Es 09 09 16 Solar Income Fund Lp

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    Es 09 09 16 Solar Income Fund Lp - Presentation Transcript

    1. Solar Income Fund LP ™ Green Income. Green Tax Deductions. An Exclusive Opportunity to Participate in Clean & Renewable Solar Energy Power Generation www.solarincomefund.com
    2. Solar Income Fund LP™ Green Income. Green Tax Deductions. Forward Looking Statements, Advisories & Disclaimer: Information in this presentation contains forward looking statements, including expectations of projected returns and cash flows. Investors are cautioned that assumptions used in the preparation of such information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Solar Income Fund LP. These risks include, but are not limited to industry related risks, exchange rate changes and changes in taxation laws. Industry related risks could include, but are not limited to delays or changes in plans, risks associated to the uncertainty of feed-in tariff rates, changes to the cost of solar photovoltaic materials and supplies. The risks outlined above should not be construed as exhaustive. Investors are cautioned not to place undue reliance on any forward-looking information. Investors are further cautioned that the preparation of financial statements in accordance with Canadian generally accepted accounting principles ("GAAP") requires management to make certain judgments and estimates that affect the reported amounts of assets, liabilities, revenues and expenses. This document is not intended to be relied upon in connection with a purchase of securities. These highlights are for information purposes only and do not constitute an offer to sell or a solicitation to buy the securities referred to herein. The securities are offered only by means of the Confidential Offering Memorandum. Only a formal Offering Memorandum is intended to be relied upon in connection with the purchase of securities. This document represents a historical view of financial results and may not be an indication of future performance. In association with ASG Financial Group. Copyright © 2009 Solar Income Fund Inc. "Solar Income Fund LP" and "Creating Green Wealth“ are trademarks of Solar Income Fund Inc. All rights reserved.
    3. Solar Income Fund LP™ Green Income. Green Tax Deductions. The Solar Income Fund LP (the “Fund”) provides Canadian Accredited Investors with an opportunity to own secure income producing assets in the Solar Energy Power Generation sector The Fund seeks to take advantage of long term government-backed incentives, in the form of guaranteed energy feed-in-tariffs and 20 year power purchase agreements The Fund is a Green and Socially Responsible alternative to traditional energy and mining flow-through share investments The Fund seeks to invest up to CAD $33 Million of equity to build solar photovoltaic (“solar PV”) installations, in Germany, of up to CAD $75 Million in value TAX-PREFERRED DISTRIBUTIONS of 8% Per Annum Preferred Distributions expected to commence in 2010 (see Green Income page) TAX DEDUCTIONS Canadian investors may be eligible for tax deductions of up to 50% of their initial investment (see Green Tax Deductions page) PROJECTED TOTAL RETURNS of 15%+ Per Annum The Fund expects to create an exit for investors in 2013 through a sale of assets or a private to public transaction (see Projected Return page) This document is not intended to be relied upon in connection with a purchase of securities. These highlights are for information purposes only and do not constitute an offer to sell or a solicitation to buy the securities referred to herein. The securities are offered only by means of the Confidential Offering Memorandum. Only a formal Offering Memorandum is intended to be relied upon in connection with the purchase of securities. This document represents a historical view of financial results and may not be an indication of future performance. In association with ASG Financial Group. Copyright © 2009 Solar Income Fund Inc. "Solar Income Fund LP" and "Creating Green Wealth“ are trademarks of Solar Income Fund Inc. All rights reserved.
    4. Solar Income Fund LP™ Green Income. Green Tax Deductions. GREEN INCOME : from 2010 to 2019** 8% distributions per annum (simple interest)* 8%+ Distributions are cumulative and preferred Distributions expected to commence in 2010 and paid on a semi-annual basis Distributions expected to be taxable as a capital gain starting in 2014*** *Annual distributions are based on the amount of solar energy power production sold into the utility grid. May be higher or lower depending on annual energy production **The Fund Manager expects to create an exit for investors in 2013 ***Due to tax losses annual distributions are not expected to be taxable during the first 4 years of the Fund’s operations This document is not intended to be relied upon in connection with a purchase of securities. These highlights are for information purposes only and do not constitute an offer to sell or a solicitation to buy the securities referred to herein. The securities are offered only by means of the Confidential Offering Memorandum. Only a formal Offering Memorandum is intended to be relied upon in connection with the purchase of securities. This document represents a historical view of financial results and may not be an indication of future performance. In association with ASG Financial Group. Copyright © 2009 Solar Income Fund Inc. "Solar Income Fund LP" and "Creating Green Wealth“ are trademarks of Solar Income Fund Inc. All rights reserved.
    5. Solar Income Fund LP™ Green Income. Green Tax Deductions. GREEN INCOME : from 2019 to 2029** 20% distributions per annum (simple interest)* Distributions are cumulative and preferred 20%+ Distributions increase from 8% per annum after the debt is fully paid in 2019*** Distributions to be paid on a Semi-Annual basis *Annual distributions are based on the amount of solar energy power production sold into the utility grid. May be higher or lower depending on annual energy production **The Fund Manager expects to create an exit for investors in 2013. If an exit is not available investors will continue to receive annual distributions until 2029 ***Distributions to be taxed as a capital gain This document is not intended to be relied upon in connection with a purchase of securities. These highlights are for information purposes only and do not constitute an offer to sell or a solicitation to buy the securities referred to herein. The securities are offered only by means of the Confidential Offering Memorandum. Only a formal Offering Memorandum is intended to be relied upon in connection with the purchase of securities. This document represents a historical view of financial results and may not be an indication of future performance. In association with ASG Financial Group. Copyright © 2009 Solar Income Fund Inc. "Solar Income Fund LP" and "Creating Green Wealth“ are trademarks of Solar Income Fund Inc. All rights reserved.
    6. Solar Income Fund LP™ Green Income. Green Tax Deductions. GREEN TAX DEDUCTIONS Canadian residents may be able to gain access to tax deductions of up to 50% of their invested capital (this will depend on each investors personal tax circumstances)* The primary components of the tax deductions are Capital Cost Allowance (CCA) & Interest Expense The tax opinion will be provided by, international tax counsel to the Fund, Cadesky & Associates LLP* *All investors should seek independent legal and tax counsel before investing in the Fund **All investors in the Fund will be required to file a German LP return for German source income. The Fund will provide this service at no additional out-of-pocket expense to the investors This document is not intended to be relied upon in connection with a purchase of securities. These highlights are for information purposes only and do not constitute an offer to sell or a solicitation to buy the securities referred to herein. The securities are offered only by means of the Confidential Offering Memorandum. Only a formal Offering Memorandum is intended to be relied upon in connection with the purchase of securities. This document represents a historical view of financial results and may not be an indication of future performance. In association with ASG Financial Group. Copyright © 2009 Solar Income Fund Inc. "Solar Income Fund LP" and "Creating Green Wealth“ are trademarks of Solar Income Fund Inc. All rights reserved.
    7. Solar Income Fund LP™ Green Income. Green Tax Deductions. PROJECTED CASH FLOW ($100K Investment) 2009 2010 2011 2012 2013 Original Investment 100,000 Tax Deductions (5,713) (17,695) (11,354) (7,040) (1,663) Tax Savings @ 46% (2,628) (8,140) (5,223) (2,860) (751) Preferred Distributions - (8,040) (8,060) (8,140) (8,760) Return on Cash 2.63% 16.18% 13.28% 11.00% 9.51% Tax savings calculated based on marginal tax rate of 46%. Will vary by province Preferred distributions expected to commence in 2010 (see Green Income page) Exit planned for 2013 through sale of assets or private to public transaction (see Projected Return page) This document is not intended to be relied upon in connection with a purchase of securities. These highlights are for information purposes only and do not constitute an offer to sell or a solicitation to buy the securities referred to herein. The securities are offered only by means of the Confidential Offering Memorandum. Only a formal Offering Memorandum is intended to be relied upon in connection with the purchase of securities. This document represents a historical view of financial results and may not be an indication of future performance. In association with ASG Financial Group. Copyright © 2009 Solar Income Fund Inc. "Solar Income Fund LP" and "Creating Green Wealth“ are trademarks of Solar Income Fund Inc. All rights reserved.
    8. Solar Income Fund LP™ Green Income. Green Tax Deductions. PROJECTED RETURNS ($100K Investment) 1 E x it o f S o la r P V In s ta lla tio n s in 2 0 1 3 O r ig in a l C a p ita l In v e s tm e n t 1 0 0 ,0 0 0 A 5 L e s s T a x S a v in g s @ 4 6 % (1 9 ,6 0 2 ) L e s s D is trib u tio n s R e c e iv e d (3 3 ,0 0 0 ) N e t C a p ita l In v e s te d 4 7 ,3 9 8 B 2 P ro c e e d s o n S a le 1 1 0 ,0 0 0 C 4 T o ta l R e tu rn % 63 % (C -B )/ A 3C a pita l G a in (p ro c e e d s o f d is p o s it io n le s s A C B ) 8 5 ,61 3 4C a pita l G a in s T ax - G e rm a n y (1 0 ,0 0 0 ) 5 C a pita l G a in s T ax - C a n a d a @ 2 3 % (1 9 ,6 9 1 ) 4 A d d b a c k : F o re ig n T a x C re d it fo r G e rm a n ta x 1 0 ,0 0 0 (1 9 ,6 9 1 ) F 6 N e t P ro c e e d s o n S a le A ft e r-T a x 9 0 ,3 09 D =C +F T o ta l A fte r-T a x R e tu rn % 43 % (D -B )/ A 1 A s s u m e s in v s e to r e x i t in 2 0 1 3 2 A s s u m e s a 1 0 % g a i n o n e x i t o f s o la r p v i n s ta l la t io n s . B a s e d o n a c o n s e rv a t iv e v a lu a t io n o f t he re m a in i ng c a s h f lo w d i s tri b u tio n s o n a p re s e n t v a lu e b a s is 3 A s s u m e s th e l im it e d p a rt n e rs A C B (a d j us t e d c o s t b a s e ) is : 2 4 ,3 8 7 - C a l c ul a te d a s p r oc e e ds o f d is p o s i tio n le s s g ro s s t a x d e d u c t io n s l e s s pr e fe rr e d d is t ri bu t io n s 4 A s s u m e s c a pi ta l g a i n s t a x e d a t 5 0 % . E li g ib le fo r fo r e ig n i n c o m e ta x c re d it 5 A s s u m e s hi g h e s t m a rg i n a l ta x b ra c k e t is 4 6 % (w il l v a ry b y p ro v i n c e ) 6 R e tu rn s ne t o f m a na ge m e n t p e rfo rm a n c e f e e s This document is not intended to be relied upon in connection with a purchase of securities. These highlights are for information purposes only and do not constitute an offer to sell or a solicitation to buy the securities referred to herein. The securities are offered only by means of the Confidential Offering Memorandum. Only a formal Offering Memorandum is intended to be relied upon in connection with the purchase of securities. This document represents a historical view of financial results and may not be an indication of future performance. In association with ASG Financial Group. Copyright © 2009 Solar Income Fund Inc. "Solar Income Fund LP" and "Creating Green Wealth“ are trademarks of Solar Income Fund Inc. All rights reserved.
    9. Solar Income Fund LP™ Green Income. Green Tax Deductions. SOLAR PV VALUE CHAIN The Fund is focused on the more conservative segment of the solar PV value chain. The energy generation segment of the solar PV value chain provides investors with the opportunity to generate stable returns. •Build to Own •Speculative/Technology Driven/High Barriers to Entry •Feed-in Tariffs •Predictable Income Streams Higher Risk Silicon Ingot Wafer Solar Cell Solar Integrator Producer Feedstock Module This document is not intended to be relied upon in connection with a purchase of securities. These highlights are for information purposes only and do not constitute an offer to sell or a solicitation to buy the securities referred to herein. The securities are offered only by means of the Confidential Offering Memorandum. Only a formal Offering Memorandum is intended to be relied upon in connection with the purchase of securities. This document represents a historical view of financial results and may not be an indication of future performance. In association with ASG Financial Group. Copyright © 2009 Solar Income Fund Inc. "Solar Income Fund LP" and "Creating Green Wealth“ are trademarks of Solar Income Fund Inc. All rights reserved.
    10. Solar Income Fund LP™ Green Income. Green Tax Deductions. FACTS ABOUT SOLAR PV ENERGY GENERATION Guaranteed power purchase agreements: Solar PV energy generation systems qualify for 20 year government guaranteed Power Purchase Agreements Energy Feed-in Tariffs: backed by government guarantees 25 year warranty on solar module power output: 90% power output assurance for 10 years, and 80% power output assurance for 25 years Short building cycle: 10 to 12 weeks is the average time from the start of a project to connecting into the utility grid and selling energy production Reduction of CO2 emissions: Solar PV uses only the power of the sun as its fuel. It creates no harmful by-product and contributes actively to reduce global warming PV modules can be recycled: and therefore the materials used in the production process (silicon, glass, aluminum, etc.) can be reused This document is not intended to be relied upon in connection with a purchase of securities. These highlights are for information purposes only and do not constitute an offer to sell or a solicitation to buy the securities referred to herein. The securities are offered only by means of the Confidential Offering Memorandum. Only a formal Offering Memorandum is intended to be relied upon in connection with the purchase of securities. This document represents a historical view of financial results and may not be an indication of future performance. In association with ASG Financial Group. Copyright © 2009 Solar Income Fund Inc. "Solar Income Fund LP" and "Creating Green Wealth“ are trademarks of Solar Income Fund Inc. All rights reserved.
    11. Solar Income Fund LP™ Green Income. Green Tax Deductions. GERMANY : THE RENEWABLE ENERGY BOOM The Renewable Energy Sources Act of 2000 (revised 2008) has spawned an alternative energy boom in Germany, making Germany the world leader in energy produced from solar PV. As of 2008, 14.2% of electricity used in Germany comes from renewable sources, and the government has announced a goal of 45% by 2030. This document is not intended to be relied upon in connection with a purchase of securities. These highlights are for information purposes only and do not constitute an offer to sell or a solicitation to buy the securities referred to herein. The securities are offered only by means of the Confidential Offering Memorandum. Only a formal Offering Memorandum is intended to be relied upon in connection with the purchase of securities. This document represents a historical view of financial results and may not be an indication of future performance. In association with ASG Financial Group. Copyright © 2009 Solar Income Fund Inc. "Solar Income Fund LP" and "Creating Green Wealth“ are trademarks of Solar Income Fund Inc. All rights reserved.
    12. Solar Income Fund LP™ Green Income. Green Tax Deductions. GERMANY : EEG & FEED-IN TARRIFS The Renewable Energy Sources Act (EEG) guarantees attractive feed-in tariffs for energy production This Federal Law requires that utilities buy renewable energy production from owners of renewable energy installations, at a rate that is above the standard retail price The feed-in tariff rates are fixed at the time of solar PV project construction The feed-in tariffs are guaranteed for 20 years through Power Purchase Agreements and there is no limit to the energy that can be sold into the grid at these rates Source: EPIA.org This document is not intended to be relied upon in connection with a purchase of securities. These highlights are for information purposes only and do not constitute an offer to sell or a solicitation to buy the securities referred to herein. The securities are offered only by means of the Confidential Offering Memorandum. Only a formal Offering Memorandum is intended to be relied upon in connection with the purchase of securities. This document represents a historical view of financial results and may not be an indication of future performance. In association with ASG Financial Group. Copyright © 2009 Solar Income Fund Inc. "Solar Income Fund LP" and "Creating Green Wealth“ are trademarks of Solar Income Fund Inc. All rights reserved.
    13. Solar Income Fund LP™ Green Income. Green Tax Deductions. GERMANY : POLICY DRIVEN GROWTH Global annual solar PV market Outlook per Region Three key drivers of solar PV (Policy-Driven scenario) energy generation in Germany: 1. Renewable Energy Sources Act (EEG) 2. A clear, transparent and predictable financial market place 3. Availability of subsidized government financing through German banks The German Feed-in-Tariff model with guaranteed Power Purchase Agreements has been adopted by other European countries and most recently the US and Ontario Source: EPIA.org This document is not intended to be relied upon in connection with a purchase of securities. These highlights are for information purposes only and do not constitute an offer to sell or a solicitation to buy the securities referred to herein. The securities are offered only by means of the Confidential Offering Memorandum. Only a formal Offering Memorandum is intended to be relied upon in connection with the purchase of securities. This document represents a historical view of financial results and may not be an indication of future performance. In association with ASG Financial Group. Copyright © 2009 Solar Income Fund Inc. "Solar Income Fund LP" and "Creating Green Wealth“ are trademarks of Solar Income Fund Inc. All rights reserved.
    14. Solar Income Fund LP™ Green Income. Green Tax Deductions. GERMANY : IDEAL TIMING FOR SOLAR PV ENERGY GENERATION A poor environment for solar module manufacturers will be a good environment for solar PV integrators and power producers who will be able to take advantage of the declining costs of solar modules Current global economic recession has accelerated price reductions in solar PV modules Despite the credit crunch take-out financing is available from German banks While public markets are full of uncertainty and volatility, private infrastructure investments provide the potential for predictable and stable returns This document is not intended to be relied upon in connection with a purchase of securities. These highlights are for information purposes only and do not constitute an offer to sell or a solicitation to buy the securities referred to herein. The securities are offered only by means of the Confidential Offering Memorandum. Only a formal Offering Memorandum is intended to be relied upon in connection with the purchase of securities. This document represents a historical view of financial results and may not be an indication of future performance. In association with ASG Financial Group. Copyright © 2009 Solar Income Fund Inc. "Solar Income Fund LP" and "Creating Green Wealth“ are trademarks of Solar Income Fund Inc. All rights reserved.
    15. Solar Income Fund LP™ Green Income. Green Tax Deductions. THE EXECUTION PLAN : OVERVIEW The Fund is working with a number of the top solar PV integration companies in Germany with over 200 Megawatts of installed solar PV across Europe, the US and Asia. The Fund has engaged COU Capital Inc. (“COU”), an independent solar PV integration company, to act as the lead installation and operational manager for the Fund COU Capital Inc. Pohlen Solar Kranicch Solar Bayerische Solar Over 200 Megawatts built and tied into the grid based on guaranteed energy feed-in tariffs and 20 year power purchase agreements This document is not intended to be relied upon in connection with a purchase of securities. These highlights are for information purposes only and do not constitute an offer to sell or a solicitation to buy the securities referred to herein. The securities are offered only by means of the Confidential Offering Memorandum. Only a formal Offering Memorandum is intended to be relied upon in connection with the purchase of securities. This document represents a historical view of financial results and may not be an indication of future performance. In association with ASG Financial Group. Copyright © 2009 Solar Income Fund Inc. "Solar Income Fund LP" and "Creating Green Wealth“ are trademarks of Solar Income Fund Inc. All rights reserved.
    16. Solar Income Fund LP™ Green Income. Green Tax Deductions. THE EXECUTION PLAN : OVERVIEW COU is a privately owned Canadian company with operations in Germany and has a strong management team focused on designing, building and managing solar PV energy installations across Europe The Fund will engage COU through fixed-price contracts and build only on those sites that have been approved for solar PV installations The Fund will focus on both commercial solar parks and commercial solar rooftop opportunities ranging from 1 Megawatt to 5 Megawatts in size COU will deliver to the Fund completed solar PV installations with 20 year guaranteed Power Purchase Agreements in place The Fund will work with German banks to finance up to 65% of the solar pv installation cost This document is not intended to be relied upon in connection with a purchase of securities. These highlights are for information purposes only and do not constitute an offer to sell or a solicitation to buy the securities referred to herein. The securities are offered only by means of the Confidential Offering Memorandum. Only a formal Offering Memorandum is intended to be relied upon in connection with the purchase of securities. This document represents a historical view of financial results and may not be an indication of future performance. In association with ASG Financial Group. Copyright © 2009 Solar Income Fund Inc. "Solar Income Fund LP" and "Creating Green Wealth“ are trademarks of Solar Income Fund Inc. All rights reserved.
    17. Solar Income Fund LP™ Green Income. Green Tax Deductions. THE EXECUTION PLAN : ASSET MIX The Fund will invest its capital into both ground mounted solar PV installations & commercial rooftop solar PV installations The asset mix will vary with the Ground Mounted opportunities available at the time Solar PV that the Fund is launched Commercial Rooftop Solar PV The key benefits of the Fund’s asset mix: Diversification Enhanced yield potential This document is not intended to be relied upon in connection with a purchase of securities. These highlights are for information purposes only and do not constitute an offer to sell or a solicitation to buy the securities referred to herein. The securities are offered only by means of the Confidential Offering Memorandum. Only a formal Offering Memorandum is intended to be relied upon in connection with the purchase of securities. This document represents a historical view of financial results and may not be an indication of future performance. In association with ASG Financial Group. Copyright © 2009 Solar Income Fund Inc. "Solar Income Fund LP" and "Creating Green Wealth“ are trademarks of Solar Income Fund Inc. All rights reserved.
    18. Solar Income Fund LP™ Green Income. Green Tax Deductions. THE EXECUTION PLAN : EXCLUSIVE OPPORTUNITIES COU has access to exclusive opportunities through their network and relationships that would otherwise not be available to the Fund…For example: •ALDI is a leader in the international grocery retailing industry, serving Europe, the USA and Australia •1,000 stores and growing •Large distribution centers in Germany •Going “Green” with their rooftops •Up to 10 Megawatts of opportunities for the Fund* *From design to completion it takes approximately 10 to 12 weeks to tie into the utility grid This document is not intended to be relied upon in connection with a purchase of securities. These highlights are for information purposes only and do not constitute an offer to sell or a solicitation to buy the securities referred to herein. The securities are offered only by means of the Confidential Offering Memorandum. Only a formal Offering Memorandum is intended to be relied upon in connection with the purchase of securities. This document represents a historical view of financial results and may not be an indication of future performance. In association with ASG Financial Group. Copyright © 2009 Solar Income Fund Inc. "Solar Income Fund LP" and "Creating Green Wealth“ are trademarks of Solar Income Fund Inc. All rights reserved.
    19. Solar Income Fund LP™ Green Income. Green Tax Deductions. THE EXECUTION PLAN : FINANCING Despite the current credit crunch in the global economy financing is available for solar PV installations through German banks The current financing offer for solar PV installations is approximately 4.1% simple interest per annum (fixed for ten years with a ten year amortization period) The financing model is supported by the German government and is a key industry driver, in addition to Feed-in Tariffs and 20 year Power Purchase Agreements The Fund has engaged German banks to provide take out financing of up to a maximum of 65% of the total solar PV installation cost* *German banks will take a first security position on each solar PV installation. This document is not intended to be relied upon in connection with a purchase of securities. These highlights are for information purposes only and do not constitute an offer to sell or a solicitation to buy the securities referred to herein. The securities are offered only by means of the Confidential Offering Memorandum. Only a formal Offering Memorandum is intended to be relied upon in connection with the purchase of securities. This document represents a historical view of financial results and may not be an indication of future performance. In association with ASG Financial Group. Copyright © 2009 Solar Income Fund Inc. "Solar Income Fund LP" and "Creating Green Wealth“ are trademarks of Solar Income Fund Inc. All rights reserved.
    20. Solar Income Fund LP™ Green Income. Green Tax Deductions. THE EXECUTION PLAN : FINANCING Think like a Conservative Banker….. What risk is implied by the interest rate on the financing available to the Fund? Does the bank view us as higher risk or lower risk opportunity? This document is not intended to be relied upon in connection with a purchase of securities. These highlights are for information purposes only and do not constitute an offer to sell or a solicitation to buy the securities referred to herein. The securities are offered only by means of the Confidential Offering Memorandum. Only a formal Offering Memorandum is intended to be relied upon in connection with the purchase of securities. This document represents a historical view of financial results and may not be an indication of future performance. In association with ASG Financial Group. Copyright © 2009 Solar Income Fund Inc. "Solar Income Fund LP" and "Creating Green Wealth“ are trademarks of Solar Income Fund Inc. All rights reserved.
    21. Solar Income Fund LP™ Green Income. Green Tax Deductions. THE EXECUTION PLAN : GOVERNMENT & INSTITUTIONAL PARTNERS KfW Bankengruppe is a German economic development bank under the ownership of the Federal Republic and the Länder (federal states). It offers support to encourage sustainable improvement in economic, social, ecological living and business conditions. The Federally owned KFW Bankengruppe (“KFW”) is the primary originator of take-out financing for all German Renewable Energy projects (that meet the requirements of the KFW program) One of the EU’s largest banks. Operates in 22 European countries with total assets in $EUR 459 Billion. UniCredit Group is the parent company of HypoVereinsbank (“HVB”). German subsidiary of Unicredit Group with over 800 branches and 25,000 employees. Large focus on Renewable Energy Loans. HypoVereinsbank (“HVB”) is the commercial loan underwriter for the Fund who will work with the KFW to secure our take-out financing The Fund has engaged HVB to provide take-out financing of up to a maximum of 45% of each solar pv installation. HVB will apply to the KFW on behalf of the Fund on a project by project basis This document is not intended to be relied upon in connection with a purchase of securities. These highlights are for information purposes only and do not constitute an offer to sell or a solicitation to buy the securities referred to herein. The securities are offered only by means of the Confidential Offering Memorandum. Only a formal Offering Memorandum is intended to be relied upon in connection with the purchase of securities. This document represents a historical view of financial results and may not be an indication of future performance. In association with ASG Financial Group. Copyright © 2009 Solar Income Fund Inc. "Solar Income Fund LP" and "Creating Green Wealth“ are trademarks of Solar Income Fund Inc. All rights reserved.
    22. Solar Income Fund LP™ Green Income. Green Tax Deductions. THE EXECUTION PLAN : FLOW OF CAPITAL Minimizing development risk and protecting investor capital….A step by step process… 1. The Fund raises capital and the proceeds are invested in short term t-bills at HVB Project Selection 2. COU presents the Fund with solar pv installation opportunities that meet the Fund’s investment criteria 3. HVB and KFW review the opportunities and inform the Fund if the opportunities are eligible for KFW Approvals financing 4. Upon HVB and KFW approval the Fund provides an initial deposit of up to 15% of the project cost to COU Financing 5. COU develops the project with an estimated delivery date of 10 to 12 weeks for each project (with fixed price contracts) 6. Projects are completed and tied into the utility grid with 20 year guaranteed Power Purchase Agreements Development 7. The Fund takes title to each solar project concurrent with HVB financing ($1 dollar invested becomes $2.3 of solar pv energy assets) Income 8. The Fund begins to generate solar energy power production, which is sold into the utility grid, from the first date of title transfer This document is not intended to be relied upon in connection with a purchase of securities. These highlights are for information purposes only and do not constitute an offer to sell or a solicitation to buy the securities referred to herein. The securities are offered only by means of the Confidential Offering Memorandum. Only a formal Offering Memorandum is intended to be relied upon in connection with the purchase of securities. This document represents a historical view of financial results and may not be an indication of future performance. In association with ASG Financial Group. Copyright © 2009 Solar Income Fund Inc. "Solar Income Fund LP" and "Creating Green Wealth“ are trademarks of Solar Income Fund Inc. All rights reserved.
    23. Solar Income Fund LP™ Green Income. Green Tax Deductions. THE EXECUTION PLAN : MANAGEMENT COMPENSATION 0.25% annual management fee (compares to 2.5% industry average) 20% performance fee if annual preferred distributions exceed hurdle rate of 8% 20% performance fee on the capital returns generated over and above the investors original investment (does not include distributions paid to investors) *Aligning investor interests with management execution and performance This document is not intended to be relied upon in connection with a purchase of securities. These highlights are for information purposes only and do not constitute an offer to sell or a solicitation to buy the securities referred to herein. The securities are offered only by means of the Confidential Offering Memorandum. Only a formal Offering Memorandum is intended to be relied upon in connection with the purchase of securities. This document represents a historical view of financial results and may not be an indication of future performance. In association with ASG Financial Group. Copyright © 2009 Solar Income Fund Inc. "Solar Income Fund LP" and "Creating Green Wealth“ are trademarks of Solar Income Fund Inc. All rights reserved.
    24. Solar Income Fund LP™ Green Income. Green Tax Deductions. SUMMARY : PROJECTED GREEN SOCIAL BENEFITS* *Greenhouse Gases Not Released into the Atmosphere(**): Kg of CO2 per year: 11,370,266 Tons of CO2 in 25 years: 216,468 *Number of Households supplied with energy: 12,719 *Equivalent to approximately 50 Million car KM per year * Based on full deployment of the Fund’s capital. ** Compared to a Combined Cycle Power Generation This document is not intended to be relied upon in connection with a purchase of securities. These highlights are for information purposes only and do not constitute an offer to sell or a solicitation to buy the securities referred to herein. The securities are offered only by means of the Confidential Offering Memorandum. Only a formal Offering Memorandum is intended to be relied upon in connection with the purchase of securities. This document represents a historical view of financial results and may not be an indication of future performance. In association with ASG Financial Group. Copyright © 2009 Solar Income Fund Inc. "Solar Income Fund LP" and "Creating Green Wealth“ are trademarks of Solar Income Fund Inc. All rights reserved.
    25. Solar Income Fund LP™ Green Income. Green Tax Deductions. SUMMARY : OWNERSHIP OF ENERGY GENERATION ASSETS VS. STOCKS Solar and Cleantech ETFs Energy Generation Assets Vs. Predictable Stable Secure This document is not intended to be relied upon in connection with a purchase of securities. These highlights are for information purposes only and do not constitute an offer to sell or a solicitation to buy the securities referred to herein. The securities are offered only by means of the Confidential Offering Memorandum. Only a formal Offering Memorandum is intended to be relied upon in connection with the purchase of securities. This document represents a historical view of financial results and may not be an indication of future performance. In association with ASG Financial Group. Copyright © 2009 Solar Income Fund Inc. "Solar Income Fund LP" and "Creating Green Wealth“ are trademarks of Solar Income Fund Inc. All rights reserved.
    26. Solar Income Fund LP™ Green Income. Green Tax Deductions. SUMMARY : KEY RISKS 1) Exchange rate risk: Euro 2) Political and Geographic Risk: Changes in solar PV policy 3) Building Risk: Integration firm does not deliver projects on time or budget 4) Financing Risk: Changes in financing rates and terms for take-out financing 5) Timing Risk: The Fund does not raise and deploy its required capital in a timely manner in 2009 resulting in slippage of tax deductions and distributions 6) Taxation Risk: changes in tax policy which may impact the Fund Ris RISK MITIGATION STRATEGY 1) Hedging of the Euro 2) Changes in government policy are considered a low risk given the German leadership in global installation of solar PV 3) Managing integration firm through: fixed price contracts, non-exclusive agreements, non-performance penalties 4) Financing is available based on the security of the 20 year Power Purchase Agreements. Financing rates and terms are supported by a federal government lending program (through KfW Bankengruppe) 5) The Fund has secured enough projects to fulfill the mandate of the Fund. The raising of the capital is on a best efforts basis 6) The Fund is working with international tax counsel to mitigate all potential tax risks but has no control over changes in government policy This document is not intended to be relied upon in connection with a purchase of securities. These highlights are for information purposes only and do not constitute an offer to sell or a solicitation to buy the securities referred to herein. The securities are offered only by means of the Confidential Offering Memorandum. Only a formal Offering Memorandum is intended to be relied upon in connection with the purchase of securities. This document represents a historical view of financial results and may not be an indication of future performance. In association with ASG Financial Group. Copyright © 2009 Solar Income Fund Inc. "Solar Income Fund LP" and "Creating Green Wealth“ are trademarks of Solar Income Fund Inc. All rights reserved.
    27. Solar Income Fund LP™ Green Income. Green Tax Deductions. SUMMARY : KEY INVESTMENT BENEFITS Tax-preferred distributions of 8% per annum Annual tax deductions Secure revenue stream based on 20 year guaranteed power purchase agreements Potential for capital appreciation Planned liquidity event in 2013 Green and Socially Responsible alternative to mining and flow-through share investments Fund Managers management fees tied to success of the Fund This document is not intended to be relied upon in connection with a purchase of securities. These highlights are for information purposes only and do not constitute an offer to sell or a solicitation to buy the securities referred to herein. The securities are offered only by means of the Confidential Offering Memorandum. Only a formal Offering Memorandum is intended to be relied upon in connection with the purchase of securities. This document represents a historical view of financial results and may not be an indication of future performance. In association with ASG Financial Group. Copyright © 2009 Solar Income Fund Inc. "Solar Income Fund LP" and "Creating Green Wealth“ are trademarks of Solar Income Fund Inc. All rights reserved.
    28. Solar Income Fund LP™ Green Income. Green Tax Deductions. SUMMARY : INVESTOR PROFILE Canadian Accredited Investor Pays income tax at the top marginal rates and can benefit from potential tax deductions of up to 50% of their original investment Seeking tax-preferred income distributions Prefer a Socially Responsible & Green alternative to traditional energy and mining flow-through shares Seeking a stable alternative to volatile public equity investments Seeking enhanced portfolio diversification through private ownership of real assets This document is not intended to be relied upon in connection with a purchase of securities. These highlights are for information purposes only and do not constitute an offer to sell or a solicitation to buy the securities referred to herein. The securities are offered only by means of the Confidential Offering Memorandum. Only a formal Offering Memorandum is intended to be relied upon in connection with the purchase of securities. This document represents a historical view of financial results and may not be an indication of future performance. In association with ASG Financial Group. Copyright © 2009 Solar Income Fund Inc. "Solar Income Fund LP" and "Creating Green Wealth“ are trademarks of Solar Income Fund Inc. All rights reserved.
    29. Solar Income Fund LP™ Green Income. Green Tax Deductions. Management Team Paul Ghezzi, CA Managing Director Paul Ghezzi is the Founder and Managing Director of the Solar Income Fund LP. Paul’s career of providing expert financial management advice spans over 15 years and is highlighted by a personal dedication to creating a sustainable future through socially responsible investing. Following a professional career as a Chartered Accountant and financial advisor Paul has been focused on creating structured investment opportunities in the renewable energy sector since 2005. In that same year Paul founded a family office, DBS Private Client Group, which helps affluent Canadian families maximize their sustainable wealth. Paul is a professional member of the Institute of Chartered Accountants of Ontario and the Socially Responsible Investment Organization. Allan Grossman, CA Director Allan Grossman is the Founder and Chairman of ASG Financial Corp. ASG has completed approximately $1 Billion in in transactions in the corporate, commercial, industrial and retail sectors for a large number of investors. ASG currently manages over $400 Million in alternative investments on behalf of their investors. His many years of experience as a former senior partner with Horwath Orenstein LLP, demonstrated to him that there was a clear need for sophisticated investors to participate in the many benefits of direct ownership of assts and greater diversity in their investment portfolios. Mr. Grossman is a an accomplished lecturer and published writer focusing on a wide variety of legal, taxation and other relevant business topics. This document is not intended to be relied upon in connection with a purchase of securities. These highlights are for information purposes only and do not constitute an offer to sell or a solicitation to buy the securities referred to herein. The securities are offered only by means of the Confidential Offering Memorandum. Only a formal Offering Memorandum is intended to be relied upon in connection with the purchase of securities. This document represents a historical view of financial results and may not be an indication of future performance. In association with ASG Financial Group. Copyright © 2009 Solar Income Fund Inc. "Solar Income Fund LP" and "Creating Green Wealth“ are trademarks of Solar Income Fund Inc. All rights reserved.
    30. www.solarincomefund.com In association with ASG Financial Group This document is not intended to be relied upon in connection with a purchase of securities. These highlights are for information purposes only and do not constitute an offer to sell or a solicitation to buy the securities referred to herein. The securities are offered only by means of the Confidential Offering Memorandum. Only a formal Offering Memorandum is intended to be relied upon in connection with the purchase of securities. This document represents a historical view of financial results and may not be an indication of future performance. In association with ASG Financial Group. Copyright © 2009 Solar Income Fund Inc. "Solar Income Fund LP" and "Creating Green Wealth“ are trademarks of Solar Income Fund Inc. All rights reserved.
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