Esola Energy 1 Leases 6,254㎡ Roof of Jenesis Building for Solar Power Venture

Esola Energy 1 announced on the 21st that it has decided to enter into a lease agreement for a rooftop solar power installation on a building owned by Jenesis. The leased roof area is 6,254㎡, with a total lease cost of 919.8 million won over 20 years. This represents 45.99% of the company's total assets (20 billion won paid-in capital). The transaction is with Jenesis, with the acquisition purpose focused on power generation. The lease term is 20 years, with annual rent of 60,000 won per kW. The company stated the acquisition cost is based on simple summation of lease payments without present value discount, as no appropriate discount rate was determined for the new entity. The 20 billion won asset figure reflects paid-in capital since the company lacks a formal balance sheet as a new entity.