[sheet: Contract Price Schedule]

[sheet: Contract Price Schedule]
Contract Year | Calendar Period Start | Calendar Period End | Contract Price ($/MWh) | Escalation Factor | Cumulative Escalation Factor | Estimated Annual Generation — P50 (MWh) | Estimated Annual Revenue | Cumulative Estimated Revenue
1 | 2027-04-01 | 2028-03-31 | $20.00 | N/A — Fixed | 1.000000 | 350000 | $7,000,000 | $7,000,000
2 | 2028-04-01 | 2029-03-31 | $20.00 | N/A — Fixed | 1.000000 | 350000 | $7,000,000 | $14,000,000
3 | 2029-04-01 | 2030-03-31 | $20.00 | N/A — Fixed | 1.000000 | 350000 | $7,000,000 | $21,000,000
4 | 2030-04-01 | 2031-03-31 | $20.00 | N/A — Fixed | 1.000000 | 350000 | $7,000,000 | $28,000,000
5 | 2031-04-01 | 2032-03-31 | $20.00 | N/A — Fixed | 1.000000 | 350000 | $7,000,000 | $35,000,000
6 | 2032-04-01 | 2033-03-31 | $20.30 | 1.50% | 1.015000 | 350000 | $7,105,000 | $42,105,000
7 | 2033-04-01 | 2034-03-31 | $20.60 | 1.50% | 1.030225 | 350000 | $7,211,575 | $49,316,575
8 | 2034-04-01 | 2035-03-31 | $20.91 | 1.50% | 1.045678 | 350000 | $7,319,748 | $56,636,323
9 | 2035-04-01 | 2036-03-31 | $21.23 | 1.50% | 1.061364 | 350000 | $7,429,544 | $64,065,867
10 | 2036-04-01 | 2037-03-31 | $21.55 | 1.50% | 1.077284 | 350000 | $7,540,987 | $71,606,854
11 | 2037-04-01 | 2038-03-31 | $21.87 | 1.50% | 1.093443 | 350000 | $7,654,102 | $79,260,956
12 | 2038-04-01 | 2039-03-31 | $22.20 | 1.50% | 1.109845 | 350000 | $7,768,913 | $87,029,869
13 | 2039-04-01 | 2040-03-31 | $22.53 | 1.50% | 1.126493 | 350000 | $7,885,447 | $94,915,316
14 | 2040-04-01 | 2041-03-31 | $22.87 | 1.50% | 1.143390 | 350000 | $8,003,728 | $102,919,044
15 | 2041-04-01 | 2042-03-31 | $23.22 | 1.50% | 1.160541 | 350000 | $8,123,784 | $111,042,828
16 | 2042-04-01 | 2043-03-31 | $23.57 | 1.50% | 1.177949 | 350000 | $8,245,641 | $119,288,469
17 | 2043-04-01 | 2044-03-31 | $23.92 | 1.50% | 1.195618 | 350000 | $8,369,326 | $127,657,795
18 | 2044-04-01 | 2045-03-31 | $24.28 | 1.50% | 1.213552 | 350000 | $8,494,866 | $136,152,661
19 | 2045-04-01 | 2046-03-31 | $24.65 | 1.50% | 1.231756 | 350000 | $8,622,289 | $144,774,950
20 | 2046-04-01 | 2047-03-31 | $25.02 | 1.50% | 1.250232 | 350000 | $8,751,623 | $153,526,573
Total | Blended Avg: $21.93/MWh | 7000000 | $153,526,573 | $153,526,573
[sheet: Settlement Mechanics]
Item | Description
PPA Structure | Virtual (financial) Power Purchase Agreement, structured as a contract for differences (CfD)
Seller | Saguaro Flats Solar LLC (a Delaware limited liability company and wholly-owned subsidiary of Calloway-Briggs Renewables Inc.)
Buyer | Meridian DataCore Solutions Inc. (a Delaware corporation; Nasdaq: MDCS)
Settlement Hub | ERCOT West Hub
Contract Price | As set forth in the Contract Price Schedule (Sheet 1); $20.00/MWh fixed for Years 1–5, escalating at 1.50% per annum compounding for Years 6–20
Floating Price | The hourly real-time settlement point price at the ERCOT West Hub for each settlement interval during the applicable billing period
Settlement Amount | For each MWh of metered generation during the billing period: Settlement Amount = (Contract Price − Floating Price) × Metered Quantity (MWh)
Payment Direction — Buyer Pays | If Contract Price > Floating Price, Buyer pays Seller the positive Settlement Amount
Payment Direction — Seller Pays | If Floating Price > Contract Price, Seller pays Buyer the absolute value of the negative Settlement Amount
Net Settlement | Amounts owed by each party are netted on a monthly basis; only the net amount is payable by the owing party
Billing Period | Calendar month
Payment Terms | Net settlement amount due within 20 business days after receipt of monthly settlement statement
Metered Quantity | Energy (MWh) delivered to the ERCOT grid at the point of interconnection (Ft. Stockton 345 kV Substation, Pecos County, TX) as measured by the revenue meter, net of station service and transformation losses
Interconnection / Delivery Point | Ft. Stockton 345 kV Substation, Pecos County, TX; Transmission Service Provider: West Texas Wires LLC; ERCOT Queue Position: ERCOT-GI-2024-0437
Project Capacity | 195 MWdc / 150 MWac (DC:AC ratio ≈ 1.30); ground-mounted single-axis tracking solar PV
Term | 20 years from Commercial Operation Date (expected COD: April 1, 2027 through March 31, 2047)
Aggregate Nominal Contract Value | ~$153,527,000 over the 20-year term (estimated at P50 annual generation of 350,000 MWh)
P50 Annual Generation Estimate | 350,000 MWh/yr (per Heliograph Energy Consulting LLC independent solar resource assessment, post-losses)
Total Contracted Volume (P50) | 7,000,000 MWh (350,000 MWh × 20 years)
Blended Average Contract Price | ~$21.93/MWh ($153,526,573 ÷ 7,000,000 MWh — nominal blended; actual receipts will vary with escalation and production)
Environmental Attributes | All Environmental Attributes (including RECs) associated with the metered generation are transferred to Buyer as part of the CfD settlement
Governing Law | State of New York
Dispute Resolution | Binding arbitration administered by the American Arbitration Association in New York, NY under AAA Commercial Arbitration Rules; panel of three arbitrators
[sheet: Escalation Reference]
Parameter | Value
Initial Contract Price (Years 1–5) | $20.00/MWh
Annual Escalation Rate (Years 6–20) | 1.50% per annum, compounding
Escalation Formula (Year n, n ≥ 6) | Contract Price = $20.00 × (1.015)^(n − 5)
Year 6 Price | $20.30/MWh
Year 10 Price | $21.55/MWh
Year 15 Price | $23.22/MWh
Year 20 Price | $25.02/MWh
P50 Annual Generation | 350,000 MWh
Estimated Year 1 Annual Revenue | $7,000,000
Estimated Year 20 Annual Revenue | ~$8,751,623
Aggregate Nominal PPA Value (20-yr) | ~$153,526,573
Total Contracted Volume (P50, 20-yr) | 7,000,000 MWh
Blended Average Contract Price (Nominal) | ~$21.93/MWh
Settlement Hub | ERCOT West Hub
Resource Consultant | Heliograph Energy Consulting LLC
COD (Expected) | April 1, 2027
PPA Expiration | March 31, 2047