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Maite Santos
Commercial Operations
Business Development, ACCIONA Energía
Investment opportunities in the wind power sector in Australia
Asociación Empresarial Eólica
Madrid, November 21st, 2013
ACCIONA Energía Our experience in wind power in Australia
Index
1. ACCIONA Energy, world leader in renewables
2. ACCIONA’s presence in Australia
3. Our projects in wind power
4. Market framework in Australia
5. Conclusions
2
Sales
€2,107m
EBITDA
€1,125m
Owned capacity
8,491 MW
Production
20.4 TWh
International presence
19 countries
Workforce
2,466
Data at 31.12.2012 except owned capacity at 30.09.2013
3
ACCIONA ENERGIA: OUR EXPERIENCE IN AUSTRALIA . ACCIONA ENERGY, WORLD LEADER IN RENEWABLES
ACCIONA Energy’s key figures
4
ACCIONA ENERGIA: OUR EXPERIENCE IN AUSTRALIA . ACCIONA ENERGY, WORLD LEADER IN RENEWABLES
Major presence in five technologies
Company owned
Customers
Total
314
1
315
CSP
49
67
116
Photovoltaic
912
912
Hydro
57
57
Biomass
7,159
1,472
8,631
Wind Total
8,491
1,540
10,031
Data at 30.09.2013. The company also owns 9 MW in cogeneration
5
ACCIONA ENERGIA: OUR EXPERIENCE IN AUSTRALIA . ACCIONA ENERGY, WORLD LEADER IN RENEWABLES
A global company
Power plants in service Projects under construction or awarded Avanced-development projects Industrial plants
Canada 181
USA 692
Wind CSP
628 64
Mexico 557
Costa Rica
Brazil
Chile
Portugal 165
Wind PV
119 46
Spain 5,974
Wind Hydro CSP Biomass PV Cogeneration
4,743 912 250
57 3 9
Germany 150 Poland 71
Hungary 24
Croatia 30
Greece 48
Italy 156 India 86
South Korea 61
Morocco South Africa
Australia 305
Data at 30.09.2013 in MW
6
ACCIONA ENERGIA: OUR EXPERIENCE IN AUSTRALIA . ACCIONA ENERGY, WORLD LEADER IN RENEWABLES
The only company with presence in all the value chain
Project development
Engineering & construction
Manufacture of wind turbines
Production Management & sale of energy
Cross knowledge, proven reliability and customized/tailored solutions are our unique capabilities
7
ACCIONA ENERGIA: OUR EXPERIENCE IN AUSTRALIA . ACCIONA’S PRESENCE IN AUSTRALIA
Contributing to Australia’s development since 2002
ADELAIDE DESALINATION PLANT
MUNDARING WTP
Design-Build-O&M (35 years). Capacity: 250,000 m3/day.
One of the biggest desalination plants in the world.
Capacity: 300,000 m3/day.
AGUA ACCIONA AGUA (Water)
ACCIONA ENERGY
Three wind farms which produce enough clean energy for 205,000 Australian homes
304.5 MW IN WIND POWER
LEGACY WAY TUNNEL
AU$1.5bn project designed, built and operated by AI for 10 years as lead participant (under construction)
Direct high-speed connection between East and West Brisbane
ACCIONA INFRASTRUCTURE
• More than 500 employees in the country
• AEO - 73 skilled employees
• AEO - headquarters in Melbourne
• AEO - over AS$600m invested
• Global provider of sustainable solutions in energy, water and infrastructure
8
ACCIONA ENERGIA: OUR EXPERIENCE IN AUSTRALIA . OUR PROJECTS IN WIND POWER
More than 300 MW already operational in three states
GUNNING WIND FARM
31 AW1.5 (46.5 MW)
WAUBRA WIND FARM
128 AW1.5 (192 MW) CATHEDRAL ROCKS WIND FARM
33 Vestas V80 (66 MW)
9
ACCIONA ENERGIA: OUR EXPERIENCE IN AUSTRALIA . OUR PROJECTS IN WIND POWER
Cathedral Rocks Wind Farm. 66 MW (2005)
• First AEO wind farm (Sept. 2005)
• 50:50 JV Energy Australia
• PPA with Energy Australia
• Constructor: John Holland
• Remote and exposed location on the Eyre Peninsula (South Australia)
• High level of community support, with considerable local contracting during construction
Cathedral Rocks wind farm (66 MW) South Australia.
11
ACCIONA ENERGIA: OUR EXPERIENCE IN AUSTRALIA . OUR PROJECTS IN WIND POWER
Waubra Wind Farm. 192 MW (2009)
• Biggest AEO’s wind farm
• Operational since July 2009
• PPA with Origin Energy
• Constructor: Leighton
• AWP technology (AW1500)
• Construction successfully carried out with minimal interference to the over 35 separate farms on which it is located
Waubra wind farm (192 MW). Victoria.
13
ACCIONA ENERGIA: OUR EXPERIENCE IN AUSTRALIA . OUR PROJECTS IN WIND POWER
Gunning Wind Farm. 46.5 MW (2011)
• Operational since March 2011
• PPA with Origin Energy
• Constructor: CATCON
• AWP technology (AW1500)
• Construction successfully carried out with minimal local disturbance despite restricted site access and steep terrain.
Gunning wind farm (46.5 MW). NSW
15
ACCIONA ENERGIA: OUR EXPERIENCE IN AUSTRALIA . OUR PROJECTS IN WIND POWER
Building community support
• Community involvement is crucial in Australia since the very beginning of the project
• Transparency, closeness and local added-value are good tools to build community support
• Community benefit fund focusing on environment, education, sport and culture carried out in Waubra and Gunning areas
• Targeted sponsorship program in projects under development
16
ACCIONA ENERGIA: OUR EXPERIENCE IN AUSTRALIA . OUR PROJECTS IN WIND POWER
Global remote operation and maintenance
• 9,652 MW operated for AE and customers in over 360 facilities
• 8,169 MW in 259 wind farms with 6,855 turbines
• 24 hrs/7 day control room in Australia providing centralized support to both the staff on site and external bodies
• Global Control Center (CECOER) in Spain with delegations in Australia, US and Mexico
17
ACCIONA ENERGIA: OUR EXPERIENCE IN AUSTRALIA . OUR PROJECTS IN WIND POWER
ACCIONA Energy wind power portfolio
Additional portfolio
• Up to 250 MW in earlier stages of development in high wind resource sites in South Australia and Queensland which will be developed as market conditions dictate
Mt Gellibrand (VIC) 189W 63 x AW 116
Berrimal (VIC) 24MW 16 x AW82
Mortlake South (VIC) 76.5MW 51 x AW82
AEO additional wind portfolio (MW)
144
South Australia
Queensland
105
18
ACCIONA ENERGIA: OUR EXPERIENCE IN AUSTRALIA . OUR PROJECTS IN WIND POWER
We also provide EPC services in wind and solar
• EPC Services to Clients Our experience allows us to anticipate the industry’s needs and provide superior EPC services to clients.
• ACCIONA Energy has been shortlisted for a number of wind and solar developments, reflecting the competitiveness of our offer.
• ACCIONA Energy has been awarded the EPC and WOM contract for the 20-MW Royalla Solar Farm (Fotowatio) in the Australian Capital Territory. Construction is currently underway.
19
ACCIONA ENERGIA: OUR EXPERIENCE IN AUSTRALIA . MARKET FRAMEWORK IN AUSTRALIA
Australia’s wind project ownership overview
Infigen 556.6MW
Meridian 280MW
AEO 271.5MW Pacific
Hydro 260MW
Hydro Tas
243MW
AGL 210MW
Infigen
Meridian
AEO
Pacific Hydro
Hydro Tasmania & Shenhua Clean Energy
AGL
UBS & REST
Infrastructure Capital Group
EnergyAustralia
Energy Infrastructure Investments
TrustPower
Palisade Investment
APA Group
RATCH Australia
Guohua Energy Investment & Hydro Tasmania
Challenger Group Pty Ltd
Verve Energy & Energy Infrastructure Trust
Eurus Energy
International Power
Origin Energy
Verve Energy
CGN Wind Energy Ltd
Advanced Energy Resources
Regional Wind Farms
Eraring Energy
Community Approx 3000 MW total installed
Other: 1,200 MW
AEO: 3rd wind developer in Australia, 1st international
ACCIONA ENERGIA: OUR EXPERIENCE IN AUSTRALIA . MARKET FRAMEWORK IN AUSTRALIA
Market and RET targets
• Three main vertically integrated electricity retailers, controlling approx. 80% of NEM retail market:
Origin AGL Energy Australia
Market participants
• Developers largely dependent on them for PPAs
• Approx. 10 smaller (2nd and 3rd tier retailers), albeit with limited demand for PPAs
RET targets
Renewable Energy Target 2020 (by State and capacity in MW)
State Current (MW)
Remaining (MW)
2020 target (MW)
Victoria 1,685 2,700 4,385
S. Australia 1,206 600 1,806
NSW 4,569 4,650 9,219
Tasmania 2,424 500 2,924
Queensland 683 2,000 2,683
N. Territory 3 50 53
W. Australia 612 500 1,112
TOTAL 11,200 11,000 22,200
20
ACCIONA ENERGIA: OUR EXPERIENCE IN AUSTRALIA . MARKET FRAMEWORK IN AUSTRALIA
Conclusions
From our experience, building community support is essential to carry out projects in renewables, with transparency and local added-value as useful tools
Acciona is a pioneering company in Australia with presence since 2002 and major projects in renewable energies, water services and infrastructure
Renewable developers are very dependent on a small group of utilities for PPAs purposes. The renewable support schemes may change with new Gov.
21
- Investors require off-take agreements and have interest in post-construction Recent transactions dominated by Asian investors