WestAfricaEnergyCorporation

WestAfricaEnergy Corporation
1.

SenegalSolarProjectOverView

West Africa Energy Corporation, proposes to design, engineer, build and maintain an initial first in class 100 Megawatt solar energy project on Senegal, as its initial large scale solar farminstallationinSenegal.

2.0Derivation
TheSolarSenegalProjecthasbeenderivedfromthefollowing: AstrongpartnershipwithCanadaspremiersolardeveloperSolarBancorpInc. SolarBancorpInc.holdsanequityinterestinWestAfricaEnergyCorporation Programmemanagementglobalcomponentpartnersinallfacetsofthedesign, engineer,finance,andbuildtobesuppliedbytheproject,suchasETSolar,Talesun Solar,LDKSolarandSPISolar,allcorporationsworthhundredsofmillionsofdollars CorporatestrategyandstandardstobebestinclassintheAfricancountries,and beyond ProjectMandateistobeaSenegalcorporation,bestinclassworkmanship,drawing onallofitsglobalpartnersinsolarindustry,tosetstandardsforyearstocome Newindustrytrainingandcertificationfornewemployeeswillbemandatory Newjobsandnewlongtermcareers LessonsLogtobeinitiatedandeducationalupdatestobeonanannualbasis WestAfricaEnergyCollegewillbedevelopedinconjunctionwithdomesticand regionalindustrydevelopment Strongpartnershipwithgloballeadersinsolarequipmentmanufacturingincluding: EuroFunds,NBSolar,HHVSolar,CanadianSolar,SolarBancorpInc.,andYingli Solar Dieselelectricalgenerationhasbeenanuncontrollableutilityenvironmenttoforward planandexecuteanenergypolicyforAfricanstatessuchasSenegal InordertoattractbusinessownerstoSenegal,itisimperativetoofferanenergy environmentthatisnotheldrandomtothewildswingswithinthefuelcommodity businesses Familyresidentsandbusinessownersrequirethesecurityofconstantand dependableenergyqualityandcosts OilanddieselisimportedtoSenegal ThesolutiontothisenergychallengeisfoundintheSenegalsun,wheretheaverage sunlightperdaycanreachashighas13.5hours WestAfricaEnergyCorporationhasstrongglobalindustrypartners,throughits associationwithSolarBancorpInc.,andotherindustryleaders TheSenegalSolarProjecthasawiderangeofsolutionsatitsdisposal,asaresultof theadvancementswithinthesolarindustry TheProjectwillhavetheadvantageofbestinclassefficiencypanelandinverter equipment,asaresultoftherecentinnovationsexperiencedbytheindustry Choosingfromourleadingglobalpanelmanufacturingpartners,thehighestquality

2.

SenegalSolarProjectQualityCriteria

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criteriaProjectapproachhasbeenselectedwhichmaximizesthechanceof achievingoverallsuccessfortheProject TheSenegalSolarProjectobjectivesinclude:newjobsforSenegal,stateoftheart technologyutilization,Africanrenewableenergyleadershipanddemand,constantand controllableenergycostsforresidentsandbusinessownersinSenegal,andthe promotionofclean,renewableenergyfromthesun Ourapproachtoourbusinessisspecific,measurable,achievable,realistic,ontrend, andresponsibletothegoalsestablishedtocreateexcellence 3.

TailoringtoUnique

As a result of the frequent high winds in the Senegal region, itis mandatory to establish an engineering high bar of excellence in order to maintain and surpass structural integrity. We will tailor the mounting structure to withstand the highest winds ever recorded in this region. Modern structural applications will set standards for future solar installations on the African continent, where the Senegal Project will be referred as the high bar standard from all to defer. The purpose of West Africa Energy Corporation is to initiate, through best in class engineering and design,thestrongest, mostefficientsolararrayyetestablishedintheAfrican community. The SenegalSolarProject will be the standardfromwhichallsolarprojectswill emulate.

FirstinClassTechnologyforSenegal

4.

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SenegalSolarProjectScope Background:
Through the initiative ofMr.LeifStahl,ofDakar,Senegal,thecurrentenergyneedsofSenegal to require a strong component of renewable energy sources was introduced. Through a businessrelationshipwithMr.RossJohnBeatty,ChairmanoftheSolarBancorpIncGroupof Companies, this group have incorporated West Africa Energy Corporation with other investors.

ProjectObjectives
The objective of the Senegal Solar Project is to fund, design, and engineer and installs an initial 100 Megawatt best inclass solar array. This project will set standards of excellence, as well as create numerous new job opportunities for Senegal citizens. This represents approximately $30,000,000 investment in labour, solar panels, inverters, trackers, and electricalbalanceofsystems.

NewJobsinSenegal
DesiredOutcomes
Newjobcreation/Greencollarjobtraining Energycostcontrols/Renewable,nonfossilfuelenergygeneration AttractnewbusinessestoSenegal/AttractnewresidentstoSenegal Setglobalstandardsforinnovativeenergycreation

SenegalSolarProjectScopeandExclusions
The scope of installation will initiate at 100 Megawatts. With its success, it is contemplated to install another 500 Megawatts in Senegal. Choice of location will be determined by consultation with the utility, in orderto maintain the integrity of thetransmission technology. Required land will be approximately 60 acres for 100 MW, located close to a transmission station.

FundingandTechnologyPartners
Through its strong relationships with the leading technology providers, West Africa Energy Corporationwillinviteaminimumoffiveseniormanufacturerstobidonthisproject. All current technology partners have expressed serious interest to win thiscontract, and all provideconstructionanddevelopmentfunding,asapartoftheircontribution.

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ProjectTolerances
Tolerance Time Cost Risk Benefit Amount

Sixtoeightmonths $250,000,000.00USD Labour&GridAvailability Newjobcreationandrenewable energyforSenegal 100Megawattsinitially,expanding to500Megawatts Topofclassstandards,frombest manufacturers

Scope

Quality

TheSenegalSolarProjectTechnologyPartners
Na me

Interface

Par tne r ET Sola r Gro up Nanj ing

Establishedin2005,ETSolarGroupis thefirstChinesecompanythatengaged inEPCservice. Operatingphilosophyofleading technology,highqualityproductsand services,tooffercostefficientturnkey

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Chin a

systemsolutionsandservicesto specializedPVinvestors.

ETSolarbusinessisdividedinto manufacturingandturnkeysystem solutionswithannualsalesofnearly US$1.1billionin2011.Verystrong financialpartners. ETSolarGrouphasover2500 employeesworldwide. Productioncapacityofover1GWper year. Establishedin1999 NbSolarsgreatestadvantageistheir verticallyintegratedphotovoltaic process. Theyareabletoassuresuperiorquality alongeverystepofproduction,from polycrystallinesiliconmaterialstoingot, thensiliconwafers,throughtosolar cellsandpanels. Usingadvancedsolarpower manufacturingtechnology,theyreduce thecostsofproducingsolarcells. Thisnotonlyensureslowenergy consumptionthroughoutthewhole productionchain,butalsoachieves higherquality,safetyandsteady production. Annualproductionofhighestquality panelsiscurrently250MW Over16,000employeesworldwide Morethan20branchofficesglobally withlocalexpertise PubliclylistedontheNewYorkStock Exchangesince2007(NYSE:YGE) Over3.6GWofYingliSolarmodules installedaroundtheworld Recipientofnumerousinternational

NBS olar Ning bo Chin a

Yin gli Sola r Bao ding Chin a

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awardsandcertificatesincludingSocial Accountability8000andISO certifications Verticallyintegratedbusinessmodel coverstheentirePVvaluechain,from polysiliconproductiontotheassembly ofmodules. Currently,maintainabalancedvertically integratedproductioncapacityof1,700 MWperyear. Capacityexpansionprojectsofan additional750MWintotalareunder constructioninBaoding,Haikou,Tianjin andHengshui,whichareexpectedto increasetheCompany'stotalnameplate productioncapacityto2,450MWbythe endof2012. Financiallyverystrongpartnership CanadianSolarInc.(NASDAQ:CSIQ)isatop5GlobalModuleSupplier Leadingverticallyintegratedproviderofingots,wafers,solarcells, solarmodules,solarpowersystemsandspecializedsolarproducts FoundedinOntario,Canadain2011 Operateacrossthreecontinents, deliveringsolarmodulestocustomers over50countries. Sevenwhollyownedmanufacturing subsidiarieswithatotalcombined facilityspaceofoverto260,000sqm andamodulecapacityof2.05GW. Totalrevenuein2011was$1.9billion, Shipmentsof1323MWin2011. Silikenmoduleswereawardedthe Numberonetestmodules20100and Numbertwotestmodules2011. Silikenmoduleswereranked1stin 20100and2ndin2011asthemodules showingthebestresultsforenergy productionwhencomparedwithmore than47modulesofthecompetition.

Can adia n Sola r Wat erlo o Ont ario Can ada

Silik en Sola r Rom e Italy

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Guaranteedperformance yearafteryearTheimplementationoflinear guaranteesontheirmodulesatnoadditional costcomesfromthewilltoofferthebestservice toitscustomersandhighknowledgeoftheir products.

Morethan500 MWinstalledworldwide.MakesSilikena respectedbrandbyconsistentlyofferinga qualityproductwithprovenperformance.

Strong commitmenttoR&DItenabledthemto significantlyreducecostsandimprovethe permanentefficiencyoftheirproducts.Italso allowstoimprovetheexistingcatalogueandto developnewtechnologies.

Automationof theproductionprocessimprovesmanufacturing standards.Technologyhelpscontrolthemost difficultoperationswithextremeaccuracyin ordertoprovideitscustomerswithanextensive guaranteeontheproductstheymanufacture.

HH V Sola r Ban galo re

HHVSolarTechnologiesPvt.Ltd, "(HHVST)"producesworldclass, technologicallyadvancedsilicon photovoltaic(PV)modulesandoffers solartechnologybasedsolutionsto meettheexactingdemandsof commercialandindustrial establishmentsaroundtheworld.

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SolarIndustryInnovatorandnew technologyleader HHVST'sstateoftheartautomated manufacturingcentreislocatedat Dabaspet,inBangalore,India. Thisfacilityhasthecapabilityto producebothCrystallineandThinFilm SiliconPVModules,incompliancewith IECandULstandardsforphotovoltaic designandsafety. Productswillmeetavarietyofsmallto highvolumerequirements,inawide rangeofconsumergoodsandservices, acrossbothgridconnectedandoffgrid applications. HHVST'sabilitytooffertotalsolutions includespartneringwithclientsfor systemoptimisationandcustomized designoptions. HHVSTalsoprovideshandsontraining forcustomersrequiringturnkeyand technologytransfersolutionsinthese areas. Initsentryintotheglobalsolar photovoltaicmarket,HHVSThas leveragedontheexpertiseand reputationofitsparentcompany,HHV (HindHighVacuumCompanyPvt.Ltd), whichisagloballeaderinVacuum Science&PhotovoltaicTechnology.

HHVSolarMilestones 2008 2009 Incorporation cSicommercialLine35mw Developed300WModules BIPVmoduleupto140Wpdeveloped

20100 CertificationforIEC,UL&CEC CommercializationofamorphoussiliconPV module. Photovoltaicpanelslaunchedaroundtheworld

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2011

Manufacturesfinest96Cell400WModulesfirst timeinIndia.

5.

SenegalSolarBusinessCase

This project is needed in order to control electrical energy charges for residents and business owners alike. In order to continue to attract new businesses to Senegal, a renewable energy project must begin. Rising energy costs are stifling continued industrial growth. 6.

ProjectProductDescription

Onlyworldclasstechnology,highqualityworkmanship,androbustconstruction. Wewillchoosemodulesthataretrustedaroundtheworldfortheirperformance, quality,andreliability.

1.

Monocrystalline

Highefficiencymodulesarecreatedfromaninnovativentypecelltechnology Productfamilyspansfrom195Wto300W Moduleefficienciesofupto16.5%

2.

Multicrystalline

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Highestqualitymodules Productfamilyspansfrom180Wto300W Moduleefficienciesofupto15.4%

3.

Allproductssharethefollowingbenefits:

Consistenthighqualityresultingfromourverticallyintegratedproductionmodel Lengthy25yearlimitedpeakpowerwarrantyand100yearlimitedproductwarranty Durable,corrosionresistantaluminiumframetestedforpressureloadsofupto5,400 Pa Comprehensiveproductandfacilitycertifications

4.

ValueChainIntegration

The solar manufacturing process is a five step process. The entire PV value chain, from polysiliconto moduleassemblyinvolvestakingtherawmaterialofpolysilicon,then forming it into ingots, then creating wafers,then solarcellsand thenourend product modules. Fully automated production of ingots, wafers, solar cells and modules ensures tight control ofmaterial and productionquality,while providing significant cost advantagestoourprojects.

7.

ProjectApproach

Through our strong industry relations, we have initiated discussions with the five industry leaders, in order toapprize them of this exciting project. Each of these five solar leaders is internationallyrecognized for their innovation, their financial strength,andtheirenvironmental compassion. Werecognizethateachofthesefiveleadingindustryplayerswouldoffermany WestAfricaEnergyCorporation|Confidential

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innovativeandprogressivesolutionstotheSenegalsolarproject.

ProjectManagementTeamStructure Achart/tableshowingwhowillbeinvolvedwiththeproject.
Role Named Individual(s) Role Description

Executive Managing Director Business Assurance

RossJohn Beatty Asassigned

Utility

SenegalUtility

User Assurance Senior Equipment Supplier(s) Supplier Assurance

SenegalUtility

Chosenfrom TopFive Industry Leaders Asassigned

Executive Oversightand Direction Interface between labour, engineering, political Asrequired, siteselection, connection Maximize interface relationship ProvideBest inClass Equipment Timely delivery, insurance, warranties

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Project Manager Local Representatio n Team Manager(s)

AsAssigned

Asassigned

Asassigned

Project Support

Asassigned

Management oversightand direction Interfacewith WestAfrica Energy Corporation Team Managersfor Mountings, Panels, Inverters, Wiringand Grid Connection Interfacewith Team Managers

8.

SenegalSolarFunding

Thisprojectsfundingprogramisbrokendownintotwoparts:

1. Initialconstruction,design,engineering,permitting,projectmanagement 2. FinalEngineering,ProcurementofEquipment,Construction Ourtechnologyequipmentpartnersarealsoourfundingpartners,astheywillprovide constructionanddevelopmentfinance.Theyareseniorleadersinthesolarindustry,with capitalavailableinexcessofhundredsofmillionsofdollars.Wealsoworkwith internationalbankswithindepthexperienceinfundinglargesolarprojects.

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NewJobsforSenegal

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Directors
RossJohnBeatty(Chairman,Director) Mr. Beatty has spent over 35 years in the public markets holding roles including officer, director and owner of numerous Canadian investment brokerage firms. As Managing Director at Midland Walwyn Inc., Canada's largest investment brokerage firm, Mr. Beatty managed 1,200 brokers with assets under administration of over $20 billion. Then, as majority owner of the IDA investmentfirmR.J.BeattyFinancialCorp.,Mr.Beatty created and built a Canadabased investment house, which eventually managed assets in excess of $1 billion. Mr.BeattyistheFounderandChairmanofSolarBancorpInc.,ofCanada. He has participated in over 400 Initial Public Offerings (IPOs), bringing extensive Canadian investment finance experience to the Company. He has been recognized by the Prime Minister of Canadaas a recipient of a Federal Citation for his dedication toCanada. He has received the highly prestigious 'Citizen of theYear'awardfromhiscommunity. Mr.Beattyis the recipient of the Andrew Carnegie ScholarshipAward forhiscommunitycontributionsand continued research into clean energy selfsufficiency. Mr. Beatty is a graduate of the UniversityofToronto,andresidesinToronto,Ontario. Dr.SudhanshuVarna,Ph.D.(Director) Dr. Varna is an internationally recognized advanced materialsscientistwithalmost30years experience in the field of Photovoltaics. He has a PhD from the highly prestigious Indian Institute of Technology (IIT) at Kanpur, and has worked extensively in the processing of semiconductor materials, thin films and devices, including solar PV cells. Sudhanshu also has wide ranging experience in government, industry, and academia serving in a variety of research and business roles. He has senior management experience in the solar PV industry, having served as Headof Research and Development at TPK Solar Systems Ltd, and Chief Technology Officer at NewSun Technologies Ltd. Dr Varna resides in Ottawa, Canada. Dr.RayeThomas,Ph.D.,P.Eng.(IndustryAdvisor) Dr. Thomas has more than 35 years professional engineering, academic, consulting, and management experience. He has a Ph.D. from the Imperial College of Science and Technology in London, and is alsoaProfessionalEngineer.Dr.Thomassexpertiseincludes Photovoltaics, semiconductor processing, microelectronics, renewable energy, and manufacturing automation. He possesses a wealth of experience in international project development, international technology transfer, and knowledge of international development and environmentalissues.Dr.Thomasswiderangingdepthofexperienceinthephotovoltaic field represents a rare and uniquely valuable store of scientific, technical, and market knowledge in this fastgrowing industry. He has collaborated with Dr. Varma on PVrelated projectsandinitiativesformanyyears.Dr.ThomasresidesinOttawa,Canada.

DocumentDistribution

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Name AsAssigned Mr.RossJohnBeatty ToddGaudinCA

Organization Senegal WestAfricaEnergy Corporation WestAfricaEnergy Corporation WestAfricaEnergy Corporation WestAfricaEnergy Corporation

Role President Chairman Director Director Director

AdrianMiles

JoachimBaumgaertnerMBA

9.

PowerPurchaseAgreement

The Senegal Solar Projectwill seek a 30year Power Purchase Agreementwith the Senegal Utility,securingafixedagreementforallaspectsoftheenergyproject. PreparedBy

RossJohnBeatty
RossJohnBeatty,Chairman WestAfricaEnergyCorporation
ross@solarbancorp.com

6479984456(Canada)

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