EFTA01366619.pdf

Amendment #4 Page 190 of 868 JNe it coi win Key dnyera d renewataa energy °roach en Halms The Honduras energy man* is fele re on 'mud foesI fuels for power generation, therefore, Honduras' power prices we serene rood pace rtictuabons Tie goveovners of Honduras has been focused on changing the country's energy matrix. fostering the development of renewable energy generation. Under the Honduras Nations i Plan 2010-2022, the government has set a goal the 50% of Honduras' electricity demand be net by renewable energy generation by 2022 To acneve ties goal, the l-teetran government eves preterental tax tre,sirrert for renewable energy protects (tax exemption fromincome tax, mport duty and sales tax) and provides a 10% payment bonus for MW solar PV protects (less Man 50 MM!) related by yearend 2015 Coatelike From 2010 to 2013, the installed based energy generation capacity in Costa Rica res increased from 2.4GW to 2 7 GW or a CAGR oft% The den below shows Costa Rase generation capacity fuel mix as d yearend 2013 Fuel %we Hydro-electric Cl 22.9 Geothermal 8.1 W4X1 29 Biomass 1.5 Total 1030% Retail decincty prices rave nsen in Costa Rica at a CAGR of 11% over the past seven year. We expect retail electricey prides inCoale Rica tocontrite to rise, prima* due to increasing costs of corwentional sources of energy end overall demand for energy and the removal of government erb90ies Emulate to conventional energy notices Tex cumulative installed capacity 41renewable energy sources in Costa Rica ircreased from 1.743 MW in 2010 to 2,0434 MW In 2013 Renewable energy accounted for 117% of overall energy capacty growth frown 2010 to 2013, in part, displacing rowel fuel capacity, which has declined 7% over that time period The curnuletwe installed capacity of wind energy in Costa Roca grew from 50 SAW n 2010 to 127 MW in 2014, ore CAGR of 27% Tne folowirg chart reflects nal at prqected growth in Costa Rea's emulative solar and word energy generation capacity from 2010 to 2017 Costa Rica cumulative solar and wind energy generation capacity (in MIN), 2010.2020 Ao • Med:W.2 it.: • at. 203 trt Ts 7; 50 1e10 2011 2012 2011 2014 2015E 20161 20174 Smear 840,04.0 N•- 0,4444 rma•o 182 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-0058147 CONFIDENTIAL SONY GM_00204331 EFTA01366619