PureGen Power Announces Acquisition of Operating Solar Power Plant

PureGen
Power, LLC, a clean energy asset ownership company, today announced
the acquisition of a 1.16MW solar power plant in Visalia, California –
the first of several planned for the company’s inaugural investment
fund, PureGen Solar One.

Commissioned in 2009, the Visalia power plant consists of 5,500 solar PV
modules ground mounted on a single-axis tracking system with energy
provided to the commercial site host.

The transaction took seven weeks to complete from term sheet to final
documents, demonstrating PureGen Power’s commitment to a highly
efficient due diligence and transaction process. By capitalizing on its
technical and financial expertise, the company also aims to close all
future acquisitions in 60 days or less, even when executing complex
transactions.

“A year ago, we embarked on a plan to build a portfolio of operating
solar power plants to advance our vision of a clean energy future. This
acquisition takes an important step toward realizing that goal,” said
David Brochu, CEO, PureGen Power. “Our unique model allows us to deliver
real value to owners who want to monetize operating plants and reinvest
that value into new opportunities.”

Leveraging strategic vision, a deep knowledge of technology and decades
of experience in the solar energy industry, PureGen Power is actively
seeking to acquire operating solar power plants of all sizes, ages, and
operating performance.

Mitchell Randall, PureGen Power President and Chief Legal Officer said,
“We focus on providing good value for assets in their current condition,
using a low-burden, low-risk transaction process. This includes
reasonable, streamlined terms that reduce internal resource needs and
support closing quickly. Owners have responded very positively to our
approach, and we’re excited to have a robust pipeline of future
transactions.”

For more information about PureGen Power, please visit www.puregenpower.com.

About PureGen Power:

PureGen Power acquires operating solar and other clean energy power
plants by partnering with owners to execute streamlined transactions
that monetize long-term project value today. The company applies its
extensive industry expertise to optimize performance of clean energy
power plants and creatively solve financing, technical and operating
challenges. PureGen Power’s mission is to accelerate the transition to
clean energy and protect precious natural resources for future
generations. For more information, visit www.puregenpower.com.

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