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Oneia morgan solar presentation


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Oneia morgan solar presentation

  1. 1. ONEIA: Chasing the Wind & Sun Renewable Energy in Ontario Challenges & Opportunities Nicolas Morgan, Co-founder, VP Biz Dev 416.203.1655
  2. 2. Sun SimbaLow cost, high efficiency PV panels
  3. 3. Investors Funding & Support$9.2 million in Angel, VC $10.3 million in Canadian && strategic investments US Government funding
  4. 4. Political StuffConservatives will change theGreen Energy ActLiberals will too!FIT rates will drop either way
  5. 5. Lessons Learned• Investors & Project Finance are out there, and yes,in Canada too• Governments can and will help• In both cases: Figure out who, then ask them for advice. “What are you looking for?” Follow up on rejection, learn! Try again!
  6. 6. Lessons Learned• Big players will work with a small company• Get top people on-board early (worry if you can’t)• Early on, their contribution should be easy, low risk& cheap, but NO FREEBIES!• Easier to propose a project than join one.• Time-vampires and needy partners get droppedVERY easily
  7. 7. Lessons Learned• Are your customers really your focus?• Should focus on the bankers, which means: • Show how you’re going to prove your claims. • Don’t avoid talking risks. • Never try TWO new things at once. • Understand project finance, taxes & full costs. Customers are plentiful, customers with money are rare.
  8. 8. There is a demand for “better”• Better = New, but also risky• Cost! “No premium electrons”• Lower LCOE vs. Racing Stripes• But not all racing stripes are equal
  9. 9. Racing Stripes?100 km Upwind from Toronto
  10. 10. OpportunitiesCrowded Markets in Solar:• 10 MW Solar farms• Rooftops• Ground-mounted MicroFIT• Too much focus on “site”• Not enough differentiation• Many 100 kW to 2 MWprojects out there. Finance at smaller scale: More options & less
  11. 11. Opportunities Mother Bear Mother Cat Queen Bee• Many opportunities vs. “my baby”• Most projects fail before they start• So, get to “No” quickly (and often)
  12. 12. Thanks!Nicolas MorganCo-founder & VP Biz Dev416.203.1655nicolas@morgansolar.com30 Ordnance St.Toronto, Ontario