INVESTMENT HIGHLIGHTS

Appian is developing a portfolio of 20 small-scale solar power plants with a total capacity of 62.4MWp located in Minas Gerais.

Developing a solar energy asset base will support Appian’s clean energy and carbon aims on a portfolio level whilst delivering attractive risk-adjusted returns to investors. Additional inside-the-fence solar projects at Appian’s operations will also lead to cost savings. Appian’s goal is to further develop a clean energy supply and reach a net zero portfolio to:

• Lower CO₂ towards net zero emissions over the portfolio
• Supply clean energy across Brazilian portfolio through a strategic partnership
• Energy price hedge to Appian’s Brazilian portfolio of equity investments
• Improve social status and enhance trust with stakeholders
• Increase country’s clean energy capacity

The partnership has strong fundamentals, including:

• All 20 projects are in the north of the state of Minas Gerais that boasts some of the highest solar irradiation intensities and has attractive fiscal benefits
• Minas Gerais is the largest distributed generation market with 1.5GW of potential customers
• Regulated market with stable prices, expected to increase in real terms (and have done historically) in line with the investment needed to grow and maintain the grid
• The project has secured government incentives that provide 1 to 1 tax rebate for each MW sold
• Low risk profile for both the development and operation of the solar plants through repeatable project design, engineering, construction, maintenance, and a degree of certainty around development and operational costs per project

More information on Omnigen Energy can be found on their website.