Amendment #4 Page 230 of 868 110.kg c.:59 rnr The National Energy Regulator of South Africa or 'NERSA• is the pnmery regulator of South Atnca's energy sector and is responsible for regulating electricity, piped-gas and petroleum psehre irclustnes Solar and wind projects are governed by the Electricity Regulat on Act, which is the primary enabling legslaton for the RE PPP program and by other legslation applicable to water affairs, environmental affairs agriculture. forestry and fisheries and mince! resources Under the REIPPP program, a solar or wind prcsect n regulated as an independent power producer arid is authorized to pocket and sell electncity to Eckert the tour-tryst:age* state-owned power dirty. pursuant to a license issued by NERSA A solar a wind project is not generally subject to regulation as a pudic ditty in the traditional sense and. thus. is exempt Iran complying with South Africa's complex systemof power producer and procurement rules and regulators that are applicable to ESkO111 Honduras In May 2014. Florduras passed the taw for the ElecInc Industry that established a new regulatory framework for the electncity generation market. The market is regulated by three entities (0 the Ministry she superior authority in the electnoty subsector); (ii) the Electrioty Regulatory Commescri a decentralized entity charged van ganbng operating toenses, defiling the mettrxbEgy for calculating rates mentors-a a public registry of the corpanes participating in the elednoty sector and sancboring meat :chitty, and nu) the Systems Operator, an entity overseeing as technical aspects of the electncty Generation market. including proper coordination <A the generation and transmission system and controthrg the operations of the national grid. Tres tew authorizes ary company to pancipete in the electricity generation market with the proper licensing It guarantees free access to the gnd. as all transmission and destnbuton convenes we obligated to permit connec