Globeleq Agrees to Purchase Additional Stake in Cote d'Ivoire Power Plant

LONDON, June 1, 2010 - Globeleq Generation Limited, the emerging markets power company, has
signed an agreement with ABB Equity Ventures B.V. to acquire additional
interest in the Azito gas-fired power plant near Abidjan in Cote d'Ivoire.
Earlier in the year, Globeleq signed an agreement with the EDF Group to
acquire its shareholding in Azito.

The company has agreed to acquire ABB's 32.85% interests in Azito
Energie, including its 50% interest in the related operating company
responsible for the operation and maintenance of the plant. The facility
generates approximately 290 MW and supplies to the national grid over
one-third of essential electricity to the country through the privately owned
electricity company, CIE. The plant operates under a 24 year concession.

In co-operation with the Government of Cote d'Ivoire and Azito's
remaining shareholder, IPS, Globeleq is leading a project to expand and
convert the existing plant from a single-cycle power plant to a more
efficient combined cycle power plant. This will provide further capacity
without the need for additional fuel and will increase the total capacity at
the plant to approximately 420 MW.

Mikael Karlsson, Globeleq's CEO remarked: "Upon completion of the
transactions, Globeleq will obtain majority ownership of a quality asset in
the African power industry." He added: "There is a need for continual
investment in established power facilities to focus on reliability, best
practices and increasing capacity to support the social and economic growth
of emerging markets. Globeleq's involvement in the proposed expansion of
Azito will provide additional clean, affordable and fuel efficient power to
the national grid of Cote d'Ivoire."

Globeleq has held an interest in Azito Energie since 2003 and has
participated as a member of the Azito Energie Board. The agreed transaction
price with ABB will not be disclosed.

About Globeleq Generation Limited

Globeleq is an experienced operating power company, actively developing
energy solutions for the emerging markets of Africa, the Americas and Asia.
The company develops economically sustainable projects that support the
continued development of the electric power sector in these regions. For more
information go to www.globeleq.com.

Paul Kunert, Head of Business Development, Africa & Asia of Globeleq Advisors Limited, PH, +44(0)207-234-5400, FX, +44(0)207-234-5486, info at globeleq.com