The marketplace for PV-Assets

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Status Quo

Expected average returns on investment in new German PV-installations:

Source: Gold.de; SEMI PV-Group pvgroup.org/node/2496

Secondary PV-market

The Fairy Tale of 20+ years investments Various reasons might make it interesting to liquidate long-term pv investments:

Private Sector §  Tax

§  Divorce

§  Transfer of property

§  Liquidity needs

§  Financial restructuring

Commercial Sector §  Financial restructuring

§  Creation of liquidity

§  Termination of Funds

§  Non performing assets

§  Asset picking / Portfolio building

§  Selling to lower expected return

investors

For  Sale  

§  „Old“ FiT - tariffs

§  Reduced construction risk / Existing track record

§  Interesting risk / return profile

§  Transfer of existent debt financing

§  Repowering / optimization

§  Low risk of “children's disease”

= PV interesting Asset

Advantages secondary PV-investments

*Source: EPIA 2012, Global Market Outlook until 2016

0

20,000

40,000

60,000

80,000

100,000

120,000

140,000

160,000

180,000

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

European cumulative scenarios until 2016 - Moderate and Policy-Driven (MW)

Historical Daten EPIA-Moderate EPIA-Policy Driven

PV Installations in EU

*Source: EPIA 2012, Global Market Outlook until 2016 / Own Calculation

Secondary Market EU

 -­‐      €    

 1,000,000,000  €    

 2,000,000,000  €    

 3,000,000,000  €    

 4,000,000,000  €    

 5,000,000,000  €    

 6,000,000,000  €    

2000   2001   2002   2003   2004   2005   2006   2007   2008   2009   2010   2011   2012   2013   2014   2015   2016  

Poten,al  secondary  market  Europe    //  Average  price  1.500€  

1,5%   2,0%   2,5%   3,0%   3,5%  

§  Worldwide PV Marketplace

§  About 1 GWp for commercialization (on Milk the Sun platform + UtilityScaleNetwork.com)

§  Worldwide project base on Milk the Sun : EU, USA, Canada, India, Japan, Australia. Latin America

§  Investor base from more than 40 countries

§  Investors: Investment asset identification and pre-screening

§  Sellers: Market test without actually going on the market

§  => Liquid trading solution for Sellers and Investors in the PV Marketplace

Highlights Milk the Sun