8minutenergy and Saferay Ink Generation Interconnection Agreement (GIA) with CAISO and PG&E for 90 Megawatts of Solar PV Power

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Leading Solar PV Developers Prepare for Next Phase in Solar Farm's Development

We appreciate the confidence that CAISO and PG&E have demonstrated in 8minutenergy through approving this interconnection agreement, and look forward to further developing this solar project. - Martin Hermann, CEO, 8minutenergy Renewables

8minutenergy Renewables, LLC, and saferay, Inc., today announced the signing of a Generation Interconnection Agreement (GIA) for 90 megawatts-ac (118.3 MW-dc) with the California Independent Systems Operator Corporation (CAISO) and Pacific Gas and Electric Company (PG&E). The 90MW of clean, renewable solar energy is under development at 8minutenergy's Redwood Solar Farm in Kern County, Calif. The transaction was conducted with 61LK 8ME, LLC, a subsidiary of Calif.-based 8minutenergy Renewables, which is the nation's leading independent solar PV developer, and saferay, an independent solar power producer that performs EPC and owns more than 160MW of solar PV around the world. The two companies have a joint development agreement to develop and build the Redwood Solar Farm project.

The awarding of a GIA confirms that 8minutenergy and saferay have successfully completed ISO’s Phase I and Phase II interconnection study processes, and posted the required letters of credits. The Redwood Solar Farm project is sited on 640 acres of low-productivity farmland. Construction is projected to begin in 2014, with the site expected to be operational and delivering renewable energy by mid-2015. The Redwood Solar Farm's annual production capacity of 240 million kilowatt hours (kWh) of electricity will produce enough renewable solar energy to serve 43,000 Californians. This clean solar generation plant will displace the equivalent of approximately 265,000 metric tons of carbon dioxide (CO2) per year, which is equal to the amount that roughly 11 million trees would displace annually.

“This solar project will help bring more clean, renewable energy to Californians,” said California ISO President and CEO Steve Berberich. “This agreement with 8minutenergy furthers our goal of helping California reach its green energy objectives.”

"We are pleased that CAISO and PG&E have approved a GIA for Redwood Solar Farm, which we plan to start building with saferay in 2014," said Martin Hermann, chief executive officer of 8minutenergy Renewables. "We appreciate the confidence that CAISO and PG&E have demonstrated in 8minutenergy through approving this interconnection agreement, and look forward to further developing this solar project."

"We are excited that our project with 8minutenergy has achieved this important milestone," stated Boris Schubert, chief executive officer, saferay, Inc. "saferay is committed to bringing clean energy to Californians, and we look forward to delivering the Redwood Solar Farm together with our local partners."

"The Redwood Solar Farm project will create 225 direct and 450 indirect jobs in the Kern County area during construction, and contribute to the local economy," said Tom Buttgenbach, president of 8minutenergy Renewables. "8minutenergy is committed to bringing jobs to the people of Kern County, which, in July 2013 had an unemployment rate of 11.6% compared to 8.7% for the entire state and 7.6% nationally."

The Redwood Solar Farm will be comprised of state-of-the-art solar photovoltaic modules, related power electronics, and other components including an advanced tracking system that follows the sun to maximize energy production.

About saferay, Inc.
saferay, headquartered in Berlin, Germany, is a leader in the field of efficient and fast implementation of large-scale photovoltaic power plants. As an independent solar power producer saferay builds and finances PV plants primarily for its own asset base in order to shape future energy concepts in the world's leading energy markets. The company's EPC experience includes over 250 MW of installed PV capacity, from which it owns more than 160MW. For more information, visit http://www.saferay.com.

About 8minutenergy Renewables, LLC
8minutenergy develops, finances, engineers, constructs, holds, operates and maintains solar projects. To date, 8minutenergy has closed over $1 billion in solar Power Purchase Agreements; been awarded 325MW in PPAs; secured close to 1,000MW in General Interconnection Agreements (GIA); obtained Conditional Use Permits (CUP) for 7,500 acres; and has 15,000 acres under contract. Most recently, 8minutenergy successfully concluded the development of a 260MW solar plant in Imperial Valley, Calif. - Mount Signal Solar - which is now under construction. It represents the first of three phases of an approximately 800MW-dc (600MW-ac) planned solar PV power project - currently the largest in the world.

8minutenergy's proprietary transmission, land and economic analysis process and tools helps select optimal power plant sites for accelerated permitting with counties and utilities. All 8minutenergy solar projects are located on disturbed, low-value farm land. 8minutenergy strives to ensure that its solar power projects provide low cost, clean renewable energy from the sun with low environmental impacts, particularly when compared with public lands projects on pristine desert wildlands. 8minutenergy has offices in Folsom, Los Angeles, San Francisco, San Diego and El Centro, California. For more information, please call (916) 608-9060, send email to info@8minutenergy.com or visit http://www.8minutenergy.com.

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