Acquisition of Shares of Three Companies including Jenex as Wholly Owned Subsidiaries

In order to further promote the development of solar power stations, Chubu Electric Power decided to make Jenex, Inc., Jenex Partners, Inc. and Japan Energy Next Corporation ("Jenex Group") its wholly owned subsidiaries, and on November 22, concluded a share purchase agreement to acquire all outstanding shares of Jenex Group.
This is the first time that Chubu Electric Power has acquired a wholly owned subsidiary engaged primarily in solar power generation business.

Jenex Group is involved in the development, operation, maintenance, and management of solar power plants, and owns approximately 200 solar power plants (total power output: 60,000 kW) mainly in five prefectures of the Chubu area. Jenex Group plans to further develop approximately 200 new sites (total power generation output: approx. 82,000 kW) in the future, demonstrating its high project development capabilities.

Chubu Electric Power Group will accelerate the development of new solar power stations with the acquisition of Jenex Group as a wholly owned subsidiary, and utilize the developed power sources for off-site PPA (Note) services provided by retail electric power companies, thereby meeting the growing needs of customers for non-fossil values.

(Note) Abbreviation for Power Purchase Agreement. Off-site PPA is a contract method in which renewable energy power source is supplied to customers from a dedicated power plant located off-site at the demand site.

[Reference] Overview of Jenex Group