u.s.a. - un mercato in forte ripresa e su cui ......• 600mw pipeline in key markets (africa, us,...

"Our mission is to be a leader in the creation of renewable energy, delivering

complete solutions, working as a vertically integrated team to drive

performance throughout the value chain while continuously delivering both

commercial and utility scale power plants worldwide” www.buildingenergy.it

U.S.A. - UN MERCATO IN FORTE RIPRESA E SU CUI

INVESTIRE

Genova – September 30, 2013

www.buildingenergy.it

• 150 + MW solar PV directly or indirectly deployed

• 81MWp under construction in Kathu (South Africa)

• 10 project in operations for a total of 8MW in Italy and 10% participation in Kathu project

• Diversified PV portfolio under management : rooftop, ground-mounted

• 600MW pipeline in key markets (Africa, US, Japan, Romania)

• Diversified technologies (PV, wind, biomass, hydro)

• Uni EN ISO 9001:2008 and ISO 14000

• Awarded the Best EMEA Sustainability Project Finance deal of the year and the Best Company for Leadership in Clean Energy in 2012

• Diversified geographical presence in 4 continents with direct offices and JV with key players in the market: • South Africa – Cape Town • USA – Washington • Japan – Tokyo • Romania – Bucharest

• On June 28, 2013 Synergo Sgr invested €20mln for a 25% stake in Building Energy to fund the further growth of the Company, valuing the business €80mln post-money

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Building energy at a glance

Our Mission is to become a Global Independent Renewable Power Producer

Managers Holding

Company

Solar NRG Srl Synergo

Inv. Company

BE ZERO Srl

Holding S.p.A.

S.p.A.

75% 25%

100%

Cash €20 mln Contribution in kind €60 mln

Cash €19.9 mln

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Building Energy’s Business model


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Integrated Business Model

– Green and brown field project internal development and investment selection process

– Strong EPC capabilities

– Energy Management Services and O&M capabilities with state of the art monitoring and controlling technologies

– Experienced financial arranger

– Long term IPP investment strategy

Business development: focus on International expansion

– Leading to an international 600MW+ project pipeline (Italy, South Africa, Romania, North America, Dominican Republic, Africa Emerging Markets)

– Focus on identifying strong, reliable local partners (e.g. WBHO in South Africa, ABM Industries in the US)

– Early access to frontier markets via a solidly proven platform

– Speed of execution to maximise lifetime project value

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Control of the operation through all the value-chain

– Procurement of Top Tier Components and technology: bankable track record, operational risk mitigation through solid performance obligations and appropriate warranties

– Power plant EPC - direct and indirect track record of over 150 MW delivered and in operation, including largest PV tracker facility in Italy (Montalto di Castro, 85 MW)

– Experienced management team in different technologies

Arranger of debt and equity finance

– Project Financing arrangement capabilities and bankability track record (300 M€ deal for the Kathu project)

– More than €70mln equity raising to finance the project

– Recently closed an €20mln capital increase of Building Energy to further growth the company and retain equity in profitable investment

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Development EPC

Green and Brownfield development project activities

worldwide

Global IPP O&M

Stable value creation over the long term

Engineering, Procurement & Construction contractor for

turnkey power plant realizations

Operation and maintenance of PV plants through long term contracts

(10 years – 20 years)

Direct equity investments and asset management of property

plants guaranteeing a return according to the plant

performance

Integrated business model 1

Countries of presence

Long-term focus

ROMANIA

ITALY

KENYA

BOTSWANA

SOUTH AFRICA

NAMIBIA DOMINICAN REPUBLIC

USA

CANADA

UGANDA

JAPAN

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Global footprint: focus on international expansion


Current expansion targets

• 15MW of PV plants under management

• 28 MW ready-to-build portfolio

• 81 MW under construction (Katuh 81) • 200 MW under development

• 50 MW wind to start construction in 2014, 20 MW PV pipeline under development

SUB-SAHARAN AFRICA • 230 MW under development

• 1.2 MW solar under construction • 150 MW wind/solar under development • 30 MW under development

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Global footprint: United Stated of America


• In spite of fast growth in ’11-’12, the US PV market still lags significantly behind mature PV markets in Europe

• Scattered development across the nation, whereby attractive potential in some States remains largely unexploited

Source: Bloomberg New Energy Finance, PV Market Outlook Q4 2012

Installed PV per capita, end 2012 (W/person)

GDP per capita, adjusted for PPP, 2011$

Current State focus for BE

BE’s value-add in the US Market

• Experienced player

• Strong local partners

• Excellent understanding of regulation and market trends

• Stakeholder management

Source: U.S. Solar Market Insight 2013, GMT Research and SEIA

U.S. PV installation forecast, 2010-2016

Estimated market value of $12 billion

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Offering & Value Proposition to the non-residential and utilities PV markets

Financial benefits

• Flat and predictable electricity price and volume supplied for 20 years

• or extra revenue based on annual rent for roof or ground surface utilization for 20+ years

• or roof refurbishment if required

• or free PV carport

• and/ or tax expenditure optimization

Communication and Marketing benefits

• Corporate Social Responsibility platform:

– to position the customer as an environmental pioneer

– to raise community awareness about environmental matters

– To involve the customers stakeholders in sustainable development initiatives

Environmental benefits

• Clean CO2 free renewable electricity supplied to the facilities


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EPC and O&M services • Joint Venture with ABM Industries, one of the largest facility management service providers in the US • 100 years of experience, 100,000 employees, $1.5 Billion market cap • Energy Services expertise and extensive geographical network • On going origination for C&I solar PV, thanks to a substantial base of commercial, industrial and

Federal Government clients • Teaming up for the 7bln qualification under the MATOC initiative issued by US ARMY.

Solar development

• Entered into a Framework Development Agreement with experienced solar player Distributed Sun • 20 MW target of fully permitted solar projects by 2013-2014 • Maryland 1.2 ground-mounted: start construction in June 2013, expected commissioning by Sept

2013

Other technologies • Framework Development agreement with Optimum Renewables for small-scale wind

Finance • Roadshow with key renewable asset lenders (WF, BofA,Rabo, Intesa, US Bank, JP Morgan, DB)

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Partnerships are key to penetrate the US market


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Joint venture ABM BE

The JV allows both partners to benefit from complementary skills and capabilities in order to efficiently operate in the development, construction and operations of new projects

PV Track Records: Proven PV solar experience

Operations: engineering capabilities, technological know how, coordination of logistics, procurement, timely and top quality construction

EPC and O&M Strong Bankability

Market leaders

Client driven solutions

Solid balance sheet and ability to deliver top quality workforce and general contracting capacity in USA

Leverage its commercial structure to serve its client in the renewable market

Lines up well with Building Energy capabilities


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ABM : a global provider of energy services


Guam

Soto Cano, Honduras

AzoresBermuda

Abuja, Nigeria

Adana Turkey

Italy

Cairo, Egypt

Bagram, Kabu, Kandahar

Afghanistan

Baghdad, Iraq

Vancouver, Canada

Edmonton, Canada

Kuwait City, Kuwait

Doha, Qatar

Abu Dhabi, U.A.E

Cancun, Mexico

Juarez, Mexico

Monterrey, Mexico

Montreal, CanadaToronto, Canada

Osaka, Japan

Osan, S. Korea

France

300+ US Offices

Norway

Denmark

Finland

UK

Spain

Portugal

Australia

Czech Republic

Russia

• ABM is one of the largest facility management service providers and ESCOs in the US • 100 years of experience, 100,000 employees • Builiding Energy is actively marketing AMB key client to develop PV business

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Control of the operations through all the value-chain 3

Building Energy project financing:

• Our direct and indirect track record include project finance transactions and leasing deals;

• Relationships with key financial institutions;

• Solid track record in structuring complex deals

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Project Finance for Kathu Solar Facility

2012 EMEA Best Sustainability Deal, Project Finance Awards

PROJECT HIGHLIGHTS: • 81MWP Single Axis Tracker System • 180GWh/annum produced • 350 M€ Project Investment Cost • Equity raised: 70 M€ • Debt: 280 M€ (Rand Merchant Bank) • Equity sponsors include Macquarie, Old

Mutual

BUILDING ENERGY’S ROLE: • Lead member and sole sponsor to Financial Close • Developer, EPC contractor, O&M Contractor • Debt and Equity arranger

Arranger of debt and equity finance 4

Building Energy fund raising capabilities:

• Closed the first round capital increase, selling 25% of Building Energy’s share capital to Synego Sgr a prominent Italian Private Equity fund with approx. 1.3bn of asset under management

• Relationship with investors specialised in structred equity transactions in the renewable energy sector

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Arranger of debt and equity finance (continued)

“Italian developer Building Energy has closed the financing for its 81MW Kathu solar photovoltaic project in South Africa. Drawdown on the R2.9 billion debt began on 19 November 2012, and construction on the plant is expected to be completed within 21 months.”

Project Finance Magazine, 26 November 2012

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ROMANIA

Bucarest, settore 1 B-dul Niculae Titulescu nr.1, Bl A7,

Tel. 0040 (0) 21 7941548

SOUTH AFRICA

Cape Town Unit 103B The Piazza

72 de Waterkant Street - Green Point Cape Town 8001

Johannesburg

WBHO Building Energy JV Pty Ltd 15 Andries Avenue Wynberg - Sandton

Tel. 011 887 4364

Milano Via Tortona ,15 - 20144 Milano

Tel. 02.49527730 - Fax 02.49527731 e-mail: [email protected]

Savona Largo delle Coffe, 1/14 - 17100 Savona

Tel. 019.8932016 - Fax 019.814337

DOMINICAN REPUBLIC

Santo Domingo

calle El Embajador, plaza Jardines Del Embajador, local 302/B

ITALIA


505 9th Street, Suite 800 Washington DC 20004

USA

u.s.a. - un mercato in forte ripresa e su cui ......• 600mw pipeline in key markets (africa, us,...

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