EFTA01366639.pdf

Amendment #4 Page 210 of 868 Foca Cur Foca, project is located in the Starnau Vilage Mandsaa District, of Madiya Pradesh India This 11 3 MW capacity project commenced commercial operations wrong the second quarter of 2015 Ths project Wan tracking technok>gy whereby the solar photovoltaic paneis are direction:arty tined and remain in that position evougn the bled the propel M have a 419% owrershp interest in ths project The cointerparly to the PRA is SECI. The PPA Is scheduled to terminate 25 years from the project's COD and provides for a fiat tariff of INR 5 457kWn (approximately SO 09kWi) during is term, with a flat tanff of INR 3 00ArVIM (approximately SO 05/kit‘h) for production 10% above declared capacity factor n a caramel year Additionally. the propel also provides for viabilty gap luting subsides of IM 220 million, 50% payable as early as ttree months atter cornmesohrg and 10% payable every year for five years I rereafter subed to the veiled meeting certain requirements SECI is contractually obligated lo establish an irrevocable letter of credit to secure Its payment chrigatons under the PPA Adltialaiy, SECI is required to hypothecate the revenues d receives isPer its back.to-back metier sale agreement with kcal utilities to the project Mitenum Our hfillemum meet is located in the MOM V doge. Surendranagar Distnct, of Gujarat I rota This 6 9 MIA' opacity project commenced commercial operations during the first platter ot 2012 The project anzes tuition° technology warder to comply with local regulations we roves 74% ownership interest in the protect with our Sponsor indirectly holding Ile remaining 26% ownershp interest The coulerparly to the PPA is Gujarat Una Villas N gam United. or 'GUVNL." a holdrig company that supervises to activities of ts Sir subsidiary =manes that are engaged in the basness of generation. transmeson and distributor, of seectncity. GUVNL has a long-term cretin rating of 'A' by ICRA United, a melt raing agency affiliated with Moolis The PPA is scheduled to termnate 25 years from the commercerrert of commercial operations and provides for a flat lad! of INR 15 COMM (approx-mately SO 24/kWh) for the first 12 years of its term and INR 5 00/Mal (SO 06/Ifv%h) for the remaining 13 years GUVNL iscontractually obligated to establish an irrevocable letter of credit to secure its payrrert obligator* under the PPA SE 25 Our SE 25 project is located in the Paten District of Gujarat. India This 25.0 MW capacity project commenced commercial operations during the first quarter of 2012 This project Lurie. laced tilt technology In order to cornett with local regulations we will acquire 100% of equity ownershp n the protect from our Sponsor (indirectly) dunng the fest quarter of 2017 Pop to the acquisition of the project and pursuant loan intercompany debt instrument in place at the time of this offering, we have the right to receive cow d %Vb./tons from the project company The canterpany to the PPA is GUVNL The PPA is scheduled to terminate 25 years from ter commencement of commercial operations and provides for a flat tariff of INR 15 0060M) (approxmately SO 24/kWh) for the first 12 years of its term and INR 5 00IVAh (SO 08/kWh) for the remaining 13 years GUVNL is contractual,/ obligated to establish an irrevocable letter of credit to secure its payment obligations under the PPA Azure Our Azure project es located in the Drama Village, Surendranagar Deana. of Guarat India This 3 7 MW capacity project commenced commercial operatcns ding the foul) quarter of 2011 This project utilizes bored to technology in order to corrpy with local reglatons. we have a 74% owneishp 'merest n the project, with ors Sponsor in:Mealy belong Ire remaining 26% °wren interest 202 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-0058167 CONFIDENTIAL SDNY_GM_00204351 EFTA01366639