Energy Absolute Public Company Limited
1 Over View 2 Our Power Business 3 Our Biodiesel Business 4 Our Financial Results 5 Our Growth 2
E@ at a Glance In 2006 to produce palm oil Established Renewable Energy Core Business The Stock Exchange of Thailand since 30 Jan 2013 Secondary Market Approximately THB 138.01 billion (US$ 4.6 billion) Market Capitalization Included in the SET50 index from 1 July 2017 onwards As of 25 July 2017 Liquidity Free Float 39.86% Closed price : THB/share ‘ 000 shares 40.00 450,000 400,000 35.00 350,000 30.00 300,000 25.00 250,000 20.00 200,000 15.00 150,000 10.00 100,000 5.00 50,000 0.00 0 Total Volume Closed Price 3
Shareholder Structure Mr.Somphote Ahunai Chief Executive Officer Education • MBA from University of Pittsburgh, USA • Bachelor of Engineering from Chulalongkorn University, Thailand As of 14 March 2017 Previous Work • Analyst and Researcher in USA. • Managing Director of a Securities Brokerage company in 40% Thailand 52% • Managing Director of a Renewable Energy company in Thailand 5% * Mr.Amorn Sapthaweekul 3% Somphote Ahunai (CEO) Deputy to CEO and Chief Finance Officer Amorn Sapthaweekul (CFO) BBL AM Education Others • Master of Science from Chulalongkorn University, Thailand • Bachelor of Business Administration Number of Total Shareholders = 8,223 (Finance and Banking) from Thammasat University, Thailand Previous Work • Investment Banker and Financial Advisor, • Director in a Renewable Energy company 4
Opportunity Base on AEDP 2015-2036 Alternative Energy Development Plan : AEDP 2015-2036 source : The Energy Regulatory Commission (ERC) Target of Alternative Energy = 30 % in 2036 Industrial Solar Wind Mini Hydro Hydro Energy Corp Bioenergy Biofuel Waste 6,000 MW 3,002 MW 376 MW 2,906.4 MW 680 MW 50 MW - Ethanol 11.3 ML/d Biomass Biogas Waste - Biodiesel 14 ML/d 5,570 MW 600 MW 500 MW - CBG 4,800 Ton/d - Pyrolysis Oil 0.53 ML/d In order to support investment in alternative energy according to AEDP, BOI has granted tax privilege. Tax exemptions for the first 8 years and half of tax rate for year 9 th to 13 th 0% 50% of normal rate normal rate 8 13 5
Our Growth and New Business 6
Strong Contribution of Power Business 2013 2014 2015 2016 2Q/2017 Revenue THB mil. % THB mil. % THB mil. % THB mil. % THB mil. % Biodiesel Business 3,733 93% 5,396 71% 5,242 57% 4,890 47% 2,253 40% Power Business 203 5% 2,187 29% 3,956 43% 5,491 53% 3,326 59% Other income 63 2% 18 0% 15 0% 58 1% 34 1% Total Revenue 3,999 7,601 9,212 10,439 53% 5,613 2015 2016 2Q/2017 1% Revenue 43% 47% 40% 53% 57% 59% 1% 0% Net Profit 9% 91% 99% 100% Biodiesel Business Power Business EA is a operational holding company, thus net profit of biodiesel 7 business is including administrative expenses of the group.
1 Over View 664 2 Our Power Business MW 3 Our Biodiesel Business 4 Our Financial Results 5 Our Growth 8
Project Pipeline MW 664 F2018 404 278 188 Solar 98 98 42% Wind 8 58% 278 MW 386 MW + 8 MW + 90 MW + 90 MW + 90 MW Solar Nakorn- Phitsanu- Lopburi Lampang sawan lok Had Kanghan 126 MW (Songkhla and Nakornsritammarat ) Wind Hanuman + 260 (Chaiyaphum) MW 9
Electricity Price Structure Ft Baht/ Adder Base 10 years from Tariff Fuel kWh COD Adjustment Charge Solar Solar Wind Peak Time: 8 Bt. 6.5 Bt. 3.5 Bt. Weekdays 09.00 – 22.00 Nakornsawan HKH 1 = 36 mw 4.22 Bt./kWh -0.2477 Bt./kWh 90 mw Until Mar 2027 Until Dec 2023 for May – Aug 2017 Off-Peak Time: Lopburi Weekdays Lampang HKH 2&3 =90 mw 8 mw 22.00 – 09.00 90 mw + Weekend + Holidays Until Jun 2027 Until Oct 2.36 Bt./kWh Until Feb 2025 2022 Hanuman Phitsanulok Projects 90 mw * From Sep 2017 will be 260 mw Until Apr 2026 -0.159 Bt./kWh 10
Solar Power 278 MW 3 4 Lampang (THB 8.07 bil) Phitsanulok (THB 9.5 bil) Contracted Cap: 90 MW Contracted Cap: 90 MW Installed Cap : 128.396 MW Installed Cap : 133.92 MW Technology: Tracking system Technology: Tracking system COD : 17 Feb 2015 COD : 1 Apr 2016 Land area : 2,354 Rais (930 acres) Land area : 1,800 Rais (732 acres) Adder : 6.50 baht/kwh Adder : 6.50 baht/kwh 2 1 Nakornsawan (THB 6.7 bil) Lopburi (THB 812 mil) Contracted Cap: 90 MW Contracted Cap: 8 MW Installed Cap : 126.126 MW Installed Cap : 9.33 MW Technology: Fixed system Technology: Fixed System COD : 23 Dec 2013 COD : 17 Oct 2012 Land area: 1,858 Rais (735 acres) Land area: 315 Rais (124.5 acres) Adder : 6.50 baht/kwh Adder : 8 baht/kwh 11 Note : 1 acre = 2.529 rais
Wind Power 386 MW 2 Hanuman : HNM (Chaiyaphum) THB 20 bil. Contracted Cap: 260 MW SCOD : Q2-3/2018 Adder : 3.50 baht/kwh 1 Hadkanghan : HKH Status: During Construction (East Coast Southern) THB 10.4 bil. Seasonal of wind in Thailand Contracted Cap: 126 MW COD : HKH 1 = 36 MW COD 3 Mar 17 HKH 2 = 45 MW COD 10 Jun 17 HKH 3 = 45 MW COD 23 Jun 17 Adder : 3.50 baht/kwh Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec P90 (Base case) P50 (Best case) 12
Lopburi Solar Farm 8 MW ESLO : COD 17 Oct 2012 2015 2016 2Q_2016 2Q_2017 Total Power Output (kWh) 14.6 mil. 13.9 mil. 7.11 mil. 6.91 mil. Average Daily Output (kWh) 39,893 37,867 39,077 38,232 Unit : kWh/day 50,000 45,000 40,000 35,000 Daily AVG 2014 30,000 Daily AVG 2015 25,000 Daily AVG 2016 20,000 Daily AVG 2017 15,000 10,000 5,000 - JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 13
Nakornsawan Solar Farm 90 MW ESN : COD 23 Dec 2013 2015 2016 2Q_2016 2Q_2017 Total Power Output (kWh) 189.6 mil. 189.1 mil. 97.23 mil. 95.49 mil. Average Daily Output (kWh) 520,763 516,755 534,499 528,730 Unit : kWh/day 700,000 600,000 500,000 Daily AVG 2014 400,000 Daily AVG 2015 300,000 Daily AVG 2016 Daily AVG 2017 200,000 100,000 - JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 14
Lampang Solar Farm 90 MW ESL : COD 17 Feb 2015 2015 2016 2Q_2016 2Q_2017 Total Power Output (kWh) 191.3 mil. 197.9 mil. 105.48 mil. 109.26 mil. Average Daily Output (kWh) 601,474 540,737 583,399 604,978 Unit : kWh/day 800000 700000 600000 500000 Daily AVG 2015 400000 Daily AVG 2016 300000 Daily AVG 2017 200000 100000 0 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 15
Phitsanulok Solar Farm 90 MW ESP : COD 1 Apr 2016 2016 2Q_2016 2Q_2017 Total Power Output (kWh) 165.6 mil. 60.11 mil. 118.58 Average Daily Output (kWh) 602,221 652,010 656,060 Unit : kWh/day 800000 700000 600000 500000 Daily AVG 2016 400000 Daily AVG 2017 300000 200000 100000 0 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 16
Higher Output from Sun Tracking System Tracker Fixed Daily Average : kWh 656,060 602,221 700000 528,730 513,695 600000 500000 Nakornsawan 400000 Phitsanulok (Tracking) 300000 200000 100000 0 APR-DEC 2016 JAN-JUN 2017 17
Hadkanghan Wind Farm 126 MW Unit : kWh/day Unit : Meter/Second HKH1 : 36 MWh 3 Mar-31 Jul 600,000 12.00 500,000 10.00 Total Power Output (kWh) 20.42 mil. 400,000 8.00 Average Daily Output (kWh) 143,778 300,000 6.00 200,000 4.00 Average Wind Speed (M/Sec) 4.77 100,000 2.00 Average Power Efficiency 16.64% 0 0.00 800,000 10.00 HKH2 : 45 MWh 10 Jun-31 Jul 700,000 8.00 600,000 Total Power Output (kWh) 16.86 mil. 500,000 6.00 Average Daily Output (kWh) 324,292 400,000 4.00 300,000 Average Wind Speed (M/Sec) 6.00 200,000 2.00 100,000 Average Power Efficiency 30.0% 0 0.00 1,000,000 12.00 HKH3 : 45 MWh 23 Jun-31 Jul 10.00 800,000 Total Power Output (kWh) 15.22 mil. 8.00 600,000 Average Daily Output (kWh) 6.00 390,292 400,000 4.00 Average Wind Speed (M/Sec) 6.30 200,000 2.00 Average Power Efficiency 36.10% 18 0 0.00
Quarterly Power Output Unit : Mil. kWh 188 200 165 166 152 144 Total Contract 150 119 105 Capacity 103 98 100 76 56 53 52 51 Solar 50 278 MW 0 Wind 2014 2015 2016 2017 126 MW Q1 Q2 Q3 Q4 Actual power High production from Solar Power Plant is in production 2Q2017 Q2 and low in Q3 23,542,103, EA’s highest output in Q 2/2017 resulted from 7% Solar high season of solar power and COD of 126 Wind MW Wind Power Plant with strong power efficiency. 330,245,165, 93% 19
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