Energy Absolute Public Company Limited
1 Over View 2 Our Power Business 3 Our Biodiesel Business 4 Our Financial Results 5 Our Growth 2
E@ at a Glance In 2006 to produce palm oil Established Energy (Renewable and Utilities) Core Business The Stock Exchange of Thailand since 30 Jan 2013 Secondary Market Approximately THB 158.525 billion (US$ 4.8 billion) Market Capitalization Included in the SET50 index since 1 July 2017 As of 16 November 2017 Included in FTSE index since 15 September 2017 Free Float 39.86% Liquidity Closed price : THB/share ‘000 shares 50 450,000 45 400,000 40 350,000 35 300,000 30 250,000 25 Total Volume 200,000 20 Closed Price 150,000 15 100,000 10 50,000 5 0 0 3
Shareholder Structure Mr.Somphote Ahunai Chief Executive Officer Education • MBA from University of Pittsburgh, USA • Bachelor of Engineering from Chulalongkorn University, Thailand As of 14 March 2017 Previous Work • Analyst and Researcher in USA. • Managing Director of a Securities Brokerage company in 40% Thailand 52% • Managing Director of a Renewable Energy company in Thailand 5% * Mr.Amorn Sapthaweekul 3% Somphote Ahunai (CEO) Deputy to CEO and Chief Finance Officer Amorn Sapthaweekul (CFO) BBL AM Education Others • Master of Science from Chulalongkorn University, Thailand • Bachelor of Business Administration Number of Total Shareholders = 8,223 (Finance and Banking) from Thammasat University, Thailand Previous Work • Investment Banker and Financial Advisor, • Director in a Renewable Energy company 4
Opportunity Base on AEDP 2015-2036 Alternative Energy Development Plan : AEDP 2015-2036 source : The Energy Regulatory Commission (ERC) Target of Alternative Energy = 30 % in 2036 Solar Wind Mini Hydro Industrial Waste Hydro Energy Corp 6,000 MW Bioenergy 376 MW 3,002 MW Biofuel 50 MW 2,906.4 MW 680 MW 3,038 MW 48 MW 1,581 MW 37 MW As of August 2017 - Ethanol 11.3 ML/d Biomass Biogas Waste - Biodiesel 14 ML/d 5,570 MW 600 MW 500 MW - CBG 4,800 Ton/d 4,154 MW 484 MW 392 MW - Pyrolysis Oil 0.53 ML/d In order to support investment in alternative energy according to AEDP, BOI has granted tax privilege. Tax exemptions for the first 8 years and half of tax rate for year 9 th to 13 th 0% 50% of normal rate normal rate 5 13 8
Power Production by Source of Energy : Jan-Jun 2017 Total Capacity as of 31 Aug 2017 = 41,923.25 MW In 2017, Peak Demand in EGAT System was on 4 May 2017 at 14:20 = 28,578.4 MW (3.5% lower than peak demand in 2016) According to PDP 2015, in 2036 Total Capacity will be 70,335 MW and peak demand will be 49,655 MW. 6 Source : https://www.egat.co.th
Our Business and Group Structure E@ Bio Diesel Renewable Power Energy Storage EV Charging Solar Power Wind Power Amita Technologies Energy Mahanakorn Inc. Taiwan Co., Ltd. Lopburi Songkhla Shenzhen Growatt New Company Power Technology Nakhonsithammarat Nakornsawan 50 GW Factory Lampang Chaiyaphom R&D Center Phitsanulok 2009 2011 2015 2017 Biodiesel Solar Power Wind Power Energy Storage + EV Charging + R&D for New Business
1 Over View 664 2 Our Power Business MW 3 Our Biodiesel Business 4 Our Financial Results 5 Our Growth 8
Project Pipeline MW 664 F2018 404 278 188 Solar 98 98 42% Wind 8 58% 278 MW 386 MW + 8 MW + 90 MW + 90 MW + 90 MW Solar Nakorn- Phitsanu- Lopburi Lampang sawan lok Had Kanghan 126 MW (Songkhla and Nakornsritammarat ) Wind Hanuman + 260 (Chaiyaphum) MW 9
Electricity Price Structure Ft Baht/ Adder Base 10 years from Tariff Fuel kWh COD Adjustment Charge Solar Solar Wind Peak Time: 8 Bt. 6.5 Bt. 3.5 Bt. Weekdays 09.00 – 22.00 Nakornsawan HKH 1 = 36 mw 4.2243 Bt./kWh -0.159 Bt./kWh 90 mw Until Mar 2027 Until Dec 2023 for Sep – Dec 2017 Off-Peak Time: Lopburi Weekdays Lampang HKH 2&3 = 90 mw 8 mw 22.00 – 09.00 90 mw Until Jun 2027 + Weekend + Holidays Until Oct 2.3567 Bt./kWh Until Feb 2025 2022 Hanuman Phitsanulok Projects 90 mw 260 mw Until Apr 2026 10
Solar Power 278 MW 3 4 Lampang (THB 8.07 bil) Phitsanulok (THB 9.5 bil) Contracted Cap: 90 MW Contracted Cap: 90 MW Installed Cap : 128.396 MW Installed Cap : 133.92 MW Technology: Tracking system Technology: Tracking system COD : 17 Feb 2015 COD : 1 Apr 2016 Land area : 2,354 Rais (930 acres) Land area : 1,800 Rais (732 acres) Adder : 6.50 baht/kwh Adder : 6.50 baht/kwh 2 1 Nakornsawan (THB 6.7 bil) Lopburi (THB 812 mil) Contracted Cap: 90 MW Contracted Cap: 8 MW Installed Cap : 126.126 MW Installed Cap : 9.33 MW Technology: Fixed system Technology: Fixed System COD : 23 Dec 2013 COD : 17 Oct 2012 Land area: 1,858 Rais (735 acres) Land area: 315 Rais (124.5 acres) Adder : 6.50 baht/kwh Adder : 8 baht/kwh 11 Note : 1 acre = 2.529 rais
Wind Power 386 MW 2 Hanuman : HNM (Chaiyaphum) THB 20 bil. Contracted Cap: 260 MW SCOD : 2018 Adder : 3.50 baht/kwh 1 Hadkanghan : HKH Status: During Construction (East Coast Southern) THB 10.4 bil. Seasonal of wind in Thailand Contracted Cap: 126 MW COD : HKH 1 = 36 MW COD 3 Mar 17 HKH 2 = 45 MW COD 10 Jun 17 HKH 3 = 45 MW COD 23 Jun 17 Adder : 3.50 baht/kwh Jan Feb Mar AprMay Jun Jul Aug Sep Oct Nov Dec P90 (Base case) P50 (Best case) 12
Power production of Solar Farms Lopburi 8 MW : COD 17 Oct 2012 Nakornsawan 90 MW : COD 23 Dec 2013 2015 2016 Jan-Sep Jan-Sep 2015 2016 Jan-Sep Jan-Sep Unit : kWh Unit : kWh 2016 2017 2016 2017 Total Power Output 14.6 mil. 13.9 mil. 10.29 mil. 10.03 mil. Total Power Output 189.6 mil. 189.1 mil. 142.72 mil. 140.90 mil. Average Daily Output 39,893 37,867 37,751 36,673 Average Daily Output 520,763 516,755 523,279 517,012 Unit : kWh/day Unit : kWh/day 700,000 50,000 600,000 45,000 40,000 500,000 35,000 400,000 30,000 25,000 300,000 20,000 200,000 15,000 10,000 100,000 5,000 - - JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Daily AVG 2014 Daily AVG 2015 Daily AVG 2014 Daily AVG 2015 Daily AVG 2016 Daily AVG 2017 Daily AVG 2016 Daily AVG 2017 13
Power production of Solar Farms Lampang 90 MW : COD 17 Feb 2015 Phitsanulok 90 MW : COD 1 Apr 2016 2015 2016 Jan-Sep Jan-Sep 2016 Jan-Sep Jan-Sep Unit : kWh Unit : kWh 2016 2017 2016 2017 Total Power Output 191.3 mil. 197.9 mil. 148.97 mil. 155.40 mil. Total Power Output 165.6 mil. 112.04 mil. 170.81 mil. Average Daily Output 601,474 540,737 546,543 570,568 Average Daily Output 602,221 612,097 616,869 Unit : kWh/day Unit : kWh/day 800000 800,000 700000 700,000 600000 600,000 500,000 500000 400,000 400000 300,000 300000 200,000 200000 100,000 100000 - 0 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Daily AVG 2016 Daily AVG 2017 Daily AVG 2015 Daily AVG 2016 Daily AVG 2017 14
Higher Output from Sun Tracking System Installing sun tracking Tracker system is expected to increase power production at 10-15% Fixed Daily Average : kWh 616,869 602,221 700,000 513,695 517,012 600,000 Comparing the actual production 500,000 of our two solar power plants, with and without sun tracking 400,000 system, the power production 300,000 output has increased at 17-19%. The initial investment increased 8% 200,000 100,000 - APR-DEC 2016 JAN-SEP 2017 Nakornsawan Phitsanulok (Tracking) 15
Power production of Wind Farm 126 MW Total Power Output (3 Mar – 30 Sep 2017) 105.105 mil. kWh Average Daily Output (Jul – Sep 2017) 885,187 kWh Average Wind Speed (Jul – Sep 2017) 5.71 M/Sec. Average Power Efficiency (Jul – Sep 2017) 29.27% Average Daily Output – Actual VS Forecast Unit : kWh/day Power Efficiency 40.00% 1,200,000 35.00% 1,000,000 30.00% 800,000 25.00% Daily Average Avg Cap Factor 20.00% 600,000 Base Case 15.00% Best Case 400,000 10.00% 200,000 5.00% 0.00% 0 16 March April May June July August September
Quarterly Power Output Unit : Mil. kWh Total Contract Capacity = 404 MW 250 200 Solar = 278 MW 150 Wind = 126 MW 100 50 Actual production 9M/2017 0 2014 2015 2016 2017 105,105,175 , 18% Q1 Q2 Q3 Q4 477,141,672 , 82% High production from Solar Power Plant is in Q2 and low in Q3 EA’s highest output was in Q3/2017 = 228.46 Mil. Units , resulted from full capacity of solar power and good performance of wind power. 17
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