ColGreen Energy, LLCNorth Shore

Solar Electric Generating ProjectCoachella/Imperial Valleys,

CaliforniaNovember 16th, 2011

ColGreen Energy Solar Generating Project

- Solar-powered electricity generation.- Uses silicon cell photovoltaic system.-Array of PV panels at ground level generate DC electricity.- Inverters change DC to AC.- Step-up Transformer to transmission voltage- ColGreen design is 74.88 MWe (100.048 MWp) on 480 ac.- Phase #1 is name-plate rating of 25 MWe (65,000MWh)- Will deliver upwards of 210,000 MWh per year when the site is fully developed and built out.

- Executed 30-year lease (efftv. 8/1/09).- 480 acres, approximately flat.- 2.1 deg uniform slope to south.- Annual insolation:

8,500 Whrs/sq.m per day (dir + diffuse)(Peak 11,000 in June)

- IID 92 KV transmission line on site.- 230 KV transmission line 1 mile north.

ColGreen North Shore Solar Farm Site

ColGreen North Shore – Pilot monitoring site

Permitting by Riverside County(No CEC Permit involvement)

Application filed Dec 2, 2009; CUP 03635- Not in habitat conservation area.- Cultural and Paleontological resource surveys complete.- Aerial Topo flown March 21, 2010; Grading Plan submitted June 1, 2010.- Review by most County Depts complete, Mar 2010.- Geologic soil borings complete March 23, 2010.- Town hall meetings completed April 2010.- Draft WQMP submitted to Flood Control May 2010.-Site Plan complete, incorporating Cty reviews June 4, 2010.- Awarded “Fast-Track” permitting June 15, 2010.-CEQA work deemed complete June 28, 2010.-Permit issued Nov 2, 2010

ColGreen Principals developed and for 18 years operated the nearby47 MW Colmac Energy Biomass Plant.

Operating successfully since 1992, delivering 350,000+ MWh/year

Contributes 400,000 tons/yr to waste mgmt.

No (zero) environmental violations in 18+ yrs

Principal and Alternate Vendors(tentative)

Solar Cells:Available from: JA Solar, Hyundai,

Inverters:Siemens.

Transformers:Siemens

EPC Contractor:Siemens Energy. LOI already in place.

Positions in ColGreen Project ColGreen will provide the site, transmission to IID or

CAISO grid, and will manage project development, permitting, and financing.

ColGreen-Siemens will obtain a 25 year PPA. Siemens EPC will provide engineering,

procurement, and construction of the plant. Siemens EPC will provide guarantees of completion

date, construction cost, electrical output & post COD performance wrap + warranties for extended period between 5-10 years.

ColGreen will Support Siemens O&M as the plant operator.

Fixed Solar Arrays

ColGreen has:

- Extensive energy project development experience (Colmac Energy, for example)

- Extensive operating, environmental and permitting experience (30+ years).

- Extensive experience in the electric power industry and with public utilities.

- Transmission (80 MWe) secured into CAISO grid at SCE Devers substation.

- Site control (480 acres, 30-year lease).- Conditional Use Permit, CUP03635.- Interconnect system impact study near

completion and release by IID (July 31st, 2012).

North Shore Project Financing

ColGreen negotiating withseveral financing entities.

Marathon Capitol retained to assist with financing.

Selection and agreement expected3rd Qtr 2011.

14

Project OverviewColGreen

Colmac

North Shore

ColGreen

Tap Substation

92 kV IIDTransmission Line

• 480 acre site near North Shore, CA 30 year lease

• 100.048 MWp (74.88 MWac) Solar PV• 210,000 MWh/a (baseline, est.)• 80 MWac Transmission Capacity from

Coachella substation to SCE (Devers) secured. Path-42 rerate

• Interconnection options: To CAISO grid via on-site 92 kV line to

Mecca Substation, then new line from Mecca to Colmac Gen-Tie (2 miles) into Coachella substation

To IID via 92 kV line at site.

Flat Panel Solar Farm

Mecca

230 kV IID Transmission

Line

ColGreen – Simulation of layout

75 1-MW blocks, fixed-tilt tracking silicon solar modules

Administration building and control center

ColGreen – 1MW Block layout

ColGreenProject Strengths - Proven Technology

• Simple, proven low-risk PV flat panel technology

• Historical lifetime data enables accurate performance prediction

• Guarantees / Warranties available on major components from manufacturers typically run 20 – 25 years

• All system components are “off the shelf”– No development required– Standard Utility Grade Inverters

• Flat panel ‘Single axis tracking’ PV is good technology for low latitude / high DNI locations

ColGreenProject Status – Financing

• Development equity to close financing is committed.• Discussions to identify and secure commitment for a Tax

Equity investor are under way.• Potential partners for financing have been identified and

negotiations are underway for:1. Construction Financing2. ITC Grant bridge financing3. Tax Equity bridge financing4. Permanent long term financing

• ColGreen financing expected to close in the late-2012.

Done

Site secured, 30 year lease in place Permits secured, Conditional Use Permit received Nov. 2, 2010 Site surveys completed (Archeological, Paleontological, Cultural, Threatened and

Endangered Species, Geotechnical)

2013-2014 Early phase generation late 2012 to early 2013 Construction Complete mid-2014 Successful Acceptance Test, COD

3rd Qtr – 2012

Secure PPA Sign Fixed Price EPC Contract with Siemens Energy/EPC Close Financing Full NTP for EPC, Commence Construction

Continue engineering work to satisfy conditions of CUP Bid for Power Purchase Agreement through RFP or bilateral bid process Secure Interconnection Agreement Make Finance-Advisory selection, start financing due diligence

Done

ColGreenProject Status – Progress To Date

ColGreen – Construction phase

ColGreen – Phased online Generation

• ColGreen is at a significantly advanced development stage– Site control done– Permits done– Transmission Capacity secured– EPC contractor

• Siemens Energy as the EPC contractor enhances the ColGreen NorthShore project with the following attributes

– Strong EPC guarantees– Fixed price with schedule and performance obligations– Best practices in system integration, procurement, and logistics will drive down

project cost and risk.• ColGreen has a clear path to remaining key project Agreements

– Power Purchase Agreement– Interconnection

• The project has strong Financial Metrics.

ColGreenConclusions