DUNECO

SOLUTIONS

Letter of Intent

Please allow me to introduce myself – my name is Paul Keisch – I am a Partner in a small Romanian

Company who knows a small wind project to upgrade on a small valuable plot in Romania.

Here briefly is the situation – The project is about upgrading an existing old 4 MW Wind farm. The project

is at an early enough stage whereby the company is open to a JV with an individual investor. The

company has not made any commitments but knows where to acquire the turbines from. This presents a

tremendous opportunity for an individual investor to consider injecting the initial €100.000 themselves

in return for an equity position of the entire project. I am looking to partner on this project with suitable

industry related individuals/groups looking to participate in this exciting development by raising funds

in the average amount of €6.500.000 with the following Budget Allocation Structure:

• €5.200.000 – total cost of 2 wind turbines

• €200.000 – turbines transportation

• €200.000 – foundations and pedestals

• €25.000 – turbines installing using a crane

• €15.000 – guarantee for putting Wind farm in operation

• €70.000 – land + O&M building purchasing

• €6.000 – land + O&M building development

• €414.000 – operational expenses

• €370.000 – contingency

The total investment payback period is less than 10 years with a grace period of 12 months for

upgrading, delivery and construction time. Annual Energy Production (AEP) is around 12.634 MWh,

Return on Investment (ROI) – 12%, Net Present Value (NPV) – €5,1 Million, Internal Rate of Return (IRR)

– 19,2% and estimates show yearly revenues (including incentives) of €1,2 Million.

PPA agreement for this old Wind farm is suspended for couple of years. To resume it, we need to show

the Romanian electricity company a Proforma Invoice for the turbines. We need to inject the initial

€100.000 that will be used to cover due diligence, initiate the wind speed survey and feasibility study

along with purchasing of the land in question – in return the project principals would enter into an

agreement with the provider of the €100.000 to purchase the turbines. In effect the €100.000 would be

like a project acquisition cost and could easily be recovered from the revenues generated from the

manufacture, supply and installation of the turbines. We as project owners are willing to give up equity

position in the project.

This of course is just one option that we feel is attractive, however, we are interested in connecting with

like thinking professionals who can grasp the potential in this project.

I am confident that once you have taken a look at our projections you will be intrigued enough to warrant

further discussion. In the interest of brevity, I will leave it at this point for now and look forward to

hearing from you in a timely manner. I would be pleased to answer any questions you may have.

Sincerely,

Business Partner

Keisch Paul October 15, 2014