Greenpower investment

Battery Energy Storage Market in Australia Greenpower Projects in South Australia 澳洲电池储能市场介绍 南澳项目概览 Greenpower Investment Pty Ltd 20 May 2019 Beijing 1 ➢Australian registered company ➢Focusing on VPP technology and distributed energy storage ➢The founders have been Australian citizens for more than 30 years 创始人移居澳洲 30多年 ➢Close working relationships with the governments 深厚的政商关系 ➢Platinum Member of Smart Energy Council 澳洲智慧能源理事会白金级别成员 ➢Currently working on two large battery storage projects 现正在推进两个 大型 电池储能项目 2 澳洲前总理 Mr Turnbull 澳洲总理 Mr Morrison 能源部长 MrTaylor 南澳州长 Mr Marshall Greenpower Investment Pty Ltd Greenpower Investment Pty Ltd 3 Federal Shadow Minister for Energy Mark Butler, and Minister for Industry Kim Carr, held a round table consultation meeting for industrial policy in February 2019. Greenpower was the only China based company invited to the meeting. 联邦影子能源部长 Mark Butler 和工业部长 Kim Carr 于 2019年 2月在国会大厦召开国家能 源产业政策咨询圆桌会议，我公司是唯一有 中国背景的公司受邀参加圆桌会议。 Overview ➢Australian Energy Storage Market ➢Government policy and support ➢Greenpower Energy Storage projects in South Australia ✓Grid Connected BESS: 200MW/100MWh 200MW/100MWh 电网侧储能系统 ✓Residential: Virtual Power Plant (VPP) for 50,000 homes 50,000 户虚拟电网连接的分布式光伏储能项目 4 Overview ➢Australian Energy Storage Market ➢Government policy and support ➢Greenpower Energy Storage projects in South Australia ✓Grid Connected BESS: 200MW/100MWh 200MW/100MWh 电网侧储能系统 ✓Residential: Virtual Power Plant (VPP) for 50,000 homes 50,000 户虚拟电网连接的分布式光伏储能项目 5 Australian Battery Energy Storage (BESS) Market is one of the fastest growing markets in the world 6 BESS deployment in 2017 The List of Large Scale BESS by Smart Energy Council 55 large scale BESS Projects, total 4GWh 7 The full report is available for the interested party 可以向感兴趣的公司提供报告全文 Residential and Commercial BESS could be up to 450,000 units and 3GWh in total by 2020 8 Overview ➢Australian Energy Storage Market ➢Government policy and support ➢Greenpower Energy Storage projects in South Australia ✓Grid Connected BESS: 200MW/100MWh 200MW/100MWh 电网侧储能系统 ✓Residential: Virtual Power Plant (VPP) for 50,000 homes 50,000 户虚拟电网连接的分布式光伏储能项目 9 Australian Government is committed to the Paris Agreement National policy: 50% RE target by 2030 Energy policy including RE target is set by the each state 10 South Australia: Currently using 50% RE, targeting zero net emissions by 2050, 南澳州目前已实现再生能源使用率为 50%,目标为到 2050年 前达到零排放 Federal Government Support – Solar ➢LGC – Large-scale generation certificate Solar installation 100 KW 装机总功率大于 100KW ✓Annual base rebate and reduction year-by-year 每年 派发补贴 , 逐年递减 ✓For example, in 2018, installing 1MW solar farm can receive $49,640 Federal Government rebate 如 2018年，每 1兆瓦的光伏电厂可获取联邦政府 49,640澳元的政策补贴 ➢STC – Small-scale Renewable Energy certificates Solar installation $14,000/MWh (a few events per year) 合约 :当电网处于断电边缘时 ,电价超过 $14,000/MWh, 必须能 提供 70KW/30KWh的电力 ➢Neoen Wind Farm uses: 30MW/99MWh (0.303C) 风电场平时使用 30MW/99MWh ➢Powerpack life span: 15 years 16 Tesla Hornsdale Power Reserve (HPR) in South Australia FCAS performance 辅助调频 性能 ➢Chart: The battery responded accidental trip of generation in NSW ➢Tesla项目在 2017年 12月 18日响应 一次来自新南威尔士州电网事故时 的调频调度实况 ➢AEMO Report confirmed the BESS has excellent FCAS performance AEMO报告确认储能系统的辅助调 频性能优异 17 Income Stream breakdown 12 month, 2018 Income Stream Actual Income, AU$ million FCAS Service 辅助调频服务 15.7 Energy Arbitrage 峰谷套利 3.3 Government Contract政府合约 4.0 Others 其他 2.5 Total 25.5 18 ABC News Report: The total investment was $90 million, net income was $25.5 million; Smart Energy Council estimate: The project payback period is 2.8 years ABC报告：项目总投资 9000万澳元，第一年净利润 2550万澳元 澳洲智慧能源理事会估算：项目收回投资周期为 2.8 年 HPR Net income breakdown, in first 12 months Tesla HPR项目前 12个月净收益来源分析 Greenpower Investment’s Project in South Australia 200MW/100MWh Grid Connected BESS 19 Greenpower Investment Project in South Australia 200MW/100MWh Grid Connect BESS 南澳州的 200MW/100MWh的电网侧储能项目 The BESS Project ➢Greenpower is the project developer ➢Project is supported by SA Government ➢Project scope: ✓200MW/100MWh LFP Battery, 2C system 2C充放电 倍率 ✓Location: Templers West substation, directly connects to 275KV grid 直联 275KV电网 ✓Operates on AEMO wholesale National Energy Market 在 AEMO上交易 ✓Major Income: FCAS and Energy Arbitrage 主要收入 来源为辅助调频 服务 及峰谷套利交易 20 The BESS opportunities in South Australia ➢Solar and wind are becoming major energy sources in SA 光伏及风能正成为 南澳州的主要电力来源 ➢SA Government supports the Large Scale Energy Storage System investments and provides $50 million GSSF, ARENA provides $110 million supporting funds 南澳州政府 设置 5000万澳元基金， ARENA1.1亿澳元基金支持 ➢Tesla’s HPR project has successfully proven that both large scale BESS technical performance and financial returns are possible Tesla HPR项目已经为大型储能项目的技术及投资回报提供了例证 ➢北控清洁能源南澳项目 - 70MW solar farm and 150MWh BESS project in SA Energy Mix – Renewable 48.5% 7 Days Actual: 7/14 April 2019 21 FCAS Market 辅助调频市场 ➢High volatility 不稳定性高 ➢$15 million per 4 weeks in average 平均每 4周 1500万澳元 ➢FCAS/Spot Market = 1.8% 22 Year FCAS Market Value, $ million 2016 123 2017 214 2018 217 Average 185 Source: Greenpower Investment Pty Ltd Arbitrage 峰谷套利交易 Based on past 19 years data analysis 基于过往 19年的数据分析 Average daily net earning of 6 x 5 mins (30 mins) dispatch 按照 6×5分钟的调度模式，平 均每天的净收益情况 Average Daily Earning (2C and 30 mins): $400/MWh/Day 按照 2C系统及 30分钟模式计算， 平均收入为 400澳元 /MWh/天 2C Battery has higher daily earning than 1C Battery 2C电池每天获利表现优于 1C电 池 23 Source: Greenpower Investment Pty Ltd 0.5C 1C 2C Capital Structure of the Project 项目 融资 结构 24 Source of Funds AU$ million SA GSSF and ARENA ARP Funds 州政府及 ARENA扶持 基金 20 CEFC (Clear Energy Financial Corporation) Loan* 清洁能源基金会低息贷款 30 Commercial Bank Loan 商业银行贷款 20 PE Investment 私募股权投资 50 Total 120 *CEFC: low interest loan – 3.5% interest rate Income Estimation and Payback Period 收入预计及回报周期 25 Income Stream AU$ million FCAS Service 辅助调频 12 Energy Arbitrage 套利交易 10 Others 其他 5 Total 27 o Base on the Capital Structure and Income Estimation, the project payback period could be within 3 years 根据资本结构及收入预计，项目回报周期会在 3年 以内 o Greenpower welcomes potential investors and system providers to participate project 欢迎国内潜在 的投资者及系统供应商参与项目 project Schedule ➢Scope of supply ✓EPC and project management ✓Battery System ✓Container (40ft) ✓PCS 变流系统 ✓EMS 能量管理系统 26 Project Milestone Key Date Project application filing Feb 2019 Receive SA GSSF and ARENA funding May 2019 Invitation for expression of interests June 2019 Invitation for tender of supply Aug 2019 Completion of financing Sept 2019 Finalise commercial contract of supply Nov 2019 System assembly and pre-shipment testing Mar 2020 Site preparation and construction Mar 2020 System installation June 2020 System commissioning Aug 2020 Connect to grid Sept 2020 System handover for operation Dec 2020 • Greenpower will consign the reputable institution to manage the EOI and Tender process 指定权威机构负责开展意向书征集和招标管理 • Greenpower will recruit qualified project managers and engineers to join the project from PRC and potentially sponsor immigration status after two years 招聘国内合格的项目经理和工程师，来澳洲工作二年并且有机会获得雇主担保移民 Virtual Power Plant (VPP) 虚拟电网 Distributed Energy Resource (DER)分布式能源 Greenpower’s Project in South Australia VPP for 50,000 Homes 50,000户家庭虚拟电网连接的分布式光伏储能项目 27 South Australia has the highest residential retail electricity price in the world 南澳 是 全球户用电费最 昂 贵的地区 28 Tesla signed the VPP project with SA Government in 2018 Tesla与南澳政府于 2018年 签订了虚拟电网的项目 ➢ Successful trial of 100 homes100户测试已经成功 ➢1000 homes trial is in progress 正在 进行 1000户的测试 29 A U S T R A L I A H A S H I G H S O L A R I R R A D I AT I O N 30 Australia has rich sunlight 1KW Solar PV can produce 4KWh electricity per day 1KW的光伏板每天可产出 4KWh的电力