J n u y TSX : AXY

Transcription

1 J apage n u a r1 y

2 Forward-Looking Information This presentation contains certain forward-looking information within the meaning of Canadian securities laws, which may include, but is not limited to, statements with respect to future events or future performance, management s expectations regarding Alterra s production capacity, results of operations, cash flows (including predictability thereof), revenues and requirements for capital, future demand for and prices of electricity, timing of construction for the Jimmie Creek and Shannon Wind projects, closing of Jimmie Creek, Shannon Wind and holding company financings, including proposed timing and terms, dividend potential, power generating capacities and Alterra s business prospects and opportunities. These statements reflect the current views of Alterra with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by Alterra, are inherently subject to significant business, economic, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause Alterra s actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements contained in this presentation, and Alterra has made assumptions based on or related to many of these factors. Such factors include, without limitation: fluctuations in currency markets (particularly with respect to the Icelandic krona, the U.S. dollar and Canadian dollar); risks related to the technological and operational nature of Alterra s business; changes in national or regional governments, legislation, regulation, permitting or taxation; political or economic developments in Canada, the United States, Iceland or other countries where Alterra may carry on business; risks and hazards associated with the business of renewable energy generation; risks relating to the creditworthiness and financial condition of suppliers and other parties which Alterra will deal with; inadequate insurance or inability to obtain insurance to cover these risks and hazards; employee relations; relationships with and claims by local communities and First Nations; availability and costs of equipment and labour; litigation; the success and timely completion of planned expansion and development programs; the growth rate in net electricity consumption; support and demand for renewable energy; government initiatives to support the development of renewable energy generation; the reliability of technical data and capital expenditure estimates; and availability of capital to fund development and expansion programs and such other risks identified under the heading Risk Factors in our Annual Information Form for the year ended December 31, Forward-looking information and statements are also based upon the assumption that none of the identified risk factors that could cause actual results to differ materially from the forward-looking information and statements will occur. Although Alterra has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended. There can be no assurance that the forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, prospective investors should not place undue reliance on forward-looking information. Other than as required by applicable securities laws, Alterra does not assume any obligation to update or revise such forward-looking information to reflect new events or circumstances. EBITDA Alterra discloses EBITDA as it is a measure used by analysts and by management to evaluate the Alterra s performance. As EBITDA is a non-ifrs measure, it may not be comparable to EBITDA calculated by others and should not be relied on. In addition, EBITDA is not a substitute for net earnings. Readers should consider net earnings in evaluating the Company s performance. A reconciliation of the non-ifrs measures used in this presentation is contained in our management s discussion and analysis (MD&A) for the year ended December 31, 2013, which is available on SEDAR at Page 2

3 Alterra Power Premier Clean Energy Producer Mission / Quick Facts Mission: to be a leading global renewable power company through: Continued excellence in production and safety as a premier operator/manager Successful origination and development of new utility-scale projects Opportunistic acquisitions of other renewable power projects and development assets Quick Facts: Annual Revenue: ~$90-100MM Annual EBITDA 1 : ~$45-50MM Six power plants generating 1,300 GWh of clean power annually Weighted average contract life: 18 years (North America: 23 years) Extensive development asset pipeline Skilled international team of developers, builders and operators to support our growth plans 1 Non IFRS measure, see page 2 Page 3

4 Alterra Power Asset Map Global Partners: Fiera Axium General Electric EDC Jarðvarmi Graziella Green Power Today: 262 MW Owned 568 MW Operated Near-Term Target: 395 MW Owned 834 MW Operated 50% Near-Term Growth Page 4

5 Alterra Power Global Fleet Power Plants Owned and Operated by Alterra CANADA Toba Montrose Hydro Capacity: 235 MW Contract: 31 years Ownership: 40% Alterra ICELAND Svartsengi Geothermal Capacity: 74 MW Contract: 7.2 years Ownership: 67% Alterra Dokie Wind Farm Capacity: 144 MW Contract: 22 years Ownership: 25.5% Alterra Reykjanes Geothermal Capacity: 100 MW Contract: 7.2 years Ownership: 67% Alterra USA Soda Lake Geothermal Capacity: 15 MW Contract: 7 years Ownership: 100% Alterra Page 5

6 Alterra Power Recent Accomplishments 2013 Accomplishments COMPLETED: 100% operations restored at Montrose hydro facility Newly installed protections mitigate against future occurrences COMPLETED: South American partnerships $72 million of new capital to advance premier projects in Chile and Peru EDC brings deep geothermal expertise COMPLETED: Select asset sales $39 million of proceeds for 10% of ABW Solar and 25.5% of Dokie 1 Accretive transaction tapping strong market appetite COMPLETED IN 2014: New partner at Jimmie Creek hydro Acquisition of Shannon Wind development asset Page 6

7 Alterra Power Next Phase of Growth Jimmie Creek Hydro project site Jimmie Creek Hydro Location: British Columbia Capacity: 62 MW Ownership: 51% Alterra Contract: 40 years Page 7

8 Alterra Power Next Phase of Growth Shannon Wind project site Shannon Wind Location: Clay County, Texas Capacity: 204 MW Ownership: Current: 100% Alterra Projected: 50% Alterra Page 8

9 Alterra Power Next Phase of Growth 2014 Goals Close C$230MM project financing for 62 MW Jimmie Creek hydro facility 40-year PPA with BC Hydro Further partnership with Fiera Axium On-site construction has commenced COD in August 2016 Close C$370MM project financing for 204 MW Shannon wind farm construction Optimally located project in Texas (wind resource, power sales) Major project contracts nearing completion COD in mid-2015 Close holding company financing (C$75MM-C$110MM) Source proceeds to fund construction equity for Jimmie Creek and Shannon Lender selected / in process Continue progress on rest of development pipeline Page 9

10 Alterra Power Growth Pipeline Expansions & Development Assets Jimmie Creek Hydro Location: British Columbia Capacity: 62 MW Ownership: 51% Alterra Contract: 40 years Dokie 2 Wind Farm Location: British Columbia Capacity: 156 MW estimated Ownership: 51% Alterra Shannon Wind Location: Texas Capacity: 204 MW Ownership: 100% Alterra Reykjanes 3 & 4 Geothermal Location: Iceland Capacity: 80 MW Ownership: 67% Alterra Mariposa Geothermal Location: Chile Capacity: 320 MW Ownership: 30% Alterra Eldvörp - Geothermal Location: Iceland Capacity: 50 MW est Ownership: 67% Alterra Page 10

11 Alterra Power Growth Pipeline Select Early Stage Assets Bute Inlet Hydro Location: British Columbia Capacity: 1,000 MW est Ownership: 100% Alterra Peru - Geothermal Location: SW Peru Area: >400,000 Ha Ownership: 30% Alterra Fir Point Pumped Storage Location: British Columbia Capacity: 1,000 MW est Ownership: 100% Alterra Italy - Geothermal Location: Northern Italy Area: 48,000 Ha Ownership: 45% Alterra Bulandsvirkjun Hydro Location: Iceland Capacity: 150 MW est Ownership: 33% Alterra Krýsuvik Geothermal Location: Iceland Capacity: 500 MW est Ownership: 67% Alterra Page 11

12 Alterra Power Value to our Shareholders Value Proposition World-class operating assets Strong stable cash flows Diversification across geographies and clean energy technologies Young assets with long contract life Core skills as developer/constructor/operator Significant growth phase underway in 2014 Page 12

13 Alterra Power Value to our Shareholders Average Contract Life Alterra has extremely high average contract life remaining on its projects Benefits: Long-term nature of cash flows will lend itself to any future dividend policy Particularly attractive to pension funds and life insurance companies (potential partners or investors) Net Capacity (MW) Contract Life (yrs.) Toba Montrose Dokie HS Orka Soda Lake Shannon Wind Jimmie Creek Total (Weighted Average) Weighted average contract life for North American projects = 23.0 years Page 13

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