This document provides an agenda for Digital Sustainability Week from June 29th to July 3rd 2020. It discusses ERG's successful industrial transformation from oil refining to renewable energy production over several decades. ERG has installed over 3 GW of wind, solar, hydro, and natural gas capacity across Europe and reduced its carbon intensity by 90% since entering renewables. The company's 2018-2022 business plan and ESG strategy focus on continued renewable capacity growth, reducing carbon emissions, and supporting local communities.
The document provides an agenda for the Italian Sustainability Day 2019 event held by ERG in Milan on July 2, 2019. It discusses ERG's successful industrial transformation from oil refining to renewable energy production over several decades. ERG's 2018-2022 business plan focuses on continued growth in renewable installed capacity, repowering of existing wind farms, and sustainability targets around reducing carbon emissions and enhancing human capital.
ERG provides a company overview and agenda for their January 2019 document. They discuss their successful industrial transformation from oil to renewables, with over €3.6 billion in oil-linked disposals and €4.3 billion in renewable investments between 2008-2018. Their strategy for 2018-2022 focuses on co-development and greenfield projects abroad, and repowering and reblading in Italy. They provide updates on recent developments including acquisitions boosting their UK wind pipeline to 163MW and greenfield projects securing over 247MW across multiple countries. M&A will also support growth in key geographies.
This document provides a summary of a company press meeting that took place on October 20, 2018 in Genoa. It discusses the company's successful industrial transformation from oil to renewables through strategic divestments and investments. The agenda covers the company's 2018-2022 business plan, recent developments in its business model, focus on technical expertise, the ongoing energy transition, financial targets, and mid-year 2018 results.
Jordan faces high energy costs and demand growth due to its reliance on imported energy. It aims to increase renewable energy to 10% of its energy mix by 2020 through various solar and wind projects totaling around 800 MW of each. Jordan has over 135 MW of operational renewable projects so far and another 900 MW under construction or development through different regulatory schemes including direct proposals, competitive bidding, EPC projects, and net metering. The presentation outlines Jordan's energy sector figures, regulatory framework, ongoing and future renewable projects, technical requirements, and applicable codes and standards to ensure quality assurance of PV power plants.
Energy and environmental impacts of biomass use in the residential Sector: a ...IEA-ETSAP
The document analyzes the energy and environmental impacts of increased biomass use in residential heating in Italy through 2030 under various policy scenarios. It finds that:
1) Under a reference scenario that meets 2020 targets, biomass consumption in the residential sector increases to around 19 Mtoe by 2030, accounting for over 60% of fine particulate emissions.
2) A constant biomass scenario that limits consumption to 2014 levels still meets emissions reductions but achieves a slightly different energy mix.
3) A deeper decarbonization scenario reduces emissions 36% by 2030 primarily through reductions in transport, buildings, and industry, with renewables reaching 28% of total energy supply.
State of the Art Hybrid Solutions for Energy Storage and Grid Firming, by GE ...GE Power
- The impact of COP21 and growing renewable generating capacity are driving new behaviors and technologies; an increasing proportion of intermittent resources require power systems to adapt to large fluctuations in both supply and demand to maintain grid stability.
- The GE hybrid electric gas turbine (Hybrid EGTTM) addresses these challenges, coupling a 10-megawatt battery with a 50-megawatt GE LM6000 Gas Turbine, operated by an integrated digital turbine control system.
- Key benefits include “spinning reserve” without firing the gas turbine utilizing near instantaneous battery power through inverters, enhanced primary frequency response and voltage support, reduced greenhouse gas emissions, smooth transient response with less turbine thermal stress, thereby lowering maintenance costs, and lower T&D congestion.
The document discusses GE's Digital Power Plant software suite powered by Predix for coal-powered steam plants. The suite includes modules for business optimization, operations optimization, asset performance management, advanced controls and edge computing, and cyber security. The software allows for 1.5% increased plant efficiency, up to $50 million in value for operators over the plant's lifespan, a 0.5 gigaton reduction in greenhouse gas emissions, and 67,000 fewer tons of coal consumed per year. It works on GE, Alstom and most other coal power plants using over 10,000 sensors and Predix cloud-based big data analysis and artificial intelligence.
The document provides an agenda for the Italian Sustainability Day 2019 event held by ERG in Milan on July 2, 2019. It discusses ERG's successful industrial transformation from oil refining to renewable energy production over several decades. ERG's 2018-2022 business plan focuses on continued growth in renewable installed capacity, repowering of existing wind farms, and sustainability targets around reducing carbon emissions and enhancing human capital.
ERG provides a company overview and agenda for their January 2019 document. They discuss their successful industrial transformation from oil to renewables, with over €3.6 billion in oil-linked disposals and €4.3 billion in renewable investments between 2008-2018. Their strategy for 2018-2022 focuses on co-development and greenfield projects abroad, and repowering and reblading in Italy. They provide updates on recent developments including acquisitions boosting their UK wind pipeline to 163MW and greenfield projects securing over 247MW across multiple countries. M&A will also support growth in key geographies.
This document provides a summary of a company press meeting that took place on October 20, 2018 in Genoa. It discusses the company's successful industrial transformation from oil to renewables through strategic divestments and investments. The agenda covers the company's 2018-2022 business plan, recent developments in its business model, focus on technical expertise, the ongoing energy transition, financial targets, and mid-year 2018 results.
Jordan faces high energy costs and demand growth due to its reliance on imported energy. It aims to increase renewable energy to 10% of its energy mix by 2020 through various solar and wind projects totaling around 800 MW of each. Jordan has over 135 MW of operational renewable projects so far and another 900 MW under construction or development through different regulatory schemes including direct proposals, competitive bidding, EPC projects, and net metering. The presentation outlines Jordan's energy sector figures, regulatory framework, ongoing and future renewable projects, technical requirements, and applicable codes and standards to ensure quality assurance of PV power plants.
Energy and environmental impacts of biomass use in the residential Sector: a ...IEA-ETSAP
The document analyzes the energy and environmental impacts of increased biomass use in residential heating in Italy through 2030 under various policy scenarios. It finds that:
1) Under a reference scenario that meets 2020 targets, biomass consumption in the residential sector increases to around 19 Mtoe by 2030, accounting for over 60% of fine particulate emissions.
2) A constant biomass scenario that limits consumption to 2014 levels still meets emissions reductions but achieves a slightly different energy mix.
3) A deeper decarbonization scenario reduces emissions 36% by 2030 primarily through reductions in transport, buildings, and industry, with renewables reaching 28% of total energy supply.
State of the Art Hybrid Solutions for Energy Storage and Grid Firming, by GE ...GE Power
- The impact of COP21 and growing renewable generating capacity are driving new behaviors and technologies; an increasing proportion of intermittent resources require power systems to adapt to large fluctuations in both supply and demand to maintain grid stability.
- The GE hybrid electric gas turbine (Hybrid EGTTM) addresses these challenges, coupling a 10-megawatt battery with a 50-megawatt GE LM6000 Gas Turbine, operated by an integrated digital turbine control system.
- Key benefits include “spinning reserve” without firing the gas turbine utilizing near instantaneous battery power through inverters, enhanced primary frequency response and voltage support, reduced greenhouse gas emissions, smooth transient response with less turbine thermal stress, thereby lowering maintenance costs, and lower T&D congestion.
The document discusses GE's Digital Power Plant software suite powered by Predix for coal-powered steam plants. The suite includes modules for business optimization, operations optimization, asset performance management, advanced controls and edge computing, and cyber security. The software allows for 1.5% increased plant efficiency, up to $50 million in value for operators over the plant's lifespan, a 0.5 gigaton reduction in greenhouse gas emissions, and 67,000 fewer tons of coal consumed per year. It works on GE, Alstom and most other coal power plants using over 10,000 sensors and Predix cloud-based big data analysis and artificial intelligence.
The document discusses the techno-economic analysis of wind power investments, including calculation of key economic indicators such as net present value (NPV), internal rate of return (IRR), payback period, levelized cost of electricity (LCOE), and profitability index (PI). It provides definitions and formulas for each indicator, and highlights their advantages and weaknesses. The document also presents a numerical case study analyzing the economic feasibility of a 20MW wind farm project in Greece based on these indicators.
The document summarizes new policies by the Indian government related to gas pooling and pricing of urea production. Key points:
1) Gas pooling policy levels gas costs for all urea plants connected to the gas grid, removing the advantage of plants with access to cheaper domestic gas. This will incentivize competition based on energy efficiency rather than gas costs.
2) The new urea policy tightens energy consumption norms, reducing subsidies but incentivizing energy efficiency improvements. It also changes the pricing of production above reassessed capacity to a fixed contribution plus variable costs.
3) These policies aim to reduce subsidy costs, increase domestic production, and improve the industry's competitiveness through a common gas price and
Main findings Working Group 3: Mitigation of Climate ChangeAndy Dabydeen
The document summarizes key findings from the IPCC's 4th Assessment Working Group III report on mitigating climate change. Some of the main points include:
1) Human activities have increased global greenhouse gas emissions 70% between 1970-2004 and emissions are projected to continue growing in the coming decades without mitigation policies.
2) Significant emission reductions are possible through technologies available now or by 2030 across energy supply, transportation, buildings, industry, agriculture, forestry and waste sectors.
3) Modeling estimates mitigation policies could limit GDP impacts to below 3% and even provide economic benefits in some cases, while still allowing emissions to peak and decline below current levels by 2030.
4
2nd Annual Brazil Opportunities Conference - J.P. Morgan*CPFL RI
CPFL Energia is Brazil's largest private distributor and generator of electricity. It has a 13% share of the distribution market and a 2% share of the generation market. The company has grown in recent years through acquisitions of distribution companies, hydroelectric plants, and stakes in other generators. CPFL Energia focuses on operational efficiency, grid upgrades, and capturing growth opportunities through further acquisitions and expansion into new areas like biomass generation from sugar cane waste. Financial results in 2008 showed growth in energy sales but declines in revenue and profits due to regulatory tariff reductions and plant start-up costs.
ERG - italian investment conference 24-05-17ERG S.p.A.
This document contains certain forward-looking information that is subject
to a number of factors that may influence the accuracy of the statements
and the projections upon which the statements are based.
There can be non assurance that the projections or forecasts will ultimately
prove to be accurate; accordingly, the Company makes no representation or
warranty as to the accuracy of such information or the likelihood that the
Company will perform as projected.
This presentation looks at the challenge facing Irish farming both to grow output and limit greenhouse gas emissions from its largely livestock-based agriculture. It argues that putting a price on carbon emissions from agriculture would help to level the playing field with other land-based activities which can sequester carbon.
CCXG Global Forum October 2018 Breakout Group 3 by Tran Thanh ThuyOECD Environment
Viet Nam's nationally determined contribution outlines goals to reduce greenhouse gas emissions and transition to a low-carbon economy. Greenhouse gas emissions have increased from 103.8 MtCO2e in 1994 to 283.9 MtCO2e in 2014, with energy and agriculture as the largest contributing sectors. Under a business-as-usual scenario, emissions are projected to reach 888.8 MtCO2e by 2030. Nationally, Vietnam commits to an unconditional 9% reduction below the business-as-usual scenario by 2030 and a conditional 16% reduction with international support. Key mitigation options include improving energy efficiency and developing renewable energy in the energy sector and implementing agricultural irrigation and fertilizer management. Challenges to
Advanced Steam Path is GE's approach to high performance steam plant solutions. By blending hardware, software, and data, steam plant performance can be optimized as an entire ecosystem.
This document provides a summary of the Fingal Spatial Energy Demand Analysis report produced by Codema on behalf of Fingal County Council. The analysis spatially maps energy demand across Fingal County to identify opportunities for renewable energy and district heating. Key findings include: 1) Residential areas of Swords and Blanchardstown have heat densities suitable for district heating; 2) Portrane has an aging housing stock with low energy efficiency; and 3) Over €331 million is spent annually on energy in Fingal, highlighting the potential of indigenous renewable resources like solar. The energy mapping will support Fingal's Sustainable Energy and Climate Action Plan by identifying priority areas for energy strategies.
This document discusses integrating climate change risks into capital budgeting for solar PV plants using the SunBurn TestTM methodology. It begins with an outline and disclaimer, then provides background on climate change, capital budgeting, and a baseline financial model for a sample PV plant. It introduces the SunBurn TestTM climate risks register and risk management methodology. It applies this methodology to a hypothetical mini case scenario to analyze how selected climate risks would impact the baseline financial model, showing a 7.8% increase in the 25-year LCOE.
Department of alternative energy development and efficiency (dede)PSPSolutions.net
This document discusses Thailand's energy situation and plans to increase renewable energy and energy efficiency. It provides the following key points:
1) Thailand currently relies heavily on fossil fuels for its energy needs, with renewable energy making up only 12.94% of total energy consumption.
2) Thailand has set targets in its Alternative Energy Development Plan (AEDP) and Energy Efficiency Plan (EEP) to increase renewable energy to 30% of total energy consumption and reduce energy intensity by 30% by 2036.
3) The EEP outlines 10 measures to promote energy efficiency, including energy management systems, building energy codes, and standards and labeling for energy efficient products. Designated factories and buildings are required to
EFRAÍN VILLANUEVA ARCOS, General Director of Clean Energy, Ministry of Energy, SENER
IGC 2018 - Breaking the Barriers
The 4th Iceland Geothermal Conference will be hosted in Iceland in April 2018. The conference offers an in-depth discussion of the barriers that hinder development of the geothermal sector and how to overcome them. It also focuses on the business environment through three separate themes: vision, development, and operations. Having established itself as an important regular conference of the international community, IGC 2018 brought together more than 600 participants from 40 countries from around the world.
The 4th Iceland Geothermal Conference will be hosted in Iceland in April 2018. The conference offers an in-depth discussion of the barriers that hinder development of the geothermal sector and how to overcome them.
Korea Southern Power Company, Ltd. (KOSPO) is critical to South Korea’s growth, providing more than 11 percent of the country’s power. KOSPO used an innovative suite of hardware and software upgrades to meet the country's growing power demands while reducing fuel costs and lowering its emissions footprint.
New and renewable energy policy and investment in thailand 05-jun-13Peerasak C.
The document discusses Thailand's renewable energy policies and investments. It outlines Thailand's Alternative Energy Development Plan (AEDP) which aims to source 25% of the country's energy from renewable sources by 2021. It provides details on renewable energy targets and current capacity levels according to the AEDP. It also presents a case study of integrating renewable energy into the grid in Thailand's Northeast region, known as "I-sarn", which currently sources 84% of its energy from renewable sources including hydro, solar and wind power.
This document discusses climate negotiations and the energy landscape. It argues that negotiations need a long-term global climate goal along with consistent short- and long-term national greenhouse gas goals. Countries should report on progress toward both short- and long-term goals. The agreement should recognize actions outside the UNFCCC and track progress in key energy sector metrics to support climate goals. Metrics beyond just greenhouse gas reductions, like air quality and congestion, also drive energy sector changes important for climate.
Overview of solar power generation in indiaBinit Das
-Overall Indian solar capacity addition target vs. current progress
-Current competitive landscape in solar power generation in India
-Typical timeline / milestones for ground-mounted solar project implementation (incl. activity-wise phasing)
-Usual EPC supply chain for ground-mounted solar project
-Key EPC / implementation risks and other key challenges faced by solar developers in India
-Typical risk mitigation measures and key success factors
2nd Mediobanca Italian Infrastructure ConferenceERG S.p.A.
This document provides an overview of ERG S.p.A., an Italian renewable energy company, and summarizes their presentation at the 2nd Mediobanca Italian Infrastructure Conference on December 4-5, 2019 in Sydney. The presentation discusses ERG's industrial transformation from oil refining to renewable energy production over the past two decades. It highlights their diversified portfolio of wind, solar, hydro, and natural gas power generation assets across Europe totaling over 3 GW of installed capacity. The presentation also summarizes ERG's 2018-2022 strategy of sustainable growth through M&A transactions, greenfield development, and repowering projects. Financial projections show targets for adjusted EBITDA of €490-505 million and net
This document provides an overview of an Italian infrastructure company. It discusses the company's history dating back to 1938 and its transformation from oil refining to renewable energy production. The company has invested over €4.7 billion in wind, solar, hydroelectric, and natural gas assets. It is now a leading renewable independent power producer in Europe with over 3 gigawatts of installed capacity across 7 countries. The document also reviews the company's recent financial results, 2019 guidance, and strategic plans to further increase renewable energy capacity through 2023.
The document discusses the techno-economic analysis of wind power investments, including calculation of key economic indicators such as net present value (NPV), internal rate of return (IRR), payback period, levelized cost of electricity (LCOE), and profitability index (PI). It provides definitions and formulas for each indicator, and highlights their advantages and weaknesses. The document also presents a numerical case study analyzing the economic feasibility of a 20MW wind farm project in Greece based on these indicators.
The document summarizes new policies by the Indian government related to gas pooling and pricing of urea production. Key points:
1) Gas pooling policy levels gas costs for all urea plants connected to the gas grid, removing the advantage of plants with access to cheaper domestic gas. This will incentivize competition based on energy efficiency rather than gas costs.
2) The new urea policy tightens energy consumption norms, reducing subsidies but incentivizing energy efficiency improvements. It also changes the pricing of production above reassessed capacity to a fixed contribution plus variable costs.
3) These policies aim to reduce subsidy costs, increase domestic production, and improve the industry's competitiveness through a common gas price and
Main findings Working Group 3: Mitigation of Climate ChangeAndy Dabydeen
The document summarizes key findings from the IPCC's 4th Assessment Working Group III report on mitigating climate change. Some of the main points include:
1) Human activities have increased global greenhouse gas emissions 70% between 1970-2004 and emissions are projected to continue growing in the coming decades without mitigation policies.
2) Significant emission reductions are possible through technologies available now or by 2030 across energy supply, transportation, buildings, industry, agriculture, forestry and waste sectors.
3) Modeling estimates mitigation policies could limit GDP impacts to below 3% and even provide economic benefits in some cases, while still allowing emissions to peak and decline below current levels by 2030.
4
2nd Annual Brazil Opportunities Conference - J.P. Morgan*CPFL RI
CPFL Energia is Brazil's largest private distributor and generator of electricity. It has a 13% share of the distribution market and a 2% share of the generation market. The company has grown in recent years through acquisitions of distribution companies, hydroelectric plants, and stakes in other generators. CPFL Energia focuses on operational efficiency, grid upgrades, and capturing growth opportunities through further acquisitions and expansion into new areas like biomass generation from sugar cane waste. Financial results in 2008 showed growth in energy sales but declines in revenue and profits due to regulatory tariff reductions and plant start-up costs.
ERG - italian investment conference 24-05-17ERG S.p.A.
This document contains certain forward-looking information that is subject
to a number of factors that may influence the accuracy of the statements
and the projections upon which the statements are based.
There can be non assurance that the projections or forecasts will ultimately
prove to be accurate; accordingly, the Company makes no representation or
warranty as to the accuracy of such information or the likelihood that the
Company will perform as projected.
This presentation looks at the challenge facing Irish farming both to grow output and limit greenhouse gas emissions from its largely livestock-based agriculture. It argues that putting a price on carbon emissions from agriculture would help to level the playing field with other land-based activities which can sequester carbon.
CCXG Global Forum October 2018 Breakout Group 3 by Tran Thanh ThuyOECD Environment
Viet Nam's nationally determined contribution outlines goals to reduce greenhouse gas emissions and transition to a low-carbon economy. Greenhouse gas emissions have increased from 103.8 MtCO2e in 1994 to 283.9 MtCO2e in 2014, with energy and agriculture as the largest contributing sectors. Under a business-as-usual scenario, emissions are projected to reach 888.8 MtCO2e by 2030. Nationally, Vietnam commits to an unconditional 9% reduction below the business-as-usual scenario by 2030 and a conditional 16% reduction with international support. Key mitigation options include improving energy efficiency and developing renewable energy in the energy sector and implementing agricultural irrigation and fertilizer management. Challenges to
Advanced Steam Path is GE's approach to high performance steam plant solutions. By blending hardware, software, and data, steam plant performance can be optimized as an entire ecosystem.
This document provides a summary of the Fingal Spatial Energy Demand Analysis report produced by Codema on behalf of Fingal County Council. The analysis spatially maps energy demand across Fingal County to identify opportunities for renewable energy and district heating. Key findings include: 1) Residential areas of Swords and Blanchardstown have heat densities suitable for district heating; 2) Portrane has an aging housing stock with low energy efficiency; and 3) Over €331 million is spent annually on energy in Fingal, highlighting the potential of indigenous renewable resources like solar. The energy mapping will support Fingal's Sustainable Energy and Climate Action Plan by identifying priority areas for energy strategies.
This document discusses integrating climate change risks into capital budgeting for solar PV plants using the SunBurn TestTM methodology. It begins with an outline and disclaimer, then provides background on climate change, capital budgeting, and a baseline financial model for a sample PV plant. It introduces the SunBurn TestTM climate risks register and risk management methodology. It applies this methodology to a hypothetical mini case scenario to analyze how selected climate risks would impact the baseline financial model, showing a 7.8% increase in the 25-year LCOE.
Department of alternative energy development and efficiency (dede)PSPSolutions.net
This document discusses Thailand's energy situation and plans to increase renewable energy and energy efficiency. It provides the following key points:
1) Thailand currently relies heavily on fossil fuels for its energy needs, with renewable energy making up only 12.94% of total energy consumption.
2) Thailand has set targets in its Alternative Energy Development Plan (AEDP) and Energy Efficiency Plan (EEP) to increase renewable energy to 30% of total energy consumption and reduce energy intensity by 30% by 2036.
3) The EEP outlines 10 measures to promote energy efficiency, including energy management systems, building energy codes, and standards and labeling for energy efficient products. Designated factories and buildings are required to
EFRAÍN VILLANUEVA ARCOS, General Director of Clean Energy, Ministry of Energy, SENER
IGC 2018 - Breaking the Barriers
The 4th Iceland Geothermal Conference will be hosted in Iceland in April 2018. The conference offers an in-depth discussion of the barriers that hinder development of the geothermal sector and how to overcome them. It also focuses on the business environment through three separate themes: vision, development, and operations. Having established itself as an important regular conference of the international community, IGC 2018 brought together more than 600 participants from 40 countries from around the world.
The 4th Iceland Geothermal Conference will be hosted in Iceland in April 2018. The conference offers an in-depth discussion of the barriers that hinder development of the geothermal sector and how to overcome them.
Korea Southern Power Company, Ltd. (KOSPO) is critical to South Korea’s growth, providing more than 11 percent of the country’s power. KOSPO used an innovative suite of hardware and software upgrades to meet the country's growing power demands while reducing fuel costs and lowering its emissions footprint.
New and renewable energy policy and investment in thailand 05-jun-13Peerasak C.
The document discusses Thailand's renewable energy policies and investments. It outlines Thailand's Alternative Energy Development Plan (AEDP) which aims to source 25% of the country's energy from renewable sources by 2021. It provides details on renewable energy targets and current capacity levels according to the AEDP. It also presents a case study of integrating renewable energy into the grid in Thailand's Northeast region, known as "I-sarn", which currently sources 84% of its energy from renewable sources including hydro, solar and wind power.
This document discusses climate negotiations and the energy landscape. It argues that negotiations need a long-term global climate goal along with consistent short- and long-term national greenhouse gas goals. Countries should report on progress toward both short- and long-term goals. The agreement should recognize actions outside the UNFCCC and track progress in key energy sector metrics to support climate goals. Metrics beyond just greenhouse gas reductions, like air quality and congestion, also drive energy sector changes important for climate.
Overview of solar power generation in indiaBinit Das
-Overall Indian solar capacity addition target vs. current progress
-Current competitive landscape in solar power generation in India
-Typical timeline / milestones for ground-mounted solar project implementation (incl. activity-wise phasing)
-Usual EPC supply chain for ground-mounted solar project
-Key EPC / implementation risks and other key challenges faced by solar developers in India
-Typical risk mitigation measures and key success factors
2nd Mediobanca Italian Infrastructure ConferenceERG S.p.A.
This document provides an overview of ERG S.p.A., an Italian renewable energy company, and summarizes their presentation at the 2nd Mediobanca Italian Infrastructure Conference on December 4-5, 2019 in Sydney. The presentation discusses ERG's industrial transformation from oil refining to renewable energy production over the past two decades. It highlights their diversified portfolio of wind, solar, hydro, and natural gas power generation assets across Europe totaling over 3 GW of installed capacity. The presentation also summarizes ERG's 2018-2022 strategy of sustainable growth through M&A transactions, greenfield development, and repowering projects. Financial projections show targets for adjusted EBITDA of €490-505 million and net
This document provides an overview of an Italian infrastructure company. It discusses the company's history dating back to 1938 and its transformation from oil refining to renewable energy production. The company has invested over €4.7 billion in wind, solar, hydroelectric, and natural gas assets. It is now a leading renewable independent power producer in Europe with over 3 gigawatts of installed capacity across 7 countries. The document also reviews the company's recent financial results, 2019 guidance, and strategic plans to further increase renewable energy capacity through 2023.
This document provides an agenda and background information for the Italian Sustainability Day 2018 conference in Milan on July 2, 2018. It summarizes ERG's transformation from an oil company into a renewable energy company, with an installed capacity that will grow from 2.8GW in 2017 to around 3.6GW by 2022 through greenfield development, repowering, and M&A. It also outlines ERG's strategic focus on sustainability, with goals such as increasing annual green energy production to around 10TWh and reducing CO2 emissions by 15 million tons by 2022.
Luca Bettonte, CEO of ERG, presented the company's full year 2019 results. Key highlights included adjusted EBITDA of €504 million, adjusted net profit of €104 million, and adjusted net financial position of €1,476 million. Business growth continued with further onshore wind and solar capacity additions. Despite challenging conditions in core markets, ERG executed on its business plan and remained on track to achieve its 2022 targets. Guidance for 2020 forecasts higher adjusted EBITDA and lower capex versus 2019.
ERG reported strong second quarter 2018 results, with adjusted EBITDA of €277 million, up 8% from the second quarter of 2017. Wind generation was impacted by weak wind conditions, while hydro benefited from strong hydrological resources. The company increased its 2018 adjusted EBITDA guidance to a range of €490-500 million and net debt guidance to approximately €1.35 billion, following the acquisition of a wind farm project in the UK. Liability management actions in the first half of 2018 resulted in a €4.5 million reduction in annual net financial costs.
This document provides a summary of FY 2018 results and a strategy update for Luca Bettonte, CEO. The key highlights are that adjusted EBITDA came in at €491 million, within guidance range, and net financial position was €1,343 million, consistent with revised guidance. Guidance for 2019 projects adjusted EBITDA of €495-€515 million, capex of €340-€370 million, and net financial position of €1,360-€1,440 billion. The presentation also provides an update to ERG's 2018-2022 business plan, outlining progress on greenfield development, repowering, and capacity growth targets.
The document summarizes the key figures and results for ERG's first quarter of 2018. Adjusted EBITDA increased to €162 million compared to €151 million in 1Q 2017. Net profit increased to €56 million from €54 million. Guidance for 2018 was confirmed at €475 million for adjusted EBITDA and increased adjusted net financial position guidance to €1.3 billion. Results were positively impacted by good wind conditions in Italy and abroad as well as sound hydro conditions. The acquisition of Epuron was also announced which increased Capex guidance to €500 million.
This document provides a summary of ERG's 2015-2018 business plan, which focuses on expanding and diversifying the company's renewable energy portfolio. Key points include:
- ERG recently invested €950 million to acquire 527MW of hydroelectric capacity and €500 million to add 370MW of wind farms.
- The plan aims to further increase installed wind capacity to over 1,700MW by 2018 through 200MW of new organic growth projects internationally.
- Other strategic priorities include consolidating newly acquired hydro and wind assets, pursuing operational efficiencies, and developing an energy management business to control portfolio risks.
2Q 2019 Results
- Adjusted EBITDA was €110 million, down slightly from €114 million in 2Q 2018.
- Greenfield development pipeline remains on track at approximately 350MW.
- Repowering and reblading projects are progressing with additional capacity in the authorization and engineering phases.
- 2019 guidance was fine-tuned with an Adjusted EBITDA range of €495-505 million and Adjusted NFP revised to €1.39-1.47 billion.
- ERG reported strong second quarter 2015 results, with adjusted EBITDA of €86 million, up 15% compared to the second quarter of 2014.
- In August, ERG acquired E.ON's Italian hydro business for €0.95 billion, adding 527MW of hydro capacity. The acquisition improves the complementarity of ERG's generation portfolio.
- ERG also acquired 6 wind farms in France for €72 million, doubling its capacity in the country to 127MW. For 2015, ERG increased its EBITDA guidance to €230 million and net debt guidance to €600 million to reflect these acquisitions.
Snam reported its FY2019 results, which showed continued growth. Key highlights included:
- Regulated revenues grew 2.6% and EBITDA grew 3.5%
- Net income increased 8.2% due to lower financial charges and higher income from associates
- International portfolio contributed €33 million in net income, benefiting from one-off items
- €51 million in cost savings achieved through efficiency programs, with €60 million targeted by 2020
- Strong financial position with 2020 refinancing needs covered and €3.2 billion in undrawn credit facilities
2017 ANNUAL RESULTS AND 2018-2022 BUSINESS PLANERG S.p.A.
ERG presented its 2017 annual results and 2018-2022 business plan at an investor day on March 8, 2018. The company achieved strong operating results in 2017, exceeding guidance on key financial metrics such as EBITDA and net financial position. ERG has successfully transformed its business from oil to renewables through acquisitions and divestitures, with its capital now fully rotated to wind, solar, and hydro power generation. The new business plan aims to further grow the company's renewable installed capacity to over 1.7 GW by 2022 through organic growth and M&A.
Corporate Presentation CPFL Energia - May 2017CPFL RI
This document provides an overview of CPFL Energia, including:
1) CPFL Energia is the largest integrated private electricity company in Brazil with a market cap of R$26.5 billion and presence in distribution, generation, renewable energy and services.
2) In the last 12 months, CPFL Energia achieved an EBITDA of R$4,287 million and net income of R$879 million.
3) CPFL Energia has 9 distribution subsidiaries serving 9.3 million customers, 3,258 MW of installed generation capacity of which 94% is renewable, and is a leader in value-added energy services in Brazil.
Green Industry Policy in support of Net-Zero Emission achievements: Astika An...OECD Environment
"Challenges and best practices in financing to accelerate industry decarbonisation", OECD Series of Webinars on low carbon hydrogen and industry decarbonisation, 14 June 2023
1. ERG reported results for 1Q 2020, with adjusted EBITDA of €156 million, down slightly from €164 million in 1Q 2019 due to weaker wind conditions in Italy and a tough price environment exacerbated by Covid-19.
2. In response to Covid-19, ERG implemented remote working for over 70% of employees and safety measures at production sites while continuing operations as an essential service. ERG also allocated €2 million to local healthcare systems.
3. Guidance for 2020 was revised downward with adjusted EBITDA expected between €480-500 million compared to the original €500-520 million range, and CAPEX lowered to €150-180 million from €
IEA Technology roadmap solar photovoltaic energy 2014 Andrew Gelston
This document provides a summary and update of the International Energy Agency's 2014 technology roadmap for solar photovoltaic energy. It envisions solar PV providing up to 16% of global electricity by 2050, compared to 11% in the 2010 roadmap. Significant cost reductions have already been achieved, with further reductions possible through targeted research and development. Large-scale integration of variable solar PV will require measures to ensure grid stability and flexibility. Clear and predictable policy support is needed to continue driving down costs and overcoming non-economic barriers to deployment in order to achieve the roadmap's vision.
The document provides financial results for the first 9 months of 2023. Key points include:
- Adjusted EBITDA of €1,862 million, up 9.1% year-over-year.
- Adjusted net income of €942 million, up 1.1% year-over-year.
- Net debt of €14,336 million, higher than 2022 level due to investments including the SeaCorridor acquisition.
- Guidance for full-year 2023 is confirmed.
Since 2010, the world has added more solar photovoltaic (PV) capacity than in the previous four decades. New systems were installed in 2013 at a rate of 100 megawatts (MW) of capacity per day. Total global capacity overtook 150 gigawatts (GW) in early 2014. The geographical pattern of deployment is rapidly changing. While a few European countries, led by Germany and Italy, initiated large-scale PV development, PV systems are now expanding in other parts of the world, often under sunnier skies. Since 2013, the People’s Republic of China has led the global PV market, followed by Japan and the United States. PV system prices have been divided by three in six years in most markets, while module prices have been divided by five. The cost of electricity from new built systems varies from USD 90 to USD 300/MWh depending on the solar resource; the type, size and cost of systems; maturity of markets and costs of capital. This roadmap envisions PV’s share of global electricity reaching 16% by 2050, a significant increase from the 11% goal in the 2010 roadmap. PV generation would contribute 17% to all clean electricity, and 20% of all renewable electricity. China is expected to continue leading the global market, accounting for about 37% of global capacity by 2050. Achieving this roadmap’s vision of 4 600 GW of installed PV capacity by 2050 would avoid the emission of up to 4 gigatonnes (Gt) of carbon dioxide (CO2) annually. This roadmap assumes that the costs of electricity from PV in different parts of the world will converge as markets develop, with an average cost reduction of 25% by 2020, 45% by 2030, and 65% by 2050, leading to a range of USD 40 to 160/MWh, assuming a cost of capital of 8%. To achieve the vision in this roadmap, the total PV capacity installed each year needs to rise rapidly, from 36 GW in 2013 to 124 GW per year on average, with a peak of 200 GW per year between 2025 and 2040. Including the cost of repowering – the replacement of older installations – annual investment needs to reach an average of about USD 225 billion, more than twice that of 2013.
The document summarizes Eskom's Just Energy Transition (JET) strategy, which aims to achieve net zero carbon emissions by 2050 while increasing sustainable jobs. Key points include:
- Eskom's vision is to achieve net zero emissions by 2050 through partnerships to accelerate renewable energy and repurposing coal plants, while ensuring positive social and economic impacts.
- Modelling shows that shutting down 21.8GW of coal capacity by 2035 will require over 50GW of new clean generation like wind, solar, batteries and gas to replace it and meet demand.
- The strategy's focus areas are clean energy provision, social impact through localization and jobs, attracting green financing, and cross-
- 3Q 2019 adjusted EBITDA was €107 million, slightly higher than the €105 million in 3Q 2018.
- Wind, hydro, and CCGT saw higher adjusted EBITDA compared to last year while solar was lower.
- Total investments in 9M 2019 were €401 million, primarily driven by M&A activity including the Barkow acquisition.
- Guidance for full-year 2019 adjusted EBITDA was confirmed at €495-505 million while net debt and CAPEX guidance ranges were revised.
Similar to ERG @ Digital Sustainability Week (July 2020) (20)
Luca Bettonte, CEO, presented the company's 2Q 2020 results. Key highlights included adjusted EBITDA of €263 million for 1H 2020, in line with guidance despite challenging market conditions from COVID-19. Total investments were €86 million for the period. Project pipelines remained on track with 280MW under construction/ready-to-build projects. Guidance for 2020 was confirmed with adjusted EBITDA of €480-500 million and net debt of €1.35-1.43 billion.
UniCredit European Energy & Utilities Credit Conference 2019ERG S.p.A.
ERG presented its operating segments at the UniCredit European Energy & Utilities Credit Conference in London on November 20th, 2019. ERG has a well-positioned European wind portfolio with 1,929 MW of installed capacity, making it the largest wind operator in Italy. Its 527 MW of hydroelectric assets position it among the top players in Italy for hydro. ERG's solar portfolio has grown to 141 MW of installed capacity. The company's 480 MW CCGT plant in Sicily provides strong cash flow visibility.
In the 1Q 2019 results document:
- ERG reported adjusted EBITDA of €164 million, up slightly from €162 million in 1Q 2018.
- Net debt increased to €1.514 billion from €1.343 billion at the end of 2018, due to investments and acquisitions totaling €233 million in the quarter.
- Guidance for 2019 was confirmed, with expected adjusted EBITDA of €495-515 million and net debt of €1.36-1.44 billion.
- ERG reported good third quarter 2018 results thanks to its diversified generation mix. Adjusted EBITDA was €381 million for 3Q 2018 and €356 million for 3Q 2017.
- Electricity production was in line with the previous year despite weaker wind conditions in some markets. Hydro and CCGT benefited from good availability and margins.
- Net financial position was €1,389 million as of September 30, 2018, including a vendor loan of €37 million. The company expects full year net financial position of approximately €1,350 million.
- Guidance for 2018 adjusted EBITDA and capital expenditures were confirmed at €490-500 million and €520-540 million, respectively.
This document provides a company profile for a renewable energy company. It details the company's current installed renewable energy capacity, including 2,500MW of wind, 150MW of solar, 527MW of water, and 480MW of natural gas. The company's annual production is projected to be around 10TWh by 2022, with a total energy portfolio of around 15TWh including hedging and other sales. The profile also provides a brief history of the company and encourages following the company on social media.
This document contains certain forward-looking information that is subject to a number of factors that may influence the accuracy of the statements and the projections upon which the statements are based. There can be non assurance that the projections or forecasts will ultimately
prove to be accurate; accordingly, the Company makes no representation or warranty as to the accuracy of such information or the likelihood that the Company will perform as projected.
This document contains certain forward-looking information that is subject
to a number of factors that may influence the accuracy of the statements
and the projections upon which the statements are based.
There can be non assurance that the projections or forecasts will ultimately
prove to be accurate; accordingly, the Company makes no representation or
warranty as to the accuracy of such information or the likelihood that the
Company will perform as projected.
This document contains certain forward-looking information that is subject to a number of factors that may influence the accuracy of the statements and the projections upon which the statements are based.
There can be non assurance that the projections or forecasts will ultimately prove to be accurate; accordingly, the Company makes no representation or warranty as to the accuracy of such information or the likelihood that the Company will perform as projected.
Third quarter 2016 results document highlights:
1) ERG reported strong third quarter 2016 results with adjusted EBITDA of €78 million, up from €66 million in third quarter 2015.
2) ERG reorganized into a leaner structure with the merger of subsidiaries to create a single generation company.
3) Guidance for 2016 was confirmed with adjusted EBITDA of €380 million and adjusted net debt of €1.65 billion.
ERG reported its second quarter 2016 results, highlighting several key achievements:
- Group EBITDA was €273 million, a strong set of results spread across all business areas.
- The debt structure was optimized through refinancing and prepayment activities, reducing interest costs.
- Guidance for 2016 was confirmed, with EBITDA expected to be approximately €400 million, CAPEX around €440 million, and adjusted net financial position of approximately €1.73 billion.
In the first quarter of 2016, ERG reported solid financial results. Total installed capacity increased to 1,720 MW due to acquisitions. Adjusted EBITDA was €163 million, up from €111 million in the first quarter of 2015. Guidance for 2016 was confirmed with adjusted EBITDA of €400 million, CAPEX of €440 million, and adjusted net financial position of €1.73 billion.
ERG reported its first quarter 2015 results, with key figures driven higher by renewables. Renewables production and revenue increased in Italy and abroad, while regulatory changes in Italy penalized power segment results. Group EBITDA was €111 million, with renewables contributing €95 million. Net debt was €409 million and guidance for 2015 was revised to reflect the deconsolidation of TotalErg.
Monitor indicators of genetic diversity from space using Earth Observation dataSpatial Genetics
Genetic diversity within and among populations is essential for species persistence. While targets and indicators for genetic diversity are captured in the Kunming-Montreal Global Biodiversity Framework, assessing genetic diversity across many species at national and regional scales remains challenging. Parties to the Convention on Biological Diversity (CBD) need accessible tools for reliable and efficient monitoring at relevant scales. Here, we describe how Earth Observation satellites (EO) make essential contributions to enable, accelerate, and improve genetic diversity monitoring and preservation. Specifically, we introduce a workflow integrating EO into existing genetic diversity monitoring strategies and present a set of examples where EO data is or can be integrated to improve assessment, monitoring, and conservation. We describe how available EO data can be integrated in innovative ways to support calculation of the genetic diversity indicators of the GBF monitoring framework and to inform management and monitoring decisions, especially in areas with limited research infrastructure or access. We also describe novel, integrative approaches to improve the indicators that can be implemented with the coming generation of EO data, and new capabilities that will provide unprecedented detail to characterize the changes to Earth’s surface and their implications for biodiversity, on a global scale.
Kinetic studies on malachite green dye adsorption from aqueous solutions by A...Open Access Research Paper
Water polluted by dyestuffs compounds is a global threat to health and the environment; accordingly, we prepared a green novel sorbent chemical and Physical system from an algae, chitosan and chitosan nanoparticle and impregnated with algae with chitosan nanocomposite for the sorption of Malachite green dye from water. The algae with chitosan nanocomposite by a simple method and used as a recyclable and effective adsorbent for the removal of malachite green dye from aqueous solutions. Algae, chitosan, chitosan nanoparticle and algae with chitosan nanocomposite were characterized using different physicochemical methods. The functional groups and chemical compounds found in algae, chitosan, chitosan algae, chitosan nanoparticle, and chitosan nanoparticle with algae were identified using FTIR, SEM, and TGADTA/DTG techniques. The optimal adsorption conditions, different dosages, pH and Temperature the amount of algae with chitosan nanocomposite were determined. At optimized conditions and the batch equilibrium studies more than 99% of the dye was removed. The adsorption process data matched well kinetics showed that the reaction order for dye varied with pseudo-first order and pseudo-second order. Furthermore, the maximum adsorption capacity of the algae with chitosan nanocomposite toward malachite green dye reached as high as 15.5mg/g, respectively. Finally, multiple times reusing of algae with chitosan nanocomposite and removing dye from a real wastewater has made it a promising and attractive option for further practical applications.
Download the Latest OSHA 10 Answers PDF : oyetrade.comNarendra Jayas
Latest OSHA 10 Test Question and Answers PDF for Construction and General Industry Exam.
Download the full set of 390 MCQ type question and answers - https://www.oyetrade.com/OSHA-10-Answers-2021.php
To Help OSHA 10 trainees to pass their pre-test and post-test we have prepared set of 390 question and answers called OSHA 10 Answers in downloadable PDF format. The OSHA 10 Answers question bank is prepared by our in-house highly experienced safety professionals and trainers. The OSHA 10 Answers document consists of 390 MCQ type question and answers updated for year 2024 exams.
Optimizing Post Remediation Groundwater Performance with Enhanced Microbiolog...Joshua Orris
Results of geophysics and pneumatic injection pilot tests during 2003 – 2007 yielded significant positive results for injection delivery design and contaminant mass treatment, resulting in permanent shut-down of an existing groundwater Pump & Treat system.
Accessible source areas were subsequently removed (2011) by soil excavation and treated with the placement of Emulsified Vegetable Oil EVO and zero-valent iron ZVI to accelerate treatment of impacted groundwater in overburden and weathered fractured bedrock. Post pilot test and post remediation groundwater monitoring has included analyses of CVOCs, organic fatty acids, dissolved gases and QuantArray® -Chlor to quantify key microorganisms (e.g., Dehalococcoides, Dehalobacter, etc.) and functional genes (e.g., vinyl chloride reductase, methane monooxygenase, etc.) to assess potential for reductive dechlorination and aerobic cometabolism of CVOCs.
In 2022, the first commercial application of MetaArray™ was performed at the site. MetaArray™ utilizes statistical analysis, such as principal component analysis and multivariate analysis to provide evidence that reductive dechlorination is active or even that it is slowing. This creates actionable data allowing users to save money by making important site management decisions earlier.
The results of the MetaArray™ analysis’ support vector machine (SVM) identified groundwater monitoring wells with a 80% confidence that were characterized as either Limited for Reductive Decholorination or had a High Reductive Reduction Dechlorination potential. The results of MetaArray™ will be used to further optimize the site’s post remediation monitoring program for monitored natural attenuation.
2. DISCLAIMER
This document contains certain forward-looking information that is subject to a
number of factors that may influence the accuracy of the statements and the
projections upon which the statements are based.
There can be non assurance that the projections or forecasts will ultimately prove to
be accurate; accordingly, the Company makes no representation or warranty as to
the accuracy of such information or the likelihood that the Company will perform as
projected.
2
3. AGENDA
A successful industrial transformation
2018-2022 Business Plan and ESG Strategy
A focus on Sustainability
ERG Green Bond
ERG in a nutshell at 31.12.2019
3
5. 5
A LONG HISTORY…
1938 1975
1997
2000
2006
2008
2010
2013
2014
2015
2016
2017
2018
2019
Edoardo Garrone
founds ERG in Genoa.
Production commences
at the San Quirico
Refinery in Genoa.
The ERG share
is listed on the
Stock Exchange.
Production commences
at the ISAB Refinery in
Priolo.
ERG - through ISAB
Energy - starts to
produce and sell
electricity from the
gasification of the
heavy residues from
refinement.
ERG enters the
renewables sector
with the acquisition
of EnerTAD.
ERG transfers the
ISAB Energy plant
and the fuel network
of ERG Oil Sicily.
ERG enters the wind
market in the United
Kingdom with a
47.5MW project.
At the end of 2016,
installed wind
capacity is 1,720MW.
ERG enters the solar
power sector (30
photovoltaic plants
acquired, 89MW in
operation).
ERG sells 49% of the
ISAB Refinery to LUKOIL.
ERG becomes the leading
wind operator in Italy
with an installed capacity
of 1,087MW and among
the top ten in Europe, and
acquires a company for
wind farm O&M activities.
ERG transfers the ISAB
Refinery and completes
its exit from refining.
ERG acquires 6 wind
farms in France (64MW)
and constructs 3 wind
farms in Poland for a
total of 82MW.
At the end of 2015,
installed wind capacity is
1,506MW.
ERG’s growth in the
wind sector continues:
48MW in operation in
Germany; 16MW in
operation in France.
At the end of 2017,
installed wind capacity
in Europe is 1,814MW.
ERG enters the
hydroelectric sector
with plants in Umbria,
the Marches and Lazio
(527MW).
ERG closed the
acquisition of
Andromeda (51MW)
assets, increasing its
PV total capacity up
to 141MW.
Wind: ERG acquired
52MW in France and
34MW in Germany.
1947
TotalERG is
established, a joint
venture for the sale of
oil products.
Definitive exit from Oil
with the sale of
TotalERG.
ERG Power’s
combined cycle power
plant (480MW) fuelled
by natural gas enters
operation.
6. 6
A RAPID TRANSFORMATION AND…
24.7x
Capital Employed
2008 (€2.2bn) 2014 (€2.1bn)
SolarHydroNatural Gas WindOil
2019(1) (€3.3bn)
2008-2014-2019 EBITDA
2008 2014 2019(1)
125kt 1,020kt 3,086kt
CO2 Avoided
2008 2014 2019 2008-2019
(1) Adjusted figures, not including the effect of IFRS 16
7. … A SUSTAINABLE EVOLUTION
7
ERG’s Sustainability numbersDecarbonising ERG’s electricity production
• ERG’s business transformation: increasing production of electricity from
renewable sources
• In this way, by the end of 2019 ERG had reduced the carbon intensity of
its production by 90% since it entered the renewable energies sector and
by 37% in the last 4 years
Source: non financial information statements
(1) The Carbon index drop in 2010 was due to the entrance into operation of the ERG Power plant which replaced the existing oil fed power plants.
(2) The Carbon index drop in 2014 was due to the sale of the ISAB Energy plant.
CO2 avoided by production of
electricity from renewable sources
3,086kt
2.6GW
Installed capacity from renewable
sources
100%
ISO 14001 and/or OHSAS 18001 –
ISO 450001 certified Italian companies
consistent with their activities
RESProduction(GWh)
Carbon Index (gCO2/kWh) & RES Productions
(1) (2)
8. STEADY AND WELL BALANCED PORTFOLIO
(1) It refers to Romania, Bulgaria and Poland
(2) Wind EBITDA with incentive, Hydro EBITDA with incentive, 100% Solar EBITDA
EBITDA Breakdown FY19
• 70% of EBITDA from incentives
• EBITDA well balanced across different generation assets
• Geographical and seasonal diversification, allowing for complementarity of the different energy sources
• Earnings stability sustained by priority of dispachtment
SOLAR WIND
HYDRO CCGT
FULLY
INCENTIVISED
REVENUE STRUCTURE
AMPLE
GEOGRAPHICAL
DIVERSIFICATION
SYSTEM BALANCING
ROLE WITH STABLE
CASHFLOWS
LARGE SHARE OF
PROGRAMMABLE
SUPPLY
Incentivised(2)
70%
Merchant
20%
TEE/PPA CCGT
10%
Wind
58%
Hydro
17%
CCGT
13%
Solar
12%
France
9%
Germany
6%
Europe(1)
6%
Italy
79%
8
By Geography
By Incentive By Business
9. BALANCED GROUP STRUCTURE SERVING INTERESTS
OF ALL STAKEHOLDERS
Fully independent and experienced management team paired with a constructive involvement by majority shareholder
• San Quirico S.p.A. and Polcevera S.A. are controlled by ERG founding family
• The Garrone family holds key positions in ERG (Chairman and Executive Deputy Chairman) and defines ERG long-term
strategy along with the Top Management through the Strategic Committee, whilst the Board of Directors is composed
mainly (6 out of 12) of independent directors and it is fully committed to the interests of every stakeholder
• The top management operates within a strict financial discipline, while following a strong risk management policy
7%
1%
36%
Shareholders’ structure
San Quirico
S.p.A.
55.6%
Polcevera Srl
6.9%
Treasury shares
1.0%
Free Float
36.5%
San Quirico /
Polcevera
Free Float
ERG Power Generation S.p.A
Wind Sun Water Natural Gas
62.5% 36.5%
100%
9
12. 12
ERG KEEPS GROWING ON TRACK WITH BP TARGETS
STRONG EXECUTION FROM 2018 TO DATE
+250MW
+260MW
M&A:
Repowering:
Greenfield &
Co Dev:
+350MW
Growth in installed capacity (MW)
≃3,600
+≃850MW
//
2,774
(1) Closing took place on February 12, 2019
(2) Closing took place on May 6, 2019
(3) Closing took place on September 13, 2019
(4) Closing took place on February 24, 2020
+≃850MW
3,116
//
Wind: 77MW
Vent D’Est 16MW
Vaa2 13MW
Le Melier (EPURON) 8MW
Torfou (EPURON) 18MW
Linda 22MW
Solar: 141MW
ForVei 90MW
Andromeda(1) 51MW
Wind: 124MW
Polaris(2) 52MW
Barkow(3) 34MW
Trinity(4) 38MW
265 77
M&A
Greenfield & CoDev
13. 2018-2022 ESG TARGETS AND 2019 KPI
13
The 2018–2022 Business Plan is focused on a continuous development of plants producing energy from
renewable sources and sets targets on three main priority areas:
(1) Carbon index (gCO2/kWh) reveals the quantity of CO2 included in every kWh produced
14. 14
IMMEDIATE REACTION TOWARDS COVID-19
ERG’s
Operations
Local
Communities
Employees • No reduction in staff and no mandatory temporary leaves
• Collective bargaining on:
- adoption of appropriate safety measures for employees in the production sites
- reorganization of O&M activities, production plant & Control room
- smart working extended to over 70% of corporate population, nearly 100% of office staff
- crisis management scheme in event of mutual infection between employees into a shift
• Enchanced IT resources: 10X rise in remote meetings thanks to most advanced platforms
• Covid-19 health insurance for all the employees
• ERG allocated €2mn to support the healthcare system where its production sites operate
• ERG’s people donated 2,300 hours of their work to the Civil Protection Department
• ERG’s majority shareholder, allocated €1mn in favour of Genoa’s front-line hospitals
• ERG supports 2 projects of the Fondation des Hopitaux de France in favour of healthcare
professionals and of rest homes for the elderly
• Set a Daily WAR-cabinet meeting with top-mgmt to ensuring business continuity
• Electricity supply among the essential services in this period of emergency
• Put in place a set of measures to guarantee the best-in-class H&S standards for ERG people
• Some delays in construction investment program and authorization process
• Tough trading environment, although most of the electricity production already hedged
15. A STRONG ACTION TO FACE CLIMATE CHANGE
15
• April 2019: ERG signed the Committment Letter
• May 2019: ERG submitted its targets for validation
according to BP ratios
• Full disclosure on climate change approach
- Governance divided between the Board
(strategic view) and Management (operations)
Strategy for Climate Change
2018-2022
capacity addition:
100% Renewables
Renewables
Carbon index down
by about 14%
Decarbonisation
Green energy
procurement to cut
scope 2 emissions
Energy Transition
16. A SOLID PIPELINE TO BOOST FUTURE GROWTH
16
54
MW
70
MW
82
MW272
MW
398(2)
MW
480
MW
527
MW
1,093
MW
Wind Farm in operation
Wind Pipeline
Hydroelectric Plant
CCGT
Solar Plant
90%
141
MW
443
MW
302
MW 244
MW
36
MW
822MW
10%
40%
26%
100%
443
MW
302
MW
244
MW
822
MW
Wind Pipeline as of today
≃1,850
MW
51%
49%
100%
36
MW
34%
Total installed Capacity as of today
527
MW
141
MW
480
MW
100%
100%
100%
1,968
MW
56%
20%
14%
(1) It refers to Poland, Romania and Bulgaria
(2) It includes Trinity acquisition of 38MW, whose closing took place on February 24, 2020
Secured
RPW with COD by 2022
Under construction
Pipeline
10%
Hydro
Solar
CCGT
Wind
3,116
MW
(1)
17. REPOWERING & REBLADING IN PROGRESS
17
Repowering Project Portfolio in Italy
Reblading Project Portfolio
(1) Waiting for TSO confirmation
No. of projects MW Expected COD
1 13 In operation in 2Q 2019 2Q 2019
1 2 In construction 2Q 2020
1 20 Obtained VIA Decreee 1Q 2021
1 40 Applied for Authorization to Commissione VIA 2Q 2021
4 75
No. of projects MW AS IS MW post RPW Grid Connection Advancement of Authorization
3 92 218 Secured Positive opinion Commissione VIA, positive opinion Fine Arts Ministry (F.A.M.) 2022
2 69 146 Secured Positive opinion Commissione VIA, waiting for F.A.M. opinion 2022
2 21 42 Secured Waiting for Commissione VIA opinion 2022
7 182 407 Secured Projects well advanced with expected COD by 2022
1 43 113 Secured Positive opinion Commissione VIA, F.A.M. negative opinion under recourse 2023+
2 37 67 Applied Positive opinion Commissione VIA, waiting for F.A.M. opinion 2023+
4 92 195 Secured Applied for Authorization to Commissione VIA 2023+
1 18 40 Applied Engineering for Authorization 2023+
8 190 415 Projects with expected COD 2023+
15 372 822 TOTAL
Expected COD
(1)
(1)
Possible 3-6 months delay due to Covid-19 lockdown
19. ERG SUSTAINABILITY GOVERNANCE MODEL
19
• composed by:
- Chairman
- Executive Deputy Chairman
- CEO
- Top management
Our Principles:
- Code of Ethics
- Sustainability policy
- Human rights policy
Sustainability Committee(1)
The CEO is responsible for CSR.
(1) The Sustainability Committee is also appointed as Green Bond Committee
• duties:
- defining the Group’s sustainability guidelines
- approving and evaluating sustainability objectives
- approving the CSR initiatives and DNF contents
20. ERG’S ESG COMMITMENTS 2018-2022 (1/3)
20
In alignment with the 2018-2022 Business Plan and with the UN SDG's, ERG had set up ERG's Sustainability Commitments
for the same period. Some of them are presented below:
23. ERG STRICT CORPORATE GOVERNANCE MODEL
23
Control and
Risk Committee(2)
Nominations and
Remuneration Committee(3)
Strategic
Committee
Shareholders’ Meeting
Board of
Directors
Board of
Statutory Auditors
COMPOSED OF BOARD MEMBERS COMPOSED OF MANAGERS
(1) 1 non-executive and 1 independent referring to the Corporate Governance Code set out by the Italian Stock Exchange
(2) Committee composed of 3 independent Board Members, of which 2 Independent referring to the Corporate Governance Code set out by the Italian Stock Exchange, and 1 Independent
referring only to the Consolidated Finance Act.
(3) Committee composed of 2 independent Board Members referring to the Corporate Governance Code set out by the Italian Stock Exchange, and 1 non-executive Board Member
Sustainability
Committee
Investment
Committee
Human Capital
Committee
Credit
Committee
Risk
Committee
Management
Committee
Running
Management Committee
Business Development
and M&A
Management Committee
Engineering
Development
• A strict financial discipline on investments (organic and M&A) through:
- Strategic Committee (EVP, VP, CEO, CGM&CFO, 2 Board Members(1))
- Investment Committee (CEO, CGM&CFO, Management Team)
• Strong risk management policy:
- Best practice risk policy to ensure the hedging policy of the generation portfolio
• Full Alignment of interests between Top Management and shareholders through:
- Launch in 2018 of a 3 year LTI compensation scheme fully based on shares
24. 24
REMUNERATION POLICY
Short-term Incentive Plans (MBO)
Short-term Incentive Plans
Bonus Cap
Long-term Incentive Plans (LTIP)
Long-term Incentive Plans
Bonus Cap
On/Off Clause
MBO Parameters Weight
Group EBT(1) 30%
Individual Objectives e.g. EBITDA, NFP, OPEX, etc. 70%
LTI Vehicles
Performance Share
LTI Parameters Weight
Cumulated EBITDA 2018-20 (On/Off Clause) 100%
(1) IAS pre-tax profit.
MBOLTIFixed
MBO Vehicles
Cash
EVP’s Pay Mix
Floor Target Cap
CEO’s Pay Mix
Floor Target Cap
General Manager’ Pay Mix
Floor Target Cap
Key Managers’ Pay Mix
Floor Target Cap
25. ENTERPRISE RISK MANAGEMENT
25
Enterprise Risk Management (ERM) is responsible for:
• identifying and assessing the Group’s main risks and defining strategies to mitigate them
• providing management dynamic risk mapping evolution
• providing Management with key information to make risk-informed decisions
• spreading over risk-aware culture across the Organization
Identification
Risk Catalogue
Evaluation
Risk Profiles
Risk Management
Risk Policy and Procedures
ESG risks
• Included in the ERM analysis with particular focus on Climate Change (availability of
resources and black swan), health & safety, retention of employees and key figures.
26. SUSTAINABLE PROCUREMENT
26
• In 2019 ERG launched a “sustainable procurement project” focused on the introduction of new pillars to qualify
and monitor the main vendors on:
- environmental performance
- human rights of the supplier and of his supply chain
- field audit.
• The suppliers assessment will start in June 2020
Identification, monitoring and reduction of risks
Credibility, reputation and competitiveness
Attractiveness towards the market
Sustainability key indicators
Vendors’ engagement
Costs/benefits valuation
27. NEW LEADERSHIP MODEL
27
The Business Plan shows the direction, Skills help people find the way and
Values give us strength, unity and stability
28. A STRONG FOCUS ON HUMAN CAPITAL DEVELOPMENT
28
Continously setting
aspirations and
expectations
MANAGEMENT
FEEDBACK
Nurturing
the leadership
pipeline
SUCCESSION
PLANNING
Empowerment &
Self Accountability
1K€/person/year
High change
Management speed
«Fast-Steering» (2013)
(2016)
Tailored Incentive
Schemes
LTI
IQ
MBO
29. ERG PEOPLE & TRAINING
29
“We are not looking for Talented People
but rather for the Talent hidden in each Person”
ERG Training in a nutshell
Every year all of our people are invited to design their own training path.
A managerial attitude is required from all the employees.
Year
Hours of Training
provided
Days of Training
provided per Person
Participants in the
courses
2017 37,950 6.6 97%
2018 34,356 5.9 92%
2019 46,758 7.8 98%
KPIs in our Training
30. DATA BREAKDOWN ON PERSONNEL
30
EXECUTIVES EMPLOYEES WORKERS GROUP TOTALMIDDLE
MANAGERS
597
157
100
177
36 142
55
242
2
Men
Women
19 1930-51 years
<30 years
51-72 years
38 197 342 177 754Total:
31% 13% 17% 29% 10%
GENOA TERNI SYRACUSE OTHER LOCATIONS IN
ITALY
ABROAD
TOTAL EMPLOYED
754
51
92
131160
35
218
175
2
32 1729
528
31. A DIVERSIFIED GROUP WITH EQUAL OPPORTUNITIES
31
(1) Percentage ratio between the average fixed remuneration for women for each position they belong to and the average fixed remuneration for men for the same position
Women/Men pay gap evolution(1)
• Inclusion is a competence of ERG’s Leadership Model
• Partnership with ValoreD, the greatest Italian association
promoting gender balance and an inclusive culture in
organisations and across the country:
- first assessment of HR processes in D&I effectiveness
- survey to verify ERG’s and Employees’ approach to Inclusion
• Action plan to raise awareness about:
- inclusive communication
- Inclusive leadership
- women’s empowerment
Inclusion
Middle Managers
Executives
Office Workers
2017 2018 2019
32. WELFARE PROJECTS FOR EMPLOYEES
32
• Gym at Genoa office open to all employees
with trainer available on site
• Running and cycling team and other sport
activities
• Medical check up for all the employees
• Specific checks for older employees
• Additional leaves for medical check-ups
• Corporate volunteering
• Family Day
• Plant’s open Day
• Summer camps for employee’s children
• Cooperation with schools and universities
• “Holiday donation”
33. 33
REBLADING: A TECHNOLOGICAL INNOVATION PROJECT
•20 turbines certified
with new blades
and controllers;
•60 blades replaced;
•60 blade bearings replaced;
•full revision of all mechanical
components connected
to the blades;
•5,800 hours/man for blade
and controller assembly;
•400 hours/man for pre-assembly
at the blade production factory;
•0 accidents/injuries.
Reblading in a nutshell Avigliano wind farm reblading: the project in a nutshell
MW
75 75
Production (GWh)
151
Post-RepoweringPre-Repowering
35. ENVIRONMENTAL AND SAFETY CERTIFICATIONS
35
Source: ERG 2019 non-financial information reporting
• Environmental certification covering more than 70% of the installed capacity and about 60% of employees
• Health & Safety certification covering more than 90% of employees
36. REDUCTION OF ENVIRONMENTAL IMPACT OF OPERATIONS
36
• As of 2016, ERG is committed to supply its offices and plants with certified renewable energy
(1) Figures are not on a like-for-like basis: they include all plants in exercise at each year-end
Green Energy for our indirect Consumption(1)
• Until 2019, the significant accumulation of virgin wood (more than
2,600tonn/year) dragged by Tiber river into Lake Corbara was
considered by law as waste.
• In 2019 ERG received the authorization by the Umbria Region to
manage such woody biomass as reusable material for activities such as
energy recovery, wood industry and production of soil improvers.
Wood in Corbara: from waste to resource
2016 2017 20192018
38. GROUP DEBT STRUCTURE
38
ERG S.p.A.(1)
MLT Corporate Loan €682mn
Green Bond €500mn
Other Bond €100mn
ERG Group
MLT Corporate Loan €682mn
MLT PF Loan €833mn
Green Bond €500mn
Other Bond €100mn
Total ERG Group €2,115mn
ERG Hydro Srl
MLT PF €0mn
ERG Power Srl
MLT PF €0mn
Wind SPVs
MLT PF €543mn
ERG Solar Holding Srl
MLT PF €290mn
• Debt structure mainly composed of medium term loans with 93% fixed rate portion
• ERG’s operating assets grant a steady flow of cash upstream to ERG S.p.A.:
- Hydro & Natural Gas assets fully unlevered without any external financing constraints
- Wind & Solar SPVs financed by long term loans with maturities consistent with incentive life and
able to upstream a relevant amount of cash
(1) ERG S.p.A. owns all the operating assets through ERG Power Generation S.p.A., a 100% owned operating subsidiary, free of debt and in cash pooling with ERG S.p.A.
Debt Structure as of 31 Dec 2019
BondCorporate Loan Project Finance
New financial strategy completed: move from Project Financing to corporate/DCM financing
39. #20 Wind Farms
Sun
215 MW Wind
215
MW
140
MW
Solar Plant
39
Green Bond 2019 Highlights
641 ktCO2e
CO2 2019 Savings
526MW
Total Capacity
# 66 Plants
Eligible for Green Projects
Eu500mn
Allocated Proceeds
1,037GWh
Actual 2019 Production
130
MW
40
MW
France
A2019 Production 487.2 GWh
CO2 Savings 271 ktCO2e
#12 Wind Farms
130 MW Wind
Germany 2019 Production 203.2 GWh
CO2 Savings 153 ktCO2e
Wind FarmWind
#2 Wind Farms
40 MW Wind
Poland 2019 Production 203.2 GWh
CO2 Savings 104 ktCO2e
#32 Solar Plants
140 MW Solar
Italy
2019 Production 225.1 GWh
CO2 Savings 114 ktCO2e
ERG Green Bond geographical
ERG Green Bond technology
ERG GREEN BOND 2019: ALLOCATION SUMMARY
40. RATING AGENCY VIEW
40
Key Rating Drivers:
•Manageable Impact from the Pandemic
•Strategy Confirmed
•Preserving Incentivised Business Key
•Broadly Flat EBITDA
•Flexible Free Cash Flow
•Large Secured Greenfield Pipeline
•Increased Repowering
•Additional M&A
•Additional Capacity Incentivizes
•Track Record of Stability
•Solid Liquidity
•Progress in Centralising Funding Structure
Key Considerations:
Long-term Issuer Default Rating (IDR): BBB-
Senior unsecured Rating: BBB-
Outlook on the IDR: Stable
Last update: Affirmed 14 May 2020
•“Fitch Ratings has affirmed Italian renewable generation company ERG S.p.A.'s Long-Term Issuer Default Rating (IDR) and senior unsecured
rating at 'BBB-'. The Outlook on the IDR is Stable.”
•“ERG's 'BBB-' IDR affirmation reflects robust business profile, and a diversified and clean asset base,with quasi-regulated activities averaging
70%-75% of consolidated EBITDA”
•“The business is proving to be resilient in the current tough market environment, due to hedging, predominantly incentivised revenues and the
absence of exposure to supply.”
•“The ratings also take into account ERG's growth ambitions in the context of a clearly stated financial policy of up to 3.0x net debt/EBITDA”
•“Our forecasts lead to an average funds from operations (FFO) adjusted net leverage of 3.5x over 2020-2024, compared with a negative
sensitivity of 3.8x, which we revised upward from 3.5x, due mainly to ERG's business resilience and track record.”
42. 42
FINANCIAL AND OPERATING PERFORMANCE
AS AT 31.12.2019
Business PortfolioFinancial Highlights
€3,264mn
Net Invested Capital
€504mn
Adjusted EBITDA
€205mn
Adjusted EBIT
€1,476mn
Net Financial Debt
€104mn
Adjusted
Group Net Result
754
Employees
1,929MW
Wind
installed capacity
4,000GWh
Wind
energy production
141MW
Solar
installed capacity
226GWh
Solar
energy production
527MW
Hydro
installed capacity
1,229GWh
Hydro
energy production
480MW
Thermo
installed capacity
2,504GWh
Thermo
energy production
Sustainability Highlights
0.14kg
CO2/kWh
Carbon Index
7.8 days
Training per employee
3,086kt
avoided
43. 43
ERG DISTRIBUTION OF ADDED VALUE
2017 2018 2019
€746mn €795mn €744mn
Production costs Remuneration
of Personnel
Remuneration of
Public Administration
Remuneration
of Debt Capital
Remuneration
of Risk Capital
Remuneration for
the Community