This joint project development agreement




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2.3Roles and Responsibilities of Evolution Energy LTD of volution Energy LTD



Evolution Energy LTD, as co-developer, shall assume responsibility for, and will make best efforts to complete the following tasks during the Development Phase of each Project:



  • Create with SOLENA and incorporate an SPE that will build, own, and operate each Bio-power or Bio-fuel project.



  • Provide and/or identify the site for the Project.



  • On behalf of SPE, obtain a specialist company to carry out any geological and land studies and surveys to ensure the suitability of the Site for the Project.


  • On behalf of SPE, obtain all the required Permits from appropriate governmental bodies to include all necessary consents, licenses, and permits for the construction, commissioning, and operations of each Bio-Energy project, as well as obtain a power purchase agreement from the local utility, at a renewable energy wholesale price, and a contract to sell if applicable any Bio-fuel produced in the project.


  • Assist SOLENA/SPE in all arrangements regarding local public relations.



  • Support and provide assistance and access to SOLENA/SPE regarding any pre-construction Site investigations (other than the geological and land studies and surveys), identification of and negotiations with feedstock suppliers, vendors, sub-contractors and EPC contractors to deliver the Project


  • With the assistance of SOLENA, lead negotiations with other potential investors, financiers, and financial institutions on the terms and structure of financing for the Project(s).

  • Negotiate, on behalf of the SPE, any other Operative Agreements as may be required in order to take the Project(s) to Financial Close.

  • Evolution Energy LTD shall, on behalf of the SPE, conduct the negotiation of the EPC Contracts and O&M Contracts, as appropriate to reach financial close, with the qualified EPC and O&M Companies selected by SOLENA.

2.4Roles and Responsibilities of SOLENA

SOLENA shall assume responsibility for the completion of the following tasks during the Development Phase of the Project(s):

  • Under contract with the SPE, SOLENA shall complete a Conceptual Design and Financial Analysis Study (“CDFAS”) of each Project. The CDFAS shall establish a conceptual design of the Plant(s) from an agreed upon design basis, determine the production output resulting from such design basis, provide a first estimate and analyze the feasibility thresholds of the Project(s) in terms of minimum fuel offtake price, minimum power sales price, minimum tipping fee/maximum feedstock price, etc., amongst other output information.

  • From the results of the CDFAS, SOLENA shall provide data, information, and technical assistance to Evolution Energy LTD for the purpose of facilitating the permitting process; and, if required, facilitating the execution of an Environmental Impact Assessment of the Project by a specialist company.

  • Under contract with the SPE, SOLENA shall carry out the Front End Engineering Design (“FEED”) work for the Bio-power projects, to be primarily executed by qualified Engineering Companies selected by ^ SOLENA. SOLENA will directly carry-out the FEED work corresponding to the Gasification Island. Completion of the FEED should provide the necessary data to finish processing all environmental and construction permits, and will provide a more accurate estimate of the capital expenditure and operating and maintenance costs of the projects, enough to negotiate a conditional EPC Contract offer from qualified EPC Companies.

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