THE WIND AND SOLAR PEOPLE

Transcription

1 THE WIND AND SOLAR PEOPLE

2 Knockaneden wind farm, Ireland

3 EXPERIENCED STAFF CONTINENTS MEGAWATTS OF WIND AND SOLAR FARMS IN CONSTRUCTION AND OPERATION MEGAWATTS OF OFFSHORE WIND FARMS IN DEVELOPMENT Megawatts of onshore wind and solar farms in development MILLION EURO IN CORPORATE FINANCE RAISED MILLION EURO OF PROJECT LEVEL DEBT AND EQUITY RAISED

4 WHAT OUR PARTNERS THINK Barclays Capital is delighted to be an equity investor in Mainstream. Eddie O Connor and his management team are recognised as world leaders in the renewable energy industry and they have demonstrated their ability to identify the best opportunities globally and put the most effective people in place to deliver them. Mark Brown Head of Barclays Capital Commodities Principle Investment Team

5 INTRODUCTION Our business is to develop, finance, construct and operate large-scale renewable energy plant for organisations such as utilities, investment companies and global consumer brands. Our business model offers an à-la-carte solution for our customers to partner with us at any stage of a project from site identification through to long-term operation. They understand that investing in renewable energy brings a range of benefits including a hedge against fossil fuel and carbon prices as well as enhancing their green credentials. On a global level, we bring best-in-industry skills, financial strength and a full range of project delivery expertise. On a local level, we draw on our partners understanding of their own markets to create the most cost-effective and efficient project delivery strategy. But it is our approach that sets us apart. Our vision. Our values. Our entrepreneurial spirit. And, most of all, our passion for what we do.

6 CANADA ONSHORE WIND & SOLAR IN DEVELOPMENT 1,266MW IRELAND Onshore Wind IN OPERATION 9MW IN CONSTRUCTION 8MW IN development 1,250MW SCOTLAND OFFSHORE WIND GERMANY IN DEVELOPMENT 450MW England OFFSHORE WIND IN DEVELOPMENT 1,200MW OFFSHORE WIND IN DEVELOPMENT 6,000MW USA ONSHORE WIND & SOLAR IN DEVELOPMENT 1,175MW SOUTH AFRICA ONSHORE WIND & SOLAR IN CONSTRUCTION 238MW IN DEVELOPMENT 5,110MW CHILE ONSHORE WIND & SOLAR IN CONSTRUCTION 33MW IN DEVELOPMENT 3,240MW Global project portfolio Please visit to see our most up-to-date global project portfolio.

7 WHAT OUR PARTNERS THINK Both North and South America are key strategic markets for Goldwind s international ambitions and we are eager to continue our work with partners like Mainstream who have significant project pipelines and experience in these markets. Tim Rosenzweig CEO Goldwind US

8 WHAT OUR PARTNERS THINK Macquarie is delighted to support Mainstream in the realisation of its UK and global renewable energy pipeline. We believe Mainstream is uniquely positioned to benefit from the development of the offshore wind sector, which will play an increasingly important part in the generation mix over the next decade. David Fass Chief Executive in Europe, Middle East and Africa Macquarie Group

9 FUNDRAISING TO DATE 251.7mTOTAL Sept 2012 Sept 2012 Dec 2011 Mar 2012 Aug 2010 Dec 2008 Corporate facility closed with Macquarie Bank comprising junior debt and equity warrants for up 40m to 60m ( 40m drawn). Equity raised from high net worth individuals in Ireland 17m which began in 2011 and closed in m 56.7m Repaid the loan notes which were issued in December 2008 and raised 40m from the issue of new loan notes which were again structured and arranged by Dolmen Corporate Finance. Raised 56.7m from private investors in the latest round of equity fundraising which began in 2009 and closed in m Successfully raised 26m in loan notes, structured and arranged by Dolmen Corporate Finance. Aug 2008 Feb m 32m Barclays Capital invested 20m for a 14.6% stake in the company. The Board, management and staff, as well as close associates of the company invested an additional 20m. Founded by Eddie O Connor and Fintan Whelan with a seed capital of 32m.

10 Construction of Jeffreys Bay wind farm (138MW), South Africa

11 WHAT OUR PARTNERS THINK Mainstream is a first class renewable energy developer. Its excellence is derived from the vision of its leadership team, the quality of its people and emphasis on forming strong partnerships. This makes them a preferred long term partner, to invest in renewable energy assets in the emerging markets and build on our joint success in South Africa. Mikael Karlsson CEO Globeleq

12 TIMELINE OF GROWTH 2008 Founded and started to scope global opportunities. Company founded by Eddie O Connor and Fintan Whelan after selling Airtricity to SSE and EO-N for 2 billion. Signed joint venture deal with Andes Energy to develop and build an initial pipeline of 400MW in Chile Established key partnerships and started onshore and offshore development. Awarded exclusive rights to develop GBP 1.1 bn Neart na Gaoithe offshore wind farm in Scottish waters with a potential capacity of 450MW. Acquired onshore wind portfolio of 787MW in Illinois, USA. Signed joint venture with Alberta Wind Energy Corporation to develop and build 400MW in Alberta, Canada. Signed joint venture with Genesis Eco-Energy to develop and build over 500MW in South Africa. Commenced development work on 1,200MW Horizont offshore wind farm in Germany Major progress offshore, sold first wind farm and raised additional funds for expansion. Secured grid connection for the 450MW Neart na Gaoithe offshore project. SMart Wind (50:50 jv between Siemens and Mainstream) was awarded an exclusive contract by The Crown Estate to develop and build 6,000MW of wind farms off the UK s east coast by 2020, called the Hornsea zone. Secured grid connection for the first 1,000MW of the 6,000MW Hornsea offshore project. After winning a 20 year off-take contract in a competitive process run by the Illinois Power Agency, Mainstream sold its 106.5MW Shady Oaks wind farm to Goldwind who started construction in Launched Friends of the Supergrid with ten founding members and appointed Ana Aguado as CEO. Development Total: 14,000MW Development Total: 400MW Development Total: 8,000MW

13 2011 Significant win in South Africa, sold first offshore project and onshore projects move towards construction. Awarded 238MW of wind and solar contracts in South Africa under the government s first renewable energy procurement programme. Projects to start operating from mid DONG Energy acquired a 33.3% stake in the first two offshore wind projects in the 6,000MW Hornsea zone. Hornsea zone became the first Round 3 project to successfully install a met mast. It used the innovative twisted jacket foundation. Secured Agreements for Lease from The Crown Estate for Neart na Gaoithe and Hornsea, Project One. Secured grid connection for the second 1,000MW of the Hornsea zone. Mainstream s offshore business was independently certified by Lloyds Register for Quality Assurance (LRQA) for the integrated management system for Safety, Health, Environment and Quality. Purchased 22 Goldwind turbines ahead of constructing the 33MW Negrete Cuel wind farm in Chile in Entered the Irish market by acquiring the 9MW Knockaneden wind project. Development Total: 15,500MW 2012/2013 Construction starts on six projects in Ireland, South Africa and Chile, offshore projects achieve significant milestones and major fundraising closed. Six wind and solar projects commence construction: 8MW Carrickeeny wind farm, Ireland 138MW Jeffreys Bay wind farm, South Africa 50MW Droogfontein solar PV farm, South Africa 50MW DeAar solar PV farm, South Africa 33MW Negrete Cuel wind farm, Chile. 9MW Knockaneden wind farm (operational late 2012). 450MW Neart na Gaoithe offshore wind farm makes submission for key consents. Launched 5,000MW Energy Bridge project which will export onshore and offshore wind energy from Ireland to the UK starting in Secured grid connection from National Grid for Energy Bridge. Signed Memorandum of Understanding with National Grid and REN of Portugal to develop, finance, build, own and operate Energy Bridge transmission system. BSH Stakeholder Conference ( Erörterungstermin ) held in March 2013 for 1,200MW Horizont offshore wind farm in Germany. Set up a new venture in Chile with leading private equity firm Actis to build 600MW of renewable energy projects. Development Total: 19,690MW TIMELINE OF GROWTH 279MW IN CONSTRUCTION

14 OUR IN-HOUSE EXPERIENCE YEARS OF EXPERIENCE

15 OUR IN-HOUSE EXPERIENCE We put people at the centre of everything we do. And it shows. The Mainstream team has played a key part in delivering literally thousands of megawatts of renewable energy around the world. For us, leadership is key. And our Board of Directors are acknowledged leaders in their respective fields. We have drawn together experts from across the industry, establishing Centres of Excellence for key disciplines across four continents. We understand what s involved in the complex development process, so we can quickly recognise the pitfalls as well as the potential. Then we put in place the most effective and efficient strategy to deliver a project to the construction phase and into operation. We shape our delivery approach around our partners needs. When they want us to deliver in areas where they are not well equipped, they look to us for the necessary skills. These include site selection techniques, energy analysis, grid design, project finance, power purchase negotiation and turbine procurement. But we are more than just a collection of functions. We are a dynamic team united by a common passion; our belief in renewable energy. It s a belief that drives everything we do. _GIS mapping _Energy analysis _Power transmission _Environmental management _Health and safety _Planning and consents _Project management _Construction management _Civil engineering _Corporate finance _Procurement and contracts _Power sales _Operations and maintenance

16 OFFSHORE We re developing over 7.6GW of offshore wind farms in the North Sea and we have secured grid connections for 2,450MW. Met Mast at Hornsea zone, England

17 OFFSHORE Neart na Gaoithe (450MW) Awarded exclusive rights to develop the site by The Crown Estate in February Mainstream owns 100% of project. Grid connection secured for project. Signed Agreement for Lease with The Crown Estate securing an option for the rights to use the seabed. Onshore consent application submitted to East Lothian Council in November Offshore consent application submitted to Marine Scotland in July Hornsea (6,000MW) 50:50 joint venture between Mainstream and Siemens Financial Services. Awarded exclusive rights to develop the Hornsea zone by The Crown Estate in Grid connection secured for 2GW. DONG Energy acquired a 33.3% stake in Project One. Signed Agreement for Lease for Project One (1.2GW) and Project Two (up to 1.8GW). Gained triple certification award from Lloyds Register. Installed the world s first twisted jacket foundation for its met mast. Horizont (1,200MW) Mainstream owns 100% of project. All investigations completed. BSH Stakeholder Conference ( Erörterungstermin ) held in March Consent expected in 2014.

18 WHAT OUR PARTNERS THINK Participation in Round 3 is a natural step for DONG Energy taking into account our leading position within offshore wind and our existing presence and focus on the UK market. Hornsea is an attractive zone and the agreement with SMart Wind provides DONG Energy access to development projects, which fits well into our project pipeline. Benj Sykes UK Country Manager DONG Energy Wind Power

19 Leading the Offshore Wind Industry World leading Offshore Advisory Committee Formed Offshore Advisory Committee to support the growth of its international offshore activities and to draw from leading industrialists with particular expertise in the energy sector. Multi-disciplinary development team with over ten years experience We have unrivalled experienced in all areas of offshore wind farm development including environmental; stakeholder; technical; and finance disciplines and a strong emphasis on health and safety. Proven track record in supply chain organisation Mainstream has built a series of very strong partnerships with every aspect of the supply chain, including Siemens for turbine manufacturing, Beluga the biggest heavy lift shipping company in the world, Prysmium the largest cable manufacturing entity in the world and Germanisher Lloyd, the world s biggest certifier of new designs of turbines. First offshore wind developer to receive The Crown Estate s Marine Energy Business Award Recognised for excellence in sustainability, innovation and business performance as well as excellence in integration of environmental, social and economic activities. Installed Round 3 s first met mast using the revolutionary twisted jacket foundation This novel foundation design, funded in partnership with the Carbon Trust and DONG Energy, aims to significantly reduce foundation costs. Reducing the cost of energy Member of the Offshore Wind Accelerator (OWA) technology research and development programme aimed at reducing costs by 10% over the next decade. Triple certification award from Lloyds Register Independently certified by Lloyds Register for Quality Assurance (LRQA) for its integrated management system for Safety, Health, Environment and Quality. Pictured: Alison Nimmo, CBE (The Crown Estate), Chris Hill (Mainstream Renewable Power), Joern Harde (Siemens) and Sir Stuart Hampson (The Crown Estate).

20 SUPERGRID Europe is embarking on a once-off transition to sustainability and Supergrid will revolutionise how we generate, transmit and consume electricity for generations to come.

21 SUPERGRID Mainstream s Chief Executive, Dr Eddie O Connor, formulated the initial proposals for the European Offshore Supergrid in Whilst not seen by policy makers as a priority at that time, today Supergrid is acknowledged as central to achieving Europe s goals of security of supply and sustainability. The Supergrid is a high voltage direct current (HVDC) network connecting offshore and onshore SuperNodes which collect the renewable energy and deliver it to the existing high voltage grid on land. The Supergrid has the technology and scale to harness Europe s abundant offshore wind in the North Sea. It is also capable of being deployed on land where there are gaps in a country s or continent s energy capacity.

22 SUPERGRID Mainstream initiated the setting up of the Friends of the Supergrid (FOSG) in FOSG is a group of twenty-three of the world s leading companies that have come together to promote the policy agenda for a Supergrid in Europe. These companies represent the supply chain for the Supergrid, combining manufacturers of HVDC and related technology, together with companies that will develop, install, own and operate that infrastructure. FOSG contributes regularly to European and National consultations on energy and grid and has been instrumental in shaping the EU vision for the power system of the future. CIVIL ENGINEERING AND MARINE WORKS It has commissioned independent studies on the market and regulatory aspects of future grids and among its many position papers and proposals is a detailed plan for a Phase 1 European Supergrid. Its Roadmap to the Supergrid Technologies is now the document of choice for policy makers and industrialists alike. Its annual conference is a permanent fixture on the energy policy calendar.

23 SUPERGRID Eddie O Connor is known as Mr Supergrid and rightly so because I think he s been a fantastic advocate for the Supergrid. Ed Miliband Leader of the Labour Party (UK)

24 ENERGY BRIDGE Created by Mainstream, Energy Bridge is the groundbreaking solution to the UK s need for large quantities of renewable energy from It involves building 5,000MW of wind power in Ireland which is surplus to the country s own electricity needs and exporting it to the UK starting in The wind farms, which will be located on land as well as in the Irish Sea will generate enough electricity to supply two and a half million homes. The power will be transported by underground cables under the Irish seabed to the UK where it will connect to the National Grid. This once in a lifetime opportunity is a game-changer for both countries. For the UK, Energy Bridge provides access to large amounts of renewable energy and the potential reduction of electricity costs to UK consumers. For Ireland, it is a multi-billion euro export industry which will involve tens of thousands of new jobs and, a project of this magnitude will provide Ireland with the opportunity to build a brand new manufacturing base to support the industry.

25 WHAT OUR PARTNERS THINK National Grid is delighted to be working with Mainstream on the Energy Bridge project. This is a very exciting opportunity to connect consumers and businesses in the UK to lots of renewable energy. Steve Holliday Chief Executive National Grid

26 ENERGY BRIDGE Strong political support for Energy Bridge In January 2013, a Memorandum of Understanding was signed by UK and Irish energy ministers for the export of green energy from Ireland to Britain. Trading power with Ireland could increase the amount of green power in our energy mix and potentially bring down costs for UK consumers. Ed Davey UK Secretary of State for Energy and Climate Change Ireland has the potential to generate far more wind energy than we could consume domestically. The opportunity to export this green power presents an opportunity for employment growth and export earnings which we must seize if we can. Pat Rabbitte Minister for Communications, Energy and Natural Resources

27 Energy Bridge is firmly on track to start exporting wind power from Ireland to the UK from DESK BASED FEASIBILITY LAND AGREEMENTS Successfully completed On track for completion On the transmission side of the project, we achieved two very significant milestones in the delivery of Energy Bridge. In September 2012, Mainstream signed a Memorandum of Understanding with National Grid s Business Development arm and REN of Portugal for the physical transmission system which will export the electricity to the UK. And in January 2013, Mainstream signed a contract with UK s National Grid for 5,000MW to be delivered to the UK National Grid from 2017 to EIA PROCESS (Environmental Impact Assessment) PLANNING APPLICATION CONSTRUCTION On track for completion On track to commence on time On track to commence on time In terms of the wind farm generation assets, we made very strong progress. At the beginning of 2013 Mainstream had secured the majority of the land required for the first 1,200MW phase of the project. Our proposal to landowners was endorsed by the Irish Farmers Association, positioning Mainstream as the preferred farmer s partner and in October 2012 we started extensive bird studies and wind analysis campaigns in the project areas. 6 7 GRID CONNECTION Available April 2017 OPERATION First export 2017 Grid offer received On track to commence on time

28 VALUES Our values are the same in every language We have people on four continents and offices in eight countries. But wherever we are, we all share the same values. We work with communities in different countries, supporting local initiatives in all our markets. Our goal is to be good neighbours wherever we are located, putting into practice our values in our work and with our partners. Safety We believe in a safe environment for our people. Respect We believe in showing personal respect for everyone we deal with. Teamwork We believe that by working together as a team, we deliver more. Entrepreneurial approach We believe that our entrepreneurial approach will find the solutions others can t see. Sustainability We believe in a sustainable approach to everything we do. Innovation We believe that by embracing innovation we will stay ahead of the game.

29 Corporate Social Responsibility Supporting local community initiatives We are committed to getting involved with community initiatives in areas where we are developing our projects. Our goal is to bring a positive and lasting impact to those communities that live in the area that would be impacted by a Mainstream project so they can benefit from this new sustainable infrastructure in a way that makes most sense for them. Forging positive relationships with indigenous communities Our approach is very much based on respect for local cultures and communities. By reaching out, listening and understanding each others needs we are working in unison with native communities in a way which brings positive change in a respectful way. Preparing secondary school students for careers in renewable energy Our SMart Futures initiative in the UK is aimed at encouraging secondary school students to take up science, technology, engineering and maths in order to access long-term careers in the renewable energy sector.

30 I ve always got the feeling that Mainstream people are doing this because they believe in renewable energy. Of course they re here to make money as I am too, but their people have been doing this work a long time, you can tell they enjoy what they do and are good at it. Katherine Vick Landowner

31 Droogfontein solar park (50MW), South Africa

32 Berlin Tel: +49 (0) Cape Town Tel: +27 (0) Chicago Tel: Dublin Tel: +353 (0) Glasgow Tel: +44 (0) Johannesburg Tel: +27 (0) /61 London Tel: +44 (0) Santiago Tel: +56 (2) Toronto Tel: +1 (905) 278 7MRP +1 (905)