Et solar company presentation february 2014
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Et solar company presentation february 2014

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Established in 2005, ET Solar Group has emerged as a global one-stop solar solution provider. Our business is divided into manufacturing and solar system solutions. Our leading technology, coupled ...

Established in 2005, ET Solar Group has emerged as a global one-stop solar solution provider. Our business is divided into manufacturing and solar system solutions. Our leading technology, coupled with high-quality products and services, enables ET Solar to offer cost efficient turn-key system solutions and services to specialized PV investors.

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  • A quick note that I’d like to throw in here is the recent photon article on performance. Even though the third company on the list is third, and nobody likes being third, but an interesting note is that they are the only ones to sell into the U.S. out of the top 3, so does that make them #1 in the U.S. in terms of power production? Now most individuals in the market will say that a module is a commodity. Its like baking bread, because bread is a commodity right? You put the dough in the oven, bake for a little while and out comes your commodity. Is a solar module the same? Maybe, maybe not…. Quality, reliability, pricing, power production, terms, back-end support all play into this commodity discussion. The sourdough bread that I put in the oven and try to bake at home is not going to taste like the bread made at the Boudin bakery in San Francisco. Its just not, no matter how hard I try. And maybe we can all start to look at modules that way. There not all the same. Photon shows that every year…Now to the new stuff.
  • A quick note that I’d like to throw in here is the recent photon article on performance. Even though the third company on the list is third, and nobody likes being third, but an interesting note is that they are the only ones to sell into the U.S. out of the top 3, so does that make them #1 in the U.S. in terms of power production? Now most individuals in the market will say that a module is a commodity. Its like baking bread, because bread is a commodity right? You put the dough in the oven, bake for a little while and out comes your commodity. Is a solar module the same? Maybe, maybe not…. Quality, reliability, pricing, power production, terms, back-end support all play into this commodity discussion. The sourdough bread that I put in the oven and try to bake at home is not going to taste like the bread made at the Boudin bakery in San Francisco. Its just not, no matter how hard I try. And maybe we can all start to look at modules that way. There not all the same. Photon shows that every year…Now to the new stuff.

Et solar company presentation february 2014 Et solar company presentation february 2014 Presentation Transcript

  • ET Solar, Inc. Company Introduction 2014
  • Safe Harbor Statement This presentation has been prepared by ET Solar Group. (the “Company”) solely to facilitate the understanding of the Company’s business model and growth strategy. The information contained in this presentation has not been independently verified. No representation, warranty or undertaking, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or the opinions contained herein. None of the Company or any of its affiliates, advisers or representatives will be liable (in negligence or otherwise) for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection with the presentation.
  • CONTENTS  Part 1 About ET  Part 2 ET Business  Part 3 Why ET  Part 4 ET Performance
  • ABOUT ET – Leading Complete Solar Power Solutions Provider 3,000 staff 700 customers $700 million annual revenue 3 GW global installation Established in 2005, ET Solar Group has emerged as a global one-stop solar solution provider. Our business is divided into manufacturing and solar system solutions. Our leading technology, coupled with high-quality products and services, enables ET Solar to offer cost efficient turn-key system solutions and services to specialized PV investors. Top 500 Private enterprise of China 2012 Top 100 most influenced enterprise in clean energy industry Top 500 global clean energy enterprise 2011 8% of revenue invested in R&D
  • ABOUT ET - Our History & Milestones 2012 2013 2013.04 ET solutions project reference over 300MW 2013.03 Global PV module installation reached 2GW 2012.11 ET Solar Japan branch established in Tokyo 2012.07 Listed as global tier 1 PV manufacturer by Bloomberg 2012.04 US$ 238 million credit facility received from Bank of Communications 2012 2011 2011.12 ET module capacity reached 1GW 2011.10 US$ 1.27 billion credit facility received from CITIC Bank 2011.03 ET PV module shipment reached 1GW 2009-2010 2010.10 Subsidiary ET Solutions s.r.l established in Italy 2010.07 Green Equity established in Luxemburg 2009.04 Subsidiary ET Solar Energy Limited founded in Taizhou, China 2008.08 Subsidiary ET Solutions AG founded in Germany 2008.05 Get US$ 50 million private equity fund 2007.03 Subsidiary ET Solar Inc. founded in California, USA 2007-2008 2005-2006 2006.12 ET Solar brand established, renamed of ET Solar Industry Ltd. 2005.05 ET Solar first module production line commenced 2005.01 Predecessor of the company CNS founded
  • ABOUT ET - RPS Philosophy ET Solar is an innovation-based and customer-focused company, with a deep understanding that value and quality guide our decision-making. CUSTOMERS AT THE FOREFRONT Safety Adaptability Performance RELIABILITY Profitable Transparent Bankable PROFITABILITY Innovative Leadership Stewardship SUSTAINABILITY
  • ABOUT ET - Global Presence New Jersey , US Rotterdam , Netherlands Felxtion , UK Vercelli , Italy Taizhou , China California , US Global network & local service
  • ET Solar - US Facilities  ET USA Headquarters Office - San Francisco, CA  East Coast Office – Branchburg, NJ  Service – San Francisco, CA  Warehouses  Fremont, California  Long Beach, California  Aiea, Hawaii  Oahu, Hawaii  Branchburg, New Jersey
  • Complete Product Suite for all Applications P648 module (48 poly cells) AC module (micro-inverter built-in) Residential BIPVUtility scaleCommercial Customized Anti-glare (texturized glass surface) M660 module (60 mono cells EU only) Binary star (dual-junction box) P660 module (60 poly cells) Transparent module (transparent backsheet) Double glass module Anti-Salt spray Off- grid
  • PHOTON Laboratory - 2013 Results  ET modules generate more revenue grade power per first-cost investment ($/W) than 151 modules reported!  Mono  Top (new) - Sopray Energy, SR-190 @ 94.0% - not sold in the US, 190 W platform uncommon.  Second - Risen Energy, SYP190S @ 93.8% - not sold in the US, 190 W platform uncommon.  Third - ET Solar, ET-M660WW @ 93.4% - 60-cell, 250 W, common platform, available world-wide  Poly  Excluding availability & platform/application, ET Solar ET-P660WW reached 92.2% and ranked #2!  #1 had 1% more PR (more expensive, limited capacity)
  • ET Solar Generates More Power • Comparisons between – Data Sheets (ALL) – PAN Files where available (ET, Astronergy) – Photon Lab Data (2013) ET Solar Trina Yingli Canadian Solar Astronergy Jinko Performance Warranty (Specification Sheet) Performance Warranty (% 25 years) 81.4% 80.7% 80.7% 80.0% 80.0% 80.0% % Savings -0.9% -0.9% -1.7% -1.7% -1.7% Performance Module Eff % (Data Sheet) 15.4% 15% 15.3% 15.5% 15.2% 15.3% % Savings/Loss -2.6% -0.6% 0.6% -1.3% -0.6% Annual Energy Harvest (PV Syst, kWh/kW) 1867 1818 1823 1808 1822 1831 % Savings/Loss -2.6% -2.4% -3.2% -2.4% -1.9% Annual Energy Harvest (Photon Lab, kWh/kW) 1074 1047 1039 1078 % Savings/Loss -2.5% -3.2% 0.4% n/a n/a
  • ET Solar Generates More Revenue Grade Power • 1 MW, Los Angeles, 250 W Modules • 3%/Yr Electricity rate escalator • 0.5%/Yr Degradation • PV Syst generated data (PAN Files & Data Sheets) Performance Inputs ET Solar Trina Yingli Canadian Solar Astronergy Jinko Annual Output for Year 1 (kWh) Degradation Factor System lifetime (Years), PPA Term Retail rate ($/kWh) Rate Escalator 1,867,000 1,818,000 1,823,000 1,808,000 1,822,000 1,831,000 0.50% 0.50% 0.50% 0.50% 0.50% 0.50% 25.00 25.00 25.00 25.00 25.00 25.00 $0.15 $0.15 $0.15 $0.15 $0.15 $0.15 3% 3% 3% 3% 3% 3% Revenue % Savings/Loss $ Savings/Loss $/W Savings/Loss $9,547,319 $9,296,747 $9,322,315 $9,245,609 $9,317,201 $9,363,225 -2.6% -2.4% -3.2% -2.4% -1.9% -$250,572 -$225,004 -$301,710 -$230,117 -$184,094 -$0.25 -$0.23 -$0.30 -$0.23 -$0.18
  • WHY ET – Solutions & Services Complete Solutions Top Quality Manufacturing Leading PV Industry focus across the chain and for continuous expansion of EPC segment Cost-efficient turn-key system solutions & services to partners and specialized PV investors
  • WHY ET – Total transparency on quality, our commitment 2012 quality check points increased from 173 to 379 since 2008 100% Visual check 100% Electrical test 100% EoL test Outdoor test by Quality management Factory audit Third party test Certification
  • WHY ET – HIGHLY BANKABLE ET Solar modules are also bankable at many other leading banks And the list is growing … Global Tier 1 PV company rated by
  • ET PERFORMANCE Financial Growth 2010-2012 Shipments 2008-2013E Unit: Mln USD Unit: MW
  • ET PERFORMANCE - References • May 2011 • Size: 3.3 MWp Chignolo PO, Italy • June 2012 • Size: 5 MWp • Financing bank: Saar LB Tirepied, France Carbuniesti I&II, Gorj, Romania • To be commissioned June 2013 • Size: 20 MWp • December 2012 • Size: 7.5 MWp Port Allen, Kauai, USA • Europe • North America • December 2012 • Size: 2.3 MWp Denver, CO, USA • Asia • December 2012 • Size: 1.2 MWp North East Victoria, Australia • December 2012 • Size: 15 MWp Anhui, China Rätzlingen, Germany • June 2012 • Size: 11.2 MWp • Financing bank: Deutsche Kreditbank More references at www.etsolar.com
  • Reference Project Installer: FLS Energy Location: North Carolina, USA System size: 21 MWp System Type: Utility “We very much enjoy our cooperation with ET Solar that provides high quality products, excellent service, and strong technical expertise …with such a trusted business partner, we are very confident with continuing to expand our business strongly in the region.” Chris Dunbar, Vice President and COO of FLS Energy.
  • Reference Project Installer: Strata Solar Location: North Carolina, USA System size: 23 MWp System Type: Utility “ET Solar is providing these Strata projects with quality product and excellent value, ” “We selected ET Solar for their competitive price and high-efficiency solar modules. Moreover, we benefit from ET Solar's outstanding customer services where for example their New Jersey office gives immediate feedback to our questions.” Markus Wilhelm, CEO Strata Solar.
  • Reference Project Project: Harvard Business School Installer: Solect Energy Location: Boston, MA System size: 320 modules, 80kW System Type: Commercial Rooftop “The project’s complexity included a multi-tiered roof with many mechanical units and attachments resulting in shading on various parts of the arrays throughout the day. The AC solar panel solution was an ideal fit to deliver maximum system production and efficiency.” Scott Howe, Partner, Solect Energy
  • Reference Project Installer: NextEnergySolar Location: Bay Area, CA Module Manufacturer: ETSolar System Size: 60 modules System Type: Ground System Size: 15kW Serves 70% of customer’s electricity needs “We are all looking for a product with easier installation, reliability, and higher performance. This AC module with a full 25 year replacement warranty is a selling driver. ET is on the cutting edge at the right price. After installing the ET660250BAC module my company is seeing a profit and my customers are smiling too”, Randy Kauffman, CEO NextEnergy
  • Reference Project Installer: Solar Energy Solutions Location: Wisconsin Rapids, WI Module Manufacturer: ETSolar System Size: 27 modules, 6.75kW System Type: Residential Roof "The end-customer is extremely pleased with performance so far. And with subzero temperatures we saw an AC performance high of 6,203.30 kW which is 92% of our installed DC capacity, even with a terrible sun angle this time of year.“ Brandon Magsam, Co-Founder of SES Solar
  • › 2012 by Samuel Engineering › 2.3MW with 7600 300W PV modules › ET-P672 solar modules › Samuel Engineering financed and owns the project. › Dave Thorn/ Project Manager › 303.567.7623 (P) › dthorn@samuelengineering.com Colorado, USA Reference Project
  • › 2011 › 17.49 rooftop system › ET-P660230 solar modules Woodbine, NJ › 2011 Brite Idea Energy › 238.28KW rooftop system › ET-P660230 solar modules › Jennifer Washburn › 866-524-8556 › Jenniferw@briteideaenergy.com Ocean City, NJ Reference Project
  • › Dec 2011 › 245.1KW rooftop system › ET-P660230 solar modules Millville, NJ Newark, NJ › 2009 by ALM › 910 KW rooftop and canopy system › ET-P672280 solar modules › Pat J. Ruccio /President › 973-402-2211 › Pruccio@almelect.com Reference Project
  • › 2012 by Turning Mill Energy › 661KW ground mount + Canopy system › ET-P660245 solar modules › Tony Johnson/Vice President › 508-888-4383 (O) › tjohnson@turningmillenergy.com › Bank Reference: › Andrew F. Eldridge /Senior Vice President and Commercial Lending Officer › Phone: 508.568.1218 › aeldridge@mycapecodbank.com Cape Cod, MA Reference Project
  • › 2011 › 409KW rooftop system › ET-P672280 solar modules Harlysville, PA › 2011 by Tecta Solar › 510KW rooftop system › ET-P672275 solar modules › Jay Levin/Director of Operation › 267-337-6595 › jlevin@tectaamerica.com Lansdale PA Reference Project
  • Reference Project › 2012 by Solect › 1MW ground mount system › ET-P672290 solar modules › Kenneth Driscoll/President › 508-598-3511 (O) › kdriscoll@solectenergydev.com Southborough, MA › 2012 › 475 kW rooftop system › ET-P660235 solar modules Northborough, MA
  • › 2012 by JKB Energy › 1MW and 0.7MW, total 1.7MW system › ET-P672 solar modules › Financed by American Agricultural Credit http://www.agloan.com/ › Jayson Moser / VP of Design and Procurement › jayson@jkbenergy.com › 209.668.5303 office California Reference Project
  • Thank You!
  • ET Solar – US Organization Structure