PUMPED-STORAGEPOWER PLANT Molln / Pfaffenboden. Investment Opportunity. istock

Transcription

1 PUMPED-STORAGEPOWER PLANT Molln / Pfaffenboden Investment Opportunity istock

2 fotolia

3 Invest in the future PUMPED-STORAGEPOWER PLANT Molln / Pfaffenboden The green battery in the heart of Europe Supplying energy amid today s structural change European framework conditions Renewable energies will prevail in the coming decades. The 2015 UN Climate Summit in Paris confirmed the path being taken. In Europe, fossil-fuel and nuclear power plants are to be increasingly sidelined by wind power, solar power, and hydropower. Through its climate and energy policies, the European Union is working to cut greenhouse gas emissions drastically and increase significantly the share of renewable energies by In Germany, Austria s most important energy partner, the transition as regards the supply of energy is proceeding at a particularly brisk pace. Germany will cease all nuclear power production by as early as The energy deficit cause by this will be made up for by fluctuating, regenerative energies. In 2035, 60 percent of electricity will be produced using renewable energies. Renewable energies mean that the production of electricity is both decentralised and increasingly volatile, a fact which needs to be addressed to ensure security of supply. Volatile production makes it possible to make lucrative use of storage power plants through sharp intraday price fluctuations and high prices for energy to stabilise the network (in 2014 alone, the market volume of energy to stabilise the network in Austria [control energy] came to EUR 200 million). Pumped storage is the only tried-and-tested, large-scale means of storing and deploying electricity quickly and flexibly. Pumped storage projects are therefore a key partner in the energy transition.

4 PROJECTOVERVIEW Innovative energy management lucrative investment The Molln / Pfaffenboden pumped-storage power plant is centrally located, close to the border with Germany. This enables the storage plant to be connected to the German transmission grid and, as a consequence, to achieve longterm profitability. Work on building the Molln / Pfaffenboden pumped-storage power plant can begin at any time it will take around four years to complete. All of the necessary planning permissions have been granted and land availabilities secured. A 220kv overhead power line already exists at the site grid access has been contractually secured and the substation approved. The framework infrastructure conditions for the current mining and construction company at the location, as well as the building preparation work already performed, mean that construction work can be carried out efficiently, with lower risk, and with lower investment costs. The Molln / Pfaffenboden pumped-storage power plant is particularly flexible in terms of its system management, being able to respond quickly to changes in the electricity market. This means that it is possible to trade with all different types of electricity day-ahead, intraday, balancing energy in a commercially viable way.

5 shutterstock Day-ahead: constant development of market volumes Intraday: Increase in market volumes of 30 % from 2014 to 2015 due to greater volatility Control energy: Market volumes of EUR 200 million (2014) and 600 GWh sold per year Power plant output Number of turbines/ output Technical parameters 300 MW 2 x 150 MW The Molln / Pfaffenboden pumped-storage power plant is a long-term investment. The Molln / Pfaffenboden pumped-storage power plant will be implemented through a joint project company, proportionally sharing both the costs and the risks. Flexible control range Operating times: Turbine operation & pump operation Volume of upstream water storage Efficiency ratio +/- 300 MW 6 / 8 hours 1,24 million m 3 75 % 71.9 percent of the shares are available for option and the minimum investment volume is 10 percent. The operator model is flexible and based on a jointly prepared electricity management contract. Drop height Construction time: approx. 4 years 650 m

6 POWER PLANTDIAGRAM Molln / Pfaffenboden pumped-storage power plant Power plant output 300 megawatts (MW) Pump operation It takes eight hours until the storage facilities are full. If other power plants produce too much electricity, the water is pumped underground into four storage tunnels with no impact on the environment. Storage tunnels Length Diameter 1,5 km 16 m The caverns are remnants of the former limestone quarry. Tran Turbine operation Six hours is long enough to produce green electricity for 150,000 residential and industrial customers. A large part of the power house is situated underground.

7 Lower Austria GERMANY 380 kv Upper Austria Linz Amstetten 220 kv Molln/ Pfaffenboden Salzburg Electricity network An existing 220 kv power line is located directly on site. Salzburg Styria Leoben Carinthia nsformer Pump turbine In case of shortages, the turbine is used to provide control energy from renewable sources (wind and solar power) at short notice. APA-AUFTRAGSGRAFIK Reservoir (former gravel pit)

8 Klaus Rohregger

9 TOPPRIORITY High on the list of priorities of the European Commission implementation with strong partners The European Commission intends to trigger EUR 300 billion of growth-driving investment. The Molln / Pfaffenboden pumped-storage power plant has been technically and economically tested and advocated by the European Commission, and officially added to the list of projects of common interest (PCI). The experienced and capable project partner Wien Energie GmbH will help minimise the risk. With a turnover of EUR 1.8 billion, Wien Energie can be counted among Austria s top 30 companies in terms of turnover. Wien Energie is responsible for ensuring the reliable supply of electricity, natural gas, heating, and cooling to two million people, 230,000 businesses and industrial facilities, as well as 4,500 farms in the Greater Vienna metropolitan area. Wien Energie employees 2,690 people. Wien Energie plans, builds and operates highly efficient power plant blocks to ensure security of supply, and has many years of experience in both energy management and electricity trading. As a renowned medium-sized Austrian company, Bernegger GmbH operates in the entire commodities cycle in the commodities sector, construction industry and the area of environmental technology. It has around 650 employees at 17 different locations. It is headquartered in Molln, offering the optimum conditions in terms of topography and infrastructure for the pumped-storage power plant. The company s operational infrastructure and depth of expertise in the mining and construction industry guarantee that the project will be efficiently implemented.

10 MARKETFLEXIBILITY Day-ahead / Intraday trading Intraday Day-ahead Intraday share rises schedules per day Day-ahead share falls : Austrian Power Grid AG Volatile electricity production means that the volume of short-term trading products is rapidly increasing. This was the reason why intraday trading in 2012 doubled in just six months. The 15-minute intraday trading market has been liquid since the middle of 2013.

11 DISCLAIMER Wien Energie GmbH ( Wien Energie ) und Bernegger GmbH ( Bernegger ) have issued this teaser in connection with the proposed partial sale of pumped-storage power plant Pfaffenboden ( Transaction ). This teaser is delivered on the condition that it is held in confidence by you. Unless not otherwise agreed in writing by Wien Energie and Bernegger beforehand, this teaser must not be disclosed to any other person in whole or in part. Neither Wien Energie nor Bernegger give any representation or warranty as to the achievement or reasonableness of future projections, estimates, prospects or returns contained in this teaser, if any, or the accuracy or completeness of any information contained in this teaser. Wien Energie and Bernegger disclaim any liability in relation to this information. This teaser is not an offer by Wien Energie and/or Bernegger to sell securities or assets. Wien Energie and Bernegger will only accept obligations that arise out of a definitive and binding sale and purchase agreement. The provision of this teaser does not place Wien Energie and Bernegger under any obligation to provide any further information in relation to the Transaction or to update this teaser and does not place Wien Energie and Bernegger under any obligation to consider or accept any offer.

12 Wien Energie Thomas-Klestil-Platz Vienna Austria DI Mag. Gudrun Senk Telefon: +43 (0) Mag. Christian Kopecek, MSc. Telefon: +43 (0) Wien Energie, a partner of EnergieAllianz Austria.