Globeleq Appoints New CEO

LONDON - Globeleq Generation Limited - the power generation company solely focused on the emerging markets of Africa, Asia and the Americas - has further strengthened its executive management team with the appointment of Mikael Karlsson as Chief Executive Officer.

Mikael brings extensive senior management experience in global development, acquisition, financing and equity investments of energy and infrastructure assets with 19 years in the industry.

“We are delighted to appoint such a well-suited candidate to lead the company into a new era of growth and development,” Torbjorn Caesar, Chairman of Globeleq commented. “Mikael’s wide-ranging experience in the emerging markets energy industry, combined with his engineering background, places him in a unique position to identify successful investment opportunities to safely provide reliable power to Africa, the Americas and Asia.”

Mikael’s association with Globeleq started in 2002 when he was advising on acquisition opportunities in Africa and Asia. He was subsequently appointed as Head of Corporate and Project Finance. In 2003 he co-founded InfraInvest, which advised on energy and infrastructure investments and led to the inception of Arox Infrastructure and Arox Capital, focusing on the management of infrastructure funds.

His career commenced in 1990 at the newly created ABB Equity Ventures, which developed and invested in independent power projects throughout the world. Mikael’s abilities and skills were quickly recognized and over the next 12 years he held various senior management positions within the company including global head of development and new investments.

On his appointment as the new CEO, Mikael said, “Joining Globeleq is a wonderful opportunity and I am fully aware of the challenges ahead. With its proven success as an operating power company in the emerging markets, the company is entering a very exciting period of growth and development. I’m delighted to play a key part in generating that growth. I am also very passionate about supporting economic development in the emerging markets through the delivery of reliable and affordable power while at the same time creating sustainable returns on our investments.”

Originally from Sweden, Mikael graduated with a Master of Science in Industrial Engineering and Management. In 1989 he completed his MBA at the University of Massachusetts.

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

Source: Globeleq Generation Limited

Susan Wilkins, or Paul Kunert, +44-0-207-234-5400, fax, +44-0-207-234-5486, info at globeleq.com, both of Globeleq Generation Limited