Fuyo General Lease Co., Ltd., ENEOS Corporation and Advanced Power AG announced that Cutlass Solar, a solar power generation project in Texas, USA (Plant), in which they jointly invested, has started commercial operation. In the U.S., the introduction of renewable energy is accelerating with the passing of the Inflation Reduction Act*1 that supports investment in climate change countermeasures. Electricity generated by the plant will be sold through ERCOT (Electric Reliability Council of Texas, the state's grid and market operator), providing sustainable energy with minimal environmental impact to the surrounding community.

The plant will have an installed capacity of 140 MW and a projected annual generation capacity of approximately 247,000 MWh, making it the largest solar power plant that Fuyo Lease has ever undertaken. Under new medium-term management plan, Fuyo Shared Value 2026, which began in fiscal 2022, the Fuyo Lease Group aims to achieve sustainable growth as a corporate group by simultaneously solving social issues and creating economic value through the practice of shared value (CSV). Outline of the Plant: Name: Cutlass Solar.

Location: Fort Bend County, Texas, U.S.A. Output Scale (Module Capacity): 140MW. Site Area: Approximately 700 acres (Nearly 2.8km2). Investors (Indirect Investment): Fuyo Lease, ENEOS, AP.

Operating Company: Cutlass Solar LLC. Commencement Date: January 24, 2023.