Public Private Partnership for Energy Production in

Pierre Alla President CCE New-Caledonia

PECC Conference November 17 / 18 Santiago de Chili SituationSituationSituation

Réseau de Transport 150 kV : 471 km Réseau de Transport 33 kV : 566 km Réseaux de Distribution : 3 266 km Clients : 23 081 Waala

Ouégoa Pouébo OUVEA

Koumac Hienghène Fayaoué Kaala-Gomen Poindimié We Ponérihouen Koné Néaoua Tu MARE Népoui Poya Tadine Thio Païta Yaté Dumbéa Ducos Prony Doniambo ILE-des-PINS Mont-Dore NOUMEA Vao z 2005 EVOLUTION de la PUISSANCE MAXIMALE appelée par la Distribution Publique

110 107,2 MW 103,8 99,9 97,5

93,0

85,7 81,9 79,5 80,4 77,2

60 95-96 96-97 97-98 98-99 99-00 00-01 01-02 02-03 03-04 04-05 COURBES des VENTES d’ENERGIE

840

790

740

690

640 605 590 548 540

490 481 440

390

340 1994-1995 1995-1996 1996-1997 1997-1998 1998-1999 1999-2000 2000-2001 2001-2002 2002-2003 2003-2004 2004-2005

Prévision moyenne 5,0% Actualisation Prévision basse 3,0% Nickel in New Caledonia : Major Players

INCO: Goro Greenfield Poum 0 50 100km project in the Tiabaghi N South

FALCONBRIDGE Kouaoua Thio Koniambo greenfield NOUMEA GORO project in the Project North NEW SLN ERAMET AUSTRALIA CALEDONIA

Operating a NEW ZEALAND smelting plant TASMANIA & 4 mines Goro Nickel Project - Project Summary

„ Process plant production capacity : 60 000 tons of Nickel & 5 000 tons of Cobalt / year

„ Mining production : 4 million tons / year

„ Investment around US $1.8 billion

„ Approximately 2 500 created jobs (including 800 direct) Goro Nickel Project - The elements of the project

• An open pit mine • A power station

• An ore preparation • A port

• A process plant • A camp Goro Nickel Project – A power station Prony Energies,

a true Public Private Partnership

PRONY ENERGIES - 2 x 50 MW

29 juin 2004 1 Shareholding

PRONY ENERGIES

ENERCAL 75% : ELYO 15%

EEC 10%

75 % 15 % 10 %

29 juin 2004 2

2 The Project

Prony Energies project aims to produce enough electricity to:

° meet the needs of increasing demand of the public distribution system,

± supply the Goro Nickel hydrometalurgical process plant with energy.

The power plant is made of 2 units of 50 MW each with a possible extension of 3 more units.

29 juin 2004 3 Benefits of the joint approach

-Economy of scale, allowing for a coal fired power plant, best environmental solution

-Sharing of infrastructures :port, water supply, roads, camp

-Remote location, away from urbanised areas

-Increased reliability of supply, connection to the grid

29 juin 2004 4 The Contract

-Tripartite: Prony Energies /Enercal/Goro Nickel

-Support of the French Government through Tax Benefits

-25 year renewable once

-Take or Pay

-Garanteed supply

-Step in provisions

29 juin 2004 4 29 juin 2004 4