Millmerran Power Facility Dedicated in Queensland, Australia

Millmerran, Australia, January 31, 2003 – The Millmerran Power facility, an 840 megawatt, coal-fired power plant, was dedicated today in a ceremony attended by Queensland Premier Peter Beattie and other federal, state, and local dignitaries. The $900 million power plant and supporting infrastructure represents the second largest private investment in Queensland and the largest such project in the world to be funded on a non-recourse project finance basis.

The plant is owned by Millmerran Power Partners. InterGen, with a 54 percent interest, operates the facility. Millmerran’s other partners include Marubeni Corporation, GE Structured Finance, the EIF Group, and Tohoku Electric Power Co. Inc.

The Millmerran Power station and the Callide C station west of Gladstone, in which InterGen has a 50 percent share, are the first power facilities in the country to use supercritical boiler technology and are the most efficient coal-fired projects in Australia in terms of energy and environmental performance.

“We are very pleased that our partnership with Queensland has enabled us to build a facility which provides reliable, low-cost power, generated in an environmentally responsible manner,” said InterGen CEO Carlos Riva.

Another unique aspect of the Millmerran Power station is its investment in the local community – including infrastructure, education and skills development programs. InterGen is a global power generation firm. The company is operating or building a total of 21 power stations worldwide representing 16,690 MW. It also has projects in active development representing an additional 3,870 MW. The company has projects operating, under construction, and/or in active development in the United States, the United Kingdom, the Philippines, Colombia, Mexico, China, Egypt, Turkey, Brazil, Australia, the Netherlands, Spain, Singapore, and Germany. InterGen is a Shell-Bechtel venture.