EFTA01367193.pdf

Amendment #4 Page 764 of 868 Whit of Cont.. ni. Energia Eblica de Honduras, S.A. (A Honduran Entity) Notes to Financial Statements December 31, 2014 and 2013 (amounts expressedin US draws) 1. Corporate information Energla Etilca de Honduras. S A ('Energla Entice or 'the Company') was organized as a corporation on June 10 2005 under tie laws of the Republic of Honcetras where the Company is domiciled As of December 31. 2014 the Company is a 99.9% sitediary of Globeleq Mesoarnerca Energy (Wnd) Lolled COME Wind), a company incorporated m Bennuda. and Energla EMica's Uomate parent company isActs Irdrastructize Find 2LP The Company's man moray a the operation of a 126 megawatt wnd park called 'Cerro de Hula' and the sale of energy to the Honduran National Electnc Energy Company (ENEE) through the power purchase agreement signed between me parties Energy sales began m October 2011. This ac4wty is regulated try Honduras electricity law No 158-94 of Novernber 1994 (Haeuran Law—Electncey SW-sector) On October 1.2006 Energla Erica entered into a 20-year power purchase agreemert ('PPR) with the Honduran National Electric Energy Company CENEE1 to operate a 102 megawatt wind park ('Cairo Co Hula Protect' or the Protect') The Company was granted the 'commercial operation status (as dittoed in the PPA) by ENEE on December 21. 2011 On December 20. 2012 the PPA was amended to contemplate that a) the Convany would increase tne wind tames ciPaellY by 24 megawatts to reach a real of 126 megawatts, and b) the PPA's term would increase from 20 to 25 years starting on Decenter 21, 2011 and eroding on Decenter 2036 Construction of the 24 megawatt expansion ('the Propel Expanaort1 began on November 22 2013 Acceptance of compliance by ENEE with the Project Expansion's technical requrernents was grafted on November 13. 2014 The Project Expansion started generabng power in November 2014 The Project was registered as a Clean Development Mechanism (COM) Protect under the United Nations Framework Convention on Climate Change on Apni 24 2012 and tor a 10 years crediting period. from April 24 2012 though April 23 2022 The Protects trerefore eligible to issue Certified &MOO, Reductions (CERs) starting on April 24 2012 The Company does rot have traded deg or &pity in the pubkc markets. The actorreerrying finanael statements have been prepared for Lee in a securities long in connecton with trie aoquiston of the Company as explained m Note 23 2. Regulations governing autonomous private or parallel generation of electricity As per HondLran regulator, ether public private, or mixed comp Wes suited to Law No 158-94 of November 1994 wit have the (wowing omens to sell the eledraty produced a) sell dreary to a large consuner or deinwing company; m these cases they must Imild the Ines necessary to do so and b) sell tree electricity to ENEE In the latter case. II the sale is by initiative of a paean or nixed eHM. ENEE will {patentee the purchase of the production d it is sold at a price equal to or less than the shon.term marginal cost r the salefpurchase is promoted by ENEE, the rate will be that resutng from the oorrespondng tender and the terms of the contract The purchase of Energla EOlicas energy is prorroted by ENEE. F-444 http://cfdocs.btogo com:27638/cf/drv7/pub/edgar/2015/07/20/0001193125-15-256461/d78... 7/20/2015 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0058721 CONFIDENTIAL SDNY_GM_00204905 EFTA01367193