27/08/2014

Cap40 Business Wednesday at SolaireDirect Technologies plant in Bellville.

Speaker: Sébastien Feit Managing Director of SolaireDirect Technologies

Confidentiel

Presentation of Solairedirect

August 2014

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Solairedirect at a glance

250 employees worldwide

$1,5 Bn raised for project financing*

525 MW of installed capacity*

45 solar parks in operation or under construction*

250 GWh generated since inception Presence on 4 continents

No.1 Power producer dedicated to solar electricity in France

Pioneers ResponsibleInternationalIntegratedCompetitive ExpertsPartners

Solairedirect industrializes the downstream photovoltaic processes with a cost-driven, risk-controlled and grid-compatible approach

ISO 9001, ISO 14001, ISO 26000, OHSAS 18000

* end 2014

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Incorporated in October 2006 as

France’s first pure play

solar power engineer

IncorporationInternational

expansion and global leadership

Building leadership and

reaching critical size

Establishing itself as the

leader of competitive solar

power

Feed in-tariff environment Grid parity environment

Taking advantage of a transitional period with

feed-in tariffs, to establish a sizeable power

production business

Producing the most competitive kWh in the market and signing the very first market-priced

solar PPA

Replication of its proven business model abroad

Huge growth potential given exponential demand

Development of new offers (hybrid solutions)

2006 2006-2010 2011 2012 onwards

Solairedirect’s mission is to offer a solar MWh that is reliable, efficient, responsible and, above all competitive with other sources of energy

A global pioneer of competitive solar power

Pioneers ResponsibleInternationalIntegratedCompetitive ExpertsPartners

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Solairedirect has been distinguished as the best bidder in tenders in several countries including France, India, South Africa and USA

Lower construction and operating costs

Optimum reliability and bankability, and risk management

Optimized solar electricity value through long-term

supply contracts

Cost competitiveness Optimized funding cost Higher value added per kWh based on services

Solar Power Competitiveness

Competitiveness as a result of a comprehensive strategy

Pioneers ResponsibleInternationalIntegratedCompetitive ExpertsPartners

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Solairedirect industrializes the downstream photovoltaic value chain with a cost-driven, risk-controlled and grid-compatible approach

Design and ConstructionPerforming detailed engineering plans, constructing PV plants at competitive prices with high quality equipment , while respecting the environment

Operation & maintenanceReal time performance monitoring of all installations to maximize power generation

Power sales and grid servicesFeed-in-tariffs, wholesale electricity market, PPAs with utilities or industrial clients

An integrated business model geared towards energy transition

Project developmentFrom identifying sites to obtaining all necessary permits

Financing and legal engineeringStructuring the most relevant and competitive funding package for each project

Procurement and Modules manufacturingCentralized Procurement with internal manufacturing capacity of polycrystalline modules in South Africa

Pioneers ResponsibleInternationalIntegratedCompetitive ExpertsPartners

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An international presence on four continents Solairedirect is developing his model in every part of the world that is looking for new energy solutions

Pioneers InternationalIntegratedCompetitive Partners

France: 395 MW* 84 € / MWh

Chile: 55 MW* 75 € / MWh

India: 36 MW* 88 € / MWh

South Africa: 22 MW* 115 Rd / MWh

US: 26 MW* USD 50 to 80 / MWh

ResponsibleExperts

Solairedirect’s headquarters and subsidiaries Solairedirect’s projects and / or plants * end 2014

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Solairedirect Technologies Solairedirect is a “state of the art” PV modules manufacturing plant in Cape Town

Creation of Company and Plant construction Start –January 2008

Factory Acceptance Test of Equipment – September 2008 - Japan

Line assembly December 2008

Line Installation completed Jan 2009 First Shipment to SD – April 2009Start of Production – March 2009

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Solairedirect Technologies – key figures

150 employees

2 solar parks in operation or under construction in South Africa

120 MWp produced since inception(480 000 modules)

90% of the production exported

Production capacity doubled in 2013 (100MWp/year)

Pioneers ResponsibleInternationalIntegratedCompetitive ExpertsPartners

Solairedirect Technologies is a world class player who has signed an industrial partnership with Renesola.

ISO 9001, ISO 14001, IEC 61215 and IEC 61730

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South Africa : The new solar manufacturing centre

The deflationary character of solar photovoltaics is evidenced by the steady and massive cost cuts over a very long period of time. module prices have fallen by a factor of 95% in the last 30 years, from $16/W to $0.75/W, a 10.5% annual compound reduction, which has accelerated in the last four years due to cyclical reasons (lower polysilicon prices)

In 2008 solar LCOE(1) (Levelized Cost of Energy) for large-scale installations was around ZAR 5/kWh and has fallen to ZAR 1.1/kWh in 2013

Southern and Eastern Africa offer some of the best solar potential – and the lowest cost potential for solar, next to South Africa’s borders

Solar power today matches or outranks the most competitive sources of electricity generation in Africa, next to South Africa’s borders

Source: Bloomberg NEF, Aggreko, Solairedirect

Energy Source Generation costs

Solar PV 70 $/MWh (high irradiation) / 130 $/MWh (low irradiation)

Fuel or diesel150 $/MWh (large systems) / 300 $/MWh (small systems)

Coal40 $/MWh (depreciated plant) /150 $/MWh (new plant)

Gas 60 $/MWh (locally generated gas) / 140 $/MWh (imported gas)

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Solairedirect Technologies – Challenges

Pioneers ResponsibleInternationalIntegratedCompetitive ExpertsPartners

The local modules producers are facing an unfair competition from Asia : Chinese products are sold below their production costs thanks to government tax rebates.

In order to promote the local industry for the national tenders, a certain level of local content is required. Unfortunately, the rules are loose and do not encourage the bidders to use local products.

Create a competitive solar industry in South Africa with the “Fab Approach”.

Cells

Fab contracting “Made in South Africa”

Modules

Inverters, smart grids

Developers, EPC, IPPs

Polysilicon & wafers

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Solairedirect Technologies

Any questions ?