INVESTING INCLEAN ENERGY.SHAPING THE FUTURE.

ADENIUM ENERGY CAPITAL

OUR VISION

Adenium aims to originate, finance and manage a portfolio of over 1,000 MW of energy-producing assets by 2020.

We’ve already developed and financed 300 MW of solar PV assets – so we’re well on our way to achieving this aim.

OUR STRATEGY

We follow an end-to-end approach tooriginating, financing and managing clean energy projects.

This strategy allows Adenium to maximize value for our co-investors and shareholders. It’s a proven success, managed by our in-house experts and supported

by top-tier legal, tax and technical consultants.

ORIGINATION ANDDEVELOPMENT

We use our extensive industry network and in-house expertise to identify long-term investment opportunities. Adenium funds and manages planning studies and permissions, sets up country-specific project companies, andmanages the entire project development processin collaboration with localpartners.

FINANCING

We finance our projects on anon-recourse basis, workingin partnership with strategic co-investors, commercial lenders and development finance institutions active in this space.

ASSETMANAGEMENT

Adenium’s team performs the day-to-day investment and administrative operations needed to manage theassets.

WHO WE AREAdenium Energy Capital is a proprietary investment firm that develops, finances, owns and operates a global portfolio of renewable energyprojects.

We launched in 2010 and have been committed to developing alternative energy assets around the world ever since.

Based in Dubai, Adenium Energy Capital is the result of a joint enterprise from some of the leading entrepreneurs in the

Middle East. Our projects generate long-term results for our stakeholders, while also expanding the clean energy generation

capacities of regions looking to increase their renewable resources.

PROJECTSAdenium’s projects are located in the Middle East, Asia, Africa and Europe.

Several are already live and achieving stable, long-term, non-market correlated returns for us and our co-investors.Further projects are currently in development – and we’re always looking to develop even more projects in our target markets.

JAPANJapan is a key region for Adenium – we aim to reach to a 250MWPV portfolio there by2020. The country represents an attractive, low-risk market for utility-scale solar PV thanks in part to the market-adjusted feed-in tariff scheme implemented under the Renewable EnergyAct.

In operation

Kawasakiproject

• 20 MWdc solar PV plant in Tagawa, 40km fromFukuoka Airport

• It produces 24 GWh ofenergy annually

• The electricity it provides can power more than 4,309 households

• 20-year power purchase agreement contractedwith Kyushu ElectricPower

• Non-recourse project financed by Shinsei Bank.

In Construction

HironoandYamada

• Financial Close in Q2 2018with non-recourse finance

• 39 MWdc of solar PV plants in Iwate Prefecture

• Will produce a combined of 50 GWh of energy annually

• The electricity it will provide would be enough to power over 7,350 households

• 20-year power purchase agreements.

JORDANWe’ve developed and financed four solar photovoltaic projects in Jordan, adding a total of 57MWdc of clean, renewable energy generation capacityto its grid.

In operation

Jordan Solar One (24 MWdc),Al Zanbaq(11 MWdc),Zahrat AlSalam(11 MWdc),and Al Ward Al Joury (11 MWdc)

• Solar PV plants in Mafraq and the Ma’an Development Area

• The area of the plants spans over 86 hectares intotal

• They produce a combinedtotal of 130 GWh of energyannually

• The electricity they provide could power more than 25,000 households

• 20-year power purchase agreements contracted with National Electric Power Company

• Non-recourse project financedwith the International FinanceCorporation (IFC) as lead.

In Financing

Lafarge CementJordan

• Expected commissioning date: Q42018

• 15 MWdc solar plant in Tafilah

• The area of the plants spans over 30hectares

• It willproduce 34 GWh of energy annually

• It will be non-recourseproject financed.

ITALY

Exited

Adenium’s first investment,comprising 30 assets , 90 MW in total. The portfolio wasco-managed by Adenium andthe UK-based Foresight Group until our exit in December2016.

KENYAAdenium is activelydeveloping projects in Kenya due to the country’s excellent solar irradiation levels, wind speed and attractive renewable energy framework.

In Development

Gogar I Solar Park and

Mwingi I Solar Park

• Expected commissioningdate: Q1 2019

• 2 x 12 MWdc of solar plants in Nakuru andthe Mwingi Area

• They will produce 50 GWh of energy annually

• The solar plants will be non-recourse project financed.

FURTHER PROJECTSIn Development

Sub-Saharan Africa, theMiddle

East and North Africa and

South-East Asia

Emerging and developing economiesin Sub-SaharanAfrica, the Middle East and North Africa (MENA),and South-East Asiahave an ever-growing demand for reliableandaffordableenergy.

The independent power producer (IPP) market for renewable projects across these jurisdictions is flourishing, as renewable energy has becomecostcompetitive even without subsidies. Governments are implementing important regulatory changes to promote renewable energy investmentsin a bid todeliver large economic andenvironmental benefitstotheir economies.

Working with trusted local partners, Adenium is actively developing projectstobring clean and affordable renewable energy projectstothese markets.

Captive renewable energy

projectsforindustrialofftakers

Adenium is also developing renewable energy assets for captive and net-metering industrial generation applications across Sub-Saharan Africa, North Africa, the Middle East and Asia forcorporateofftakers.

Private-to-private projects are a rapidly expanding sub-segment in many regions. Adenium is working with international financial institutions and corporate offtakers on bankablestructures.

By working with Adenium, industrial customers can cut costs on electricity, protect themselves against uncertain future energy prices, and build ontheir reputation forenvironmental responsibility.

In Development

Kawazu project

• Expected commissioning date: Q1 2020

• 36 MWdc of solar PV plants in Shizuoka Prefecture

• Financial Close in Q4 2018with non-recourse finance.

WIND & BIOMASS EXPANSION Adenium is expanding its portfolio of green energy assets:

• We are working on a 20+ MW portfolio of biomass (woodchip) assets in Japan

• We are investing in wind farms across our target regions.

OUR COMPANIESAs part of our diversification strategy, Adenium has funded Yellow Door Energy to target the distributed solar market niche.

YELLOW DOORENERGY

Launched in 2015, Yellow Door is a Dubai-based company that invests in and operates distributed solar and energy efficiency infrastructure for commercial and industrialcustomers.

The firm, an independent entity that is majority-owned and funded by Adenium, manages the installation, operation and maintenance of solar systems on a lease basis, enabling organizations to reduce their electricity bills and meet their sustainability objectives without investing their owncapital.

Yellow Door operates in the UAE, Jordan and East Africa, and continues to examine opportunities across other markets in the MENAregion.

Caymanoffice: Cricket Square Hutchins DriveP.O. Box 2681 Grand CaymanKY1 1111, Cayman Islands

Headoffice:Emirates Financial Towers 6th Floor, South Tower Dubai International Financial CentrePO Box 506773, DubaiUnited Arab EmiratesTel:+97143857997

Japanoffice:Daiwa Azabu TerraceLevel 53-20-1 Minami Azabu, Tokyo, JapanTel:+81 3 3 6859 8590

Jordan office:Office 201, Prime Center 13 Zahar StreetUm Alsummaq Amman, Jordan Tel: +96265541655

CONTACT USinfo@adeniumcapital.com

mailto:info@adeniumcapital.com