Information Concerning Potential Merger Partners

DUQUESNE LIGHT COMPANY
Information Concerning Potential Merger Partners
Pending Acquisition
On October 20, 2014, Cleco Corporation, a public utility holding company and owner of
regulated electric utility Cleco Power LLC, announced that it has entered into a definitive
agreement to be acquired by a group of North American long-term infrastructure investors led by
Macquarie Infrastructure and Real Assets (MIRA) and British Columbia Investment
Management Corporation (bcIMC), together with John Hancock Financial and other
infrastructure investors (collectively, "investor group"). MIRA indirectly owns greater than 10%
of Duquesne, thus Duquesne is treating Cleco Corporation and its affiliates, as affiliates.
Cleco Corporation is a public utility holding company headquartered in Pineville, Louisiana.
Cleco owns a regulated electric utility company, Cleco Power LLC, which is engaged principally
in the generation, transmission, distribution, and sale of electricity primarily in Louisiana. Cleco
Power owns 11 generating units with a total nameplate capacity of 3,340 megawatts. Cleco
Power serves approximately 284,000 customers in Louisiana through its retail business and
supplies wholesale power in Louisiana and Mississippi.
Cleco Corporation
P.O. Box 5000
Pineville, Louisiana 71361-5000
Pending Acquisition
As filed with FERC on November 6, 2014, Samchully Power & Utilities 1 LLC (SPU1) and
Freeport-McMoRan Copper & Gold Energy Services, LLC (FMES), a public utility, requested
Commission authorization in a Joint Application for Authorization for Disposition of
Jurisdictional Facilities and Request for Expedited Action and Abbreviated Comment Period, to
transfer FMES’ 1/3 undivided interest in Luna Energy Facility (“Luna”) to SPU1. Luna is a
nominally rated 570 MW natural gas-fired combined cycle electric generation facility located in
Deming, New Mexico, which was placed into operation in April of 2006. As a result of the
Transaction, SPU1 will hold rights to approximately 190 MW of capacity produced by Luna.
SPU1 is a wholly-owned subsidiary of the trustee of Samchully Power & Utilities Private
Placement Special Asset Fund 1 (“Samchully Fund”). Samchully Fund is an investment trust in
Korea managed and controlled by Samchully Asset Management Company (“SAMCO”), which
is an asset management company based in Seoul, South Korea. SAMCO is a joint venture
between Samchully Co., Ltd. (“Samchully Co.”) (87.5%) and Macquarie Bank International Ltd.
(“Macquarie Bank International”) (12.5%) that specializes in natural resources and energy
infrastructure investment. Macquarie Bank International is a wholly-owned subsidiary of
Macquarie Group Limited (“MGL”).
Updated January 20, 2015
MGL is affiliated with entities that own or control electric transmission or distribution facilities
within the United States. MGL indirectly owns 10% or more of the outstanding voting interests
in Duquesne Light Company (“DLC”) and Puget Sound Energy, Inc. (“PSE”) thus Duquesne is
treating Samchully Power & Utilities 1 LLC and its affiliates, as affiliates.
Samchully Power & Utilities 1 LLC
2711 Centerville Road, Suite 400
Wilmington, DE 19808
Updated January 20, 2015

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