Mature and fully-licensed ready-to-build Biogas project of 9 MW: 1. Fully licensed project of a total capacity of 9 MW (one company x 3 nearby plants x 3 MW); only 12 MW are currently fully licensed in Greece including our project 2. The project enjoys attractive IRRs with project and equity IRR reaching 19% and 24% respectively, based on conservative operating assumptions 3. The above return does not take into account at all other potential revenue sources (e.g. sale of sub-products, district heating, green house etc.), which shall significantly improve the attractiveness of the project 4. The project developer, who can potentially stay in the project, is a highly experienced RES EPC player in the region, hence adding to the attractiveness and the credibility of this investment opportunity 5. Agreed lower CAPEX (c. EUR 2.7M / MW) with an Austrian technology provider due to this specific EPC's involvement into the project 6. Agreed and secured supply of raw material since the project developer is already cultivating maze silage in the same area for his other business activities 7. FiT for such biogas projects in Greece now stands at EUR 209/MWh (with subsidy); risk of downward FiT revision is low since a new law has been only enacted past month, while FiTs in Europe are now comparable or even higher than those in Greece (e.g. Germany's FiT exceed EUR 210/MWh) 8. Debt financing appears feasible with local Greek banks. 9. Project may require equity of EUR 10 - 12M 10. The selling price of the shares is EUR 3M. So the total investment required is EUR 3M + CAPEX of EUR 24-25M 11. 9M subsidy has been secured by the Greek government and EU funds lowering the total funding of the project to EUR 18-19M 12. All the permits and licenses are in place 13. An off-take agreement for 20 years has been signed