• Joint venture to raise funds of up to USD10 million, which NEFIN Group has committed to invest 90%, to develop, construct, and operate renewable energy projects, with capacity of approximately 15MWp, with a focus on solar energy generation, in Singapore and Malaysia

• The Group expects green energy generated from 15MWp solar projects will generate approximately 18,000 MWh per year, the equivalent of powering more than 5,000 three-room flats for an entire year, and reduce approximately 340,000 tonnes of carbon dioxide over project lifespan, equivalent to planting more than 644,000 trees

• Hatten Energy has a current project pipeline of 10MWp, expecting to gain revenue from the supply of clean energy and generation of Renewable Energy Certificates ("RECs")

• Hatten Energy's wholly-owned subsidiary, Hatten Renewable Assets Pte Ltd, signs agreement with Trend Technologies Singapore to construct, operate and maintain a 440.9 kilowatt-peak (kWp) grid-connected rooftop solar PV power system at Trend Technologies' premises located at Tuas, Singapore for a duration of 21 years

SINGAPORE, MELAKA, MALAYSIA - Media OutReach - 16 September 2022 - Hatten Land Limited (惠胜置地有限公司) ("Hatten Land", "Company", and together with its subsidiaries, the "Group") is pleased to share that its wholly-owned subsidiary, Hatten Edge Pte. Ltd. ("Hatten Edge"), has entered into a joint venture agreement with NEFIN Pte. Ltd. to develop, construct, and operate renewable energy projects, with a focus on solar energy generation, in Singapore and Malaysia. NEFIN Pte. Ltd is part of NEFIN Group ("NEFIN Group"), a premium green independent power producer (IPP) offering bespoke carbon neutral technologies & financing solutions in Asia Pacific. NEFIN Group, funded by ACEN Corp., has collectively installed over 3,400 MW 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 conglomerates in Philippines. With its regional and multidisciplinary team, NEFIN Group 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. The team is committed to the global climate goals and aims to accelerate the decarbonisation of our client portfolios. Please refer to NEFIN Group's website www.nefinco.com for more information. Under the joint venture agreement, there is a funding target of USD10 million and NEFIN Group has committed to invest 90% of the USD10 million as well as undertake the primary role of funding, fund raising support and establishing governance controls in relation to projects undertaken by the joint venture. Hatten Edge will take on the primary role of developer, operator, and manager of the renewable energy projects under the joint venture. The USD10 million raised will be invested by the Group to develop, construct, and operate renewable energy projects, with capacity of approximately 15MWp, with a focus on solar energy generation, in Singapore and Malaysia. The Group expects green energy generated from 15MWp solar projects will generate approximately 18,000 MWh per year, the equivalent of powering more than 5,000 three-room flats for an entire year, and reduce approximately 340,000 tonnes of carbon dioxide over project lifespan, equivalent to planting more than 644,000 trees. Since the launch of its strategic pivot in late 2021, the Group has been proactively exploring new renewable energy projects in Singapore and Malaysia. Hatten Energy Holdings Pte. Ltd. ("Hatten Energy") was established as a project development, investment and operation company specializing in renewable energy projects in Asia, with a focus in Singapore and Malaysia. Enabling enterprises to accelerate their transition towards solar energy adoption with no up-front cost, Hatten Energy will design, finance, and install solar PV systems at the premises of business owners while the latter purchases electricity generated from the solar PV system for their own consumption at a rate generally lower than usual rates of electricity distribution providers for an agreed duration under a Power Purchase Agreement ("PPA"). Hatten Energy will own, operate, and maintain the solar PV systems, supplying and selling clean electricity to businesses for a contract period of typically 15 years to 20 years under the PPA. In addition, Hatten Energy can generate RECs from the solar PV systems, thereby creating another revenue and cash flow stream for the business. RECs are market-based instruments substantiating that electricity has been generated from renewable energy sources. Hatten Energy has a current project pipeline of 10MWp. Mr. Chong Bor Hung, NEFIN Group's Head of Business Development and Managing Director (Malaysia), added: "NEFIN is determined to expand...