concentrating solar thermal energy & power generation
CONCENTRATING SOLAR THERMAL ENERGY & POWER GENERATION INVESTOR PRESENTATION
- CONFIDENTIAL -
SOLARLITE AT A GLANCE
www.solarlite.de
Solarlite is a technology provider and EPC contractor for CSP power plants and Industrial process heat (steam) plants
Solarlite developed an award winning, proprietary direct steam generation (DSG) technology
“olarlite s te h ology has ee de o strated i se eral plants including the orld s first o er ial D“G power plant in 2011
“olarlite s ost of stea of € ct 2,3 per kWh(th) (@ 2.300 kW/h/m2/a) is approx. 1/3 of the cost of conv. steam generation
Solarlite is a cost leader for CSP plants up to 50 MW with LCOE of approx. € ct 9 per kWh(el) (@ 2.300 kW/h/m2/a)
The process heat market is expected to reach 3.500 GWth by 2050 (IEA estimate) Solarlite CSP targets a leading position in industrial process heat market by 2016 - CONFIDENTIAL -
-1-
INVESTMENT RATIONALE FOR SOLAR STEAM
Direct steam with temperatures of up to 400°C offered today
Temperatures up to 550°C currently being long-term tested – offering the opportunity to feed conventional power plants without efficiency losses
“olarlite s ost of stea of € ct 2,3 per kWh(th) (@ 2.300 kW/h/m2/a) is approx. 1/3 of the cost of the cheapest fossil fuel driven steam generation technology
Energy savings of up to 50 % possible for industrial steam applications
Investment IRRs up to 50% possible for industrial steam applications
Cash flows and risk structure suitable for BOT models as well as infrastructure investors
Low CAPEX, and automated production process offer fast production ramp-up
R&D partnerships with leading CSP research institutions incl. DLR, CIEMAT, and SERT
www.solarlite.de
- CONFIDENTIAL -
-2-
CSP CONCEPT: ELECTRICITY OR POWER GENERATION Solar concentration
Thermal energy generation
Mirrors focus the solar radiation o to a re ei er a sor er pipe or tu e
Use of thermal energy for
The bundled sunrays heat the transfer fluid circulating through the receivers Electricity generation
Steam
Steam turbine with generator
The energy captured by the heat transfer fluid is used to power a turbine, generating electricity Hybridization with other energy sources
Sun
CSP plants can be coupled with conventional energy sources, e.g. natural gas, coal, or with alternative energy sources like biomass or geothermal energy Industrial processes as process heat
Solar field Parabolic troughs
The steam is used as process heat in the industry. Estimated requirement by 2050 approx. 500 GWpth (examples cf. slide 7) Pumping system Cooling tower
Energy storage Unlike solar PV, the generated energy can be stored as heat, making CSP eligible for base load energy generation -3-
SOLARLITE‘S DIRECT STREAM CSP DESIGN Feed water pump
1 Pre-heater Down comer
2
Turbine 7
4 5
3
Steam drum
Evaporator
Super heater 6
(1-3) Preheating and evaporation of the process water (4, 5) Steam treatment (6) Super heating (7) Turbine receiving the required steam quality for the power generation
Illustratio : “olarlite s T“E 1 po er pla t
www.solarlite.de
- CONFIDENTIAL -
-4-
TROUGH SPECIFICATIONS AND CSP INSTALLATIONS SL 4600 TROUGH DETAILS
DUKE/Spain
DUKE/Spain
SL4600+/Spain
SL4600/Thailand
Segment Length
12 m
Aperture Width
4,6 m
Gross Aperture Area of 1 segment
55,2 m2
Collector Length
up to 120 m
No. of segments
up to 10
Focal Length
1.2 m
Rim Angle
87.6°
Concentration factor
66
Deviation from ideal parabola - RMS
< 1.2 mrad
Maximum operating windspeed
50 kmph
TSE1/Thailand
Solarlite CSP systems have been installed and in operation in Asia and Europe since 2004. Our experience in controlled solar steam production is several years ahead. www.solarlite.de
- CONFIDENTIAL -
-5-
STEAM COSTS
Example regions: South of France, central Italy, Northern Spain
Example regions: Wide parts of MENA, Portugal South West US
Solar heat offers significant cost benefits even at low solar radiation. Sources: Worldbank, IEA, EIA, Eurostat, country statistics, boiler efficiency, including waste heat www.solarlite.de
- CONFIDENTIAL -
-6-
TARGET INDUSTRIES AND STEAM DEMAND
Oil & Gas industry Enhanced Oil Recovery 30 GWth until 2030 25 bln €
Beverage industry (F&B) 716.000 GWth/year (2050) ~ 80 GWth
Pulp & Paper 1,777,000 GWth/year (2050) ~ 200 GWth
Dairy industry 716.000 GWth/year (2050) ~ 80 GWth
Utilities & Independent small power producer 60 GWe until 2030
Chemical industry 660,000 GWth/year (2050) ~ 75 GWth
www.solarlite.de
- CONFIDENTIAL -
Total demand: > 500GWpth ~EURbn 500
Source: UNITED NATIONS INDUSTRIAL DEVELOPMENT ORGANIZATION
-7-
CASE STUDY – INDUSTRIAL PROCESS HEAT CASE: CHEMICAL INDUSTRY Installation of 18 CSP collectors to provide a solar steam output of 6.7 t/h on 33.500 m2 The solar system supplies saturated steam at 225°C and 26 bara
ENERGY COST SAVINGS
76,000 EUR per year and 1,155,000 m3 of natural gas per year
30,724,000 EUR in total with a lifetime of 25 years
year and 1,155,000 m3 of natural
gas per year
INVESTMENT 3,746,000 EUR Capital value of 8,639,649 EUR
Return on Investment of 48 % CO2 SAVINGS 2,221 t per year and 55,525 t after 25 years of operation www.solarlite.de
- CONFIDENTIAL -
-8-
REFERENCES TSE1
TRESERT
First Direct Steam Power Plant in the world in operation since 2011. Solar steam production above expectations.
45.000
m2
of solar troughs produce 5 Mwe.
Tri- Generation
WOLTOW Parabolic trough power plant for a fish farm
DUKE Direct Steam Generation 2.0
-9-
PROJECT PIPELINE
31 MWe power supply in Egypt, Italy and Thailand 15 MWth steam supply for chemical industry and beverage industry in Brazil, India, Italy and Thailand 12 MWth steam supply for Enhanced Oil recovery in Kuwait Feasibility Study for Enhanced Oil Recovery in Qatar www.solarlite.de - CONFIDENTIAL - 10 -
TEAM AND VALUE CHAIN The technical core team consists of: Dr Joachim Krüger, CEO – PhD Renewable Energy, Master Environmental Science Mr Yuvaraj Pandian – Master in Solar Energies; Scientific works at DLR (performance of CSP Technologies) Mr Matthias Müller – Dipl. Ing.; Scientific works (processes and fuel cell research) Plus allied partners and project based team members (approx. 26 persons) EPC (engineering, procurement, construction)
Components
Service and maintenance
Solar field:
Building of the solar field
Solar field:
Trough production In-house tracking system Purchase of all further components
Maintenance at regular intervals Complex repairs possible through third parties
www.solarlite.de
Detail engineering Purchasing Construction and quality control Commissioning and hand-over
Support by DLR (concept) and specialized engineering peaterns (esp. for statics, steam power cycle, piping) - CONFIDENTIAL -
- 11 -
3YEAR FINANCIAL PLAN Profit and Loss EUR Number of projects MW under construction EPC consulting and engineering provisions, licences, funding Turnover Net revenue Employees Personnel costs other operating expenses Total operating expenses EBITDA % of turnover EBIT www.solarlite.de
Plan 2015 2 5+1+1 1.400.000 500.000 175.000 2.075.000 2.075.000 12 873.585 396.000 1.269.585 805.415 38,82% 805.415
- CONFIDENTIAL -
Plan 2016 2 5+5+1+1 2.400.000 500.000 200.000 3.100.000 3.100.000 16 1.154.250 397.080 1.551.330 1.548.670 49,96% 1.548.670
Plan 2017 2 5+5+1+1 7.000.000 1.500.000 800.000 9.300.000 9.300.000 16 1.154.250 398.192 1.552.442 7.747.558 83,31% 7.747.558
- 12 -
PARTNERS TECHNOLOGY RESEARCH PARTNERS
INDUSTRIAL PARTNERS
SALES PARTNER
AL NASR HOLDING
Actual research projects with DLR and CIEMAT. www.solarlite.de
Mutual research projects with Huiyin, COBRA and 3M Thai. - CONFIDENTIAL -
Mutual sales activities and agreements in place. - 13 -
SWOT ANALYSIS S
DSG technology leadership Reference plants Partnerships with DLR, CIEMAT, SERT, div. research institutes Full value chain aligned Inexpensive, light production Decisive technology differentiation Supportive shareholders Project pipeline (CSP, EOR [enhanced oil recovery], industrial process steam) Low capital requirement for SL operation
CSP's return to mainstream technology Limited survivors of the CSP crisis Enhanced oil recovery (Kuwait > 20 GWp) Steam for industrial processes Joint-ventures with (local) partners (production/operation/financing) New trough design
O www.solarlite.de
Thin management team Company currently dependent on Joachim Krüger Weak company financials Weak order backlog Limited "public" CSP support Numerous CSP dead bodies in the industry
W
Loss of RE support in target markets Increasing interest rates Financial markets "shutting down" PV solves encapsulation issue (i.e. suitability for sunbelt increases) Further cost reduction in PV / energy storage SL cost down targets will not be achieved
T - CONFIDENTIAL -
- 14 -
CAPITAL REQUIREMENT & SUMMARY Solarlite CSP Technology requires new capital of 7 Mio € for company growth in 2016: marketing for core industries and regions, product development for further cost reduction and project preparation.
WHY SOLARLITE?
Proven, ecological technology with unique advantages in steam production First mover advantage in the process heat market with interesting potential Excellent network in all related fields of the industry List of references and reached level in sales pipeline Competent, flexible and experienced team Relevant awards, like:
3
Ger a y’s best ideas La d arks i the La d of Ideas 2011
www.solarlite.de
National Global Energy Award for Thailand Winner 2012
- CONFIDENTIAL -
Europea Co issio ’s Sustainable Energy Europe Campaign Official Partner -1-
Solarlite CSP Technology GmbH Schloss Duckwitz 17179 Duckwitz Phone +49 (0) 39972 – 5697-0 Fax +49 (0) 39972 – 5697-10 Mail [email protected] For more information and references: www.solarlite.de
FOLLOW US ON TWITTER Twitter @press_solarlite - CONFIDENTIAL -
- CONFIDENTIAL -
SOLARLITE AT A GLANCE
www.solarlite.de
Solarlite is a technology provider and EPC contractor for CSP power plants and Industrial process heat (steam) plants
Solarlite developed an award winning, proprietary direct steam generation (DSG) technology
“olarlite s te h ology has ee de o strated i se eral plants including the orld s first o er ial D“G power plant in 2011
“olarlite s ost of stea of € ct 2,3 per kWh(th) (@ 2.300 kW/h/m2/a) is approx. 1/3 of the cost of conv. steam generation
Solarlite is a cost leader for CSP plants up to 50 MW with LCOE of approx. € ct 9 per kWh(el) (@ 2.300 kW/h/m2/a)
The process heat market is expected to reach 3.500 GWth by 2050 (IEA estimate) Solarlite CSP targets a leading position in industrial process heat market by 2016 - CONFIDENTIAL -
-1-
INVESTMENT RATIONALE FOR SOLAR STEAM
Direct steam with temperatures of up to 400°C offered today
Temperatures up to 550°C currently being long-term tested – offering the opportunity to feed conventional power plants without efficiency losses
“olarlite s ost of stea of € ct 2,3 per kWh(th) (@ 2.300 kW/h/m2/a) is approx. 1/3 of the cost of the cheapest fossil fuel driven steam generation technology
Energy savings of up to 50 % possible for industrial steam applications
Investment IRRs up to 50% possible for industrial steam applications
Cash flows and risk structure suitable for BOT models as well as infrastructure investors
Low CAPEX, and automated production process offer fast production ramp-up
R&D partnerships with leading CSP research institutions incl. DLR, CIEMAT, and SERT
www.solarlite.de
- CONFIDENTIAL -
-2-
CSP CONCEPT: ELECTRICITY OR POWER GENERATION Solar concentration
Thermal energy generation
Mirrors focus the solar radiation o to a re ei er a sor er pipe or tu e
Use of thermal energy for
The bundled sunrays heat the transfer fluid circulating through the receivers Electricity generation
Steam
Steam turbine with generator
The energy captured by the heat transfer fluid is used to power a turbine, generating electricity Hybridization with other energy sources
Sun
CSP plants can be coupled with conventional energy sources, e.g. natural gas, coal, or with alternative energy sources like biomass or geothermal energy Industrial processes as process heat
Solar field Parabolic troughs
The steam is used as process heat in the industry. Estimated requirement by 2050 approx. 500 GWpth (examples cf. slide 7) Pumping system Cooling tower
Energy storage Unlike solar PV, the generated energy can be stored as heat, making CSP eligible for base load energy generation -3-
SOLARLITE‘S DIRECT STREAM CSP DESIGN Feed water pump
1 Pre-heater Down comer
2
Turbine 7
4 5
3
Steam drum
Evaporator
Super heater 6
(1-3) Preheating and evaporation of the process water (4, 5) Steam treatment (6) Super heating (7) Turbine receiving the required steam quality for the power generation
Illustratio : “olarlite s T“E 1 po er pla t
www.solarlite.de
- CONFIDENTIAL -
-4-
TROUGH SPECIFICATIONS AND CSP INSTALLATIONS SL 4600 TROUGH DETAILS
DUKE/Spain
DUKE/Spain
SL4600+/Spain
SL4600/Thailand
Segment Length
12 m
Aperture Width
4,6 m
Gross Aperture Area of 1 segment
55,2 m2
Collector Length
up to 120 m
No. of segments
up to 10
Focal Length
1.2 m
Rim Angle
87.6°
Concentration factor
66
Deviation from ideal parabola - RMS
< 1.2 mrad
Maximum operating windspeed
50 kmph
TSE1/Thailand
Solarlite CSP systems have been installed and in operation in Asia and Europe since 2004. Our experience in controlled solar steam production is several years ahead. www.solarlite.de
- CONFIDENTIAL -
-5-
STEAM COSTS
Example regions: South of France, central Italy, Northern Spain
Example regions: Wide parts of MENA, Portugal South West US
Solar heat offers significant cost benefits even at low solar radiation. Sources: Worldbank, IEA, EIA, Eurostat, country statistics, boiler efficiency, including waste heat www.solarlite.de
- CONFIDENTIAL -
-6-
TARGET INDUSTRIES AND STEAM DEMAND
Oil & Gas industry Enhanced Oil Recovery 30 GWth until 2030 25 bln €
Beverage industry (F&B) 716.000 GWth/year (2050) ~ 80 GWth
Pulp & Paper 1,777,000 GWth/year (2050) ~ 200 GWth
Dairy industry 716.000 GWth/year (2050) ~ 80 GWth
Utilities & Independent small power producer 60 GWe until 2030
Chemical industry 660,000 GWth/year (2050) ~ 75 GWth
www.solarlite.de
- CONFIDENTIAL -
Total demand: > 500GWpth ~EURbn 500
Source: UNITED NATIONS INDUSTRIAL DEVELOPMENT ORGANIZATION
-7-
CASE STUDY – INDUSTRIAL PROCESS HEAT CASE: CHEMICAL INDUSTRY Installation of 18 CSP collectors to provide a solar steam output of 6.7 t/h on 33.500 m2 The solar system supplies saturated steam at 225°C and 26 bara
ENERGY COST SAVINGS
76,000 EUR per year and 1,155,000 m3 of natural gas per year
30,724,000 EUR in total with a lifetime of 25 years
year and 1,155,000 m3 of natural
gas per year
INVESTMENT 3,746,000 EUR Capital value of 8,639,649 EUR
Return on Investment of 48 % CO2 SAVINGS 2,221 t per year and 55,525 t after 25 years of operation www.solarlite.de
- CONFIDENTIAL -
-8-
REFERENCES TSE1
TRESERT
First Direct Steam Power Plant in the world in operation since 2011. Solar steam production above expectations.
45.000
m2
of solar troughs produce 5 Mwe.
Tri- Generation
WOLTOW Parabolic trough power plant for a fish farm
DUKE Direct Steam Generation 2.0
-9-
PROJECT PIPELINE
31 MWe power supply in Egypt, Italy and Thailand 15 MWth steam supply for chemical industry and beverage industry in Brazil, India, Italy and Thailand 12 MWth steam supply for Enhanced Oil recovery in Kuwait Feasibility Study for Enhanced Oil Recovery in Qatar www.solarlite.de - CONFIDENTIAL - 10 -
TEAM AND VALUE CHAIN The technical core team consists of: Dr Joachim Krüger, CEO – PhD Renewable Energy, Master Environmental Science Mr Yuvaraj Pandian – Master in Solar Energies; Scientific works at DLR (performance of CSP Technologies) Mr Matthias Müller – Dipl. Ing.; Scientific works (processes and fuel cell research) Plus allied partners and project based team members (approx. 26 persons) EPC (engineering, procurement, construction)
Components
Service and maintenance
Solar field:
Building of the solar field
Solar field:
Trough production In-house tracking system Purchase of all further components
Maintenance at regular intervals Complex repairs possible through third parties
www.solarlite.de
Detail engineering Purchasing Construction and quality control Commissioning and hand-over
Support by DLR (concept) and specialized engineering peaterns (esp. for statics, steam power cycle, piping) - CONFIDENTIAL -
- 11 -
3YEAR FINANCIAL PLAN Profit and Loss EUR Number of projects MW under construction EPC consulting and engineering provisions, licences, funding Turnover Net revenue Employees Personnel costs other operating expenses Total operating expenses EBITDA % of turnover EBIT www.solarlite.de
Plan 2015 2 5+1+1 1.400.000 500.000 175.000 2.075.000 2.075.000 12 873.585 396.000 1.269.585 805.415 38,82% 805.415
- CONFIDENTIAL -
Plan 2016 2 5+5+1+1 2.400.000 500.000 200.000 3.100.000 3.100.000 16 1.154.250 397.080 1.551.330 1.548.670 49,96% 1.548.670
Plan 2017 2 5+5+1+1 7.000.000 1.500.000 800.000 9.300.000 9.300.000 16 1.154.250 398.192 1.552.442 7.747.558 83,31% 7.747.558
- 12 -
PARTNERS TECHNOLOGY RESEARCH PARTNERS
INDUSTRIAL PARTNERS
SALES PARTNER
AL NASR HOLDING
Actual research projects with DLR and CIEMAT. www.solarlite.de
Mutual research projects with Huiyin, COBRA and 3M Thai. - CONFIDENTIAL -
Mutual sales activities and agreements in place. - 13 -
SWOT ANALYSIS S
DSG technology leadership Reference plants Partnerships with DLR, CIEMAT, SERT, div. research institutes Full value chain aligned Inexpensive, light production Decisive technology differentiation Supportive shareholders Project pipeline (CSP, EOR [enhanced oil recovery], industrial process steam) Low capital requirement for SL operation
CSP's return to mainstream technology Limited survivors of the CSP crisis Enhanced oil recovery (Kuwait > 20 GWp) Steam for industrial processes Joint-ventures with (local) partners (production/operation/financing) New trough design
O www.solarlite.de
Thin management team Company currently dependent on Joachim Krüger Weak company financials Weak order backlog Limited "public" CSP support Numerous CSP dead bodies in the industry
W
Loss of RE support in target markets Increasing interest rates Financial markets "shutting down" PV solves encapsulation issue (i.e. suitability for sunbelt increases) Further cost reduction in PV / energy storage SL cost down targets will not be achieved
T - CONFIDENTIAL -
- 14 -
CAPITAL REQUIREMENT & SUMMARY Solarlite CSP Technology requires new capital of 7 Mio € for company growth in 2016: marketing for core industries and regions, product development for further cost reduction and project preparation.
WHY SOLARLITE?
Proven, ecological technology with unique advantages in steam production First mover advantage in the process heat market with interesting potential Excellent network in all related fields of the industry List of references and reached level in sales pipeline Competent, flexible and experienced team Relevant awards, like:
3
Ger a y’s best ideas La d arks i the La d of Ideas 2011
www.solarlite.de
National Global Energy Award for Thailand Winner 2012
- CONFIDENTIAL -
Europea Co issio ’s Sustainable Energy Europe Campaign Official Partner -1-
Solarlite CSP Technology GmbH Schloss Duckwitz 17179 Duckwitz Phone +49 (0) 39972 – 5697-0 Fax +49 (0) 39972 – 5697-10 Mail [email protected] For more information and references: www.solarlite.de
FOLLOW US ON TWITTER Twitter @press_solarlite - CONFIDENTIAL -
