NEFIN Group Signs Binding Agreement With Solarlink For Large Scale Solar Development Project In Taiwan

The joint venture project’s success will mark a significant step for Taiwan to meet their renewable energy goals

TAIPEI, TAIWAN - Media OutReach - 19 July 2022 - NEFIN Group ("NEFIN"), Asia's leading carbon neutrality solutions provider and investor, has signed a binding agreement with their business partner, Solarlink Energy Co., Ltd. ("Solarlink"), to cooperate on a large-scale solar development project in Taixi, Yunlin of Taiwan.

The National Development Council ("NDC") of Taiwan unveiled a road map in late March 2022 for Taiwan's push to become "carbon neutral," with sources of renewable energy to account for at least 60% of the nation's energy mix (with nuclear power excluded). According to NDC Minister Kung Ming-hsin, Taiwan is capable of increasing electricity supply by 2% each year, sufficient for companies to expand their operations. NDC also revealed that heavy users of electricity, such as Taiwan Semiconductor Manufacturing Co., have inked deals to buy green energy to be developed by local suppliers for the next 20 years. The strong partnership between NEFIN and Solarlink will essentially help the Taiwan government to achieve its sustainability goals.

"Solarlink's solar development experience and strong local relationships will be crucial for this project's success," said Mr. Ken Ng, CIO of NEFIN Group. "By combining Solarlink's strengths with NEFIN's financial backing and solar technical capabilities, we have created a potent combination that has the potential to be a very strong player in the area."

With the strategic substation land asset with up to 500MW substation capacity and the financial backing from NEFIN, the project is well-positioned to realize the Government's vision to make Taixi one of the leading centres for solar generation in Taiwan. It will also provide stable rental income for landowners and create construction and O&M jobs for the local community. Meanwhile, solar expertise in the region will be groomed for more long-term development. Another benefit to be brought along by the project is continual support to local community projects, especially to elderly welfare.

With strong support from the local community, this project will be developed in partnership with local and government stakeholders as a collaborative effort to realise Taiwan's renewable energy goals. "Both the teams at NEFIN and Solarlink are looking forward to developing this meaningful project," said Mr. Roger Hsu, Executive VP of Solarlink Energy Co., Ltd. "Together with key stakeholders, we will make a collaborative effort to leave a lasting positive impact on the local economy and community."

Mr. Sam Lee, Deputy MD of NEFIN Taiwan, said "Following the latest policies advocated by Yunlin province and Taiwan government, NEFIN is going to partner with Solarlink and farmers in Taixi to develop a large-scale solar system with an aim to foster growth of green energy usage and local prosperity."

NEFIN, along with its shareholder AC Energy Corporation (ACEN), have collectively developed over 3000MW of utility-scale, commercial, and industrial rooftop solar systems and renewable energy projects in its combined portfolio globally with 8 years of strong track records. Being a one-stop turnkey provider to multinational corporations across its renewable energy portfolio, NEFIN simplifies the process of going green.
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About NEFIN Group

NEFIN is a premium green independent power producer (IPP) offering bespoke carbon neutral technologies & financing solutions in Asia Pacific. NEFIN, funded by AC Energy Corporation ("ACEN"), has collectively installed over 3,000MW of utility-scale, commercial and industrial renewable energy systems. ACEN is listed in the Philippines (PSE: ACEN) and is part of the Ayala Corporation, one of the largest and oldest conglomerates in Philippines, founded by the Ayala family in 1834. With its regional and multidisciplinary team, NEFIN offers comprehensive assessments and a full-suite of services to evaluate the ESG impact and commercial viability of projects through innovative approaches to technology under its unified energy management platform.

With a mission of "Achieving Carbon Neutrality for You", NEFIN is committed to the global climate goals and aims to accelerate the decarbonisation of our client portfolios. NEFIN believes the future of the world is everyone's responsibility and strives to redefine energy boundaries towards a sustainable future. Please refer to NEFIN's website www.nefinco.com for more information and follow us at https://www.linkedin.com/company/nefin/.

About Solarlink Energy Co., Ltd.

Founded in 2006, Solarlink focuses on environmental energy development, recycle and production of solar silicon materials, with a goal to become a leading provider in Taiwan. Besides manufacturing, Solarlink has started solar plant design and construction business in 2012. By 2013, Solarlink has developed its first solar plant project in Hyogo Prefecture of Japan. Currently, Solarlink builds and operates power plants at Taichung region and solar businesses at its origin, Yunlin. In 2018, when the Executive Yuan announced 2019 being the first year for Regional Revitalization, Solarlink started to dive deep into the core values and principles of Regional Revitalization. Fishery and electricity symbiosis, social well-being and youth returning to hometown and related behavioural changes are planned and executed thoroughly, with an aim to achieve sustainable prosperity for the Yunlin and Coast Line regions.