Renewable Energy Business Opportunities in the U.S. for International Firms

Value Proposition

• Assist and partner with companies interested in entering the U.S. Renewable Energy Market – Acquire and restructure existing operating and late stage development (i.e. shovel-ready) renewable energy projects that are current distressed; – Bid on new Utility request for proposals (“RFP”) for renewable energy projects; and – Access experienced Asset Management and Consulting Services, as required by the investor

The Team

• Proven and accomplished energy professionals • Focused on transaction execution • Commercial, engineering, financing, tax, risk and market expertise • Deep and long-term industry relationships • Integrated knowledge of repatriation and tax treatment in Spain and the US

Partnerships

• Compensation Structure in alignment with equity positions – Employee contracts – fixed contracts for with termination provisions – Development fee – Percent of the Project Value (i.e. turnkey EPC price) – Residual / Corporate value – Percent ownership of NewCo

Relationships

• Utilities/Industrials • EPC • Vendors • Financial (debt financing, dev loan, credit facilities) – Morgan Stanley, Credit Suisse, RBS, West LB, HSH • Consultants – RW Beck, SL, BV, Van Scoyoc

Implementation Strategy

• Market Overview • Overview of Capital Requirements • Financing Plan – Develop Real Project with Real Returns • Corporate Operational Expenses • Exit Strategies

Market Overview

• $60 billion of renewable energy projects; under development, under construction or placed on hold • Credit and Tax Equity markets are on hold • Existing renewable energy developers are liquidating their projects and portfolios to raise cash • Developers have been forced to defer their development fees • EPC companies are lowering their bids to win construction projects • Equipment costs have fallen both from the vendor and on the secondary markets • Equity and distressed investors are testing the market

Capital Requirements

• $200 Million commitment of financial resources over 36 months • $30 -$50 million in available cash to support initial investment activities, subject to senior management approval • Additional investment capital provided upon proven success • The ability to provide parent guarantees, Letters of Credit or a credit facility to support investment activities

Financing Plan

• Utilize Financial Leverage by entering into power sales agreement with creditworthy counterparties • Utilize realistic project projections; i.e., forward commodity prices, operational and CapEx costs, and construction costs; for project structuring • Utilize federal cash incentives to support the project’s capital structure by accessing the federal grant window • Implement professional asset and construction management oversight

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Repatriation taxes - Spain

Spain - U.S. Tax Treaty: – Distribution of Dividends from a U.S. Co. is subject to U.S. Withholding tax of 10%, but future repatriation of accumulated reserves upon liquidity is non-taxable in the U.S.

– Capital gains obtained by the Spanish Co. in the sale of its shares from its’ U.S. subsidiary is non-taxable in the U.S. (except if it is considered a real estate holding company) • Spanish Corporate Tax: – Dividends from the U.S. Co. and its’ capital gains obtained from the sell of its shares are exempted in Spain if the following legal conditions are met: among others, own more then 5%of the U.S. Co. for more than one year, etc.

Disclaimer: These are general guidelines, but should not be used as a fiscal advice without checking with your Tax advisor on a case by case scenario.

Experience

• 18 years experience in government, media and public relations.

– Energy, Infrastructure, Trade, Federal and State and access to leading advocacy company in the US.

• 16 years experienced Renewable Energy Financial Executive – Debt Equity, Structured Finance, Mergers, Acquisitions, Divestitures, Tax and Private Equity, Venture Capital, Project Financing and Credit Arrangements, Investment Appraisal and Economic Evaluations. • 17 years experience in energy the energy industry – Risk Management, Management Consulting, Contract Negotiation, Financing, Compliance, Audit and Valuation.

Contact Information

Alex Morales Managing Director 2961 Hunter Mill Road Suite 627 Oakton, VA 22124 Tel.: 703.273.0391

Cell: 703.789.1124