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Small	
  Wind	
  Plants	
  
(Minieolico)	
  
Opportunity	
  for	
  Investment	
  in	
  Italy	
  

November	
  2013	
  
Agenda	
  
§ 

About	
  Us	
  

§ 

Introduction	
  to	
  minieolico	
  (small	
  wind	
  plants)	
  

§ 

The	
  marke...
About	
  us	
  
§ 

Since	
  2010	
  Bizando	
  has	
  been	
  active	
  in	
  the	
  renewable	
  energy	
  sector	
  by...
The	
  origins	
  of	
  the	
  minieolico	
  (small	
  wind	
  plants)	
  
§ 

Minieolico	
   was	
   born	
   and	
   de...
Definitions	
  
§ 

The	
  definition	
  of	
  minieolico	
  does	
  not	
  follow	
  a	
  single	
  rule	
  because	
  it	...
Attractiveness	
  of	
  the	
  industry	
  
§ 

I’s	
  appropriate	
  to	
  consider	
  that	
  the	
  traditional	
  min...
Global	
  wind	
  market	
  
§ 

Globally,	
  wind	
  power	
  is	
  a	
  mature	
  and	
  spread	
  business	
  with	
  ...
Forecasts	
  of	
  development	
  for	
  the	
  minieolico	
  
The	
  forecasts	
  of	
  minieolico	
  installed	
  worldw...
The	
  development	
  in	
  Italy	
  
§ 

In	
  Italy,	
  the	
  installed	
  capacity	
  in	
  2011	
  was	
  
14MW.	
  ...
The	
  authorization	
  aspects	
  
§ 

Regulatory	
  compliance	
  is	
  one	
  of	
  the	
  assessment	
  criteria	
  i...
The	
  incentives	
  
§ 

The	
  incentive	
  mechanism	
  of	
  the	
  Ministerial	
  Decree	
  
of	
  18/12/2008,	
  wh...
Turnkey	
  Project	
  
§ 

We	
  are	
  able	
  to	
  offer	
  an	
  investment	
  characterized	
  by:	
  
§ 

”Turnkey”...
The	
  turbine	
  (60KW)	
  
§ 

Truly	
  innovative	
  project	
  based	
  on	
  a	
  highly	
  efficient	
  generator	
  ...
Capex	
  &	
  Opex	
  
Capex:	
  
§ 
§ 
§ 

Turnkey	
  Plant	
  Cost:	
  
Enel	
  Connection:	
  
Land	
  acquisition:	...
Annual	
  revenues*	
  
	
  
§ 

Value	
  of	
  annual	
  electricity	
  production:	
  169MWh	
  

§ 

Comprehensive	
 ...
Costs	
  /	
  Revenue	
  Analysis	
  x	
  20	
  years*	
  
§ 

Capital	
  employed:	
  €	
  245K	
  

§ 

Values	
  of	
...
BP	
  (6m/s)	
  
	
  
Years	
  

kWh	
  /	
  year	
  

GSE	
  Revenues	
  
	
  
	
  

Costs	
  (Maintenance	
  
and	
  Ins...
Costs	
  /	
  Revenue	
  Analysis	
  x	
  20	
  years	
  (wind:	
  6.5	
  m/s)	
  
§ 

Capital	
  employed:	
  €	
  245K	...
BP	
  (6,5m/s)	
  
	
  
Years	
  

kWh	
  /	
  year	
  

GSE	
  Revenues	
  
	
  
	
  

Costs	
  (Maintenance	
  
and	
  I...
Phases	
  of	
  work	
  (indicative)	
  
Project	
  Development	
  
Site	
  

Autorization	
  

Production	
  
Project	
  ...
The	
  timing	
  of	
  completion	
  (indicative)	
  
	
  Month	
  1	
  

	
  Month	
  2	
  

	
  Month	
  3	
  

STMG	
  ...
Our	
  proposal	
  
§ 

Bizando	
  proposes	
  a	
  program	
  development	
  framework	
  -­‐	
  focused	
  in	
  the	
 ...
Findings	
  
The	
  project	
  proposed	
  by	
  Bizando	
  is	
  characterized	
  by	
  a	
  number	
  of	
  extremely	
 ...
Contacts	
  

info@bizando.com	
  

This	
  document	
  is	
  only	
  a	
  general	
  overview	
  of	
  the	
  subject	
  ...
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Bizando - Minieolico 60KW - November 2013

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NEW RELEASE - The project proposed by Bizando is characterized by a number of extremely positive factors:
- Turnkey approach, by the acquisition of sites up to the plant in operation.
- Very streamlined authorization process.
- Rates of return on investment of high interest.
- Ability to modulate the investment based on the needs of the investor.
Bizando proposes a program development framework - focused in the southern regions of Italy - which includes:
- Systematic search for suitable sites to be allocated to the installation of small wind turbines of 60KW.
- Support for all administrative practices for the acquisition of sites and for obtaining all necessary approvals.
- Design and construction of turnkey plants.
- Management and operation of the plant for the entire period of its useful life.

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Transcript of "Bizando - Minieolico 60KW - November 2013"

  1. 1. Small  Wind  Plants   (Minieolico)   Opportunity  for  Investment  in  Italy   November  2013  
  2. 2. Agenda   §  About  Us   §  Introduction  to  minieolico  (small  wind  plants)   §  The  market   §  The  regulatory  framework   §  The  financial  aspects   §  The  implementation  aspects.   §  Our  proposal   §  Findings  
  3. 3. About  us   §  Since  2010  Bizando  has  been  active  in  the  renewable  energy  sector  by  supporting  the   production  of  energy  from  sources  which  use  does  not  affect  natural  resources.   §  Bizando  has  actively  participated  in  the  development  of  large  photovoltaic  and  wind   projects  in  different  Italian  regions,  including  Basilicata,  Campania,  Lazio  and  Sardinia   §  Bizando  operates  through  a  network  of  commercial  and  technical  partners  by  offering   personalized  and  comprehensive  services:   §  §  addressing  the  requirements  of  the  projects     satisfying  the  objectives  of  "value  for  money"  imposed  by  the  client   §  Bizando  is  able  to  offer  solutions  "turnkey"  in  the  field  of  renewable  energy,  with  particular   reference  to  the  mini  wind  turbines  and  hybrid  thermodynamic  systems.   §  Bizando  is  also  active  in  other  areas,  such  as  management  consulting  in   telecommunications,  the  supply  of  mass  SMS  mode  'managed  service'  and  the   development  of  apps  for  all  types  of  mobile  devices  
  4. 4. The  origins  of  the  minieolico  (small  wind  plants)   §  Minieolico   was   born   and   developed   primarily   to   meet   the   electricity   requirements   of   isolated  users  (off-­‐grid).   §  Today   almost   all   of   the   installation   is   oriented   to   the   generation   and   transfer   of   the   generated  energy  into  the  grid.   §  The   development   is   supported   thanks   to   the   specific   incentive   policies   promoted   by   each  country  
  5. 5. Definitions   §  The  definition  of  minieolico  does  not  follow  a  single  rule  because  it  is  tied  to  a  logic   based  on  the  regulatory  legislation  that  varies  from  country  to  country.   §  Regarding  Italy,  minieolico  plants  are  considered  those  that  have  power  in  a  range  of   20Kw  -­‐  200Kw  and  the  generator  can  be  placed  both  in  horizontal  than  vertical  way.   §  The  lower  limit  coincides  with  the  minimum  investment  threshold  for  structured   finance  operations.  
  6. 6. Attractiveness  of  the  industry   §  I’s  appropriate  to  consider  that  the  traditional  minieolico  and  the  traditional  wind  power   plants,  have  similar  needs  (even  if  the  second  ones  belong  to  a  field  more  developed  and   mature,  beyond  the  evident  scale  factor)   §  However,  the  developmental  potentialities  of  the  minieolico  are  favored  by  some  peculiar   aspects  that  make  more  affordable  this  type  of  installation  compared  to  those  of  large   power  plants:   §  Simplicity  in  implementation  and  reduced  time  of  delivery  and  installation   §  Lower  investment  values   Reduced  time  for  the  authorization  procedure.   Acceptable  timeframe  for  connections.   Lower  problems  of  saturation  of  the  electrical  capacity  of  the  network.   Increased  availability  of  suitable  sites.   Perception  of  greater  stability  of  the  incentive  scheme.   Better  impact  on  public  opinion  and  public  administrations.   §  §  §  §  §  § 
  7. 7. Global  wind  market   §  Globally,  wind  power  is  a  mature  and  spread  business  with  an  installed  capacity  of   238GW  in  2011   §  0.4  GW  are  represented  by  the  minieolico  industry,  distributed  mainly  among  China,   the  United  States,  Canada,  Great  Britain   200000   150000   100000   50000   0   179000   166000   42970   15000   USA   Cina   UK   12600   Germania   Canada   7020   Spagna   7000   Polonia   5900   Giappone   Cumulative  Installed  Capacity  (KW)   5030   Italia   1700   Svezia   1040   Corea  del   Sud  
  8. 8. Forecasts  of  development  for  the  minieolico   The  forecasts  of  minieolico  installed  worldwide  up  to  2020  are  excellent  both  on  an   annual  basis  (industry  studies  provide  at  least  30%  /  year)  than  on  cumulated.  
  9. 9. The  development  in  Italy   §  In  Italy,  the  installed  capacity  in  2011  was   14MW.   §  In  2012  it  grew  by  50%  to  a  total  of   21MW,  with  less  than  400  installations   §  The  installed  capacity  in  2020  is   estimated  to  1GW.   §  The  presence  of  historical  wind  data  in   the  localities  where  the  great  plants  were   installed  facilitates  the  development  of   minielico  especially  in  the  southern   regions.   (*)    Various  sources,  Legambiente,  Politecnico  di  Milano   Diffusion  of  minieolico  in   Italian  municipalities  
  10. 10. The  authorization  aspects   §  Regulatory  compliance  is  one  of  the  assessment  criteria  in  financing  transactions  since   a  not  completely  outlined  picture  may  cause  situations  of  potential  administrative   litigation.   §  Article.  12  of  Legislative  Decree  no.  N.  387/2003  and  national  guidelines  in  DM   10/9/2010  state  that  single  interventions  depending  on  the  installed  power  may  be   subject  to  Prior  communication,  Report  of  Home  Activity  (DIA)  or  Single  Authorization   (AU).   §  Wind  power  plants  with  a  capacity  of  no  more  than  60KW  can  be  made  with  the   discipline  of  the  DIA  (today  PAS,  the  simplified  authorization  procedure).  
  11. 11. The  incentives   §  The  incentive  mechanism  of  the  Ministerial  Decree   of  18/12/2008,  which  is  valid  for  all  systems  that  will   be  entered  into  operation  before  31  December   2012  (with  subsequent  extension  of  four  months  in   2013),  allows  qualified  plants  IAFR,  for  size  from  1   kW  up  to  200  kW,  the  ability  to  access  at  an  "all-­‐ inclusive"fixed  rate  delivered  by  the  Energy   Services  Operator  (GSE),  which  provides  for  15   years  €  300  /  MWh,  provided  that  there  is  a  total   sale  of  energy  produced.   §  The  Implementing  Decrees,  the  so-­‐called  Romani   Decree  published  in  July  2012,  introduce  a  new   pricing  system  for  plants  that  will  come  into  service   after  December  31,  2012  and  after  the  transitional   period  of  4  months.   §  Specifically,  there  is  a  incentive  tariff  basis,  for  20   years  of  useful  life  of  the  plants,  amounting  to  291   €  /  MWh  for  power  up  to  20  kW  and  268  €  /  MWh   for  power  between  20  and  200  kW.  
  12. 12. Turnkey  Project   §  We  are  able  to  offer  an  investment  characterized  by:   §  ”Turnkey”  approach     §  Payment  methods  based  on  the  phases  of  the  development  (progressive  "development  fee")   §  We  performed  a  thorough  scouting  for  lands  and  for  turbines   §  For  economic  evaluations,  our  reference  turbine  was  considered;  at  the  same  time  we   are  open  to  consider  alternative  scenarios,  with  other  turbines  selected  by  us  or  chosen   by  the  investor.  
  13. 13. The  turbine  (60KW)   §  Truly  innovative  project  based  on  a  highly  efficient  generator  with  unique  patent  that   allows  you  to  minimize  the  size  of  the  system  in  general:   §  §  §  Hub  height:  25.33  mt.   Tower  with  hydraulic  scrubber     Rotor  diameter:  14.4  mt.   §  Chinese  manufacturing  with  German  (Siemens  PLC)  and  Swedish  /  Japanese  (SKF  /   NKS)  components     §  Inverter  Power  One  of  the  latest  generation   §  Annual  energy  production:   §  §  169MWh  at  6.0  m  /  s   211MWh  at  6.5  m  /  s  
  14. 14. Capex  &  Opex   Capex:   §  §  §  Turnkey  Plant  Cost:   Enel  Connection:   Land  acquisition:   Total:  210K€    5K€    30K€    ~245K€     Opex  :   §  §  §  Maintenance   Insurance   General  and  administrative  expenses Total:    ~2K€/year      
  15. 15. Annual  revenues*     §  Value  of  annual  electricity  production:  169MWh   §  Comprehensive  rate  as  incentive  system:  €  262,64€/  MWh**   §  Value  of  annual  electricity  sales:    0,26264€  X  169MWh  =    44,4K€   (*)    Conservative  assumptions,  with  average  wind  at  6m  /  s   (**)  Updated  with  2014  values  
  16. 16. Costs  /  Revenue  Analysis  x  20  years*   §  Capital  employed:  €  245K   §  Values  of  annual  electricity  sales:  €  44.4  K   §  Annual  operating  costs:  €  2K   §  Gross  income:  42.4K€     §  ISTAT  adjustment:  2%   §  PBP:  6  Years   §  TIR:  ~  15%       (*)  Conservative  assumptions,  with  average  wind  at  6m  /  s  
  17. 17. BP  (6m/s)     Years   kWh  /  year   GSE  Revenues       Costs  (Maintenance   and  Insurance)   Net   Revenues   Cumulated   flows  
  18. 18. Costs  /  Revenue  Analysis  x  20  years  (wind:  6.5  m/s)   §  Capital  employed:  €  245K   §  Values  of  annual  electricity  sales:  €  55.4K   §  Annual  operating  costs:  €  2K   §  Gross  income:  53.4K€     §  ISTAT  adjustment:  2%   §  PBP:  5  Years   §  TIR:  ~  19%  
  19. 19. BP  (6,5m/s)     Years   kWh  /  year   GSE  Revenues       Costs  (Maintenance   and  Insurance)   Net   Revenues   Cumulated   flows  
  20. 20. Phases  of  work  (indicative)   Project  Development   Site   Autorization   Production   Project   Construction   Installation   • Identification   • Technical   • Preparation  of   • Realization  of   of  the  site   documentation   project   the  plinth   documentation   support.   • Letter  of  intent   for  the   by  the  owners   connection   • Realization  of   of  the  land   • Application  on   the  related   works.   • Site  report  &   the  portal   feasibility  study   "Manufacturers   • Delivery  of  the   turbine  to  the   • Business  plan   Enel"   • Quotation  for   port.   the  connection   Constitution   to  Enel   of  vehicle   company   • Turbine   installation  at   the  site.   • Testing   • Documents  of   compliance.   GSE   • Administrative   practice  with   Operations   the  GSE.   &   • Manual  for   Maintenance   operation  and   maintenance  of   the  turbine.  
  21. 21. The  timing  of  completion  (indicative)    Month  1    Month  2    Month  3   STMG   Project    Month  5    Month  6    about  180  days   Overall   Site    Month  4   20   35*   45   Construction   Installation   GSE   (*)    Net  of  timing  for  contracting  between  Customer  and  Owner  of  the  land   70   5   10  
  22. 22. Our  proposal   §  Bizando  proposes  a  program  development  framework  -­‐  focused  in  the  southern   regions  of  Italy  -­‐  which  includes:   §  Systematic  search  for  suitable  sites  to  be  allocated  to  the  installation  of  small  wind  turbines   of  60KW.   §  Support  for  all  administrative  practices  for  the  acquisition  of  sites  and  for  obtaining  all   necessary  approvals.     §  Design  and  construction  of  turnkey  plants.   §  Management  and  operation  of  the  plant  for  the  entire  period  of  its  useful  life.    
  23. 23. Findings   The  project  proposed  by  Bizando  is  characterized  by  a  number  of  extremely  positive   factors:   §  Turnkey  approach,  by  the  acquisition  of  sites  up  to  the  plant  in  operation.     §  Very  streamlined  authorization  process.   §  Rates  of  return  on  investment  of  high  interest.   §  Ability  to  modulate  the  investment  based  on  the  needs  of  the  investor.  
  24. 24. Contacts   info@bizando.com   This  document  is  only  a  general  overview  of  the  subject  treated  in  it.  In  no  way  is  meant   complete,  especially  without  adequate  technical  explanation  and  necessary  deepening.  
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