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First Solar FuelSmart ™: Powering Energy Security

First Solar FuelSmart ™: Powering Energy Security. Dr Raed Bkayrat, VP Business Development, Saudi Arabia. First Solar at a Glance. Over 8GW installed worldwide and over 3GW contracted pipeline. Strongest Financial Stability & Bankability in the industry.

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First Solar FuelSmart ™: Powering Energy Security

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  1. First Solar FuelSmart™: Powering Energy Security Dr Raed Bkayrat, VP Business Development, Saudi Arabia

  2. First Solar at a Glance • Over 8GW installed worldwide and over 3GW contracted pipeline Strongest Financial Stability & Bankability in the industry Facilitated approx. $9B USD worth of project financing Driving innovation across entire value chain and plant solution Cost competitive with conventional energy sources today Founded in 1999 and publicly traded on Nasdaq (FSLR)

  3. TOPAZ SOLAR FARM site: San Luis Obispo, USA size:550MW owners: MidAmerican Energy Holdings Company Largest investment grade renewable bond in history

  4. The First Solar Advantage Other PV Providers’ Model = = More Value &Less Risk More Cost &More Risk First Solar’s Model PV energy solutions with superior value and less risk

  5. Making the Case for Fuel Replacement

  6. Solar is Less Expensive than Diesel • PV electricity prices have reduced over 50% • Diesel prices remain highly volatile and have steadily increased Small PV System Median Installed Price 2003–2012 WTI Crude Oil Prices 2003–2013 Sources: Diesel Pricing US Energy Information Administration; Solar Pricing: DOE, Lawrence Berkley National Laboratory

  7. Solar is Cost Competitive with Conventional Energy Sources Today a c b b Gas Combined Cycle Sources: Coal and Nuclear: Bloomberg New Energy Finance LCOE Update: Q2 2013; Gas Combined Cycle, Gas Peaking, and Diesel: Lazard LCOE Sensitivity Analysis June 2013; First Solar: Internal data. (a) Does not include cost of carbon capture. (b) NG = natural gas. LNG = liquefied natural gas. Data assumes natural gas prices of $10 in Northern Europe and $18 in Japan (all in US$ per MMBTU). (c) Assumes diesel prices of $3.00 for India, $4.30 for Australia, and $7.00 for Northern Europe (all in US$ per gallon). Diesel assumes a high end capacity factor of 30% representing intermittent utilization and low end capacity factor of 95% representing base load utilization, O&M cost of $15 per KW/year, heat rate of 10,000 BTU/KWh and total capital costs of $500-$800 per KW of capacity.

  8. PV is Highly Compatible with High Ambient Temperatures • Thermal energy output decreases when PV energy output increases

  9. Solution: The PV Hybrid Mid Speed Engine PV Hybrid Systems combine PV solar generation with a fossil fuel engine generator to reduce fuel consumption and save costs. Low Speed Engine Combustion Turbine High Speed Engine Compatible with any thermal engine technology

  10. First Solar FuelSmart™ Hybrid Systems • Operate as a secondary power source • Will not replace existing thermal infrastructure/fleet • Are commercially viable due to operational fuel savings alone Think of solar as a source of fuel, not just additional capacity.

  11. First Solar FuelSmart™ Benefits • Economic • Operational • Environmental

  12. First Solar FuelSmart™ Benefits • Reduces fuel consumption • Saves fuel costs • Mitigates fuel price volatility risk • PV is highly scalable and repeatable • Allows for phased implementation • Reduces technical and financial risk • Economic • Operational • Environmental

  13. First Solar FuelSmart™ Benefits • Reduces fuel consumption • Reduces imports and increases energy independence • Reduces fuel transportation and logistics • Reduces thermal plant operation time • Extends asset life • Increases redundancy • Reduces O&M • Economic • Operational • Environmental

  14. First Solar FuelSmart™ Benefits • Increases potential revenue via trading credits • Reduces CO2 emissions and noise • Contributes to positive community and PR potential • Aids in overcoming regulatory boundaries for additional capacity for brownfield expansion • Economic • Operational • Environmental

  15. How It Works – Typical Day

  16. How It Works – Typical Day

  17. How It Works – Typical Day

  18. How It Works – Typical Day

  19. How It Works – Typical Day

  20. How It Works – Typical Day

  21. How It Works – Typical Day

  22. How It Works – Typical Day

  23. How It Works – Typical Day

  24. How It Works – Typical Day

  25. Solar is cheaper than diesel. With fixed pricing and no fuel-price volatility, solar represents a meaningful value proposition for anyone burning liquid fuel as their primary energy source. Key Takeaways Think of solar as a source of fuel, not just additional generation capacity. PV hybrid systems are designed to operate as a secondary power source to reduce fuel consumption and are not intended to replace the existing thermal infrastructure. First Solar’sFuelSmart™ solutions effectively combine photovoltaic (PV) solar generation with a fossil fuel engine generator to reduce fuel consumption and save costs.

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