CURRENT PROJECTS

BNRG has active projects in the United Kingdom, Bulgaria and Greece and is involved in all stages of the PV project development and construction process:

WHAT WE DO

Feasibility and Planning: BNRG continually researches local markets and rules, identifying strategic partners (where appropriate), sourcing sites and grid access, progressing projects through licensing and permitting procedures. BNRG has had notable success through the permitting stages of multiple projects across a number of territories in Europe.

Technical: BNRG is active in technology selection, system design, identifying EPC contractors and contract negotiation.

Financial: BNRG works with funding partners to structure equity and debt finance.

Construction: BNRG continually supervises system construction and implementation.

Plant Operation: BNRG is engaged in the supervision of operations, maintenance, site security and administration.

BNRG will hold the long term Operations and Maintenance (O&M) and Administration Contracts for most of the projects it develops.

ACTIVE TERRITORIES

United Kingdom

BNRG Element Power Ltd. is a JV between BNRG (50%) and Element Power Ltd, part of the Hudson Clean Energy Group (50%), and has built up a significant development pipeline across the UK. These projects are at various stages of the development process.

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In April 2010 the UK launched an attractive PV FIT package, index-linked and payable for 25 years. The southwest of England (Cornwall, Devon, Somerset and Dorset) has medium level of solar radiation, allowing attractive returns for both developers and long term investors. Planning procedures though strict, are honest, transparent and relatively streamlined. The recent reduction in the PV FIT package announced in June 2011and again in November 2011 has meant that only a part of the portfolio is likely to be built in 2012. To date the company has completed the construstuction of 6MW over two projects. Those projects have been genereting electricity since August 2011

BNRG Element Power Ltd. has a strong commitment to the British economy. It currently engages an UK project design and planning team and will use British contractors, materials and workers, whenever possible, in the construction of its solar parks and in their long term security and maintenance.

Our First PV Plant in Somerset, UK

Bulgaria

Bulgaria has one of the most attractive PV feed-in tariff (FIT) programmes in Europe over a 20 year period. BNRG Bulgaria is a joint venture between BNRG Renewables Ltd and the Plovdiv-based partner Konstantin Panayotov. BNRG Bulgaria has approximately 26ha of land in the Bourgas prefecture with permits to develop 14MW of solar PV. The first 6MW is construction ready, with the balance to follow throughout the Q3 of 2011. With the recent FIT announcements in June 2011 and November 2011there is clarity in the Bulgarian market and the company is in the process of assembling a significant further pipeline of PV projects in Bulgaria.

Greece

BNRG will be expanding its activities in Greece during the coming months in conjunction with the Greek partners. The company currently holds a number of small projects on the islands of Crete and Rhodes. BNRG has been operating in Greece for nearly four years and has successfully taken 30 projects through the licensing system. The first projects have been implemented and are generating electricity. Greece is the most profitable PV regime in Europe, with high FIT over a 20 year period and high solar radiation.

Romania

BNRG is building a team to acquire and develop PV sites in Romania where the new Renewable Energy Law has made solar energy generation commercially attractive. Unlike other territories Romania uses Tradable Green Certificates to subsidise renewable energy. BNRG has commenced the process of identifying a number of PV sites in the territory.

OTHER TERRITORIES

Over the next two years opportunities will arise in the less developed countries where solar radiation values are very high and the existing electricity supply structure is overstretched. One example is Kenya where the solar radiation levels are about twice as high as those in southern England or Germany and where the FIT of $0.21/kwh is getting close to the level where investment funds will support projects. BNRG has agreed terms with a local development partner in Kenya.