EFTA01366655.pdf

Amendment #4 Page 226 of 868 lePtiff,.cglasit‘ The ?plowing charts provide an overview of out currency dentied Call Right Projects and Tnird-Perty Cal Right Projects by geography and technology POWS/4th Plithnitte For a detailed description of the terms al the &peon Agreement see 'Gegen reationshos and related party trarsactons—Project Sappon Agreemere ' Competition Power generations a caplal-intenswe business with numerous rxlustry panopants We compete to acquire raw projects with a large and averse group of developers who lean power pant ownership, inclepencleM power producers, hence' investors and certain Mites These competitors range in terms of sae, geographo focus, finance' resources and operabrg capedites We also compete to supply energy to our potential customers with a hinted matter of utilities arc other providers of dstributed generation. Based on the Wong asset devebprere ppelne and acquisibon track record of our Sponsor, we beleve that we compete favorably with our compelMrs based on Ire followrg factors in are regonsnwnich we operate We competewith other developers, indeperdent power produces and financial sweaters based on Oil retationshp wth our Sponsor and our development experts.. pipebne. global foctprul and brand reprabon To the °dell we re contract projects upon terminatxxi of a PPA we compete with traditioral ubstes pnrnanly based on cost of captal, generation located at astaner sges operators and management expense pace (including preactablity ot pore), green attributes of cower the ease by which ostorners can switch to electricity generated by air energy systems and our open archtectute approach to workrg within the inckrary, which facilitates collaboration and project acquisitors Canpetteve <endears within Our respective markets may be substareally affected by changes in government incentives and other programs designed to facilitate the development of renewable energy Environmental matters We will be supect to enworrnental taws and regulators n the predictions in which we own arid operate oar property. These laws and regulations may require that governmental permits and approvals be obtained for renewable energy projects before constructon, dunng or uponcessaton of operators or poor to transfer of ownership or control While vie mu costs in the Ordnary Course Cl PrenesS CO comply with theSe laws, regaratiCaS and perm? recarreirent3. we do rot expect that the costs of compliance wit have a material road on our heirless, financial condition or rests of operations We also do rot anticipate matenal capital expenditures for ermronrnereal contras for our projects n the next several years. These laws arid regulabcns frequently charge and often become more stringent, or subject to more stringent nterpretaran or enforcement, and therefore have changes couid mese us to incur matenally higher costs 218 http://cfdocs.btogo.com:27638/cf/drv7/pub/edgar/2015/07/20/0001193125-15-256461/d78... 7/20/2015 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0058183 CONFIDENTIAL SDNY GM_00204367 EFTA01366655