Mitsui & Co Ltd: Participation in power generation and power/gas retail business in Australia UK Regulatory Announcement LONDON Participation in power generation and power/gas retail business in Australia October 8, 2013 Mitsui & Co., Ltd. ("Mitsui", Head Office: Tokyo, President & CEO: Masami Iijima), has agreed with GDF SUEZ S.A. ("GDF SUEZ"), to invest in its subsidiary International Power (Australia) Holdings Pty Ltd ("IPAH"), which owns and operates the power generation business as well as the power and gas retail business in Australia ("Project"). Mitsui will, by way of share subscription through its subsidiary to be newly established, acquire a 28% equity stake in IPAH. The Project comprises 4 generation plants with capacity totaling 2,604MW, as well as the power and gas retail business which has over 350,000 customers (both residential and business) largely based in the states of Victoria and South Australia. The power generation unit sells its output to Australia’s National Electricity Market, including Simply Energy, the power retail unit of IPAH. The Project represents the first example of participation by Mitsui in a vertically integrated power business. Mitsui and GDF SUEZ already collaborate in the Australian power generation sector via IPM Eagle LLP, a joint venture established in 2004. As a result of the Project, Mitsui now has an equity interest in all of the power business operated by GDF SUEZ in Australia, with a total generation capacity of 3,748MW. This portfolio makes GDF SUEZ and Mitsui the largest power producer in Victoria and the fourth largest in Australia, by power production. The companies intend to co-develop new power business in Australia through IPAH. The Project also strengthens the global partnership between GDF SUEZ and Mitsui, which covers power generation and LNG export businesses across 12 countries worldwide. It signals the ambition of both companies to develop existing assets and expand their cooperation around the world. Mitsui believes this investment will contribute to the stability and ongoing diversification of power supply in Australia. In parallel, Mitsui will seek to maximize the value of IPAH with its recognized strengths in financing, a large local customer base and EPC experience in the Australian power sector. In addition, Mitsui hopes to leverage IPAH’s experience operating in Australia’s highly deregulated electricity market, by promoting electricity retail business, energy efficiency and environmentally-conscious smart city development in Japan and other countries. Closing of the transaction is expected to occur during October 2013, upon satisfaction of certain conditions, including obtaining approvals from Australian regulatory authorities. IPAH Company International Power (Australia) Holdings Pty Ltd Mitsui 28% Ownership GDF SUEZ 72% Head Quater Melbourne, Australia President Alex Keisser (CEO) Business Power generation, power and gas retail services Foundation June, 2003 Project List Name Asset type Location (*1) Capacity (*2) Hazelwood Coal mine and coal-fired VIC 1,675MW power plant Synergen Gas/Light oil fired power SA 396MW plant Pelican Point Combined-cycle gas fired SA 487MW power plant Canunda Wind power plant SA 46MW Simply Energy Power and gas retail VIC (*3) - Total 2,604MW (*1) VIC: Victoria, SA: South Australia (*2) Gross output (*3) Head Quarter GDF SUEZ Company GDF SUEZ S.A. Head Quarter Paris, France President Gerard Mestrallet (Chairman & CEO) Business Power, natural gas and energy services Foundation July 2008 Asset Location Pelican Point Combined Cycle Gas-Fired Power Station For further information, please contact: Mitsui & Co., Ltd. Investor Relations Division Tel: +81-3-3285-7910 Corporate Communications Division Tel: +81-3-3285-7596 Notice: This announcement contains forward-looking statements. These forward-looking statements are based on Mitsui's current assumptions, expectations and beliefs in light of the information currently possessed by it and involve known and unknown risks, uncertainties and other factors. Such risks, uncertainties and other factors may cause Mitsui's actual results, financial position or cash flows to be materially different from any future results, financial position or cash flows expressed or implied by these forward-looking statements. These risks, uncertainties and other factors referred to above include, but are not limited to, those contained in Mitsui's latest Annual Securities Report and Quarterly Securities Report, and Mitsui undertakes no obligation to publicly update or revise any forward-looking statements. This announcement is published in order to publicly announce specific facts stated above, and does not constitute a solicitation of investments or any similar act inside or outside of Japan, regarding the shares, bonds or other securities issued by us. This announcement is for our U.S.$5,000,000,000 Euro Medium Term Note Programme. For diagrams omitted, please see our home page. (http://www.mitsui.com/jp/en/release/2013/1201143_4686.html) Contact: Mitsui & Co Ltd
Mitsui & Co Ltd: Participation in power generation and power/gas retail business in Australia
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