Marubeni Corporation (hereinafter, 'Marubeni'), through a Special Purpose Company (hereinafter, 'SPC') established with Siraj Energy (hereinafter, 'Siraj') in Qatar and Total Solar International (hereinafter, 'Total') in France, has executed a Power Purchase Agreement with Qatar General Electricity and Water Corporation (hereinafter, 'KAHRAMAA') for the Al Kharsaah Solar PV IPP Project.

The SPC (equity participation: Marubeni by 20.4%; Total 19.6%; Siraj 60%) will develop, construct, operate and maintain the Solar PV plant which has a capacity of 800MW. The Commercial Operation Date is projected for April 2022, at which time the facility will start producing power which will be purchased by KAHRAMAA for a 25- year term. Project Financing is also being arranged for this project.

This project will be the first large scale solar plant in Qatar. It also marks Marubeni's 2nd IPP in Qatar, the first being the Mesaieed Gas Fired Combined Cycle IPP Project (2,007MW) which has been in operation since 2010.

Marubeni maintains more than 11.5GW of net IPP generation assets across 19 countries and holds a stake in both the Sweihan Solar PV IPP Project (1,177MW) in the UAE (1) and the Amin Solar PV IPP Project (105MW) (2) in Oman, making the Al Kharsaah Solar PV IPP Project the 3rd large scale solar plant that Marubeni has worked on in the MENA region. Marubeni plans to continue proactively expanding development of large scale solar plants, and is furthermore committed to contributing to the supply of stable power in the MENA region.

In September of 2018, Marubeni issued the Notification Regarding Business Policies Pertaining to Sustainability in Relation to Coal-Fired Power Generation Business and Renewable Energy Generation Business (3). As per this notification, Marubeni will continue to expand its business activities in the renewable energy power sector throughout the world, and especially in the MENA region where many large scale projects are in the works.

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