0
Renewables Business
Renewables              Key Figures                                2011 KEY FIGURES      2011 EBITDA Breakdown            ...
RenewablesStrategic Fit           General Performance Criteria         Moderation of growth and capex volume         Focus...
Renewables    Regulatory Environment                 Regulatory environment           • Moratorium declared for new invest...
Renewables                              Investment Plan 2012-14                                                           ...
Renewables        Investment Plan 2012-14            1,450 MW to be installed during the period  New Installed capacity 20...
Renewables         Business Evolution        Transformation from a business consuming cash flows                  to a str...
RenewablesBusiness Evolution                Strong revenue stability          results in a quasi-regulated business       ...
Renewables          Spanish Business                   Consolidation of leadership position                Vision         ...
Renewables business          USA Business                Consolidation of second operator position                Vision  ...
Renewables          United Kindgom Business                           Growing and stable market              Vision       ...
Renewables         Latam Business  Selective growth in countries with potential in the short term                Vision   ...
Renewables         Off-shore Business                Offshore technology has already taken off   Offshore installed capaci...
Renewables                       Off-shore Business                                         Prudent Strategy              ...
Renewables            Efficiency           EBITDA improvement through revenue improvement…                                ...
Renewables             Efficiency                         … and costs optimization …                                 Trigg...
Upcoming SlideShare
Loading in...5
×

Renewables business

339

Published on

Results Presentation Nine Months 2012

Published in: Business
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total Views
339
On Slideshare
0
From Embeds
0
Number of Embeds
0
Actions
Shares
0
Downloads
5
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Transcript of "Renewables business"

  1. 1. Renewables Business
  2. 2. Renewables Key Figures 2011 KEY FIGURES 2011 EBITDA Breakdown Operating Data Latam Installed Capacity (MW) 13,690 Spain Spain 5,875 12% USA 5,284 United Kingdom 1,041 Latam & Others 1,489 45% 31% Production (GWh) 28,721USA 12% Employees 2,185 United Kingdom EBITDA (Eur M) 1,456 Capex (Eur M) 1,169 2
  3. 3. RenewablesStrategic Fit General Performance Criteria Moderation of growth and capex volume Focus investments on strategic markets Strong cash flow generation New areas crystallization Launching offshore business Efficiency in operations: Income & Expenditure 3
  4. 4. Renewables Regulatory Environment Regulatory environment • Moratorium declared for new investments Spain • Lower needs to fulfil 2020 emission targetsUnited • Post 2013 regulatory framework pendingStates • Energy prices pressured by Shale Gas United • Renewable Obligation defined until 2017Kingdom • Post 2017 regulatory framework pending (EMR) • Brazil: Renewable target 27 GW in 2020 Latam • Mexico: Opportunities in competitive conditions 4
  5. 5. Renewables Investment Plan 2012-14 Eur 2.6 bn in this period Capex (Eur M) Capex (Eur M) Wind 1,500 onshore 1,900 Wind 1,000 (*) offshore 1,000 800 800 Asset improvements & 100 others 2009-11 2012 2013 2014 annual Versus Eur 1.9 bn annually in 2009-11(*) Includes ~Eur 250 M. related to several projects entering into operation after 2014 5
  6. 6. Renewables Investment Plan 2012-14 1,450 MW to be installed during the period New Installed capacity 2012-14 Key Factors USA Sustained growth in UK and selective growth in Latam (~70% new capacity)Latam 14% 27% Spain Spain and USA, 14% completing sites already in progress Bulk of new capacity in 2012 45% First offshore wind farm in 2014 United Kingdom (West of Duddon Sands - 200 MW - UK)Risk minimization, revenue predictability and short construction period 6
  7. 7. Renewables Business Evolution Transformation from a business consuming cash flows to a strong cash flow generatorCash-flow Generation (Eur M) Ebitda by Geography (2014) Latam 17% 1,600 40% Spain 4,200 United 18% Kingdom 2,600 25% FFO Net FCF USA Investment … due to revenue stability and geographic diversification 7
  8. 8. RenewablesBusiness Evolution Strong revenue stability results in a quasi-regulated business Production Hedge or fixed Market (%) (%) price (%)Spain 37% = 37% + ---USA 46% = 41% + 5%UK 8% = 8% + ---Latam &Others 9% = 8% + 1%TOTAL 100% = 94% + 6% 94% of estimated production is covered by fixed tariffs, long term contracts or hedges 8
  9. 9. Renewables Spanish Business Consolidation of leadership position Vision Actions Growth limitation RAIPRE 2012 finalization• Moratorium declared for new investments New Capacity 2012-14: 200 MW• Demand decrease and lower needs to Capex 2012-2014: Eur 300 M fulfil 2020 emissions target• Long term, place for renewables with Project Pipeline rationalization: higher competitiveness requirements 1.5 GW reduction (competition with rest of technologies) Focus on higher quality projects, more competitive in market conditions 9
  10. 10. Renewables business USA Business Consolidation of second operator position Vision Actions Limitation of growth to profitable projects with PPA• Post 2013 regulatory framework New capacity 2012-14: 200 MW pending• Energy prices pressured by Shale Gas 2012-14 Capex is basically offset• Long term growth potential by ITC incomes maintained Project Pipeline rationalization: 10 GW reduction Focus on projects in states with better outlook 10
  11. 11. Renewables United Kindgom Business Growing and stable market Vision Actions 2.1 GW onshore pipeline with high quality and higher success rate than average• Renewable Obligation defined until 2017 New Capacity 2012-14: 650 MW Capex 2012-14: Eur 1,500 M• Grandfathering mechanism for investments already made First off-shore wind farm in 2014: 200 MW• Efforts to provide regulatory visibility Round 3 Development for future investments Operating cost improvement and• Renewable target 38 GW in 2020 maximization of availability Other renewable technologies development: wave, tidal, … First onshore renewable operator 11
  12. 12. Renewables Latam Business Selective growth in countries with potential in the short term Vision Actions New Capacity 2012-14: 400 MW Capex 2012-14: Eur 600 M• Brazil and Mexico, countries with higher potential• Brazil: Renewable Target 27 GW in Higher Load factor for new capacity 2020 (34%) versus 24% average in 2007-2011• Mexico: Opportunities in competitive conditions Operating cost improvement and maximization of availability 12
  13. 13. Renewables Off-shore Business Offshore technology has already taken off Offshore installed capacity (GW) Key markets United Kingdom + 4 GW 7.5-8 • First mover 5.5-6 • 2020 target: +11-15 GW + 2 GW 4.2 3.1 2.1 Germany 1.51.1 • Strong future development • 2020 target: +10 GW2007 2008 2009 2010 2011 2012E 2013E 13
  14. 14. Renewables Off-shore Business Prudent Strategy Technology efficiency + Investments profitability Key Projects 2020 (GW) Total Pipeline 4.8 GW* St. Brieuc Wikinger 1.7 GW in key projects France Germany 0.5 0.4 Developing jointly with partners U. K 0.8 R3 East Projects with exclusive rights, Anglia 1 WoDS guaranteed fixed tariffs, located in countries with strong offshore position 2012-2014: Installation of first 200 MW 14* Consolidated Capacity. There are additional 1.3GWs in earlier stages of development
  15. 15. Renewables Efficiency EBITDA improvement through revenue improvement… Trigger Target • Geographic diversification From 26% today • Focus investments in higher load factorLoad factor to ~30% new countries capacity • Offshore • Homogeneous management -25% unavailabilityAvailability • Assets motorization to <2% levels • Minimize risks through hedges Prices • Maximization due to demand increase + 7% and mix 15
  16. 16. Renewables Efficiency … and costs optimization … Trigger Target O&M • Standardization of practices 5-6% efficiency75% total cost • Contract management • Rationalisation of growth andProject Pipeline - 30% development costs … in operation, growth & development and overheads 16
  1. A particular slide catching your eye?

    Clipping is a handy way to collect important slides you want to go back to later.

×