GRANSOLAR CORPORATE PROFILE - Gransolar Group...

GRANSOLARRENEWABLE ENERGY FOR A SUSTAINABLE FUTURE

www.gransolar.com

CORPORATE PROFILE

INDEX1. About Gransolar

2. Business Strategy

3. Ingenia

4. PV Hardware

5. Main Construction References

Who we are GRANSOLAR GROUP [GRS] is an energy company with a strong technological base, a solid

manufacturing capacity, and the knowledge required to develop complete projects which canprovide turnkey energy solutions that fit the needs of a constantly changing environment.

In order to become vertically integrated GRS incorporated: INGENIA Solar Energy [ISE], a specialized engineering firm with equipment testing facilities. PVHardware [PVH] design and manufacture support structures and trackers to solar plants.

What we do By January 2016, GRS had successfully completed the construction of 85 plants with more than

400MW capacity. In the O&M business line, GRS operates 260 MW. International footprint: Spain, Italy, Portugal, Bulgaria, South Africa, USA, Guatemala, El Salvador,

Honduras, Chile, Brazil, Peru, Mexico, Pakistan, and Tunisia. As of December 2015 GRS Group has more than 240 employees. 2015 GRS’s Group Turnover was more than 73 M€.

Our focus We focus on what we do best and where we can add the most value: Making and marketing energy

in competitive, converging international markets. Gransolar‘s core businesses are:

Solar energy generation Project development EPC Operation and maintenance Engineering Trackers and Scada Energy storage

About GransolarSolar energy experts

Tracking systemsSupport structureControllers

DevelopmentEPC contractorOperation & Maintenance

Engineering designQuality controlTesting and Commissioning

3

In less than a decade since its founding, GRS has become a global player

Total installed capacity [MWp]

4

2005

First Greenfield Development in Berja, Spain

ISE Quality Control Lab facilities

2007

og1eog1eo

2010 2011 2012 20132009

32 MW installed in ItalyPVH incorporated in the US

Incorporation of Hypesolar to develop 12 MW in Portugal

2008

Dev. & Construction of 8 PV plants in Spain

O&M business line startIncorporation of Gransolar-Ghella in

Italy

20142006

Construction of the first PV plant in Spain

Business Development Line StartIncorporation of Ingenia Solar

Energy (ISE)

30 MW installed in ItalyIncorporation of GRS Chile and US

10 MW concession contracts awarded in Portugal

Development 70 MW in Italy2 new plants in Spain

Award Lesedi and Letsatsi (150 MW) projects in South Africa

Incorporation of ISE South AfricaConstruction of Bailadero (10 MW) in

Spain

Incorporation of GRS in Mexico to develop 100 MW

Construction of 6 MW Sibo(Guatemala)

Award of 24 MW in New Mexico (US)

Construction of 12 MW in PortugalConstruction of 150 MW in South

AfricaIncorporation of GRS Centro America

2015

60 MW PPA awarded in tender process in Brazil

50 MW in Philippines (Project management and PVH supplier)

Founding of Gransolar

About Gransolar

400

350

300

250

200

150

100

50

2013 201520062006 2007 2008 2009 2010 2011 2012 2014 201520142013201220112010200920082007

Key milestones of the year:

Gransolar international scope

USA

EPC: 24 MW

Mexico

Dev: 90 MW

Honduras

EPC: 110 MW

Chile

Dev: 15 MW

Portugal

D&EPC: 12 MWO&M: 12 MW

Brazil

DEV: 60 MW

Guatemala


Spain


Italy


South Africa

EPC: 150 MWO&M: 150 MW

Philippines

EPC: 50 MWPVH: 50 MW

Mauritius

EPC: 1,99 MWO&M: 1,99 MW

Pakistan

Dev: 50 MW

About Gransolar

HQ

5

Plants in Operation

Plants Under Construction

Development

Offices



3. Ingenia

4. PV Hardware


Own engineering and hardware companies > design & development for components: e.g. Structures, tracker,monitoring systems, etc., based on experience feed back : Goal reduce LCOE .

Works procedures and standardization in order to optimize installation times.

Customization. Individual approach to each project conditions.

Constant relationship with manufacturers verifying equipment quality (>50% CAPEX) through own QA/QC certifiedlab, price and reliability.

Big &Small : BIG reliable suppliers + SMALL local certified installers.

Track record analysis of the equipment functioning in order to increase the plants efficiency (operating experience)

SourcingOptimization

BOS Development

Solar PV Specialized

EPC

Business StrategyVertical Integration and Specialization

7

O&MConstructionBOSProject Development Project execution

Vertical Integration

Gransolar, PV Hardware & Ingenia

Integrated approach competitive advantages:

Reduced times and costs developing and assessing project opportunities

Controlled risk during project execution stages

Higher success ratio for project development and execution

Cross-synergies from experience obtained in construction/operation to development and vice versa

Lower cost of capital given redeployment of development/construction/BOS margins as equity into projects

Vertical integration and specialization

GRS + ISE + PVH are vertically integrated covering all activities in the PV Solar value chain (with the exception of module and inverter manufacturing).

Business Strategy

8

Structure

Fabrication

Engineering

Development EPC

Structure assemblySCADA & Corrective

maintenance

Quality control / CommisioningIndependent technical

assesment

Groups corporate structure

Business Strategy

The company’s organization structure follows its integrated business model approach in order to maximize flexibility and efficiency in the course ofbusiness. As of February 2016 the Group had 247 employees.

9

Development & Strategy

Operations PV HardwareCorporate Services

Asset Mgmt. O&M

Ingenia

Project Finance Purchase & Logistics

Manufacturing LegalAdm.

Management Engineering

24 16 80 36 58 33

Storage General ServicesTenders Project Management

Research & Mkt. Intelligence

Installation and commissioning Ecofin Commissioning

Contract Management

Project Development Software HHRR O&M Quality Control

Construction Management

Track record and price

Services

Energy consumption optimization of large industrialcomplexes by using solar energy and energy storagesolutions.

Isolated systems (Micro-grids)

Focus markets:

Australia

South Africa

Central America

Mexico

GRS market segments

Utility scale PV Grid parity Distributed Generation and Storage Solutions

Countries with pro PV capacity policies / generationinfrastructure gap

Large/Mid scale project

RFPs for EPC contracts issued by:

Developers

Utilities

Governments

Focus markets:

South Africa

Mexico, Chile, Brazil

Egypt, Morocco, United Arab Emirates

Markets with high electricity prices

No nuclear / Hydro

High % of diesel / bunker

High irradiation levels

Mid scale projects

Focus markets:

Central America

Caribbean islands

Sub-Saharan Africa

First mover, Speed (T2M) & Financing Technology enhancement & Financing/Leasing structuring

Business Strategy

10

Services

Opportunity structuring

Project design

Site / land development

Permits and connection

Offtake negotiation / tender

Debt financing

Equity structuring

Key activities / resources

Engineering and budgeting

Knowledge of local markets / localpartners and/or local early stageproject developers

Services

Equipment procurement and installation

Engineering and quality control

Key activities / resources

System’s technical design and tailor madeconfigurations through in-house engineering andlaboratory

Project management

Local workforce management

Remote plant monitoring and control / preventivemaintenance

O&M feedback to improve component / materialselection in construction and reduce costs / improveperformance

Services

Development of custom BOS (excl. inverter)technological package providing lowest total cost ofinstallation, industry leading reliability andunparalleled customer support

Single Axis trackers and fixed structure

SCADA proprietary software and hardwareintegration

Key activities

Swift tailor-made design process

Cost / performance efficient designs

Own manufacturing of customized / performancesensible parts

GRS business lines

Development Construction / O&M Tracking Systems and Support Structure

Business Strategy

11

GRS Key highlights

Business Strategy

Strong

industry

fundamentals

1

Integrated

Business

Model

2

International

DNA

3Solid track

record

execution

5

Sound

development

and

construction

pipeline

6

7

Highly-qualified

employees

12

• Renewable energy is leading growth in global energy market

• Market and technical expertise synergies among development, construction, operation and hardware activities

• More than 400 MW, developed and/or built, in 4 continents and 10 countries

• Presence in more than 15 countries and 5 continents.

• Unmatched historical project execution within deadline and higher operating performance ratios

• Board’s strength built upon the experience and reputation of some of the most accomplished professionals

• Highly trained staff with a profound knowledge of the industry

• EPC Pipeline 2016: 3GW

• Dev Pipeline: More than 400MW

• Constant presence across the value chain to control risk approach to technology



3. Ingenia

4. PV Hardware


Ingenia Solar Energy (ISE) is a consulting and engineering company specialising in photovoltaic projects. With an extensive experience as technical advisors to both developers andfinancial institutions and with an independent laboratory specialized in quality control of photovoltaic (PV) modules and on-site and performance tests inspections of PV plants.Ingenia's engineering team designs and optimizes large photovoltaic projects as well as roof-top installations.

OUR TEAMConsists of highly-qualified experts, researches andtechnicians, with recognized international experience.

OUR SERVICEA complete and customer oriented service which covers all areas of your project.Adjusting our service to the demands of each particular project, making sure you get preciselywhat you need.

OUR VALUESProfessionalism, acknowledged experience, independence and commitment. Workload capacity, quality and quick service.

OUR LOCATIONSSpain

MadridAlmeria

USASan Francisco

South AfricaJohannesburgBloemfontein

A company specialized in design and control of renewable energy systems

Ingenia

Lowering Technological Risk

Increasing performance

Lowering O&M Costs

LOWERING LCOE

14

* Levelized Cost Of Energy

LCOE*

PV module compliance testing ensures that solar panels conform to international quality standards and will survive in an outdoor environment for their expected lifetimes.

Our resources

Ingenia

INGENIA'S REMOTE OPERATIONS CENTRE (ROC) at Albacete controls and monitors the performance of PV systems all year long. The Centre is resourced by a team of technicians using high performance computer hardware and software which is upgraded regularly and supported to ensure optimum performance.

Validation and verification tests require specific instrumentation to complete. At Ingenia we invest in the latest specialist equipment to ensure that our laboratory technicians and engineers have the tools they need to provide the most accurate results.

Our technicians have significant experience in the inspection and assessment of PV modules. Visual inspection for major defects Thermographic inspection for hot spots

or cell cracks Insulation resistance test Peak power determination

15

INGENIA'S LABORATORY is capable of testing 200 PV modules per week. The laboratory can easily co-ordinate the receipt, storage and transfer of large PV panels from multiple clients, suppliers and locations.



3. Ingenia

4. PV Hardware


Comprehensive “project specific” Solutions. Services & turn key project support. Site layout, geotechnical review and foundation design, permit support, onsite construction support.

Engineering, third party structural engineering and in house quality control. Minimize construction time focus. QA/QC from start to end.

Supply Chain. Flexibility. Design adaptable to local structural code and local manufacturing availability. Exportable

Bankability. Third party review by Black & Veatch and Vector Cuatro, structural reviewed by Kleinfelder.

PV HARDWARE [PVH] is a provider of turn key innovative solar tracking and energy storage solutions for the global utility-scale solar market. PVH’s product lines are designed and engineered by leading industry professionals to deliver the lowest total cost of installation while providing unparalleled customer service and support during all phases of the project.

Incorporated in 2011 it has developed and market over 560MWp of hardware in the world.

About PV Hardware

PV Hardware

17

USA

132MWp+

Europe

92MWp+

Latin America

120MWp+ Africa

162MWp+

Asia

53MWp+

Manufacturing

PVH has invested in a state-of-the-art metal works to ensure competitive price points, as well as providing tighter quality controls and more timely fabrication.

Logistics

PVH can coordinate delivery of materials according to client’s requirements, making rolling deliveries which are organized to facilitate construction.

Value-added services

PV Hardware

Comprehensive Engineering Services & Site Support

Site layout, geotechnical review and foundation design, permit support, and on-site construction and commissioning support.

Turnkey Construction

In addition to standard delivery of trackers, PVH offers comprehensive construction services, which include foundations, tracker erection, and mechanical mounting of PV panels.

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Third-party Structural Engineering and Quality ControlPartnerships with various structural engineering firms to ensure compliance with local codes regarding structures, foundations, etc.

Bankability

PVH has available technical due diligence reports from Black & Veatch and Vector Cuatro validating its bankable methodologies, technologies, and organization.



3. Ingenia

4. PV Hardware


Lesedi, South Africa – 80.1MWp. Fixed-tilt racking.

Main Construction References

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Letsatsi, South Africa – 80.1MWp. Fixed-tilt racking


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Agua Fría, Honduras– 59,6 MWp. Fixed-tilt structure


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El Bailadero, Tenerfie, Spain– 10,5 MWp. 2-Axis Tracker


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Cisterna, Italy– 5,1 MWp. Fixed-tilt structure


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CONTACTwww.gransolar.com

MADRIDSepulveda, 17, Pª Baja 1 y 2

Alcobendas Madrid 28108 Spain+34917 364 248

[email protected]

USA222 Sutter St; # 410

San Francisco, CA 94108Tlf: +1 (415) 243-4469

SOUTH AFRICA Unit 102A, 1st Floor – Attenbury

House Hampton Office Park20 Georgian Crescent East

Bryanston, Johannesburg, South Africa

+27(0)[email protected]

ALMERÍAAntonio Cano, 140

1º Izda04009 ALMERIA

EspañaTel: +34 950 278 020Fax: +34 950 278 941

VALENCIAPolígono Industrial Castilla,

Vial 1, nº 1346380 Cheste (Valencia)

Spain

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