1. ABOUT RECURRENT ENERGY Company Introduction COMPANY INTRODUCTION & PROJECT HIGHLIGHTS Corporate Overview January 2011

2. ABOUT RECURRENT ENERGY Company Introduction RECURRENT ENERGY: BUSINESS OVERVIEW A leading global solar project developer helping our world find a more sustainable way to meet its energy needs 2 GW project pipeline and 400MW portfolio of signed contracts makes us the third largest PV developer in North America Seasoned leadership team with expertise in the conventional and renewable power business As the primary development group for Sharp Corporation worldwide, we are a strong partner for utilities and large energy buyers Strong technology and supply chain capabilities enable us to deliver solar generating plants at market-leading cost 75MW on the construction calendar for 2011 plus the ability to deliver solar almost anywhere in the world Proven access to capital through a global network of financial partners that enables us to deliver solar at any scale 2

3. ABOUT RECURRENT ENERGY Company Introduction 2 GW GLOBAL DEVELOPMENT PIPELINE Germany Spain France Ontario United States Israel 3

4. ABOUT RECURRENT ENERGY Company Introduction STRATEGIC POSITION IN NORTH AMERICA Market Segment Central Scale Contracted Portfolio Size ResidentialCommercialDistributed Small Large Wholesale/UtilityRetail 4

5. ABOUT RECURRENT ENERGY Company Introduction VISION: A FLEET OF SOLAR GENERATING ASSETS Recurrent Energy develops, builds, and operates distributed and central scale solar power systems. We sell clean electricity to utilities and large energy users at competitive prices via Power Purchase Agreements and Feed-in Tariffs. GenerationTransmission SubstationDistribution Consumption Electricity Grid GroundGround and RooftopPrimarily Rooftop 5-20 MW Utility Offtaker 2-8 MW Utility Offtaker 1-3 MW Residential + C&I Ground 40+ MW Utility Offtaker Central ScaleWholesale Distributed GenerationRetailMarkets 5

6. ABOUT RECURRENT ENERGY Company Introduction MANAGEMENT & FINANCE TEAM Pat Caramante VP, Engineering & Construction FirstWind, Garrad Hassan America, FPL Energy, General Electric, Con Edison NY, EBASCO, ABB Arno Harris CEO Energy Innovations, Prevalent Power, WineShopper, RedEnvelope, Novo Media Group Judith Hall SVP, General Counsel Babcock & Brown, Southern California Edison, Pacific Gas & Electric, Electric Power Research Institute Sheldon Kimber SVP, Development Goldman Sachs, Calpine Corporation, Accenture Karl Knight MD, International Development Regenesis Power, GCA Savvian, Credit Suisse First Boston, DLJ Fredrick Vaske VP, Project Finance SunPower Corporation, GATX Capital, USL Capital, D’Accord Financial Services Tiffany Elliott VP, Origination and Structuring Amerex Energy Consulting, Citigroup Energy, Calpine Energy Services Michael Metzner CFO FirstWind, Exelon, Atlantic Richfield Corporation Steve Finno VP, Corporate Finance Babcock & Brown, GATX Capital, Itel Corporation  solar power  project finance  power marketing  site acquisition  development  engineering  construction  operations 6

7. ABOUT RECURRENT ENERGY Company Introduction RECURRENT ENERGY & SHARP CORPORATION Fall 2010: Recurrent Energy and Sharp Corporation announced the acquisition of Recurrent Energy by Sharp Vision: Create a top global solar developer and generating company, leading the way in a historic transition to renewable power. Focus: Recurrent Energy is the primary development company for Sharp Corporation worldwide. Strength: A combined global network of finance, EPC, and technology partners to deliver solar at any scale. 7

8. ABOUT RECURRENT ENERGY Company Introduction PROJECTS & PIPELINE

9. 2 GW GLOBAL DEVELOPMENT PIPELINE Germany Spain France Ontario United States Israel 9

10. ABOUT RECURRENT ENERGY Company Introduction PPA & FIT PROJECT HIGHLIGHTS Operating Projects Spanish Rooftop5 MW, FiTOperatingSpanish feed-in tariff. Summer 2010 COD. SFPUC/Sunset Reservoir5 MW, PPAOperating25-year PPA with SFPUC. Fall 2010 COD. Kaiser Permanente15 MW, PPAOperating/Final COD ‘1116 projects spread across 15 Kaiser sites. Contracted Projects SW Utility Solar Farms22 MW, PPACOD 2011-2012PPAs signed, construction under way. Ontario Solar Farms170 MW, FiTCOD 2012-201419 projects spread across southeastern Ontario. SCE Solar Farms80 MW, PPACOD 2012-20135 PPAs in total; projects spread across central/southern CA. SMUD Solar Farms77 MW, PPACOD 2012Multiple projects in Sacramento, CA area. PJM Rooftop6 MW, WholesaleCOD 2011Rooftop solar project in PJM service territory. 370+ MW Contracted, Operating, or in Construction 10

11. 170+ MWdc Ontario Power Authority FiT 19 Projects in Total All Ground-Mount Solar 2012-2014 CODs 170 MW OF SOLAR FARMS IN ONTARIO 11

12. 22 MWdc, 2 Projects Utility Offtaker Construction Under Way 2011-2012 CODs 22 MW OF SOUTHWEST SOLAR FARMS 12

13. 80 MWdc, Multiple Projects ~71,000 PV Modules Tracker System Part of 80 MW of Signed PPAs 2012 COD 22 MW OF 80 MW: SOUTHERN CALIFORNIA EDISON 13

14. 5 MWdc ~24,000 PV Modules Above Water Reservoir Among Largest of Kind Currently Operating 5 MW SUNSET RESERVOIR PROJECT 14

15. 4.8 MW PROLOGIS ROOFTOP PROJECTS IN SPAIN 4.8 MWdc Rooftop PV Building Integrated Solution Power Sale via Spanish FIT Roofs Rented from ProLogis Currently Operating 15

16. 15 MWdc, Multiple Projects Rooftop, Ground, ES Sites throughout CA 2010-2011 CODs 15 MW: KAISER PERMANENTE 16

17. ABOUT RECURRENT ENERGY Company Introduction Michael Metzner CFO Recurrent Energy (p)415.501.9415 (f) 415.675.1501 (e)michael.metzner@recurrentenergy.com PROJECT FINANCE CONTACTS Fred Vaske VP Project Finance Recurrent Energy (p)415.501.9410 (f)415.675.1501 (e)fred.vaske@recurrentenergy.com 17