Strictly Private and Confidential Strictly Private and Confidential OPPORTUNITY DAY 5 June 2015 OPPORTUNITY DAY 5 June 2015 Synergizing Power & Utilities for the Global Future 0 Synergizing Power & Utilities for the Global Future 0
Strictly Private and Confidential Strictly Private and Confidential OPPORTUNITY DAY 5 June 2015 OPPORTUNITY DAY 5 June 2015 Synergizing Power & Utilities for the Global Future 0 Synergizing Power & Utilities for the Global Future 1
Agenda Section 1: GPSC Overview Section 2: Highlights Q1’2015 Section 3: Financial Performance Section 4: Going Forward 2
From Past to Future 1997 - 2012 2013 2013-2014 2015 The Quest for Growth GPSC Operating Asset Defragmentation Restructuring and Recapitalization Power Flagship On 10 th Jan 2013, PTT consolidated all its Dec 2013 – Dec 2014, 7+1 PTT’s power Strategic Direction Sriracha Power Plant (700 MW) (Independent Power (Thailand)) assets were transferred to GPSC ramping power asset under GPSC, creating power up GPCS’s effective equity MW. Growth along with • established on 18 Nov 1997 at Chonburi flagship with 8,630 THB MM registered PTT Group Province. IPT has been selected by EGAT capital at the date of amalgamation. On 19 Dec 2013, GPSC raise additional to build and operate combine cycle plant capital through Right Offerings (RO). • Quick Win under IPP program (700 MW) PTT’s Power Flagship Big Wing • 56% 20% 24% • Adjacent & 100% 40% 100% Support CHPP TSR NSC (5 MW) Opportunities 100% 25% 51% IRPCCP SSE XPCL 30.1% 30.31% 11.88% 27.71% (240 MW) (80MW) (1,285MW) 30% NNEG 40% Rayong Power Plant (339 MW, steam NL1PC (125MW) (65MW) 1,340 T/hr) PTT Utility Company Limited 25% BIC2 BIC1 Established on 13 Jul 2004 at Rayong (117MW) (117MW) Province.. This power plant serve PTT group 15% RPCL IPO 374.575 and other industrial user in industrial estate. (1,400MW) million shares Combined Heat and Power with District Cooling Power Plant Assets or Solar Farm Assets 25% of total Hydro Power Assets 40% 60% post-IPO Other Investments shares Increase MW capacity Effective MW: 1,851 MW Effective MW: 1,039 MW to 2,815 in year 2019 (operating phase 1,315 MW) Project Capacity: 4,473 MW 3
Key Strengths • Conventional Power Business Portfolio • Renewable and Hydro Power Business Diversification • Develop, Invest and Operate in Power Business Domestically and Internationally • Key shareholders, PTT and PTT Group, are strong investment Strong grade credits. Shareholders • They provide strong support (managerial and technical) to GPSC Long-term • EGAT and PTT Group are the major off-taker for electricity constructional produced by GPSC under long term cost-plus based Power Purchase Agreements earning • Approx. 30% of the net profit after taxation with a steady Dividend Policy increase of the Baht per share payment over time. • GPSC is expected to gain another 1,000 MW during this year to Growth Company 2019 • Strong Cash Flow and Financial Strength 4
Business Portfolio Capacity Electricity Steam Chilled Water 11.88% 30.10 % 30.31% 27.71% Industrial Water Under construction Total Equity Capacity : Electricity ~1,872 MW Rayong and Sriracha : Steam ~1,512 T/H 1 ,039 MW : Industrial water ~2,080 Cu.m./H 1,340 T/H : Chilled water ~12,000 RT 2,080 Cu.m./H Combined Cycle / Solar Energy Hydroelectric Power Plant Power Plant Cogeneration Power Plant Other Businesses 53 MW 347 MW 433 MW 172 T/H 12,000 RT Operating* 40% 100% 100% 25% 5 MW Natee Synergy Co., Business Services Ltd. Alliance Co., Ltd. 12,000 RT Operating 25% SCOD: 2019 SCOD: 2017 Sport Services 100% 51% 100% 240 MW Alliance Co., Ltd. 300 T/H 1,285 MW 80 MW SCOD: 2016 1 7 % 30% 99% SCOD: 2017 24M Technologies, Inc. 125 MW 40% SCOD: 2017 65 MW 30 T/H 20.8 MW SCOD: 2017 Operating 25% MW Capacity 117 MW Acquisition 117 MW Q1’15 20 T/H 20 T/H Operating 15% 1,400 MW - T/H Note: *CHPP currently operates only Electric Chiller 5
Sriracha Plant Combined Cycle / Cogen Solar Energy Hydro Power Other Business Plant Sriracha Power Plant Shareholder GPSC 100% ~40 rai leasehold land in Ampor Sriracha, Chonburi Location Province Type IPP, Combined Cycle Power Plant ~Electricity 700 MW and Capacity ~Demineralized Water 80 Cu.m./hr. Construction Year 2005 - 2010 COD Year 2006-2010 Sriracha Plant Natural Gas – PTT • Supplier Raw Water – EASTW • Power Back up – EGAT and TP • Power : EGAT 700 MW Customer Demineralized Water : Thaioil Power 80 Cu.m./hr. 1,300 1,100 900 Amount (THB MM) 700 500 300 100 -100 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 -300 Interest income AR amortizaton -500 6
Rayong Plants Combined Cycle / Cogen Solar Energy Hydro Power Other Business EGCO Rayong Plant Central Utility Plant 1 – 3 (CUP 1 – 3) CUP-2 Shareholder 100% by GPSC Location ~70 rais in Map Ta Phut, Rayong Type Cogeneration & Combined Cycle Power Plant ~Electricity 339 MW, Steam 1,340 tph and Processed Water Capacity 2,000 Cu.m./hr. Gas Separation Plant Construction Year 2005 - 2010 COD Year 2006 - 2010 CUP-1 Natural Gas – PTT • Supplier Clarify Water or Raw Water – each Industrial Estate • Power Back up – EGAT or PEA • CUP-3 ~EE: PTT Group 155 MW, Other IUs 67.5 MW and EGAT 100 MW Customer ~ST: PTT Group 591 t/hr, Other IUs 7 t/hr ~WT: PTT Group 540 Cu.m./hr. IEAT Port (Map Ta Phut) Supplementary Firing Scrap NOx both from GTG and HRSG 7
RPCL Combined Cycle / Cogen Solar Energy Hydro Power Other Business RPCL Name Ratchaburi Power Company Limited (RPCL) RAC 25%, PAI (Mauritius) 25%, GPSC 15%, Shareholder CEPCOI 15%, Saha Union 10%, Toyota Tsusho 10% Location Damnoen Saduak District, Ratchabuti Type IPP, Combined Cycle Power Plant Capacity Electricity 1400 MW Block 1 : Mar 1, 2008 COD Block 2 : Jun 1, 2008 Customer EGAT 8
CHPP Combined Cycle / Cogen Solar Energy Hydro Power Other Business Name Combined Heat and Power Producing Co., Ltd. (CHPP) Shareholder GPSC 100% Location Chaeng Watthana, Bangkok Type Very Small Power Producer (VSPP) and Chilled Water ~Electricity 9.2 MW and Capacity ~Chilled water 12,000 RT COD Electric Chiller Jan 1, 2009 MEA 6.6 MW • Customer DAD ~8,700 RT • 9
BIC Combined Cycle / Cogen Solar Energy Hydro Power Other Business Name Bangpa-in Cogeneration Company Limited (BIC1) GPSC 25%, CK Power 65%, IEAT 8% and Shareholder Individual 2% Bangpa-in Industrial Estate, Klongjig Bang Pa-in, Location Ayutthaya Type SPP-Cogeneration ~Electricity 117 MW and Capacity ~Steam 20 tph COD 28 Jun 2013 ~Electricity EGAT 90 MW and IUs 27 MW Customer ~Steam IUs 20 tph Name Bangpa-in Cogeneration Company Limited (BIC2) GPSC 25%, CK Power 65%, IEAT 8% and Shareholder Individual 2% Bangpa-in Industrial Estate, Klongjig Bang Pa-in, Location Ayutthaya Type SPP-Cogeneration ~Electricity 117 MW and Capacity ~Steam 20 tph COD Jun 2017 (construction progress 1.85%) ~Electricity EGAT 90 MW and IUs 27 MW Customer ~Steam IUs 20 tph 10
NNEG Combined Cycle / Cogen Solar Energy Hydro Power Other Business Name Navanakorn Electricity Generating Co., Ltd. (NNEG) GPSC 30%, NNCL 30% and Shareholder RATCHGEN 40% Navanakorn Industrial Promotion Zone, Pathum Location Thani Type SPP-Cogeneration ~Electricity 125 MW and Capacity ~Steam 30 tph SCOD 1 Jun 2016 (Construction Progress 54%) ~Electricity : EGAT 90 MW and Customer IUs 30 MW ~ Steam : IUs 30 tph 11
IRPCCP Combined Cycle / Cogen Solar Energy Hydro Power Other Business Name IRPC Clean Power Company Limited (IRPCCP) Shareholder GPSC 51% and IRPC 49% ~118 Rai in IRPC Industrial Zone at Choeng Noen, Location Rayong Type SPP-Cogeneration CHP II Project ~Electricity 240 MW and Capacity ~Steam 300 tph Phase I : June 2015 (construction progress 96%) SCOD Phase II : 1 June 2017(construction progress 52%) ~Electricity: EGAT 180 MW and Customer IRPC 60 MW IRPC ~Steam : IRPC 180 – 300 tph Industrial Zone IRPC Industrial Zone 12
TSR (SSE1) Combined Cycle / Cogen Solar Energy Hydro Power Other Business Thai Solar Renewable Company Limited : TSR Name (TSR hold 100% share in Siam Solar Energy 1: SSE1 ) Shareholder TSE 60% and GPSC 40% Location 4 sites in Kanchanaburi and 6 sites in Suphanburi Type Solar Don Chedi Capacity Electricity 80 MW COD 2013-2014 Customer PEA Tha Muang 13
Ichinoseki Combined Cycle / Cogen Solar Energy Hydro Power Other Business Solar Power Plant in Japan Name Ichinoseki Power 1 GK Shareholder GPSC 99% GA 1% Location Japan Type Solar 20.8 MW AC Capacity COD Q1 2017 Customer Tohoku Electric Power Progress - Project received permission to expand power Update capacity to 20.8 MW AC - The project already received relevant licenses including Grid Connection Agreement - GPSC is in the process to negotiate EPC contract and O&M contract - PPA contract negotiation with Tohoku Electric Power Company is almost concluded. - Site preparation is in progress. 14
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