention.

Contact : Dimitris Skaleos Managing Partner [email protected] Tel. +30 210 6852 411

Please visit our web site www.sigmacatalyst.gr for an overview of our services and our project execution approach .

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