EFTA01366616.pdf

Amendment #4 Page 187 of 868 i t Pf..c9! o , In adchton, several new solar programs have recertry been announced trot will be implemented in the next few years, inducing teniers fa Laity °Make purchasere in Me states of Karestaka (500 MOO, Andra Pradesh (500 MW) and TeMonona (500 MW) as well as Tata Power (500 NW) and NTPC (250 MW) Implementation of these programs void sgreicantly increase installed solar capacity in Iron. Soma to attar power, wind power Ms also received strong governmental support. Thermion governments targeting 40 GW of new wind nstalatons by 2019 Several states n India rove feed.in tanff programs with fixed or escalating tarns for arrears of up to 25 years tinier these feed-in tanff progurns, the applicable tares for protects commissioned between fecal year 2014 and 2015 carer°, range from between INR 3 65MM and S 81finsiai, dependwg on the stae capons wain a green state, and whether axelerateddepreciaton is available In additon to the state level feed-ri tend programs, wind developers n India afro bereft from central government proses, ncluding accelerated depreciation and generatai-based oxalises Ongnally effective from 2002 to 2012 and reinstated in 2014. the accelerated depreciaton program provides a tax benefit to wind developers by reducing taxable income in the neel years al a project Irtroduced m 2009, tre generation-based incentives scheme provides wnd developers an INR 0 50i1x1Ah payment for a period of fax to ten years, with a cap of INR 10 millorirelW South Africa The installed base of energy generation capacity in South Afnca increased from 41 OW in 2010 to 43 GW in 2013, a CAGR of 2% The chart below shows Sash Africa s generation capecty fuel mix as of year-end 2013 Fuel %ire Parc Ccel Cl 55 Nuclear 43 Hydro-electric 11 Gas 08 Biomass 06 Solar 04 Wnd 01 Total 1000% Retail electncty paces rose in South Mica by 18% last yea. We expect retail electncty prices in South Mica to cortna to rise due to an accelerating demand for energy South Afnc&s renewable power market has also seen significant growth over the last three years The cumulatwe metalled capecty of renewable energy sources in South Mica grew from 925 MW In 2010 to 1.147 MW in 2013, or a CAGR d 7%. Renewable energy accounted for 8% of overall energy capacity growth from 2010 to 2013 Renewable energy sources are expected to grow 1060 GW Of correlative Installations by 2017, a CAGR of 32% from 2014 to 2017 179 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-0058144 CONFIDENTIAL SDNY_GM_00204328 EFTA01366616