Centrica Plc · LSE:CNA
Centrica — Nomura Seminar (January 2010)
7 slides from Centrica's conference presentation, Jan 22, 2010
Slide 1: The Financing Challenge For Offshore Wind
The Financing Challenge For Offshore Wind Sarwjit Sambhi Managing Director, Power Generation Centrica Energy 22 January 2010
Slide 2: Centrica's Power Generation Portfolio
Centrica’s Power Generation Portfolio Existing CCGT Future CCGT Existing Wind Future Wind Existing Nuclear (20%) Future Nuclear (20%) ‘East Irish Sea’ ‘Wash’ Offshore Offshore Wind Portfolio Wind Portfolio (1.6GW) (3-4GW) 7 2
Slide 3: Significant investment in UK Energy infrastructure in next five years
Significant investment in UK Energy infrastructure in next five years Cumulative CAPEX 2009 to 2015 £bn Source: Ernst & Young 3
Slide 4: Evening Standard, 28 October 2009
Evening Standard, 28 October 2009 4
Slide 5: Project Boreas: Offshore Wind Refinancing
Project Boreas: Offshore Wind Refinancing • New sources of funding to UK Offshore market • Club of 14 project finance banks • Infrastructure funds as source of equity • Release cash from operational assets to finance construction pipeline • Model to extend to include construction assets 5
Slide 6: Key Considerations for Investors
Key Considerations for Investors • Equity • Debt • PPA and commodity exposure • Credibility of sponsor group • Stability of Renewable Obligation • PPA Certificate (ROC) regime • Availability guarantee • Stability of ROC regime • Wind yield • Wind yield • Technology • Proven technical performance • C
Slide 7: Summary
Summary • Offshore wind could represent the most significant part of future UK energy investment (over the next 5 years) • Investment requires wider investor community • Key to attracting investors: – Credible project sponsors – Stability of RO – Confidence in technology – Long term offtake 7