BGRIM: Investor Presentation for Q2’2019 August 2019
Agenda 4 HIGHLIGHTS BGRIM UPDATE Q2’2019 OPERATING RESULTS Q 2’2019 BGRIM INVESTOR PRESENTATION Q3’2018 UPDATE Q3’2018 OPERATING RESULT BGRIM OVERVIEW 1
BGRIM: Q2’2019 highlights ◼ MW Growth ◼ Revenue Growth Synchronized additional 10 MW • 3 COD projects during June 1-13, • from Industrial users (IUs) in adding installed capacity of 692 MW Rayong and contributing revenue of THB 191 million in Q2’19 ◼ Awards ◼ Profit Margin Enhancement ▪ Completed THB 2 .2 Awarded The Green Financing billion debt • of the Year from The Asset refinancing of Solar projects to save Triple A Asia Infrastructure Awards interest of 2.0% p.a. or THB 119 2019 million throughout the project life ▪ Significant efficiency improvement at ABP3, thanks to LTSA with Siemens Q 2’2019 BGRIM INVESTOR PRESENTATION Q3’2018 UPDATE Q3’2018 OPERATING RESULT BGRIM OVERVIEW 2
Achieved COD 3 projects on schedule and within budget June 10 COD DT1 - June 3 June 1 June 10 2019 DT2 - June 13 Nam Che 1 Phu Yen TTP DT1&2 Capacity: Installed - 420 MW dc Capacity: Installed - 257 MW dc Capacity: Installed - 15 MW Contract - 350 MW ac Contract - 214 MW ac Tariff: 6. 5 0 Cent USD per kWh Tariff: 9.35 Cent USD per kWh Tariff: 9.35 Cent USD per kWh EDL PPA: 15 MW / 25 Years EVN PPA: 420 MW / 20 Years EVN PPA: 257 MW / 20 Years BGRIM Holding: 72.0% BGRIM Holding: 55.0% BGRIM Holding: 80.0% Q 2’2019 BGRIM INVESTOR PRESENTATION Q3’2018 UPDATE Q3’2018 OPERATING RESULT BGRIM OVERVIEW 3
Updated Vietnam Solar Projects Operation Sales to EVN (THB) 2019 COD June July DT1 (180 MW) - June 3, 2019 DT1&2 (420 MW) 153,463,450 114,767,474 DT2 (240 MW) - June 13, 2019 Phu Yen TTP June 10, 2019 68,659,479 87,768,327 (257 MW) Phu Yen TTP (Phu Yen) Tuy Hoa Substation Quang Ngai city, Nha Trang city DT1&2 (Tay Ninh) (The tourist destination of Vietnam) (220 kV EVN transmission line) Binh Long Substation Binh Long Province (220 kV EVN transmission line) Tay Ninh Substation Ho Chi Minh city (The biggest demand of electricity in Vietnam) (220 kV EVN transmission line) Tay Ninh Province Q 2’2019 BGRIM INVESTOR PRESENTATION Q3’2018 UPDATE Q3’2018 OPERATING RESULT BGRIM OVERVIEW 4
BGRIM: 2H’2019 outlook ◼ MW Growth ◼ Revenue Growth Fully recognize revenue from all Scheduled COD of Interchem ▪ ▪ new projects with total capacity with 5 MW capacity at the end of 816 MW added in 1H’19 of December Synchronize up to 11 MW from ▪ new IU customers in Rayong ◼ Profit Margin Enhancement ◼ Awards • Apply LTSA with Siemens to Received the ESG 100 ▪ upgrade one gas turbine of certificate for two consecutive ABP5, to improve heat rate, years for excellent performance shorten maintenance periods in sustainable development and add more MW Q 2’2019 BGRIM INVESTOR PRESENTATION Q3’2018 UPDATE Q3’2018 OPERATING RESULT BGRIM OVERVIEW 5
Agenda 4 HIGHLIGHTS BGRIM UPDATE Q2’2019 OPERATING RESULTS Q 2’2019 BGRIM INVESTOR PRESENTATION Q3’2018 UPDATE Q3’2018 OPERATING RESULT BGRIM OVERVIEW 6
Well-Diversified Portfolio with Expert in Green-Field Developer SPP – INDUSTRIAL ESTATE 69.5% RENEWABLE GROUP 30.1% Gas Fired Waste to Energy (IWTE) Wind Group WHA (Map Ta Put) 5 MW 16 MW 140 MW 0.5% 1.6% (Under Development) (Including SPP1 Replacement) (Under Development) Amata City (Chonburi) WHA Chonburi 1 675 MW 13.6% Hydro Group 130 MW (Including ABP1&2 5.8% 6.2% Laem Chabang 133 MW Replacement 140 MW each) 196 MW ( 98 MW Under Development ) (Including BPLC1 29.9% 8.7% Total 975 MW Replacement 140 MW) Solar Group In Operation 822 MW 842 MW* Total 2,257 MW 10.1% Bangkadi In Operation 2,022 MW* 229 MW 84.3% 10.6% Installed MW Equity MW BGPR1&2 240 MW Type of 28.7% Total In Total In % % Energy (Under Development) Capacity operation Capacity operation Amata City (Rayong) 647 MW Gas 69.5% 2,257 MW 2,022 MW 1,202 MW 1,587 MW 70.2% fired *Up to 280 MW 133 MW 4.1% 95 MW 4.2% Hydro 35 MW 25 MW TRANSMISSION & DISTRIBUTION 0.4% Diesel 25.3% 24.7% Solar 822 MW 822 MW 557 MW 557 MW Wind 16 MW 0.5% 15 MW 0.7% IWTE 5 MW 0.1% 2 MW 0.1% Bien Hoa 13 MW Poi Pet PPSEZ 14 MW** SOLAR ROOFTOP 0.4% 0.2% Solar rooftop for industrial Diesel 13 MW 13 MW 4 MW 4 MW users and commercial buildings with up to 100 MW Total 3,245 MW 100% 2,892 MW* 2,260 MW 100% 1,788 MW* opportunity** *As of July 2019 Q 2’2019 BGRIM INVESTOR PRESENTATION **Transmission & distribution and solar rooftop are not included in total installed capacity 7
Long-Life PPA and Benefit from Well-Establishment of PPA 2019 SALES AND SERVICE INCOME BY CUSTOMER WEIGHTED AVERAGE REMAINING PPA LIFE Track Record of EVN Extensions 1% Steam-TH Others 2% 3.4% 24.6 22.4 Years IU-VN Years 19.9 18.6 Years 3% Years 15.0 Years 8.9 IU-TH Years 24% EDL PEA / MEA EVN EGAT Industrial users - electricity THB 21,123 mm (Thailand) 6M’2019 LONG-TERM PPA STRUCTURE Sales and Service Income • EGAT : 21 to 25 years tenor with take-or-pay structure • PEA : 25 years tenor (VSPP of solar, wind, waste to energy) • Industrial Users : up to 15-year tenor with track record of EGAT extensions 66% Secured Gas Supply with PTT covering respective PPA tenors Gas price pass-through at contracted heat rate under EGAT PPA Note : Weighted Average Remaining PPA life is calculated as the average remaining contractual term remaining from 30 June 2019 to expiry weighted by the aggregate contracted capacity under the relevant agreement Q 2’2019 BGRIM INVESTOR PRESENTATION 8
Delivery of Reliability in Form of Electricity and Steam FOOTHOLD IN TOP INDUSTRIAL ESTATES WITH SELECTED TOP IU FOR ELECTRICITY AND STEAM MULTIPLE OF GENERATING UNITS IN EACH LOCATION Laem Chabung VIETNAM WHA ▪ 2 power plants Chonburi 1 ▪ 159 MW ▪ 5 generating units ▪ 1 power plant LAOS ▪ 130 MW ▪ 3 generating units Amata City Chonburi ▪ 5 power plants Bangkadi ▪ 732 MW THAILAND ▪ 17 generating units ▪ 2 power plants ▪ 229 MW ▪ 6 generating units Poi Pet PP SEZ CAMBODIA BGPR1&2 Amata City ▪ 2 power plants Bien Hoa ▪ 240 MW ▪ 6 generating units ▪ 1 power plant ▪ 13 MW WHA Eastern Amata City (Map Ta Phut) Rayong ▪ 2 power plants ▪ 5 power plants ▪ 124 MW ▪ 647 MW ▪ 4 generating units ▪ 15 generating units Gas-fired cogeneration power plants Transmission and Distribution Q 2’2019 BGRIM INVESTOR PRESENTATION 9
Expanding Renewable Power Rapidly in the Region Nam Khao VIETNAM ▪ 5 power plants ▪ 67.5 MW Nam Che 1 Tadsakoi ▪ 1 power plant LAOS ▪ 15 MW ▪ 1 power plant ▪ 30 MW TPS Com. XXHP ▪ 1 power plant ▪ 1 power plant ▪ 8 MW ▪ 20 MW THAILAND Bo Thong BGPSK ▪ 2 power plants ▪ 1 power plant ▪ 16 MW ▪ 8 MW BGYSP ▪ 8 power plants ▪ 60 MW CAMBODIA Interchem Phu Yen TTP ▪ 1 power plant ▪ 1 power plant ▪ 5 MW ▪ 257 MW Solar WVO-Coop DT ▪ 7 power plants ▪ 31 MW ▪ 1 power plant ▪ 420 MW S olarwa ▪ 5 power plants ▪ 39 MW Solar power plants Hydro power plants 10
Robust Growth Pipeline with Promising on Execution ACHIEVED COD IN TIME AND WITHIN BUDGET Gas 2025 Solar 2024 2023 IWTE 56 2022 54 53 Hydro Plants Plants 52 Plants Wind 2021 Plants 3,245 MW 3,215 MW 3,200 MW 2020 Installed Capacity 50 Installed Capacity 3,193 MW 2021 2019 Installed Capacity Plants 48 Installed Capacity 46 Plants Plants Plants 3,152 MW BPLC1 2,912 MW Installed Capacity Replacement 2,896 MW (140 MW)* Installed Capacity 2018 Installed Capacity 40 ABP1 Replacement Plants SPP1 Nam Khao 1 (140 MW)* (2 plants - 124 MW) Plants (15 MW) 2,076 MW Nam Che ABP2 Installed Capacity (15 MW) Nam Khao 4 Nam Khao 5 Replacement SPP1 Extension (15 MW) (8 MW) (140 MW)* (2 plants -124 MW) Nam Khao 2 DTE (15 MW) Bo Thong 1 & 2 (1 plants - 420 MW) SPP1 (2 plants - 16 MW) ABPR3, ABPR4 BGPR1, BGPR2 Replacement & ABPR 5 Phu Yen TTP (2 plants -140 MW)** (2 plants -240 MW) (3 plants - 399 MW) (1 plants - 257 MW) Nam Khao 3 ABP1 Extension (15 MW) Solar (166 MW) WVO-Coop (7 plants - 31 MW) Tadsakoi Interchem (30 MW) (5 MW) 2,238 MW 2,260 MW 1,217 MW 1,850 MW 1,865 MW 2,105 MW 2,222 MW 2,227 MW Equity Capacity Equity Capacity Equity Capacity Equity Capacity Equity Capacity Equity Capacity Equity Capacity Equity Capacity *Up to 150 MW, **Up to 280 MW Q 2’2019 BGRIM INVESTOR PRESENTATION ***Based on our projections and may subject to change depending on project suitability 11
Diligently Invest in Suitable Opportunities via Strong Networks KOREA 100 MW solar rooftop opportunities 1.8 MW COD achievement and 12 MW under construction which target COD in 2019. LAOS Mutual Cooperation Meeting with KEPCO PHILIPPINES Strengthening the cooperation and implementation of energy storage system and smart grid technology THAILAND VIETNAM CAMBODIA MOU signing with LG Chem Cooperation with LG Chem, world leader in fields of energy storage system (ESS), automotive batteries and mobile batteries, May for the development in energy storage Gas system. Solar Wind MALAYSIA Hybrid June Hydro Determine target KPI Transmission and Distribution System (T&D) Q 2’2019 BGRIM INVESTOR PRESENTATION 12
Recommend
More recommend
