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Corporate Information
Overview of TPCH, subsidiaries, and partners
Agenda
• Business Background & Overview
• Business Strategy
• Project Overview & Progress
• Business Performance
• Q&A
• Appendix
2
Overview of TPCH, subsidiaries, and partners • Business Background & Overview
3
Key Milestone
2010 2011 2012 2013 2014
TPOLY joined shareholding of CRB 65.0 percent.
TPOLY established TSG, and sold shares to EnBW by having the ratio of 65.0 and 35.0 percent, respectively.
TPOLY established TPCH to hold shares of biomass power plants instead of it.TPOLY transferred all shares of BBRP, CRB, and TSG to TPCH.
CRB commenced commercial operation on March 15, 2013 and issued PP 10 million shares at a price of 33 THB for preparing funds to the construction of power plants of MGP, TSG, and BBRP
TPCH bought MGP shares 46.0 percent
TPCH established PTG and PGP
TPCH bought MWE shares 85 percent
TPCH established SGP
TPCH registered as a public company 19 Jun 2014
TPOLY invested inBBRP 85.0 percent
Current Targets1.Win more biddings of Biomass
projects (At least 50MW)
Three-year targets1. Having PPAs of biomass power plants on
hand in total of not less than 150 - 200 MW2. Having PPAs of waste-to-energy power
plants on hand in total around 50MW3. Acquisition of the business of energy with
both domestic and international.4. Having PPAs of hydroelectric power plant in
Laos at least 80 MW
2017 20202015
TPCH was listed on MAI on January 8th ,2015. Fund raising amount 1.1 billion THB.
The company registered capital 401.2 million THB ,payment of 400 million THB
MWE commenced commercial operation on October 12, 2015
Ongoing development projects in the future, including PTG, which in 2014 has begun to apply for the PPA and the other important contracts.
2016
MGP commenced commercial operation on April 8, 2016
Won Bidding of Biomass in 3 southern part of Thailand for 26 MW and Invested in Siam Power waste power plant for 10 MW
TSG commenced commercial operation on October 3, 2016
PPA on Hand (MW) 2015 2016 2017 2018 2019 2020
BIOMASS 20 86 150 200 200 200
HYDROPOWER - - - - 50 80
WASTE - - 10 20 20 504
Board of Directors
Ph.D Thanu KulacholChairman of the Board
Mrs. Kanoktip ChanpalangsriChairman of Executive Board
Mr. Chainarong ChanpalangsriDirector
Mr. Cherdsak WattanavijitkulDirector & President
Mrs. Boontipa SimaskulDirector / Chairman of the Independent Audit
Mr. Thanwa TheeravitayalertDirector / Independent Audit
Mr. Norachai SripimolDirector / Independent Audit
Mr. Roongsak BoonchouDirector & Executive Director
Mr.Pathompol SaosapDirector & Executive Director
Mr. Vikul LohamongkolExecutive Director
Mr. Jackrit PongprasertExecutive Director
5
Renewable Energy Industry Overview
25% of the plan is Renewable Energy
Supported and Promoted by Government
• BOI
Biomass is second highest demand in the sector
Agricultural Country
Type Waste Biomass Biogas Hydro Wind Solar Energy Crops Total
2015/2015 48 2,199 226 3,016 220 1,570 - 7,279 2015/2037 501 5,570 600 3,282 3,000 6,000 680 19,633
Environmental Benefits
Jobs and the Economy
Sustainability
Source: Ministry of Energy6
Investment Opportunity in 2017
Total capacity
of 589 MW
SPP Hybrid Firm VSPP Semi-Firm
Target 300 MW 289 MW
Capacity Small Power Producer (Capacity 10 MW < 50 MW)
Very Small Power Producer (Capacity < 10 MW)
Tariff
FiT Competitive bidding FiT : 3.66 Baht
FiT f : 1.81 BahtFiT v : 1.85 Baht (core inflation)
FiT Competitive biddingBiomass : 4.24-4.82 Baht/UnitBiogas (Waste) : 3.76 Baht/UnitBiogas (Energy crops) : 5.34 BahtPremium: 0.30-0.50 Baht/Unit
Fuel ≥ 1 type of alternative energy,
Energy storage is acceptable
Biomass, Biogas (Waste), Biogas (Energy
crops), and Energy storage
Contract
Firm Capacity factor 100% during PeakCapacity factor ≤ 65% during Off-Peak
Semi-FirmFirm: 4 months (March-June)Capacity factor 100% during PeakCapacity factor ≤ 65% during Off-Peak
Non-Firm: 8 months
SCOD 2020 2019
Vision Mission and Business Goal
Giving Back
Environmental Stewardship
Respect & Reputation
Social Responsibility
8
Overview of TPCH, subsidiaries, and partners • Business Strategy
9
Headquartered in Karlsruhe, Germany and Germany's third-largest utility
Trade, transport, sells energy and operate in the fields of electricity and gas as well as energy and environmental services
Revenue in excess of € 18 billion in 2011 with 20,000 employees and 6 million customers
Installed electrical output of around 13,500 MW in Germany and Europe
Our Partners : Engineering & Technology
CarbonBW is a 100% subsidiary of EnBW, dedicated to the development, investment, technical implementation, operation, control and management of CDM projects (Clean Development Mechanism) regulated by the United Nation Framework Convention on Climate Change.
10
Our Partners : Experience & Efficiency
OPERATORS
• Extensive experience in operating Biomass power plants
• Good relationship with owners of fuel and local communities
• Finding fuel
• Maintenance and repair machinery used in power plants
• Consultancy service company
• Project development of power plant
• biomass survey and verification
• Feasibility study
• Permit and license application
• Project management
• Electrical installation, Testing, & Commissioning
• Preventive maintenance
• Construction on turnkey basis
• Supply electrical equipment.
11
Our Partners : Sustainability & Relationship
• The biggest rubber wood manufacturer in the three southern border provinces of Thailand.
• Revenue in excess of 400 million THB in 2014 with 500 employees.
• Having over 20 years of experience in the young coconut industry both in farming and trading.
• Process over 40,000 coconuts daily, 90% of premium product is exported to Asia, Europe, North America, Russia, Australia, and New Zealand
SUPPLIERS
• One of the biggest rubber wood manufacturers in ASEAN.
• The biggest group of rubber wood manufacturer in the south of Thailand.
• Having numerous sawmills in 6 provinces of the south of Thailand.
12
Our Strategy & Models
• Outsourcing on operation
• Risk Management
• Having a contract with each operator on annual electrical unit produced
• High Efficiency
• Cost Control
• Fixed margin on COGS (Including Fuel and maintenance)
Outsource
•Ability to lower COGS•Knowledge•Best Technical Staff•Self- Reliance
Self Operate
13
Pow
er P
lan
ts
CRB
MWE
TSG
MGP
Company Structure : TPCH
บริษทั ไทยโพลีคอนส์ จ ำกดั (มหำชน)Thai Polycons Public Company Limited
41.26%
บริษทั ไทยโพลีคอนส์ จ ำกดั (มหำชน)Minor Shareholders (Free float)58.74%
TPC Power Holding Public Company Limited
GPP 10%Chor Prommarak 5%
EnBW 46%GPPG 5%NC 3%
46%
Mahachai Green Power CO,.LTD
Maewong Energy Company Limited
Pattani Green Power Company Limited
TPCH Power 1 Company Limited
TPCH Power 2 Company Limited
85%
65%
Chang Raek BiopowerCompany Limited
73.1%
VSPP 16.9%EnBW 10.0%
60%
51%
65%
EnBW 35%Thungsung Green Company Limited
Satun Green Power Company Limited
Pattalung Green Power Company Limited
WWE 40%
WWE 40%GPP 9%
Narapara 25%GPP 10%
Narapara 25%GPP 10%
Narapara 25%GPP 10%
65%
65%
Siam Power Company Limited
Existing Shareholders 50%
50%
Yala
Yala
Narapara 25%GPP 10%
TPCH Power 5 Company Limited
65% Narathiwat
PA Waste & Energy Company Limited
Existing Shareholders55%
45%
13
Strategy on Locations
Nonthaburi
SamutSongkhram
Samut
Sakhon
Samut
Prakan
Biofuel from Rubber Tree
•Numerous amount of supply
•Non seasonal Tree
•Low fluctuation in price
Surge Voltage of
33kV
•Only in the southern part of Thailand
•High capacity up to 9.2MW
Good Relationship
•TPOLY has been working in the area for almost a decade
15
Overview of TPCH, subsidiaries, and partners • Project Overview & Progress
16
Progress Report of Projects on Hand
Permission Period Construction Period
Q2 2018 (2561)
Q3 2017 (2560)
Q2 2017 (2560)
Q4 2016 (2559)
Q2 2016 (2559)
Q4 2015 (2558)
Q1 2013 (2556)
SCOD
Q4 2018 (2561)
Q4 2018 (2561)
Q4 2019 (2562)
Q4 2018 (2561)
Q2 2019 (2562)
9.5 / 9.2
9.9 / 9.2
9.9 / 9.2
9.9 / 9.2
9.9 / 8.0
9.9 / 8.0
23 / 21
23 / 21
9.9 / 9.2
9.9 / 9.2
9.5 / 8.0
6.3/ 6.3
Total Installed Capacity = 142MWTotal Sell Capacity = 127.5 MW
Operation40MW
Construction20MW
Development82MW
SPP:46MWBidding:26MWWaste:10MW
17
0% 50% 100% 150% 200%
PTG 2
SP
TPCH 5
TPCH 2
TPCH 1
PTG 1
SGP
PGP
TSG
MGP
MWE
CRB
PPA
PPA
PPA
EIA&LOI
EIA
RG.4
Overview of TPCH, subsidiaries, and partners
International Project
MoU of Xebanhieng 1TPC Power Holding Public Company Limited has signed a Memorandum of
Understanding (MoU) on February 2, 2017 with the Laos government to obtain permission for the feasibility study of the Sebanghieng1 Hydropower Project at
Savannakhet Province, Lao PDR with an installed capacity of 52.10 MW.
18
• Feasibility study
• EIA
18 Months
• Project Development Agreement (PDA)
• Power Purchase Agreement (PPA)
• Concession Agreement (CA)
6 Months
• Construction
24 months
Overview of TPCH, subsidiaries, and partners • Business Performance
19
9.9 MW BIOMASS POWER PLANT PROJECTCommercial of Date (COD) : 15 March 2014
20
Performance of CRBPower units sold per Day (thousand units)
20
0
50
100
150
200
250
In T
ho
usa
nd
Daily Production of CRB
Goal Line ProductionsAverage Capacity Factor 95%Target: 90% (~200,000 units/day)
Plant Trip
Maintenance Shutdown
9.9 MW BIOMASS POWER PLANT PROJECTCommercial of Date (COD) : 12 October 2015
22
Performance of MWEPower units sold per Day (thousand units)
22
-
25
50
75
100
125
150
175
200
Tho
usa
nd
s
Daily Production of MWE
Goal Line ProductionsActual Capacity Factor 96%Target : 90% (~173,000units/day)
Maintenance Shutdown
Maintenance Shutdown
Plant Trip
9.5 MW BIOMASS POWER PLANT PROJECTCommercial of Date (COD) : 8 April 2016
24
Performance of MGPPower units sold per Day (thousand units)
24
-
25
50
75
100
125
150
175
200
Tho
usa
nd
s
Daily Production of MGP
TEST RUN
Goal Line ProductionsActual Capacity Factor from August 1, 2016: 95%KPI: 90% (~173,000 units./day)
FINE TUNE
Plant Trip
Maintenance Shutdown
9.9 MW BIOMASS POWER PLANT PROJECTCommercial of Date (COD) : 3 October 2016
26
Performance of TSGPower units sold per Day (thousand units)
26
0
50
100
150
200
250
3/Oct/16 3/Nov/16 3/Dec/16 3/Jan/17 3/Feb/17 3/Mar/17
Tho
usa
nd
s
Daily Production of TSG
Goal Line ProductionsActual Capacity Factor from December 1, 2016: 93%KPI: 90% (~200,000 units./day)
TEST RUN
Plant Trip
Maintenance Shutdown
Average Availability per Power Plant
27
83%91%
42%
0%
87%
98%
79%
0%
99%92%
98%
82%
97%90% 87% 88%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
CRB MWE MGP TSG
Q2-2016 Q3-2016 Q4-2016 Q1-2017
Electricity Unit Sold to PEA
16,817,968 15,872,433 7,381,438
17,589,569 17,219,983 13,840,946
19,954,294 16,157,505 17,237,022 16,513,828
19,461,677 15,748,273 15,315,488 17,793,725
Q2-2016
Q3-2016
Q4-2016
Q1-2017
Revenue and Net Profit Report
28
4 7 1246 31
81131
201
1 8 1222 10
19
36
59
5 15 24
6841
100
167
260
0
50
100
150
200
250
300
3M2015 6M2015 9M2015 1Y2015 3M2016 6M2016 9M2016 1Y2016
Mill
ion
Bah
t
Net Profit
Major Minor Net Profit
0
100
200
300
400
500
600
700
3M2015 6M2015 9M2015 1Y2015 3M2016 6M2016 9M2016 1Y2016 3M2017
59121
178
305
132
283
438
672
236
21 45 65124
61127
215
327
117
5 15 2468 41
101167
260
89
Mill
ion
Bah
t
Annual Comparison
Revenue Gross Profit Net Profit
Revenue and Net Profit Report
28
59
132
236
21
61
117
5
41
89
0
50
100
150
200
250
3M2015 3M2016 3M2017
Mill
ion
Bah
t
Annual Comparison
Revenue Gross Profit Net Profit
431
64
1
10
25
5
41
89
0
20
40
60
80
100
3M2015 3M2016 3M2017
Mill
ion
Bah
t
Net Profit
Major Minor Net Profit
3 Driver of Net Profit
1 PowerPlant
2 PowerPlant
3 PowerPlant
4 PowerPlant
4th Power Plant
3rd Power Plant
2nd Power Plant
1st Power Plant
SG&A
SG&A Cost Fixed : Net Profit Add OnTechnology Reduce Fuel Consumption
Reduction of Interest Rate
1st Project 2-4th Projects New Projects
MLR-1.25 MLR-1.50 MLR -2.00
* Current MLR 6.25%
* Increase 10% efficiency 31
0.00
100.00
200.00
300.00
400.00
500.00
600.00
700.00
800.00
900.00
1000.00
2013 2014 2015 2016 2017 2018 2019 2020
CRB53.73
CRB74.82
CRB73.91
CRB73.97
CRB70.20
CRB70.20
CRB70.20
CRB70.20
MWE14.30
MWE65.18
MWE62.40
MWE62.40
MWE62.40
MWE62.40
MGP38.46
MGP62.40
MGP62.40
MGP62.40
MGP62.40
TSG16.51
TSG70.20
TSG70.20
TSG70.20
TSG70.20
PGP49.14
PGP70.20
PGP70.20
PGP70.20
SGP31.59
SGP70.20
SGP70.20
SGP70.20
PTG 181.90
PTG 1163.80
PTG 1163.80
Siam Power59.28
Siam Power62.40
TPCH 168.17
TPCH 170.20
TPCH 268.17
TPCH 270.20
TPCH 546.68
TPCH 549.14
PTG 2155.61
Un
it in
Mill
ion
TPCH : Forecast of Amount of Electricity Sold by Year
53.73
194.12
74.82
345.93
88.21
487.50
811.70
976.95
Price per Unit
FiT FiT Adder(3 Provinces)
Bidding
5.78 4.54 3.79 3.2
30
Provincial Electricity Authority
• VSPP•Very Small Power Producer (Capacity < 10 MW)
Metropolitan Electricity Authority
• VSPP• Very Small Power Producer (Capacity < 10 MW)
•Bangkok, Nonthaburi, & Samut Prakan
Electricity Generating Authority of Thailand
• SPP = Small Power Producer
(Capacity 10 MW < 90 MW)
• IPP = Independent Power Producer
(Capacity > 90 MW)
TPCH’s Project Summary
Operating
• 40 MW
• CRB
• MWE
• MGP
• TSG
Construction
• 20 MW
• PGP
• SGP
Development
• 26 MW
• TPCH1
• TPCH2
• TPCH5
Development
• 46 MW
• PTG1
• PTG2
Development
• 10 MW• Siam Power
33
Dividend Payout
34
0
10
20
30
40
50
60
70
80
90
CRB MWE
85.090.0
62.1
76.5
2016 Dividend Payout Performance(M.THB)
Dividend TPCH's Dividend
73.1% 85%
Follow : Fan page and Website
35
Investor Relation : Contract