G Panel Peter Veseljak AAT Geothermae
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Introducing the next generation of Geothermal Power Plants Yield increased significantly while aiming for Zero Emission 20+ Mio € investment project in Prelog / Draskovec A.A.T. Geothermae d.o.o. REXPO 2013, Zagreb: „Nominated - m ost innovative investment project“
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Transcript of G Panel Peter Veseljak AAT Geothermae
Introducing the next generation of Geothermal Power Plants
Yield increased significantly while aiming for Zero Emission
20+ Mio € investment project in Prelog / Draskovec
A.A.T. Geothermae d.o.o.
REXPO 2013, Zagreb:
„Nominated - most innovative
investment project“
• Market opportunity• Technological approach• Key Characteristics of the first project (Croatia)• Organization: Company structure, financing, revenues
Agenda
Adressing a new, highly attractive market
Traditional large scale power production
New, decentralized cleanEnergy production
• inflexible design• accidents (nuclear)• CO2 pollution (coal, gas)• use of scare ressources
• shorter lead times• limited capital expenditures• flexible design (market changes)• efficient value chain:• free input factors• less infrastructure (close to market)• no disposal issues
• lowering the risk of blackouts
Society and politicians increasingly sensitive
… with a superior solution / clear USP
Photovoltaics, solar, wind• Power generation unpredictable• Grid limitations• No large scale storage technology
available• Supply does not match demand • Back-up power necessary• Ugly appearance, noise emissions
Classic Geothermal• Base load character• Unobstrusive• Combined heat & power („CHP“)
Lots of frictions and inefficiencies
Geothermal plusIntelligent use of aquifer gases:• even cleaner energy (emission free)• much higher output/yield• improved economics• reservoir of highly attractive sites (Pannonian basin)
Significant aquifer gas reservoir
(in Billion m3) Reserves Resources TOTALConventional Gas 188 239 427Unconventional Gas 5 2720 2725- shale gas- other tight gas- Coalbed methane- aquifer gas- gashydrat
32
456210254800
1000
456213256800
1000
Worldwide gas reserves and (assumed) resources by type, at the end of 2008:
Source: DIW Berlin 2010
The technical concept: simple and compelling
• Standard processes … • … newly and ingeniously combined• … in a standardized /containerized design• ... delivering „clean“ technology + high output/yield
• Prefabrication / Off-the-shelf components (available, reliable, inexpensive)
• Best-in-class cost structure• Highest quality, safety, yield /performance and reliability• Quick & easy adaptable to specific site/market conditions
Ready for rollout in Croatia, the Balcan area , Central & Western Europe
approach
Key elements
CHP generation forming a closed loop
• upstream: no harmful (methane) gases released to the environment,
• highly efficient energy con- version process,
• Cheap heat supplied to the citizens, local companies and agricultural production
• C02 kept in the internal system,
• … and safely stored in the aquifer (downstream),
• stimulating new methane production in aquifer.
Benefits
Croatia selected for the first project
The ideal site could be spotted:
• 100° C thermal water @ 1.850 m depth
… plus significant volume of acquifer gases of extraordinary purity dissolved in water
• Extensive geological research /test drills done• Nearly all concessions / permits obtained• Attractive feed-in tariff to be granted for 14+ years• CHP consumers nearby• Good local networking
Investment costs …
9,000
5,400
4,500
860
1701,570
Capital Cost Distribution
Power Plant
Drilling
Land/physical in-frastructure
technical infra-structure
permitting
Reservein T €
21.5 m€ for 6 MWe/21+ MWth :3‘583 €/kWe installed
Funding
• Significant Private Equity investment provided by Founders and Early Stage Investors
• Additional Bank loans
• Application for significant EU funds („NER300 award“ 2013-2014)• first and only project in Croatia • due diligence by EIB in progress• decision of EU Commission expected latest until mid of 2014
Financing almost closed, additional (strategic) investors welcome for 2-5 Mio €
Structure supports consequent value creation
• company under Croatian law
• safe, clean and efficient operations and maintenance
• high local content , power plant operated by local utility co.
• local anchoring (option to participate on AATG‘s performance)
• Involvement of strong local partner under discussion
Tasks / responsibilities• project development: development and implementation of the
technical concept, delivery of turnkey projects
• Business development: acquiring follow-up geothermal sites and projects (EU), partnering /joint ventures for quick rollout
• portfolio management: holding plus value added services
AATG: Strong, stable revenues
(Mio €) 2015 2016 2017 2018 2019 2020 2021
Revenues - Electricity - Heat
9.28.21.0
11.08.42.6
11.48.62.8
11.98.83.1
12.29.03.2
12.59.23.3
12.89.53.3
AAT geothermae d.o.o. Conservative Case
Still room for improvement: Revenues from heat can be significantly increased!
Already spotting follow-up projects in Croatia
• Focus on the implementation of the first plant in Draskovec• Proof of concept• Stable production of electricity and heat • Transferring local management to the regional utility company• Increasing heat and A/C supply for Prelog
• Already identifying follow-up projects with similar characteristics• Targeting for quick Roll-out of the CloZEd Loop technology • Network of highly efficient, decentralized geothermal driven “CloZEd Loop “
plants• Improving conditions governing locations and lowering national
dependency on oil and gas (imports), promoting local economies and agriculture
Contact
• Bodo von Düring von Düring Management AGLidostrasse 6CH-6006 Luzern Switzerland
[email protected]+41 (0)41 417 40 70
• Peter VesenjakHosting d.o.o. (ltd.)Representative of AAT Geothermae d.o.o. in the regionTel. 00386 (0)2 7877 455 (reception), Fax. 00386 (0)2 7876 120Mobile: 00386 (0)41 514 [email protected]
