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Energía limpia para nuestro futuro Congreso Regional de Energía – ASI
San Salvador – Julio 20, 2016
Energia del Pacífico - El Salvador - Page 2
BACKGROUND
Energía del Pacífico- El Salvador - Page 3
355 MW Tender Highlights
§ The Purpose of the tender was the supply 355 MW of power and its associated energy to seven private distribution companies in El Salvador.
§ PPAs for 20 years
§ Fuel Cost + O&M are pass through costs
§ Coal and LNG permitted (Fuel Oil and pet coke banned)
§ Bid due October 1st, 2013.
§ Fourteen PPAs with local Distribution Companies in El Salvador
Energia del Pacífico - El Salvador - Page 4
ABOUT US
Energía del Pacífico- El Salvador - Page 5
§ Energía del Pacífico, LTDA. de C.V. (EDP) has been granted an International Tender organized by the government of El Salvador for a 20 year Power Purchase Agreement (PPA) to deliver 355 MW and its associated energy.
§ The Commercial Operation Date (COD) is in 2019.
§ The Project Site is located in the port of Acajutla, Departamento de Sonsonate, República de El Salvador in Central America.
§ The Tender Process for the PPA was carried out under the supervision of the Salvadorian General Superintendence of Electricity and Telecommunications (SIGET).
ABOUT US
Energía del Pacífico- El Salvador - Page 6
SHAREHOLDING STRUCTURE
Invenergy: A US company (Majority Shareholder)
Quantum Energy: A private company from El Salvador (Minority Shareholder)
Energía del Pacífico- El Salvador - Page 7
Shell: § LNG supply
MAIN SUPPLIERS
Wärtsilä: • Design & Build of the Power
Generation Plant and supply the power generation engines.
Energía del Pacífico- El Salvador - Page 8
ABOUT INVENERGY § Invenergy was founded in 2001, it develops, owns and operates
power generation and energy storage facilities around the world, carrying out various Clean Energy projects (Wind, Solar, Natural Gas, Cogeneration and Energy Storage) in North America and Europe.
§ Invenergy is headquartered in Chicago, with regional offices in Denver, Toronto, Mexico City, Warsaw and Tokio.
§ In addition to their projects they have a portfolio of more than 80
initiatives of power generation in Wind, Solar, Natural Gas, Cogeneration and Energy Storage that are currently in various stages of their development, construction or operation, with a total capacity exceeding 10,000 MW.
Energia del Pacífico - El Salvador - Page 9
PROJECT OVERVIEW
Energía del Pacífico- El Salvador - Page 10
Project Site: Port of Acajutla, El Salvador
Acajutla Port
The Project Site is located within the property of CEPA in the Port of Acajutla (the main port of El Salvador).
Acajutla LNG Project
Site
(378 MW) (300 MW)
Acajutla Port (Exis1ng)
New Infrastructure
Energía del Pacífico- El Salvador - Page 11
LNG Terminal and Power Plant Conceptual Design
LNG Terminal: • LNG terminal capable to receive large
LNG carriers (up to 165,000 m3) • Offshore storage • Concept design by Moffat & Nichol
Regasifica3on Barge • 50,000 m3 storage capacity • Offshore regasifica1on
Power Plant: • 378 MW • Reciproca1ng engines in
Combined cycle
Electrical Substa3on
Subsea NG pipeline
FSU 125,000-‐140,000 m3
Energía del Pacífico- El Salvador - Page 12
Current Marine Layout (by SPT and OSL)
Energía del Pacífico- El Salvador - Page 13
Hybrid LNG Storage
Energía del Pacífico- El Salvador - Page 14
§ Weather hedge: Regasification Barge Tank allows for long enough buffer to remove FSU in case of bad weather conditions. Cofferdam structure surrounding the Regasification Barge can be concrete or sheet piling.
§ Capex: Keeps project cost competitive. FSU charter rates are attractive compared to the cost of similar size land storage.
§ Proven concept § LNG: Could be considered the most environmentally friendly Fossil
fuel, because it has the lowest CO2 emissions per unit of energy and because it is suitable for use in high efficiency combined cycle power stations
Hybrid LNG Storage
15
Power Plant Specifications § 19 natural gas Wärstilä engines 50SG in combined cycle mode
§ Simple cycle mode: 348 MW § Steam turbine: 30 MW
§ Net Output: 378 MW § Heat Rate : 7800 BTU/kWh (HHV)
430MW Wartsila Flexicycle in Dominican Republic
Energia del Pacífico - El Salvador - Page 16
WÄRTSILÄ Wärtsilä, was founded in 1834, currently a global leader in advanced technologies and complete lifecycle solutions for the marine and energy markets, emphasizing sustainable innovation and total efficiency. A Supplier of ultra-flexible Power Plants of up to 600 MW, operating various gaseous and liquid fuels. Wärtsilä will be responsible in our Project for the Design & Construction of the Power Generation Plant, as well as providing materials and equipment.
Energia del Pacífico - El Salvador - Page 17
SHELL As a result of an International Tender for the Liquefied Natural Gas (LNG), that was supervised by SIGET, EDP received the official approval to proceed with the negotiations regarding the long-term purchase sale contract for LNG with Shell, whose bid was rated as the most competitive among all binding offers received. Shell is also one of the largest LNG Shipping Operators around the world.
Energia del Pacífico - El Salvador - Page 18
Transmission Line Transmission Line
Energía del Pacífico- El Salvador - Page 19
Acajutla LNG to Power Project Milestones
Energia del Pacífico - El Salvador - Page 20
ENERGY SECTOR
Energía del Pacífico- El Salvador - Page 21
Energy Sector Institutional Framework Institution Role Description
C.N.E. Comisión Nacional de Energía
Governmental Authority
Creation of policies and strategies for the energy sector
SIGET Superintendence of Electricity and Telecommunications
Governmental Regulatory Authority
Regulation of both the Energy and Telecommunications Sectors.
UT Independent System Operator
System Operator
Transmission system and Wholesale market operation
Distribution Companies Seven privately owned energy distribution companies (see table below)
DISCO Owner % Contract Rating
CAESS
AES (74%)
44.7% A+
CLESA 16.2% -
EEO 10.7% A+
DEUSEM 2.7% -
DELSUR Empresas Públicas de Medellin 24.3% AA-
EDESAL Local Investors 0.6% -
B&D Local Investors 0.9% -
Energía del Pacífico- El Salvador - Page 22
Power Generation Mix (MW)
48% Thermal
32% Hydro
14% Geothermal
6% Biomass Hydro power reached
peak poten1al
Energía del Pacífico- El Salvador - Page 23
Breakdown of Power Generation for 2012 (GWh)
Source: CNE Boletín Resúmen Annual 2012
Bunker
Hydro
Geothermal
Energía del Pacífico- El Salvador - Page 24
Electrical Interconnection Project
SIEPAC Grid Interconnec1on
Project Site
Energía del Pacífico- El Salvador - Page 25
PPA Revenues Payment Capacity: § Fixed payment based on the Power Plant´s available capacity. Set by regulator.
Associated Energy: § Take-or-pay contract for 70% of the energy from 355 MW (contracted capacity). § Paid by DISCOs regardless if System Operator dispatches or doesn’t the Power Plant.
Energía del Pacífico- El Salvador - Page 26
Associated Energy and Spot Sales
DISCO energy demand
Associated energy
Spot sales
The Associated Energy of the Project, mirrors the daily DISCOs demand curve pro-rata for the 355 MW contracted capacity.
§ Spot sales based on additional demand from the 70% DISCO load factor § System Operator dispatches the energy from the power plant based on
marginal cost (fuel + O&M) § Spot sales projected to account for less than 20% of revenues
Disco Max. demand
Disco Energy demand
Project Associated Energy
Spot Sales
Energía del Pacífico- El Salvador - Page 27
Project Structure
Energía del Pacífico- El Salvador - Page 28
LNG consumption vs. Power Plant Dispatch Sensitivity
10
12
14
16
18
20
22
24
26
60% 65% 70% 75% 80% 85% 90% 95% 100%
Trillion BT
U / year
Dispatch Rate
Fuel Demand [T Btu/yr] vs. Dispatch
23
17
Energía del Pacífico- El Salvador - Page 29
Projected LNG Demand • Average monthly LNG consumption: 80,000 – 90,000 m3 • Range requested between 14-23 Trillion BTU per year
Energía del Pacífico- El Salvador - Page 30
Fuel Supply under the PPA The PPA establishes Three periods for disclosing the fuel supply terms:
It is expected to have the LNG supply contract approved by SIGET before June, 2016
Initial Period:
Contracted Period:
Remaining Period:
1 year, 2019. Project strategy approved by SIGET, is to request a long term contract for 12 years, starting on the 2nd year of operation of the power plant.
12 years, 2020-2031.
7 years, 2032 – 2038.
Energía del Pacífico- El Salvador - Page 31
LNG Power in the Energy Sector Demand vs. Distance to site
Visit us at: www.energiadelpacifico.com