Dr. Rainer Kistner CSP for the US 28.3.2006
Contents The Conergy Group Voltwerk at a glance CSP Technology March 2006 CSP for the US 2
voltwerk is one of the four strong brands of the Conergy Group DMS&CS* Wholesale Engineering Projects Wholesalers Resellers End customers Investors Utilities/Governments R & D Manufacturing OEM Products Sales / Distribution PV Components Thermal Components Technical Services Grid-connected PV systems Solar power plants Plant engineering Project Development Equity & Debt financing Turnkey realization * Development, Manufacturing, Sales & Central Services March 2006 CSP for the US 3
Conergy is one of the leading solar companies worldwide Key facts 2005e Total sales ~ $ 630m EBIT ~ $ 33m Overview IPO: March 2005 Member of TecDax Employees: ~ 950 Market capitalization > $ 1000m Headquarter: Hamburg (Germany) International Subsidiaries: USA, Mexico Australia, Asia Spain, Portugal, France, Switzerland, Conergy s Target for 2008: 50% outside PV 50% internationale sales March 2006 CSP for the US 4
Conergy offers turn-key energy solutions Photovoltaics (PV) Solar thermal applications Wind Biomass March 2006 CSP for the US 5
as well as innovative state-of-the-art products and value adding services. Key products Branded PV modules Solar thermal collectors Inverters Mounting systems Electronic development Key services Small to large project engineering Project development and financing March 2006 CSP for the US 6
Contents The Conergy Group Voltwerk at a glance CSP Technology March 2006 CSP for the US 7
voltwerk develops, finances, constructs, and operates renewable energy projects March 2006 CSP for the US 8
Managing the complete added value chain in one hand, even most ambitious projects can be successfully realized. Project development Lease/ Purchase Grid Building permit Debt Financing Equity Construction Mech. inst. Elect. inst. Grid Connect. Technical O&M Operational Site qualification Land lease agreements Power Purchase Agreement Construction license Grid connection permit Foundation of SPVs Controlling Fund development Equity sales via closed funds Private placements Coordination Site supervision Quality inspection Accounting Shareholder meeting Contract controlling Monitoring Fault analysis Service and maintenance coordination March 2006 CSP for the US 9
voltwerk realizes the world's largest PV projects Michelin 55,000 PV modules 4 factory roofs with 200,000 sqm (40 soccer fields) Installed capacity of more than 9 MWp Electricity for approx. 2,500 households Largest and fastest rooftop refurbishment (105,000 sqm within five weeks) Investment volume of approx. 45 Mio. March 2006 CSP for the US 10
with a total installed capacity of over 40 MW PV plants Year Project Size Year Project Size 2005 Solar Generation Fund Solar Return Fund II 6.30 MWp 11.40 MWp 2001 Solarpark Markstetten Solarpark Söchtenau Solarpark Geißen 1.60 MWp 0.60 MWp 0.20 MWp 2004 1. Dreistädte Solarfonds 1.30 MWp 2000 Lübeck Solar I 0.05 MWp Solarpark Göttelborn 4.00 MWp Eppelheim Solar I 0.02 MWp Solarfonds Dreistädte II 1.70 MWp 1999 Caring for our future 0.03 MWp Solar Return Fund I 4.00 MWp Heidelberg Solar III 0.02 MWp 2003 Solarpark Saarbrücken I 1.40 MWp Heidelberg Solar II 0.02 MWp 2002 Solarpark Untergriesbach 1.70 MWp Heidelberg Solar I 0.02 MWp Solarpark Hemau 4.00 MWp Solarpark Sonnen 1.70 MWp Invested volume: 187,850,451 Installed capacity: 40.06 MWp March 2006 CSP for the US 11
From the beginning voltwerk diversified also in other renewable energies. Examples: Soltau & Wörbzig Project Site: Sachsen 12 turbines of 1,3 MW (68 m) 4 turbines of 2 MW (60 m) Total capacity: 23,6 MW Project Site: Sachsen-Anhalt 18 turbines V66 à 1.650 kw Height: 67 m Capacidad total: 29,8 MW March 2006 CSP for the US 12
and financed 140 MW of wind parks (until 2005) Año Proyecto Capacidad Año Proyecto Capacidad 2005 Windpark Soltau Windpark Würzburg 23.6 MW 56.0 MW 2001 Windpark Glaubitz Windpark Thallwitz 10.2 MW 1.2 MW 2003 Windpark Wörbzig II 14.9 MW 1999 Windpark Wimmelburg 2.0 MW Windpark Beesenstedt 10.0 MW Windpark Selben II 2.0 MW WEA Mark Flickert 1.0 MW 2002 Windpark Wörbzig I 14.9 MW 1996 Windpark Selben I 0.8 MW WEA Viesen 1.5 MW Investment volume: approx. 155 Mio. Capacity: 140 MW March 2006 CSP for the US 13
voltwerk successfully entered in the biomass sector Biomass market entry in Q1/2005 Acquisition of key technology Building-up of an expert team Two projects completed in Q4/2005 ~ $ 200 Mill. total investment volume March 2006 CSP for the US 14
Contents The Conergy Group Voltwerk at a glance CSP Technology March 2006 CSP for the US 15
The CSP technology might be one of the most mature energy technologies Archimedes II. Century BC Galleria degli Uffizi XVI. Century Atanasius Kircher XVII. Century Peter Hoesen - XVIII. Century IIX Century BC until today Ignition of the Olympic Fire March 2006 CSP for the US 16
voltwerk concentrates on line-focusing systems Technology has proven its market maturity and reliability in large projects Today s line focusing system incorporate over 20 years of technology improvement Uses low-tech resources (glass, steel, concrete) High accurate optics at high temperature Long lasting reflectivity of material; low degradation High-tech energy storage system Proven thermal power plant technology March 2006 CSP for the US 17
Contents The Conergy Group Voltwerk at a glance CSP Technology 1-5 MW: Organic Rankine / Combined Processes 5-30 MW: Direct Solar Steam Generator 30-50 MW: Standard Rankine Processes > 100 MW: Hybrid Processes March 2006 CSP for the US 18
Oil tank Solar field Vaporizer Pre-heater G Gen Set Recuperator Back Air condenser Organic Rankine March 2006 CSP for the US 19
Recuperator G Heat exchanger Back Comb. Heat Power March 2006 CSP for the US 20
Recuperator G Absorp. chiller Back Comb. Cool Power March 2006 CSP for the US 21
Contents The Conergy Group Voltwerk at a glance CSP Technology 1-5 MW: 5-30 MW: 30-50 MW: > 100 MW: Organic Rankine / Combined Processes Direct Solar Steam Generator Standard Rankine Processes Hybrid Processes March 2006 CSP for the US 22
Solar field Steam drum Super-heater Condenser G Gen Set Back Feed water heating Direct Solar Steam March 2006 CSP for the US 23
Contents The Conergy Group Voltwerk at a glance CSP Technology 1-5 MW: 5-30 MW: 30-50 MW: > 100 MW: Organic Rankine / Combined Processes Direct Solar Steam Generator Standard Rankine Processes Hybrid Processes March 2006 CSP for the US 24
Oil tank Solar field Re-heater Super-heater Condenser Vaporizer Pre-heater Gen Set Back Feed water heating Solar Only March 2006 CSP for the US 25
Fossil heater Back Hybrid Power Plant March 2006 CSP for the US 26
Storage system Back Thermal Storage March 2006 CSP for the US 27
Contents The Conergy Group Voltwerk at a glance CSP Technology 1-5 MW: 5-30 MW: 30-50 MW: > 100 MW: Organic Rankine / Combined Processes Solar Steam Generator Standard Rankine Processes Direct Hybrid Processes March 2006 CSP for the US 28
Solar field Steam drum Fossil fired boiler Condenser G Gen Set Feed water heating Solar Pre-heating March 2006 CSP for the US 29
Our role: Offering support for fast project development Identification of adequate sites for solar thermal power projects Determination and measurement of direct normal irradiance Selection of grid connection point, water & fuel supply source Analyses of appropriate solar thermal power technology & operation strategy Detailed assessment of technical, economic and financial conditions Development of a concept of financial engineering March 2006 CSP for the US 30
and looking for strategic partnerships to accelerate the realization of solar thermal power plants Site survey / site qualification Pre-engineering Permitting Financing EPC O&M March 2006 CSP for the US 31
US will be the key market for new CSP plant developments Increasing gas prices Increasing electricity demand Need for clean energy 15 12.5 10 Natural Gas Spot Price (Henry Hub) $19.38/mmBtu (2/25/2003) Uncertainty of level and volatility of future energy prices Demand for decentralized systems Abundant solar radiation Availibility of perfect project sites $/mmbtu 7.5 5 2.5 0 January-91 January-92 January-93 January-94 January-95 January-96 January-97 January-98 January-99 January-00 January-01 January-02 January-03 January-04 Source: Bloomberg January-05 March 2006 CSP for the US 32
Voltwerk offers a highly attractive investment case. 1. 2. Experienced, entrepreneurial management team Leading position in exciting solar energy market 3. Proven ability to organize financing 4. Strong track record of profitable growth 5. Ideally positioned for further international & product expansion March 2006 CSP for the US 33
Thank you for your attention. voltwerk AG Anckelmannsplatz 1 D - 20537 Hamburg Tel. +49 (0)40 / 2371 02-300 Fax +49 (0)40 / 23 71 02-333 info@voltwerk.de www.voltwerk.de March 2006 CSP for the US 34