Indeck Overview May 2011 Capex (2)

Energy for Generations©

Presentation

May 2011

Insight. Inspiration. Independence. 22

Indeck Energy Services, Inc.

• Formed in 1985 from Indeck Power Equipment Company

• Part of the Indeck Group of Companies• Indeck Energy Services, Inc.• Indeck Operations, Inc.• Indeck Power Equipment Company• Indeck Boiler Company• Indeck Keystone Energy, LLC

Insight. Inspiration. Independence. 33

Indeck Energy Services, Inc.

• Developer, owner and operator of power and biofuels projects• Power generation - 3,000 MW internationally• Ethanol and biodiesel - 755 million gal/yr

production• Biomass pellet production -90,000 tons/yr

• Prefer build, own, operate• Flexible - partners

Insight. Inspiration. Independence. 44

Indeck Energy Services, Inc.

• Employee skill sets• Developers• Engineers• Financiers• Procurement• Construction Managers• Asset Management• Operators

• Flat organization

Insight. Inspiration. Independence. 55

Conventional Power Projects

Facility Location Technology Capacity

Commercial Operation Status

FSC Paper Alsip, IL Gas Combined Cycle 9 MW 1987 Sold

Turners Falls Turners Falls, MA Coal Stoker 20 MW 1989 Sold

Yerkes Tonawanda, NY Gas Combined Cycle 53 MW 1990 Operating

Oswego Oswego, NY Gas Combined Cycle 50 MW 1990 Operating

Silver Springs Silver Springs, NY Gas Combined Cycle 55 MW 1991 Operating

Ilion Ilion, NY Gas Combined Cycle 58 MW 1993 Sold

Olean Olean, NY Gas Combined Cycle 79 MW 1994 Operating

Corinth Corinth, NY Gas Combined Cycle 128 MW 1995 Operating

Escuintla Escuintla, GUA Reciprocating Engine 40 MW 1996 Sold

Enfield London, UK Gas Combined Cycle 380 MW 1999 Sold

Rockford I Rockford, IL Gas Simple Cycle 300 MW 2000 Sold

Rockford II Rockford, IL Gas Simple Cycle 150 MW 2002 Sold

Bourbonnais Bourbonnais, IL Gas Combined Cycle 1,682 MW Development Sold

Insight. Inspiration. Independence. 66

Enfield Energy Centre, UK

380 MWCombined

Cycle

Single Shaft

Insight. Inspiration. Independence. 77

Rockford Energy Center

300 MWSimple Cycle

Insight. Inspiration. Independence. 88

Alternative Power Projects

Facility Location Technology CapacityCommercialOperation Status

West Enfield West Enfield, ME Biomass C.F.B. 25 MW 1987 Sold

Jonesboro Jonesboro, ME Biomass C.F.B. 25 MW 1987 Sold

Alexandria Alexandria, NH Biomass Stoker 16 MW 1988 Operating

Senneterre Quebec, Canada Biomass Stoker 25 MW Development Sold

West Enfield Hydro

West Enfield, ME Run of River 13 MW 1988 Sold

Insight. Inspiration. Independence. 99

Indeck-JonesboroEnergy Center

25 MW CFB

Wood-firedBiomass

Insight. Inspiration. Independence. 1010

Indeck OperationsOperating Record

• Operator of 850 MW of generation in both merchant markets and under long-term PPAs

• Plant availability consistently exceeds industry averages

• Efficient plant staffing levels• Proven plant safety programs

Insight. Inspiration. Independence. 1111

Ethanol and Biodiesel Development and Investment

• Equity positions representing 755 million gallons per year of production• Twelve ethanol facilities• One biodiesel facility

• Active investor • Boilers for steam and emissions control• Permitted and development of two facilities

Insight. Inspiration. Independence. 1212

Indeck Ethanol andBiodiesel Projects

FacilityLocation

Capacity(Gallons/Year)

CommercialOperation Status

Little Sioux Corn Processors Marcus, IA 50 Million 2003 Operating

KAAPA Ethanol Kearney, NE 60 Million 2003 Operating

Lincolnland Agri-Energy, LLC Robinson, IL 45 Million 2004 Operating

Big River Ethanol West Burlington, IA 100 Million 2004 Operating

Platte Valley Ethanol Central City, NE 40 Million 2004 Sold

United Wisconsin Grain Producers

Friesland, WI 45 Million 2005 Operating

Granite Falls Ethanol Granite Falls, MN 40 Million 2006 Operating

Iroquois Bioenergy Rensselaer, IN 40 Million 2006 Sold

Western Wisconsin Energy Boyceville, WI 40 Million 2006 Operating

Insight. Inspiration. Independence. 1313

Indeck Ethanol andBiodiesel Projects

Facility Location Capacity(Gallons/Year)

CommercialOperation Status

Cardinal Ethanol Winchester, IN 100 Million 2008 Operating

Blackhawk Biofuels, LLC Danville, IL 45 Million 2009 Operating

Big River Development Various, IA 100 Million Various Development

Highwater Ethanol Lamberton, MN 50 Million 2009 Operating

Total Annual Production 295 Million

Insight. Inspiration. Independence. 1414

Lincolnland Agri-Energy, LLC

45 MMGPYEthanol

Co-Developer& Largest

Shareholder

Insight. Inspiration. Independence. 1515

Biomass Pellet Production Development

• 90,000 tons/yr capacity• Bagged and bulk

product• Residential and

industrial grades• 100% of feedstock from

sustainable forestry practices

• CN rail access

Insight. Inspiration. Independence. 1616

Indeck Biomass Pellet Production Projects

Facility Location

Capacity(Tons/Year)

CommercialOperation Status

Ladysmith BioFuel Center Ladysmith, WI 90 Thousand 2009 Operating

Magnolia BioFuel Center Magnolia, MS 90 Thousand Q4 2011 Development

Total Annual Production 180 Thousand

Insight. Inspiration. Independence. 1717

Current Developments

• Electricity• Wind• Solar PV• Natural Gas

• Biofuels• Co-firing

Insight. Inspiration. Independence. 1818

Wind• Mid to Late Stage

• Wildcat• Phase 1: 50 MW; 54.4% NCF• $100 MM Total Project Costs• Build-out to 200 MW total• South Central Kansas• Market: SPP participants, electric

cooperatives• Donica Creek

• 100 MW; 42.5% NCF• $190 MM Total Project Costs• East Central Illinois• Market: MISO participants, electric

cooperatives

• Early Stage• Minnesota Site

• Up to 300 MW; ~45% NCF• $570 MM Total Project Costs• Minnesota• Market: MISO participants, electric

cooperatives

Insight. Inspiration. Independence. 1919

Solar PV• Mid to Late Stage

• Tonopah• 16 MW; 28.4% NCF• $65 MM Total Project Costs• Central Nevada• Market: NV Energy, California

• Yuba• 20 MW; 25.5% NCF• $85 MM Total Project Costs• Northern California• Market: PG&E territory, CAISO,

WAPA, NCPA, SMUD, CA Muni’s

• Early Stage• PJM Sites

• Up to 20 MW• $85 MM Total Project Costs• Within the PJM footprint; desktop review• Market: PJM participants

Insight. Inspiration. Independence. 2020

Natural Gas• Early Stage• Multiple Sites

• Grid connected• Peaking to Base Load• Market: Confidential

Insight. Inspiration. Independence. 2121

Co-firing• Coal Co-firing Market

Development• Wood Pellets• Hybrid Pellets• Market: Midwest Coal-

fired Boilers

Insight. Inspiration. Independence. 2222

Indeck Energy Services, Inc.

Energy for Generations©

For more information please visit us at:

www.indeckenergy.com