March 8, 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 February 2022

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

86,058,331

+2.9%

+4.9%

Biomass: 2

Biomass: 95.5

+173.5%

February

Solar: 12

Solar: 353.6

80,880,845

86,155,488

+6.5%

-2.5%

Biomass: 2

Biomass: 95.5

+127.9%

March

Solar: 12

Solar: 353.6

94,821,333

Biomass: 2

Biomass: 95.5

Full-Year

968,268,797

YTD

873,447,464

875,215,266

+0.2%

+29.1%

Cumulative

+100.8%

*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

February 2022

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

1,429,848

16,536,240

Futtsu Solar, Inc.

51.0%

40 yen

40.4

3,986,160

45,388,200

Kikugawa-Ishiyama Solar, Inc.*6

63.0%

40 yen

9.4

991,040

10,873,656

Kikugawa-Horinouchiya Solar, Inc.*6

61.0%

40 yen

7.5

769,012

8,525,050

Kokonoe Solar T.K.*7

100.0%

40 yen

25.4

1,903,056

23,736,608

Nasu-Shiobara Solar T.K.

100.0%

40 yen

26.2

2,335,200

25,129,152

Ozu Solar T.K.*6*7

100.0%

36 yen

19.0

1,660,014

19,394,694

Yokkaichi Solar T.K.*6

100.0%

36 yen

21.6

1,819,776

21,415,548

Nasu-Karasuyama Solar T.K.*6

100.0%

36 yen

19.2

1,855,272

19,905,044

Karumai-West Solar T.K.*6

100.0%

36 yen

48.0

3,260,600

47,367,600

Karumai-East Solar T.K.*6

100.0%

36 yen

80.8

5,034,000

75,784,700

Karumai-Sonbou T.K.

55.0%

36 yen

40.8

3,092,400

12,772,700

United Renewable Energy Co., Ltd.

35.3%*8

32 yen/24 yen*9

20.5

11,814,510

134,588,890

Kanda Biomass Energy K.K.

53.07%

24 yen/32 yen*9

75.0

46,204,600

413,797,184

86,155,488

875,215,266

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 February 2022, 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 February 2022) 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

0 day (18 days)

% (0.069%)

Ozu-machi Solar power plant

1 day (19 days)

0.002% (0.068%)

Kanda Biomass Power Plant

4 days (53 days)

0.015% (0.201%)

[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 08 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 March 2022 05:10:05 UTC.