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SHARP BUILDS MEGA SOLAR PLANT NEAR NEW ULAANBAATAR INTERNATIONAL AIRPORT, MONGOLIA

Sharp Energy Solutions Corporation (SESJ)*¹ announces the completion of a mega solar power plant in Khushight Khundii, Sergelen district, Tuv province, Mongolia with partners including renewable energy company Sermsang Power Corporation*² and Tenuun Gerel Construction LLC*³.

The power plant is located approximately 14 km southwest of the New Ulaanbaatar International Airport, which is currently under construction. Plans are to supply the electricity generated by the power plant to the central grid system which connected also capital of Ulaanbaatar and the new airport. In general, the longer the distance between a power plant and the facilities it is supplying, the greater the electricity loss. However, this new power plant will be able to efficiently supply electricity to the new airport and urban parts of Ulaanbaatar, areas predicted to see rising electricity consumption.

This power plant was constructed after selection as one of the Joint Crediting Mechanism (JCM) Model Projects*4 financially supported by the Ministry of the Environment, Japan.

The project is implementing under the cooperation between the Government of Mongolia and Japan. The 16.4 MW-dc solar power plant will generate 23,134 MWh per year, thus allowing reduction of greenhouse gas (GHG) emissions of 18,438 t-CO2 per year.

Mongolia's government aims to have renewable energy account for 30% of the country's energy mix by 2030, representing a 14% drop in greenhouse gas emissions compared to a BAU*5 scenario. Sharp remains committed to spreading the use of renewable energy in Mongolia.

*¹ SESJ is a subsidiary of Sharp Corporation, specializing in energy solutions such as the sales of PV systems and the installation of electrical equipment.

Headquarters: Yao, Osaka Prefecture; President: Hiroshi Sasaoka

*² Sermsang Power Corporation invests, develops, and operates renewable energy projects currently in Thailand, Japan, Mongolia, Vietnam, with over 200 equity MW.

Headquarters: Bangkok, Thailand; CEO: Varut Tummavaranukub

*³ Tenuun Gerel Construction's main business is developing and operating solar power plants.

Headquarters: Ulaanbaatar, Mongolia; Representative: Odbaatar Sukhbaatar

*⁴ Ministry of the Environment, Japan has been implementing the "JCM Model Projects," which provides financial supports covering up to half of the initial investment costs. The purpose of this model projects is to financially support the implementation of projects which reduce GHG emissions by utilizing leading low carbon technologies in developing countries, and in return, to acquire JCM credits for achievement of Japan's GHG emission reduction and the partner countries emission reduction target.

*⁵ BAU (business as usual) means projections of greenhouse gas emissions based on the energy mix up to the present.