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Intersolar India Conference November 11 th , 2013

FROM NSM TO GRID PARITY MODELS: FEED-BACK FROM EXPERIENCE. Intersolar India Conference November 11 th , 2013. SOLAIREDIRECT, GLOBAL PIONEER OF COMPETITIVE SOLAR POWER ENGINEERING AND GENERATION.

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Intersolar India Conference November 11 th , 2013

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  1. FROM NSM TO GRID PARITY MODELS: FEED-BACK FROM EXPERIENCE Intersolar India Conference November 11th, 2013

  2. SOLAIREDIRECT, GLOBAL PIONEER OF COMPETITIVE SOLAR POWER ENGINEERING AND GENERATION • 2006: foundation of Solairedirect2013: in the global top 10 solar power companies with 400 MW in operation/construction and 2 000 MW under development • Innovative integrated business model designed to cut costs and risks : project development, design and EPC, structured financing and legal engineering, O&M, power sales and grid services Mission: making solar power competitive with other sources of energy • Public/private partnerships and local content manufacturing Innovative approach in engaging communities • Presence across 5 continents Competitive bidder in government tenders and PPAs in France, India, South Africa, Chile and the US with prices down to less than 6 Rs/kWh • Revenues of 126 M€ and net profit of 10 M€(2012) with 250 employees 700 M€ raised in equity and project finance

  3. SOLAIREDIRECT INDIA: SETTING THE STANDARDS IN COMPETITIVENESS AND DOMESTIC CONTENT • Competitive solar power generationDecember 2011: best bidder in the NSM with a 7.49 Rs/kWh bid June 2013: selected in Punjab tender (20 MW) • Domestic content manufacturing First projects (Pokaran, 16 MW) with cells, modules and inverters 100% made in India • Official recognition Inauguration by his Excellency Dr. Farooq Abdullahin June 2013 • Innovative offers and business models Private PPAs, hybrid power offers…

  4. FEEDBACK FROM EXPERIENCE: HIGHLIGHTS AND CHALLENGES HIGHLIGHTS • Record timing for development, construction, grid connection and debt financing • December 2011: selection of Solairedirect India as the best bidder in the NSM auction • April 2012: securing of land and conversion • June 2012: procurement of locally manufactured electrical systems (Schneider Electric), cells and modules (PV, crystalline silicon) • August 2012: launch of construction of double 16 MW project by Solairedirect teams • January 2013: completion of grid transmission line • February 2013: commissioning of the solar park • March 2013: closing of non recourse debt financing with State Bank of India • Optimal quality standards (joint Indian/European approach) • Record EPC costing (especially BOS) CHALLENGES • Availability of proper evacuation capacity • Availability/affordability of land in certain states (Punjab) • Maturity of equity markets (matching the risk/return profile of solar generation assets)

  5. BEYOND GOVERNMENT TENDERS: INDIA’S POWER DEFICIT AS A CHANCE TO LEAPFROG • Solar power generation still minuscule in IndiaOnly 1.7 GW installed at FYE 2013 (1.5% of world capacity, 0.2% of India’s total power generation) • Present industry focus: government tenders NSM Phase 2 (750 MW), state programs (with mixed experience such as in Gujarat, Tamil Nadu…) • The real opportunity: India’s growing power deficit Compelling case for an abundant, competitive, quick-to-deploy energy source, displacing imports (diesel…) • How to unlock this extraordinarily huge potential? At around 6 Rs/kWh (escalated), everything becomes possible if… Global power shortfall (in GW, exc. OECD and China, source: Aggreko)

  6. THE PATH TO GRID PARITY: DEVELOPING NEW BUSINESS MODELS, OVERCOMING CHALLENGES DEVELOPING NEW BUSINESS MODELS • PPAs with large power users: private (cement, steel, manufacturing, retailers…) or public (municipalities, townships, business parks, utilities…) • Trading on power markets (electricity and RECs) • Energy services (hybrid power offers, rooftop leasing, demand response, mini-grids, smart grids…) • Solar IPP and/or service provider, third-party financing OVERCOMING CHALLENGES • Competitiveness versus otherwise subsidized energies • Load profile matching • Bankability of revenue models and counterparties • Access to land and power evacuation • Open access regulation and terms

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