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LEADINGCOMPANYINTHE SOLARINDUSTRYWORLDWIDE
FRV’sexperiencewithlargescalesolarQLDLargeScaleSolarConference- 19July2016
Tableofcontents
1. FRVOverview
2. Projectsdelivered todate
3. Currentprojects
4. KeychallengesfacingtheLSSindustry
Premierglobalsolardevelopmentplatform
3
Firstmoverintonewsolarmarkets
TransitionfromEU->US->Australia,Africa,MiddleEast
&SouthAmerica
Technical/commercialexperts
>532MWconstructedandoperated
1st projectin2006
Economic(vs.subsidybased)businessmodelSolardeliveredatcompetitiveratestoareasthatneedpower
FinanceExpertsUSD2.4billionfinanced
Multi-lateral,DFIstructuring
StrongCoreShareholderAbdulLatif JameelInternationalDMCC
WORLDWIDE,HIGHQUALITYANDROBUSTPROJECTPORTFOLIOINATTRACTIVEMARKETS
Internationalfocus
FRVoffices Targetmarkets
4
Tableofcontents
1. FRVOverview
2. Projectsdeliveredtodate
3. Currentprojects
4. KeychallengesfacingtheLSSindustry
RoyallaSolarFarm
RSF– ProjectOverview
Site§ Locatedaround20kmSouthofCanberra,ACT
Plantrating§ 20MWacgeneratingcapacity
Keycomponents§ Fixedtiltstructures,Jinko modules,Ingeteaminverters§ Annualgenerationofaround39,000MWh§ 2x11KVundergroundcableconnectiontoTheodoreSS§ 1st LSScrystallinePVplantinAustralia,1st LSSrenewablegeneratorinACT
Financing§ 1st non-recourseprojectfinancedLSSPVplantinAustralia§ BackedbyCFDawardedinACTGovt.auction(20years,$186/MWh,flat)§ RSFwassoldtoDutchInfrastructureFund(DIF)inJan2016
MoreeSolarFarm
Site• 280hectaresitelocated10KMsouthofMoree,NSW
PlantRating• 56MWac(70MWdc– Ratio1.25)
KeyProjectComponents• 56xIngeteamIngeconSunPowerMaxinvertersin2MWblocks• 222,880xJASolar310/315Wppolycrystallinesolarmodules• 2785xNexTrackersingleaxisselfpoweredtrackers• ConnectedtotheEssentialEnergy66kVnetworkviaanew66/22kVswitching/substationand4kmofdualcircuit66kVOH/L
MSF- ProjectOverview
• 145,000MWh ofannualelectricitygeneration• Powering24,000averageNewSouthWaleshomes
MSF- ProjectOverview
• Reducesapprox.95kts ofcarbonemissionsp.a.• Savesapprox.165,000MLofwatercomparedtoacoalplantp.a.
• Stronglocalcommunitysupportoverseveralyears• 120(mostlylocal)jobscreatedduringconstruction(12months)• 5permanentjobsduringoperations• 2.1kmofpublicroadsupgraded
• 1st singleaxistrackingLSSplantbuiltinAustralia• 1st LSSprojectinAustraliafinancedonamerchantbasis• FinancingmadepossiblebystrongARENAgrantsupport• CEFCdebtsupport• FRVshareholdersupportcommittingtoaprojectinaperiodofhighindustryuncertainty
LINK TO GENERATION DATA
DevelopmentandconstructiontimeframesofRoyallaandMoree
MSFdevelopmentphase
2011 2012 2013 2014 2015 2016
RSFdevelopmentphase
MSFconstructionphase
RSFconstructionphase
Keyreasonsfordifferenceintimeframes:1. Policyuncertaintyà noofftake marketforMSFin2011-142. ConsortiumstructureforMSFàmultiplechanges
ExampleofalessonlearnedfromMoreeSolarFarm- Geotech
ØFindtherightpilingsolutionforthesoilandgeotech conditions
• Geotech surveyrevealedextremelyreactivedepositsofblackandredclayeysandandcoarsegravel
• Initialdesigns includedastandarddrivensteelpilefoundation, requiring33,000pilesatadepthof7m
• GoldCoastbasedcompanyBladePile,wereengagedbyGLCtofindanalternativesolution
• Reducedpilelength to2.4m,meaninglesssteel,lowerCAPEX,lessnoiseetc
• Pilesolution incorporated thetrackermounting structure
Tableofcontents
1. FRVOverview
2. Projectsdelivered todate
3. Currentprojects
4. KeychallengesfacingtheLSSindustry
ClareSolarFarm(QLD)
• Location: Clare,35kmwestofAyr,QLD• Permittingstatus:fullypermitted• CommercialOperation:late2017• Capacity:100MWac– T0Tracking• Connection:132kVtoPowerlinknetwork• ElectricityProduction:ca.260GWh p.a.• RevenueContracting:OriginEnergyPPAto2030
Lilyvale SolarFarm(QLD)
• Location: Tieri,50kmnorthofEmerald,QLD• Permittingstatus:fullypermitted• CommercialOperation: early2018• Capacity:100MWac– T0Tracking• Connection:66kVtoErgonnetwork• Production:ca.260GWh p.a.• Revenuecontracting:shortlistedbyErgonEnergy
Baralaba SolarFarm(QLD)
• Location: Baralaba,110kmSWofRockhamptonQLD• Permittingstatus:fullypermitted• CommercialOperation: 2018• Capacity:92MWac– T0Tracking• Connection:132kVtoPowerlinknetwork• ElectricityProduction:ca.235GWh• RevenueContracting:currentlyuncontracted
Tableofcontents
1. FRVOverview
2. Projectsdelivered todate
3. Currentprojects
4. KeychallengesfacingtheLSSindustry
Challenge#1:C&IsegmentoftheRETmarket
• RETneeds~6000-7000MWofnewprojectsinnext3years• LSSplantsarehighlycapitalisedassets,requiringlongterm
stabilityintheirrevenuestream(eitherPPAorfeed-intariff)• Retailersarewillingtocovertheirsmallcustomersthrough
longtermPPAs,whichisroughly50%ofthemarket• C&Icustomersprefershorttermcontractsandarenotsticky• LongtermPPAsnotavailableforroughly50%ofthemarket?
Ø Newideasneededtobridgethegapbetweenlargecustomers’needsvs LSSindustry’sneeds
Challenge#2:Lackofclearpolicybeyond2030
• RETendsin2030withnocertaintybeyondthis– nocarbonpricingregime,andnoLGCrevenueline
• ShrinkingLGCrevenueperiod+oversupplyofMWcapacity• FallingcostsofLSSmaynot offsetthelossofLGCrevenue• Pricesrequiredtodeliverprojectscouldremainflatoreven
increaseinthecomingyearsasaresult
Ø Needforclearpolicydirectionsaroundcoalplantclosureandcarbonpolicysettingstowards2030andbeyond
20
RecentInternationalSolarAuctionResults
20
LEADINGCOMPANYINTHE SOLARINDUSTRYWORLDWIDE
HeadquartersPrinsBernhardplein 2001097JBAmsterdamNetherlands
SpainofficeVelazquez105, 2nd floor28006Madrid
AustraliaofficeLevel 7,39MartinPlSydney, 2000
Level3,1060HayStPerth 6005WA
ItalyofficePiazzaVittorio Veneto1210123Torino
SouthAfricaofficeHamptonOfficeParkUnit 2AAtterburyHouse20GeorgianCrescentBryanston, Johannesburg,
BrazilofficeAv.SantosDumont,2828Conj.1406/1408TorreSantosDumontFortaleza– Ceara
MexicoofficeAv.SantaFe495,4ºpisoCol.CruzManca.Mexico D.F. – 05349
Dubaioffice16th Floor, JumeirahBusinessCenter.Cluster G,JumeirahLakesTowersDubai,UAE
UruguayofficeWorldTradeCenter.Tower3,office 1209.Avda.Dr.LuisAlberto deHerrera 1248.Montevideo 11300
Thankyou!
KillianWentrupHeadofDevelopment
