Ichinoseki Solar Power Project Update

GPSC GPSC has been invested in 20.8 MW solar PV in Ichinoseki, Japan which will COD in Q4 2017 Aomori Akita Iwate Hokkaido ICHINOSEKI SOLAR POWER 1 GK Yamagata Miyagi Nagano Saitama Yamanashi Chiba Fukushima Nigata Tochigi Toyama Gunma Ishikawa Ibaraki Fukui Gifu Tottori Hyogo Kyoto Shiga Aichi Shizuoka Tokyo Shimane Okayama Kanagawa Mie Nara Hiroshima Kagawa Yamaguchi Y Tokushima Ehime Osaka Fukuoka Kochi Wakayama Saga Oita Nagasaki Kumamoto Miyazaki Kagoshima GPSC's First Expansion to Japan's Renewable Energy Sector • GPSC has tapped into Japan market with the current 20.8 MW solar project. • Still, given the high feed-in tariffs, low financing cost, there are still the unutilized solar-potential areas worth exploring further. Project Location Type Capacity Customer SCOD Type of investment Total Investment D/E Progress 2Q16 Feed in Tariff* Interest rate EPC Ichinoseki Solar Power 1 (ISP1) Ichinoseki, Iwate Prefecture, Japan Solar Electricity: 20.8 MW Tohoku Electric Power (20 years) Q4 2017 Godo Kaisha Investment (GK) ~10,000 JPY million 4:1 56.7% (Site preparation) 40 JPY/kWh for 20 years < 2% for 20 years, Shinsei Bank Conergy Group Remark: *Tax inclusive 3 Knowledge Sharing

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