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Philippine Onshore Solar Power Plant for 100MW s s Work Start Year 2018 Annual average solar radiation 3.5 Kwh/m².day Operating Year 2020 Solar Panel Capacity 240 W/module and referece value =146W Site and Contry for Project Philippine Flat Solar Panel Acquisition Area 915,893 m²- Consider Loss factor of 0.74 ADD Area = 0m² Power Sales Cost 0.219 USD/kWh =21.9US /kwh Cell Output 5.84064 W(Wh/h)/cell Total Electric Power Capacity 100 MW (=MWh/h) Cell Nos/Module 60 Cells/Module Daily Charge Time per day 5 hr/day Total Output of Solar Module 0.3504384 Kw(Kwh/h)/module Working day per year 365.25 days/year Solar Pannel Product Capacity 876,600 Mwh/Annual due to Module W/m² Final DC to AC Product Output Capacity Per Annual 127,838 MWh/Annual 70 of 100MW x 5hr/day for annu Solar Radiation Product Capacity 127,838 Mwh/Annual due to Radiation Total Electricity Power Sales Cost 27,996,413 USD/year Nos of Module 562,975 Nos Solar Panel Acquisition Area 951,824 m² Cell Size, H= Space Acquisiton Cost 20 USD/m² in Philippine Cell Size, W= CAPEX of Area Acquisition Cost 18,655,757 USD Module efficiency 14.75216365 CAPEX for Spur Transmission Line Length 35km 7,998,837 USD -63.3Kv --Single Circ 1 - Circuit Module Size, H= 1640 mm CAPEX for Bulk Transmission Line is 0km 0 USD 63.3Kv --Single Circuit Module Size, W= 992 mm CAPEX for Grid Connection(Point Of Inte 1 Sets 11,400,000 USD, Gas=114$/kw, Goal,Nuclear=227$/kw, Solar Cell Module Area 1.62688 m² Type of Solar Power CAPEX of Solar Power Plant CAPEX for Solar Power Plant Construction and Fabrication Period Interest FEE during Construction and Fabrication TOTAL CAPEX AND INTREST FEE DURING CONSTRUCTION Fixed and Various OPEX Fund Intrest 3 1,710 USD/kwh 209,054,594 USD - 이억구백오만사천오백구십사달러 Total power of the system 135,114 kwp 2 Total Require Land Acquisition 951,824 m²(1,000m x 0,952m) 1,000 m x 952 m = 951,824 m² 13,588,549 USD 222,643,143 USD - 이억이천이백육십사만삼천일백사십삼 Type of Solar Panel Efficiency Limits() Solar Panel Slope Angle based on True South 1,090,108 USD/Year Monocrystalline 15-21 Slope Angle derate factor 6.5 Polycrystalline 13-16 0deg 0.89 Return rate on investment of Net Profit, r 3 Thin-film 7-13 15deg 0.97 Operating Periods 15 30deg 1 Select =30deg Project Design Life 30 45deg 0.98 1.51 1.1 GOOD For 15 Operating 60deg 0.92 IRR(Internal Rate of Return) 3.03 > 0 GOOD For 15 Operating 90deg 0.68 NPV(Net Present ) 82,736,506 USD with Asset value of Project for 15 Electric power Sale from 2020 to 2022 0 from 1 to 3 200MW Pillippines Solar Power Price Inflation to from 2023 to 2026 0 from 4 to 7 3.00 0.30 0.20 be considered in from 2027 to 2031 0 from 8 to 12 1.00 0.10 yeras(increased from 2032 to 2036 0 from 13 to 17 Previous Inflation) from 2037 to 2034 0 from 18 to 15 2020 2022 2024 2026 2028 2030 2032 2034-0.10 Income tax rate for government Inflation of Space Acquisition First Project residual value Second Project residual value Final residual value on Design Life Net Payback Turn Over Periods End of Year Actual Payback turn Over Initial (min 0, max 7.692) Limit of Initial 1 of Return of Equity 2 of Return of FUND 20 1 109,143,021 64,080,117 44,185,026 12.006 13 13 해찾기 4.787 4.787 0 Good 7.692 7.692 3Return of Equity (USD) USD after 10 USD after 20 USD after 30 4Return of FUND(USD) 20 of Equity 80 of FUND 5Remain Cost(USD) 6Fund Interest 6.5(USD) 10( 현재자산가치 )Asset value(usd)=residual 11( 순현재가치 )Net Present 12Benefit Cost Ratio (B/C) 2020 1 4.79 4.79 2,131,469 8,525,876 222,643,143 14,471,804 1,090,108 27,996,413 1,421,723 195,193,478-204,437,682-12.51-0.94 2021 2 5.27 5.27 2,347,104 9,388,416 211,985,797 13,779,077 1,090,108 27,996,413 1,113,365 182,392,940-192,424,410-5.48-0.73 2022 3 5.76 5.76 2,562,739 10,250,956 200,250,277 13,016,268 1,090,108 27,996,413 861,072 170,588,121-180,083,293-3.11-0.53 2023 4 6.24 6.24 2,778,374 11,113,496 187,436,581 12,183,378 1,090,108 27,996,413 664,845 159,546,800-167,383,167-1.91-0.39 2024 5 6.72 6.72 2,994,009 11,976,036 173,544,711 11,280,406 1,090,108 27,996,413 524,682 149,459,395-154,296,724-1.18-0.29-3.00-5.00-7.00-9.00-11.00-13.00 7OPEX(USD) 8Yearly Revenue(USD) W/ Inflation 9( 순이익 )Net Profit(USD) -0.20-0.30-0.40-0.50-0.60-0.70-0.80-0.90 13( 내부수익률 )Internal Rate of Return (IRR)

2025 6 7.21 7.21 3,209,644 12,838,576 158,574,665 10,307,353 1,090,108 27,996,413 440,584 140,135,527-140,800,258-0.67-0.21 2026 7 7.69 7.69 3,425,279 13,701,116 142,526,445 9,264,219 1,090,108 27,996,413 412,552 131,384,816-126,873,433-0.29-0.15 2027 8 8.18 8.18 3,640,914 14,563,656 125,400,049 8,151,003 1,090,108 27,996,413 440,584 123,397,681-112,499,056 0.01-0.11 2028 9 8.66 8.66 3,856,549 15,426,197 107,195,478 6,967,706 1,090,108 27,996,413 524,682 115,983,743-97,662,867 0.27-0.08 2029 10 9.15 9.15 4,072,184 16,288,737 87,912,733 5,714,328 1,090,108 27,996,413 664,845 109,143,021-82,353,332 0.49-0.05 2030 11 9.63 9.63 4,287,819 17,151,277 67,551,812 4,390,868 1,090,108 27,996,413 861,072 102,875,536-66,561,458 0.70-0.03 2031 12 10.11 10.11 4,503,454 18,013,817 46,112,716 2,997,327 1,090,108 27,996,413 1,113,365 96,990,910-50,280,608 0.90-0.01 2032 13 10.60 10.60 4,719,089 18,876,357 23,595,446 1,533,704 1,090,108 27,996,413 1,421,723 91,679,562-33,506,330 1.10 0.01 2033 14 0 0 0 0 1,090,108 27,996,413 21,525,043 86,751,113-16,236,198 1.31 0.02 2034 15 0 0 0 0 1,090,108 27,996,413 21,525,043 82,205,585 530,921 1.51 0.03 2035 16 0 0 0 0 0 0 0 0 0 2036 17 0 0 0 0 0 0 0 0 0 2037 18 0 0 0 0 0 0 0 0 0 2038 19 0 0 0 0 0 0 0 0 0 2039 20 0 0 0 0 0 0 0 0 0 2040 21 0 0 0 0 0 0 0 0 0 2041 22 0 0 0 0 0 0 0 0 0 2042 23 0 0 0 0 0 0 0 0 0 2043 24 0 0 0 0 0 0 0 0 0 2044 25 0 0 0 0 0 0 0 0 0 2045 26 0 0 0 0 0 0 0 0 0 2046 27 0 0 0 0 0 0 0 0 0 2047 28 0 0 0 0 0 0 0 0 0 2048 29 0 0 0 0 0 0 0 0 0 2049 30 0 0 0 0 0 0 0 0 0 2050 Summation 100 100 44,528,629 178,114,514 1,754,729,854 114,057,440 16,351,627 419,946,188 53,515,182 82,205,585 82,736,506 1.51 0.03 CAPEX of Power types and Environmental Select, Solar Panel = Nos of Cell Module and Solar Panel Electric Capacity = 197,288kWh Power Control Panel Capacity = Solar Panel Capacity Control panel Efficiency = 197,288kWh 85.0 = 232,104kWh AC 232,104kWh AC Invert Capacity = x design Factor = Invert Efficiency 85.0 x 1.20 = 327,676kWh --> Overall DC to AC derate factor = 0.602 Component Derate Factors Acceptable Range PV module nameplate DC rating 0.80-1.05 0.95 Inverter and Transformer 0.88-0.96 0.94 Mismatch 0.97-0.995 0.99 Diodes and connections 0.99-0.997 0.995 DC wiring 0.97-0.99 0.98 AC wiring 0.98-0.993 0.99 Soiling 0.30-0.995 0.95 System availability - 0.995 0.99 Shadings (depends of site) 0.60 ~ 1.00 0.97 Sun-tracking(irradiation) 0.93-1.00 0.97 due to dust, snow and etc 0.98 ~ 1.00 0.98 Age 0.70-1.00 1 Overall DC to AC derate factor 0.740115243

Bangladesh Onshore Solar Power Plant for 200MW s s Work Start Year 2018 Annual average solar radiation 6 Kwh/m².day Operating Year 2020 Solar Panel Capacity 250 W/module and referece value =250W Site and Contry for Project Bangladesh Flat Solar Panel Acquisition Area 1,758,515 m²- Consider Loss factor of 0.74 ADD Area = 0m² Power Sales Cost 0.125 USD/kWh =12.5US /kwh Cell Output 6.084 W(Wh/h)/cell Total Electric Power Capacity 200 MW (=MWh/h) Cell Nos/Module 60 Cells/Module Daily Charge Time per day 12 hr/day Total Output of Solar Module 0.36504 Kw(Kwh/h)/module Working day per year 365.25 days/year Solar Pannel Product Capacity 1,753,200 Mwh/Annual due to Module W/m² Final DC to AC Product Output Capacity Per Annual 438,300 MWh/Annual 50 of 200MW x 12hr/day for annu Solar Radiation Product Capacity 438,300 Mwh/Annual due to Radiation Total Electricity Power Sales Cost 54,787,500 USD/year Nos of Module 1,080,913 Nos Solar Panel Acquisition Area 1,827,503 m² Cell Size, H= Space Acquisiton Cost 2 USD/m² in Bangladesh Cell Size, W= CAPEX of Area Acquisition Cost 3,655,005 USD Module efficiency 15.36683714 CAPEX for Spur Transmission Line Length is 35km 12,443,239 USD -120.8Kv --Single Cir 1 - Circuit Module Size, H= 1640 mm CAPEX for Bulk Transmission Line is 0km 0 USD 120.8Kv --Single Circuit Module Size, W= 992 mm CAPEX for Grid Connection(Point Of Intercon 1 Sets 22,800,000 USD, Gas=114$/kw, Goal,Nuclear=227$/kw, Solar Cell Module Area 1.62688 m² Type of Solar Power CAPEX of Solar Power Plant CAPEX for Solar Power Plant Construction and Fabrication Period Interest FEE during Construction and Fabrication TOTAL CAPEX AND INTREST FEE DURING CONSTRUCTION Fixed and Various OPEX 5 1,870 412,952,466 USD/kwh USD - 사억일천이백구십오만이천사백육십육 Total power of the system 270,228 kwp 2 Total Require Land Acquisition 1,827,503 m²(1,500m x 1,218m) 1,500 m x 1,218 m = 1,827,503 m² 26,841,910 USD 439,794,376 USD - 사억삼천구백칠십구만사천삼백칠십육 Type of Solar Panel Efficiency Limits() Solar Panel Slope Angle based on True South 2,180,217 USD/Year Monocrystalline 15-21 Slope Angle derate factor Fund Intrest 6.5 Polycrystalline 13-16 0deg 0.89 Return rate on investment of Net Profit, r 3 Thin-film 7-13 15deg 0.97 Operating Periods 15 30deg 1 Select =30deg Project Design Life 30 45deg 0.98 1.48 1.1 GOOD For 15 Operating 60deg 0.92 IRR(Internal Rate of Return) 2.85 > 0 GOOD For 15 Operating 90deg 0.68 NPV(Net Present ) 129,171,064 USD with Asset value of Project for 15 Electric power Sale from 2020 to 2022 0 from 1 to 3 200MW Bangladesh Solar Power Price Inflation to be from 2023 to 2026 0 from 4 to 7 4.00 0.30 considered in from 2027 to 2029 0 from 8 to 10 2.00 0.20 0.10 yeras(increased from 2030 to 2034 0 from 11 to 15 Previous Inflation) from 2035 to 2034 0 from 16 to 15-2.002020 2022 2024 2026 2028 2030 2032 2034-0.10 Income tax rate for government Inflation of Space Acquisition First Project residual value Second Project residual value Final residual value on Design Life Net Payback Turn Over Periods End of Year Actual Payback turn Over Initial (min 0, max 7.692) Limit of Initial 1 of Return of Equity 2 of Return of FUND 20 1 194,360,719 93,277,350 45,856,141 12.008 13 13 해찾기 4.787 4.787 0 Good 7.692 7.692 3Return of Equity (USD) USD after 10 USD after 20 USD after 30 4Return of FUND(USD) 20 of Equity 80 of FUND 5Remain Cost(USD) 6Fund Interest 6.5(USD) 2020 1 4.79 4.79 4,210,362 16,841,446 439,794,376 28,586,634 2,180,217 54,787,500 2,375,073 382,790,946-404,343,066-12.51-0.95 2021 2 5.27 5.27 4,636,312 18,545,250 418,742,568 27,218,267 2,180,217 54,787,500 1,765,963 354,905,692-381,108,519-5.49-0.73 2022 3 5.76 5.76 5,062,263 20,249,054 395,561,006 25,711,465 2,180,217 54,787,500 1,267,600 329,157,237-357,211,934-3.13-0.54 2023 4 6.24 6.24 5,488,214 21,952,858 370,249,689 24,066,230 2,180,217 54,787,500 879,985 305,046,344-332,592,170-1.93-0.39 2024 5 6.72 6.72 5,914,165 23,656,662 342,808,617 22,282,560 2,180,217 54,787,500 603,117 282,982,315-307,195,692-1.20-0.29 2025 6 7.21 7.21 6,340,116 25,360,465 313,237,790 20,360,456 2,180,217 54,787,500 436,996 262,555,857-280,976,071-0.69-0.21 2026 7 7.69 7.69 6,766,067 27,064,269 281,537,208 18,299,919 2,180,217 54,787,500 381,622 243,357,675-253,893,521-0.31-0.16-4.00-6.00-8.00-1 -12.00-14.00 7OPEX(USD) 8Yearly Revenue(USD) W/ Inflation 9( 순이익 )Net Profit(USD) 10( 현재자산가치 )Asset value(usd)=residual 11( 순현재가치 )Net Present -0.20-0.30-0.40-0.50-0.60-0.70-0.80-0.90 12Benefit Cost Ratio (B/C) 13( 내부수익률 )Internal Rate of Return (IRR)

2027 8 8.18 8.18 7,192,018 28,768,073 247,706,871 16,100,947 2,180,217 54,787,500 436,996 225,797,071-225,914,453-0.01-0.11 2028 9 8.66 8.66 7,617,969 30,471,877 211,746,780 13,763,541 2,180,217 54,787,500 603,117 209,464,751-197,011,061 0.25-0.08 2029 10 9.15 9.15 8,043,920 32,175,681 173,656,934 11,287,701 2,180,217 54,787,500 879,985 194,360,719-167,160,916 0.47-0.05 2030 11 9.63 9.63 8,469,871 33,879,485 133,437,332 8,673,427 2,180,217 54,787,500 1,267,600 180,484,979-136,346,593 0.68-0.03 2031 12 10.11 10.11 8,895,822 35,583,289 91,087,977 5,920,718 2,180,217 54,787,500 1,765,963 167,428,238-104,555,314 0.88-0.01 2032 13 10.60 10.60 9,321,773 37,287,093 46,608,866 3,029,576 2,180,217 54,787,500 2,375,073 155,599,797-71,778,609 1.07 0.01 2033 14 0 0 0 0 2,180,217 54,787,500 42,085,826 144,590,363-38,011,996 1.28 0.02 2034 15 0 0 0 0 2,180,217 54,787,500 42,085,826 134,399,940-5,228,876 1.48 0.03 2035 16 0 0 0 0 0 0 0 0 0 2036 17 0 0 0 0 0 0 0 0 0 2037 18 0 0 0 0 0 0 0 0 0 2038 19 0 0 0 0 0 0 0 0 0 2039 20 0 0 0 0 0 0 0 0 0 2040 21 0 0 0 0 0 0 0 0 0 2041 22 0 0 0 0 0 0 0 0 0 2042 23 0 0 0 0 0 0 0 0 0 2043 24 0 0 0 0 0 0 0 0 0 2044 25 0 0 0 0 0 0 0 0 0 2045 26 0 0 0 0 0 0 0 0 0 2046 27 0 0 0 0 0 0 0 0 0 2047 28 0 0 0 0 0 0 0 0 0 2048 29 0 0 0 0 0 0 0 0 0 2049 30 0 0 0 0 0 0 0 0 0 Summation 100 100 87,958,875 351,835,501 3,466,176,012 225,301,441 32,703,253 821,812,500 99,210,744 134,399,940 129,171,064 1.48 0.03 CAPEX of Power types and Environmental Emissions are referred Select, Solar Panel = Nos of Cell Module and Solar Panel Electric Capacity = 394,576kWh Power Control Panel Capacity = Solar Panel Capacity Control panel Efficiency 394,576kWh = = 464,208kWh 85.0 AC 464,208kWh AC Invert Capacity = x design Factor = x 1.20 = 655,352kWh --> Overall DC to AC derate factor = 0.602 Invert Efficiency 85.0 Component Derate FaAcceptable Range PV module nameplate DC rating 0.80-1.05 0.95 Inverter and Transformer 0.88-0.96 0.94 Mismatch 0.97-0.995 0.99 Diodes and connections 0.99-0.997 0.995 DC wiring 0.97-0.99 0.98 AC wiring 0.98-0.993 0.99 Soiling 0.30-0.995 0.95 System availability - 0.995 0.99 Shadings (depends of site) 0.60 ~ 1.00 0.97 Sun-tracking(irradiation) 0.93-1.00 0.97 due to dust, snow and etc 0.98 ~ 1.00 0.98 Age 0.70-1.00 1 Overall DC to AC derate factor 0.740115243

Nicaragua Onshore Solar Power Plant for 100MW s s Work Start Year 2018 Annual average solar radiation 4.273 Kwh/m².day Operating Year 2020 Solar Panel Capacity 200 W/module and referece value =178W Site and Contry for Project Nicaragua Flat Solar Panel Acquisition Area 1,064,074 m²- Consider Loss factor of 0.74 ADD Area = 200,000m² Power Sales Cost 0.15 USD/kWh =15US /kwh Cell Output 3.552858333 W(Wh/h)/cell Total Electric Power Capacity 100 MW (=MWh/h) Cell Nos/Module 72 Cells/Module Daily Charge Time per day 12 hr/day Total Output of Solar Module 0.2558058 Kw(Kwh/h)/module Working day per year 365.25 days/year Solar Pannel Product Capacity 1,079,499 Mwh/Annual due to Module W/m² Final DC to AC Product Output Capacity Per Annual 192,196 MWh/Annual 43.9 of 100MW x 12hr/day for an Solar Radiation Product Capacity 192,196 Mwh/Annual due to Radiation Total Electricity Power Sales Cost 28,829,377 USD/year Nos of Module 831,939 Nos Solar Panel Acquisition Area 1,105,818 m² Cell Size, H= 132 mm Space Acquisiton Cost 2 USD/m² in Nicaragua Cell Size, W= 135 mm CAPEX of Area Acquisition Cost 2,211,637 USD Module efficiency 15.63686203 CAPEX for Spur Transmission Line Length 35km 7,998,837 USD -63.3Kv --Single Circ 1 - Circuit Module Size, H= 1581 mm CAPEX for Bulk Transmission Line is 0km 0 USD 63.3Kv --Single Circuit Module Size, W= 809 mm CAPEX for Grid Connection(Point Of Inter 1 Sets 11,400,000 USD, Gas=114$/kw, Goal,Nuclear=227$/kw, Solar Cell Module Area 1.279029 m² Type of Solar Power CAPEX of Solar Power Plant CAPEX for Solar Power Plant Construction and Fabrication Period Interest FEE during Construction and Fabrication TOTAL CAPEX AND INTREST FEE DURING CONSTRUCTION Fixed and Various OPEX 3 1,710 192,610,474 USD/kwh USD - 일억구천이백육십일만사백칠십사달러 Total power of the system 166,388 kwp 2 Total Require Land Acquisition 1,105,818 m²(1,000m x 1,106m) 1,000 m x 1,106 m = 1,105,818 m² 12,519,681 USD 205,130,155 USD - 이억오백일십삼만일백오십오달러 Type of Solar Panel Efficiency Limits() Solar Panel Slope Angle based on True South 1,090,108 USD/Year Monocrystalline 15-21 Slope Angle derate factor Fund Intrest 6.5 Polycrystalline 13-16 0deg 0.89 Return rate on investment of Net Profit, r 3 Thin-film 7-13 15deg 0.97 Operating Periods 15 30deg 1 Select =30deg Project Design Life 30 45deg 0.98 2.01 1.1 GOOD For 15 Operating 60deg 0.92 IRR(Internal Rate of Return) 5.37 > 0 GOOD For 15 Operating 90deg 0.68 NPV(Net Present ) 103,971,752 USD with Asset value of Project for 15 Electric power Sale from 2020 to 2022 0 from 1 to 3 100MW Nicaragua Solar Power Price Inflation to 4.00 0.30 from 2023 to 2026 0 from 4 to 7 be considered in from 2027 to 2029 0 from 8 to 10 2.00 0.20 0.10 yeras(increased from 2030 to 2034 0 from 11 to 15 Previous Inflation) from 2035 to 2034 0 from 16 to 15-2.002020 2022 2024 2026 2028 2030 2032 2034-0.10 Income tax rate for government Inflation of Space Acquisition First Project residual value Second Project residual value Final residual value on Design Life Net Payback Turn Over Periods End of Year Actual Payback turn Over Initial (min 0, max 8.333) Limit of Initial 1 of Return of Equity 2 of Return of FUND 20 1 90,978,482 44,015,165 22,020,836 10.012 12 12 해찾기 5.448 5.448 0 Good 8.333 8.333 3Return of Equity (USD) USD after 10 USD after 20 USD after 30 4Return of FUND(USD) 20 of Equity 80 of FUND 5Remain Cost(USD) 6Fund Interest 6.5(USD) 12Benefit Cost Ratio (B/C) 2020 1 5.45 5.45 2,235,074 8,940,297 205,130,155 13,333,460 1,090,108 28,829,377 2,584,349 178,584,916-185,576,634-12.22-0.93 2021 2 5.97 5.97 2,450,304 9,801,215 193,954,783 12,607,061 1,090,108 28,829,377 2,304,551 165,618,293-171,728,521-5.24-0.69 2022 3 6.50 6.50 2,665,533 10,662,132 181,703,264 11,810,712 1,090,108 28,829,377 2,080,712 153,645,727-157,576,205-2.89-0.49 2023 4 7.02 7.02 2,880,762 11,523,050 168,375,599 10,944,414 1,090,108 28,829,377 1,912,833 142,434,982-143,088,817-1.69-0.34 2024 5 7.55 7.55 3,095,992 12,383,967 153,971,787 10,008,166 1,090,108 28,829,377 1,800,914 132,176,459-128,239,298-0.95-0.24 2025 6 8.07 8.07 3,311,221 13,244,885 138,491,827 9,001,969 1,090,108 28,829,377 1,744,955 122,679,762-113,004,159-0.43-0.17-4.00-6.00-8.00-1 -12.00-14.00 7OPEX(USD) 8Yearly Revenue(USD) W/ Inflation 9( 순이익 )Net Profit(USD) 10( 현재자산가치 )Asset value(usd)=residual 11( 순현재가치 )Net Present -0.20-0.30-0.40-0.50-0.60-0.70-0.80-0.90 13( 내부수익률 )Internal Rate of Return (IRR)

2026 7 8.60 8.60 3,526,451 14,105,802 121,935,721 7,925,822 1,090,108 28,829,377 1,744,955 113,754,494-97,363,242-0.04-0.12 2027 8 9.12 9.12 3,741,680 14,966,720 104,303,468 6,779,725 1,090,108 28,829,377 1,800,914 105,591,055-81,299,497 0.28-0.07 2028 9 9.64 9.64 3,956,909 15,827,637 85,595,069 5,563,679 1,090,108 28,829,377 1,912,833 97,999,051-64,798,777 0.56-0.04 2029 10 10.17 10.17 4,172,139 16,688,555 65,810,522 4,277,684 1,090,108 28,829,377 2,080,712 90,978,482-47,849,629 0.81-0.02 2030 11 10.69 10.69 4,387,368 17,549,472 44,949,828 2,921,739 1,090,108 28,829,377 2,304,551 84,529,352-30,443,114 1.05 2031 12 11.22 11.22 4,602,597 18,410,390 23,012,987 1,495,844 1,090,108 28,829,377 2,584,349 78,461,264-12,572,619 1.28 0.02 2032 13 0 0 0 0 1,090,108 28,829,377 22,191,414 72,964,619 5,766,305 1.53 0.03 2033 14 0 0 0 0 1,090,108 28,829,377 22,191,414 67,849,020 23,571,086 1.77 0.04 2034 15 0 0 0 0 1,090,108 28,829,377 22,191,414 63,114,472 40,857,281 2.01 0.05 2035 16 0 0 0 0 0 0 0 0 0 2036 17 0 0 0 0 0 0 0 0 0 2037 18 0 0 0 0 0 0 0 0 0 2038 19 0 0 0 0 0 0 0 0 0 2039 20 0 0 0 0 0 0 0 0 0 2040 21 0 0 0 0 0 0 0 0 0 2041 22 0 0 0 0 0 0 0 0 0 2042 23 0 0 0 0 0 0 0 0 0 2043 24 0 0 0 0 0 0 0 0 0 2044 25 0 0 0 0 0 0 0 0 0 2045 26 0 0 0 0 0 0 0 0 0 2046 27 0 0 0 0 0 0 0 0 0 2047 28 0 0 0 0 0 0 0 0 0 2048 29 0 0 0 0 0 0 0 0 0 2049 30 0 0 0 0 0 0 0 0 0 Summation 100 100 41,026,031 164,104,124 1,487,235,011 96,670,276 16,351,627 432,440,648 91,430,873 63,114,472 103,971,752 2.01 0.05 CAPEX of Power types and Environmental Select, Solar Panel = Nos of Cell Module and Solar Panel Electric Capacity = 212,815kWh Power Control Panel Capacity = Solar Panel Capacity Control panel Efficiency 212,815kWh = = 250,370kWh 85.0 AC 250,370kWh AC Invert Capacity = x design Factor = x 1.20 = 353,464kWh --> Overall DC to AC derate factor = 0.602 Invert Efficiency 85.0 Component Derate FaAcceptable Range PV module nameplate DC rating 0.80-1.05 0.95 Inverter and Transformer 0.88-0.96 0.94 Mismatch 0.97-0.995 0.99 Diodes and connections 0.99-0.997 0.995 DC wiring 0.97-0.99 0.98 AC wiring 0.98-0.993 0.99 Soiling 0.30-0.995 0.95 System availability - 0.995 0.99 Shadings (depends of site) 0.60 ~ 1.00 0.97 Sun-tracking(irradiation) 0.93-1.00 0.97 due to dust, snow and etc 0.98 ~ 1.00 0.98 Age 0.70-1.00 1 Overall DC to AC derate factor 0.740115243

Dominica Onshore Solar Power Plant for 100MW s s Work Start Year 2018 Annual average solar radiation 6 Kwh/m².day Operating Year 2020 Solar Panel Capacity 250 W/module and referece value =250W Site and Contry for Project Dominica Flat Solar Panel Acquisition Area 879,258 m²- Consider Loss factor of 0.74 ADD Area = 0m² Power Sales Cost 0.125 USD/kWh =12.5US /kwh Cell Output 6.084 W(Wh/h)/cell Total Electric Power Capacity 100 MW (=MWh/h) Cell Nos/Module 60 Cells/Module Daily Charge Time per day 12 hr/day Total Output of Solar Module 0.36504 Kw(Kwh/h)/module Working day per year 365.25 days/year Solar Pannel Product Capacity 876,600 Mwh/Annual due to Module W/m² Final DC to AC Product Output Capacity Per Annual 219,150 MWh/Annual 50 of 100MW x 12hr/day for ann Solar Radiation Product Capacity 219,150 Mwh/Annual due to Radiation Total Electricity Power Sales Cost 27,393,750 USD/year Nos of Module 540,456 Nos Solar Panel Acquisition Area 913,751 m² Cell Size, H= Space Acquisiton Cost 3 USD/m² in Dominica Cell Size, W= CAPEX of Area Acquisition Cost 2,741,254 USD Module efficiency 15.36683714 CAPEX for Spur Transmission Line Length is 35km 7,998,837 USD -63.3Kv --Single Circ 1 - Circuit Module Size, H= 1640 mm CAPEX for Bulk Transmission Line is 1km 620,000 USD 63.3Kv --Single Circuit Module Size, W= 992 mm CAPEX for Grid Connection(Point Of Interco 1 Sets 11,400,000 USD, Gas=114$/kw, Goal,Nuclear=227$/kw, Solar Cell Module Area 1.62688 m² Type of Solar Power CAPEX of Solar Power Plant CAPEX for Solar Power Plant Construction and Fabrication Period Interest FEE during Construction and Fabrication TOTAL CAPEX AND INTREST FEE DURING CONSTRUCTION Fixed and Various OPEX 2 1,847 207,447,155 USD/kwh USD - 이억칠백사십사만칠천일백오십오달러 Total power of the system 135,114 kwp 2 Total Require Land Acquisition 913,751 m²(1,000m x 0,914m) 1,000 m x 914 m = 913,751 m² 13,484,065 USD 220,931,220 USD - 이억이천구십삼만일천이백이십달러 Type of Solar Panel Efficiency Limits() Solar Panel Slope Angle based on True South 1,225,213 USD/Year Monocrystalline 15-21 Slope Angle derate factor Fund Intrest 6.5 Polycrystalline 13-16 0deg 0.89 Return rate on investment of Net Profit, r 3 Thin-film 7-13 15deg 0.97 Operating Periods 15 30deg 1 Select =30deg Project Design Life 30 45deg 0.98 1.35 1.1 GOOD For 15 Operating 100MW Dominica Solar Power 60deg 0.92 IRR(Internal Rate of Return) 2.30 > 0 GOOD For 15 Operating 4.00 90deg 0.30 0.68 NPV(Net Present ) 56,016,186 USD with Asset value of Project for 15 2.00 0.20 0.10 Electric power Sale from 2020 to 2022 0 from 1 to 3 Price Inflation to be from 2023 to 2026 0 from 4 to 7-2.002020 2022 2024 2026 2028 2030 2032 2034-0.10 considered in from 2027 to 2029 0 from 8 to 10-0.20 yeras(increased from 2030 to 2034 0 from 11 to 15 Previous Inflation) from 2035 to 2034 0 from 16 to 15 Income tax rate for government Inflation of Space Acquisition First Project residual value Second Project residual value Final residual value on Design Life Net Payback Turn Over Periods End of Year Actual Payback turn Over Initial (min 0, max 7.143) Limit of Initial 1 of Return of Equity 2 of Return of FUND 18 1 98,216,294 47,766,032 24,165,387 13.001 14 14 해찾기 4.220 4.220 0 Good 7.143 7.143 3Return of Equity (USD) USD after 10 USD after 20 USD after 30 4Return of FUND(USD) 20 of Equity 80 of FUND 5Remain Cost(USD) 6Fund Interest 6.5(USD) 12Benefit Cost Ratio (B/C) 2020 1 4.22 4.22 1,864,656 7,458,626 220,931,220 14,360,529 1,225,213 27,393,750 2,037,475 192,371,315-203,366,151-12.42-0.95 2021 2 4.67 4.67 2,063,349 8,253,397 211,607,938 13,754,516 1,225,213 27,393,750 1,719,765 178,434,017-192,005,563-5.44-0.73 2022 3 5.12 5.12 2,262,042 9,048,169 201,291,192 13,083,927 1,225,213 27,393,750 1,455,007 165,565,508-180,380,057-3.09-0.54 2023 4 5.57 5.57 2,460,735 9,842,941 189,980,980 12,348,764 1,225,213 27,393,750 1,243,200 153,516,103-168,458,999-1.91-0.40 2024 5 6.02 6.02 2,659,428 10,637,712 177,677,305 11,549,025 1,225,213 27,393,750 1,084,345 142,490,510-156,215,388-1.18-0.30 2025 6 6.47 6.47 2,858,121 11,432,484 164,380,164 10,684,711 1,225,213 27,393,750 978,442 132,284,026-143,625,620-0.68-0.22-4.00-6.00-8.00-1 -12.00-14.00 7OPEX(USD) 8Yearly Revenue(USD) W/ Inflation 9( 순이익 )Net Profit(USD) 10( 현재자산가치 )Asset value(usd)=residual 11( 순현재가치 )Net Present -0.30-0.40-0.50-0.60-0.70-0.80-0.90 13( 내부수익률 )Internal Rate of Return (IRR)

2026 7 6.92 6.92 3,056,814 12,227,255 150,089,560 9,755,821 1,225,213 27,393,750 925,490 122,691,948-130,669,271-0.31-0.16 2027 8 7.37 7.37 3,255,507 13,022,027 134,805,490 8,762,357 1,225,213 27,393,750 925,490 113,918,984-117,328,883-0.02-0.12 2028 9 7.82 7.82 3,454,200 13,816,799 118,527,957 7,704,317 1,225,213 27,393,750 978,442 105,760,432-103,589,770 0.23-0.09 2029 10 8.27 8.27 3,652,893 14,611,570 101,256,959 6,581,702 1,225,213 27,393,750 1,084,345 98,216,294-89,439,824 0.44-0.06 2030 11 8.72 8.72 3,851,585 15,406,342 82,992,496 5,394,512 1,225,213 27,393,750 1,243,200 91,286,574-74,869,341 0.63-0.03 2031 12 9.17 9.17 4,050,278 16,201,113 63,734,569 4,142,747 1,225,213 27,393,750 1,455,007 84,766,568-59,870,849 0.81-0.02 2032 13 9.62 9.62 4,248,971 16,995,885 43,483,177 2,826,406 1,225,213 27,393,750 1,719,765 78,860,986-44,438,951 0.99 2033 14 10.07 10.07 4,447,664 17,790,657 22,238,321 1,445,491 1,225,213 27,393,750 2,037,475 73,365,125-28,570,169 1.17 0.01 2034 15 0 0 0 0 1,225,213 27,393,750 21,458,200 68,278,988-12,262,802 1.35 0.02 2035 16 0 0 0 0 0 0 0 0 0 2036 17 0 0 0 0 0 0 0 0 0 2037 18 0 0 0 0 0 0 0 0 0 2038 19 0 0 0 0 0 0 0 0 0 2039 20 0 0 0 0 0 0 0 0 0 2040 21 0 0 0 0 0 0 0 0 0 2041 22 0 0 0 0 0 0 0 0 0 2042 23 0 0 0 0 0 0 0 0 0 2043 24 0 0 0 0 0 0 0 0 0 2044 25 0 0 0 0 0 0 0 0 0 2045 26 0 0 0 0 0 0 0 0 0 2046 27 0 0 0 0 0 0 0 0 0 2047 28 0 0 0 0 0 0 0 0 0 2048 29 0 0 0 0 0 0 0 0 0 2049 30 0 0 0 0 0 0 0 0 0 Summation 100 100 44,186,244 176,744,976 1,882,997,327 122,394,826 18,378,195 410,906,250 40,345,647 68,278,988 56,016,186 1.35 0.02 CAPEX of Power types and Environmental Emissions are Select, Solar Panel = Nos of Cell Module and Solar Panel Electric Capacity = 197,288kWh Power Control Panel Capacity = Solar Panel Capacity Control panel Efficiency 197,288kWh = = 232,104kWh 85.0 AC 232,104kWh AC Invert Capacity = x design Factor = x 1.20 = 327,676kWh --> Overall DC to AC derate factor = 0.602 Invert Efficiency 85.0 Component Derate FaAcceptable Range PV module nameplate DC rating 0.80-1.05 0.95 Inverter and Transformer 0.88-0.96 0.94 Mismatch 0.97-0.995 0.99 Diodes and connections 0.99-0.997 0.995 DC wiring 0.97-0.99 0.98 AC wiring 0.98-0.993 0.99 Soiling 0.30-0.995 0.95 System availability - 0.995 0.99 Shadings (depends of site) 0.60 ~ 1.00 0.97 Sun-tracking(irradiation) 0.93-1.00 0.97 due to dust, snow and etc 0.98 ~ 1.00 0.98 Age 0.70-1.00 1 Overall DC to AC derate factor 0.740115243