Tilt Renewables — Shareholder Meeting (August 2019)
23 slides from Tilt Renewables's shareholder meeting presentation, Aug 21, 2019
Slide 1: Annual General Meeting 2019
WE ARE ANNUAL GEN MEETING TILT 2019 21 AUGUST
Slide 2: Chair Presentation
CHAIR PRESENTATION Tilt Renewables 2019 Annual Meeting 2
Slide 3: Chair Presentation - Bruce Harker
CHAIR PRESENTATION BRUCE HARKER Welcome to third shareholder’s Annual General Meeting of Tilt Renewables Limited. I am Bruce Harker and have been Chair of your company since it was created in October 2016 and I am proud of the progress we have made since then. Also here today are the other directors
Slide 4: Chair Presentation - Bruce Harker
CHAIR PRESENTATION BRUCE HARKER You will recall that this time last year, the company was subject to a takeover process. The takeover reflected strong support for our strategy from the current cornerstone investors. The company remains listed on the NZX and ASX and we have maintained and in fact str
Slide 5: Chair Presentation - Bruce Harker
CHAIR PRESENTATION BRUCE HARKER We are now working hard to bring our next key development project, the Waipipi Wind Farm (formerly Waverley), to shovel-ready status. The management team is currently finalising the Waipipi investment case for interrogation by the Board. We have secured strong debt ma
Slide 6: Independent NZ Wind Developer
CHAIR PRESENTATION BRUCE HARKER Independent NZ Wind Developer We are aware of the importance to our New Zealand customers of our position as an independent wind developer capable of providing the lowest wind cost power from projects with multiple power sales contracts sized and timed to suit custome
Slide 7: Chief Executive Presentation
CHIEF EXECUTIVE PRESENTATION Tilt Renewables 2019 Annual Meeting 7
Slide 8: Full Year Results – FY2019 Balanced Scorecard
FULL YEAR RESULTS – FY2019 BALANCED SCORECARD A STRONG YEAR FOR THE COMPANY Full year FY19 result Units FY2019 FY2018** Safety – 12-month TRIFR per 1M hrs 24.6 14.2 73% Satisfactory operating results Staff Engagement *** n/a 77% 65% 18% • Safety outcome remains an opportunity for improvement • A
Slide 9: Operational and Development Project Update
OPERATIONAL AND DEVELOPMENT PROJECT UPDATE 636 MW, 322 TURBINES OPERATIONAL 336MW, 80 TURBINES UNDER CONSTRUCTION 133MW, 31 TURBINES PENDING INVESTMENT DECISION Omamari Potential capacity: 70 MW (wind) Chewko Potential capacity: 80 MW (solar) North Creek Potential capacity: Waipipi 330 MW (wind) Inv
Slide 10: FY19 Dividends and FY20 Earnings Guidance
FY19 DIVIDENDS AND FY20 EARNINGS GUIDANCE STRONG CASHFLOW TO SUPPORT GROWTH FY19 cashflow & dividend FY20 earnings guidance • Strong cash flow generated from operating asset portfolio with production and revenue in line with long-term expectations FY19 Group Cash Flow A$M Area Relative to FY2019 Net
Slide 11: FY20 Operating Update
FY20 OPERATING UPDATE FOUR MONTHS TO 31 JULY 2019 • 12 month rolling Total Recordable Injury Frequency • Shares have traded as high as NZ$2.75, which is Rate (TRIFR) (at 31 July) at 14.4ppm with 5 NZ$1.00 (57%) higher than the rights offer price in Recordable Injuries, including 1 Lost Time Injury F
Slide 12: Project Update
PROJECT UPDATE Tilt Renewables 2019 Annual Meeting 12
Slide 13: Dundonnell Wind Farm: A$260 Million of Shareholder Equity at Work
PROJECT UPDATE THE DUNDONNELL WIND FARM REPRESENTS A FURTHER A$260 MILLION OF SHAREHOLDER EQUITY AT WORK Tilt Renewables 2019 Annual Meeting 13
Slide 14: Dundonnell Wind Farm Project Update
DUNDONNELL WIND FARM PROJECT UPDATE Wind Farm Construction • No lost time injuries recorded, with 170,000 hours worked • 80 turbines to be installed, 150m rotors, 4.2MW generators • Each foundation: • Is 21m in diameter and 3.5m deep • Contains 70t of reinforcing steel • Contains 580m3 of concrete,
Slide 15: Dundonnell Wind Farm Project Update
DUNDONNELL WIND FARM PROJECT UPDATE Transmission Construction Bluegums 500/220kV substation Transmission line pole construction • 38km, 124 transmission poles • 81 foundations poured, up to 45m3 of concrete each • Line stringing includes use of helicopters • Main transformer is 220/500kV 360MVA • Tw
Slide 16: Snowtown Wind Farm Strategic Review
SNOWTOWN 2 WIND FARM STRATEGIC REVIEW The review includes options for the possible sale of the asset and the review is expected to be completed this year, with any further process or outcome announced as required. Snowtown 2 Wind Farm • is the largest operational asset currently owned by Tilt Renewa
Slide 17: Waipipi Wind Farm Progressing to Final Investment Decision
WAIPIPI WIND FARM PROGRESSING TO FINAL INVESTMENT DECISION As part of our commitments to, and discussions with, IWI stakeholders, the project has been renamed to: Waipipi Wind Farm Project Statistics Waipipi Wind Farm (WWF) Capital cost ~NZ$270 million Turbines 31 x Siemens Gamesa (SGRE) SWT-DD-130
Slide 18: Future Focus
FUTURE FOCUS Tilt Renewables 2019 Annual Meeting 18
Slide 19: Our Markets Continue to Evolve and Provide Opportunities
OUR MARKETS CONTINUE TO EVOLVE AND PROVIDE OPPORTUNITIES Australia’s decarbonisation New Zealand’s electricity demand growth • We still believe Australia has the opportunity for its electricity sector to • Interim Climate Change Committee (ICCC) report recommended the do heavier lifting to meet its
Slide 20: Growth Strategy
GROWTH STRATEGY PORTFOLIO OPTIMISATION IS CRITICAL TO DELIVERING OUR STRATEGY “Our strategy is to have a range of late-stage, shovel ready projects Development in both Australia and New Zealand and be ready to respond flexibly Assets Pipeline Capital to market opportunities to create value from thos
Slide 21: Gen Tilt Team
GEN TILT TEAM OUR PEOPLE ARE OUR STRENGTH We have new thinking, high energy and preparedness to pursue growth, with patience • We are powered by 41 diverse people who are passionate about our results for shareholders, communities and the environment. We have the experience and an innovative approach
Slide 22: Thank You!
THANK YOU! Tilt Renewables 2019 Annual Meeting 22
Slide 23: Disclaimer
DISCLAIMER This presentation is issued by Tilt Renewables Limited. While all reasonable care has been taken in the preparation of this presentation, Tilt Renewables Limited and its related entities, directors, officers and employees (collectively “Tilt Renewables”) do not accept, and expressly discl