Taegisan Wind Farm (total output: 40MW) was completed in Gangwon Province, South Korea by the joint effort of Eurus Energy Group and POSCO, a leading engineering and construction corporation and was inaugurated at site on November 26.

The inaugural ceremony was attended by some 250 people concerned, including Mr. Kim Jinsun, Governor of Gangwon Province, and Mr. Toshinori Shigeie, Ambassador of Japan to South Korea, who were greeted by a forest of white wind turbine masts towering high in the clear sky.

Gangwon Province is one of the most favorite sightseeing areas in the northeastern part of South Korea, and is highly cherished for the grandeur and pristine beauty of its natural environment. It is expected to be the arena for the Winter Olympics in the future. Taegisan Wind Farm has 20 wind turbines, each rated at 2MW, with their mounting towers implanted on the ridge of Mount Taegi 1,260m above sea level, and is one of the largest wind farms in South Korea. It is capable of supplying about 25,000 households while cutting down on CO2 emissions by some 60,000 tons a year, and also is expected to become a new destination in the area to attract tourists.

Of all 20 wind turbines, ten have already been put into commission, and the remaining half will also be connected to the transmission grid within this year.

Taegisan Wind Farm is Eurus Group's second wind power project in South Korea, and, together with our photovolutaic power generation project put into operation in this May, will be of some help to the materialization of the Republic of Korea's national vision of "Low Carbon, Green Growth Development Strategy" declared by President Lee Myung-bak.

Project Overview

Location

Hoengseong County and Pyeongchang County, Gangwon Province, Republic of Korea

Name of Wind Farm

Taegisan Wind Farm

Power Generation Capacity

40MW (2MW x 20 units/Vestas)

Operating Body

Taegisan Wind Power Corporation
(Eurus Energy Group 50%, POSCO E & C 50%)

Total Project Cost

approx. 85,000 million Korean Won

Purchaser

Korea Power Exchange

Eurus Energy Group took over today all of the outstanding shares in Satomi Wind Farm Co.,Ltd. from IPP Japan, Ltd. (President: Kenshi Suzuki; Address: 1-10, Mita 3-chome, Minato-ku, Tokyo).

This resulted in an addition of a new wind force to Eurus Energy Group's wind power plant in Kanto. Our operation and maintenance system will elicit the maximum out of the Satomi Wind Farm efficiently and effectively.

Eurus Energy Group is determined to amass its experience, know-how and corporate value further through the operation of the Satomi Wind Farm.

With the addition of this wind farm, Eurus Energy Group's total installed capacity of wind power generation has increased to about 330MW in Japan, or about 1,500MW all over the world.

Outline of Wind Farm

Transferor

Satomi Wind Farm Company Limited

Location

Hitachiota City, Ibaraki Prefecture

Name of Wind Farm

Satomi Wind Farm

Rated Output

10.02MW (1,670 kW x 6 units/Alstom-Ecotecnia)

Start Operation

December 2006

Okawara Windfarm, completed in the Okawara Highland, Tokushima Prefecture, by the joint effort of Eurus Energy Group and Yonden Engineering Corporation, to provide a total output capacity of 19.5MW, was inaugurated on September 27, under the auspices of local governments and all the parties concerned with the Okawara Windfarm Project.

The windfarm uses 15 Siemens wind turbines each having an output capacity of 1.3MW, to become the first large-scale integrated wind power system in Tokushima Prefecture. It is capable of feeding about 11,400 households and is expected to reduce 38,700 tons of carbon dioxide a year.

It will be put into commission in this December to increase the total installed capacity of windfarms operated by Eurus Energy Group all over the world to 1,510MW.

Eurus Energy Group has become the first Japanese company fully committed to an offshore wind power generation project promoted jointly with the Scottish Power, a UK electric power utility, and Dong Energy, a Danish electric power utility, in the United Kingdom, to construct a 500MW wind farm in the West of Duddon Sands in the Irish Sea approx. 14 - 23 km southwest of the Barrow-in-Furness coastline. In a 2003 bid for the second phase development of offshore wind power project in the UK, the tri-partite consortium was granted a concession from the Crown Estate in charge of the management of the royal property portfolio. After years of preliminary reconnaissance studies including environmental impact survey, the consortium was finally granted a permit for construction and operation of the wind power project.

Upon consummation, the project will become one of the largest offshore wind power farms in the United Kingdom, and will produce enough clean green energy for over 370,000 homes.

While the ratio of renewable energies to the total energy consumption in UK was 1.5% in 2006, the UK Government is pushing forward with the introduction of renewable energies to increase it to 15% by 2020. The United Kingdom is among the richest in Europe in terms of the availability of locations suitable for offshore wind farms, and is expected to be a spearhead in this high growth potential market. Eurus Energy Group will further expand its global windfarm portfolio by promoting this project.

Project Summary

Construction site

West of Duddon Sands

Max. output capacity

500MW

Developers

Morecambe Wind Ltd.
(a joint venture of Eurus Energy Group, Scottish Power and Dong Energy)

The South-West Sunchang Photovoltaic Power Plant (Sunchang-gun, Jeollabuk-do, South Korea), the first photovoltaic power plant project of Eurus Energy Group, was completed, and its inauguration ceremony was held solemnly today at site with the attendance of the celebrities representing all the parties concerned, including local governments. Its output rating is 994 kW, and the total electricity generated is delivered to the power grid of Korea Electric Power Corporation.

Just as with wind power generation business, the photovoltaic power generation business is expected to grow more and more in the future and it has much in common with wind farm projects in terms of regulatory requirements for project authorization, interconnection with power grids, and construction and operation.

At present, Eurus Energy Group is operating wind farms with a total output capacity of 1,491MW in six countries in Asia, America and Europe. It also is operating the largest wind farm in Gangwon-do, South Korea, and is promoting the development and construction of wind farms at various other parts of the country. Eurus Energy Group is confident that an abundance of its know-how and experience acquired over many years in the wind farm projects can be turned to good account in the promotion of photovoltaic power plants, and the Sunchang Photovoltaic Power Plant commemorates our commitment toward the extension of renewable energy supplies in South Korea.

Eurus Energy Group is determined to operate this power plant safely and stably, and at the same time to dedicate itself to realizing its mission to preserve the global environment by disseminating and expanding clean energy technologies.

Outline of Business

Power Generation Capacity

Approx. 994kW (Photovoltaic power cell modules made by Mitsubishi Electric)

Location

Sunchang-gun, Jeollabuk-do, Korea

Plant Area

Approx. 29,000 m²

Operating Body

South West Solar Power Corp. / Gwangju Metropolitan City, Korea (100% subsidiary of Eurus Energy Group)

Purchaser

Korea Power Exchange

Eurus Energy group acquired two wind farms from Toyota Tsusho.

Toyota Tsusho has been selling wind turbine generators since 2000 and has been playing in the field of wind power generation since 2001.

Through management integration with Tomen on April 1, 2006, Toyota Tsusho acquired 40% of Eurus Energy Holdings share.

Since then, all the parties concerned have studied operational integration for the efficiency and stabilization of their wind farm operations.

As a result, Eurus Energy Group made an agreement with Toyota Tsusho to purchase 100% of Toyota Tsusho's outstanding shares of Wind Tech Minami-Towada Corporation and Wind Tech Yokohama Corporation.

The takeover of the aforementioned shares has increased the total installed capacity of Eurus Energy Group's wind farms to 1,491 MW.

Outline of Wind Farms

Company	Wind Tech Minami-Towada Corporation	Wind Tech Yokohama Corporation
Name of Wind Farm	Tashirotai Wind Farm	Mameda Wind Farm
Location	Kazuno, Akita	Yokohama, Kamikita, Aomori
Output	7.65MW (0.85MWx9units)	10.5MW (1.75MWx6units)
Start Operation	November 2002	October 2003

Three wind farms being constructed under a joint project between Acciona Group, a major engineering and construction group in Spain, and Eurus Energy Group, is scheduled for commissioning toward the end of April 2008 to provide an additional output of 87.1MW, increasing Eurus Group's installed capacity of wind turbines to 519MW in Spain and approximately 1,470MW in the world.

In Spain, the harnessing of renewable energy has been promoted actively as part of the measures against global warming, and it is planned to cover 12% of primary energy demand with renewable energy by the year 2010. In support of this, it has already been determined to install 20,000MW of windfarms by 2010 (as against approx. 15,000MW(*) of windfarms installed as of the end of 2007).

Eurus Energy Group is committed to developing blue-chip projects with focus on Spain as one of the most important markets.

*) Source: Windpower Monthly

Project Overviews

Project

Fonteavia I Wind Farm: 16 wind turbines 20.8MW

Fonteavia II Wind Farm: 22 wind turbines 28.6MW

Bidueiros Wind Farm: 29 wind turbines 37.7MW

Location

Galicia, Spain

Wind turbines

1.3MW per unit, manufactured by Navantia, Spain's leading state-owned Shipbuilding firm, under a license agreement with Danish wind turbine manufacturer Bonus Energy A/S (now taken over by Siemens)

Total project cost

Approximately Euro 110 million

Electricity supplied to and purchased by

Electricity wholesale market in Spain

Eurus Energy Group completed the Noheji Wind Farm at Noheji-machi, Kamikita-gun, Aomori Prefecture, and today put it into commercial operation. This wind farm has a total output capacity of 50MW, ranked the largest among the wind farms available in Aomori and one of the largest in Japan.

The Noheji Wind Farm is installed with 25 units of wind turbine generator, each rated at 2MW. All these units are imported from Gamesa Eolica (Spain). The height of the tower is about 78 meters the turbine impeller blades have a radius of about 40 meters, and their tips peak as high as about 118 meters above the ground. The twenty-five wind turbines are installed on an area of 400 ha within the stock farm. The site stretches along Mutsu Bay between the Shimokita Peninsula and the Natsudomari Peninsula. All of electricity generated by the Noheji Wind Farm will be sold to Tohoku Electric Power Co., Inc.

Upon completion of the Noheji Wind Farm, the installed capacity of wind power plants constructed in Japan by Eurus Energy Group has reached 300MW.

Eurus Energy Group is firmly committed to developing wind farms that serve as a clean yet sustainable source of power supply without emission of greenhouse gas (CO2).

Eurus Energy group has specialized in the development of the wind power generation business since it was established in 2002, and at this time, it has entered the photovoltaic power generation field, which is a clean and inexhaustible energy source, in the same way as wind power generation.

As the first step in this business, Eurus will construct a photovoltaic power generation station with an output of 1MW in Jeollabuk-do in Korea, with commercial operation scheduled to start in June 2008.

1. Background of Entrance into Photovoltaic Power Generation Field
Eurus Energy group was one of the first to see the potential of wind power energy as a solution for addressing global environmental problems and the common worldwide issue of preserving fossil energy resources, and has dedicated itself to the wind power generation business since it has been established with a global development plan including facilities in Japan, the United States and Europe.

As a pioneer in the field of wind power generation, Eurus currently operate plants in six countries with a total capacity of 1,336MW (352MW in Asia, 344MW in the United States and 640MW in Europe).

The field of photovoltaic power generation has shown nearly the same growth potential as wind power generation in recent years, and entrance into this business is extremely similar to the wind power generation field, from the selection of candidate sites to the construction and operation of power stations. Eurs Energy group made the judgment that it could utilize the experience and know-how that it has acquired in the wind power generation business and apply it to the photovoltaic power generation business.

In addition, the Korean government has established a goal of procuring 5% renewable energy out of it total power generation consumption by the year 2011, with respective targets of 1,700MW for wind power energy and 1,000MW for photovoltaic power energy. In line with this policy, the government has come out with various support policies.

In order to facilitate the serious development of the photovoltaic power generation business in Korea, our group has established the Eurus Energy Korea Corporation (Seoul) as an overseas subsidiary company. In addition to constructing the largest wind power generation plant in Gangwon-do, in the northeast of South Korea, we are pursing an aggressive development program in other locations in the country. At the same time, there is a favorable environment for the photovoltaic power generation business, and we have conducted various surveys at a number of promising sites.

This has resulted in the decision to proceed with the photovoltaic power generation business in Sunchang-gun, Jeollabuk-do, Korea, which is one of the areas with the highest volume of photovoltaic radiation throughout the year in Korea.

2. Outline of Business

Power Generation Capacity

1MW (Photovoltaic power cell modules made by Mitsubishi Electric)

Location

Sunchang-gun, Jeollabuk-do, Korea

Plant Area

Approx. 29,000 m²

Start of Operation

June 2008

Operating Body

South West Solar Power Corp. / Gwangju Metropolitan City, Korea (100% subsidiary of Eurus Energy Japan)

Purchaser

Korea Power Exchange

3. Future Prospects
Since the utilization of renewable energy will decrease the dependence on fossil fuels, help control the worldwide problem of global warming and contribute to sustainable economic development, high expectations have been placed on this business because of the social contributions it will make.

By focusing on the steady promotion of this project, Eurus Energy group will endeavor to further enhance its corporate value based on our corporate philosophy of "Helping preserve the global environment through the promulgation and expansion of clean energy."