RENOVA : Notice of Revenue from Electricity Sales in May 2022

June 10, 2022

Corporate Name: RENOVA, Inc.

Representative: Yosuke Kiminami, Founding CEO

(Stock code: 9519

The Prime Market of the Tokyo Stock

Exchange)

Contact: Kazushi Yamaguchi CFO

(TEL: [phone])

Notice of Revenue from Electricity Sales in May 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*4	Solar: 12	Solar: 353.6	100,781,976	101,254,728	+0.5%	-5.5%
	Biomass: 2	Biomass: 95.5				+102.0%
May*4*	Solar: 12	Solar: 353.6	94,707,758	101,840,058	+7.5	+7.3%
	Biomass: 2	Biomass: 95.5
				+143.2%
June*4	Solar: 12	Solar: 353.6	75,516,483
	Biomass: 2	Biomass: 95.5
July*4	Solar: 12	Solar: 353.6	82,506,135
	Biomass: 2	Biomass: 95.5
August	Solar: 12	Solar: 353.6	103,032,983
	Biomass: 2	Biomass: 95.5
September	Solar: 12	Solar: 353.6	94,005,710
	Biomass: 2	Biomass: 95.5
October	Solar: 12	Solar: 353.6	90,899,326
	Biomass: 2	Biomass: 95.5
November	Solar: 12	Solar: 353.6	83,817,022
	Biomass: 2	Biomass: 95.5
December*5	Solar: 12	Solar: 353.6	83,985,697
	Biomass: 2	Biomass: 95.5
	Geothermal: 1	Geothermal: 2
January	Solar: 12	Solar: 353.6	85,638,268
	Biomass: 2	Biomass: 95.5
	Geothermal: 1	Geothermal: 2
February	Solar: 12	Solar: 353.6	82,422,628
	Biomass: 2	Biomass: 95.5
	Geothermal: 1	Geothermal: 2
March*6	Solar: 12	Solar: 353.6	144,211,516
	Biomass: 3	Biomass: 170.3
	Geothermal: 1	Geothermal: 2
Full-Year	‒	‒	1,121,525,502
YTD	‒	‒	195,489,734	203,094,786	+3.9%	+0.3%%
Cumulative
					+120.7%

*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. *5 Minami-Aso Yunotani Geothermal power plant to start operation in December 2022.

*6 Tokushima-Tsuda Biomass power plant to start operation in March 2023.

2. Monthly Electricity Sales by Plant

May 2022

										YTD
			Ownership	Purchase Price*7		Generation	Preliminary	Cumulative
	Power Plant			Figures from
			Capacity*1	Figures
		Interest	(per kWh)		Apr. 2022 to
				(MW)	(kWh)
							Mar. 2023
										(kWh)
	Suigo-Itako Solar, Inc.	68.0%	40 yen	15.3	1,903,608	3,598,056
	Futtsu Solar, Inc.	51.0%	40 yen	40.4	4,897,380	9,215,160
	Kikugawa-Ishiyama Solar, Inc.*8	63.0%	40 yen	9.4	1,087,481	2,063,057
	Kikugawa-Horinouchiya Solar, Inc.*8	61.0%	40 yen	7.5	859,681	1,684,519
	Kokonoe Solar T.K.	100.0%	40 yen	25.4	2,902,440	5,777,232
	Nasu-Shiobara Solar T.K.	100.0%	40 yen	26.2	3,090,120	6,000,072
	Ozu Solar T.K.*8	100.0%	36 yen	19.0	2,157,930	4,381,272
	Yokkaichi Solar T.K.*8	20.0%	36 yen	21.6	2,648,128	5,003,180
	Nasu-Karasuyama Solar T.K.*8	100.0%	36 yen	19.2	1,987,200	4,037,328
	Karumai-West Solar T.K.*8	100.0%	36 yen	48.0	6,671,000	12,666,000
	Karumai-East Solar T.K.*8	100.0%	36 yen	80.8	10,609,000	20,467,800
	Karumai-Sonbou T.K.*8	55.0%	36 yen	40.8	6,189,300	11,580,900
	United Renewable Energy Co., Ltd.	35.3%*9		32 yen/24 yen*10	20.5	6,141,290	17,417,710
	Kanda Biomass Energy K.K.	53.07%	24 yen/32 yen*10	75.0	50,695,500	99,202,500
									101,840,058	203,094,786
						Total

*7 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.

*8 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., Karumai-East Solar T.K. and Karumai-Sonbou 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.

*9 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%.

*10 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 May 2022, Each Electric Powers, 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, 2023 was minor, the total amount of power generation loss was 0.091% (Total power generation due to output restriction in May 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	2 days (5 days)	0.003%	(0.012%)
Ozu-machi Solar power plant	2 days (5 days)	0.004%	(0.012%)
Karumai-West Solar power plant	1 days (2 day)	0.014%	(0.025%)
Karumai-East Solar power plant	2 days (2 day)	0.038%	(0.038%)
Karumai Sonbou Solar power plant	0 day (1 day)	-% (0.014%)
Akita Biomass Power Plant	0 day (4 days)	-% (0.012%)
Kanda Biomass Power Plant	9 days (27 days)	0.032% (0.116%)

[For inquiries, please contact] Kenichiro Nose, Investor Relations Tel: [phone]

Email: [e-mail]