Presentación de PowerPoint - Bilbao Marine Energy Week

REPSOL ENERGY VENTURES
TOCARDO TIDAL TURBINES
The challenges of bridging the gap between technology and
commercial development of new technologies
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Bilbao Marine Energy Week
April 2013
Repsol
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REPSOL IN A SNAPSHOT
Financial Highlights [FY 2012, M€]
Market Cap.
22,156
28,977
EBITDA
6,956
8,440
Net Income
2,193
2,060
Investments
6,255
3,721
Upstream Presence
Shareholder’s Structure
Treasury Shares
5.0%
Sacyr
10.0%
Pemex
9.5%
Caixabank
12.8%
Foreign Institutional
42.0%
Retail
10.8%
Local
Institutional
9.9%
Refining – Leaders in Spain.
CORUÑA
Refineries Repsol
Other refineries
Oil pipeline Repsol
Oil pipelines CLH
BILBAO
TARRAGONA
PUERTOLLANO
OPERATOR
NON OPERATOR
Exploration
CASTELLON
CARTAGENA
HUELVA
ALGECIRAS
Production
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Services contracts
In operation of
production
(*) Additionally, leader Refiner in Peru [“La Pampilla”]
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REPSOL NUEVAS ENERGÍAS
• The New Energy Business Unit reinforces Repsol commitment
on the development of sustainable energy solutions.
• Created in April 2010 to search new energy solutions which are economically viable, efficient &
sustainable.
• We identify, promote and develop business initiatives on Bioenergy, Renewable Energy,
Sustainable Mobility, Energy Storage and Energy Efficiency.
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Repsol Energy Ventures
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REPSOL VENTURE PROGRAM WAS LAUNCHED
IN SEPTEMBER 2010……
….Aiming to invest in early-stage, high potential, high risk, growth start-up
companies in high technology industries:
Bioenergy
Elect. Mobil.
RREE
Energy Storage
Development Capital
• Strategic investments in New Energy technologies to develop and/or add value to New Energy business lines.
• Closely linked to the Technology Roadmaps defined for Repsol New Energy approach.
• Controlling stakes to leader the development of the business plan of the investee companies.
Venture Capital
• Investments in new businesses within the scope of New Energy.
• Minority stakes in CleanTech companies that offer a disruptive innovation, or complement NNEE businesses or
contribute to a favorable niche market positioning within any New Energy sector.
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WHERE ARE WE FOCUSED?
Financing Sources depending on company’s lifecycle
Stock Exchanges
Average volume per deal [Million Eur]
Private equity
Alternative Markets
Repsol Energy Ventures
Venture capital
Positioning
Family offices
Business Angels
Informal Investors
Familiy, friends & fools
Business Project
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Formal Investors
Start up
companies
Growth and
Consolidation
Consolidated
Companies
Company’s
lifecycle
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INVESTMENT TOOLS
Repsol Nuevas
Energías S.A.
MICINN
100%
Management
Fee
REPSOL NEW ENERGY
VENTURES S.A.
Repsol’s owned investments in earlystage, high potential, high risk, growth
start-up companies in high technology
industries
INVESTMENT 1
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INVESTMENT 2
Government Risk Capital
Investment Vehicle
“INNVIERTE REPSOL NUEVAS ENERGÍAS”
• Co-Investment agreement with the Spanish
Ministry of Economy and Innovation
• Investment Commitment: 21 M€
• Repsol: 12 M€ / MICINN: 9 M€
INVESTMENT 3
INVESTMENT 4
INVESTMENT 5
INVESTMENT 6
INVESTMENT 7
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PORTFOLIO COMPANIES @ Mar 2013
REPSOL S.A.
100%
REPSOL Nuevas
Energías S.A.
100%
Repsol New Energy
Ventures S.A.
20%
ALGA
ENERGY
Inversión inicial: 3M Eur
Participación: 20%
Fecha: Agosto 2010
50%
50%
IBIL
Microalgae
E.V.
Recharge
Stations
100%
NEOL
Advanced
Biofuels
PRINCIPLE
POWER INC.
Floating
Wind
Offshore
TOCARDO
Tidal
Energy
70,5%
IBILEK
WINDPLUS
e-carsharing
Inversión inicial: 6M Eur
Participación: 31%
Fecha: Junio 2012
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18%
33,5%
SPV
Demonstration
tech WF
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PORTFOLIO COMPANIES @ Mar 2013
Biotechnology
Inversión
inicial: 3M Eur
Spanish technology-based company
specialized in the field of
microalgae
Participación:
20%
biotechnology. R&D programs. Own
patents ofAgosto
Photo Bioreactors.
Pilot
Fecha:
2010
plant in Barajas, Madrid. LIFE+
project for the installation of a demo
plant in Arcos de la Frontera (Cádiz,
Spain).
www.algaenergy.es
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Electric Mobility
Advanced Biofuels
Leading Spanish company in the
electric vehicles recharging
services. Business model with
recurrent revenues. More than 300
recharging points installed. World´s
top Control Center. E-carsharing
subsidiary IBILEK.
www.ibil.es
www.ibilek.es
Bioindustrial spin-off from Spanish
biotech leader NEURON.
Proprietary and patented
developments to generate biofuels
from different feedstock under
unconventional fermentation
processes with micro-organisms.
www.neolbio.com
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PORTFOLIO COMPANIES @ Mar 2013
Floating Wind Offshore
Tidal Energy
US company owning world´s first full
scale prototype of submersible offshore wind power platform under
Windfloat technology.
Dutch company developing turbines
for tidal and stream electric
generation, with own technology
and several projects ongoing in
rivers, dams and channels, with
future approach on off-shore tidal.
www.tocardo.com
www.principlepowerinc.com
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Clean, sustainable and
Reliable energy solutions
Tocardo Tidal Turbines
Bilbao
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Clean, sustainable and
Reliable energy solutions
About
Products
Market
Deployment
Who we are
•
Netherlands based tidal turbine
manufacturer
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•
Fully commercial since 2011
•
Proven technology
•
Worldwide network
Clean, sustainable and
Reliable energy solutions
About
Products
Market
Deployment
Our Learning Curve
2010 – commercial
2008 - T50-A
2005 - Horizontal axis
2002 - Ring generator
... a Proven Product
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1999 Venturi, floating
Clean, sustainable and
Reliable energy solutions
About
Products
Market
Deployment
.... Large scale from 2015 on-wards
Transition to
Commercialization
Since 2008.... small sites
Technology Development
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First Sales
Closing strategic Share holders
Clean, sustainable and
Reliable energy solutions
About
Products
Market
Deployment
Sensible strategy
Stepwise
up scaling
Focus on
kWh price
Partner with
specialists
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•
Current market for < 500 kW
•
Commercialize smaller turbines
•
Easier and cheaper to install
•
Reliable technology
•
Minimize maintenance
•
Reduce project costs
•
•
•
Project development
Financing
Installation and foundation
engineering
Clean, sustainable and
Reliable energy solutions
About
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Products
Marrket
Deployment
Clean, sustainable and
Reliable energy solutions
About
Products
Market
Deployment
Commercially Available
T100
T200
Development
T500
T1000
Power
Blade diameter
Cut-in speed
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RPM
T100
T200
T500
T1000
100 kW
200 kW
500 kW
1000 kW
3.1 – 6.3 m
4.5 – 9.0 m
7.1 – 14.2 m
Coming soon
0.4 m/s
0.4 m/s
0.4 m/s
Coming soon
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Coming soon
Clean, sustainable and
Reliable energy solutions
About
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Products
Market
Deployment
Clean, sustainable and
Reliable energy solutions
About
Products
Market
Deployment
.... Large scale from 2015 on-wards
Step-in of Utility companies
Since 2008.... small sites....
‘local’ intiatives/remote industry
Small plants- several MW
River, Canal, Near shore
CONCLUSION: Developing a Tidal
Power Plant is a Complex Task
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•
•
•
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Public Consultation and Consenting
‘Configuration’ of the Tidal Power Plant
Front-End Engineering & Design of all critically
engineered components
Operation & Maintenance
De-comissioning
Mega-parks/ Off-shore
Clean, sustainable and
Reliable energy solutions
About
Products
Market
Deployment
Making Tidal Power Plants feasible
• Total Cost of Energy
• Generating electricity at lowest cost per kWh
Proof your Technology before scale-up
• Resource: River, In/Near shore, off shore
Product philosophy
• Scalable: turbines are identical for all markets
• Minimal maintenance
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Clean, sustainable and
Reliable energy solutions
About
Products
Market
Deployment
Legal Solutions
Overall Project
Finance Solutions
-
-
-
PPA
Grants / Subsidies
FIT / COMFIT
Environmental
Etc
Foundation solution
Grid connection
Monitoring systems
Etc.
Financial Engineering
Project Equity
LCs for delivery
Etc.
standard
specific
Tidal Power Plant
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Site Allocation
Local Contractors
Local Stakeholders
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-
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Site identification
Site acquisition
Public consultation
Consenting
Engineering
Construction companies
Cranes, Vessels etc.
Operation & Maintenance
Local Control / Guidelines
Stakeholders management
Local Equity
Clean, sustainable and
Reliable energy solutions
About
Products
Market
Deployment
To conclude
• 5 years in operation
• Small is beautiful
• Reliability is key
• Costs levels (TCE) counts
• Array solution : river / near shore
• Off shore along the same lines
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Clean, sustainable and
Reliable energy solutions
Contact
Tocardo International BV
www.tocardo.com
info@tocardo.com
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Head Offices
UK Offices (Scotland)
Canada Offices (NS)
Sluiskolkkade 2
Forss Business Park
Purdy’s Warf Tower 2
1779 GP Den Oever
KW14 7UK Thurso, Caithness
1300-1969 Upper Water Street
The Netherlands
United Kingdom
Tel: +31 227 727 200
Tel: +44 1847 808 212
Halifax, Nova Scotia, Canada
Clean, sustainable and
Reliable energy solutions
Market
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About
Products
Deployment
Surveying & Assessment
Manufacturing/Assembly
Installation
Maintenance
Clean, sustainable and
Reliable energy solutions
Support Structure Solutions
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Clean, sustainable and
Reliable energy solutions
Support Structure Solutions
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Clean, sustainable and
Reliable energy solutions
Support Structure Solutions
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Clean, sustainable and
Reliable energy solutions
Pipeline: Rivers & Channels
Nepal (Country wide) – Canada (Cape Breton, Bay of Fundy) – UK (North Ireland,
Scotland) – Near East (Several irrigation channels)
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Clean, sustainable and
Reliable energy solutions
Pipeline: Tidal barrages & Inshore
The Netherlands (Den Oever, Oosterschelde) – Japan (4 Island-connecting bridge
locations
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Clean, sustainable and
Reliable energy solutions
Pipeline: Estuaries & Inlets
The Netherlands (Texel) – Scotland (West Coast, Dundee, Montrose) – Canada
(Fundy coast, Cape Breton, Vancouver Island)- Chile (Southern tidal channels)
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Clean, sustainable and
Reliable energy solutions
Pipeline: Offshore
Scotland (Pentland Firth) – Canada (Cape Breton, Bay of Fundy) – UK (Chanel Islands)
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