EFTA01366605.pdf

Amendment #4 Page 176 of 868 aler it Commis We expect the renewable generation segment to conbrue to oder high-growth oppoduntes Owen by • ircreasng demand for power sautes due to acceteratr.g incicetriaceaticc an expanding middle class and the reed to develop energy grid infrestructue n ois Intel target markets. • the competitive cost or most clean energy *chnologies and. most significanty. the cmgc4ng reduction in the cost of solar and wind energy. which will increase the rumber of markets in which grid panty is achieved. • transmission and dsintiction charges and the effects of an bang transmission infrastructae. which enable renewable energy generation sources located al customer sites. or *ceStntX20lf generation." to be more C0mpelitive vice, or cheaper nob grid-suppled electricity. • the replacement or aging and convectional power general en facittes in the face of ncreasirg industry challenges. such as reglatcey banters. increasing costs of arid dfficultes in obtaining and maintainrg applicable punts and the decommesoning ce certain types ciconver4cnal power generation facilities. such as coal and rs.clear facilities. • the ability tocouple renewabe power generation with other farm of power generation crest ng a hybrid energy soluton capable of providing energy On a 247 basis while reducing the average cost cf electocey Maned throcch the system. • the desire of energy consumers to iock xl predclable rate king-term pricing of a reliable energy source. • renewable power generations ability lo Vilize freely available sources of fuel, avoiding the risks of price vclatildy and market dsruptions associated with many convertor.' fuel sources erwironmertal concerns over conventional power generation and governrrent polices that encourage development of renewable power. such as retcnal provincial state or local renewable ponScilio standard progains, which motivate Lailites to procure electncty supply from re ewade resources In addition to renewable energy we expect natural gas to grown a soace of electricity generation due to es retain/eft law cost and low environment& impact compared to other fossil fuel sources, such as cone and Oil Solar energy Solar erergy is the lastest growing source of cismiatve generation capacity with a projectedCA(3R of 31% from 2010 to 2020 Annual global solar erergy installations are expected to increase from 40 GW in 2013 to 8.5 GW in 2020 The Idtowing chart reflects the actual and protected growth of annual global solar energy installatens Iran 2010 to NN Global annual solar energy installations (in GW), 2010-2020 1111.11 ace c.11 del cer2 ECU aim ace% •hvisailsodio aliume cerSE NOE ceiliE pewee an% Mier tee 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-0058133 CONFIDENTIAL SDNY GM_00204317 EFTA01366605