Mainstream Renewable Power<br />Offshore Business<br />
Introduction to Mainstream<br />
An Introduction to Mainstream 	<br />Founded in February 2008 by Eddie O’Connor (former Airtricity CEO) and Fintan Whelan ...
Overview of Mainstream’s Target Markets<br />Scotland (offshore)<br />NeartnaGaoithe: 450MW<br />Canada (onshore)<br />Pip...
Milestones Achieved to Date 	<br />
Unique Source of Competitive Advantage<br />A culture built on an entrepreneurial approach, working together, personal res...
Executive Directors	<br />
Experienced Board of Directors<br />Combined industry experience across a number of energy companies<br />
Experienced Board of Directors<br />9<br />
Innovation<br />10<br />
Mainstream’s Offshore Business<br />
Offshore Business Model	<br />Delivering well designed and “ready to build” offshore projects<br />MAINSTREAM GROUP<br />0...
The Skills to Successfully Develop Offshore Wind Projects<br />The skills to develop sustainable low-cost offshore wind en...
10 Years of Unparalleled Experience	<br />Hornsea (2010)<br /><ul><li> Only Round 3 Zone not awarded to utility
 1GW Grid Connection Secured
 Aim to be 1st R3 project to reach COD</li></ul>6,000 MW<br />NeartnaGaoithe(2008)<br /><ul><li> 450MW Grid Connection Sec...
 Most advanced Scottish offshore project</li></ul>1,200 MW<br />450 MW<br />Greater Gabbard (2007)<br /><ul><li> Developed...
 Environmental & technical data submitted  to Consenting Authority</li></ul>Arklow Bank (2002)<br /><ul><li> Ireland’s 1st...
World’s 1st offshore wind project using 3MW machines</li></ul>500 MW<br />288 MW<br />Butendiek (2007)<br /><ul><li> Detai...
Offshore Centre of Excellence	<br />An experienced team to deliver offshore wind, headquartered in London <br />CEO Offsho...
Offshore Advisory Committee<br />Experienced Offshore Advisory Committee supports the growth of Mainstream’s international...
Mainstream’s Offshore Projects<br />Neart Na Gaoithe<br />(450 MW)<br />Horizont<br />(1,200 MW)<br />Hornsea<br />(6,000 ...
SMart Wind Awarded Hornsea Zone in UK Round 3<br />Moray Firth – 1.3GW<br />Moray Firth Renewables Ltd<br />Dogger Bank – ...
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Offshore Presentation July 2011

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Offshore Presentation July 2011

  1. 1. Mainstream Renewable Power<br />Offshore Business<br />
  2. 2. Introduction to Mainstream<br />
  3. 3. An Introduction to Mainstream <br />Founded in February 2008 by Eddie O’Connor (former Airtricity CEO) and Fintan Whelan (former Airtricity Head of Corporate Finance) <br />Airtricity delivered 2,000 MW of onshore wind to construction and developed 16,000 MW of onshore and offshore wind capacity<br />Pioneered offshore wind projects like Greater Gabbard, Arklow Banks and Butendiek<br />Sold to E.ON and Scottish & Southern for a total of €1.8bn in 2007/08<br />Mainstream is focused on sourcing, developing and constructing large-scale electricity generation plants globally, principally offshore / onshore wind and solar projects<br />The Company has secured c.16,000MW development pipeline, focused on<br />Offshore Wind: 5,650 MW <br />North America Onshore Wind: 1,600MW<br />Emerging Markets Onshore Wind: 5,000MW<br />Shareholders: Eddie O’Connor, staff/management, HNWI, Barclays Capital<br />Raised over €125m equity and €26 debt<br />130+ employees<br />
  4. 4. Overview of Mainstream’s Target Markets<br />Scotland (offshore)<br />NeartnaGaoithe: 450MW<br />Canada (onshore)<br />Pipeline: 725MW<br />UK (offshore)<br />Hornsea: 6,000MW<br />Germany (offshore)<br />Horizont: 1,200MW<br />USA (onshore)<br />Pipeline: 947MW<br />Chile (onshore)<br />Pipeline: 994MW<br />South Africa (onshore)<br />Pipeline: 3,936MW<br />
  5. 5. Milestones Achieved to Date <br />
  6. 6. Unique Source of Competitive Advantage<br />A culture built on an entrepreneurial approach, working together, personal respect, sustainability and safety<br />Focus on development and create high value by building strong JV partnerships with local developers<br />A Values<br />Driven Culture<br />Differentiated Business Model<br />Positioned at <br />the Cutting Edge <br />of Policy Formation<br />Record of Delivering<br />Real Value to<br />Shareholders<br />Industry foresight, thought leadership and first mover advantage<br />Sale of Airtricity for total equity of €1.80bn, realizing value of €1.36bn over invested shareholders capital of €0.44bn<br />Company<br />and Investor<br />Interests are Aligned<br />Management invested significant amount of equity capital<br />
  7. 7. Executive Directors <br />
  8. 8. Experienced Board of Directors<br />Combined industry experience across a number of energy companies<br />
  9. 9. Experienced Board of Directors<br />9<br />
  10. 10. Innovation<br />10<br />
  11. 11. Mainstream’s Offshore Business<br />
  12. 12. Offshore Business Model <br />Delivering well designed and “ready to build” offshore projects<br />MAINSTREAM GROUP<br />0 1 2 3 4 Yrs<br />Development <br />& Design<br />Greenfield<br />Consent<br />“Ready to Build”<br />Development & Consent<br />Conceptual Design, Detailed Design, Contracting<br />In Partnership with <br />Project Buyer<br />
  13. 13. The Skills to Successfully Develop Offshore Wind Projects<br />The skills to develop sustainable low-cost offshore wind energy<br />Procurement skills to ensure cost efficient and innovative projects<br />Expertise in all aspects of environmental assessment, permits & consents<br />Active engagement with all statutory and non-statutory stakeholders<br />In-house expertise in engineering, design, and wind analysis<br /> Skills and relationships to deliver grid connections<br /> Application of highest standards of Health & Safety<br />
  14. 14. 10 Years of Unparalleled Experience <br />Hornsea (2010)<br /><ul><li> Only Round 3 Zone not awarded to utility
  15. 15. 1GW Grid Connection Secured
  16. 16. Aim to be 1st R3 project to reach COD</li></ul>6,000 MW<br />NeartnaGaoithe(2008)<br /><ul><li> 450MW Grid Connection Secured
  17. 17. Most advanced Scottish offshore project</li></ul>1,200 MW<br />450 MW<br />Greater Gabbard (2007)<br /><ul><li> Developed and consented one of the largest offshore wind farm in the world</li></ul>Horizont (2008)<br /><ul><li> 1,200MW German Project
  18. 18. Environmental & technical data submitted to Consenting Authority</li></ul>Arklow Bank (2002)<br /><ul><li> Ireland’s 1st offshore wind project
  19. 19. World’s 1st offshore wind project using 3MW machines</li></ul>500 MW<br />288 MW<br />Butendiek (2007)<br /><ul><li> Detailed development work and securing supply chain</li></ul>25 MW<br />
  20. 20. Offshore Centre of Excellence <br />An experienced team to deliver offshore wind, headquartered in London <br />CEO Offshore<br />Andy Kinsella<br />Offshore M&A Manager<br />Barry Hopkins<br />Strategy Manager<br />Cathryn Hooper<br />SMart Wind <br />Board<br />Chair. Andy Kinsella<br />Accounting Manager<br />Laura Coyne<br />SHEQ Manager<br />Keith Harsham<br />COO Offshore<br />Cameron Smith<br />German Offshore Manager<br />Tilman Schwencke<br />Scotland Offshore Manager<br />David Sweenie<br />SMart Wind <br />General Manager<br />Chris Hill<br />
  21. 21. Offshore Advisory Committee<br />Experienced Offshore Advisory Committee supports the growth of Mainstream’s international offshore activities <br />
  22. 22. Mainstream’s Offshore Projects<br />Neart Na Gaoithe<br />(450 MW)<br />Horizont<br />(1,200 MW)<br />Hornsea<br />(6,000 MW)<br />Offshore Wind Projects<br />
  23. 23. SMart Wind Awarded Hornsea Zone in UK Round 3<br />Moray Firth – 1.3GW<br />Moray Firth Renewables Ltd<br />Dogger Bank – 9GW<br />Firth of Forth – 3.5GW<br />Forewind Consortium<br />Seagreen Wind Energy Ltd<br />Irish Sea – 4.2GW<br />Hornsea – 6GW<br />Bristol Channel – 1.5GW<br />Norfolk Bank – 7.2GW<br />East Anglia Offshore Wind Ltd<br />West Isle of Wight – 0.9GW<br />Hastings – 0.6GW<br />
  24. 24. The SMart Wind Joint Venture<br />For further details please visit www.smartwind.co.uk<br />The <br />Crown Estate<br />Beluga-Hochtief Offshore<br />Siemens<br />Wind<br />Siemens<br />TDL<br />Hochtief<br />EMU<br />
  25. 25. Overview of NeartnaGaoithe Project<br /><ul><li>Mainstream was awarded exclusive rights to develop the site by The Crown Estate in February 2009
  26. 26. Project capacity estimated at450 MW
  27. 27. Located 13-30km off the Fife coast and covers an area of approximately 105km2
  28. 28. Water depths of 45-55m
  29. 29. Grid connection secured
  30. 30. Consent expected in Q4 2012 and COD in 2016</li></ul>NeartnaGaoithe – 450MW<br />
  31. 31. Overview of Horizont Project<br />Project<br />3 sites: Horizont I, II & III<br />Potential capacity of 1,200MW <br />ca.140 km offshore<br />38–42m water depth<br />10 m/s average wind speed<br />Mainstream owns 100% of the project<br />Consent expected in late 2011<br />Construction foreseen in 2014/2015<br />Market<br />German government set ambitious targets for renewable energy with a projected offshore output of around 25 GW by 2025/2030<br />Guaranteed allowance of15ct/kWh (EEG) for 12 years (in case of Horizont 17yrs due to distance to shore and water depths); support scheme currently under review for improvement (revision in force in 2012)<br />Guaranteed grid connection (with grid costs socialised) <br />Horizont I, II, III – 1,200MW<br />Germany<br />
  32. 32. The Supergrid<br />The European Union actively supports the idea of a “European Offshore Supergrid” <br />9 countries have signed the North Seas Countries’ Offshore Grid Initiative<br />The Supergrid is an electricity transmission system, mainly based on direct current, designed to facilitate large scale sustainable power generation in remote areas for transmission to centres of consumption<br />
  33. 33. Initiated by Mainstream, a group of companies and organisations with a mutual interest in promoting the policy agenda for a European Supergrid and empowered to build the know-how to deliver it in practice<br />

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