Investment Thesis

There is a pressing need for innovative investment vehicles to fund energy infrastructure investments in emerging markets and to provide international, regional and local institutional investors with the opportunity to participate effectively in such investments.

Cumulative total investment requirements in energy over the next quarter-century (2005-2030) are estimated by the International Energy Agency to reach $20.2 trillion. Power investments will account for 56% of that total.

Regionally, Asia and the Middle East will account for $8.6 trillion (42% of global investments), with developing countries accounting for almost half of total global energy investment.

* Includes small transitional economies ($655 B), trans-regional transport ($376 B) and biofuels ($161 B)

Source: World Energy Outlook 2006 © OECD/IEA 2006, Table 2.3 (p. 77) and Figure 2.6 (p. 78)