NEFIN completed Alliance’s largest renewable energy project generating more than 74,000kWh solar power annually

The solar PV system installed at the new Sai Tso Wan 2 plant is capable of offsetting 29 tonnes of CO2 annually

HONG KONG SAR - Media OutReach - 15 December 2022 - NEFIN, APAC's premium green independent power producer (IPP), is pleased to announce the successful completion of the largest solar PV system installed for Alliance Construction Materials Limited ("Alliance"), a joint venture of CK Infrastructure Holdings Limited ("CKI") and HeidelbergCement.

The system will generate approximately 74,000 kWh electricity annually, equivalent to offsetting 29 tonnes of CO2 per year, or planting 480 extra trees for Hong Kong.

The new Sai Tso Wan 2 Plant is Alliance's third concrete batching plant to install a solar PV system for generating renewable energy. The solar PV systems in the two other Alliance plants, namely Yuen Long Plant and Tsing Tim Street plant were installed in 2020. This is the largest system amongst the 3 plants.

"Our latest deployment is a perfect example of how NEFIN delivers bespoke carbon neutral solutions to our long-term partners. Our work with Alliance is a testament to the renewable energy movement in Hong Kong and we pride ourselves in helping our partners and clients reduce their carbon footprint through a safe and smooth energy transition." said Mr. Glenn Lim, CEO of NEFIN Group.

The plant contains 124 PV panels, which are installed at two separate rooftop zones. The teams have opted to make use of industrialized panels for this project which contain specialized optimizer systems for electrical safety enhancement while optimizing performance. As the trusted partner for developers, contractors and other professionals in the construction industry, Alliance provides concrete and aggregates solutions to support diverse range of construction projects around Hong Kong.

"At Alliance, we strive to take the lead, work with our industry and community to realize the Net Zero 2050 global vision and combat climate change. Besides delivering products and services with lower carbon footprint, we committed to the Science Based Targets initiative this year, which marks our clearly-defined path to reducing carbon emissions. Developing Solar PV system at our plants is also a key step to achieve our sustainability ambition. It's our strategic plan to explore more renewable energy sources as well as improve energy efficiency in order to meet the growing energy demand," Mr. Vincent Yu, CEO of Alliance said.

NEFIN, and their shareholder ACEN have collectively developed over 3,400 MW of utility-scale, commercial and industrial renewable energy systems, making them highly experienced in system installation even at a height of 40m. The plants are also installed with railing system for safety protection, ensuring safety is kept at the forefront of the operations.

The two companies will continue to work together to combat climate change and finding new ways to achieve their sustainability goals.

The issuer is solely responsible for the content of this announcement.

About NEFIN Group

NEFIN is a premium green independent power producer (IPP) offering bespoke carbon neutral technologies & financing solutions in Asia Pacific. NEFIN, funded by AC Energy Corporation ("ACEN"), has collectively installed over 3,400MW of utility-scale, commercial and industrial renewable energy systems. ACEN is listed in the Philippines (PSE: ACEN) and is part of the Ayala Corporation, one of the largest and oldest conglomerates in Philippines, founded by the Ayala family in 1834. With its regional and multidisciplinary team, NEFIN offers comprehensive assessments and a full-suite of services to evaluate the ESG impact and commercial viability of projects through innovative approaches to technology under its unified energy management platform.

With a mission of "Achieving Carbon Neutrality for You", NEFIN is committed to the global climate goals and aims to accelerate the decarbonisation of our client portfolios. NEFIN believes the future of the world is everyone's responsibility and strives to redefine energy boundaries towards a sustainable future. Please refer to NEFIN's website www.nefinco.com for more information and follow us at https://www.linkedin.com/company/nefin/.

About Alliance Construction Materials Limited

Alliance Construction Materials Limited ("Alliance") is the leading concrete and aggregates Total Solutions Provider in Hong Kong. Having grown hand in hand with Hong Kong since early 1960s, the company has evolved to be a joint venture owned by CK Infrastructure Holdings Limited ("CKI") and HeidelbergCement since 2004.

Embracing the international credentials and local expertise inherited from both CKI and HeidelbergCement, Alliance provides innovative, reliable and customer-focused solutions on ready mixed concrete and aggregates to meet the most demanding requirements of construction projects in Hong Kong. With a proven track record of more than half a century, the company are committed to delivering the best value for customers with its unrivalled technical expertise and production capability, strategically located concrete plants, sustainable rock reserves, strong logistic capability, digitalized processes and dedicated customer service team. For further information, please visit https://www.concrete.hk/en.