Press release

Pacifico Energy Commences Construction on 102 MW Utility Scale Solar Power Plant in Ako-gun, Hyogo Prefecture, Japan

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Pacifico Energy K.K. (Head Office: Minato, Tokyo) is pleased to announce
the commencement of construction of a 102.144 MW(DC) solar power
generation plant in Ako, Hyogo Prefecture.

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Ako Mega Solar Power Plant Completion Image (Photo: Business Wire)

Ako Mega Solar Power Plant Completion Image (Photo: Business Wire)

The Ako plant will be constructed on the site of a golf course in
Ako-gun, Hyogo Prefecture, Japan. Operations are expected to start in
Spring of 2021. Once commissioned, the plant will generate approximately
125 million kilowatt hours of electricity annually, contributing to an
annual reduction of approximately 5 tons of CO2 emissions.
Kansai Electric Power Co., Inc. will purchase all electricity generated
by the plant for twenty (20) years at 24 yen per kilowatt hour, pursuant
to the Act on Special Measures Concerning Procurement of Electricity
from Renewable Energy Sources by Electric Utilities.

MUFG Bank, Ltd. arranged the lending syndicate, Mitsubishi UFJ Morgan
Stanley Securities Co., Ltd. acted as financial advisor to Pacifico
Energy Ako G.K. and Baker McKenzie acted as legal counsel to Pacifico
Energy Ako G.K. on this transaction.

Pacifico Energy has now commenced construction on eleven (11) solar
power plants throughout Japan (including the Ako plant) totaling 930
MW(DC), four (4) of which (totaling 227 MW(DC)) have been completed and
are now in commercial operation.

Leveraging accumulated know-how and experience gained through
developing, constructing, and operating utility scale solar power plants
to date, the company will continue its excellent track record and build
this solar power plant to promote safe, stable and environmentally
friendly domestic clean power in cooperation with regional communities
and the environment.