[CONSOLIDATION_METHOD_TITLE] [CONSOLIDATION_METHOD]
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Provisional Acceptance process performed by the Ministry of Energy regarding our Company's 92% subsidiary TKJ's geothermal power plant with a planned installed capacity of 18 MW in Aydın province, Kuyucak town has been completed for the 10 MW part on 27 October 2017.  Related application regarding participation in  Renewable Energy Sources Support Mechanism ("RESSM") as of 2018 has been submitted as well. TKJ geotermal power plant is expected to participate in RESSM until 2017 year end with 18 MW installed capacity driven by the start of operations in all generation wells.

Therefore TKJ is expected to be eligible for selling electricity at a price of 11.8 USDc/kWh for the first 5 years of its operations thanks to local equipment utilization incentives, and 10.5 USDc/kWh for the second 5 year period via RESSM following expected commercial operation date by 2017 year end.

At the beginning of 2018, our Company plans to start slim drilling studies within 4,537 hectare area in Manisa thanks to our expertise obtained during TKJ investment.

Further details about the process will be shared with the public in a timely manner.

Kind regards,