Corporate Presentation 2012
22
1. Solar photovoltaic global market
2. Siliken Group
3. Siliken strategic strengths
Content3
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15
33
1. Solar photovoltaic global market
44
Solar will lead the renewable energies growth in the next decade with a 42% of
share
Solar installations will lead the renewable energies growth with an estimated volume of 1.100GW in the next 20 years. That is equivalent to 57GW/year, more than double what has been installed in 2011.
Sources: Bloomberg New Energy Finance ‘11
Installed volume forecast by renewable energy 2010-2030 (GW-%)
Wind
Solar
Biomass waste
Biofuels
Heat
0
50
100
150
200
250
300
350
400
450
2005 2010 2015 2020 2025 2030
Wind Offshore
Biomass & waste
SolarSolar
Solar
Wind
Wind
Wind
Wind
Wind offshore
GeothermalCCS
0
500
1,000
1,500
2,000
2,500
3,000
2010 2015 2020 2030
Renewable energies investment 2005-2030 (Bill. USD)
Billions $
9%
42%
45%
3%
1%
GW
55
25.000 MW
20.000 MW
15.000 MW
10.000 MW
5.000 MW
0
-5.000 MW
-10.000 MW
PV
win
d
gas
coal
was
teLa
rge
hydr
o
csp
biom
ass
geot
herm
alS
mal
l hyd
roTi
dal &
wav
e
Fuel
oil
nucl
ear
Renewables installations
Fossil fuel installations
Decommissioned
Within the Solar sector, Photovoltaic leads the yearly installed capacity in the EU and is the second renewable
world wideYearly installed capacity by energy in EU 2011 (MW)
Sources: EPIA/EWEA
2011 World wide capacity installed by renewable energy (MW)
37.000 MW
30.000 MW
23.000 MW
15.000 MW
7.000 MW
0
45.000 MW
Win
d
Sol
arB
iom
ass
&
was
te
Sm
all h
ydro
mar
ine
geot
herm
al
66
Photovoltaic levelized cost of energy (LCOE) has decreased 50% in two years,
and in the short term will be highly competitive vs. fossil fuel
Sources: Bloomberg New Energy Finance ’11-’12, Q-cells ‘11
Consolidation is bringing module prices down further and “grid parity’ is being achieved in the world's sunny regions with high retail power prices, unleashing unlimited market potential.
LCOE of different energies Q1 2012 ($/MWh)LCOE of different energies Q4 2009 ($/MWh)
0 50 100 150 200 250 300 350 400
Coal Fired
Natural Gas CCGT
Geothermal - Flash Plant
Geothermal - Binary Plant
Municipal Solid Waste
Landfill Gas
Wind - Onshore
Biomass - Incineration
Biomass - Gasification
Biomass - Anaerobic Digestion
Wind - Offshore
STEG - Parabolic Trough
STEG - Parabolic Trough + Storage
PV - c-Si Tracking
PV - Thin Film
PV - c-Si
Marine - Tidal
Marine - Wave
LCOE Carbon: 21 USD Carbon: NEF Estimates Central Scenario
$/MWh
Natural Gas CCGT
Coal Fired
Nuclear
Landfill Gas
Geothermal -Flash Plant
Large Hydro
Small Hydro
Wind -Onshore
Geothermal -Binary Plant
Municipal Solid Waste
Biomass -Incineration
Biomass -Anaerobic Digestion
PV - c-Si Tracking
Biomass -Gasification
PV -Thin Film
PV - c-Si
STEG -Tower & Heliostat w/storage
Wind -Offshore
STEG -Tower & Heliostat
STEG -Parabolic Trough + Storage
STEG -LFR
STEG -Parabolic Trough
Marine -Tidal
Marine -Wave
LCOE BNEF 2011 EU -ETS EUA Forecast Q1 2012 Central Scenario Q4 2011 Central Scenario
0 100 200 300 400 500
-12%
+5%
-
+4%
-
--
+7%
799-740-
+5%
+5%
+6%+1%
-
+6%
-13%
--8%
-
-
+3%
-
-
PV is the only technology that is decreasing costs (Q4 2011 vs Q1 2012)
$/MWh
77
Photovoltaic sector will employ above 1m people by 2020, generating more
employment than wind and thermal together
Sources: Bloomberg New Energy Finance ‘12
By 2020, the photovoltaic sector should be employing 1.020.000 full-time workers, nearly 350.000 more than 2011, and a rise of 51%.
Employment in wind and solar sectors worldwide, 2011 and 2020
0
200,000
400,000
600,000
800,000
1,000,000
1,200,000
Onshore wind Offshore wind PV Solar thermal
2011
2020
88
2. Siliken Group
99
Siliken is a global company integrated in the value chain of the solar photovoltaic industry, with
the commitment and determination to increase its capacity in each stage of the value chain. We
develop and implement innovative and guaranteed energy solutions displaying the highest levels
of quality, performance and profitability for the end customer.
Our motto defines our position:
1010
• We are one of the few companies integrated in the manufacture of Solar Silicon with FBR technology.
• Proprietary FBR technology allows for differentiation using high-quality granular polysilicon.
• We are firmly committed to quality as a form of differentiation. Design, engineering and modules manufacturing are all carefully controlled to ensure that our solutions provide higher levels of performance.
• More than 400MWp* of module capacity through two big manufacturing hubs in Mexico and Romania, and plants in Canada and Spain.
Solar Silicon manufacturing
Modules manufacturing
Modules, Components &
PV solutions
• We also supply all the components needed to create a photovoltaic installation: power converters, structures, hooks, connection boxes, etc.
• Siliken has sales presence in 5 continents with its own subsidiaries, sales offices and sales network.
High efficiency Cells R+D
Development & TurnKey, O&M
• We hold collaboration agreements with several of the market's leading manufacturers.
• However, we are committed to design high efficiency cells as one of the most important innovation projects that we are currently working on.
• We offer a fully integrated "turnkey" product, from design to construction through to operation and maintenance.
• We have a vast experience of ground and rooftop installations in countries such as Spain, Italy, Germany, France and the US, giving us a Know How that benefits our customers.
PV Sales Distribution and ServicesPV Manufacturing and R&D
From the innovation and quality control in the manufacturing to the high level of
distribution services, customer commitment and satisfaction
*400Mwp; 3 shifts for semi-automatic lines, 5 shifts for automatic lines
1111
We focus on the manufacturing and own distribution of photovoltaic modules and
components
Siliken has more than 11 years experience in the manufacturing, distribution and sale of photovoltaic modules, components and solutions.
We currently have presence in more than 20 countries in Europe, Asia and America with our own commercial and manufacturing structure.
11
1212
Siliken designs the complete energyBox kit for you, providing free system design and customization support to adapt the solution to your residential or industrial requirements. All components guarantee is managed by Siliken.
We deliver all in one customized solutions with free engineering and technical
support
12
1313
Development & Turnkey projects: engineering, execution, operation and
maintenance
We handle the construction, operation and maintenance of both ground and rooftop installations. Our projects can be 100% financed, are technically impeccable and provide the very best quality guarantees.
13
1414
Siliken volume sold by country 2004-2011 (MW)
2004 2005 2006 2007 2008 2009 2010 2011
ROW
Spain
Germany
Italy
France
UKGreece
USA
Canada
Siliken Shareholders Structure
Others8%
Founding Partners
33%
59%
Founding Partners
Carlos Navarro
Gonzalo Navarro
Zriser Group Private Equity
Other shareholders
The 8% of "other shareholders" includes employees, relatives and friends of the company.
The Zriser Group is the family office of the Serratosa Lujan family.
It covers several investment vehicles and its investment strategy is wide-ranging, with interests in the capital market, private equity, the property market and in industry.
Alfredo Puche
Francisco Clavel
Siliken sales 2004-2011 (Mill€)
2004 2005 2006 2007 2008 2009 2010 2011
Siliken has a private equity shareholder, ensuring the group's long-term
viability and financial strength
182
163
57
91
44
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255
336
154
368
152
53175
1515
3. Siliken strategic strengths 2012
1616
GlobalityQualityTechnologyLoyalty
1717
More than 400MWp* of module capacity through two big manufacturing hubs in N. America and Europe
Modules manufacturing Plants
Modules manufacturing Hubs
*400Mwp; 3 shifts for semi-automatic lines, 5 shifts for automatic lines
Romania 200MWp capacity
Spain 70MWp* capacity
*Most of the capacity in Spain will be relocated in RomaniaMexico 130MWp capacity
1818
Siliken has sales presence world wide through own subsidiaries and sales network...
Commercial presence without subsidiary
Subsidiary commercial office
Siliken Japan
Siliken USA
Siliken Singapore
Siliken Brazil
Siliken Mexico
Siliken Germany
Siliken Italy
Siliken Spain
Siliken France
1919
...allowing us to cover both ground and rooftop installation markets at a global level
*Ask for the siliken’s project dossier
2020
QualityTechnologyLoyaltyGlobality
2121
In-house design, engineering and proprietary manufacturing know-how ensure the highest
quality and performance of our products
Our modules are subjected to strict quality controls at every stage of the production process to verify and ensure our standards of quality are met.
Quality certificates
ISO 9001 ISO 14001 CE Mark IEC 61215 IEC 61730 IEC61701 IEC 62716 UL 1703 ULC/ORD-C 1703 MCS AS/NZS 5033 Israel Electric Corporation
JET
In process of certification
21
2222
Siliken modules quality is globally recognized through independent laboratory tests
23 Leading manufacturers assessed
14 Leading manufacturers assessed
Photon Laboratory 2010 TÜV Laboratory 2008
BP Solar
Canadian Solar Inc.
Evergreen Solar
First Solar
Frankfurt CS Solar
Isofoton
Kioto Photovoltaics
Kyocera
Mage Solar
Photowatt
PV Power Tech.
Schott Solar
S-Energy
Sharp
Shell Solar
Siliken
Solar-Fabrik
Solarfun
Solarworld
Sunrise Solartech
Sunways PV Tech
Trina Solar
Winergy Solar P.
36 Leading manufacturers assessed
Photon Laboratory 2011
Aleo Solar
Bisol
BP Solar
Canadian Solar Inc.
CH Solar
CNPV Solar Power
Conergy
CSG PVTech
Emmvee Solar
Evergreen Solar
First Solar
Frankfurt CS Solar
Isofoton
Kioto Photovoltaics
Kyocera
Mage Solar
Nexpower Tech
Perfectenergy
Photowatt
PV Power Tech.
REC
Schott Solar
S-Energy
Sharp
Shell Solar
Siliken
Solar-Fabrik
Solarfun
Solarworld
Sonalis
Sun Peak
Sunrise Solartech
Sunways PV Tech
Trina Solar
Upsolar
Winergy Solar P.
BP Solar
Energy Solutions
Kyocera
REC Scan Module
Siliken
Sheuten Solar
Sharp Electronics
SolarWatt AG
SolarWorld AG
Solon AG
Sovello AG
Suntech Power
3S Swiss Solar
Trina Solar
2nd 1st 2ndSiliken Siliken Siliken
2323
Photon laboratory ranked Siliken modules as the highest performance modules in 2010 and
2nd in 2011Ranking of accumulated performance evolution of 23 module brands during PHOTON test 2010
Sources: Comparative studies carried out by the Photon laboratory in 2010, 2011
Siliken
Kioto Photovoltaics
Winergy Solar
Trina Solar
Frankfurt CS Solar
Mage Solar
S-Energy
PV Power T.
First Solar
Solarworld
Sunrise Solartech
Photowatt
Shell
Evergreen
Solarfun
CSI
Isofotón
BP Solar
Kyocera
Schott Solar
Solar-fabrik
Sunways
Sharp
700
750
800
850
900
950
1,00
0
1,05
0
1,10
0
kWh/kWp
Siliken
1st Siliken
REC SolarSiliken
NextPower T.CH Solar
CSG PV TechCNPV
Winergy SolarSolarworld
BisolCSG PV Tech
UpsloarTrina Solar
ConergyAleo Solar
800
850
900
950
1,00
0
1,05
0
1,10
0
1,15
0
1,20
0
Ranking of accumulated performance evolution of 36 module brands during PHOTON test 2011
2nd Siliken
kWh/kWp
Siliken
First SolarEvergreen
Sovello AGShell
Solar-fabrikCanadian Solar
IsofotónKyocera
Solar-fabrikSchott Solar
SunwaysBP Solar
SharpPhotowatt
2424
TechnologyLoyaltyGlobalityQuality
2525
Silicon purification factory with FBR Proprietary technology
Innovation its the way to achieve further cost reductions assuring a sustainable PV market
growth
We are one of the few integrated global companies to have its own high-purity solar-grade silicon production plant, allowing us to guarantee maximum quality in all of our processes throughout the entire chain and transform the initial raw material into installations and projects that generate clean energy all over the world.
The in-house development of high-efficiency monocrystalline solar cells is one of the most important projects that we currently have underway and will provide even greater levels of integration, guaranteeing maximum quality.
High efficiency cell laboratory
2626Sources: Bloomberg New Energy Finance 2011, companies BBDD, Morgan St., Credit Suisse
10$/kg
15$/kg
20$/kg
25$/kg
40$/kg
WackerHemlock
GCL
OCI
Conservative demand 2012 (28GW)
Polysilicon capacity Vs cash costs of main manufacturers 2012 ($/kg)
Cash costs ($/kg)*
LDK
REC siemens
Optimistic demand 2012 (32GW)
30$/kg
35$/kg
MEMC
Daqo
Renesola
Tokuyama
13$/kg
57.00013.50010.000 53.000 46.000 46.000 22.000 12.000 24.000
220.000 245.000 CAPACITY(tpa)Including semiconductors demand
150.000
Tier 3-4
17$/kg
21$/kg
23$/kg
16$/kg
425.000
0$/kg
27$/kg
REC FBR
SilikenFBR
29$/kg
1
*Cash costs includes, manufacturing costs, utilities, SG&A & labour costs. Does not include depreciation and financial costs
1 Siliken FBR cash cost: According to the feasibility study from Fluor 2011 (80 reactors of 125 tpa capacity in China)
In an overcapacity market, only the players with the lowest production cost will supply the
demand
2727
LoyaltyGlobalityQualityTechnology
2828
Our customers are the most important engine of growth for our company
Our success cannot continue to spread without the success of our customers.
Siliken staff, technological innovation, experience, knowledge and globality are placed at the service of our customers with the aim of improving conditions and growing together.
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Probably one of the most over-used yet under-valued terms. Guaranteeing service quality to our customers is a commitment that is firmly embedded within the culture of our team, because the true value of a company is in the last link of the chain: the link to our customers.
Pre and After-sales service
We guarantee the highest level of quality with a local, efficient and committed
service
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Ronda Isaac Peral y Caballero, 14Parque Tecnológico – 46980 Paterna – Valencia - EspañaTel.: +34 902 412 233Fax: +34 960 709 265
