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A collaboration between Akhtar Group, Ismail Industries Ltd. and Tapal Group. 1

Company Management The Company is currently managed by Mustafa Tapal (Tapal Group), Asad Iqbal (Ismail Group), Adnaan Tapal (Tapal Group) and Khurshid Akhtar (Akhtar Group).

Akhtar Group The Group was founded by Mr. Akhtar Saeed Sheikh in 1968. With an annual turnover of more than US$125 million, it is one of the leading business conglomerates in Pakistan. The Group is engaged in a diverse range of businesses, dealing in Paper Cones, Textile Machinery, Textile Garments, Sugar Mill Equipment, Auto/Steel Industry Marketing, Dairy farming, Denim, Jeans and other Garment production. The group is particularly known for Akhtar Textile, Indigo textile, and Dayfresh milk, one of the most popular products of Dairyland.

Ismail Industries Ismail Industries Limited is a publicly listed company. It is one of the prominent local players and has extensive visibility in exporting regions as well. It is principally engaged in the manufacturing of a wide range of confectionery, biscuits, snacks and packaging films. It exports its products to 40+ countries around the globe. The company operates under the brand names of Candyland, Bisconni, SnackCity and Astro Films respectively. The Company is keen and committed to play its role in the development of the Power Sector in Pakistan and is a shareholder in a number of renewable energy projects.

Tapal Group Tapal Group is one of Pakistan’s leading business groups with a diversified portfolio and investments in Industrial Engineering and Construction, fertilizers and the Power sector. The group has been in existence since 1867. The group owns and operates Tapal Energy (Pvt.) Ltd., a thermal power project with an installed capacity of 126 MW. The total output of the plant is supplied and purchased by Karachi Electric. The project achieved COD in 1997. In the wind power sector, the group setup Green Power (Private) Limited (now known as Foundation Wind Energy II Limited,) in 2006, marked as one of the pioneers in local wind sector. The project achieved its Commercial Operation Date (COD) in December 2014.

ACT Group Projects ACT Group is principally engaged in diverse business of Wind and Solar Power, Rice Processing Mill and ACT Engineering Services. The Group Projects are operational under the name of Act Wind, Act 2 Wind, Act Solar, Act 2 Solar, Act Polyols and Act Engineering Services (ACTES)

ACT Wind’s 30MW wind power project is situated in Jhimpir, Sindh. • First joint project of ACT Group developed under Federal LOI. • HydroChina was Engineering, Procurement & Construction (EPC) and Operations & Maintenance (O&M) Supplier. • Turbines have been supplied by Goldwind from China. • The project has achieved Commercial Operation in October 2016. It has been generating and transmitting electricity to the National Grid since. 2011 2013 Financial Close 2016 LOI Issuance COD Applied for Letter 2013 Feed-In Tarriff 2015 of Intent (LOI)

ACT Wind was developed under the Upfront Tariff Regime announced by the National Electric Power and Regulatory Authority (NEPRA) in 2011. In order to select and finalize the EPC and O&M ACT Wind achieved its COD in October 2016. Contractor, ACT Wind issued a Request for Till date, the project has performed up to the Proposal in May 2012. After thorough mark without any delays and distortions. assessment, the Sponsors shortlisted HydroChina Corporation as the preferred The consistent performance of the project can Engineering Procurement & Construction (EPC) be attributed to the presence of world- and Operations & Maintenance (O&M) renowned EPC and WTG partners along with Contractor with Goldwind as the Wing Turbine extensive experience of Sponsors in the Generator (WTG) supplier. relevant field.

2011 Applied for Letter of Intent (LOI) Capacity 30 MW Technology LOI Issuance 2013 Plant Configuration Wind Project Location 2013 Feed-In Tarriff Financial Close Date 12 Turbines of 2.5 MW each COD Financial Close 2015 Power Purchase Jhimpir, Sindh 2016 COD Applicable GOP Policy March, 2015 October, 2016 National Transmission & Dispatch Company (NTDC) Policy for Development of Renewable Energy for Power Generation, 2006

ACT Group is pursuing development of a 50 MW wind power project in order to assist Pakistan overcome its current energy crises. • The Project Cost for ACT 2 is expected at USD 62.9 Million, out of which Project EPC cost is USD 57 Million. • The project cost for ACT 2 is derived from the recently issued benchmark tariff by National Electric Power Regulatory Authority (NEPRA) which stands at US Cents 4.7212 (Equivalent PKR 5.6655) • The COD for the project is expected in 2Q 2021.

Capacity 50 MW 2015 The Letter of intent was issued Technology Wind by Energy Department, Project Cost (USD) The Geotech study was Government of Sindh. Capacity Factor 62.9 Million conducted in March 2016 and Annual Generation 38% Topography study was done in 2016 Debt to Equity Ratio 162,498,000 December 2015. Grid Interconnection study was Concession Period completed in December 2016. Financing Tenure 80:20 2016 Preferred EPC and O&M 25 Years 2018 Contractor 10 Years The project received generation Preferred WTG Supplier HydroChina license in April 2017 while Tariff The EPC Contract was awarded Corporation was issued in November 2018. in April 2019. Goldwind 2019 The Financial close is expected 2019 in 2019. 2021 The COD for the project is expected in 2Q 2021.

ACT Solar is formed to establish a 2 X 50MW solar power project in Sindh. The Letter of Intent was issued. Current Project Status of the Project: Awaiting LOS Land for the project is situated between the two Wind Power projects in Jhimpir.

ACT Polyols (Pvt) Limited was formed in 2017 to setup a new plant for production of rice syrup, sorbitol (with protein as a by-product) and maltodextrin from broken rice. The project is to setup a 100 tons per day (tpd) Rice processing mill. Out of which 47 tpd of rice syrup would be exported. Furthermore, 44 tpd Sorbitol would be utilized in local sale. The total project cost is anticipated at USD 22 Million with 70%: 30% Equity: Debt ratio. The project company has achieved Financial Close (FC) in February 2019. Construction of the project has commenced and Commercial Operations is expected in December 2020.

ACT Engineering Services was established in January 2018 by the ACT Group. The company is PEC certified and has registered itself as an AEDB approved Vendor for net metering solutions. Working in collaboration with Trina Solar, ACTES provides standardized solutions. The Project also offers on grid solutions with the option of net metering along with O&M services. It has installed 2.8MW in Pakistan since its establishment in 2018. The business currently has over 10MW of pipeline projects till the end of 2020.

ACTES O&M solutions for Services new & installed Solar Projects Solar On-grid Solar Water with Net Pumping Metering Solutions Solution Solar PV Solution integrated with Gensets for industries

ACTES also provides a joint venture EPC between ACT Group and Trina Solar for projects. Trina Solar is a global leading solar products and solutions provider.

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