Recurrent energy and tehachapi solar projects discussion

1. Recurrent energy and tehachapi solar projects discussion September 20, 2011 Stallion springs community services district

2. Recurrent Energy Introduction

3. Recurrent Energy: Business Overview • Leading global solar project developer helping our world to sustainably meet its energy needs • 2.4 GW project pipeline and 450 MW portfolio of signed contracts makes Recurrent Energy one of the largest PV developers in North America • Balanced development strategy featuring distributed and central-scale utility solar projects • Primary solar development company for Sharp Corporation worldwide • Seasoned leadership team with experience in conventional and renewable power business Recurrent Energy has the resources, experience, technology, and access to capital to deliver utility solar at any scale.

4. 5 MW Sunset Reservoir Project 5 MWstc ~24,000 PV Modules Above Water Reservoir Among Largest of Kind Currently Operating

5. 22 MW of 80 MW: Southern California Edison 22 MWstc ~71,000 PV Modules Tracker System Part of 50 MW of Signed PPAs 2012 COD

6. 180 MW of Solar Farms in Ontario 180+ MWstc Ontario Power Authority FiT 19 Projects in Total All Ground-Mount Solar 2012-2014 CODs

7. Solar PV Introduction

8. Solar farms are low impact rural land use Roughly 6’-8’ off the ground • Roughly the height of a vineyard and the spacing of an orchard • Ground is 90% unencumbered and planted with ground cover • Minimal reflections – deployed at Bakersfield Airport • No hazardous materials • Modules are silent; no odors; minimal moving parts • Constant remote performance monitoring • Periodic maintenance – module washing and inverter repair

9. Tehachapi Solar One and Two Project Overview

10. RE Tehachapi Solar – 20 MW • Project Highlights: • 20 MW of electrical generation • Approximately 60 millions kWhs produced annually (enough to power over 5,000 homes) • 158 acre disturbed agricultural site • Land not under Williamson contract • Existing A Zone to remain in place • No sensitive biological species on site • Water rights retained by current owner • Recurrent Energy would be the property owner • Interconnecting to 66 kV SCE circuit adjacent to site • Interconnection • Bullet • Bullet • Bullet N Highline Road Pellisier Road 10

11. RE Tehachapi Solar Two – 20 MW • Project Highlights: • 20 MW of electrical generation • Approximately 60 millions kWhs produced annually (enough to power over 5,000 homes) • 157 acre disturbed agricultural site • Land not under Williamson contract • Existing A Zone to remain in place • No sensitive biological species on site • Water rights retained by current owner • Recurrent Energy would be the property owner • Interconnecting to 66 kV SCE circuit adjacent to site • Interconnection • Bullet • Bullet • Bullet N Pellisier Road 11

12. Project highlights • 40 MW of renewable energy • Enough to power 10,000 homes • Job creation • Over 200 construction jobs • Sales tax generation • Sales tax directed to Kern County • Reduced water demand • Existing demand 1,100 AFY • Project operational demand 2 AFY • Minimal site coverage • Approximately 3 acres out 315 total project site area have foundations • Decommissioning • Decommissioning plan and financial assurances in place prior to building permit

13. Permitting & Development Schedule • Projects expected to be considered by Planning Commission in October 2011. • Draft EIR issued by Kern County this summer; County staff preparing Final EIR for consideration by the Planning Commission • Planning Commission meeting this fall • Projects expected to become operational between year end 2014 and 2015 • Construction expected to begin in 2014 • Typical construction period for a 20MW project is 12 months

14. Key Issues

15. Minimal water use • Project sites are located within the Tehachapi-Cummings County Water District (TCCWD) service area. • Existing water demand 1,100 AFY • Water demand is limited to project construction and cleaning of the modules: • 63.83 AF construction • 6.75 AF for landscape planting • 1.84 AFY cleaning & maintenance • The TCCWD has indicated that they will be able to provide water for construction and operations.

16. Agricultural resource management • Consistent with County requirements, the project will preserve agricultural mitigation land at a 1:1 ratio for land area disturbed by the project and prepare an Agricultural Management Plan. • Mitigation land will be of equal or higher ag value. • The AMP will demonstrate how the sites will be managed to support dryland pasture for sheep grazing and be seeded with non-invasive grassland species plants, which will not be irrigated. • Project sites maintain agricultural zoning designation (A).

17. Visual character • Projects include setbacks, fencing and landscaping every 10 feet • County requires inter-woven slats to screen from view • Views from residences in neighboring hillsides may include distant view of panels • Views from adjacent streets would include fencing until landscaping has matured • Visual impacts considered in EIR

18. DECOMMISSIONING • Consistent with County requirements, Recurrent Energy will provide Decommission Plan for review and approval prior to construction. • Together with the Decommission Plan, Recurrent Energy will provide financial assurances to Kern County to ensure that decommissioning of the site is provided for in the event the facility is abandoned or longer operable.

19. Conclusion & Questions