Georgia has significant potential to expand its hydropower generation capacity to meet both domestic demand growth and export opportunities. Domestic demand for electricity is projected to increase by 65% by 2020 due to economic growth. Georgia can also export excess hydropower generation as surrounding countries like Turkey and Russia are expected to face power deficits. Georgia's hydropower generation costs are very competitive internationally, around 50% lower than in Turkey. Planned transmission line upgrades will further facilitate power exports. With only 65% of its viable hydropower potential currently exploited, Georgia is well-positioned to capture opportunities from growing regional energy demand.
The document discusses BPRL's strategy of acquiring overseas energy assets to increase energy security for India. Some key points:
- BPRL has acquired assets in countries like Australia, Brazil, East Timor, Indonesia, and Mozambique to supplement domestic reserves.
- Discoveries have been made in Brazil, including heavy oil in the Espirito Santo Basin and light oil in the Sergipe Alagoas Basin.
- Overseas assets provide a natural hedge against volatile oil prices and allow equity oil/gas to be used in India or sold internationally.
- Such acquisitions help build India's energy security by diversifying supply sources and boosting its oil and gas expertise.
Gil 2012 Africa Mega Trends Africa Infrastructure by David WinterSamantha James
African infrastructure development requires $810 billion in investment over the next five years. Currently, $363 billion is being invested in infrastructure projects in Sub-Saharan Africa, with the majority going to transport and energy projects. Successful infrastructure development is needed to support economic growth and achieve development goals, but faces challenges including a lack of funding, political instability, and corruption.
Investment Climate & Opportunities in GeorgiaInvestInGeorgia
Georgia has many opportunities for investment across various sectors of its economy. It offers a business friendly environment with low taxes and a stable banking sector. Key sectors of opportunity include hydroelectric power, tourism, and manufacturing. Georgia has significant untapped hydroelectric potential and is well positioned to export power to neighboring countries facing energy deficits. The tourism industry is growing rapidly as visitor numbers increase yearly. Georgia also has potential for import substitution and export of manufactured goods due to its strategic location and trade agreements.
The document summarizes hydropower potential and investment opportunities in Georgia. It notes that Georgia has vast untapped hydro resources and an easy regulatory framework for hydropower projects. The country aims to utilize its hydro potential to become a regional energy hub and export electricity to neighboring countries. The Ministry of Energy and Natural Resources of Georgia invites investors to develop numerous hydropower plant projects ranging from small to large scale.
Doug Foshee, President and CEO of El Paso Corporation, presented at an annual investor conference on September 20, 2005. He summarized that El Paso has made significant progress in turning the company around, reducing net debt from $20.5 billion to $15.9 billion through asset sales and debt reduction. Production has stabilized at around 900 million cubic feet equivalent per day, and the company is well positioned with natural gas assets. El Paso expects substantial leverage to higher natural gas prices in 2006, with every $1 increase in gas prices above $5 providing around $200 million in additional cash flow.
Doug Foshee, President and CEO of El Paso Corporation, presented at an annual investor conference on September 20, 2005. He summarized that El Paso has made significant progress in turning the company around, reducing net debt from $20.5 billion to $15.9 billion through asset sales and debt reduction. Production has stabilized at around 900 million cubic feet equivalent per day, and the company is well positioned with natural gas assets. El Paso expects substantial leverage to higher natural gas prices in 2006, with every $1 per million BTU increase providing around $200 million in additional cash flow.
John Hopper presented at the Deutsche Bank High Yield Conference on September 28, 2005. The presentation summarized El Paso Corporation's progress in its turnaround, including significant debt reduction, asset sales exceeding targets, and stabilization of production. It highlighted the strength of El Paso's pipeline network and opportunities for growth projects. The production business was discussed as having completed its turnaround with a shift toward more predictable onshore assets. El Paso was positioned for substantial leverage to higher natural gas prices in 2006.
John Hopper presented at the Deutsche Bank High Yield Conference on September 28, 2005. The presentation summarized El Paso Corporation's progress in turning around its business, reducing debt, and positioning itself for future growth. Key points included stabilizing production, focusing more investment onshore, improving the Texas Gulf Coast business, and having significant leverage to rising natural gas prices in 2006. Cost reductions were also continuing across the company. The presentation demonstrated that El Paso had made rapid progress in its turnaround.
The document discusses BPRL's strategy of acquiring overseas energy assets to increase energy security for India. Some key points:
- BPRL has acquired assets in countries like Australia, Brazil, East Timor, Indonesia, and Mozambique to supplement domestic reserves.
- Discoveries have been made in Brazil, including heavy oil in the Espirito Santo Basin and light oil in the Sergipe Alagoas Basin.
- Overseas assets provide a natural hedge against volatile oil prices and allow equity oil/gas to be used in India or sold internationally.
- Such acquisitions help build India's energy security by diversifying supply sources and boosting its oil and gas expertise.
Gil 2012 Africa Mega Trends Africa Infrastructure by David WinterSamantha James
African infrastructure development requires $810 billion in investment over the next five years. Currently, $363 billion is being invested in infrastructure projects in Sub-Saharan Africa, with the majority going to transport and energy projects. Successful infrastructure development is needed to support economic growth and achieve development goals, but faces challenges including a lack of funding, political instability, and corruption.
Investment Climate & Opportunities in GeorgiaInvestInGeorgia
Georgia has many opportunities for investment across various sectors of its economy. It offers a business friendly environment with low taxes and a stable banking sector. Key sectors of opportunity include hydroelectric power, tourism, and manufacturing. Georgia has significant untapped hydroelectric potential and is well positioned to export power to neighboring countries facing energy deficits. The tourism industry is growing rapidly as visitor numbers increase yearly. Georgia also has potential for import substitution and export of manufactured goods due to its strategic location and trade agreements.
The document summarizes hydropower potential and investment opportunities in Georgia. It notes that Georgia has vast untapped hydro resources and an easy regulatory framework for hydropower projects. The country aims to utilize its hydro potential to become a regional energy hub and export electricity to neighboring countries. The Ministry of Energy and Natural Resources of Georgia invites investors to develop numerous hydropower plant projects ranging from small to large scale.
Doug Foshee, President and CEO of El Paso Corporation, presented at an annual investor conference on September 20, 2005. He summarized that El Paso has made significant progress in turning the company around, reducing net debt from $20.5 billion to $15.9 billion through asset sales and debt reduction. Production has stabilized at around 900 million cubic feet equivalent per day, and the company is well positioned with natural gas assets. El Paso expects substantial leverage to higher natural gas prices in 2006, with every $1 increase in gas prices above $5 providing around $200 million in additional cash flow.
Doug Foshee, President and CEO of El Paso Corporation, presented at an annual investor conference on September 20, 2005. He summarized that El Paso has made significant progress in turning the company around, reducing net debt from $20.5 billion to $15.9 billion through asset sales and debt reduction. Production has stabilized at around 900 million cubic feet equivalent per day, and the company is well positioned with natural gas assets. El Paso expects substantial leverage to higher natural gas prices in 2006, with every $1 per million BTU increase providing around $200 million in additional cash flow.
John Hopper presented at the Deutsche Bank High Yield Conference on September 28, 2005. The presentation summarized El Paso Corporation's progress in its turnaround, including significant debt reduction, asset sales exceeding targets, and stabilization of production. It highlighted the strength of El Paso's pipeline network and opportunities for growth projects. The production business was discussed as having completed its turnaround with a shift toward more predictable onshore assets. El Paso was positioned for substantial leverage to higher natural gas prices in 2006.
John Hopper presented at the Deutsche Bank High Yield Conference on September 28, 2005. The presentation summarized El Paso Corporation's progress in turning around its business, reducing debt, and positioning itself for future growth. Key points included stabilizing production, focusing more investment onshore, improving the Texas Gulf Coast business, and having significant leverage to rising natural gas prices in 2006. Cost reductions were also continuing across the company. The presentation demonstrated that El Paso had made rapid progress in its turnaround.
Addressing policy and legal framework by Selcuk Tanatarrandaslh
This document discusses addressing policy and legal frameworks to support climate change mitigation in the Middle East and North Africa region. It outlines IFC's climate change agenda, including investing over $1 billion in 2010 in renewable energy and energy efficiency projects. It also discusses the climate change challenges facing MENA countries, such as high energy intensity and frequent power outages. Key policy barriers to clean energy investment are identified, including fossil fuel subsidies, lack of legal frameworks, and market barriers like limited access to financing. The document argues for reforms to incentivize resource efficiency and demonstrate the commercial viability of renewable energy in energy-scarce MENA countries with declared policies supporting low-carbon growth. Achieving this will require addressing numerous legal,
Noble Energy is developing several natural gas fields in the Eastern Mediterranean, including Tamar and Leviathan offshore Israel. Tamar is on schedule to start production in 2013 and will help meet growing Israeli demand for natural gas. Leviathan is a larger discovery that Noble Energy is progressing towards development, with plans for an initial phase supplying domestic markets in 2016 and later export options. Noble Energy has selected Woodside as a strategic partner for Leviathan due to their LNG expertise and access to markets. Cyprus-A is another significant discovery that could enable Cyprus to become a gas exporter. Noble Energy is evaluating multiple export options for the Eastern Mediterranean gas, including onshore LNG plants in Israel, Cyprus or Jordan.
Noble Energy is developing several natural gas fields in the Eastern Mediterranean, including Tamar and Leviathan offshore Israel. Tamar is on schedule to start production in 2013 and will help meet growing Israeli demand for natural gas. Leviathan is a larger discovery that Noble Energy is progressing towards development, with plans for an initial phase supplying domestic markets in 2016 and later export options. Noble Energy has selected Woodside as a strategic partner for Leviathan due to their LNG expertise and access to markets. Cyprus-A is another significant discovery that could enable Cyprus to become a gas exporter. Noble Energy is evaluating multiple export options for the Eastern Mediterranean gas, including onshore LNG plants in Israel, Cyprus or Jordan.
Doe 1 dollar per watt roadmap dpw lushetskychandyGhosh
The document summarizes a presentation by John Lushetsky from the Department of Energy's Solar Energy Technologies Program on reaching the goal of $1 per watt electricity from solar. It discusses progress in reducing costs for both crystalline silicon and cadmium telluride solar modules. Achieving costs below $0.50 per watt will require innovations across the entire solar photovoltaic supply chain, including in materials, manufacturing, and balance of system costs like installation. Even with major cost reductions, solar energy costs are projected to remain above average wholesale electricity prices in the United States without policy support.
xcel energy 9_11EuropeanRoadShowPresentationSeptember2007finance26
This document provides an overview of Xcel Energy's business and financial performance from the perspective of the Vice President and CFO. It summarizes Xcel's operating regions, recent accomplishments, capital investment opportunities, environmental leadership, and financial outlook. The key messages are that Xcel delivers low-risk returns through regulated utilities, has a strong pipeline of investment opportunities, and is positioned to continue delivering earnings and dividend growth through 2011 by executing on its capital plans.
xcel energy 9_11EuropeanRoadShowPresentationSeptember2007finance26
This document provides an overview of Xcel Energy's business and financial performance from the perspective of the Vice President and CFO. It summarizes Xcel's operating regions, recent accomplishments, capital investment opportunities, environmental leadership, and financial outlook. The key messages are that Xcel delivers low-risk returns through regulated utilities, has a strong pipeline of investment opportunities, and is positioned to continue delivering earnings and dividend growth through 2011 by executing on its capital plans.
Mark Leland, CFO of El Paso, provides an update on August 11, 2005. He summarizes the company's progress in its turnaround, including reducing debt from $20.5 billion to $15.9 billion through asset sales of $4.3 billion. Production has stabilized with average daily production expected to be 860-900 MMcfe/d. The company continues focusing on its two core businesses of pipelines and production. Significant growth projects are planned for the pipeline portfolio.
This document provides key financial metrics and valuation ratios for a company. It includes the 52 week price range, trading volume, dividend yield, outstanding shares, price to earnings ratio, price to book value, and return on equity. The valuation ratios can be used to analyze the company's performance and current valuation.
- El Paso Corporation has made significant progress in its turnaround, reducing debt from $20.5 billion to $15.9 billion and selling $4.3 billion in assets to focus on its pipeline and production businesses.
- The company's pipeline group owns major interstate pipelines and has a portfolio of growth projects to expand access to new natural gas supplies and growing markets. Its production business has stabilized production and increased reserves through acquisitions and improved drilling.
- Moving forward, El Paso aims to further reduce debt, generate free cash flow, complete the turnaround of production, and achieve additional cost reductions as it builds on its recent successes.
Xylem provides concise financial projections and targets for 2015 and beyond at a capital markets conference:
- Projected 2015 revenues of $4.5-5 billion and operating margin of 14.5-15.5%
- Target of 8-17% EPS growth in 2012 and long-term targeted annual revenue growth of 4-6% through organic and acquisition growth
- Goals of emerging markets contributing over 20% of revenues and continued operational improvements expanding margins 50-75 basis points annually
- Financial discipline aimed at nearly 100% free cash flow conversion to fund organic and acquisition growth and return value to shareholders
China wind power fy2010 agm presentationTMX Equicom
This presentation discusses China Wind Power International Corp., a company developing wind farms in Heilongjiang Province, China. It summarizes that China faces growing energy demand and a commitment to developing wind power. The company has exclusive rights to develop wind projects in Du Mon County and its current portfolio includes 49MW in operation, 49.5MW under construction, and plans for additional 448.5MW projects. Project economics show targeted equity IRRs of 10-12% over 20 years. Recent progress includes generation increases, financing activities, and timelines for further phases through 2013.
Qatar Electricity and Water Company (QEWC) reported strong financial results for 2010, with total revenue reaching QAR 3.4 billion, 29% above 2009. EBITDA increased 33% to QAR 1.9 billion. QEWC saw major developments in 2010, including new power plants coming online. The company remains well positioned, with long-term agreements to provide electricity and water. QEWC announced a higher-than-expected dividend of QAR 6 per share for 2010, translating to a 4.6% dividend yield. For 2011, revenue is forecast to increase 26% to QAR 4.3 billion on new capacity additions, while EBITDA is expected to grow 15% to Q
This document analyzes the investment opportunity in renewable wave energy technology company Ocean Power Technologies. It finds that while OPT has promising proprietary technology, established clients, and long-term growth potential, it also has significant risks in the short term due to lack of revenue matching expenses and dependence on continued funding. Overall, it is best suited for long-term, not short-term, investors.
This document provides an overview of DnB NOR Bank's business and financial performance. Some key points:
- DnB NOR is Norway's largest financial institution with approximately 30-35% market share in retail and corporate lending.
- 62% of its loan exposures are directly related to Norwegian demand. Loan losses are expected to be NOK 8-10 billion in 2009.
- First quarter results showed strong income growth despite write-downs from weak international economic conditions.
- The bank is focusing on strengthening its capitalization organically through moderate lending growth and applying its IRB approach to major portfolios.
This document provides an overview of Triventus Consulting, a European wind power consulting firm. It discusses trends in the financing of wind power projects, particularly the increasing difficulty of obtaining financing in Europe. Specific challenges for developing wind projects in Nordic countries like Norway and Sweden are also examined, such as cold climates reducing production and increasing costs. The document emphasizes that only top-quality projects with strong cash flows, credible management, and a long-term commitment will be able to secure necessary financing.
Dynegy's Midwest portfolio is well-positioned with over 5,500 MW of baseload coal and efficient natural gas-fired plants. Coal plants generally set the marginal price of power over 80% of the time in the Midwest ISO market due to low natural gas prices and reduced demand. Dynegy's Midwest facilities benefit from low-cost Powder River Basin coal and rail contracts.
India is projected to be a 12.8GW solar market until 2016 due to supportive policies like the National Solar Mission and renewable purchase obligations. Solar capacity additions are expected to reach 4.5GW in 2012-2016 driven by feed-in tariffs and the commercial viability of projects without subsidies. India is seen as one of the most attractive global markets for solar due to its strong policy targets and the ability of solar power to address the country's large power deficit at falling costs.
Global Water Investment Conference June 20, 2012BSTRINGE
The name Xylem is derived from classical Greek and is the tissue that transports water in plants, highlighting the engineering efficiency of our water-centric business by linking it with the best water transportation of all -- that which occurs in nature
The document discusses plans to redevelop the spa town of Tskaltubo, Georgia. It notes that Tskaltubo has seen significant year-over-year growth in tourists and is located on a key tourist route near the city of Kutaisi. The town has valuable thermal waters and infrastructure but would benefit from renovating its resort facilities to attract more international, regional, and local visitors. The Georgian government has invested in upgrading Tskaltubo's urban infrastructure as part of efforts to redevelop the town into a modern health and wellness destination.
The document discusses Georgia's service sector and its opportunities for investment. Some key points:
- Services account for 43% of Georgia's GDP and the sector has received major foreign direct investment inflows of $500 million in 2011, with financial services being a leading sub-sector.
- Retail/wholesale trade represents 40% of service sector GDP and has seen strong FDI growth. Healthcare/social work FDI inflows have also grown substantially in recent years.
- Georgia presents opportunities to capitalize on investment in financial services/headquarters and developing as a regional retail hub.
Addressing policy and legal framework by Selcuk Tanatarrandaslh
This document discusses addressing policy and legal frameworks to support climate change mitigation in the Middle East and North Africa region. It outlines IFC's climate change agenda, including investing over $1 billion in 2010 in renewable energy and energy efficiency projects. It also discusses the climate change challenges facing MENA countries, such as high energy intensity and frequent power outages. Key policy barriers to clean energy investment are identified, including fossil fuel subsidies, lack of legal frameworks, and market barriers like limited access to financing. The document argues for reforms to incentivize resource efficiency and demonstrate the commercial viability of renewable energy in energy-scarce MENA countries with declared policies supporting low-carbon growth. Achieving this will require addressing numerous legal,
Noble Energy is developing several natural gas fields in the Eastern Mediterranean, including Tamar and Leviathan offshore Israel. Tamar is on schedule to start production in 2013 and will help meet growing Israeli demand for natural gas. Leviathan is a larger discovery that Noble Energy is progressing towards development, with plans for an initial phase supplying domestic markets in 2016 and later export options. Noble Energy has selected Woodside as a strategic partner for Leviathan due to their LNG expertise and access to markets. Cyprus-A is another significant discovery that could enable Cyprus to become a gas exporter. Noble Energy is evaluating multiple export options for the Eastern Mediterranean gas, including onshore LNG plants in Israel, Cyprus or Jordan.
Noble Energy is developing several natural gas fields in the Eastern Mediterranean, including Tamar and Leviathan offshore Israel. Tamar is on schedule to start production in 2013 and will help meet growing Israeli demand for natural gas. Leviathan is a larger discovery that Noble Energy is progressing towards development, with plans for an initial phase supplying domestic markets in 2016 and later export options. Noble Energy has selected Woodside as a strategic partner for Leviathan due to their LNG expertise and access to markets. Cyprus-A is another significant discovery that could enable Cyprus to become a gas exporter. Noble Energy is evaluating multiple export options for the Eastern Mediterranean gas, including onshore LNG plants in Israel, Cyprus or Jordan.
Doe 1 dollar per watt roadmap dpw lushetskychandyGhosh
The document summarizes a presentation by John Lushetsky from the Department of Energy's Solar Energy Technologies Program on reaching the goal of $1 per watt electricity from solar. It discusses progress in reducing costs for both crystalline silicon and cadmium telluride solar modules. Achieving costs below $0.50 per watt will require innovations across the entire solar photovoltaic supply chain, including in materials, manufacturing, and balance of system costs like installation. Even with major cost reductions, solar energy costs are projected to remain above average wholesale electricity prices in the United States without policy support.
xcel energy 9_11EuropeanRoadShowPresentationSeptember2007finance26
This document provides an overview of Xcel Energy's business and financial performance from the perspective of the Vice President and CFO. It summarizes Xcel's operating regions, recent accomplishments, capital investment opportunities, environmental leadership, and financial outlook. The key messages are that Xcel delivers low-risk returns through regulated utilities, has a strong pipeline of investment opportunities, and is positioned to continue delivering earnings and dividend growth through 2011 by executing on its capital plans.
xcel energy 9_11EuropeanRoadShowPresentationSeptember2007finance26
This document provides an overview of Xcel Energy's business and financial performance from the perspective of the Vice President and CFO. It summarizes Xcel's operating regions, recent accomplishments, capital investment opportunities, environmental leadership, and financial outlook. The key messages are that Xcel delivers low-risk returns through regulated utilities, has a strong pipeline of investment opportunities, and is positioned to continue delivering earnings and dividend growth through 2011 by executing on its capital plans.
Mark Leland, CFO of El Paso, provides an update on August 11, 2005. He summarizes the company's progress in its turnaround, including reducing debt from $20.5 billion to $15.9 billion through asset sales of $4.3 billion. Production has stabilized with average daily production expected to be 860-900 MMcfe/d. The company continues focusing on its two core businesses of pipelines and production. Significant growth projects are planned for the pipeline portfolio.
This document provides key financial metrics and valuation ratios for a company. It includes the 52 week price range, trading volume, dividend yield, outstanding shares, price to earnings ratio, price to book value, and return on equity. The valuation ratios can be used to analyze the company's performance and current valuation.
- El Paso Corporation has made significant progress in its turnaround, reducing debt from $20.5 billion to $15.9 billion and selling $4.3 billion in assets to focus on its pipeline and production businesses.
- The company's pipeline group owns major interstate pipelines and has a portfolio of growth projects to expand access to new natural gas supplies and growing markets. Its production business has stabilized production and increased reserves through acquisitions and improved drilling.
- Moving forward, El Paso aims to further reduce debt, generate free cash flow, complete the turnaround of production, and achieve additional cost reductions as it builds on its recent successes.
Xylem provides concise financial projections and targets for 2015 and beyond at a capital markets conference:
- Projected 2015 revenues of $4.5-5 billion and operating margin of 14.5-15.5%
- Target of 8-17% EPS growth in 2012 and long-term targeted annual revenue growth of 4-6% through organic and acquisition growth
- Goals of emerging markets contributing over 20% of revenues and continued operational improvements expanding margins 50-75 basis points annually
- Financial discipline aimed at nearly 100% free cash flow conversion to fund organic and acquisition growth and return value to shareholders
China wind power fy2010 agm presentationTMX Equicom
This presentation discusses China Wind Power International Corp., a company developing wind farms in Heilongjiang Province, China. It summarizes that China faces growing energy demand and a commitment to developing wind power. The company has exclusive rights to develop wind projects in Du Mon County and its current portfolio includes 49MW in operation, 49.5MW under construction, and plans for additional 448.5MW projects. Project economics show targeted equity IRRs of 10-12% over 20 years. Recent progress includes generation increases, financing activities, and timelines for further phases through 2013.
Qatar Electricity and Water Company (QEWC) reported strong financial results for 2010, with total revenue reaching QAR 3.4 billion, 29% above 2009. EBITDA increased 33% to QAR 1.9 billion. QEWC saw major developments in 2010, including new power plants coming online. The company remains well positioned, with long-term agreements to provide electricity and water. QEWC announced a higher-than-expected dividend of QAR 6 per share for 2010, translating to a 4.6% dividend yield. For 2011, revenue is forecast to increase 26% to QAR 4.3 billion on new capacity additions, while EBITDA is expected to grow 15% to Q
This document analyzes the investment opportunity in renewable wave energy technology company Ocean Power Technologies. It finds that while OPT has promising proprietary technology, established clients, and long-term growth potential, it also has significant risks in the short term due to lack of revenue matching expenses and dependence on continued funding. Overall, it is best suited for long-term, not short-term, investors.
This document provides an overview of DnB NOR Bank's business and financial performance. Some key points:
- DnB NOR is Norway's largest financial institution with approximately 30-35% market share in retail and corporate lending.
- 62% of its loan exposures are directly related to Norwegian demand. Loan losses are expected to be NOK 8-10 billion in 2009.
- First quarter results showed strong income growth despite write-downs from weak international economic conditions.
- The bank is focusing on strengthening its capitalization organically through moderate lending growth and applying its IRB approach to major portfolios.
This document provides an overview of Triventus Consulting, a European wind power consulting firm. It discusses trends in the financing of wind power projects, particularly the increasing difficulty of obtaining financing in Europe. Specific challenges for developing wind projects in Nordic countries like Norway and Sweden are also examined, such as cold climates reducing production and increasing costs. The document emphasizes that only top-quality projects with strong cash flows, credible management, and a long-term commitment will be able to secure necessary financing.
Dynegy's Midwest portfolio is well-positioned with over 5,500 MW of baseload coal and efficient natural gas-fired plants. Coal plants generally set the marginal price of power over 80% of the time in the Midwest ISO market due to low natural gas prices and reduced demand. Dynegy's Midwest facilities benefit from low-cost Powder River Basin coal and rail contracts.
India is projected to be a 12.8GW solar market until 2016 due to supportive policies like the National Solar Mission and renewable purchase obligations. Solar capacity additions are expected to reach 4.5GW in 2012-2016 driven by feed-in tariffs and the commercial viability of projects without subsidies. India is seen as one of the most attractive global markets for solar due to its strong policy targets and the ability of solar power to address the country's large power deficit at falling costs.
Global Water Investment Conference June 20, 2012BSTRINGE
The name Xylem is derived from classical Greek and is the tissue that transports water in plants, highlighting the engineering efficiency of our water-centric business by linking it with the best water transportation of all -- that which occurs in nature
The document discusses plans to redevelop the spa town of Tskaltubo, Georgia. It notes that Tskaltubo has seen significant year-over-year growth in tourists and is located on a key tourist route near the city of Kutaisi. The town has valuable thermal waters and infrastructure but would benefit from renovating its resort facilities to attract more international, regional, and local visitors. The Georgian government has invested in upgrading Tskaltubo's urban infrastructure as part of efforts to redevelop the town into a modern health and wellness destination.
The document discusses Georgia's service sector and its opportunities for investment. Some key points:
- Services account for 43% of Georgia's GDP and the sector has received major foreign direct investment inflows of $500 million in 2011, with financial services being a leading sub-sector.
- Retail/wholesale trade represents 40% of service sector GDP and has seen strong FDI growth. Healthcare/social work FDI inflows have also grown substantially in recent years.
- Georgia presents opportunities to capitalize on investment in financial services/headquarters and developing as a regional retail hub.
Manufacturing accounts for 14% of Georgia's GDP and 5% of employment. The largest industries are food and beverages at 3% of GDP and metal products at 2.5% of GDP. Georgia has opportunities in manufacturing due to competitive costs, strategic location, and existing raw materials. There are opportunities to substitute imports in food processing, construction materials, and household goods. Two free industrial zones provide tax exemptions to attract large industrial investments such as aluminum and steel production.
The document discusses Georgia's potential as a regional logistics corridor between Europe and Central Asia. It notes that Georgia currently handles around 80% of cargo and 60% of freight rail transit through the region. The country is strategically located but its transport infrastructure requires upgrades, including its ports, railways, roads and airports, to fully capitalize on opportunities. Developing modern infrastructure could leverage Georgia's position as an entry point to the Caucasus and Central Asia, significantly boosting its economy and regional influence.
(1) Agriculture accounts for 9% of Georgia's GDP and 53% of employment, though the average farm size is only 1.22 hectares. (2) Georgia has strengths in wine, nuts, and fruits which make up over 60% of agricultural exports. (3) There are opportunities to increase productivity and substitute imports of meats, dairy, and vegetables while also growing exports of traditional strong sectors like wine and nuts.
Georgia has experienced significant growth in its tourism sector in recent years. International tourist arrivals have increased by around 40% annually. There are opportunities to invest in various tourism sub-sectors such as sun and beach resorts, ski resorts, spa resorts, integrated casino developments, and tourism zones. Specific opportunities mentioned include developing new hotels and facilities in Anaklia, Kobuleti, Mestia, Gudauri, Goderdzi, and Tskhaltubo. The government is supporting tourism development through infrastructure investments and fiscal incentives for private investors.
1. www.investingeorgia.org 1
HYDRO POWER HUB
HYD RO POW ER HU B
Georgian National Investment Agency 2013
2. www.investingeorgia.org 3
OVERVIEW OF GEORGIA’S (HYDRO-) POWER SECTOR
• Domestic: Demand growth and increasing share of renewables requires an
extension of hydropower generation by around 65% until 2020
VEST
• Export: Georgia is surrounded by countries with a projected structural
power deficit (e.g. Turkey, Russia South) or expensive power generation,
opening up attractive export opportunities
Strong demand growth prospects
• Power generation accounts for 3% of GDP and ~ 1% of employment but is
of high strategic importance to Georgia
• ~ 10% of power production are exported, but Georgia still needs to import
power during winter
ORGIA
Importance of the sector low in
terms of GDP and employment
• Georgia boosts significant and economically viable HPP potential – already
today 75% of power generated via HPP (2,700 MW) – 25% via thermal
(mainly gas)
• All new HPPs operate in a liberalized market
• Cost of hydropower generation is very competitive in the region
Power sector with strong focus
on cost competitive HPP
• FDI inflows amounted to USD 200 million in 2011 and are growing
• 65% of economically viable potential not yet exploited
• Projects of up to USD 750 million have been concessioned to investors
from e.g. India, Turkey, Czech Republic and other counties.
Large projects have been • Pipeline well filled with several large scale projects (100-702 MW) as well
placed and pipeline is filled as 70+ smaller projects
3. ALL CONDITIONS FOR CAPTURING OPPORTUNITIES FROM
GROWING DOMESTIC DEMAND AND EXPORTS ARE IN PLACE
Opportunities Conditions for investment Situation in Georgia Evaluation
• Electricity demand growing in
IN
HPPs for Domestic demand line with high GDP growth
Mostly covered
domestic growth and • Share of hydropower to grow in by commissioned
supply offtake guarantee total generation capacity HPP developments
• Domestic offtake guarantees
Excess demand • Turkey and Russia projected to
have excess demand
in neighboring
• Armenia/Azerbaijan still with
countries generation overhang
IN GEO
• Incremental generation cost
Competitive among the lowest in the region,
generation cost ~50% lower than target market
Turkey Investment
HPPs for opportunity
export for new HPP
developments
• 160 MW currently available (to TK)
Transmission • Upgrade of infrastructure by 2014
capacity to increase capacity by 5-10
• Transmission guarantee granted
• Agreement with Turkey under
negotiation
Offtake guarantee
• Export buyer SPV being
discussed
www.investingeorgia.org 4
4. www.investingeorgia.org 5
DOMESTIC DEMAND GROWTH REQUIRES AN EXTENSION
OF HYDROPOWER GENERATION BY AROUND 65%
DOMESTIC DEMAND AND SUPPLY PROJECTIONS
VEST
TWh, 2020 15.7 6.2
High
2.1 2.1 scenario1
+65%
Low
10.9 4.1 scenario1
1.4
ORGIA
RGIA
13.6
Current i
installed
ll d Decreasing
i Projected
j d Demand d
capacity share of demand overhang to
thermal 2020 be covered
• Georgia’s demand for electricity is increasing in line with expected GDP growth, requiring more HPP
generation capacity
• Commissioned HPP developments likely to saturate the demand growth
1
High scenario assumes 6% CAGR of demand (in line with GDP), low scenario assumes 6% till 2015, thereafter 3%
5. ATTRACTIVE EXPORT POTENTIAL IN THE REGION,
PARTICULARLY IN TURKEY
TURKISH GENERATION DEFICIT IS EVOLVING TURKISH CONSUMPTION PROFILE PERFECTLY
IN
OVER THE COMING YEARS MATCHES GEORGIA’S GENERATION
Energy deficit High scenario Generation Georgia
forecast
TWh Low scenario Consumption Turkey
Increased consumption
due to air conditioning
Surplus due to increased
river flows
GENERATION COST, USD CT
Generation cost
USD Ct
IN GEO
GEORGIA’S GENERATION COSTS ARE HIGHLY COMPETITIVE
Current generation tariff
New generation cost
TRANSMISSION CAPACITY IS CURRENTLY BEING UPGRADED
Transmission capacity
MW
850
880
160
1,480
850
2011
2016
1,560 250
160
www.investingeorgia.org 6
6. www.investingeorgia.org 7
GEORGIA SURROUNDED BY COUNTRIES WITH A STRUCTURAL
POWER DEFICIT OR EXPENSIVE POWER GENERATION
2020
• Turkey expected
VEST
to have deficit
of up to 80-120
Ukraine TWh by 2020,
with seasonality
of its demand
South Russia matching
Romania
Georgia’s supply
Bulgaria Uzbekistan • Russia’s
Georgia Southern
districts will also
Azerbaijan
ORGIA
RGIA
experience a
Greece Turkey Turkmenistan
Armenia structural deficit
of up to 40 TWh
by 20201
Lebanon • In other markets,
Iraq
Georgia’s
Iran
Israel hydropower
is very cost-
competitive
compared to
local tariffs2
Structural deficit by 2020 No deficit, but current tariffs > Georgia’s generation cost
Ad hoc deficits projected No deficit, but subsidized tariffs
1
Assuming current consumption and supply pattern
2
This does not even include countries with heavily subsidized electricity generation (e.g. Azerbaijan, Kazakhstan)
7. SETTING UP A REGIONAL EXPORT CONSOLIDATION SPV HELPS
TO CONSOLIDATE EXPORT SUPPLY AND FACILITATE PPAs
ILLUSTRATIVE SETUP FOR EXPORT CONSOLIDATION EVALUATION
IN
SPV represents
single interface for
power producers
PPA
Utilities Increased
efficiency in
negotiations
PPA Electricity delivery
Export with utilities and
Power transmission
consolidation
IN GEO
producers Electricity SPV Transmission agreement
providers
delivery
PPAs to power
Funding and Proceeds
Transmission providers with
guarantee Trans-
provider competitive bid
mission
fees could generate
earnings potential
for SPV
Several counter-
Ultimate parties, depending
shareholder on offtake countries
Market risk lies
with SPV if foreign
COULD BE utilities do not
sign PPAs
• Government of Georgia (contract specific
guarantee/ stake)
• Private investor
www.investingeorgia.org 8
8. www.investingeorgia.org 9
NUMEROUS INVESTMENT OPPORTUNITIES IN HPP IN GEORGIA
PROJECTS DESCRIPTION
VEST
• 7 large-scale HPP (100-450 MW) developments
Largescale – Clearly identified list of projects open for investment
– Packaged with attractive offtake and export opportunities
HPP
• Domestic offtake agreement (subject to negotiations)
developments
• Export with transmission guarantee
• Buildup of a regional trading company with dual mission
ORGIA
Regional – Consolidate export PPAs and transmission agreements
with key offtake countries (e.g. Turkey)
consolidation – Eventually develop modern trading/power pool
and trading SPV infrastructure and regulation
• Bundling of several of the ~ 70 existing small-/medium-
scale projects (< 100 MW) into an investment fund
Renewable
– Facilitates financial investments into smaller HPPs
energy project – Overcomes critical hurdles of small-scale HPP financing
finance fund to international investors
9. OUR COMMITMENTS ALONG 4 CRITICAL THRUSTS
Subject to negotiation
IN
Pre-packaged 1 Pipeline of 7 large HPP projects
HPP investment
projects 2 Full package of agreements provided by central government counterparty
3 Increasing domestic demand (+65% in 10 years)
Guaranteed
offtake in local
markets 4 Domestic offtake PPAs offered (part of the year or year-round)
Attractive export
potential (incl.
guaranteed
transmission)
Attractive
IN GEO
5
6
7
Regional shortfalls and competitive generation costs
Cross-border trading agreement negotiated with Turkey
Transmission infrastructure to in place/being upgraded, incl. take or pay
transmission guarantees
investment 8 Business friendly environment with favorable and simple tax system
environment
www.investingeorgia.org 10
10. www.investingeorgia.org 11
THE GOVERNMENT OF GEORGIA FACILITATES YOUR INVESTMENT
AND NAVIGATES THE NETWORK OF LOCAL PARTNERS
Project entry/ Technical and Transmission Distribution
VEST
negotiations licensing and offtake
• Georgian National • Georgian National • Georgian State • Electricity System
Investment Agency Energy and Water Electrosystem Commercial Operator
O MEST I PART NE RS
D OMESTI C PARTNERS
ORGIA
Supply Regulatory
Commission
• Ministry of Energy and • Commercial distributors
Natural Resources (e.g., Telasi, EnergoPro)
• Electricity System • Eligible direct
Commercial Operator consumers (Using more
than 7 GW of energy)
• Export offtakers
CONTACT NAVIGATOR
• Industry-specific expertise through dedicated investment advisors
• Experience in dealing with foreign investors
• Links to all administrative and business partners
11. HYDROPOWER PIPELINE BOOSTS SEVERAL NEW MEGAPROJECTS ABOVE
100 MW CAPACITY THAT ARE CURRENTLY OPEN FOR INVESTMENT
IN
N
Project Capacity Forecast Invest. Ready to invest?
volume
USD millions
• Namakhvani Cascade 450 MW 926
• Khaishi HPP 400 MW 620
• Oni Cascade 270 MW 599
IN GEO
EO
• Nenskra HPP 210 MW 491
• Tobari HPP 200 MW 310
• Fari HPP 180 MW 297
• Lentekhi HPP 120 MW 189
• Hydropower pipeline also boosts ~70 small/medium projects (<100 MW capacity)
that are currently open for investment
www.investingeorgia.org 12
13. NAMAKHVANI CASCADE
SUMMARY OF COSTS
IN
Cost item Cost (USD)
Pre-design works 1,829,676
Design works 6,526,916
Pre-construction & environmental monitoring works 24,167,097
Preparation of construction site and facilities 197,852,902
Construction of HPPs 572,175,289
Indirect investment costs 2,651,347
Unexpected costs (contingencies) – 15% 120,780,484
IN GEO
TOTAL INVESTMENT COST 925,983,711
TVISHI HPP
NAMAKHVANI HPP
NAMAKHVANI
ZHONETI HPP
Note: All the calculations are based on preliminary assumptions. Therefore any clarifications will cause appropriate changes in the final results.
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14. www.investingeorgia.org 15
NAMAKHVANI CASCADE
PROJECT DATA
VEST
Tvishi HPP Namakhvani HPP Joneti HPP
Dam Height 56.5 (m) 111 (m) 31 (m)
Dam Volume 13.1(mln.m3) 156(mln.m3) 12.5(mln.m3)
Res. area at max. level 0.97 km2 4.35 km2 1.25 km2
Reservoir volume 13.5% 156.0 mln m3 12.5 mio m3
Reservoir useful volume 121.2 Million USD 52.0 mio m3 6.0 mio m3
Maximal water head 12% 83.0 m 32.0 m
ORGIA
NAMAKHVANI HPP’s Cascade
15. KHAISHI HPP
BASIC PARAMETERS
Total Installed Capacity 400 MW
IN
Average Annual Generation 1470 GW/h
IN GEO
ASSUMPTIONS AND FINANCIAL INDICATORS
Construction Cost 620 Million USD
Construction Period 5 Years
Domestic Tariff 4.8 USc/KWh
Export Tariff 8 USc/KWh
Project IRR 11%
Project NPV 126.4 Million USD
Equity IRR 15%
Equity NPV 160.1 Million USD
Payback Period 15 years
Number of Observations 30 years
Note: All the calculations are based on preliminary assumptions. Therefore any clarifications will cause appropriate changes in the final results.
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16. www.investingeorgia.org 17
KHAISHI HPP
PROJECT DATA
Dam Height 204(m)
VEST
Dam Volume 445(mln.m3)
Normal Headwater Level 910 (m)
Tailwater Downstream Pool 700(m)
Project Discharge 270 (m3/sec)
TOPOGRAPHIC MAP
ORGIA
17. ONI CASCADE
BASIC PARAMETERS
Total Installed Capacity 270 MW
Average Annual Generation 1255 GW/h
IN
ASSUMPTIONS AND FINANCIAL INDICATORS
Total Project Cost
Net Present Value (Million USD)
IN GEO
E
598.9 Million USD
Full Project
270.0
Project
Corp. Tax
201.8
Equity
135.5
Internal Rate of Return 13.31% 12.57% 13.17%
Benefit / Cost ratio 1.39 1.29 1.79
Balance year 13 15 18
Note: All the calculations are based on preliminary assumptions. Therefore any clarifications will cause appropriate changes in the final results.
www.investingeorgia.org 18
19. NENSKRA HPP
BASIC PARAMETERS
Total Installed Capacity 210 MW
IN
Average Annual Generation 1,205 GW/h
IN GEO
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20. www.investingeorgia.org 21
NENSKRA HPP
INVESTMENT COSTS AND ASSUMPTIONS GEORGIAN GOVERNMENT OFFER
• 20 years Stability Period
VEST
Total Investment Cost 491 Million USD
Plant Factor 66% • Construction permit
Proportion of Firm Energy 85% • Energy Generation license
Construction Period 5 Years • Transfer of land right for 1 USD
Duration life of project 50 Years • Full year PPA
Domestic Tariff 6.9 USc/KWh
Export Tariff 8 USc/KWh
ORGIA
Note: All the calculations are based on preliminary assumptions. Therefore any clarifications will cause appropriate changes in the final results.
21. TOBARI HPP
BASIC PARAMETERS
IN
Total Installed Capacity 200 MW
Average Annual Generation 810 GW/h
PROJECT DATA
Dam Height
IN GEO
173(m)
Dam Volume 200(mln.m3)
Normal Headwater Level 1060 (m)
Tailwater Downstream Pool 910(m)
Project Discharge 235 (m3/sec)
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22. www.investingeorgia.org 23
TOBARI HPP
ASSUMPTIONS AND FINANCIAL INDICATORS
Construction Cost 310 Million USD
VEST
Construction Period 5 Years
Domestic Tariff 4.8 USc/KWh
Export Tariff 8 USc/KWh
Project IRR 12%
Project NPV 94 Million USD
Equity IRR 17%
Equity NPV 110.08 Million USD
Payback Period 14 years
ORGIA
Number of Observations 30 years
TOPOGRAPHIC MAP
Note: All the calculations are based on preliminary assumptions. Therefore any clarifications will cause appropriate changes in the final results.
23. FARI HPP
BASIC PARAMETERS
Total Installed Capacity 180 MW
IN
N
Average Annual Generation 780 GW/h
PROJECT DATA
Dam Height
Dam Volume
Normal Headwater Level
IN GEO
173(m)
240(mln.m3)
1300 (m)
Tailwater Downstream Pool 1060(m)
Project Discharge 103 (m3/sec)
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FARI HPP
ASSUMPTIONS AND FINANCIAL INDICATORS
Construction Cost 297 Million USD
VEST
Construction Period 5 Years
Domestic Tariff 4.8 USc/KWh
Export Tariff 8 USc/KWh
Project IRR 12%
Project NPV 91.7 Million USD
Equity IRR 17%
Equity NPV 107.09 Million USD
Payback Period 14 years
ORGIA
Number of Observations 30 years
TOPOGRAPHIC MAP
Note: All the calculations are based on preliminary assumptions. Therefore any clarifications will cause appropriate changes in the final results.
25. LENTEKHI HPP
BASIC PARAMETERS
IN
Total Installed Capacity 120 MW
Average Annual Generation 560 GW/h
IN GEO
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26. www.investingeorgia.org 27
LENTEKHI HPP
ASSUMPTIONS AND FINANCIAL INDICATORS
Construction Cost 189 Million USD
VEST
Construction Period 4 Years
Domestic Tariff 4.8 USc/KWh
Export Tariff 8 USc/KWh
Estimated Cost per kW capacity $1,575 /kWh
Simple Pay Back Period 7.6 years
Pre-tax Internal Rate of Return-Assets 10.9%
Pre-tax Internal Rate of Return-Equity 29.6%
ORGIA
Anticipated Life-span 50 years
GEOLOGY MAP
Lentekhi Project, 120 MW
Note: All the calculations are based on preliminary assumptions. Therefore any clarifications will cause appropriate changes in the final results.
27. INVEST
IN GEORGIA
A
GEORGIAN NATIONAL
INVESTMENT AGENCY
www.investingeorgia.org
E-mail: enquiry@investingeorgia.org
Portfolio Manager: Alexander Sajaia
E-mail: asajaia@investingeorgia.org