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Repower Systems AG Corporate Presentation REpower Systems AG Corporate Presentation September 2009 “Of all the forces of nature, I should think the wind contains the largest amount of motive power – that is, power to move things.” …… Abraham Lincoln (1859) “We will harness the sun and the winds and the soil to fuel our cars and run our factories […] All this we can do. And all this we will do.” …… Barack Obama (2009) 2 There are four good reasons for the growth of renewable energies. Scarce resources Import dependency RENEWABLERENEWABLE Climatic change ENERGIESENERGIES Growing energy demand 3 Agenda At a glance Market Company Technology Projects Financials & Outlook 4 Fiscal year 2008/09 at a glance. ExpansionExpansion InnovationsInnovations OffshoreOffshore milestonesmilestones ofof capacitiescapacities StartStart ofof 5M5M serialserial ProductProduct launchlaunch ofof upgradedupgraded ConstructionConstruction startstart ofof newnew productionproduction inin thethe newnew offshoreoffshore turbineturbine REpowerREpower R&DR&D CentreCentre offshoreoffshore manufacturingmanufacturing andand 6M6M (Osterrönfeld, Germany) (Osterrönfeld, Germany) logisticslogistics centrecentre ProductProduct launchlaunch ofof newnew StartStart ofof rotorrotor bladeblade CompletionCompletion ofof firstfirst fullyfully onshoreonshore turbineturbine REpowerREpower productionproduction inin thethe newnew rotorrotor approvedapproved BelgiumBelgium offshoreoffshore 3.XM3.XM bladeblade facilityfacility windwind farmfarm „Thornton„Thornton Bank“Bank“ StartStart ofof serialserial productionproduction ofof FrameworkFramework agreement:agreement: NewNew rotorrotor bladeblade designdesign MM-seriesMM-series inin thethe newnew supplysupply ofof 250250 REpowerREpower RE50.8RE50.8 forfor 3.XM3.XM turbinesturbines facilityfacility inin OliveiraOliveira dede 5M/6M5M/6M offshoreoffshore turbinesturbines toto Frades,Frades, PortugalPortugal RWERWE InnogyInnogy GmbH GmbH 5 Q1 2009/10 at a glance. FinanceFinance & & FairsFairs && exhibitionsexhibitions CurrentCurrent projectsprojects shareholdershareholder situationsituation MarketMarket entryentry intointo Poland:Poland: REpowerREpower exhibitsexhibits 3.XM3.XM CompletionCompletion ofof growthgrowth windwind farmfarm “Leki“Leki Dukielskie“ Dukielskie“ modelmodel atat HannoverHannover finance:finance: REpowerREpower raisedraised completed;completed; “Bukowsko““Bukowsko“ to to IndustrialIndustrial FairFair EUREUR 600.0600.0 millionmillion bebe completedcompleted stillstill inin 20092009 InternationalInternational Fairs:Fairs: REpowerREpower andand ValoremValorem CompletionCompletion ofof MartiferMartifer WindpowerWindpower 2009 2009 FairFair agreeagree onon thethe supplysupply ofof 2121 stakestake acquisition:acquisition: (Chicago);(Chicago); All-EnergyAll-Energy 20092009 windwind turbinesturbines forfor onshoreonshore SuzlonSuzlon now now ownsowns 90.72%90.72% (Aberdeen)(Aberdeen) projectsprojects inin FranceFrance ofof REpower’sREpower’s share share capitalcapital 6 Innovations: High-tech offshore and onshore. REpower 6M RatedRated power:power: 6.15 6.15 MWMW RotorRotor Ø:Ø: 126 126 m m HubHub height:height: offshore offshore aroundaround 80-9580-95 mm onshoreonshore aroundaround 100100 m m RatedRated windwind speed:speed: 14.0 14.0 m/secm/sec Certification:Certification: IEC IEC 1b,1b, GLGL OffshoreOffshore TK1TK1 REpower 3.XM RatedRated powerpower :: 3.303.30 MWMW RotorRotor Ø:Ø: 104 104 m m HubHub height:height: 78-80 78-80 // 98-10098-100 m m RatedRated windwind speed:speed: 12.512.5 m/secm/sec Certification:Certification: upup toto IECIEC 2a2a 7 Expansion of capacities: Bremerhaven & Osterrönfeld. Osterrönfeld/GermanyOsterrönfeld/Germany REpower 5M/6M production hall LayingLaying ofof thethe foundationfoundation stonestone forfor thethe newnew R&DR&D CentreCentre PowerBlades Rotor blade factory Bremerhaven/GermanyBremerhaven/Germany StartStart ofof serialserial productionproduction ofof rotorrotor bladesblades andand 5M5M turbinesturbines inin thethe newnew offshoreoffshore manufacturingmanufacturing && logisticslogistics centrecentre 8 Offshore milestones: Belgian wind farm Thornton Bank. Completion of Phase I (30 MW)* Customer: C-Power Location: Belgian North Sea, close to Zeebrügge Turbine type: REpower 5M Number of turbines: 6 Total rated power: 30 MW Rotor diameter: 126 m * Total capacity planned for 3-phase project Thornton Bank: 300MW; Start of phase II in 2010; Start of phase III in 2012. 9 Agenda At a glance Market Company Technology Projects Financials & Outlook 10 The global wind industry 2008 – continuous growth. CumulativeCumulative installedinstalled capacity:capacity: 120,791.0120,791.0 MWMW (+28.7%(+28.7%*)*) NewNew installedinstalled capacity:capacity: 27,056.027,056.0 MWMW (2007:(2007: 20,076.020,076.0 MW)MW) Top 5 growth markets 2008 (MW): USA 8,358.0 China 6,300.0 India 1,800.0 Germany 1,665.0 Spain 1,609.0 Source: Global Wind Energy Council (GWEC) / Statistics, January 2009 * Compared to previous year 11 BTM Consult expects further global market growth. Annual/Cumulative installed capacity (MW) Americas Europe Asia/Pacific RoW Total world accumulated 70,000 400,000 60,000 350,000 300,000 50,000 15,300 250,000 40,000 13,400 12,400 200,000 30,000 10,300 20,150 18,080 150,000 8,201 9,650 20,000 15,900 13,505 100,000 9,179 11,580 10,000 16,200 18,300 50,000 12,450 9,527 7,650 10,450 0 0 2008 2009e 2010e 2011e 2012e 2013e Source: BTM Consult Aps – World market update, March 2009. 12 Make Consulting projects a slump in new installations in 2009. Annual/Cumulative installed capacity (MW) Americas Europe Asia/Pacific RoW Total world accumulated 60,000 350,000 50,000 300,000 250,000 40,000 15,870 13,800 200,000 30,000 11,930 10,320 17,210 150,000 20,000 6,980 15,600 7,800 12,590 100,000 11,345 7,885 10,000 7,130 15,600 50,000 11,600 13,000 9,000 7,200 9,700 0 0 2008e 2009e 2010e 2011e 2012e 2013e Source: MAKE Consulting – World market update, October 2008 13 European wind industry 2008 – still outstanding. CumulativeCumulative installedinstalled capacity:capacity: 65,946.065,946.0 MWMW (+15.0%*(+15.0%*) ) NewNew installedinstalled capacity:capacity: 8,877.08,877.0 MWMW (2007:(2007: 8,554.08,554.0 MMW)W) Offshore on the rise: planned offshore wind farms for 2015 (MW): Germany 10,927.5 United Kindom 8,755.8 Sweden 3,312.0 Netherlands 2,833.8 Spain 1,976.4 Belgium 1,446.0 Source: European Wind Energy Association (EWEA) / Offshore Statistics, January 2009 * Compared to previous year 14 Offshore boom in Europe is expected in 2011/2012. Annual/Cumulative installed capacity (MW) Europe Rest of World Total world accumulated 4,500 12,000 4,000 10,000 3,500 3,000 8,000 2,500 6,000 2,000 3,779 4,000 1,500 2,741 1,000 1,500 2,000 500 810 344 0 0 2008 2009e 2010e 2011e 2012e Source: BTM Consult Aps – World market update, March 2009. 15 Wind industry 2008 in Germany – stable domestic market. CumulativeCumulative installedinstalled capacity:capacity: 23,903.023,903.0 MWMW (+7.4%*)(+7.4%*) NewNew installedinstalled capacity:capacity: 1,665.01,665.0 MWMW (2007:(2007: 1,667.01,667.0 MMW)W) RealReal energyenergy feed-in:feed-in: 40.34 40.34 TWhTWh CO2CO2 avoidance:avoidance: 34.61 34.61 mm tonstons Ambitious offshore plans UntilUntil 20152015 projectsprojects withwith aa totaltotal ratedrated powerpower ofof mormoree thanthan 10,00010,000 MWMW areare toto bebe realisedrealised inin GermanGerman NorthNorth SeaSea andand BalticBaltic Sea.Sea. * Compared to previous year 16 Wind power tariff converges towards EEX base load tariff. Development of the feed-in tariffs against EEX base load tariff. Ct./kWh 10 9 8 7 6 5 4 3 2 1 0 2004 2005 2006 2007 2008 Q1/09 EEX-Baseload Remuneration for new wind turbines, weak wind Basic Renewable Act remuneration 17 Agenda At a glance Market Company Technology Projects Financials & Outlook 18 Mission vision value statement. 2020:2020: WindWind energyenergy isis expectedexpected toto bebe thethe costcost cuttercutter inin thethe energyenergy mix.mix. 2012:2012: ElectricityElectricity fromfrom windwind energyenergy isis expectedexpected tt oo bebe producedproduced atat primeprime VISIONVISION costscosts ofof fossilfossil powerpower plants.plants. REpower’sREpower’s long long termterm goalgoal isis aa leadingleading positionposition in in thethe offshoreoffshore segment.segment. TechnologicalTechnological leadershipleadership inin contrastcontrast toto priceprice leadeleadershiprship Continuous improvement of international market position & competitiveness MISSIONMISSION Continuous improvement of international market position & competitiveness fosteringfostering premiumpremium quality,quality, highhigh technology,technology, financifinancialal stability,stability, profitability, profitability, internationalityinternationality andand aa strongstrong corporatecorporate cultureculture PerformancePerformance valuesvalues -- e.g. e.g. highhigh qualityquality && innovativeinnovative abilityability CommunicationCommunication valuesvalues -- e.g. e.g. respectrespect && transparencytransparency VALUESVALUES CooperationCooperation valuesvalues -- e.g. e.g. teamteam spiritspirit && reliabilityreliability EthicalEthical valuesvalues -- e.g. e.g. integrityintegrity && equalityequality (gender,(gender, origin,origin, religion)religion) 19 REpower business model. PremiumPremium suppliersupplier TechnologyTechnology leaderleader SolutionSolution providerprovider (Quality)(Quality) (Innovation)(Innovation) (Integration)(Integration) 20 From regional master to international champion. Turnover (EUR m) Employees Engineers
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