A Hawaii-based commercial and industrial renewable energy portfolio comprising a pipeline of projects serving creditworthy commercial and industrial customers. The portfolio represents an attractive opportunity to gain exposure to Hawaii’s distributed renewable energy market through a portfolio of projects supported by executed PPAs, established customer relationships, and a defined path toward construction and long-term operations. The opportunity is structured to provide capital partners with flexible participation through equity, mezzanine or sub-debt, with project-level debt financing available for a significant portion of the capital requirements.

KEY INVESTMENT HIGHLIGHTS

• Hawaii-focused C&I renewable energy portfolio
• 6.93 MW Solar PV generation capacity + 24.07 MWh BESS
• Approximately $100 million project portfolio
• Portfolio comprises projects serving creditworthy commercial and industrial customers
• Signed PPAs provide contracted revenue visibility
• Projects are positioned for construction and financing
• Debt financing available for at least 50% of the capital stack
• Approximately $10 million of development / safe-harbor capital sought
• Flexible investment structures: Equity / Mezzanine / Sub-Debt
• Attractive target equity returns of 20%+, subject to project-level execution and final investment terms
• Established renewable energy platform with 18+ years of EPC and development experience
• Proven track record across 60+ financed renewable energy facilities, 250+ executed solar leases and 300+ operating solar systems
• Portfolio benefits from an integrated development, engineering, financing, construction and asset-management platform
• Data room prepared for investor due diligence

PORTFOLIO OVERVIEW

The opportunity consists of a pipeline of Hawaii renewable energy projects focused on commercial and industrial customers, including applications across sectors such as hospitality, affordable housing, senior living, agriculture, corporate facilities and retail.

The projects are designed around distributed renewable generation and energy storage solutions intended to provide customers with:

• Lower energy costs
• Reduced peak demand exposure
• Greater energy resiliency
• Improved reliability
• Increased renewable energy utilization

Several projects have progressed beyond the early development stage, with PPAs executed and interconnection and permitting processes underway.

PROJECT DEVELOPMENT STATUS

The portfolio benefits from an established development framework covering:

Origination → Engineering → Financing → PPA → Construction → Operations & Maintenance

Projects within the portfolio are at various stages of development, with key milestones including:

• Executed PPAs
• Interconnection processes underway
• Permitting activities underway
• Construction financing pathway established
• Customer relationships established
• Project-level SPV structure available

This provides investors with exposure to a diversified project pipeline rather than a single development asset.

ATTRACTIVE MARKET POSITION

Hawaii presents a compelling environment for distributed renewable energy due to high electricity costs, grid constraints and increasing demand for resilient and decentralized energy solutions.

The portfolio is specifically positioned around commercial and industrial customers, where renewable generation combined with energy storage can address both energy-cost and reliability requirements.

The projects therefore offer the potential to generate long-term contracted cash flows while supporting customers’ transition toward cleaner and more resilient energy infrastructure.

TRANSACTION SUMMARY