(Announcement)
September 24,2021
Shikoku ElectricPower Co.,Inc.
Equity Participation in Solar Photovoltaic Power Generation Project in California, USA
We, Shikoku Electric Power Co., Inc. ("Shikoku Electric"), are pleased to announce that we decided to
participate in a solar photovoltaic power generation project which is owned and operated by Sol Orchard
Imperial1,LLC("ProjectCompany")inCalifornia,USA,andacquired14.3%oftheProjectCompany’sinterest
from Santander Bank,N.A.Thisisthe first renewable IPP project for us in the United States.
Thisprojecthasbeengeneratingpowerwithacapacityof20MWsince2013inImperialCounty,California,
supplying electricity to a local public utility company under a long-term power purchase agreement until
2038. After that it is planned to sell the electricity to a wholesale market. We will support the Project
Companyto further improve itsprofitability.
We are further expandingour internationalbusinessincludingrenewable power projects.
[Annex] Project overviewof the solar photovoltaicpower generation project in California, USA
[Annex]
Project Overview of the Solar Photovoltaic Power Generation Project in California, USA
1. Project Overview
Project Name ElCentro Solar Photovoltaic Power Generation Project
Project Company SolOrchard Imperial1,LLC
Location ElCentro City,Imperial County, California
Capacity 20MW (Our net capacity: 2.86MW)
Investors
Shikoku ElectricPower Co.,Inc. (14.3%)
MitsubishiHC Capital Inc. (35.7%)
Excelsior Renewable Energy Investment Fund I LP* (50%)
Offtaker
Local public utility company under a long-term power purchase
agreement until2038,and wholesale electricity market thereafter
Commercial
Operation year2013* Aninvestmentfundtargetingrenewable powerprojectsinNorthAmerica, inwhichweparticipateasa2%
investor.
2. Location