24 MARCH 2010

GGPC subsidiary companies sign EPC and Technology contracts
for two 17.5 MW Multifuel Biomass Power Plants and a Letter of Intent
for a third 35 MW unit for the Philippines.

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Up from left to right: Wu Zhengping, Economic & Commercial Counsellor of the Chinese Embassy in the Philippines; Alberto Dalusung III, Dir. of Global Green Power PLC Corporation; Grace Yeneza, Dir. of Global Green Power PLC Corporation; Maribeth de Montaigne, Dir. and Founder of Global Green Power PLC; Jerome Le Borgne, SEA Sales Manager of DP Clean Tech; Hon. Ramon Santos, Undersecretary of Energy; Hon. Celia Capadocia-Yangco, Secretary of Social Welfare and Development; Hon. Mary Rose Crisostomo, Undersecretary of Energy; Excellency Liu Jianchao, Chinese Ambassador to the Philippines; Excellency Stephen Lillie, British Ambassador to the Philippines; Excellency Heikki Hannikainen, Finnish Ambassador to the Philippines; Hon. Lilia B. de Lima, Undersecretary & Dir. General of Philippine Economic Zone Authority; Marriz Agbon, President of Philippine Agricultural Development and Commercial Corporation; Henrique Caetano, Project Development and Communications of Global Green Power PLC Corporation; Nicky Gemperle, President of Poyry Energy Inc; Steve Waterfield, Chief Executive Officer of Global Green Power PLC; Peter Heinzelmann, Managing Director of Poyry Energy Inc and Eloisa Vinluan, Finance and Administration Manager of Poyry Energy Inc. Down from left to right: Simon MacKinnon, Chairman of Global Green Power PLC; Kai Johan Jiang, Chairman and Founder of DP Clean Tech; David de Montaigne, President and Founder of Global Green Power PLC; Richard Pinnock, Executive Vice President Group Strategic Growth, Poyry PLC and Gordon Thomson, Group Chief Financial Officer of Global Green Power PLC.

Green Power Panay Philippines Inc. and Green Power Nueva Ecija Philippines Inc., subsidiaries of Global Green Power PLC Corp. have signed Engineering Procurement and Construction (“EPC”) contracts with Poyry Energy Inc for two 17.5 megawatt (17.5 MW) power plants and DP CleanTech for Multi-Fuelled Biomass Boiler Islands for biomass power plants located in Mina, Iloilo on Panay Island and Nueva Ecija in Luzon.

Green Power Bukidnon Philippines Inc., another GGPC subsidiary, also signed a letter of intent for a further 35 Megawatt plant in Bukidnon, Mindanao.

The British, Chinese and Finnish Ambassadors to the Philippines along with the Secretary Celia Yangco of DSWD, DOE Undersecretary Ramon Santos, DOE Undersecretary Mary Rose Magsaysay-Crisostomo, Undersecretary & Director General Lilia de Lima of PEZA, Marriz Agbon, President of the Phil. Agricultural Development Corp., and a host of other government and industry dignitaries were present to celebrate and witness the signing of agreements between British invested Philippine company GGPC, Poyry Energy Inc, of Finland and DP-CleanTech of China.

The signing ceremony, which will pave the way for the construction of the plants, was held at the British Ambassadors Stephen Lillie’s Residence in Makati’s Forbes Park.

The biomass power plants will provide grid connected, sustainable, decentralized, clean, base-load renewable energy, utilizing abundant local agricultural waste as an indigenous fuel whilst delivering significant additional income and employment to the agricultural sector within the Philippines.

The GGPC subsidiary companies have secured long-term 25-year biomass supply contracts through sister company Global Biomass PLC Corporation. The projects have been fast tracked at the request of the DOE to help alleviate the severe power shortages within their respective regions.

Pöyry Energy Inc. as EPC contractor is a member of Pöyry PLC, the fourth largest engineering consultancy in the World and has successful experience in delivering small to mid-size turnkey power plant projects, especially in the developing countries. Renewable energy is increasingly becoming a choice when new power plants are planned.

Contributing to climate change mitigation with sustainable solutions for energy production is in line with Pöyry’s stated ambition for being a thought-leader in engineering balanced sustainability. The power will help address the severe power crisis currently being experienced within the Philippines. The biomass power plants are to be built to strict environmental standards, in accordance with the latest World Bank and International Finance Corporation recommendations.

Technology is being provided by China based DP CleanTech. The three new state-of-the-art biomass power plants will utilize agricultural wastes such as rice husk, sugar cane residue and rice straw. DP CleanTech owns some of the world’s foremost high efficiency biomass technology and was chosen to supply the project due to its experience in biomass systems and its competence in dealing with mixed fuels.

National Bio Energy (DP CleanTech’s sister company) has demonstrated biomass power plant model to great effect in China with over 400 MW of installed capacity that will increase to around 1000 MW by the end of 2011. It is expected that NBE will provide Chinese farmers with RMB 1.7 billion or around Pesos 11.3 billion in additional income in 2010, a figure topped only by the government for rural subsidies in China.

GGPC plans to replicate these efforts in the Philippines by developing 420 MW of Biomass Power Plants over the next 7 years under an additional technology agreement to be signed with DP CleanTech in Beijing April 2010. GGPC plans to invest at total of around $1 billion for the entire 420 MW Biomass Plants.

“We are very excited about the GGP project as they share our vision of biomass, the need for scale, track record and quick roll out to become a market leader and a national champion in renewable energy in Philippines. Winning the deal has come at an exciting time for DP CleanTech, particularly after the recent strategic agreement made between holding company Dragon Power and the China Construction Bank for a USD 4 billion credit line. This will give the group access to resources to continue the rollout of biomass power plants in China;” Kai Johan Jiang Chairman of Dragon Power Group stated.

“DP CleanTech and Poyry Energy have been selected to deliver our biomass power plants due to their Best in Class and proven Engineering, Operations and Equipment solutions. In addition, GGPC’s close relationship’s and agreements with DP CleanTech and Pöyry will enable our rapid roll-out of 420 MW’s of Biomass Power to help alleviate the severe energy crisis gripping the Philippines. GGPC plants are strategically located within the Philippines to take advantage of abundant biomass resources, the use of which will deliver significant additional income to the farming community whilst providing, clean, stable, grid connected, base-load renewable energy”; Steven Waterfield of Global Green Power PLC stated. The contracts will become effective when the financial close for each project has been achieved.