IEP is a privately held energy firm based in Pittsburgh, PA, (USA) specializing in the development of both conventional and renewable energy projects worldwide. IEP pursues projects in some of the most challenging environments in the world. IEP achieves successful results by building an integrated project team consisting of US-based personnel and subcontractors melded together seamlessly with in-country resources. We have mastered intricacies from accessing international finance to the challenges of working within different cultural milieus and business practices. Every day we learn something new and take what we’ve learned to do our job better within a code-of-ethics in accordance with the FCPA. Our belief is that growth and prosperity must be built upon a stable, sustainable, and reliable power generation and distribution system. IEP’s mission is to provide the highest value and best use of a host country’s capital and natural resources to deliver price competitive power. We seek to foster a spirit of teamwork with a host country’s people and governments in order to enhance national living standards, create energy independence and advance national development goals by providing low cost, reliable energy. In short, while IEP is a for-profit company, we seek to contribute to more than just the bottom line.

INTERNATIONAL

PROJECTS

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to do well

by

DOING GOOD.

PANAMA

POWER PURCHASE AGREEMENTS On September 5, 2014, the Republic of Panama issued an emergency request for proposals for 200 MW of thermally-generated power. IEP put together a plan to rehabilitate an existing facility.
Project Summary - Panama Power Purchase Agreements On September 5, 2014, the Republic of Panama issued an emergency request for proposals for 200 MW of thermally-generated power through the state-owned transmission company, Empresa de Transmision Electrica, S.A. (ETESA). IEP placed a successful bid and was officially notified that its wholly-owned subsidiary Erryl Capital, Inc., a Panamanian corporation had been awarded a series of Power Purchase Agreements (PPAs) to supply 80 MW. IEP had put together a plan to rehabilitate an existing facility and employ two GE LM-6000 aero-derivative turbine generators running on #2 fuel oil. Concurrent with execution of the PPAs, Erryl Capital posted performance bonds with the three distribution companies worth approximately $19.6M. The three PPAs, (each of which has identical contract terms) were allocated amongst the distribution companies in the following percentages: EDEMET 52%; ENSA 40%; EDECHI 8%. The PPAs provided payments for both electric energy and capacity each of which are in effect for a five (5) year term. Capacity pricing is initially $58.00/MWh, and increases by 2% annually. The initial energy price is $148 MWh, 90% of which is adjusted by changes in the #2 fuel oil index relative to its August 2014 level of $2.77/gallon. In Panama, IPPs are responsible for its replacement power during both scheduled and forced outages. This risk is mitigated by Panama’s robust and liquid wholesale electricity market. During the development of the project, due to the reliability and growth of the Panamanian market, a number of investors approached IEP to purchase the PPAs. While IEP’s original intent was to build, own and operate the project, IEP did sell the PPAs on favorable terms such that a portion of the sales are to remain in the region for investment purposes.
Project Summary - Grand Cayman Solar Park In Grand Cayman, grid-connected power is primarily produced by diesel generators and bunker fuel. The price of electricity payable by Grand Cayman residents has exceeded an equivalent of US$0.40 per kWh. Caymanians have craved the economic and environmental benefits of utilizing abundant and free solar resources. In response to this demand, Caribbean Utilities Company, Ltd. (the Island’s utility company, which is publicly traded on the Toronto stock exchange) solicited proposals to develop up to 13 MW of renewable generation. IEP was fortunate to be awarded a mandate to develop 5 MW of solar against a 25-year power purchase agreement. IEP vision was a utility-scale solar park, which will be the first-of its-kind in Grand Cayman. A LEED-certified construction firm with 20 years of experience in the Caribzbean was also engaged to undertake the design, engineering, procurement and construction (EPC) responsibilities. Global equipment manufacturers and Grand Cayman-based contractors were engaged in the project. The Project was so impressive that multiple investors bid to finance this highly visible and environmentally important development. Ultimately, IEP sold the Project as a capital asset on favorable terms. The solar park is expected to be operational in late 2015 or early 2016. GRAND CAYMAN SOLAR PARK In Grand Cayman, grid-connected power is primarily produced by diesel generators and bunker fuel.

GRAND CAYMANS

IEP PAKISTAN At IEP, our belief is that growth and prosperity must be built upon a stable, sustainable, and reliable power generation and distribution system. Pakistan was targeted due to its fragile state, importance to US security interests and severe shortage of electricity and potable water.

PAKISTAN

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PROJECT PHOENIX Project Phoenix offers numerous environmental, social and economic benefits, not the least of which is the creation of over 1,500 permanent and skilled jobs that include a robust training and educational program.

HAITI

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603 Stanwix Street

Gateway Two, Suite 1825

Pittsburgh, PA 15222, USA

Phone  1.412.567.1500
Fax  1.412.567.1501
info@iepwr.com

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