Green Bond Fact Sheet

Solar Systems LLC

Date: 25/02/2020

Issue date: 06-02-2020 Maturity date: 06-02-2030 Tenor: 10
Issuer Name

LLC “SFC RuSol 1”(Solar Systems LLC)

Amount Issued

RUB5.7bn/USD92m

Country of risk

RussiaCBI Database

Included

Issuer Type1

Non-Financial
Corporate

Bond Type

SecuredGreen Bond Framework

N/A

Second party opinion

RAEX

Certification Standard

Not certified

Assurance report

N/A

Certification Verifier

N/AGreen bond rating

N/A☒ Energy☒ Solar☐ Onshore wind
☐ Offshore wind
☐ Geothermal☐ Hydro☐ Tidal☐ Biofuels☐ Bioenergy☐ District heating☐ Electricity grid

☐ Energy storage☐ Energy performance☐ Infrastructure☐ Industry: components☐ Adaptation & resilience☐ Buildings☐ Certified Buildings☐ HVAC systems☐ Energyperformance☐ Water performance☐ Energy storage/meters☐ Other energy related☐ Industry: components☐ Adaptation & resilience☐ Transport☐ Electric vehicles☐ Low emissionvehicles☐ Bus rapid transit☐ Passenger trains☐ Urban rail

☐ Freight rolling stock☐ Coach / public bus☐ Bicycle infrastructure☐ Energy performance☐ Transport logistics☐ Infrastructure☐ Industry: components☐ Adaptation & resilience☐ Water & wastewater☐ Water distribution☐ Water treatment☐ Wastewatertreatment☐ Water storage☐ Storm water mgmt
☐ Flood protection☐ Desalinisation plants☐ Erosion control☐ Energy performance☐ Infrastructure☐ Industry: components☐ Adaptation & resilience

Use of Proceeds☐ Waste management☐ Recycling☐ Waste prevention☐ Pollution control☐ Landfill, energy capture☐ Energy performance☐ Infrastructure☐ Waste to energy☐ Industry: components☐ Adaptation & resilience☐ Land use & agriculture☐ Afforestation/parks☐ FSC Forestry☐ FSC Cellulose &paper☐ Land remediation☐ Energy/water efficiency☐ Sustainable agriculture☐ Adaptation & resilience☐ Other☐ Adaptation &resilience☐ ICT☐ Industry: process

Issue details
ReportingCompany information

There will be both, reporting on use of proceeds as well as the impact of the projects on anat least annual basis until all funds are invested in eligible projects.
Use of proceeds reports will include at least:• A list of approved eligible green projects financed• The balance of the unallocated proceeds
The impact report will include at least:• Electricity generated from renewable sources (kWh)• Reduction/prevention of greenhouse gas emissions (tons of CO 2)
Solar Systems LLC is one of the largest producers of solar energy in Russia and specialises in
the construction of new solar plants as well as managing and operating them. The businessis also involved in selling and distributing the energy produced. The company also provides
other services related to renewable energy and has multiple subsidiaries.

Firsts, records andcertifications
Proceeds description

The project will finance the acquisition, construction and operation of solar energy projects
which can be selected from the list of the company’s projects including subsidiaries andjoint ventures with a look back period of 3 years before the date of placement forrefinancing. This includes the development, construction or production of components forrenewable energy projects. The projects should have established quantitative targets, suchas reduction of CO2 emission and / or generating electricity from renewable sources.

Climate Bonds view

This is the third green bond from a Russian issuer and the first one to fully dedicate
proceeds towards renewable energy projects. The share of renewables in Russia’s energy
mix is small since the country mainly relies on natural gas. This instrument can help develop
the domestic green bond market and take the next step to offer investment opportunities
to international investors. So far only one instrument has been issued in a foreign currency
via Russian Railways – EUR, (Certified against our Low Carbon Transport Criteria). The
month of issuance also coincides with the publication of the Competence and Green
Expertise Center CoLTI’s first register of green bonds for Russian issuers.

Underwriters
Deal commentsCredit Rating
Pricing summary

Investors summary

1Issuer categories: ABS, development bank, financial corporate, government-backed entity, loan, local government, non-financial
corporate, sovereign