Upload
manasa
View
40
Download
0
Embed Size (px)
DESCRIPTION
Bartłomiej Pawlak , CEO, BOŚ Eko Profit. Tel- Aviv , November 2013. Clean-tech sector in Poland Opportunities and challenges. Plan of the presentation. Bank for Environmental Protection (BOŚ) and BOŚ Eko Profit – who we are Is clean-tech sector attractive in Poland? - PowerPoint PPT Presentation
Citation preview
Slajd 1 z 20
CLEAN-TECH SECTOR IN POLANDOPPORTUNITIES AND CHALLENGES
BARTŁOMIEJ PAWLAK, CEO, BOŚ EKO PROFIT TEL-AVIV, NOVEMBER 2013
Slajd 2 z 20
Plan of the presentation
1. Bank for Environmental Protection (BOŚ) and BOŚ Eko Profit – who we are
2. Is clean-tech sector attractive in Poland? 3. Renewables in Poland – before the new opening4. Waste management – a need for investment5. High-tech, competitive edge energy solutions 6. How BOŚ and BOŚ Eko Profit could be helpful for the Israeli
investors?
Slajd 3 z 20
I.BANK FOR ENVIRONMENTAL PROTECTION (BOŚ) AND BOŚ EKO PROFIT – WHO WE ARE
Slajd 4 z 20
4
Ownership structure as of 2013 Business overview
BOŚ is a listed company but the majority shareholder is still the State Treasury
4.3%National Forest
Holding
56.6%
National Fund for Environmental Protection and
Water Management
39.1% Others
Public Finance
Retail business
Corporate business
32% 40% 28%
% of total loan portfolio
• Project finance
• Investment loans
• Factoring• Trade finance
• Project finance
• Financing of municipalities
• Brokerage house• Leading position in the market of
forward contracts
• Capital investments• Business consulting
Our key focus across all three key business areas is on environmentally friendly
projects
• Mortgage loans• Deposit and
current accounts• Credit cards
BOŚ – medium size bank focused on clean-tech
Slajd 5 z 20
5
1. Consolidated data
Capabilities in eco-finance projects
Leader on the eco-finance market (more than EUR 3bn loans granted in 1991-2013; EUR 9bn worth of investments co-financed); 50% market share in pro-ecological projects financing, internal team of experts specialised in ecological project financing, offering financial and legal consultation.
Well-established relationship with customer – a significant market share in financing local government units and municipal companies (around 10% at the end of 2010)¹
Knowledge and experience in financing public
finance sector
Cooperation with European financial institutions
Cooperation with European financial institutions (EIB, CEB, KfW, NIB) in raising funds, that can be used to finance investment projects (value of assets acquired through cooperation with foreign commercial banks amounted to EUR 85.3m and CHF 37.5m).
Short and simple decision making process - credit decisions are made in the same place where the loan procedure takes place
Headquarters in Warsaw
BOŚ Bank – experience + simple decision making process
Slajd 6 z 20
BOŚ Eko Profit S.A. is an investment company that extends and supplements bank’s offer in clean-tech sector, offering comprehensive packages of services:
EQUITY + LOAN + CONSULTING opportunity of raising capital or debt financing for those who develop their business projects via SPVs, engagement in projects: 1 up to 5 years, wide consultancy knowledge: from business model and structuring the project to exit strategy, various financing forms: equity, loans, subordinated, converted loans (mezzanine finance), complex and flexible approach: majority or minority shareholding widespread solutions for seed capital and big players
Exit Exit StrategyStrategy
BOŚ Eko Profit – more than the investment fund
Slajd 7 z 20
II.IS CLEAN-TECH SECTOR ATTRACTIVE IN POLAND?
Slajd 8 z 20
EU policy goes along with the global trends such as Kyoto Protocol and the UN policy. Protection of the environment, reduction of CO2 emissions, recycling, waste management.
EU legislation goes from indicative to legally binding direction in renewable energy, cogeneration, waste and water treatment.EU members who do not comply with the regulations are subject to possible fines, losing EU financial support and other negative consequences.The new EU budget of 2014-2020 will continue policy of strengthening local pro-ecological solutions.
For clean-tech solutions EU wants to spend in Poland EUR 12.4bn. The funds will be allocated according to two thematic objectives:
Supporting the shift towards a low-carbon economy in all sectors Protection of natural environment and supporting efficient use of resources
EURO Directive 2009/28/EC of the European Parliament and of the Council of 23 April 2009 on the promotion of the use of energy from renewable sourcesDirective 2004/8/EC of the European Parliament and of the Council of 11 February 2004 on the promotion of cogeneration based on a useful heat demand in the internal energy marketDirective 2008/98/EC of the European Parliament and of the Council of 19 November 2008 on wasteCouncil Directive 1999/31/EC of 26 April 1999 on the landfill of wasteCouncil Directive 1991/271/EEC of 21 May 1991 concerning urban waste water treatment
1
The main growth drivers are EU regulations and standards
Slajd 9 z 20
Growth drivers for pro-ecological projects
9
EU requirements and Poland’s commitments
CO2 emissions reduction by 20% by 2020 from 1990 levels 19% share of renewable energy sources by 2020 (from approx. 9.5% in 2010) 9% reduction in the national energy consumption by 2016 compared to 2001-2005 average Reduction of biodegradable waste disposed of at landfills by 70% by 2020 (from 1995 levels) 60% packaging reuse and 55% recycling level targets for 2014 (currently 53% and 35%)
Increase of demand
Growth in demand for electricity and heat by 4.5% and 9% respectively in 2010-2015 Increase in generated municipal waste volume by 18% in 2011-2022
Price increase
Renewable energy sources and cogeneration – alternatives to conventional energy sources
Co-financing from national and foreign sources
EU support for pro-ecological initiatives – approx. EUR 18bn in 2011-2014 National programmes – approx. EUR 10bn in 2011-2014
Technology development
New eco-friendly technology solutions, increasing efficiency of pro-ecological projects
Increase in eco-consciousness
Public support for pro-ecological initiatives Popularization of the concept of corporate social responsibility
Slajd 10 z 20
Estimated market size of pro-ecological projectsSegment
2020201520132010
EUR 1.5 billionEUR 1.5 billion Waste management
Cogeneration EUR 2.6 billionEUR 1 billion
2016
Estimated expenditure for 2011-2020
Source: Deloitte analysis based on: GUS, Ochrona Środowiska 2010 (Environmental Protection 2010), Warszawa, 2010 r.; Krajowy plan gospodarki odpadami 2014 (National Waste Management Plan 2014), Warszawa, 2010 r.; Deloitte, Fortum, 4P Research Mix: Gospodarka odpadami w Polsce 2011 (Waste Management in Poland 2011), Warszawa, 2011 r.; Andrzej Reński: Perspektywy rozwoju skojarzonego wytwarzania ciepła i energii elektrycznej w Polsce (Perspectives on the development of electricity and heat cogeneration in Poland), Rynek Energii, nr 6/2008; Instytut Energetyki Odnawialnej (Institute of Renewable Energy): Atrakcyjność inwestycji w energetyce odnawialnej do 2020 r. (Attractiveness of renewable energy investments till 2020), 2010 r.; Ministerstwo Gospodarki (Ministry of the Economy): Krajowy plan działania w zakresie energii ze źródeł odnawialnych (National action plan on energy from renewable sources), Warszawa 2010 r.,
Expected volume of BOŚ pro-ecological loans in 2011-2020 is EUR 2bn, of which EUR 1bn by 2015
EUR 4 billionEUR 5 billionRenewable energy
sources
Wastewater treatment and water protection
EUR 12 billion
10
Slajd 11 z 20
III.RENEWABLES IN POLAND – BEFORE THE NEW OPENING
Slajd 12 z 20
Renewables – chance for stability and growth
The fastest growing sector of the Polish economy within the last couple of years till 2012 Over EUR 3bn engaged by the banking sector in renewables in Poland Ineffective current support system based on so called „green certificates” slowed down the
market for months; GC prices dropped below the level of financial effectiveness of many RES projects.
However, the 2020 targets according to National Action Plan (2010) of CO2 reduction and growth of green energy production are in danger.
In October 2013 the Ministry of Economy announced a new draft legislation that should reduce or eliminate some of the growth barriers of RES sector in Poland:
The new approach: any new or existing green energy producer will have a choice: either to stay with the existing support system for (in total) 15 years or they will be able to switch to the new one – based on auctions with the same time perspective of 15 years of stable feed-in-tariff price.
Recent news and stabilization of the GC price has encouraged investors to start new RES projects
Slajd 13 z 20
Prosumer – the new category of energy producer
In 2013 the already implemented changes to the existing legislation created a new factor on the green energy map: the prosumer.
Prosumers are those small investors who consume most of the energy produced by themselves end sell the surplus of the production to the grid.
Today there are 1000 green energy producers in PL vs. 4 000 000 in the UK. Prosumer opens the door for small RES instalations in Poland i.e. PV panels
on mass scale according to simplified procedures. Prosumers are the new category of the producers of energy – in 2014 there
will be new programs to support their business by donations or preferential loans.
This process will require both high-tech solutions and financing at the large scale
Slajd 14 z 20
IV. WASTE MANAGEMENT – A NEED FOR INVESTMENT
Slajd 15 z 20
Act on maintaining cleanliness and order in municipalities
Implemented on 1 July 2013 – beginning of the long and costly process. The new law took the management of the municipal waste from the hands of the private
sector and gave it to the municipalities Almost all Polish municipalities finalized tenders for the waste collecting companies
operating in their areas.
Money for waste collection goes directly to the municipal budget and should be spent on the new investments directly or through SPVs created with private investors (i.e. via PPP
solution). Poland is on the very beginning of this road.
Poland is obliged to reduce the number of biodegradable waste disposal sites and increase the level of incineration, selection, utilization, reuse and recycling.
The value of the waste market is EUR 1.5bn
The investors are waiting for the new grants & preferencial loans that will come into effect from 2014.
Slajd 16 z 20
V. OTHER OPPORTUNITIES OF THE CLEAN-TECH SECTOR
Slajd 17 z 20
Opportunities for high-end solutions
New challenges for Poland:Efficient power and heat energy storage systems which support the stability of the grid Dispersed model of energy production - based on households ‘ on-grid solutions as:
small biogas plants, solar panels, PV panels, heat pumps, Smart grid solutions, dynamic tariffs, system of monitoring and remote control . Energy efficiency solutions programs – for street lights, offices, factories, shopping malls.
All of these sectors require huge investments and transfer of know-how
Clean-tech will be one of the fastest growing sectors of the Polish economy within the next couple of years.
Slajd 18 z 20
VI. HOW BOŚ AND BOŚ EKO PROFIT COULD BE HELPFUL FOR ISRAELI INVESTORS
Slajd 19 z 20
BOŚ and BOŚ Eko Profit – partners for investors
Clean-Tech has been our everyday business since the beginning of 1990s. Credibility & experience - well recognized brand, stable partner, a passport to the
Polish market, other Polish companies, new business opportunities Beachhead - on the Polish market – deep knowledge of rules, regulations, business
environment, people and companies One-stop-shop - equity, debt financing, partnership and consulting Outsourcing - from due diligence, financial model to exit strategy Complex solutions – BOS Group is deeply involved in creating new comprehensive
solutions for the market that need both Polish and foreign partners.
The BOŚ Group business model develops from financial services to the packages of products and turnkey solutions with financing.
Slajd 20 z 20
Thank you for your attention
Bartłomiej Pawlak
BOŚ EKO PROFIT S.A.
Phone: 22 850 85 90
E-mail: [email protected]
www.bosekoprofit.pl