Energy Investment Company

Transcription

1 Energy Investment Company Investment Strategy Resource Centre A Circular Economy Model Laâyoune Business Case Birkenfeld - December 2011

2 Agenda An accelerated social and economic development SIE presentation and investment strategy Resource Centre - Laâyoune Business Case

3 An accelerated social and economic development Morocco in move To the integrated sustainable development Alternation Advisory Human Right Council (CCDH) Communal Chart Press Code Family Code Moudawana Equity & Reconciliation Instance (IER) Oulémas Committee Election Code National Initiative for Human Development (INDH) Nationality Law Central Instance for Prevention of Corruption New sectorial strategies Energy Plan vert Emergence Tourism Infrastructures Consumer Protection Law Environment Chart Constitutional Reform New legal and institutional frameworks

4 * Source : All figures provided by Ministry of Energy, Mines, Water, and Environment An accelerated social and economic development 10% CROISSANCE DUPIB 5% EN MOYENNE 5% 0% GDP Growth 5% average Electric demand growth (GWh) 6,5% Growth in primary energy demand (TEP) 5,3% / year % / year Produits Pétroliers Charbon Hydraulique Gaz Naturel Electricité importée Eolien Electric demand growth 6,5 %

5 An accelerated social and economic development National Energy Strategy Sustainable development 1 A global integrated concept with several dimensions objectives 1 SECURITY OF SUPPLY AND AVAILABILITY OF ENERGY 2 WIDESPREAD ACCESS TO ENERGY AT REASONABLE PRICES MASTERY OF THE DEMAND 4 PRESERVATION OF THE ENVIRONMENT

6 An accelerated social and economic development Moroccan Government, at all levels, is aligned to develop its renewable energy capacity under the current National Energy Strategy National Energy Strategy Targets by 2020 Programs and projects 42 % contribution of RE to global electrical installed capacity 14% contribution in the energy mix Wind Energy MW Integrated Wind Program (ONE) MW EnergiPro program (Private sector) MW 15% of energy savings 3x Solar Energy (MASEN) MW Evolution of installed power structure Hydro Power MW Energy Efficiency 15 % Industry 48 % Transport 23 % Residential 19 % Tertiary 10 %

7 Agenda An accelerated social and economic development SIE presentation and investment strategy Resource Centre - Laâyoune Business Case

8 SIE presentation and investment strategy SIE grants priority to investments in RE projects including, Solar, Wind, Biomass and Hydro Founded in February 2010, by the Kingdom of Morocco, SIE is the investment institution to accompany, support and promote Morocco s strategy in the sector of energy Identification Chart Legal status Stat limited liability company Date of creation February 2010 Initial Capital 1 billion Dirham (~ $100 M) Legal creation Under Decree N SIE objectives Governance Shareholders Board of directors Government, Hassan II Fund Support National Development Plan for Renewable Energy (RE) with high environmental standards Promote RE resources and improve Energy Efficiency (EE) Invest in projects that contributes to increase energy production capacity, acting as the cornerstone investor. Meet industrialization challenges for various clean technologies prioritized within the energy strategy of the country

9 SIE presentation and investment strategy SIE is the lead co-investor and is closely involved in the major RE and EE programs in Morocco Support National Energy Programs Development of MW Integrated Wind Programme in partnership with ONE Supporting private initiatives compared to 1309 law (incl MW Wind Energy) Supporting in MASEN MW initiative Promoting energy efficiency through the backup of ADEREE actions as lead co-investor Promote local energy sources Contribution to regional development Promoting industrial integration Strengthen the entire chain of value locally SIE finances a biomass program (biogas capture) Anticipate trends & identify investment opportunities Undertake business intelligence activities and incubation studies to: Identify and develop RE sources with high potential for Morocco Conduct pilot projects where appropriate in Clean Technologies

10 SIE presentation and investment strategy SIE leverages its funds to support private investment sector Adoption of a fund of funds structure to mobilize resources of private capital SIE fund is comprised of funds of funds, each backed by cornerstone investment to be matched or exceeded by institutional and private capital Institutional first class investor involvement National : Attijariwafabank, Banque Populaire, BMCE bank, CDG, CMR, Crédit Agricole, Wafa Assurance, International : AFD, BAD, BEI, KFW, World Bank, First two investment vehicles already underway Renewable Energy programs Fund Energy Efficiency Fund

11 SIE presentation and investment strategy Governance of Funds inline with international standards

12 SIE presentation and investment strategy Renewable Energy Fund - REF The management of the Fund is done through a specialized Management Company selected after an international competition. The Consortium La Compagnie Benjamin de Rothschild, Ascent Capital Partners and Akuo Investment Management has been awarded The Consortium will have various roles in particular to: (i) Participate in Fund raising of the REF and interact with its investors (ii) Identify and assess fund investment opportunities (iii) Determine the mode of acquisition, management and disposal of the fund assets. The management of the REF will be insured, operating in close proximity of the SIE, in terms of research and access to investment opportunities as well as in the execution of the transactions that follow.

13 SIE presentation and investment strategy Renewable Energy Fund - REF Activity Active investments in renewable energy projects Funds size Legal form 1 to 2 billion DH with 50% issued from Moroccan investors, and 50% from International investors Moroccan funds Co-investment in a secured mode Sponsor SIE is the Cornerstone SIE sharing SIE co-invests up to 20% of Moroccan part One to One matching with international investors up to limit Duration 7 to 10 years Management Management support The Management Company is owned by La Compagnie Benjamin de Rothschild and Ascent Capital Partners, based in Casablanca The Management Team with a strong expertise complies with global standards of governance, reporting & accountancy Governance Board and Investment Committee with Reknown Managers and Advisors

14 Agenda A new dynamic in Morocco Energy strategy and investment opportunities Resource Centre - Laâyoune Business Case

15 Resource Centre - Laâyoune Business Case Laâyoune description The city of Laâyoune ( inhabitants) is located in Southern Morocco in the region of Laâyoune-Boujdour-Sakia El Hamra The region is known for its long Atlantic coastline (500 Km), dry climate (Sahara like), very hot summers, permanent sunshine and very low rainfall (average annual rainfall about 60 mm) Sometimes violent and heavy winds are very often steering NNE-SSW which is considered as the main cause of silting

16 Resource Centre - Laâyoune Business Case Introduction to the business case IfaS and IfaS Maghreb have developed a new concept of integrated management resources for water, energy and waste. Circular Economy is the concept basis of the project. The idea of developing a center of resource in Laâyoune has leaded to consider different and important components : Valorization and treatment waste Wind energy production Biomass production (energetic plants) including wastewater treatment and valorization

17 Resource Centre - Laâyoune Business Case The development of a resource center in Laâyoune in line with the national development policy of the Southern of Morocco National Chart for Environment and sustainable development is adopted and respected by the whole actors

18 Resource Centre - Laâyoune Business Case Different steps of the project The development of the resource centre

19 Heat Glass,metal,plastic Vegetable oil Organic waste Electricity Solid waste Purified waste water Electricity Sewage sludge Resource Centre - Laâyoune Business Case Resources Centre Bricks Waste water Primary Treatment Waste water Secondary treatment Agriculture, Industry & residential sector Sand screen Wind farm Public network Treatment Humus substrate Waste Treatment Cogeneration Jatropha plantation Household biogas unit Digestate Waste cake Jatropha nuts Recycling Drying & cooling process Oil mills

20 Resource Centre - Laâyoune Business Case A circular dynamic Treatment of waste Treatment of wastewater Production of Electricity and Biogas Economic Development Employment Social Development Better quality of life Improvement of environment conditions Reduction of energy bill

21 Resource Centre - Laâyoune Business Case Proposed site for pilot plantation of Jatropha Pilot Planting 1 ha Sewers Planting 10ha Hassan II Airport Landfill Treatment of organic wastes

22 Resource Centre - Laâyoune Business Case Objectives of the resource Center Project To reduce pollution from surface and groundwater resources by reutilization ant treatment of wastewater To reduce environmental impact on the quality of water, air and soil by treatment and valorization of wastes To promote energy self production by valorization of renewables resources and wind farms exploitation To extend the lifetime of the new waste land-fill site To limit desertification by cultivating energy source plantations To increase added value for all the region of Laâyoune To create employment

23 Resource Centre - Laâyoune Business Case An interesting investment opportunity A high-potential project This project will allow Based on mature technologies Highly experienced partners Strong support by local Authorities A benefic sustainable development Supported by SIE A local improvement of the quality of life Abundant natural resources

24 THANK YOU! Investing in a sustainable future Contact : contact@siem.ma Tel : +212 (0) / 24 Fax : +212 (0) , avenue Abderrahim Bouabid Secteur 10, Bloc D Hay Riad - Rabat Morocco