csp tower brightsourceenergy

7/28/2019 CSP TOWER BrightSourceEnergy

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November 15-17, 2010

4th Concentrated SolarThermal Summit


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BrightSource Energy A CSP Success Story

BSEs Pilot Plant Has Been Directly Producing 5400C High Pressure Steam

from Concentrated Sunlight for Over Two Years


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October Groundbreaking for Ivanpah Solar Electric Generating System


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BSE: Four Years of Innovation and Achievement

October, 2006:

Technical and executive team with unmatched solar experience

Innovative solar thermal power tower technology cost effective on paper

Initial VC financing of US$31.5 million from enthusiastic, well-informed investors

MOU with Pacific Gas & Electric for 500 MW

No sites, no permits, no transmission approvals

October, 2010:

Backlog of 2.6 GW of signed, approved Power Purchase Agreements withPG&E and Southern California Edison

Pilot plant operational for two years with its performance certified by multiple IEs

Over US$300 million of corporate equity from world-class investors

Solar-2-Steam plant under construction for Enhanced Oil Recovery operations

Bechtel Power broken ground at Ivanpah, the worlds largest solar power project(392MW) - fully permitted with transmission access approved

Term sheet signed by US Government to provide US$1.4 billion Ivanpah debt

NRG Energy signed LOI to provide US$300 million of Ivanpah project equity

Alstom power invested US$50 million and became strategic partner


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BrightSources Formula for Success

Success

FinancialStrength

TechnicalCredibility

ProblemAnticipationand Solving

GreatTechnology

SolidBusiness

Plan

Talented,Proven Team


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BSEs High Temp, High Pressure CSP Technology

Heat ExchangerH C

Molten Salt Storage System


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Solar Field Layout for 125MW BSE Plant Low Impact Design does not require site grading and uses dry cooling, not water

Central power island reduces piping

Three-Stage Installation Pylon, Heliostat, Wiring/Cabling. Sequence of installation circular, back to front.

Numerous SF Installation teams work in parallel to reduce construction time

Flat mirrors slightly curved into four focal lengths during heliostat assembly

250m450m

750m1000m


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BSEs Solid Business Plan

Leverage decades of solar power generation experience

Integrate conventional generation equipment with directproduction of steam from sunlight

Prove technology at BSEs solar energy development center tosatisfaction of independent engineers, customers, investors,and the US Dept. of Energy

Set the environmental bar high with features such as low impactdesign and dry cooling

Assemble world-leading team of engineers, developers, projectfinancing specialists, and senior management

Adopt goal of making CSP competitive with CCGT during peakperiods

Address both power and industrial steam markets

Build solid backlog in US, then address international markets


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BrightSources Talented Proven Team

The BrightSource Team Built 354MW SEGS Plants in 80s and 90s - Still Running Today


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BSEs Financial Strength Over US$300 Equity

Series A, October, 2006: >US$15 million Initial investors includedVantage Point Venture Partners, DFJ, DBL Investors, and Chevron

Series B, March, 2007: >US$30 Million - Morgan Stanley becomessecond largest investor

Series C, May, 2008: >US$100 Million - Google joins the group

Series D, May, 2010: >US$150 Million Alstom Power and California

State Teachers Retirement System - largest investors in the round


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Credibility thru Successful Project Progression

Solar EnergyDevelopment

Center(OperationalOctober2008)

Solar Thermal

Chevron EORDemo Plant

(ConstructionBegan May, 2009)

Ivanpah SolarPower Complex

(Construction BeganOctober, 2010)


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BSEs Solar Energy Development Center

Key Demonstration Accomplishments

Worlds highest temperature and pressure solarthermal steam production known to be achieved

Independent verification by RW Beck

Over two years of successful operation

Laboratory for software optimization and testing ofdesign, materials, and suppliers

Key Design Parameters

6MWth production capacity

60 meter receiver tower

1,640 heliostats

12,000 meters of reflecting area

Operational since October, 2008


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Chevrons Coalinga Solar-2-Steam EOR Plant

Scheduled for Operation in 3Q 2011

Existing Enhanced OilRecovery Operations


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BSEs Ivanpah Solar Energy Generating Station

Ivanpah Milestones

392 MW PG&E and SCE PowerPurchase Agreements executed andapproved by CPUC

$1.375 billion US DOE LoanGuarantee CCL received

NRG Corporation will provide $300M

of project equity for all three plants

Bechtel Selected as EPC contractor& equity investor in all three plants

Purchase orders issued for turbines,boilers, mirrors, etc.

Groundbreaking Ceremony onOctober 27, 2010

Transmission upgraded by 2Q 2012

Plant CODs scheduled for 4Q 2012,1Q 2013, and 3Q 2011

Ivanpah Site Layout

Ivanpah 1 126MW

Ivanpah 2 133MW

Ivanpah 3 133MW


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Successfully Bringing Technology to Market Establishing market credibility: Signed MOU for 500MW before Series A financing closed

Site selection: Analyzed DNI and transmission and identified over 4GW of good sites within

six months of beginning operations Raising project debt for second-generation technology: Submitted preliminary request for

100% loan guarantee to US Department of Energy in December, 2006

Key elements of successful project development in US:

Transmission: Transmission access requests submitted 1Q 2007

Permitting is critical and takes time: Utilized low-impact design with minimal site disturbance and dry cooling,submitted permit and site right-of-way requests in July, 2007

Need creditworthy customer commitments: Signed 900MW of Power Purchase Agreements with Pacific Gas& Electric in February, 2008

Must demonstrate technology: Dedicated pilot plant in June, 2008, fully operational inOctober, 2008, extensively vetted by customers, investors, and the US DOE.

Capital intensive business requires financial depth and patient investors: Multiple roundsof funding from world-class investors based on solid achievement

Big backlog required to fuel growth: Increased total backlog of signed and approved PPAsin the US to 2.6GW by mid-2009worlds largest CSP backlog

World-class EPC contractor for Ivanpah: Select Bechtel Power

Strategic investor/operator for Ivanpah: Signed LOI with NRB Energy

International growth fueled with partnerships: Signed strategic partnership agreement withAlstom Power for selected countries.


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The BrightSource Formula Equals Success

Largest PPA backlog of any CSP company in the world.

Only two CSP plants are currently under construction in the USboth by BrightSource: Ivanpah Solar Power Complex will be worlds largest. President Obama cited

BrightSource and its Ivanpah project as examples of renewable energysuccess in his October 2 radio address.

Chevrons Coalinga plant will be the worlds first plant to use direct sunlight toproduce steam for use in Enhanced Oil Recovery operations.

The US Government signed term sheet to provide 100% ofIvanpahs project debt US$1.4 billion.

NRG Energy, one of USs largest power generators signed LOI to

invest US$300 million to be Ivanpahs majority owner and operator. Alstom Power, one of the worlds largest manufacturers of power

generation equipment, and a major EPC contractor, has investedUS$55 million in BSE and is partnering in selected countries.


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Alstom is the world leader in clean integrated solutions

Alstom Clean PowerStrategy

Emissions CO2(Gt/y)

2005 Ref 20301000 ppm

+6oC

Stabilizeemissions550 ppm

+30C

Neededpath

450ppm+20C max

TechnologyMix

Efficiency

CCS

Efficiency: Plantoptimisation & retrofit

First CO2 capturedemo plant in the

world

Wind, solar &geothermal

N 1nuclear*

& biomass

N 1 hydro

* Conventional islands


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An Integrated Solution: Aligned Areas of Expertise

Heat ExchangerH C

Molten Salt Storage System
http://www.alstom.com/http://www.power.alstom.com/


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Conclusions

Solar thermal: CO2-free technology

Alstom & BrightSource offering fully integrated turnkey solar thermal plants

Tower maturing towards utility plant size

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