Nordex USA, Inc
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Nordex USA, Inc. Nordex Group Nordex USA, Inc. Company Introduction Wind Energy Market (1) Global Sources of Energy - 2006 Forecast Energy Demand 2,185,714 Wind + Wind Turbines Photovoltaic + Solar Thermal < 6 0,005 Geothermal < 0,01 5 Biomass 0,19 5,200 200 Hydro 0 ,17 Natural Gas 0,61 Coal-fired Three Gorges 4 C Plants Dams Nuclear 0,15 M 3 O 1 cubic mile s Oil* 2 1 4,500,000,000 1,300 0 Solar Panels Nuclear Power Coal 0,81 2000 2010 2020 2030 Plants Oil 1,06 CMO: Cubic Mile of Oil Current Demand = 3 CMOs Projected Demand = 6 CMOs * Assumes energy equivalent for generation of 15.3 million GWh of electrical energy Based on: IEEE Spectrum, January 2007 ___ 2 Wind Energy Market CAGR ‘05 - ‘08 ‘08 - ‘13 CAGR 2008 - 2013e: 22.9% 27% 23% 350,0 CAGR 1995 - 2008: 28.3% 343,2 3,4% 28% 58% 2,9% 2,4% 300,0 284,6 2,0% 53% 29% 1,7% 1,3% 250,0 1,1% 233,2 0,7% 0,9% 0,5% 0,6% 0,3% 0,3% 0,4% 42% 26% 0,1% 0,1% 0,2% 0,2% 200,0 189,4 152,8 150,0 122,2 17% 17% 100,0 90,1 72,6 59,3 47,9 40,3 50,0 32,0 24,9 13,9 18,4 4,8 6,1 7,6 10,2 0,0 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 % Increase 27.0 27.1 24.6 34.2 36.3 32.4 35.3 28.5 25.9 18.9 23.8 22.4 24.1 35.6 25.0 24.0 23.1 22.0 20.6 Europe The Americas Asia-Pacific RoW Wind Pow ers' Share of Total Pow er Market Source: BTM ___ 3 Competitiveness of wind generated electricity (1) €/ MWh €/ MWh 100 100 80 80 60 60 40 40 20 20 0 0 IGCC IGCC CCGT CCGT CCS CCS IGCC + IGCC + Wind Wind Wind Wind Coal Coal Onshore Offshore Onshore Offshore Traditional Traditional Range of cost of electricity without Range of cost of electricity assuming a potential cost of carbon carbon penalty of €30 / ton for CO2 derived from fossil fuels Base Case Base Case 4 Source: emerging energy research Competitiveness of wind generated electricity (2) Electricity generating costs in selected regions $ per MWh 200 Coal Gas Nuclear 160 Wind 120 80 40 0 2015 2030 2015 2030 2015 2030 2015 2030 United States European Union China India Source: IEA WEO 2008, Note: Costs include a carbon value of US$ 30 per tonne of CO2 in the EU. In 2015, coal refers to supercritical steam. In 2030, coal refers to IGCC (integrated gasification combined cycle) for the US, ultra-supercritical steam for Europe and China and supercritical steam for India. Gas refers to CCGT (combined cycle gas turbine). 5 Wind Energy Market in the US (1) As of 2008 25,170 MW have been installed in the US: 6 Wind Energy Market in the US (2) 4,451 MW are currently under construction in the US. 7 Wind Energy Market in the US (3) Outlook by state: 104,789 MW in advanced development stages 8 Nordex Group: Key Facts Nordex at a Glance Installed base as of Feb 2009 • Global manufacturer of wind energy Germany 35 % systems with a focus on turbines in MW Class Other Europe 51 % • Founded in 1985 in Denmark Africa 1 % Geography • IPO in 2001 • Exceptional revenue growth track record Asia 10 % and strong future growth potential America 3 % • 2004 revenues: € 214m / $ 289m* • 2008 revenues: € 1,136m / $ 1,533m* 1 MW Turbines • Main manufacturing facilities in Germany (0.75 - 1.49 MW) MW Class (Rostock), China (Dongying, Yinchuan) and 30 % (1.5 - 2.5 MW) from 2010 in the USA (Jonesboro, 65 % Arkansas) Segment • Headquartered in Germany (Hamburg) Small • 2,153 employees as of December 2008 (<0.75 MW) 5 % Total: 4,918 MW * based on exchange rate of USD 1.35 / EUR 9 Most of the Leading Companies have chosen Nordex … Selected Key Customers – Delivered Projects Selected Projects Total MW Customers Country # WTG MW (Names) Installed Germany Niederrhein 8 12 47 Germany Roth 15 23 France Brachy 5 12 UK Bow Beat 24 31 86 Germany Ketzin 8 18 Germany Schortewitz 6 15 Germany Hoppenrade 5 12 Poland Lebcz 4 10 UK Wharrels Hill 8 10 15 UK Burgar Hill 2 5 France Fitou 2 8 10 11 France Fitou Extension 1 1 Netherlands Nerefco 9 23 23 Portugal Carrezo 9 21 41 Portugal Vergao 10 13 Portugal Chamine 3 7 Norway Havøygavlen 16 40 40 UK Crystal Rig 20 50 63 UK Crystal Rig Extension 5 13 UK Kings Mountain 10 25 25 10 …and continue. Demand for MW- turbines increases significantly. Selected Customers – Capacities Under Construction Total MW Selected Projects Customer Country # WTG MW Under (Names) Construction Italy Minervino Murge 26 60 183 UK Kilbraur 19 48 UK Millenium 16 40 UK Earlsburne 14 35 Italy Fossa del Lupo 36 90 215 Italy Capo Rizzuto 32 80 Italy Vicari 18 45 Poland Dolice 21 53 53 UK Little Cheney Court 26 60 64 UK Bilbster 3 4 UK Slieve Divena 10 25 50 UK Gruig 10 25 Italy Grighine 43 99 206 Italy Messina 21 48 Italy Energia Alternativa 25 38 Italy Cadau 14 21 France Boulay 12 30 78 France Erize 5 12 France Amelecourt 5 12 France Saint Aubin sur Aire 5 12 France Courcelles sur Aire 5 12 China Taonan Jilin 33 50 50 11 Nordex products are well-regarded by ery n v customers and industryb eexpertse our as ing h eet lose dex m a c ur “We have calculated the annual “Nor sful as d o es t w an ng ucc . I BP nci yield of the N90 to around 7,800 s rds ith nvi da p w co the MWh. The production of 8,500 stan shi e is e e “Nordex has aionally. long track They on er l us ts w MWh is therefore 9% above our lati If th wil ec ) re s. ey proj BP expectations.” (Elsam) record internat tner e th re .” ( ar nc utu n are therefore candidates for a p ide in f agai fast return to the global ev nce rdex erie No players group.” (BTM) exp use uld wo “Last week we inspected the “All three wind farms complied first eight wind turbines from our with the contractual availability wind farm, supplied and guarantee of 97% in 2003. The installed by Nordex. I want to “In general terms, windhave turbine the manufacturers wind farm achieved a greater state that we were impressed to yield than that indicated by the see the quality ofgy work, for your the tendency to overestimate both chosen technolo good spirit of types of data somewhat. wind index data. Generally machines and the Based on our results to date, speaking, Nordex works as both Nordex could be an a producer and an operator as your people at the site.” (Nuon) exception.” (ECN Research) well and as efficiently as can be expected for other large 12 companies in this sector.” (Renerco) Nordex Product Range: an outstanding track record in the MW class Market growth by product segments Development of market segments by 2011e (supplied MW) > 2.5 “Multi-MW class” 1.5 - 2.5 “MW Class” Offshore Very small segment Offshore 20,442 0.75 - 1.49 “One MW” 6 % < 750 kW “Small WTG” Established Established markets markets Western Europe Western Europe + 8 %* (including 48% North America Key growth Spain) markets with North America significant turbine up-scaling drive Asia (including growth of MW China, India) 80 % + 41 %* class 8,304 Spain 1 % China 3535% % India 46% Emerging markets Emerging 5656% % Emerging continue to use smaller markets markets 13 % turbines 8 % 1 % 2003 2008 2008 2011 Source: BTM Consult, 03/2009 * CAGR (2003-2008) 13 Nordex Product Range: Installed Base and Availability Turbine type Units installed 1st installation Performance Sub-MW 1,451 1985 N60/62 (1.3 MW) 711 1996 Availability in 2007/2008: Ø ≥ 97% S70/77 (1.5 MW) Availability in 2007/2008: Ø ≥ 98% 500 1999 N80/90/100 Availability in 2007/2008: Ø ≥ 97% 1,007 2000 (2.5 MW) 3,669 Worldwide installations: 3,669 WTG in 34 countries 14 (as of 1 Dec 2008) Nordex Product Range (1) Type Capacity Regulation Certification Hot and cold climate versions Nordex 1.5 MW pitch GL2 / IEC 3a Conditional S70/77 monitoring system Nordex N80 2.5 MW pitch IEC 1a Fire detection and Nordex N90 2.3 MW pitch GL2 extinguishing system Nordex N90 2.5 MW pitch DIBt 2, DIBt 3 and Shadow impact cut- IEC 1b, IEC 2a, IEC out module 3a Nordex N100 2.5 MW pitch IEC 3a, DIBt 2 Anti-bat system Additional filter systems 15 Nordex Product Range (2) Product portfolio: Nordex vs. Competitors IEC III (LS) IEC II (MS) IEC I (HS) N80/2.5 Nordex (2000) N90/2.5 Nordex (2005) Nordex (2005) N90/2.3 Nordex (2002) N100/2.5 Nordex (2009) SWT82/2.3 Siemens (2003) V90/3.0 Vestas (2003) E70/2.3 Enercon (2005) • MW Class (1.5-2.5 MW) is the industry segment with highest actual growth rates as well as the highest medium-term growth potential and is increasingly becoming the “Mainstream Class” • Nordex, with the most complete MW Class product offering, benefits from the “First Mover” advantage 16 Nordex: Cold + Hot Climate Versions and Other Technical Features Sophisticated solutions for various conditions: Cold and Hot Climate Versions • special materials and components for performance between -30°C and +40°C, restart at -28°C • special air conditioning • additional cooling units and improved cooling system with new tower design Other Features • Conditional Monitoring System • Fire detection and extinguishing system • Shadow impact cut-out module • Anti-bat system • Additional filter systems 17 Nordex Control Systems Control and regulation from a single wind turbine to multiple wind parks Nordex Control II reports: • operational disturbances • status of the turbines • availability • daily, monthly and annual production • turbine-specific wind conditions • data recorded by the weather mast • data recorded • substation Real-time transmission of alarms via e-mail or SMS to operator's mobile phone 18 Nordex Turnkey Solutions Advantages: • Minimize risk with fixed price and guaranteed deadlines • No interface cost risks • Support for finance issues • Save time through advanced services for planning and grid connection Substation Nordex has DIN ISO 9001 certification for planning, delivery, installation and commissioning of all electrical and technical automation systems as well as for the infrastructure required for wind turbines.