for the 15th FP Asset Management Report

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Portfolio

Portfolio Highlight

As of December 31, 2024

  • # of Projects
    32 projects
  • Total acquisition price (Note) as of the end of 15th FP
    ¥ 97.3 Bn
  • Panel output of AUM
    227.6 MW
  • Total valuation price(Note) as of the end of 15th FP
    ¥ 85.5 Bn

(Note):The term “total acquisition price” total of the represents transaction price (excluding remuneration for business outsourcing concerning the acquisition of assets and other acquisition costs, property taxes, city planning taxes, amount equivalent to consumption taxes, etc. and other commissions, etc.) specified in the sales agreement for each asset held.

Total Energy Output for the Period

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Historical Portfolio Diversification (panel output basis)

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Remaining FIT period of CSIF portfolio (panel output basis)

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Historical valuation and book value (after depreciation)

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Portfolio OverviewAs of December 31, 2024

S-01

CS Shibushi-shi PP

S-02

CS Isa-shi PP

S-03

CS Kasama-shi PP

S-04

CS Isa-shi Dai-ni PP

S-05

CS Yusui-cho PP

S-06

CS Isa-shi Dai-san PP

S-07

CS Kasama-shi Dai-ni PP

S-08

CS Hiji-machi PP

S-09

CS Ashikita-machi PP

S-10

CS Minamishimabara-shi PP（East & West）

S-11

CS Minano-machi PP

S-12

CS Kannami-cho PP

S-13

CS Mashiki-machi PP

S-14

CS Koriyama-shi PP

S-15

CS Tsuyama-shi PP

S-16

CS Ena-shi PP

S-17

CS Daisen-cho PP (A)(B)

S-18

CS Takayama-shi PP

S-19

CS Misato-machi PP

S-20

CS Marumori-machi PP

S-21

CS Izu-shi PP

S-22

CS Ishikari Shinshinotsu-mura PP

S-23

CS Osaki-shi Kejonuma PP

S-24

CS Hiji-machi Dai-ni Power Plant

S-25

CS Ogawara-machi Power Plant

S-26

CS Fukuyama-shi Power Plant

S-27

CS Shichikashuku-machi Power Plant

S-28

CS Kama-shi Power Plant

S-29

CS Miyako-machi Saigawa Power Plant

S-30

CS Kasama-shi Dai-san Power Plant

S-31

CS Yamaguchi-shi Power Plant

S-32

CS Sakura-shi Power Plant

List of Power Plant Assets

No. Project name Location Acquisition
Price
(million yen)		 Valuation Price
(Note)
(million yen)		 Portfolio
(%)		 Panel
Output
(kW)		 FIT
Price
(yen)		 Electric
Power
service
area		 Curtailment
rules		 Online
curtailment
system
status
S-01 CS Shibushi-shi Power Plant Shibushi-shi, Kagoshima 540 403 0.5 1,224.00 40 Kyushu 30-day rule ○
S-02 CS Isa-shi Power Plant Isa-shi, Kagoshima 372 260 0.3 931.77 40 Kyushu 30-day rule ○
S-03 CS Kasama-shi Power Plant Kasama-shi, Ibaraki 907 756 0.9 2,127.84 40 Tokyo 30-day rule  
S-04 CS Isa-shi Dai-ni Power Plant Isa-shi, Kagoshima 778 538 0.7 2,013.99 36 Kyushu 30-day rule ○
S-05 CS Yusui-cho Power Plant Aira-gun, Kagoshima 670 465 0.6 1,749.30 36 Kyushu 30-day rule ○
S-06 CS Isa-shi Dai-san Power Plant Isa-shi, Kagoshima 949 675 0.8 2,225.08 40 Kyushu 30-day rule ○
S-07 CS Kasama-shi Dai-ni Power Plant Kasama-shi, Ibaraki 850 647 0.8 2,103.75 40 Tokyo 30-day rule  
S-08 CS Hiji-machi Power Plant Hayami-gun, Oita 1,029 729 0.9 2,574.99 36 Kyushu 30-day rule ○
S-09 CS Ashikita-machi Power Plant Ashikita-gun, Kumamoto 989 714 0.9 2,347.80 40 Kyushu 30-day rule ○
S-10 CS Minamishimabara-shi Power Plant (East & West) Shimabara-shi, Nagasaki 1,733 1,327 1.6 3,928.86 40 Kyushu 30-day rule ○
S-11 CS Minano-machi Power Plant Chichibu-gun, Saitama 1,018 849 1.0 2,448.60 32 Tokyo 30-day rule  
S-12 CS Kannami-cho Power Plant Tagata-gun, Shizuoka 514 421 0.5 1,336.32 36 Tokyo 30-day rule  
S-13 CS Mashiki-machi Power Plant Kamimashiki-gun, Kumamoto 19,751 16,921 20.3 47,692.62 36 Kyushu 30-day rule ○
S-14 CS Koriyama-shi Power Plant Koriyama-shi, Fukushima 246 184 0.2 636.00 32 Tohoku 30-day rule  
S-15 CS Tsuyama-shi Power Plant Tsuyama-shi, Okayama 746 574 0.7 1,930.50 32 Chugoku 30-day rule ○
S-16 CS Ena-shi Power Plant Ena-shi, Gifu 757 628 0.7 2,124.20 32 Chubu 360-hour rule ○
S-17 CS Daisen-cho Power Plant (A)(B) Saihaku-gun, Tottori 10,447 8,148 9.8 27,302.40 40 Chugoku 30-day rule ○
S-18 CS Takayama-shi Power Plant Takayama-shi, Gifu 326 259 0.3 962.28 32 Chubu 360-hour rule ○
S-19 CS Misato-machi Power Plant Kodama-gun, Saitama 470 368 0.4 1,082.88 32 Tokyo 30-day rule  
S-20 CS Marumori-machi Power Plant Igu-gun, Miyagi 850 641 0.8 2,194.50 36 Tohoku Unlimited and Uncompensated rule ○
S-21 CS Izu-shi Power Plant Izu-shi, Shizuoka 4,569 3,829 4.5 10,776.80 36 Tokyo 30-day rule 16th FP
(Scheduled)
S-22 CS Ishikari Shinshinotsu-mura Power Plant Ishikari-gun, Hokkaido 680 505 0.6 2,384.64 24 Hokkaido Unlimited and Uncompensated rule ○
S-23 CS Osaki-shi Kejonuma Power Plant Osaki-shi, Miyagi 208 161 0.2 954.99 21 Tohoku Unlimited and Uncompensated rule ○
S-24 CS Hiji-machi Dai-ni Power Plant Hayami-gun, Oita 27,851 25,391 29.5 53,403.66 40 Kyushu 30-day rule ○
S-25 CS Ogawara-machi Power Plant Shibata-gun, Miyagi 2,745 2,481 2.9 7,515.35 32 Tohoku Unlimited and Uncompensated rule ○
S-26 CS Fukuyama-shi Power Plant Fukuyama-shi, Hiroshima 1,340 1,320 1.5 3,316.95 40 Chugoku 30-day rule ○
S-27 CS Shichikashuku-machi Power Plant Katta-gun, Miyagi 3,240 3,279 4.1 9,213.12 36 Tohoku 30-day rule ○
S-28 CS Kama-shi Power Plant Kama-shi, Fukuoka 586 567 0.7 2,242.96 36 Kyushu Unlimited and Uncompensated rule ○
S-29 CS Miyako-machi Saigawa Power Plant Miyako-gun, Fukuoka 5,780 5,991 6.7 13,011.20 36 Kyushu Unlimited and Uncompensated rule ○
S-30 CS Kasama-shi Dai-san Power Plant Kasama-shi, Ibaraki 5,840 5,915 6.7 13,569.36 32 Tokyo 30-day rule  
S-31 CS Yamaguchi-shi Power Plant Yamaguchi-shi, Yamaguchi 230 249 0.3 1,107.60 18 Chugoku Unlimited and Uncompensated rule ○
S-32 CS Sakura-shi Power Plant Sakura-shi, Chiba 321 346 0.3 1,218.30 21 Tokyo 360-hour rule  
Total 97,338 85,543 100.0 227,652.43 ー ー ー ー

(Note): The term "gvaluation price "refers to the intermediate value of power plants whose property numbers in the Asset List on page 12-13 are S-01 through S-18 estimated by CSIF, based on the valuations of power plants at the end of Dec. 2024 calculated by Pricewaterhouse Coopers Sustainability LLC. As for power plants S-19 through S-30, "gvaluation price" is the median value calculated by Kroll, LLC at the end of Dec. 2024, and for power plant S-31 and S-32, "gvaluation price " is estimated by CSIF, based on the valuations of power plants at the end of Dec. 2024 calculated by Japan Real Estate Institute.