Nextpower Inc. · NASDAQ:NXT
Nextpower — NEXTracker — Technical Presentation (September 2018)
40 slides from Nextpower's technical presentation, Sep 18, 2018
Slide 1: Designing for Wind in the Age of Mass Solar Tracker Deployment
Designing for Wind in the Age of Mass Solar Tracker Deployment Presented By: 9/18/2018 Speakers: Alex Roedel, Director of Design & Engineering, NEXTracker Dr. David Banks, Principal, CPP Wind Engineering Consultants Jake Morin, Structural Engineer, Structurology LLC Moderator: Benjamin Gallagher, Se
Slide 2: Today's Speakers
Today’s Speakers Alex Roedel Dr. David Banks Jake Morin Benjamin Gallagher, Director of Design & Engineering, Principal, Structural Engineer, Senior Analyst, NEXTracker CPP Wind Engineering Consultants Structurology LLC GTM Research www.greentechmedia.com -2-
Slide 3: Take 15 Percent Off GTM's Upcoming Events with Code WEBINAR
Take 15 Percent Off GTM’s Upcoming Events with Code WEBINAR www.greentechmedia.com -3-
Slide 4: Audience Console
Audience Console Speaker Bios Submit Questions Download Slides/ Additional Resources www.greentechmedia.com -4-
Slide 5: Utility PV Market Outlook, 2018-2023
Utility PV Market Outlook, 2018-2023 U.S. Utility PV Installation Forecast, 2014-2023E • GTM’s 2018 - 2023Forecast has grown by 1.9 GWdc over last quarter due to the surge in 12,000 procurement of utility PV 10,807 Near Term: 2018 Remains Steady While Tariff Impacts Most Felt in 2019 • The 2018 fore
Slide 6: Overall Pipeline: Growth Through Q2 2018
Overall Pipeline: Growth Through Q2 2018 Current U.S. Utility PV Pipeline 40,000 35,000 U.S. Utility Capacity (MWdc) 30,000 25,000 23,948 4,276 20,000 36,154 33,734 15,000 10,000 19,671 5,000 0 Operating Contracted (PPA Signed) Announced (Pre-Contract) Source: U.S. Utility PV Market Tracker Designin
Slide 7: Utility PV in Development by State as of Sept 2018
Utility PV in Development by State as of Sept 2018 WA MW in Development ME MT ND OR MN VT NH MA n 0-20 ID SD WI NY CT WY NE IA MI PA NJ RI n 20-100 NV OH DE CA UT CO KS MO IL IN WV VA MD n 100-500 KY OK TN NC n > 500 AZ SC NM AR MS AL GA TX LA FL HI Designing for Wind in the Age of Mass Solar Tracke
Slide 8: Region Breakdown
Region Breakdown Rank (Contracted + 2018-2023 Forecast Region In Development Operating Operating) (MWdc) 1 Southeast 9,122 9,219 17,631 2 California 3,068 12,575 7,249 3 Southwest 3,268 6,733 6,179 4 Texas 1,922 1,798 4,852 5 Midwest 1,135 990 4,464 7 Northeast 1,251 1,023 2,901 6 Northwest 1,135 76
Slide 9: Global Capacity Weighted Average Utility PV System Prices Land at $0.85/Wdc
Global Capacity Weighted Average Utility PV System Prices Land at $0.85/Wdc Global Capacity Weighted Average, Japan, India and U.S. Utility PV System Pricing, 2015-2023E ($/Wdc) $3.00 $2.50 $2.61 $2.35 $2.00 $2.09 $1.93 $/Wdc $1.56 $1.73 $1.69 $1.50 $1.31 $1.65 $1.61 $1.57 $1.57 $1.11 $1.07 $0.97 $0
Slide 10: US Utility PPA Prices Now Between 35.00 $/MWh – 21.00 $/MWh
US Utility PPA Prices Now Between 35.00 $/MWh – 21.00 $/MWh A series of record low PPAs were announced in Q2 2018. While Austin Utility PV PPA Price by Contract Execution Date Highlights Q4-2017 – Q2-2018 Energy’s 21.00 $/MWh PPA in Q4 2017 is still believed to be the lowest, GTM has not yet confirm
Slide 11: Different-Sized Projects Work in Different Regions
Different-Sized Projects Work in Different Regions: Australia Will Be Dominated by Ultra- Large PV Projects Regional Utility-Scale PV Project Development Pipeline by Region (bars show no. of projects in development) Russia & the Caspian 20 1-5 MW 15 5-25 MW North America 25-100 MW 2000 Europe Asia 3
Slide 12: Record low tariffs are being delivered for renewable energy awarded around the world
Record low tariffs are being delivered for renewable energy awarded around the world Seven world record-low solar PV PPA prices since the start of 2016 250 200 150 US$/MWh 220.0 100 200.0 Global coal and gas levelized cost of energy range 50 110.0 91.2 59.0 53.0 52.0 50.0 47.1 38.0 36.8 29.9 29.0 24
Slide 13: Solar is NOT Maintenance Free
Solar is NOT Maintenance Free Designing for Wind in the Age of Mass Solar Tracker Deployment 13
Slide 14: GTM
GTM N ExTracker A Flex Company Propriecary
Slide 15: Designing for Wind in Solar Tracker Deployment
IN EXTrack DESIGNING EOR WIND IN SOLAR TRACKER-DEPLOYMEN |<< —— Dynamic Wind Afhalysis.and Protective"StomStrate (Co iT Greentech Media Webinar Series a SEPTEMBER 18, 2018 Copyright 2018 NI X Iracker. Proprictary and Confidentia ol
Slide 16: Agenda
AGENDA « Benjamin Gallagher, Senior Analyst, GTM « Alex Roedel, Director of Design & Engineering, NEXTracker e Dr. David Banks, Principal, CPP Wind Engineering Consultants e Jake Morin, Structural Engineer, Structurology LLC ° Q&A CERMAK NEXTracker Cpp PETERKA A Flex Company PETERSEN NEXTracker. A F
Slide 17: NEXTracker
Ne NEXTracker A Flex Company N ExTracker A Flex Company Scireaaeed
Slide 18: NEXTracker, A Flex Company
NEXTRACKER, A FLEX COMPANY ca yr flex An investment grade company Gj Mexico > 15 CW Ja % EMEA>15 tabs + $25B revenue * $13B balance sheet + > $400M free cash flow S, America > 1 GW ¥ Australia > 1.5 GW @ Offices @ Manufacturing: 175 MW/ week global capacity 14 GW trackers delivered globally 10 GW of
Slide 19: NEXTracker Product & Services Ecosystem
NEXTRACKER PRODUCT & SERVICES ECOSYSTEM SOLAR TRACKING SOLUTIONS ENERGY STORAGE SOLUTIONS | Best-in-class energy storage systems for any application. Can be paired with NX Horizon trackers and other existing generation assets, or used on TRUECAPTURE™ standalone basis. NX HORIZON™ NX FLOW™ NX DRIVE™
Slide 20: Root Causes of PV Failure
ROOT CAUSES OF PV. FAILURE ROOT CAUSES OF SOLAR PV CLAIMS Weather is the #1 source of PV insurance claims NORTH AMERICA 23% tgrinna 0.5% Theft z Climate change leading toa poise oy “am rise in extreme weather Source: GCube
Slide 21: Recommended Wind Tunnel Testing
PETERSEN RECOMMENDED WIND TUNNEL TESTING | cpp Fi Static Wind Tunnel Test Instability 4 Buffeting - Multirow Testing Dynamics Study Aeroelastic 1 Hz is not rigid N ExTracker A Flex Company ere aon
Slide 22: Dynamic Wind Analysis: Instability at 0 Degrees
PETERSEN DYNAMIC WIND ANALYSIS | cpp INSTABILITY AT O DEGREES N EXTracker. A Flex Company Promelecary anc ZanfdestW 7018
Slide 23: Dynamic Wind Analysis: Stability at High Tilt Angles
DYNAMIC WIND ANALYSIS STABILITY AT HIGH TILT ANGLES N ExTracker A Flex Company CERMAK PETERKA PETERSEN
Slide 24: Torsional Galloping
PETERSEN, TORSIONAL GALLOPING ae *Panels stowed near flat araiin test N ExTracker A Flex Company Propriesary and Cantidental $721
Slide 25: Dynamic Wind Analysis: Stow at 0 Degrees - Torsional Galloping
DYNAMIC WIND ANALYSIS | cpp Fi PETERSEN ! ei Sa CFD.Video. 3 STOW AT O DEGREES - TORSIONAL GALLOPING NEXTracker. A Flex Company ere
Slide 26: Dynamic Wind Analysis: Stow at High Angles - Vortex Lock-in
PETERSEN DYNAMIC WIND ANALYSIS ae x STOW AT HIGH ANGLES - VORTEX LOCK-IN N EXTracker. A Flex Company eee
Slide 27: Cost of Down Time in Tracker Repair
COST OF DOWN TIME IN TRACKER REPAIR Instabilities and failures can occur at low to 120 aoe moderate wind speeds 110 --—ws +/-95% limits (25mph - 6Omph) 100) Thunderstorms, 3-Second Gust, LOGAN-CACHE AIRPORT These wind events can occur several times a year to every few years depending on location Win
Slide 28: Limitations of Code Based Designs
LIMITATIONS OF CODE BASED DESIGNS ASCE 7: “Wind tunnel method may always be used for determining wind pressures for any structure. This method is considered to produce the most accurate wind pressures of any method specified in this standard.” Mono-slope roof coefficient grossly oversimplifies a PV
Slide 29: Static Wind Tunnel Testing Results
STATIC WIND TUNNEL TESTING RESULTS CPP [ieee A Flex Company
Slide 30: Buffeting Dynamics
BUFFETING DYNAMICS cpp faa N EXTracker A Flex Company
Slide 31: Importance of Dampers
STRUCTUROLOGY| IMPORTANCE OF DAMPERS Dampers reduce oscillations Dynamic Amplification Factor (DAF) can be determined via finite element analysis Must be verified by 2 7-35 1 05 0 05 1 field testing cp damn ay bape oeneney A Flex Company Propriecary ancl fenfide wal $7218 18
Slide 32: Tracker Architecture
TRACKER ARCHITECTURE STRUCTUROLOGY + Chord length is East/West exposure to wind - Chord length has a squared effect on torque + 2P trackers experience 400% load increase N ExTracker A Flex Company
Slide 33: Fasteners & Module Types
FASTENERS & MODULE TYPES Key wind-mitigation component: tension fasteners Portrait frameless modules on a tracker risks improve reliability by not loosening over time. slippage and breakage over time. Wn YATE AUATUTUTUIT TTT TAT WaT TTT TT HTT | PAT | PTT PMT AUIAAGNTAC HUNAN UUAGRUATAHAVET TAT WW T
Slide 34: Forging the Standard
FORGING THE STANDARD > NEXTracker along with CPP has changed the industry with respect to dynamic ; yy analysis & wind stow / EE strategies | | J | J W - NEXTracker has sustained hurricanes Matthew, Harvey, Maria, Irma, Florence and others without failures NEXTracker. A Flex Company
Slide 35: Value of Reliability and Quality Design
VALUE OF RELIABILITY AND QUALITY DESIGN - Levelized Cost of Energy (LCOE) need to take into account O&M costs and downtime due to tracker failures » Owners and EPCs need to require proper wind tunnel testing and dynamic analysis 4 sina” Py HM Hint SG 4 Actual site with NX Horizon post-Hurricane Matt
Slide 36: Sand and Flood Clearance
SAND AND FLOOD CLEARANCE NEXTracker Design All NX components sealed and positioned well above grade to avoid contact with water and sand NEXTracker. A Flex Company Extreme Weather Events Actual NEXTracker site enduring harsh flood. Along with hurricanes, floods can be extremely damaging to sites
Slide 37: DNV-GL Bankability Study
DNV-GL BANKABILITY STUDY - The Industry needs to mature in effort to ensure the quality and reliability of solar trackers DNV GL WHITE PAPER - DNV has recently released a white paper outlining best practices for the Independent Engineers (IE) community for performing unbiased technology evaluations
Slide 38: Importance of Peer Review
IMPORTANCE OF PEER REVIEW Buffeting STRUCTUROLOGY|] Static Wind : Instability - Tunnel Test oiakeTealies Multirow Testing Study y PEER REVIEW N ExTracker A Flex Company
Slide 39: NEXTracker Surviving Wind Event
NEXTRACKER SURVIVING WIND EVENT NEXTracker. A Flex Company
Slide 40: NEXTracker
NEXtTracker AFi x Company re sa an sigh TALE CT ULE HEU EOE CECE LILA ALTA TTA AL TE TTT UT MTN Tage LAT PTAA Gs TMT OTA OCT ATTA COE TTT MTT {iT Errnvaguenannnggguoreanunyuceuuati TMM MATTEO TOASSEUUERURRLEELALIN TS HMI UTAMTITLLATIT i am TTT * TATE LCATOUTGLLTTLLATTT i TET ECCT, Tg ATT CCT NT TTTI