Global Prospective on Renewable Energy from Enel Green Power in North America Toni Volpe Enel Green Power - Head of the North America Area President and CEO of Enel North America, Inc. The 2010 Energy Roundtable conference: A sustainable energy future? Tuesday, October 5th 2010, Calgary, AB
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Global Prospective on Renewable Energy from Enel Green Power in North America
Toni Volpe
Enel Green Power - Head of the North America AreaPresident and CEO of Enel North America, Inc.
The 2010 Energy Roundtable conference: A sustainable energy future? Tuesday, October 5th 2010, Calgary, AB
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COLUMBIA• First operator in
generation (21%)• Second operator in
distribution (15%)• 2,3 mln clients
ARGENTINA• First operator in
generation (16%)• Second operator in
distribution (17%)• 2,3 mln clients
CHILE• First operator in
generation (37%)• First operator in
distribution (32%)• 1,6 mln clients
PERU• First operator in
generation (30%)• Second operator in
distribution (19%)• 1,2 mln clients
NORTH AMERICA• Diversified presence in
the main renewable technologies (hydro, geothermal, wind)
Market shares for distribution calculated per TWh of distributed energy
CENTRAL AMERICA• Hydro and wind power
plants in Costa Rica, Panama, El Salvador and Guatemala
Assets in 23 countries on 4 continentsMore than 90 GW of installed capacity
61 million of clients~ 80.000 employees
Enel: a world dimensionMajor areas of presence
Global Leader in a Growing IndustryEGP global footprint – H1 20100
Source: Company information.Note: Presentation includes consolidated financial and operating data unless otherwise stated.
Capacity as of 30 June 2010 - Production end 2009 PF - Pipeline and in execution data as of 30 June 2010.(1) Ongoing disposal process of Bulgarian assets, which are included in the figures.
EGP presence
North America
Operating 788 MW
Production 2.4 TWh
Footprint in 16 countries across all main renewable technologies
Iberia and Latin America
Operating 2,076 MW
Production 6.4 TWh
Italy and Europe(1)
Operating 2,897 MW
Production 12.0 TWh
Enel Green Power
Operating 5,761 MW
Production 20.9 TWh
Enel Green Power Generation Mix
Installed capacity by technologyH1 2010, GW
2%13%
44%
41%
Production by technology2009 PF, TWh
Source: Company information.
Total = 5.8 GW
Well-balanced asset base
3%
52%
21%
25%
Total = 20.9 TWh
OtherWindGeothermalHydro
The North American AreaAssets overview
Balanced presence in main renewable technologies in US States and Canadian Provinces
CANADA
US
GEO47
WIND379
HYDRO314
TOTAL740
WIND27
BIOMASS21
TOTAL48
GEO47
WIND406
BIOMASS
HYDRO
21
314
TOTAL788
NORTH AMERICA
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Sizeable Market and Positive Macroeconomic Outlook
Abundant Renewable Resources
Political and Regulatory Scenario
Main Drivers in the North America markets
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Total installed capacity in Canada, 2009 (MW) Total renewable installed capacity in Canada,2009 (MW)
Canada Generation Mix in 2009
More than 900 MW of new wind installed capacity in 2009
Source: EER Global Renewable Generation Forecast 2010-2015
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Wind Development Experienced Strong Growth in 2009
• Sizable land availability and quality of wind
resource
• Canada places 9th globally for new wind
installed capacity in 2009
• More than 3,300 MW of wind capacity
• Total electrical output from wind reached
~10,000 GWh/y
Canadian market characterized by attractive fundamentals
Source: IEA wind report 2009
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Further Development of Renewable Energy Will Complement Investments in Traditional Power
• Hydroelectric will continue to be the major source of electricity
• Significant growth expected in wind power
• Additional contribution from biomass, landfill gas, waste heat, solar and tidal wave energy generation
Source: 2009 Reference Case scenario : Canadian energy demand and supply to 2020 . National Energy Board
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Renewable Energy Potential to 2025 (MW)
Source: EER Global Renewable Generation Forecast 2010-2015
• 6.538 MW of installed renewable capacity in 2009
• Expected 38,384 MW of total renewable installed capacity in 2025
• Wind grows at 14% CAGR, while 30% CAGR is estimated for solar PV and 2% for biomass (2009 to 2025)
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Canada Regulatory Framework
Renewable Energy
ecoEnergy for Renewable Power - $1.48 billion program aimed at fostering the development of low impact renewable projects (“ecoENERGY Initiative”);
Accelerated Capital Cost Allowance – Accelerated depreciation rates (30% to 50%), on a declining balance basis, apply to specified clean energy generation, such as wind, hydro and solar. Renewable power developers can therefore deduct the capital cost faster, thus improving after-tax project returns
Canadian Renewable and Conservation Expense (“CRCE”) – Expenditures that qualify as CRCE eligible (e.g. pre-feasibility studies, site preparation, test wind turbines) can be 100%deducted against income and can be transferred to investors
National Initiatives Incentives and mechanisms in Canada
Source: IEA wind report 2009
Feed-in-Tariff - Selected provinces have the mechanism. Ontario’s Feed-in-Tariff program(fit) pays participants a fixed-price (0.135 CAD/kWh) for electricity they generate
Renewable Energy Standard (RES) or Renewable Portfolio Standard (RPS) – Selected provinces have the mechanism. For example Nova Scotia will generate at least 18.5% of its electricity from renewable sources by 2013
Request for Proposal – Quebec held 3 calls for wind power – 1,000 MW in 2003, 2,000 MW in 2005, 500 MW in 2009.
British Columbia – Clean Power Call for up to 5,000 GWh/year of seasonal and hourly firm energy in 2008.
Manitoba Hydro – called for new wind projects totaling up to 300 MW in 2007
Other: net metering, investment found
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Solar PV potential
Resource availability
Source: The Atlas of Canada, Natural Resources Canada
Mean wind speed at 50 m annual (m/s)
Reservoir capacity map
Market fundamentals
Resource fundamentals are interesting and create an excellent potential market
GHG regulation to be further defined
Mix of different incentives schemes at provincial and national level
Enel Green Power Canadian projects
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•Enel Green Power owns and operates 2 projects: 1 wind (27 MW) and 1 biomass (21 MW)
•Enel Green Power partially owns an hydro project in NL
•1 wind project is under construction in Alberta (76 MW) on line by the end of 2011