You should have an existing black/white wire (maybe different color on your bike, but the one that removes the ground when key switch is on) from your ignition switch, that'll connect to the blue wire on power dynamo coil and is the kill/engine off switch. The two black wires go to the power dynamo reg/rec, the brown and red go to your battery red + brown -. How it all connects is they connect to the battery along with the existing battery terminals which are connected to the rest of the bike.
yes to 12v so bulbs and battery required.
https://www.powerdynamo.biz/wiredias/73ik_102.pdf