Norwegian Solar. Investor Presentation 23 September 2016

Transkript

1 Norwegian Solar Investor Presentation 23 September 2016

3 About : Norwegian Solar AS Norwegian Solar is a recently formed privately owned company with its headquarter is Oslo, Norway. With an focused global approach, the company is growing steadily building and financing solar projects world wide. Norwegian Solar is an integrated independent solar EPC Company. Our business model creates great advantage for the customer with our Unique Financing Opportunity. Copyright 2016 Norwegian Solar AS 3

4 Presentation index About Norwegian Solar Vision & Mission Company structure Group Company Norwegian Solar India Norwegian Solar America Norwegian Solar Malta Market opportunities EPC Financing Norwegian Export Credit and GIEK REC reference letter Management team Financial Results What we offer Copyright 2016 Norwegian Solar AS 4

6 Vision To be one of the unique leading global EPC company offering innovative financing for Solar Power Projects. Mission Is to build and finance Solar Power Projects Globally with high quality standards in a timely manner. Copyright 2016 Norwegian Solar AS 6

7 Management team Nils-Ivar Dyngeland CEO & Founder r.no Ole Henrik Lund CFO lar.no Lode Carnel CTO Dan Lyngmyr VP Communication Vijay Sharma VP Marketing Asia r.no Xavier Dequaire System Engineer lar.no Ketil Horn MD America Copyright 2016 Norwegian Solar AS 7

9 REC support PHENIX POWER PLANT ITALY LARGE SCALE SYSTEM INSTALLATION BY REC Constructed in only four months through EPC-consortium At completion, largest lease financing solution for a solar project in Italy Financing and sale completed before start of construction 24 18,500 SOLAR MW SYSTEM SIZE TONS CO 2 SAVED ANNUALLY 100,000 PANELS INSTALLED POWER PLANT INSTALLATION Copyright 2016 Norwegian Solar AS 9

10 Partners - legal SCHJØDTS TEAM Vi foreslår et team for Norwegian Solar AS som er forankret i både vår fornybar og Clean-Tech miljø, og vårt corporate/m&a -miljø og vårt skattemiljø. Teamet vil selvsagt trekke på ressurser fra øvrige personer og fagmiljøer ved behov. En kort presentasjon av foreslåtte hovedkontakter følger nedenfor. Teamet som vil bli satt opp i den enkelte sak vil variere med sakstypen, og vil etableres i diskusjon med Norwegian Solar AS i den enkelte sak ettersom det er behov for det. Vi har flere svært dyktige advokater og yngre advokatfullmektiger og disse vil allokeres i forbindelse med de konkrete oppdragene. Vi har derfor ikke i tilbudet her inkludert annet enn de foreslåtte hovedkontaktene. Dette fordi vi da kan velge den advokaten som ut fra kunnskap, erfaring og kapasitet har best forutsetninger for å kunne løse oppdraget på best mulig måte for klienten. Dette gir dere som klient bedre kvalitet, servicegrad og kostnadseffektivitet. SVERRE B. BJELLAND Sverre er spesialisert innenfor olje- og gass og fornybar energi, og har bred erfaring innen alminnelig kontraktsrett og forvaltningsrett. Han har vært Vice President i Statoils juridiske avdeling og har hatt lederansvar for juridisk bistand til Statoils oppstrømsvirksomhet på norsk kontinentalsokkel og forretningsområdet markedsføring, prosessering og fornybar energi. Han har arbeidet i Kluge advokatfirma og som underdirektør i Petroleumsjuridisk seksjon i Olje- og energidepartementet. Sverres juridiske kompetanse dekker en stor bredde innen olje- og gassindustrien. ROBERT ROMANSKY Robert arbeider med fusjoner og oppkjøp samt kontraktsrett, selskapsrett og børsrett. og bistår selskaper med transaksjoner både på og utenom børs. Han bistår selskaper ved et vidt spekter av kommersielle forhold, slik som oppstart av virksomhet, forhandling og inngåelse av ulike typer avtaler, som feks joint venture- eller ksjonæravtaler, investeringsavtaler, franchise eller forhandleravtaler, ved finansiering eller emisjoner, ved integrering av virksomheter ved fusjon mv og ved salgs- eller kjøpsprosesser med budgiving, due diligence og forhandlinger. ANDERS GULLÅSEN Anders Gullåsen har arbeidet med finansrett i snart 15 år og har betydelig erfaring innen alle typer finansieringstransaksjoner med hovedfokus på fremmedkapital (herunder obligasjonsfinansiering) og bistår låntakere så vel som banker og finansinstitusjoner. Han har også betydelig erfaring med finansielle derivater, leasing og verdipapiriseringer. THOMAS AANMOEN Thomas har vært partner i Schjødts avdeling for M&A og Kapitalmarkeder siden Han er cand jur fra Universitet i Oslo, og begynte i Schjødt i Thomas har sin spesialisering innenfor kapitalmarkedstransaksjoner, aksjeselskapsrett, børs-og verdipapirrett, fusjoner og oppkjøp, regulatoriske spørsmål, samt generell juridisk/ kommersiell rådgivning. Thomas har svært omfattende erfaring fra rådgivning knyttet til egenkapitalfinansiering, børsnoteringer, M&A og regulatoriske spørsmål Copyright 2015 Norwegian Solar AS 10

12 Norwegian Solar AS - Norway The Norwegian company role is: Global Group Company Main partner supplier agreements Coordination of Global Markets Group resource allocations and HR Client acquisition process Coordinate guarantee and export finance Copyright 2016 Norwegian Solar AS 12

13 Norwegian Solar America America Regional Company Regional contractor agreements Coordination of America Markets Client acquisition process American region Strategic relations with WB & IFC, USAID STATE CORPORATION COMMISSION Richmond, October 6, 2016 This is to certify that the certificate of incorporation of Norwegian Solar Americas, Inc. was this day issued and admitted to record in this office and that the said corporation is authorized to transact its business subject to all Virginia laws applicable to the corporation and its business. Effective date: October 6, 2016 State Corporation Commission Attest: Clerk of the Commission [] CISECOM Copyright 2016 Norwegian Solar AS 13

14 Norwegian Solar Europe Europe Regional Company Regional contractor agreements Coordination of South East Europe Project opportunities in Albania Statkraft 400 MW Hydro Huge Solar Opportunity Coordinate the MEA Market Develop the African Market from Europe Copyright 2016 Norwegian Solar AS 14

15 Norwegian Solar India - Indian Company Regional EPC sub contractor agreements Coordination of Indian Region Markets Group EPC coordination embedded in all regional markets Bangladesh, Thailand, Philipines ++ Client acquisition process Asia region Copyright 2016 Norwegian Solar AS 15

16 Why India and what we are Looking for? Market One of the biggest Solar Markets in the World Most cost competetive High Engineering Expertise and low cost. Partners Project opportunities Experience in EPC Capacity to grow Global cooperation Risks Partner Risks Banking Risks Hedging Risks Environmental Risks Norwegian Solar what we offer Unique long term financing Low cost of financing Unique Expertice Quality products Global Business Presence Copyright 2015 Norwegian Solar AS 16

19 Solar Market will dominate the future energy market 19

21 Norwegian Solar s Position in the Solar Market Value Chain Develop & Finance Construction O & M Production Equipment Manufacturing Project Development Financing Construction Operation IPP Chemical processing & assembly Rapid technology development Cost reductions Site development System design Business case Permitting Grid connection PPA negotiation / tender / Feedin Tariff secured Detailed engineering Component tendering Debt / equity structuring Due-diligence Project management Supplier and construction monitoring Quality assurance Funding and cash-flow management Maximize performance and availability Maintenance and repair Asset management Financial and operational optimization Copyright 2016 Norwegian Solar AS 21

22 Production of Solar Mounting kits in Norway Our local production will first be for our own solar parks, but second phase will be for the global solar market cost of aluminum is the same all over the world. But with our future robotic production line will make us competitive. Copyright 2016 Norwegian Solar AS 22

23 Export models Norwegian Content Requirement 30% Norwegian Content : 1. Solar Module from Rec Solar Ltd.Ptd 8 % 2. Solar Mounting Kit from Norwegian Solar AS 10 % 3. Inverters from Eltek ASA 8 % 4. Project Main Contractor 9 % Copyright 2016 Norwegian Solar AS 23

24 Financial structure plan Norwegian Solar provides with 4 financial structure plans: A: Warranty from GIEK B: Loan from Norwegian Export Credit with a guarantee from GIEK C: Private bank (together with Norwegian Export Credit) with guarantee from GIEK D: Facility of Equity support from 3 rd party investor Copyright 2016 Norwegian Solar AS 24

25 Financials 5 year - Valuation Total Market USA % India % Malta % Africa % Total MW % EPC Price USD Net result MUSD 9,63 35,70 70,35 98,70 110,25 325,50 Net result MNOK PE*2;5 MUSD 814 PE*2,5 MNOK 6705 Copyright 2016 Norwegian Solar AS 25

27 Why Norwegian Solar? Most competitive EPC in the Market High quality engineering and equipment Highly attractive financial terms and conditions Dedicated global team support For a brighter future together Copyright 2016 Norwegian Solar AS 27