Energy Absolute Energy for Future
AGENDA Over View 1 Our Power Business 2 Our Biodiesel Business 3 Our Growth 4 Our Financial Results 5 2
at a Glance Established In 2006 to produce palm oil Core Business Energy (Renewable and Utilities) Secondary Market The Stock Exchange of Thailand since 30 Jan 2013 Approximately THB 188.37 billion (US$ 5.88 billion) Market Capitalization As of 17 th May 2019 FTSE Global 1 Jul 2017 18 Oct 2018 15 Mar 2019 Credit Rating Corporate rating : A CG Rating Excellent Closed price : THB/share ‘000 shares 80 250,000.00 70 200,000.00 60 50 150,000.00 40 100,000.00 30 20 50,000.00 10 0 0.00 3 3-Jan-18 3-Feb-18 3-Mar-18 3-Apr-18 3-May-18 3-Jun-18 3-Jul-18 3-Aug-18 3-Sep-18 3-Oct-18 3-Nov-18 3-Dec-18 3-Jan-19 3-Feb-19 3-Mar-19 3-Apr-19 3-May-19
Shareholder Structure At the End of 2018 Mr.Somphote Ahunai Others, 21% Chief Executive Officer Somphote Education Ahunai (CEO), 44% • MBA from University of Pittsburgh, USA • Bachelor of Engineering from Chulalongkorn University, Thailand Previous Work • Analyst and Researcher in USA. Foreign Juristic, • Managing Director of a Securities Brokerage company in Thailand 19% • Managing Director of a Renewable Energy company in Thailand Thai Juristic, 7% Amorn Mr.Amorn Sapthaweekul Sapthaweekul Deputy to CEO and Chief Finance Officer (CFO) , 4% Domestic Fund, 5% Education • Master of Science from Chulalongkorn University, Thailand • Bachelor of Business Administration Number of Total Shareholders = 19,732 (Finance and Banking) from Thammasat University, Thailand Free Float = 39.87% Previous Work • Investment Banker and Financial Advisor, • Director in a Renewable Energy company 4
Our Business & Group Structure “A leader in alternative energy business, by using the modern technology and environmentally friendly” 2009 2011 2015 2016 2017 2018 2019 Biodiesel EV Car & Electric Ferry Solar Power Wind Power Energy EV Charging B100 Green Diesel & Storage Glycerin PCM Renewable Power Plant 5
AGENDA Over View 1 Our Power Business 2 Our Biodiesel Business 3 Our Growth 4 Our Financial Results 5 6
Renewable Power Business : Started from a small 8-MW solar power plant then gain knowledge to develop higher technology MWh 800 Solar Wind 664 600 386 404 404 Solar 400 42% 664 126 126 278 Wind 278 MWh 58% 188 200 386 MWh 98 98 278 278 278 8 0 2012 2013 2014 2015 2016 2017 2018 2019 + 8MW + 90MW + 90MW + 90MW + 126MW + 260MW Lopburi Nakornsawan Lampang Phitsanulok Had Kanghan Hanuman (Chaiyaphum) (Songkla & Nakornsri tammarat) 7
Electricity Price Structure Ft Base Adder * Baht/ Fuel 10 years Tariff kWh Adjustment from COD Charge Solar Wind Peak Time: -0.116 Bt./kWh Weekdays 8 Bt. 6.5 Bt. 3.5 Bt. For May – Aug 2019 09.00 –22.00 4.2243 Bt./kWh Lopburi Nakornsawan HKH 1 = 36 MWh 8 MWh 90 MWh Until Mar 2027 Off-Peak Time: Until Oct 2022 Until Dec 2023 * After 10-year of adder period, the price structure Weekdays 22.00 – 09.00 will be Base Tariff + Ft. Lampang HKH 2&3 = 90 MWh + Weekend + Holidays 90 MWh Until Jun 2027 2.3567 Bt./kWh Until Feb 2025 Phitsanulok HNM 1&8 = 90MWh 90 MWh until Jan 2029 Until Apr 2026 HNM 5&9 = 90MWh until Mar 2029 HNM 10 = 80MWh until Apr 2029 8
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 9 1 acre = 2.529 rais
Wind Power 386 MW 1 2 Hadkanghan : HKH Hanuman : HNM (East Coast Southern) (Chaiyaphum) THB 10.4 bil. THB 20 bil. Contracted Cap: 126 MW Contracted Cap: 260 MW COD : COD : HKH 1 = 36 MW COD 3 Mar 17 HNM 1&8 = 90 MW COD 25 Jan 19 HKH 2 = 45 MW COD 10 Jun 17 HNM 5 = 48 MW COD 22 Mar 19 HKH 3 = 45 MW COD 23 Jun 17 HNM 9 = 42 MW COD 30 Mar 19 Adder : 3.50 baht/kwh HNM 10 = 80 MW COD13 Apr 19 Adder : 3.50 baht/kwh Project Specification : Technology from Project Specification : Technology from Vestas, Denmark Siemens Gamesa, Spain 70 sets of Wind Turbine 103 sets of Wind Turbine Generator at 1.8 MWh each Generator at 2.5 MWh each Hub height 137 m. Blade length 51 m. Hub height 153 m. Cut in wind speed = 3 m/sec Blade length 63 m. 10 Cut in wind speed = 3 m/sec
Output from power production Total Capacity : YOY Mil.KWh 1000 750 292 181 500 618 602 561 250 395 98 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 154 0 P90 (Base case) P50 (Best case) 2015 2016 2017 2018 Q1/2019 Total Capacity : QOQ In Q1/2019 : Total power output = 251.29 million kwh. increased from Q1/2018 = Mil.KWh 31.51 million kwh. 300 Power production output from Wind Power Plants increased 45.37% from Q1 last year due to delaying of monsoon that normally occurs at the end of year (Dec) to 200 98 116 82 67 48 60 20 76 3 the beginning of this year (Jan), and additional output from HNM 1, 5, 8 and 9 100 168 which started commercial operation in Q1 this year. 163 162 153 151 154 147 141 136 Power production output from Solar Power Plants stayed at the same. 0 Q1/17 Q2/17 Q3/17 Q4/17 Q1/18 Q2/18 Q3/18 Q4/18 Q1/19 11 Solar Wind
AGENDA Over View 1 Our Power Business 2 Our Biodiesel Business 3 Our Growth 4 Our Financial Results 5 12
Biodiesel Production Mil.Ltr. 188 200 175 174 158 152 150 134 100 50 50 0 2013 2014 2015 2016 2017 2018 Q1/2019 Kabinburi Industrial Estate, Prachinburi Location under BOI promotion & privileges • Biodiesel 800,000 Liters per day Plant • Pilot production of green diesel/PCM 1 Ton per day Capacity • Refined Glycerin 80 Tons per day (by product) • B100 volume in Q1/2019 = 50.18 mil.liters increased 15.72% but average price decreased 19.98% due to over supply of raw material and high competition. • Blending of B100 to high speed diesel = 7% Add a footer 13 • Glycerin volume in Q1/2019 = 3.8 mil.kg. increased 15.29% price decreased 35.26% due to high competition
Started from B100 and pure glycerin then expand to higher value products, Green Diesel and PCM : Total feed capacity 130 tons/day Total Investment of New Plant in Rayong THB 1 bil. BioPCM works as a thermal storage battery and is pre-frozen or warmed for a particularly hot or cold evening . Phase I : = 65 tons (feed)/day to be completed within 2019 Phase II : To be completed within 2020 PCM Green Diesel & PCM Production Advance product of biodiesel CPO Green Diesel Enhancing diesel engine capacity Purification Sell to major oil refinery companies B100 B100 & Glycerin Production Sell to pharmaceuticals , Glycerin Cosmetics, Personal products 14
AGENDA Over View 1 Our Power Business 2 Our Biodiesel Business 3 Our Growth 4 Our Financial Results 5 15
New chapter of EA “A leader in alternative energy business, by using the modern technology and environmentally friendly” 2009 2011 2015 2016 2017 2018 2019 Biodiesel EV Car & Electric Ferry Solar Power Wind Power Energy EV Charging B100 Green Diesel & Storage Glycerin PCM Renewable Power Plant 16
Start investing in energy storage business : Amita Technologies Inc. 17
Investment in Amita 77.21% 69.19% 50.69% 35.20% Jan 2017 Nov 2017 Apr 2018 Nov 2018 Voluntary Offer shares Subscribed newly shares EA subscribed new shares EA acquired shares from Taiwan Emerging Market from general shareholders from capital increase, both of its proportion and proceed for capacity the unsubscribed RO expansion. 17.68 mil.shares 7.78 mil.shares 9.70 mil.shares 40.94 mil.shares @35 = NTD 618.92 mil. @35.20 = NTD 273.87 mil. @80 = NTD 775.84 mil. @28 = NTD 1,146.45 mil. (THB 685.91 mil.) (THB 301.27 mil.) (THB 844.11 mil.) (THB 1,261 mil.) Technical Support from Strategic Partners 18
Patents & Certificates Add a footer 19
50 GWh Energy Storage Factory 1 GWh Total of 50 GWh 2018-2019 Q1/2020 2021 Phase I : EA group Phase I : Phase II : Partnership Start developing of Start commercial operation investment of 49 GWh worth 1 GWh worth THB 5 bil. THB 98 bil. The production in Phase II to reach the The production in Phase I at 1 GWh will be served total of 50 GWh will cover to all to power plant to stabilize the system and to products of EA group. electric vehicle i.e. car and ferry. 20
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