Nordex SE. Capital Markets Day Products & Sales - Lars Bondo Krogsgaard

Transcription

1 Nordex SE Capital Markets Day Products & Sales - Lars Bondo Krogsgaard Rostock, 13 October 2011

2 SUMMARY The situation in the wind industry has changed: Attractive medium-term growth prospects Overcapacity at least in the short run Significant number of competitors Pricing pressure How does Nordex intend to compete in this market? 1. Cost reduction 2. Performance increase 2

3 PRODUCT DEVELOPMENT WITH A DUAL FOCUS: COST REDUCTION AND PERFORMANCE INCREASE Head mass per MW [t/mw] Future light cost reduction -25% Tomorrow 4 MW Onshore 6 MW Offshore Today heavy 2.5 MW Gamma 1.5 MW Beta +20% Update 1.5 MW N117/2.4 MW 2,000 3,000 4,000 5,000 Swept area per MW [m²/mw] "performance increase 3

4 PRODUCT DEVELOPMENT PROGRAMME Further Development of the 2.5 MW platform New N117 WTG +17 metres rotor diameter, improved performance on IEC 3 sites, the most efficient turbine for low wind conditions currently on the market 4 MW Onshore turbine New N1XX WTG New onshore platform mainly for low and medium wind sites Drive train concept currently under development 6 MW Offshore turbine New N150/6000 WTG Direct drive permanent magnet synchronous generator for a more efficient and lighter turbine Modular design for better serviceability 4

5 NORDEX PRODUCTS Current product portfolio Type Capacity Wind class Main Markets N77/ MW IEC IIa* Asia N82/ MW IEC III* Asia N80/ MW IEC Ia* Europe, USA N90/ MW IEC I & II* Europe, USA N100/ MW IEC II & III* Europe, USA N117/2400 (series start: 2012) 2.4 MW IEC III* Europe, USA The Nordex 1.5 MW Beta series * Note: IEC I: strong wind; IEC II: medium wind; IEC III: low wind The Nordex 2.5 MW Gamma series 5

6 TRACK RECORD OF THE 2.X MW PLATFORM More than 4,100 MW and 11 years of experience in the 2.X MW class 2000 Introduction of Generation ALPHA Prototype of N80/2500 installed Capacity installed in MW¹ First installation of N90/2300 1, First installation of N90/2500 LS 2007 Introduction of Generation BETA with N90/2500 2, First installation of N100/ Introduction of Generation GAMMA with serial start of N100/ ,0 01/2011 Sales start of N117/ /2011 First installation of N117/2400 in commercial project 04/2012 Delivery start of N117/ Status: 09/2011 6

7 GENERATION GAMMA THE EFFICIENCY CLASS Generation Gamma Experience is key to building reliable power plants: our turbines are the result of eleven years of consistent technical development of the platform up to 2.5 megawatts. The N80, N90, N100 and N117 design represents the third generation of the platform the Gamma Generation. Nordex customers benefit from mature technology and robust design. 7

8 WHY DO WE CALL IT THE EFFICIENCY CLASS? Proven technology: more than 1,500 installations Most efficient multi-megawatt turbine for all wind sites class 1 to class 3 Low noise emission levels Compliance with common grid codes Net capacity factors up to 40% System upgrades in Generation Gamma available since 2010 Optimized Yaw System Optimized Pitch System Optimized Cooling System Optimized Hub Design New Nacelle Desing & On-Board Crane 8

9 GENERATION GAMMA Gamma system upgrades enable wind class shift & platform expansion Specific Rotor Area [in m²/mw] 5,000 N117/2400 IEC3a +17 meters Ø % AEP 2 Platform Expansion N117/2400 new for sites with light wind conditions [IEC3a] 4,000 3,000 2,000 N100/2500 IEC3a N90/2500 IEC2a N80/2500 IEC1a N100/2500 IEC2a +10 meters Ø % AEP N90/2500 IEC1a +10 meters Ø % AEP 1 Wind Class Upgrade N100/2500 now for sites with medium wind conditions [IEC2a] N90/2500 now for sites with strong wind conditions [IEC1a] Increase in Annual Energy Production (AEP) [in %] 9

10 WHAT S NEW ABOUT THE N117/2400? GOALS OF THE PLATFORM EXPANSION Expansion of the 2.x MW platform by a wind turbine offering maximum AEP at sites with light wind conditions [annual average wind speed <7,5m/s] in the light of increasing development of such project sites world wide with a competitive portfolio of hub heights for the optimal utilization of higher wind speeds at increasing heights which significantly reduces the cost of energy in light wind conditions with significantly reduced noise emission levels to comply with stringent regulations on noise restrictions in certain markets (e.g. Germany) 10

11 WHAT S NEW ABOUT THE N117/2400? WHAT WE HAVE CHANGED Hub & Nacelle Towers Rotor Blade <150m tip height <180m tip height 120,0m <200m tip height 140,0m Steel tower 91,0m Transition piece Steel tower Concrete tower Steel tower 0m Use of larger gearbox as well as modified pitch bearings from proven product families of established suppliers Minor modifications in other machine structure components Load reductions and advances in the design of steel tube towers enable hub height of 120 m (R120); a new hybrid contrete/steel solution enables 140m hub height (PH140) Competitive tower portfolio in accordance with tip-height restrictions of 150m, 180m and 200m Use of carbon fiber composites in the girders of the newly developed rotor blade NR 58.5 is key for weight reduction Structural & aerodynamic design are based on the fully certified in-house developments NR 45 and NR 50 11

12 WHAT S NEW ABOUT THE N117/2400? Rotor blade Structural design with key innovation carbon girders Trailing Edge Girder Shell Pressure site Trailing Edge Shear Web Main Girders from carbon fibre composites Main Shear Web Trailing Edge Girder Shell Suction site 12

13 STRENGTHS OF THE N117/2400 Development of Cost of Energy at a typical light wind site (constant wind at 100m tower height) Change in Levelized Cost of Energy [LCOE in /MWh] 100% ~80% N100/2500-R100 Year 2010 Efficiency Packages New Turbine N117/2400-R91 New Tower R120 N117/2400-R120 Year

14 STRENGTHS OF THE N117/2400 Maximum efficiency for light wind sites Output [kw] / Operating hrs [hrs/a] N117 Power Curve [kw] N100 Power Curve [kw] m/s [hrs] Targeted development for maximum efficiency on sites with standard light wind conditions [e.g. 6.5 m/s on hub height] Ideal combination of rotor diameter and nominal power with a significant increase in specific area [m 2 /MW] m/s [MWh/a] 800 Wind speed [m/s] Nominal power and cut-out wind speed are clearly determined by swept area N117/2400 N100/2500 EP2-25 m/s cut-out Massive increase in Annual Energy Production on sites with light wind conditions Wind speed [m/s] 14

15 STRENGTHS OF THE N117/2400 AND THE RESULT? THE MOST EFFICIENT MULTI-MW TURBINE IN THE MARKET! Benchmarking of N117/2400 at light wind conditions (6.5 m/s at hub) Turbines by Nominal Capacity [MW] 3, , , , , Nordex - N100/ % Nordex - N117/2400 2, , , Full load hours (Gross p.a.) [h p.a. = Gross AEP 1 /MW] 1 Gross Annual Energy Production 6.5m/s, Air density rho=1,225 kg/m 3 ; k=2,0. 15

16 and now it s time to go offshore! 16

17 OUR OFFSHORE STRATEGY IS BUILT ON THREE MAIN PILLARS Competitive product: N150 Experienced Management Team Market entry with reference project Direct drive, 6 MW, 150m Rotor First prototype in 2012 (onshore), 2013 (offshore) Establishment of separate business unit CEO Nordex Offshore with track record of more than 15 years in offshore Additional staff with extensive experience in offshore wind industry hired Fast track to achieve offshore market entry 40% share in the Arcadis Ost 1 project Deliver up to 70 turbines, planned installation in 2014/15 Arcadis Ost 1 17

18 NORDEX OFFSHORE PLAN TIME SCHEDULE 2010 Arcadis Ost 1 Signed 2012/2013 Prototype phase (intensive testing) 2014 Start series production 2015 First large scale project 18

19 OFFSHORE BECOMING COMPETITIVE Swept rotor area per MW 1st generation ( ): Energy production per turbine is too low with 2-3 MW WTG (high infrastructure costs/mw) 2nd generation ( ): Existing 5-6 MW offshore turbines are relatively heavy and rotor is too small 3rd generation (2014 -): Direct drive, large rotor, low top head mass, extended lifetime The N150/6000 will be one of the first of the new more powerful and lighter generation of offshore turbines 19

20 6MW IS THE OPTIMAL GENERATOR SIZE FOR THE FUTURE OFFSHORE TURBINE GENERATION Efficiency 3 m²/kw 55 t/mw Output High infrastructure costs require maximum energy production 6 MW Durability Longer blade = higher technical risk 20

21 THE N150/6000 IS NORDEX TURBINE FOR THE OFFSHORE MARKET Technical data & key features 6.0 MW rated power direct drive permanent magnet Reduced operations and maintenance costs Higher reliability and energy yield Rotor diameter 150 m, 17,671 m² swept area Leading edge swept area to generator ratio Maximum efficiency Designed for extreme offshore conditions Lower costs Very low top head mass (structure & logistics) Service friendly design (lower logistics and operations costs) 25 year design lifetime (minimum cost per kwh) 21

22 THE N150/6000 IS THE MOST ECONOMICAL SOLUTION FOR OFFSHORE WIND PROJECTS Choice of technology Design for offshore conditions Direct drive Permanent Magnet Generator because: Offshore Reliability is decisive Minimize number of rotating parts Avoid industry known vulnerable parts Proven track record of great DD performance in the industry High impact of operations and maintenance cost Detailed study of OPEX behind choice of technology Minimizing consequence of component errors through placement of generator in the back of the nacelle Improved serviceability and major component exchange; minimum disassembly work necessary Higher yield Reduced transmission losses through drive train with Direct Drive 22

23 IMPLEMENTING A MORE EFFECTIVE SALES ORGANISATION: MORE THROUGH FOCUS 23

24 IMPLEMENTING A MORE EFFECTIVE SALES ORGANSATION: MORE THROUGH FOCUS Market selection criteria Selected markets We go where the volume is: Choose the markets that contribute the most to growth in new installations We aim high: Choose markets where Nordex can realistically achieve a top three position by 2015 We leverage existing resources: Focus efforts on markets where we have resources, or where activities can be supported well We want a strong home base: A strong position in Germany is a must to ensure test sites, to validate our product s qualities, and because Germany is a top 3 market in Europe North UK/Ire Sweden [Finland] South France Italy Turkey East Poland [Romania] [Bulgaria] Markets to watch: Norway Markets to watch: Greece Markets to watch: Croatia, Ukraine Germany 24

25 IMPLEMENTING A MORE EFFECTIVE SALES ORGANSATION: MORE THROUGH FOCUS Implementation of a simple set of business principles to drive sales in Europe Business principles Targeted benefits Focus on the most important markets first Restrict labor-intensive turnkey bidding Priority to key customers Phased approach to new markets Select the projects most likely to yield business A scaling of activities to fit the resources actually available Clear and easily communicable sales priorities Realistic approach to penetration of new markets Importance of key/repeat customers stressed More efficient use of resources throughout Nordex 25

26 SUMMARY Product development with a dual focus on cost reduction and performance increase New products of Nordex are designed to be best in class N117: maximum AEP at sites with light wind conditions and significantly reduced cost of energy Offshore turbine: 6 MW direct drive turbine with a leading edge swept area to generator ratio; maximum efficiency and low cost of energy Nordex is implementing a more effective sales organisation Reorganisation of sales activities in Europe Simple set of business principles to drive sales in Europe 26