Orsted · OMXCOP:ORSTED
Orsted — Ørsted — Investor Presentation (February 2017)
19 slides from Orsted's investor presentation, Feb 2, 2017
Slide 1: Wind Power EPC
WIND POWER EPC Anders Lindberg, Head of EPC Meet the Management, 2 February 2017 83
Slide 2: Anders Lindberg
Anders Lindberg Strategy Senior Vice President, Head of EPC Development & Regulatory Born: 1965 Education: EMBA in Business Administration (SSE) & MSc. in Electrical Engineering (KTH) Finance EPC 2015 - Senior Vice President, Head of EPC, DONG Energy Wind Power Wind Power Operations 2014 - Board mem
Slide 3: Robust & highly visible offshore wind build-out plan towards 2020
Robust & highly visible offshore wind build-out plan towards 2020 MW 700 1,200 450 Target 6.5GW 659 573 582 258 6,731 3,009 3,591 2015 Gode Wind 2016 Burbo Bank Race Bank Walney Borkum Hornsea 1 2020 Borssele 1&2 Extension Extension Riffgrund 2 1&2 Country Germany UK UK UK Germany UK Netherlands Exp
Slide 4: Gode Wind 1&2: Grid repair completed and park fully operational
Gode Wind 1&2: Grid repair completed and park fully operational • Gode Wind 1&2 completed slightly behind time schedule and within budget, despite grid delay and outages • Outstanding safety performance with only 1 LTI (LTIF: 0.4) during construction • Completed November 2016 after challenging turbi
Slide 5: Burbo Bank Extension: Construction activities finalised
Burbo Bank Extension: Construction activities finalised • Burbo Bank Extension on track to complete on time and within budget • Outstanding safety performance with only 1 LTI (LTIF: 0.5) during the two year construction period • Construction activities completed and commissioning advanced • First po
Slide 6: Race Bank: Fully on track
Race Bank: Fully on track • Race Bank is fully on track both on time and budget • Good safety performance with 1 LTI (LTIF: 0.7) • First offshore substation installed and energised; second to be installed in March • Both export cables have been successfully installed in sensitive salt marsh area • F
Slide 7: Remaining construction program fully on track
Remaining construction program fully on track Walney Extension Borkum Riffgrund 2 Hornsea 1 Borssele 1&2 659 MW 450 MW 1,200 MW 700 MW Country UK Country Germany Country UK Country Netherlands On time / On budget / On time / On budget / On time / On budget / On time / On budget / Expected completion
Slide 8: LCoE being reduced through scale, innovation, industrialisation and digitalisation
LCoE being reduced through scale, innovation, industrialisation and digitalisation in both EPC and Operations Scale Innovation Industrialisation Digitalisation 3.6MW 6.0MW 8.0MW 2009 2014 2016 Increased size of Driving innovative Standardisation and Fully capturing new windfarms and turbines solutio
Slide 9: Wind Power fully on track with 2020 build-out plan
Wind Power fully on track with 2020 build-out plan All projects fully on time… … and within budget Continue the cost reduction journey 91
Slide 10: Wind Power Operations
WIND POWER OPERATIONS Jens Jakobsson, Head of Operations Meet the Management, 2 February 2017 93
Slide 11: Jens Jakobsson
Jens Jakobsson Strategy Senior Vice President, Head of Operations Development & Regulatory Born: 1966 Education: BSc.EE (DTU), Finance for Executives (INSEAD) & Executive Management Programmes Finance EPC (INSEAD & IMD) 2015 - Senior Vice President, Wind Power Operations Wind Power Operations 2014 -
Slide 12: Largest operator of offshore windfarms in the industry
Largest operator of offshore windfarms in the industry Installed and decided capacity Number of turbines in operation (GW) 3.8 1,499 3.6 0.8 0.7 1.1 1,059 1.0 1.2 1.3 1.1 0.6 0.3 0.5 0.2 0.3 666 Energy DONG RWE Vattenfall EON Power Iberdrola SSE Northland Statoil 2013 2016 2020 Decided Installed1 So
Slide 13: Availability performance of clusters in H2 2016 as expected
Availability performance of clusters in H2 2016 as expected – specific challenges in German cluster UK West Denmark 93% 96% 97% 95% Anholt Middelgrunden Horns Rev 2 Q3 2016 Q4 2016 Walney 1&2 Q3 2016 Q4 2016 West of Westermost Duddon Barrow Vindeby Rough Sands Gode Burbo Wind 1&2 Nysted Bank UK East
Slide 14: Scale effects – clusters allow for shared onshore infrastructure and Service Operation Vessel
Scale effects – clusters allow for shared onshore infrastructure and application of Service Operation Vessel Northsea cluster Borkum Riffgrund 1 and Gode Wind 1&2 Gode Wind Cluster Higher accessibility Borkum Cluster SOV based service Shared onshore base Minimizing non-productive time train to acces
Slide 15: More data – source for significant operational improvement in the near future
More data – source for significant operational improvement in the near future Case: Failing cooling fan Before - No online monitoring: • Turbine stops in case of high temperature • Leads to availability loss Cooling Now - Standard Analytics: fan • Continuous temperature monitoring and predictive mod
Slide 16: Consistently improving park performance after take-over from OEMs
Consistently improving park performance after take-over from OEMs Average availability performance for operating assets (Index) Long term perspective on optimisation As portfolio grows of operating wind farm availability is ~+2 expected to increase 100 102 Strong incentive to increase availability a
Slide 17: In addition, larger turbines provide powerful scale effects
In addition, larger turbines provide powerful scale effects 3-4 MW 6-8 MW OPEX/ Turbine (Index) 100 100 OPEX/ MW (Index) 100 50 100
Slide 18: Wind Power is the largest offshore wind power operator in the world
Wind Power is the largest offshore wind power operator in the world with a significant focus on cost reductions Operating the industry’s Site performance meets largest portfolio expectations, with additional opportunities to improve Scale is a main driver for Advanced analytics being cost reductions
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