1) Brendan McGrath is the CEO of Gaelectric, an Irish renewable energy and energy storage company active in Ireland and the US with a pipeline of over 1,600MW of wind and transmission projects. 2) Gaelectric is developing compressed air energy storage (CAES) and other energy storage technologies to integrate renewable energy and provide flexible capacity. Modeling shows CAES can reduce emissions, costs and renewable curtailment. 3) Gaelectric is exploring offshore wind and compressed air energy storage opportunities in Ireland, with the goal of demonstrating technologies and exporting renewable energy to Europe through undersea interconnectors.

1. ‘DOING THE DEAL’ ...The role of the developer Brendan McGrath C.E.O of Gaelectric 1

3. Renewable energy and energy storage

5. Significant development work being undertaken in the EU & US

6. Raised €35m to date – August 08 €25m funding round valued business at €133m2

7. Business Structure 3

9. Will be connected to the grid in accordance with government schedule4

12. Capacity factors +40% Colstrip 500kV Harlowton Kelly Hills Lennep MSTI Chinook

13. Six Elephants in the Energy Business Story Turbine Supplier Finance State Transmission Utility Regulator ‘Gaelectric’s View of The Energy Market’ 6

14. The fable of the mouse and the elephant …Harmony in the Forest 7

15. ElephantsArrival 8

16. ElephantsCreateHavoc 9

17. CEOElephantMeetsCEOMouse 10

18. ElephantsAbideby newProtocol 11

19. Hunters Arrive‘NewMarketEntrants’ 12

20. ElephantsSnaredin RedTape 13

21. MiceCome ToTheRescue 14

22. ElephantAgreesFutureCo-operation 15

24. Cooperation brings unexpected rewards

25. Big is good, but quick is better

26. Recognise the skills of others

27. When the pressure is on adaptability is invaluable16

28. Compressed Air Energy Storage – what is it? 17

30. CAES - a proven storage technology with two plants currently in operation

31. Major advances in the efficiency of the technology

32. Recent international studies confirm tangible system benefits

33. Major demonstration funding available in the US and emerging in Europe

34. Unique geology in the Larne area could be utilised to develop a CAES plant 18

36. Identified key technical/economical relationships between CAES and

37. Renewable penetration levels

38. Portfolio mix

39. System Operation

40. Work completed with RISOE and considered leading edge assessment

41. Demonstrated CAES to reduce emissions, system costs and curtailment

42. CAES shown to be economically viable earliest in Island Grid (2015)

43. This approach can be internationalised19

44. Offshore Energy 20

45. Offshore Energy Survey Area 21

46. Demonstration & Site Development Potential 22

47. 23

48. A bridge into Europe C.A.E.S Ireland An Island Grid provides a demonstration laboratory of how energy storage compliments and assists high levels of renewables in the new SMART GRID DEEPWATER/OFFSHORE WIND Supporting Ireland’s renewable targets and exporting our abundance of renewable energy to Europe DEMONSTRATION PROJECTS These can be supported by European research and development funds & Supported by the European Investment Bank 24

49. TheLuckof theIrish To do any deal the essential ingredient is ‘LUCK’ As it happens the Gaelic for mouse is ‘LUC’ 25