Absolute Clean Energy Public Company Limited Analyst Meeting Q1’2020 Ticker: ACE (SET100)
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Table of Contents for Analyst Presentation Business Updates I Operating performance II Financial Highlights III 3 Strictly Private & Confidential
Business Updates
Q1’20 Key Highlights : Key Events in Q1’20 + Events after the reporting date Project Under Construction MSW Krabi 5 MW Solar Rooftop(ACE Solar) 0.83 MW Waste landfill Project, Udon Thani Q1’2020 Status Q1’2020 Status Q1’2020 Status /1 32% 37% 92% Expected operate Q3’2020 Expected COD Q1’2021 Currently in operation Capital Structure • January 2020 : EXIM refinance ABA’s project loan at Prime rate -2.5% • February 2020 : AAA’s loan contract revision 1) PN at MLR -2.5% till 2021 2) Loan at MLR -2.5% from 2022-2023 and MLR -1.5% throughout loan term • June 2020: ACE included in SET 100, FTSE SET Mid Cap and FTSE SET Shariah indexes. • Other related event : 10 April, SCB decrease MLR rate to 5.375% 22 May, SCB decrease MLR rate to 5.25% Insurance Claim During the period ended 31 March 2020, an indirect subsidiary received claims from an insurance company totalling Baht 171.95 million. The compensation claim was for the event of damaged machinery during the test run (Commissioning & Test Run) of a power plant in 2016 for which the machinery has been restored to normal operating conditions /2 . 5 Strictly Private & Confidential Remark: /1 Current status is 47% /2 The powerplant did go into commercial operation on schedule
ACE’s Key Development Milestones “To be the world practical model of Clean energy powerplant, which is responsible for environment, society, and shareholders” 2024: Expected to secure an installed capacity of 1,000 PPA MW 2019: 2017: 2016: 2012: and becomes Listed in Stock Won and secured 4 First COD of VSPP First COD of VSPP Thailand’s largest Exchange of SPP Hybrid Bidding “ALCP” MSW Power “ACP1” Biomass biomass power Thailand of total 93 capacity Plant Power Plant producer MW 1979 /1 (40 years 2015: 2017: 2018: 2022: ago): Shaiyo Triple Established First COD of SPP First COD of VSPP Estimated to “AAA” Cogeneration A Group Absolute Clean Solar Rooftop COD all Board of directors Energy (ACE) as a Power Plant projects /2 have experienced to Holding Company (421.37 MW) /3 lead rice, corns, with initial paid-up cassavas and capital of THB 0.5 woodchips producer mm. ACE’s Total Capacity MW /3 over time and exporter, has expertise in agriculture industry 1,000 Unit: MW and R&D in the fast growing tree and intrigued in exploring the energy sector. 421.37 421.37 421.37 214.47 210.5 212.2 209.5 85.2 2016 2017 2018 2019 2020 2021 2022 2024 Remark : /1 http://www.saaa.co.th/SAA_ENG/home.php /2 Estimated timeline: Currently, Arbitration result states that PEA has to return PPA to ACE and with the assum ption that normally power project’s 6 Strictly Private & Confidential construction period is approx. 2 years /3 Including APP’s capacity MW of 9.9, Currently, APP’s shareholders sent LOI for APP share purchase proposal to ACE
Overview of ACE’s Portfolio A ACE Business Portfolio in Thailand Power Type Biomass Co-generation MSW Solar ACE’s Holding 100.0% 100.0% 100.0% 100.0% 100.0% Stake in Projects COD: 15 Existing + Pipeline 9+1 4+1 /1 1+0 1+1 4+2 Pipeline: 18 /1 Projects Total: 33 /1 Capacity MW COD: 213.01 1.46 89.1 5.0 (Total Capacity 114.35 Pipeline: 208.36 6.0 /1 3.56 201.9 MW) Total: 421.37 Total: 291.0 /1 Total: 114.35 Total: 11.0 Total: 5.02 PPA MW to 72 1.46 COD: 170.06 4.4 90 4.5 /1 Pipeline: 170.17 Government & IU 164.31 3.56 (Total PPA MW) Total: 340.23 Total: 236.31 /1 Total: 90 Total: 8.9 Total: 5.02 /2 Existing Under Development + Pending for Development 7 Remark: /1 Including APP’s capacity MW of 9.9. Currently, APP’s shareholders sent LOI for APP share purchase proposal to ACE Strictly Private & Confidential /2 Electricity Sale Agreement (ESA) with IU
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