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
Ownership	Mitsui 28% GDF SUEZ 72%
Head Quater	Melbourne, Australia
President	Alex Keisser (CEO)
Business	Power generation, power and gas retail services
Foundation	June, 2003

Project List

Please scroll horizontally to look at table below.

(*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

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