January 13, 2022

Corporate Name: RENOVA, Inc.

Representative: Yosuke Kiminami, Founding CEO

(Stock code: 9519

Tokyo Stock Exchange 1st)

Contact: Kazushi Yamaguchi CFO

(TEL: +81-3-3516-6263)

Notice of Revenue from Electricity Sales in December 2021

RENOVA, Inc. announces the electricity sales figures for renewable energy power plants in Japan.

1. Figures for Electricity Sales

Fiscal Year Ending March 31, 2022

Number of

Generation

Planned

Actual Electricity

% Change

% Change YoY

Power Plants

Capacity*1 (MW)

Electricity Sales

Sales

from Plan

Above: Existing plants*3

under Operation

(kWh) *2

(kWh)

Below: All

April

Solar: 11

Solar: 312.8

46,032,976

50,126,941

+8.9%

+50.0%

Biomass: 1

Biomass: 20.5

+5.3%

May*4*

Solar: 11

Solar: 312.8

42,292,289

41,877,844

-1.0%

+98.2%

Biomass: 1

Biomass: 20.5

+6.9%

June

Solar: 11

Solar: 312.8

78,166,785

68,944,756

-11.8%

+54.5%

Biomass: 2

Biomass: 95.5

+46.6%

July*5

Solar: 11

Solar: 312.8

96,611,419

94,185,957

-2.5%

+79.4%

Biomass: 2

Biomass: 95.5

+145.0%

August

Solar: 11

Solar: 312.8

98,084,778

94,893,613

-3.3%

+3.4%

Biomass: 2

Biomass: 95.5

+85.2%

September

Solar: 11

Solar: 312.8

88,457,000

89,274,866

+0.9%

+23.5%

Biomass: 2

Biomass: 95.5

+129.0%

October*6

Solar: 12

Solar: 353.6

93,163,278

93,361,203

+0.2%

+23.2%

Biomass: 2

Biomass: 95.5

+143.9%

November

Solar: 12

Solar: 353.6

84,021,404

86,839,386

+3.4%

+15.6%

Biomass: 2

Biomass: 95.5

+145.7%

December

Solar: 12

Solar: 353.6

82,131,093

83,496,892

+1.7%

+11.5%

Biomass: 2

Biomass: 95.5

+173.1%

January

Solar: 12

Solar: 353.6

83,605,598

Biomass: 2

Biomass: 95.5

February

Solar: 12

Solar: 353.6

80,880,845

Biomass: 2

Biomass: 95.5

March

Solar: 12

Solar: 353.6

94,821,333

Biomass: 2

Biomass: 95.5

Full-Year

‒

‒

968,268,797

YTD

‒

‒

708,961,002

703,001,447

-1.2%

+38.8%

Cumulative

+84.3%

*1 The generation capacity for solar power plants is based upon the maximum output of each solar power plant's modules, and the generation capacity for biomass power plants is based upon the gross capacity. Both list generation capacity at month end.

*2 The planned electricity sales figures are calculated by RENOVA at renewable energy power plants operated in Japan.

*3 Existing plants refer to those which have been in operation for at least 13 months.

*4 There was an outage at the biomass power plant due to the scheduled annual maintenance in May 2021.

*5 Kanda Biomass power plant operated in June 2021.

*6 Karumai Sonbou solar power plant operated in October 2021.

Comparison between Planned and Actual YTD Cumulative Electricity Sales (in kWh)

1,200,000,000

Planned (of all)

Actual (of all)

1,000,000,000

800,000,000

600,000,000

400,000,000

200,000,000

0

Apr.

May

June

July

Aug.

Sep.

Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

2021

2022

2. Monthly Electricity Sales by Plant

December 2021

YTD

Ownership

Purchase Price*5

Generation

Preliminary

Cumulative

Figures from

Power Plant

Capacity*1

Figures

Interest

(per kWh)

Apr. 2020 to

(MW)

(kWh)

Mar. 2021

(kWh)

Suigo-Itako Solar, Inc.

68.0%

40 yen

15.3

1,137,960

13,819,104

Futtsu Solar, Inc.

51.0%

40 yen

40.4

3,483,600

38,028,960

Kikugawa-Ishiyama Solar, Inc.*6

63.0%

40 yen

9.4

792,632

9,031,562

Kikugawa-Horinouchiya Solar, Inc.*6

61.0%

40 yen

7.5

616,862

7,094,143

Kokonoe Solar T.K.*7

100.0%

40 yen

25.4

1,424,456

20,179,064

Nasu-Shiobara Solar T.K.

100.0%

40 yen

26.2

1,553,064

20,935,320

Ozu Solar T.K.*6*7

100.0%

36 yen

19.0

1,509,012

16,088,922

Yokkaichi Solar T.K.*6

100.0%

36 yen

21.6

1,232,784

18,120,900

Nasu-Karasuyama Solar T.K.*6

100.0%

36 yen

19.2

1,496,352

16,379,708

Karumai-West Solar T.K.*6

100.0%

36 yen

48.0

1,815,000

41,757,500

Karumai-East Solar T.K.*6

100.0%

36 yen

80.8

2,800,800

67,355,100

Karumai-Sonbou T.K.

55.0%

36 yen

40.8

1,544,100

7,720,300

United Renewable Energy Co., Ltd.

35.3%*8

32 yen/24 yen*9

20.5

13,105,270

109,981,480

Kanda Biomass Energy K.K.

53.07%

24 yen/32 yen*9

75.0

50,985,000

316,509,384

83,496,892

703,001,447

Total

*5 The fixed purchase price, exclusive of consumption tax, is based upon the FIT Scheme for each power plant and may differ from the actual electricity sale price.

*6 Kikugawa-Ishiyama Solar, Inc., Kikugawa-Horinouchiya Solar, Inc., Ozu Solar T.K., Yokkaichi Solar T.K.,Nasu-Karasuyama Solar T.K., Karumai-West Solar T.K. and Karumai-East Solar T.K. consider the impact of output curtailment caused by Utilities' grid construction in the vicinity of the RENOVA's Power Plant in full-year performance forecasts.

*7 Expected output curtailment at the Kokonoe Solar T.K. and Ozu Solar T.K. are incorporated into its full year performance forecasts.

*8 RENOVA has invested in URE through Sensyu Holdings Co., Ltd., a subsidiary of RENOVA. Assuming that RENOVA directly owns URE's shares, RENOVA's substantial interests, calculated by multiplying URE's shares owned by Sensyu Holdings by RENOVA's equity in Sensyu Holdings, are 35.3%.

*9 The purchase price for wood biomass derived from thinned wood is 32 yen whereas that for general wood biomass is 24 yen.

3. Status of output curtailment

In December 2021, Kyushu Electric Power, Incorporated. issued an output control instruction and a part of power plants operated by RENOVA stopped generating electricity.

As the effect on the consolidated financial forecast for the fiscal year ended March 31, 2022 was minor, the total amount of power generation loss was 0.018% (Total power generation due to output restriction in December 2021) of the annual revenue plan for all power plants.

In the process of setting planned full-year figures for electricity sales, RENOVA takes into account certain output control risks and weather impact risks in the power generation business.

(Output curtailment by Power plant)

Power plant

Days of output curtailment

The percentage of total lost power generation

(Figures in parentheses are

compared to the planned full-year figures for

annual totals.)

electricity sales of all solar power plants

operated by RENOVA.

(Figures in parentheses are annual totals.)

Kokonoe Solar power plant

1 day (16 days)

0.003% (0.061%)

Ozu-machi Solar power plant

1 day (16 days)

0.003% (0.058%)

Kanda Biomass Power Plant

4 days (45 days)

0.012% (0.165%)

[For inquiries, please contact] Kenichiro Nose, Investor Relations Tel: +81-3-3516-6263

Email: ir@renovainc.com

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Renova Inc. published this content on 13 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 January 2022 05:30:04 UTC.