Soltage Business Model

Transcription

1 Soltage Business Model Soltage is a full service renewable energy company that develops, owns and operates solar energy stations across the United States. Using proven technology and on-site generation, Soltage can supply a significant portion of a customer s long-term energy needs at a stabilized cost at or below retail rates. Soltage s primary clients are commercial, industrial, agricultural, utilities and government agencies. Soltage s typical solar installations are at least 750 kw DC or greater in size, cover a minimum of 75,000 square feet of property, and provide up to 90% of a client s annual electricity needs. 2 1

2 Short History of The Solar Industry Auguste Mouchout, a mathematics instructor at the Lyce de Tours. Mouchout began his solar work in About Tenaska Tenaska is Soltage s Largest Shareholder: Highly regarded major independent power producer Top-35 private company in US 1 Largest Soltage shareholder since 2009 Substantial renewable power generation experience Leading expertise in power generation & transmission Extensive network of energy industry relationships $7.2 Billion annual revenue in power plants in operation 11,000 MW under management 1 Forbes magazine, based on 2011 revenues 2 Tenaska 2012 Annual Report Supplement: 4 2

3 Proven Track Record Proud history of 31 projects originated and developed 31 locations under management 75 MW of generation under management 100 Million kwh/year of production 8 States and counting 100% at target performance or better 5 Soltage History Soltage identifies, develops and operates electricity power stations using proven solar technology Offices in Jersey City, New Jersey and Hartford, Connecticut Management has over 75 years development and finance experience in the power industry Founded in 2006, Soltage is backed by investors including Tenaska, one of the largest energy companies in the US. Since 2008, Soltage has successfully developed over 25 solar power assets totaling over 68 MW Focus on East Coast solar markets Focus on best in class portfolio financing and technical execution Soltage Project History 280kW 342kW 667kW 95kW 149kW 3,000 kw 3,000 kw 3,000 kw 3,000 kw 500kW 15,100 KW 7 projects 39,900 KW 11 projects CONFIDENTIAL 6 3

4 Suggestions for the Connecticut Solar Program Hold ZREC auction semi annually (not annually) Implement VNM for all classes of customers not just municipals ( e.g. precedent MA, NY) Implement Community solar tariff Provide an additional ZREC incentive (adder) for Strategic Zones (e.g. NY) where the utilities encourage renewable development on areas of their distribution networks Provide an additional ZREC incentive (adder) for Brownfield development Increase the budgets for the Solar above the current levels 8 4

5 Winning Strategy for the CT ZREC PV Program End user PPA Rate ZREC Auction Price PPA rate is optimized to win the auction. Project is built Client recognizes savings End user PPA Rate ZREC Auction Price If PPA rate is too low, will be above auction award price. No project and client does not recognize any savings CONFIDENTIAL 9 Key Benefits of 3rd Party Ownership Experience no upfront capital expense. Buy renewable energy, not energy generating assets. Soltage offers cost reductions on your electricity operating expense from day one allowing you to avoid waiting years for a large capital purchase to pay off. Stabilize your energy costs. Protect against rising and volatile electricity costs from the local utility. Soltage PowerStations provide a substantial portion of building s electricity demand through a predictable fixed price structure for up to 25 years Maximize savings. Soltage manages all aspects of the ongoing maintenance of the system. We generate as much clean affordable energy as possible our financial incentives are aligned with yours. Capture your solar resources. Soltage helps you monetize your natural resources and put your underutilized real estate assets to work toward your bottom line. Contribute to a renewable future. Be an energy leader by taking a meaningful step toward clean domestic energy sources. With Soltage, you can simultaneously take charge of your power bills and your environmental footprint. Employ proven technology. Soltage partners with market leaders to deliver the highest quality, efficient, and reliable technologies ensuring long term productivity at your site. Monitor you energy demand real-time. With your Soltage PowerStation you will gain access to live data about your building s demand and the system's production. Soltage believes in empowering our clients to manage energy demand by putting the information in the right hands. 10 5

6 Proven Development Process Project Lifecycle Originate Build Own & Operate Soltage: Originates credit-worthy clients from a wide range of proprietary sources: Targets commercial, light industrial and large government sites Secures necessary permits, utility and regulatory approvals Enters into long term agreements typically duration; 10 year min commitment Manages construction and financing of Powerstation at the host location: Assembles financing from capital sources Contracts with top-tier design and construction partners Selects solar panel from a range of options chosen based on cost and application site Ensures warranties on components extending for 25 years or more Owns & Operates the Powerstation: Sells electricity to clients at stable, contracted prices over duration of PPA Manages all technical, operational and regulatory matters 11 Appendix 6

7 Selected Soltage PowerStations Pilgrim City kw Milford, CT 17.5 years Mazza & Sons kw Tinton Falls, NJ Appliance Dealers Coop kw Monroe Township, NJ Blyth Ground Mounted 12 MW Blyth, PA St Lukes Lifeworks 149 kw Stamford, CT Sikorsky Phase I: 101 kw Phase II (planning): 4MW Stratford, CT CONFIDENTIAL 13 Selected Soltage PowerStations Wyman Gordon Co MW Palmer, MA Wyman Gordon Co. 5.6 MW Warren, MA Wyman Gordon Co. 2.5 MW N. Brookfield, MA Moark Egg Farm 1.09 MW Franklin, CT Moark Egg Farm 772 kw Colchester, CT Vulcraft of NY 1600 kw Chemung, NY CONFIDENTIAL 14 7

8 Selected Soltage PowerStations Duke Energy 6.4 MW Mount Olive, NC Duke Energy 6.4 MW Brogden, NC Duke Energy 6.4 MW Goldsboro, NC Duke Energy 6.4 MW Kenansville, NC VEPP, Inc 2.7 MW Coventry, VT 25 years Monson, MA * 3.5 MW Oxford, MA * Towns of Shirley, Shirley Water District, Ware and Leominster- all of takers on this project CONFIDENTIAL 15 Selected Soltage PowerStations TMLP 3.6 MW Berkley, MA 25 years TMLP 1.2 MW Freetown, MA Home Depot 500 kw DOW - Wilmington DE Home Depot 2.0 MW Wilmington, DE Town of Gardner, MA 1.98 MW Gardner, MA CONFIDENTIAL 16 8

9 Contacts Douglas Distefano VP Marketing & Sales p (201) m (917) e [email protected] CONFIDENTIAL 17 Superfund Site Coventry, VT - Case Example Soltage, is the owner of a 2.7 MW solar project in Coventry, Vt., on a former landfill site, which is the largest project of its kind in Vermont. Additionally, Soltage has installed solar arrays on numerous brownfields which require similar non penetrating systems and environmental review including a 1.9 MW solar array at a DuPont site in Wilmington Delaware and a 548 kw solar array at a separate DuPont site in Delaware.. Project Located in Coventry, VT 2,700 kw (dc) system 14,227 solar panels >391,888 kwh generated to- 3/14/14 >690,366 lbs carbon avoided 18 9

10 Multi-Project Clients New Clients in 2013 & 2014 Solar Credit Clients 6/16/2015 Soltage Clients Extensive record of working with top-tier clients and elite business partners Current clients include S&P 500 companies, large utilities and municipalities. Selected examples: 19 10