GROWTH IN PURE ENERGY Nordic Energy Summit, 20 th March 2014 Christian Rynning-Tønnesen, CEO, Statkraft
Jun 14, 2015
GROWTH IN PURE ENERGY Nordic Energy Summit, 20th March 2014
Christian Rynning-Tønnesen, CEO, Statkraft
Growth in consumption – dependent on region
2
Power demand 2000 -2012
Climate change
3
Egham, UK, February 2014
EU’s climate and energy targets
Agreed EU targets for 2020 - 20 % GHG-reduction - 20 % renewables consumption - 20 % energy efficiency
Proposed EU targets for 2030 - 40 % GHG-reductions - 27 % renewables consumption
EU ambition for 2050 - 80-95 % GHG reduction
4
Germany’s plan: «Energiewende» Switch from coal and nuclear to renewables
0
100
200
300
400
500
600
700
2005 2010 2015 2020 2025 2030 2040 2050
ConventionalRenewables
5
Power production in Germany 2005-2050, TWh per year
Source: DLR and Fraunhofer IWES
Coal prices lower than gas prices
6 6
0
10
20
30
40
50
60
Combined Cycle Gas Turbine Coal
Variable operating costs (€/MWh)
EEX power price, base, Germany 2014
CO2 costs
Fuel costs
Variable OpEx
Solar PV in Germany
7
Feed-in tariff Feb. 2014
Flat packed solar power
8
Changes in EU electricity generation 2013
9
-10000
-5000
0
5000
10000New
Decommissioned
MW
Source: EWEA
Wind PV Gas Coal Biomass Hydro CSP Fuel oil Nuclear
Power prices in Europe
10
0
10
20
30
40
50
60
70
2000 2005 2010 2015 2020
€/ M
Wh
Nordic System Price Germany - Phelix
A German summer week 2022
Source: Agora Energiwende
Biomasse baseload Biomasse CHP Bioigas Biomethane Hydropower Onshore wind Offshore wind Photovoltaic Conventional Power demand
Mon Tue Wed Thu Fri Sat Sun GW
National capacity mechanisms implemented
12
Existing capacity market
Planned capacity market
Global investments in renewables and fossil electricity
13 Source: UNEP Global Trends in Renewable Energy Investments 2011, 2012 and 2013
0
50
100
150
200
250
300
350
2010 2011 2012
Renewables incl. large hydro Fossil Fuel
$bn
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ABOUT STATKRAFT
Blåsjø, March 2014
2013:
Statkraft at a glance
Peru 163 MW (+ project)
Chile 94 MW
Turkey 20 MW (+ projects)
Nepal 21 MW
Philippines 179 MW
Brazil 77 MW
Panama (project)
Zambia 7 MW
Norway 12 518 MW Sweden
1 315 MW Finland 66 MW
UK 273 MW
Laos 100 MW
Germany 2 692 MW
India 82 MW
Installed capacity*
17 600 MW Power production* 56 TWh
97% renewable energy 3 600 employees
AGUA IMARA
SN POWER
STATKRAFT
Includes: - Statkraft’s share of installed capacity - Statkraft SF’s share of installed capacity in Laos
Albania (project)
Statkraft financial development 1992-2013
16
-
5 000
10 000
15 000
20 000
25 000
30 000
35 000
40 000
45 000
50 000
1992 -93 -94 -95 -96 -97 -98 -99 2000 -01 -02 -03 -04 -05 -06 -07 -08 -09 -10 -11 -12 -13
NOK million.
Gross revenues
EBITDA
1992-2003: Statkraft SF – From Income Statement (unadjusted) 2004-2013: Statkraft AS – Underlying figures – Adjusted for unrealised changes in value on energy contracts and significant non-recurring items
10 042
402 278 507 132
1 584
-501
3 458
640
NordicHydropower
Continental Energyand Trading
InternationalHydropower
WindPower
DistrictHeating
IndustrialOwnership
Others/eliminations
Underlying* EBITDA Share of profit from associates
2013 Segment financials
17 * Adjusted for unrealised changes in value on energy contracts and significant non-recurring items
NOK million
Underlying* EBITDA and Share of profit from associates
District Heating
Statkraft’s ambition: Leading international company in pure energy
European Flexible Generation
Wind Power
Hydropower in Emerging Markets
Trading and Origination Investments directed to
1) Regulated income in Europe
2) Growth in emerging markets
18
Nordic hydropower
19
Germany’s largest operator of renewable energy
Direct sales of 8.700 MW in Germany - 5000 MW is remote controlled
Markets share: 25% of German wind power
Statkraft turns local power production into a big virtual renewable power plant
8 700 MW – market access 5 000 MW – remote control
20
Strengthening International Hydropower
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1st April 2014: Statkraft to integrate South America and South Asia
New SN Power to focus on South East Asia, Africa and Central America
Statkraft SN Power
Alltwalis
Stamåsen Mörttjärnberget
Björkhöjden Ögonfägnaden
Hitra Smøla
Onshore and offshore wind power in the Nordics and UK In operation/under construction
- Norway: 244 MW - Sweden: 525 MW - UK: 460 MW
Licensed/under development - Onshore: Norway 735 MW
Sweden 290 MW UK ~ 50 MW
- Offshore: Dudgeon 402 MW Dogger Bank 7200 MW
Em Tollarpabjär
Dudgeon Sheringham Shoal
Dogger Bank
Berry Burn
Baillie
Kjøllefjord
22
23
Innovation in Statkraft
R&D programs Exploration activities
Future Hydro Power
Competitive Wind Power
Energy from Biomass
Consequences of Climate Change
Distributed energy
Solar PV
Energy Storage – battery
Biofuel
24