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THE LARGEST SOLAR OPPORTUNITY IN ESTONIA

NOVEMBER 2023

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Executive Summary

• Uusnova is a 316-hectare flat land industrial property located in North-East Estonia.

• Uusnova presents a unique and low-cost industrial sized solar project opportunity because it:

• Is located near Estonia’s main power producing thermal plants & their 330 kV grid with sufficient free capacity.

• Has operational substations located the property which allows its easy connection to Estonia’s power grid.

• Has low security costs – the whole area is already under Enefit Power’s fenced and 24-7 guarded zone (restricted

access area).

• Is registered as an industrial land

• Has no communities and no habitants near-by.

• Has plentiful of area available for industrial size solar plant.

• Has its own sand resource that can be used to flatten any areas for better solar panels mounting.

• Has little to no vegetation on it and it is a flat surface area.

• Estonia is a Member of Nord Pool and Estonian electricity tariffs support strong PV project economics.

Uusnova is the largest solar opportunity in Estonia

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Near proximity to national thermal plants allows easy access to

Estonia’s 330 kV power grid

With 316 hectares of available flat land and existing substation connected to national 330 kV power

grid, Uusnova easily allows for an unprecedented size solar power plant in Estonia

Uusnova

• Uusnova is a 316-hectare industrial property which

could accommodate the largest solar plant in

Estonia.

• Uusnova is located next to currently operating

Estonian national thermal power plants.

• Uusnova is registered as an industrial land and it

borders with Enefit Power’s oil shale quarry in the

North.

• Operational NARVA 35/6 substations are located

on the Uusnova property, which allows easy and

low-cost access to Estonian power grid.

• Uusnova property is crossed from north by

L-82:EJO overhead power line and from east Eesti

EJ-Paide and Eesti EJ-Tsirguliina overhead power

lines.

• There are no communities or habitation near

Uusnova.

Source: Elering

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Uusnova is a low start-up cost solar power project

Benefitting from its location, Uusnova will be the securest industrial size PV plant in Europe

UUSNOVA

316 hectares

Substations

• Uusnova property (cadastral ID 22901:006:0019, area 316.38 ha) is located in

North-East Estonia, in Ida-Viru county, Illuka parish, Kuningaküla village.

• East of Uusnova property is the Narva River, which is a state border between Estonia

and Russia.

• North of Uusnova is located the Narva quarry.

• Access to property is in the northern part along the Narva quarry road.

• Since the property is located so close the the national thermal plants, the associated

mining areas and the national & EU border, the area is completely fenced, 24-7 guarded

and has strict access policy.

• Uusnova is mainly covered with low vegetation. There are no forests, lakes or rivers.

• Uusnova has also a mining license for its own sand resource, which can be used to

even the surface for easier solar panel mounting construction.

• Uusnova has already commissioned an ESIA.

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Technical details on the available electrical infrastructure at Uusnova

On-site operational substations and power distribution equipment allows for readily available

low-cost access to Estonian national grid

• On Uusnova property in the North are located Elektrilevi OÜ’s substations and power

distribution equipment:

• NARVA 35/6 M1T (VID code M199729439)

• NARVA 35/6 (VID code K3150569)

• NARVA 35/6 M2T (VID code M199729442)

• In the North are also located:

• Elektrilevi OÜ’s 35-110 kV overhead lines, VID codes:

• KPK236356712

• KPK3135521

• KPK80157029

• KPK80157032

• KPK80157035

• Enefit Kaevandused AS’ 35-110 kV overhead lines, VID codes:

• EE_EJ KPK236356712

• KPK3135521

• KPK80157029

• KPK80157032

• KPK80157035

• Approximately ~40 m and ~97 m East of Uusnova are Elering AS 220-330 kV overhead lines:

• Viru – Paide (VID code L356)

• Viru – Tsirguliina (VID code L353)

Uusnova substations

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Estonia is a member of Nord Pool and its tariffs support strong economics for

solar power generation

Nord Pool and its tariffs support strong economics for solar power generation

Uusnova

Nord Pool Day Ahead Market (2021 to date)

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Estonia has successful industrial size PV projects

The main reason for small solar parks in Estonia is the lack of single large available area.

Uusnova has 316 hectares of industrial flat land with close-by access to national HV grid.

Source: World Bank

Estonia’s photovoltaic potential

Pärnu Solar Plant

3,96 MW

Peetri Solar park

1,14 MW

Kärdla Solar Plant

1,1 MW

Saku Brewery

1,4 MW

Estiko Energia will start

constructing the largest

solar park in the Nordic

and Baltic countries. The

forthcoming solar park in

Raadi, Tartu, will cover 106

hectares and will be able

to supply green electricity

to approximately half of the

households in the City of

Tartu.

100 MWp total capacity

Uusnova

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Uusnova is looking to cooperate with a Solar IPP

Uusnova management has

developed three investment

scenarios for the solar project:

1) Sell Uusnova and retain

minority ownership in the

project with equity

investment.

2) Exit the project completely

by selling the property to

the Solar IPP.

3) Co-develop the solar project

with the Solar IPP and exit

with the project by selling it

to an international green

energy investment fund.

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Uusnova contacts

Christian Kossinov

Senior Advisor

Mobile: +352 621 702 284

E-mail: Christian.Kossinov@AGranite.eu