BUSINESS REVIEW

RENEWABLE ENERGY

NTR plc has taken strategic positions in solar and wind energy and corn-based ethanol, with an initial focus on North America. In 2008, the Group acquired a controlling interest in Stirling Energy Systems and subsequently formed Tessera Solar, in addition to a controlling interest in Wind Capital Group. In October 2008, the Group completed the merger of its US ethanol business, VBV, with Green Plains Renewable Energy, Inc. (NASDAQ: GPRE) and has a 45% interest in NASDAQ listed GPRE.