SMART ENERGY SOLUTIONS

PhotovoltaicSOLAR POWER

FARMS

2014

SUMARY

CAPITAL RENOVABLE 2014

Capital Renovable basic information............... 1 Objetives...................................................... 3What we do....................................................... 4Competitive advantages and opportunities....... 5 Market & Expectation..................................... 7Team & Experience......................................... 12What we offer.................................................. 13Contact information......................................... 14

Capital RenovableCapital Renovable is a company dedicated to thedevelopment, construction and operation of projects forgeneration and sale of electricity based on non-conventional renewable energy (NCRE).

What characterizes usWe strive to support the development of NCRE in Chileand Latin America, from our based on the founding anddevelopment of solid business strategy in the industry.

We work to impruvethe position and the

oportunity ofnonconventional

renewable energy

1

Management LeadershipOur multidisciplinary staff and powerful strategic partnerscan provide clients with full turnkey solutions for renewableenergy project implementation or with sophisticatedsustainability solutions to address their specificenvironmental needs.

Our Management, Leadershipand Principles

High standards. Our team is committed to developinglong-term, high-quality, renewable energy generationassets.Execution capabilities. Our team has excellentexecution capabilities and is able to draw on localresources and partners to rapidly implement solutions.Track Record and Reputation. Our team has industryexperience worked with the largest companies in therenewable energy field.Ability to provide “tailor-made” solutions. Our teamtailors solutions to your needs, which includes but is notlimited to: obtaining and structuring project andoperating capital, project budget analysis andmodeling,

2

Objectives

Develop solar projects Small and Medium Generation andDistribution (PMGD) Regulatory Framework Law 20.108 ofthe electricity sector, in rural areas with high energydemand, decreasing dependence on fossil fuels, facing theenvironmental context and the current energy demand fora more committed, responsible and caring manner with aview to future.

Specific Project:Within the portfolio of projects CAPITAL RENOVABLE,mainly in stage pre-investment studies, selecting the bestproject for investors.

We work to make NCR E the basis of the production

strategy and sustainability

of national and international

companies

General Project:

3

What we do

1.- High-quality value-added development of renewableenergy and energy efficiency projects in Chile andLatinamerican energy markets; and the long-termownership and operation of renewable energy assets inChile. Our primary focus is in: solar, wind, and energyefficiency projects.

Capital Renovable focuses its core services on:

2.- Strategic consulting for parties seeking to developrenewable energy and energy efficiency projects in theUnited States or in emerging energy markets. Providinghigh value strategic management consulting and businesspositioning for entities seeking market entry andestablishment in the United States and emerging energymarkets.

4

Competitive advantages andopportunities

Globally there has been a a change in preferences ofsociety at large towards the electric generation throughnon-conventional renewable energy, interest and acquirenew models such as solar, geothermal, wind, etc. Throughthese trends investor looking for new businessopportunities.The opportunity for CAPITAL RENOBVABLE lies inoffering service and products to growing market segmentsand on the other hand the great need to have a realalternative to the high price of oil and electricity at peaktimes to agricultural, dairy sectors, salmon and nationalsmall and medium industry, for many investors is muchmore than just fashion, is a differentiation of products withthe best price, and represent forms of opportunity to obtainvery favorable returns, solar market segments in no caseshould decrease, but rather to grow in time.

Growth of non-conventional renewable energy inChile and in the world

5

No need environmental studies

As this is business model, photovoltaic projects of lessthan 3 MW, It is not necessary the approval ofenvironmental impact studies, having photovoltaic projectswith maximum execution time of a couple of months, takinga return on investment in a short time.

Contact networks at national andinternational level and strategic partners

The experience and qualifications that owns the teamCAPITAL RENOVABLE, translates networks of contacts,strategic alliances existing and potential regionally,nationally and internationally. These alliances involvesnetworks of cooperation with executing engineeringnational and international companies, Satellite maps ofradiation measurement, direct contact with owners of largeequipotential surfaces for use in solar farms and in theprocess of being incorporated our portfolio, panelsuppliers, EPC, among others.

6

Market & Expectation

Over the past four decades, demand for electricity in Chilehas doubled every ten years and, if the economy is to growat an average annual rate of 5% - the goal set by thegovernment in order for the country to attain fulldevelopment by 2018 - its electricity matrix will again haveto practically double in size over the coming decade.Looking further ahead to 2050, estimates suggest that itwill then need an installed capacity of 65,000-95,000 MW,up from around 15,500 MW at present.

Chile’s electricity system

Consumption

Over 70% of Chile’s primary energy consumption issupplied by hydrocarbons (oil, natural gas and coal) whichare mostly imported. In addition, it produces energy fromsome domestic sources, including principallywood/biomass which is used for heating as well as toproduce electricity, water in form of hydroelectricity, andthe natural gas reserves that exist in the MagallanesRegion of the far south.Comparison with industrialized countries suggests that, asthe Chilean economy continues to expand, so too will itsenergy intensity. In line with Chile’s commitment tocontributing to mitigation of climate change, efforts are,however, in place to increase energy efficiency.

7

Electricity matrix

Over 70% of Chile’s primary energy consumption issupplied by hydrocarbons (oil, natural gas and coal) whichare mostly imported. In addition, it produces energy fromsome domestic sources, including principallywood/biomass which is used for heating as well as toproduce electricity, water in form of hydroelectricity, andthe natural gas reserves that exist in the MagallanesRegion of the far south.Comparison with industrialized countries suggests that, asthe Chilean economy continues to expand, so too will itsenergy intensity. In line with Chile’s commitment tocontributing to mitigation of climate change, efforts are,however, in place to increase energy efficiency.

Market structure

Chile’s electricity industry comprises three distinctactivities: generation, transmission and distribution. Theseare developed by private companies while the State,independently of its subsidiary role, regulates andsupervises the industry and provides investmentrecommendations for generation and transmission,principally through the National Energy Commission(CNE), the Electricity and Fuels Superintendency (SEC)and the Energy Ministry.

8

Status of NCRE projects in Chile

During the month of April, enter the EnvironmentalAssessment System 4 projects totaling 333 MW,corresponding to two 193 MW wind farms, solar powerplant of 135 MW and a mini hydro plant of 5.4 MW. As forapproved projects april favorably evaluated a total of 7projects by 243 MW corresponding to four 206 MW solarfarms, two mini hydro plants of 15 MW and a biomassplant by 22 MW.

Market structureCurrently, the installed NCRE in the 4 interconnectedsystems capacity reaches 1,023 MW, which correspondsto 5.98% of the total electric power in the country.Technology with a greater presence biomass is 41%, thenmini hydro with 30%, followed by wind with 29% and finallythe solar with 0.2%. Note that solar technology isincorporated into the matrix less than a year.

Graph 1: Installed Capacity (MW).

9

9

In the biggest systems, the Central Interconnected Systemis having increased presence NCRE 980 MW equivalentto 7.4% of its total capacity. Meanwhile, the InterconnectedSystem of Norte Grande is 16.3 MW in operation,corresponding to 0.4% of the total installed capacity.

Graph 2: Cumulative Capacity in MW, SIC Market (Central InterconnectedSystem)

Graph 3: Cumulative Capacity in MW, SING Market (InterconnectedSystem of Norte Grande)

10

NCRE Generation

During April, NCRE contribution to the larger systems ofthe country gets to 5.21%. The main energy source isbiomass with a contribution of 55%, followed by the minihydro at 31%, then the wind with 13% and finally the solarwith a contribution of 0.1%.

Market Evolution

During April, marginal cost in the Central InterconnectedSystem averaged 166 USD$/MWh, lower value by 4% theprevious month product of falling total system generation.The Interconnected System of Norte Grande, marginalcosts had an average of 80 USD$/MWh higher by 24%than that observed in March, due to a rise in the share ofdiesel injection system total generation

Currently, the only goal is associated with NCRE Law20.257, known as "NCRE Law" requiring that a percentageof the energy comes from NCRE, reaching 20% by 2025.

Expectations for Non Conventional RenewableEnergy

11

Team & Experience

Capital Renovable consists of a large group ofprofessionals with long experience in the energy sector,allowing each project to be tackled in a multidisciplinaryway and with the expertise to bring it to success.

Among the group of people in the team and collaboratorscan be found: • Electrical Engineers • Building Engineers • Graduates in Environmental Sciences • Economists • Attorneys

12

Team & ExperienceBased out of offices in santiago de chile, Capital Renovablefocuses its objectives in the development, operation and eventualsale of small solar farms, and also is in a process for expanding toother countries within the Latinoamerican región.

Capital Renovable has a range ofexperience in NCRE, most of it in eolic,however our interest and commitment tosolar energy since the last year can beseen in the incorporation - via financing,engineer and construction, of a portfolio ofthree projects in north of chile (3 MW).

12

Based on initial enquiries with equipment suppliers and thepermitting procedures, the first of out flagship proyects in photovoltaic energy could be commissioned and producing energy by thesecond quarter of 2015

1.- Develop new business opportunities in Latam. o Find and work with development partners to create viable solar medium size PV projects on privately owned land. o Work with local governments and private enterprises to create viable commercial propositions for the development of solar projects.2. Lead commercial negotiations to secure viable land for solar photovoltaics (PV) projects.3. Create strategic partnerships as required with local or external firms for the deployment of commercial roof projects.4. Collaborate on other business development opportunities in Latam as required.

We offer

Lead Business Development Strategic Initiatives:

13

CONTACTINFORMATION

Jun 2014

For more details and / or questions,please contact us at.

www.capitalrenovable.com

El Lleuque 2579 – Vitacura. Santiago, Chile

Phone (+56.2) 24054810contacto@capitalrenovable.com

CAPITAL RENOVABLE