International Investment Case: Jordan. Res4Med 25 Nov 2014 Milan

Transcription

1 International Investment Case: Jordan Res4Med 25 Nov 2014 Milan

2 Contents Project description Timeline 1

3 The Project Company: Shamsma an Power generation PSC Location: Ma an, Jordan Size: 50 MWac (more than 60 MWp) Grid: dedicated HV substation under construction by NEPCO Irradiation: more than kwh/m2/year (based on real measures) Technology: Single axis tracker thin film First Solar modules 2

4 The Development Partners 1 st Invest + Kawar Group (through Kawar Energy), 1 st International for Investment and Trade and Solar Ventures established a joint venture to exploit the Solar Business opportunity in Jordan. During 2012, First Solar joined the ShamsMa an partners as shareholder and technical partner, boosting the development of the initiative. 3 Ma an Development Company is sustaining the Shams Ma an s initiative providing an adequate plot of land in the Ma an Development Area

5 Solar Ventures Solar Ventures is a leading Italian independent power producer from solar energy, based in Milan Founded in 2005 to develop and manage large solar power plants, Solar Ventures has so far successfully developed a 500 MWp international pipeline (Italy, Mediterranean Region and South East Asia). 50 MWp operating PV plants in Italy: 24 plants, 5 EPCs, 7 inverters manufacturers, 10 modules manufacturers, 1st plant connected in 2007 Shareholders have very strong background in Venture Capital, Private Equity and Renewable Energy, the management team represents experts in finance, electrical engineering, PV technology and administrative law Solar Ventures is a recognized brand in Italy and abroad 4

6 The Jordan Partners Kawar Group represents a large entrepreneurial venture with multiple business interests. The Group has business interests in diverse sectors including Shipping & Transport, Travel & Tourism, Information & Communication Technology, Healthcare management, as well as many investments in infrastructure, energy and other industries Kawar Energy is a project developer, focused on bringing technologies, solutions and services of energy, water and environment projects that are clean, green and sustainable to reduce carbon footprint and ecological impact in Jordan and Middle East region, with a positive socioeconomic effect. Kawar Energy is a part of Kawar Group 1st Invest 1st International for Investment & Trade has a strong presence in the business field in Jordan through sister companies in plastic manufacturing, construction and real estate development. The owners of 1st International for Investment & Trade have significant family involvement in electricity distribution in Jordan dating back to the 1930s and until today 5

7 First Solar Founded in 1999, a market leader in utility scale, commercial, and industrial PV systems Advanced proprietary thin film technology, with one of the world s lowest production cost, with a clear roadmap to sustainable pricing Global experience with more than 10 years track record (with more than 8 GW installed worldwide) Systems integration expertise, covering EPC, development and O&M phases for large scale utility power plants Strong presence in the MENA Region, also through the new offices opened recently 6 Listed on NASDAQ included in S&P 500 index; Revenues of USD 3,31 billions in 2013; Capitalization of USD 5,0 billions as of mid of November 2014

8 Contents Project Description Timeline 7

9 Timeline (cont.) 2008: first contacts between founding development partners October 2009: Land Agreement signed with Ma an Development Company and Shams Ma an in Milan during Jordan-Italy business summit in the presence of H.M. King Abdullah II March 2011: CH2MHill contracted to perform a comprehensive feasibility study funded by USTDA May 2011: start of the testing project in the Ma an area conducted by NREL including several technology testing (both modules and inverters) and irradiation measurements July 2011: Submission of expression of interest (EOI) to MEMR, also backed by several international and GCC banks May 2012: MOU Signed with Ministry of Energy and Mineral Resources (MEMR) September 2012: First Solar joined the initiative as shareholder and technical partner 8

10 Timeline March 2013: Submission of proposal to MEMR August 2013: Submission of proposal revised (after request by MEMR) October 2013: Approval of the proposal by MEMR March 2014: signing of the Power Purchase Agreement and additional project agreements with MEMR, NEPCO and Government of Jordan July 2014: entrance of long term equity partners (Mitsubishi Corporation Qatar Electricity & Water Company) 4 th Quarter 2014: Financial Closing and start construction 2015: Construction and commissioning 9

11 Contacts Galleria San Babila, 4/b Milano Tel: Fax: