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Developing clean distributed power for Indonesia

ADB Inclusive Business Roundtable Jakarta 10-16-12


CONFIDENTIAL NOT FOR PUBLIC DISTRIBUTION

RiverGen Overview
Company Mission, Vision & Goals
Become Indonesias leading independent power producer of clean
energy in the mini- & micro-hydro sector.

Mission

Vision

Contribute to the growth of the Indonesian economy while improving the countrys overall environmental & health quality standards.

Goals

1. Acquire & develop mini-hydro sites with generating capacities of up to 10 megawatts (MW).

2. Utilize project financing to invest a maximum of 30% equity in each


site depending on lender requirements. 3. Introduce industry leading best practices in all phases of site development from feasibility assessment to watershed monitoring.
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RiverGen Overview
Company Objectives
RiverGen currently is seeking to raise $40MM in equity to establish a company that will build 10 15 mini-hydro sites with individual generating capacities between 6MW 10MW over the next 5 years.

1. Start-up

2. Scale-Up

3. Completion

Equity Debt Primary Activities

$10 Million $25 Million Complete start-up & internal procedures Demonstrate ability to develop initial sites

$25 Million $60 Million

$40 Million $90 Million Complete development of all sites Investigate exit potential for investors
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Demonstrate ability to acquire new sites Operate & manage multiple sites

RiverGen Overview
Company Management & Board
Iman Naluri Operations Director; 25+ years experience developing and operating large-scale & micro-hydro sites in Indonesia 2. Darren Miao Managing Director; 10+ years in private equity & social enterprise sector

RiverGen Management

1.

3.

Riarno Haryowibowo Finance & Legal Manager; 5+ years in


Indonesia infrastructure private equity & entrepreneur

RiverGen Board

1. 2.

Board Chair Aldi Haryopratomo; CEO of PT Ruma (www.ruma.co.id) Board Member Sutiono Teguh, CEO of Nusa Konstruksi Enjiniring (www.dutagraha.com)

RiverGen Overview
Company Opportunity
RiverGen seeks to capitalize on a unique set of market conditions that creates

an attractive business opportunity executable over the next few years.

Favorable Regulations National effort to promote renewable energy

Large-scale Potential Significant untapped mini-hydro power potential

Fragmented Market Lack of experienced multi-site mini-hydro developers

Existing Local Expertise RiverGen merges 3 companies with 9 total active sites

Available Funding Multiple funds seek investments in Indonesia mini-hydro


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RiverGen Overview
Company Foundation: PT Naluri Energi Utama & PT Inti Duta Energi
While RiverGen will be the legal entity owning the mini-hydro sites, the companys core team & processes for developing new sites will be based on the existing experience & expertise of PT Naluri Energi Utama & PT Inti Duta Energi.
PT Naluri Energi Utama Founded 10-12-2008 Board of Directors Managing Director: Iman Naluri Board of Commissioners: President: Sutiono Teguh Riarno Haryowibowo Shareholders: Sutiono Teguh (33.3%) Iman Naluri (33.3%) Riarno Haryowibowo (33.3%) PT Inti Duta Energi Founded 23-09-2011 by Nusa Konstruksi Enjiniring Board of Directors: Djohan Halim General Manager: JB Koesnarno Board of Commissioners: Laurensius Teguh Khansanto Tan Shareholders: PT Nusa Konstruksi Enjiniring (99.999%) Individual Shareholder (0.001%)
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RiverGen Overview
Company Process Overview
1. Site Pipeline
Key Objective
Identify potential sites in most efficient & costeffective manner. Obtain principal permits to begin site feasibility studies. Obtain approval from regulatory agencies to begin site construction activities. Sign contract with PLN to obtain project financing for site construction. Complete site construction ontime & on-budget. Ensure optimal performance & to detect potential issues early-on.

2. Site Permitting

3. Site Feasibility

4. Site PPA & Financial Close

5. Site Construction

6. Site Operations

Key Tools & Documents


1. GIS macro-criteria screening 2. Pre-Feasibility Site Excel report 3. Pre-Feasibility On-site SOP 1. Standardized Project Proposal 2. Licensing & Permitting SOP 1. Standardized Feasibility, UKLUPL & Design 2. Subcontracting & Bidding SOP 3. Community Engagement SOP 1. PPA & Financial Close SOP 1. OHS & CHS SOPs 2. Subcontracting & Bidding SOP 3. Project Management SOP 1. OHS & CHS SOPs 2. Project Management SOP 3. Community Engagement SOP

Key Decisions
Board/Investment Committee approval of PreFeasibility Report Management approval of site license expenses Board/Investment Committee approval of Site Design & Budget. Board/Investment Committee approval of Loan Terms. Quarterly Review of Progress Reports with Board/Investment Committee Quarterly Review of Site Monitoring Reports with Board/Investment Committee

RiverGen Overview
Company Risk Mitigation Strategy
RiverGens strategy proactively addresses the major risks associated with

developing mini-hydro sites in Indonesia.


Major Risk
Risk Description Delays in licensing & permitting will affect RiverGens ability to meet target completion date. Delays in construction representing up to 70% of a sites expense can greatly decrease a sites IRR. Reduction in water flow quantity & quality and/or high water flow variability will reduce site performance. Site revenues are directly correlated with the number of days a site is available for power generation. RiverGen Mitigant Established pipeline of sites Experience working w/ government Grouping of site locations Partnering with leading microhydro developer & construction company Secured developer as anchor investor Watershed mapping Geo-tagging and monitoring Deep stakeholder engagement Existing operational experience Knowledge transfer to local staff

1.

Site Licensing & Permitting

2.

Site Construction

3.

Durable Water Supply

4.

Site Operation

Proactive community engagement

RiverGen Overview
Company Community Benefits
RiverGen plans to adhere to the Equator Principles & generate significant nonfinancial benefits to the environment & surrounding communities during operations
Local employment & knowledge transfer during development & operations 80 90% of construction staff hired locally Construction & improvement of local infrastructure Access roads, land grading, transmission lines, etc. Increased tax & tariff revenues to local governments Up to 5% of gross revenues & 3 5 IDR / kWh in new tariffs

Economic Development

Rural Electrification

The company will be building new transmission lines from its sites to the national electrical grid which will facilitate rural electrification. 1 MW installed capacity can support up to 1,000 1,500 households Work with local government & PLN office to connect households
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RiverGen Overview
Company Expected Environmental Benefits
In addition to economic & electrification opportunities for the Base of the Pyramid, RiverGen also expects to generate significant Pollution Reduction
Carbon dioxide ( CO2) - ~6,500 tonnes diverted annually per MW installed Sulfur oxides (SOx) - ~38 tonnes diverted annually per MW installed Nitrogen oxides (NOx) - ~15 tonnes diverted annually per MW installed Particulate Matter (PM10) - ~1.8 tonnes diverted annually per MW installed

Key Assumptions

Category

Assumption

Full Load Efficiency Factor


Gross Electricity Generated CO2 emission rate

80%
7,008,000 kWh 925 g / kWh

SOx emission rate


NOx emission rate PM10 emission rate

5,353 mg / kWh
2,203 mg / kWh 250 mg / kWh
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RiverGen Overview
Company Contact Information

www.rivergen.net
Darren Miao Managing Director darren@rivergen.net Mobile: +62 8778 1515 268 Skype: darren.miao Iman Naluri Operations Director iman@rivergen.net Mobile: +62 8132 1374 855 Skype: iman.naluri Riarno Haryowibowo Finance & Legal Manager riarno@rivergen.net Mobile: +62 856 1040 222 Skype: riarno.h

Sutiono Teguh Board Member sutionoteguh@gmail.com

Aldi Haryopratamo Board Chair aldi@rivergen.net Mobile: +62 8158 4617 290 Skype: haryopra

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