Econergy Ltd · TASE:ECNR
Econergy — Econergy Renewable Energy — Q2 2024 Earnings Presentation
43 slides from Econergy's earnings presentation, August 2024
Slide 1: Econergy Renewable Energy Capital Market Presentation Q2 2024
Econergy Renewable Energy Capital Market Presentation | Q2 2024 August 2024
Slide 2: Limitation of Liability
Limitation of Liability The purpose of this presentation is to present Econergy Renewable Energy Ltd. (the "Company”) and it is intended for the provision of information only. This presentation does not constitute an offer to the public of the Company's securities or an offer to invest in the Compan
Slide 3: A Leading European global renewable energy platform
Econergy A Leading European global renewable energy platform 407MW+102MWh €102m* A significant project Projects In commercial operation and Projected revenues year 2024 portfolio Ready to connect Large and diverse portfolio totaling 8.2GW of PV and Wind plus 10.6GWh of Energy storage Projects in the
Slide 4: Notable Events
ww Notable Events
Slide 5: Advanced negotiations for realization of RTB projects in Romania
An advanced stage of negotiations for the realization of projects in RTB status in Romania at a significant premium Finalized agreement for the sale of the 214MW Strategic expansion with an upcoming sale Niculesti PV project, A 75MW PV project in Romania will be released to Secured for approximately
Slide 6: 2024 is projected to see a significant equity increase
2024 is projected to see a significant equity increase* Forecast for equity growth in millions of euros (including Non-controlling interests)* A profit of €37m was recorded in Q1/24, driven by Econergy Archmore's increased control following the acquisition of UBS's share in Italian projects(1) Proje
Slide 7: Financial Strategy and Forecasting
Financial Strategy and Forecasting 7
Slide 8: Strategic partnerships and new financing agreements
Strategic partnerships and new financing agreements Partner Investment amount Target Main terms of agreement Additional Remarks (EUR millions) market Romania A “Balloon” loan type for a five years period with a yearly interest rate of Italy 9-9.5% which will be paid on a quarterly basis. The first F
Slide 9: Strategic partnerships and new financing agreements
Strategic partnerships and new financing agreements Financial Entity Investment amount(millions) Target Main terms of agreement market The funded Project: Swangate, Econergy’s first Battery Energy Storage Project, with an installed capacity of 102MWh. Key Highlights of the Funding Terms • Repayment
Slide 10: Significant Project Finance
Significant Project Finance €388M are allocated to fund projects in several active countries simultaneously, signed and in advanced negotiations*. Project’s name Installed Total Country Technology Status Status Capacity(MWp,MWh( Funding(€M) Romania Ratesti PV 155MW In Commercial Operation 60 Signed
Slide 11: Example - Construction financing for the Parau project
Example - Construction financing for the Parau project In Euro millions(1) Required investment 71.8 100% Short-term bridging financing (up to 5 years) by the Rgreen Invest Short term bridge 35.9 50% partner, flexible to be replaced with long-term financing, no exit penalty Capital required for compl
Slide 12: Connected, ready to connect and under construction projects
Connected Projects, ready to connect and/or Under construction and expected to begin construction in 2024* | The financial data in EUR thousands Total Connected Projects, ready Connected Projects and Under Construction Projects expected to begin to connect and/or Under Ready to Connect Projects cons
Slide 13: Business Results Forecast by Development Stage
Business Results Forecast by Development Stage | The Company's Share in €m* Projected business results only from electricity sales exclude net revenue from realization, initiation, development, and services fee (1) Revenues (2) EBITDA FFO 206 177 137 3 3 4 Projects in early development 88 Projects u
Slide 14: Large and diverse portfolio
Large and diverse portfolio Econergy is establishing itself as a leading global IPP 14
Slide 15: Econergy's total project pipeline Q2/2024
Econergy’s total project pipeline | Q2/2024 PV and wind capacity, MW Storage capacity, MWh Of the total projects approaching construction , 330MW of PV and wind, plus 8,162MW 261MWh of storage, 3,117MW+8,888MWh + are expected to start 10,613MWh construction in 2024* H1/24 saw a surge in construction
Slide 16: Projects in development | 8.2GW of PV and wind projects
Projects in development | 8.2GW of PV and wind projects Poland UK 27 projects 18* projects 0.9GW Romania 1.5GW 423MW 22 projects 1,354MW 436MW 134MW Projects in early development 52MW 2.1GW 68MW 79MW Projects under license 945MW Projects approaching construction 573MW 170MW Projects under constructi
Slide 17: Projects in development | 10.6GWh of storage projects
Projects in development | 10.6GWh of storage projects The UK 26 Projects Poland 15 Co-Location projects 8 Projects 11 Stand alone projects 2.4GWh 1,633MW 6.8GWh 672MWh Projects in early development 6,082MWh 98MWh 263MWh Projects under license 306MWh Projects approaching construction 82MWh Italy 102M
Slide 18: Projects status over the course of 2024
Projects status over the course of 2024 18
Slide 19: Romania | Connected, ready and under construction projects
Romania | Connected, Ready to be connected, and under construction projects A leading IPP in Romania, with a substantial development Connected and under construction projects pipeline exceeding 2GW and commercial operation of the largest project in the country, Ratesti total capacity 155MW A binding
Slide 20: Romania | Financial data of projects
Romania | Connected Projects, ready to connect and/or Under construction - The financial data in €m , In terms of 100%* Connected Projects Projects ready to connect and/or Under construction Total Project name Ratesti Parau Oradea Scurtu Mare Bobicesti Melinesti Iancu Jianu Installed Capacity 155 92
Slide 21: UK | Projects ready to be connected and under construction
UK | Projects Ready to be connected and under construction Swangate Project Finance - with £27m provided by the leading investment bank, Goldman Sachs, installed capacity of 102MWh and scheduled to connect to the electricity grid in Q3/2024*. Winning a government auction -The Swangate project, has s
Slide 22: UK | Financial data of projects
UK | Connected Projects, ready to connect and/or Under construction - The financial data in €m, In terms of 100%* Projects ready to connect and/or Under Total construction Project name Swangate Dalmarnock Energy Storage 102 82 184 Capacity(MWh) Holding(1) 100% 100% Total construction cost(2) 41 25.2
Slide 23: Poland | Projects under construction
Poland | Projects under constructions The Resko project, with a capacity of 52MW, is expected* to connect to the electricity grid in Q3/24. This is the first project from a substantial development pipeline in Poland exceeding 900MW. Storage - Launch of the first storage projects in the Polish market
Slide 24: Poland | Ready-to-connect project
Poland | Poland Ready-to-connect project The financial data in €m, In terms of 100%* Ready-to-connect project Project name Resko Installed Capacity (MWp) 52 Holding(1) 51% Resko,52MWp Total construction cost(2) 41.5 Representative year's 4.5 Revenues(3) Representative year's Ebitda(4) 3.7 Expected c
Slide 25: Italy | Connected, ready and under construction projects
Italy | Connected, Ready to be connected, and under construction projects Leini Doneddu Rivarolo Seven projects)1) totalling 17MW, out of a Pipeline of over 2GW 6MW 11MW under development, will be connected until the end of 2024.* Storage - Launch of the first storage projects in the Italian market,
Slide 26: Italy | Financial data of projects
Italy | Connected Projects, ready to connect and/or Under construction - The financial data in €m, In terms of 100%* Projects ready to connect Connected Projects and/or Under construction Total Project name Cumiana Cluster of 9 Projects** Installed Capacity (MWp) 4 25 29 Holding(1) 100% 50% Cumiana,
Slide 27: Project connection forecast based on existing pipeline
Project connection forecast based on existing pipeline Based on the Company’s 8.2GW PV and Wind pipeline in development and 10.6GWh of storage, and according to probabilities for success completing the development process that the Company published in its reports, Project connection forecast until 2
Slide 28: ESG - Milestones and objectives
Econergy |ESG - Milestones and objectives Econergy and its stakeholders pledge to adopt a corporate responsibility policy that encompasses environmental, economic, and social dimensions, Aligned with international recognizing their importance for the business's growth: reporting standards: Through o
Slide 29: Macro Trends
Macro Trends 29
Slide 30: Europe accelerating Solar PV installations
Europe continues to experience an acceleration of Solar PV projects installations Change in 2030 projected generation mix: Global Solar PV installations Comparison between actual data versus updated forecast Q4/2023(1) broke a new record in 2023(2) 500 +84% 420 Installed Capacity (GW) 400 +33% 50% 3
Slide 31: The renewable energy Market | Macro trends and effects
The renewable energy Market | Macro trends and effects European Solar PV electricity prices Poland Solar PV Electricity Price Italy Solar PV Electricity Price Romania Solar PV Electricity Price are expected to decrease in the Forecast (Euro per 1 MWh)* Forecast (Euro per 1 MWh)* Forecast (Euro per 1
Slide 32: Appendices
Appendices 32
Slide 33: Company Structure Incl. Strategic Partners Investments
Company Structure Incl. Strategic Partners Investments Econergy Renewable Energy Ltd. – TASE:ECNR 80% Econergy International Limited UK (Holding Company) Infragreen Fund 20% Invested €87.5m for 20% stake Based on €350m pre-money co. valuation. 50-51% 100% 100% 50% SPCs jointly owned SPCs under the L
Slide 34: Electricity prices in the activity countries
Electricity prices in the activity countries estimated according to the technology* Expected price Market prices in the first State 2024((1) 10 years of operation MIN(2) MAX(2) Italy Wind €/MWh 76 79 90 Italy PV €/MWh 72 63 76 UK PV €/MWh 73 53 67 UK BESS €/kW/year 106)3)2) 106 125 Romania Wind €/MW
Slide 35: Financial Statements Extract – Balance Sheet as of June 30, 2024
Financial Statements Extract – Balance Sheet as of June 30, 2024 (€k) 31.12.2022 31.12.202 3 30.06.2024 Total current assets 32,599 76,806 91,834 Total non-current assets 168,975 295,332 417,383 Total assets 201,574 372,138 509,217 Total current liabilities 15,072 155,131 178,016 Total non-current l
Slide 36: Projects under construction
Projects under construction* financial data in €k Country Project’s name Technology Project’s Status Installe BESS Company’s Expected Initial full Total Total Expected KWh/ Predicted first full five-year operation outcomes (4) d Capacity share)1( connectio operational estimated construction Leverage
Slide 37: Projects under construction
Projects under construction* Financial data in €k Country Project’s name Technology Project’s Status Installed BESS Company’s Expected Initial full Total estimated Total Expected KWh/ Predicted first full five-year operation outcomes (4) Capacity Capacity share)1( connection operational construction
Slide 38: Projects approaching construction
Projects approaching construction* Financial data in €k Country Project’s name Technology Installed BESS Company’s Construction Expected Initial full Total Total Expected KWh/ Predicted first full five-year operation outcomes (4) Capacity Capacity share)1( start year connectio operational estimated
Slide 39: Projects approaching construction
Projects approaching construction* Financial data in €k Country Project’s name Technology Installed BESS Company’s Construction Expected Initial full Total Total Expected KWh/ Predicted first full five-year operation outcomes (4) Capacity Capacity share)1( start year connectio operational estimated
Slide 40: Footnotes for Investor Presentation – Q2/2024
Footnotes for Investor Presentation – Q2/2024 Slide no.5 )1( for more information see immediate release from June 16,2024 (reference number 2024-01-060870) (2) for more information see BOD reports as of Q2/2024 ,Section 1.4.1 G Slide no.6 (1) for more information see BOD reports as of Q2/2024 SECTIO
Slide 41: Footnotes for Investor Presentation – Q2/2024
Footnotes for Investor Presentation – Q2/2024 Slides no.20,22,24,26 (1) The company has strategic partnerships with : Rgreen Invest , The Phoenix and Rivage Investment ,see extension on page 8. The above Company's share reflects its management’s estimates in relation to existing and future partnersh
Slide 42: Footnotes for Investor Presentation – Q2/2024
Footnotes for Investor Presentation – Q2/2024 slide no. 27 (1)The Company's share in the table above reflects its management’s estimates in relation to existing and future partnerships, as published by the Company, and not the actual holding rate as of the date of publication of the report. SLIDE No
Slide 43: Thank You!
Thank You!
Econergy Renewable Energy — Q2 2024 Earnings Presentation on 6ix