Subject: Re: For Hunter/Eric re: FPC and Iberdola
From: "Eric Schwerin" <[email-masked]>
To: "Hunter Biden" <[email-masked]>
Date: Mon, 21 Jun 2010 11:21:38 -0400

I'm talking to Mark about this, FYI.....probably nothing will happen this week.

Eric D. Schwerin
Rosemont Seneca Partners, LLC
1010 Wisconsin Ave., NW
Suite 705
Washington, DC 20007
(202) 333-1880
[email-masked]
P Consider the environment before printing this email.

On Jun 20, 2010, at 7:13 PM, Hunter Biden wrote:

Sent from my iPad

Begin forwarded message:

> From: [email-masked]
> Date: June 20, 2010 11:34:20 AM EDT
> To: [email-masked]
> Subject: Fwd: For Hunter/Eric re: FPC and Iberdola 
> 
> Dude, Happy fathers day,
> I did not want to bother you with this since you had the wedding, but from Howie re: Power in Saudi.
>  
> for your reading pleasure,, if you have interest Mohammed will be in DC this week so you two can meet.
>  
> MD
> 
> 
> 
> 
> -----Original Message-----
> From: Howard Carroll <[email-masked]>
> To: [email-masked]
> Sent: Fri, Jun 18, 2010 4:50 pm
> Subject: For Hunter/Eric re: FPC and Iberdola 
> 
> Mark, as per our conversation <<...>>
>   ABOVE IS A LIST OF SOME OF THE ENERGY PROJECTS THAT WILL BE DONE IN THE KSA BETWEEN THIS YEAR AND 2018
> (much of the following is not in the public domain)
> While the list doesn’t show amounts, they are looking for O and M companies in the energy business to JV with, and they will Own Operate and Maintain a total of 45,000 MWs in independent power producing facilities from 500 MW to 3,000 MW size.
> Totally unknown is that there will be another 35000 MW’s built under the auspices of the 5 major brothers (Princes)
> They usually estimate a cost of $1.2 Bil /1000 mw.
> AGAIN THIS IS ALL CONFIDENTIAL INFORMATION
> Renewable Energy is to be considered.  That’s why Iberdola may be a good choice as well as FPC, and there is more than enough work for both + + +
> The Listed projects will have a form of bidding but the deciders will be the same ones who will do the  35,000 projects that will totally negotiated agreements. 
> The results of how and who is picked will be pretty much the same in both cases.
> Again, not known yet,  the Total anticipated spending is in excess of $100 Bil.
> Once we are working toward agreements with companies that Hunter can obtain, we will set up a SPE for our participation which will include all of the participants on our side.  We don’t know if Hunter is doing this with andthrough Rosemont Seneca or which of those names were his before, but we could even use a version of that like Rosemont Seneca International if it is desirable.  Anything is possible on this side as to names etc.
> Compensation that Mohammed has gotten with one he has already done included a nice monthly retainer for all to share, all expenses and an expected time frame for that of no more than 3 years.  This time frame is necessary to get all the relationships in place etc.  If all is accomplished before that then it is likely the retainer could stop although the entity may want to keep that in place to be of further assistance during the construction and start up. There will then be a success fee and certain rights.
> The energy produced will be purchased by Saudi Electric Company.
> A JV partner will be either that company or the “family” in return for providing to the operating entity 100% of the source of power for the entity at no cost to the entity. (likely for 40% ownership)
> Most likely the success fee to share will be 1% of the project cost, and the group would have first refusal rights to place any borrowings at normal fee rates as well as to place any sale of equity, again at normal rates.
> If Hunter can determine that FPC and/or Iberdola, after they sign a simple NDA, <<...>> would be interested in becoming involved in these projects, and if those companies confirm in an email to me that they do not have anyone in Saudi that is paid for getting them business and would may be compensated even if we bring the business, then we should meet with Hunter in DC either Tuesday the 22nd or Wednesday the 23rd.
> That’s for starters.
> The other H 
> Sen. Howard W. Carroll
> 7250 N. Cicero Ave., Ste 201
> Lincolnwood, IL 60712
> [email-masked]
> 847-568-7000  (p)
> 847-568-7008  (f)
> 312-401-4004 (m)
> 
<Company_Projects_2010_-_2018_(Without_Cost).pdf><MUTUAL_NON_carrollgroup_fill_in.doc>