Company Profile (English) - cirgroup.it · 14,500. 400,000. 500,000. 650 (*) Fonte: ... 13 Sorgenia...

April 2010

Company Profile

1 Sorgenia Company ProfileApril 2010

The leading private energy operator in Italy

Sorgenia is the leading private operator in Italy in the domestic power and natural gas market.

Energy efficiency and sustainable development are the principles underpinning its growth, both as producer and as supplier of electricity and gas to end user clients.

Established in 1999 (with the name of Energia SpA), Sorgenia broke even in its first year of business.

Thanks to an ambitious business plan in continuous growth, already today the Sorgenia Group: Ranks fifth as a domestic producer of electricity; Has an installed capacity of approximately 3,800 MW

and plants under construction for a further 800 MW; Is one of the top operators in the gas sector: every

year it buys 2 billion cubic metres to sell to its clients with 3 billion in 2009 (5 bln in 2012) for its own production plants.

Revenues 20092,3 mld €

Clients560.000

Employees408


Important numbers which continue to rise

Revenues EBITDA

Net income Employees

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at 31.03.2010


Shareholders

Holding with diversified interests: Media (Gruppo Editoriale L’Espresso), Automotive (Sogefi), Healthcare & Services (KOS), Finance.

Management with consolidatedexperience in the development of new initiatives

Listed on the Italian stock market (in the S&P MIB since 20/03/2009)

Top Austrian power provider Mainly hydroelectric power generation Installed capacity of around 8,300 MW Listed on main international stock markets

SorgeniaHolding Management

35.0% 65.0%

16.9% 79.7% 2.2% 1.2%

at 31.03.2010


The Sorgenia Group

78% Energia Italiana (50% Tirreno Power)

Thermal

100% Sorgenia Power

90.67% Sorgenia Puglia100% Sorgenia Solar(Group)

Solar

GAS

50% Fin Gas(69.77%

Lng Med Gas Terminal)

Wind

Environmental Sustainability Activities

100% Sorgenia USA(69.47% Noventi Ventures II LP)

25% GICA

Venture Capitalin Clean Tech.

Carbon Asset

Energy Saving

LNG Terminal

E&P

Renewables

Hydro

Biomass

100% Sorgenia Idro

70% Sorgenia Menowatt100% Sorgenia E&P

(Group)100% SorgeniaBioenergy SpA

99.99% SociétéFrançaised’Eoliennes(group)

100% Sorgenia Vento

75% SorgeniaMinervino

100% SorgeniaRomania

50% Volterra AE

at 31.03.2010


Instruments

Objectives

Growth strategy for sustainable development

Sorgenia’s growth strategy aims to consolidate its position as a prime operator on the national energy scene, through the following:

Strengthening its role as one of the leading companies in sustainable power generation (with an average thermoelectric emissions level 39% below the national average today).

Confirming its role as leading dual fuel energy provider – electricity and natural gas – while also promoting energy efficiency to end user clients.

Using BAT – the Best Available Technology to build new power generating plants.

Increasing production from renewable sources, which are more easily available and cheaper.

Extending the environment management systems of the power production plants (already today the plants at Termoli, Torrevaldaliga and Vado Ligure are EMAS registered -Eco Management Audit Scheme, while the Termoli plant is also ISO 140001 certified).

Boosting the inclusion of energy efficiency services in the offer of electricity and gas to the various target customers.


Leading player in the free market

Approach

Structuring the sales network according to the target customers involved.

Diversifying the offer and solutions put forward to customers.

Integrating supply of electricity and natural gas with energy efficiency services.

Customers

0

50,000

100,000

150,000

200,000

250,000

300,000

350,000

400,000

450,000

500,000

> 20% of the free market (*)

150,000

1,100 2,800 5,000 14,500

400,000

500,000

650

(*) Fonte: elaborazioni AEEG

550,000

600,000 560,000

Power volumesapprox.

10 bio kWh*

Gas volumesapprox.

2 bio mc*

* Year 2009


Power generating plants in Italy and in Europe

WindPhotovoltaicHydroThermoBiomass

Legenda

In production

Authorized/ Under control

Voie Sacrée

Argonne/EpenseCôtes de Champagne

Widehem

BernaySaint Martin

Saint Crépin

Plainchamp

PonteyLa SallePontSt.Martin

Vado Ligure Nucleodi Genova

Torrevaldaliga Sud

Aprilia

BeneventoAvellino

San Gregorio Magno

Napoli LevanteCastelnuovo di Conza

Villacidro2

Marrubiu

Villacidro1

Cagliari

Acate

Siracusa

Enna Vibo ValentiaGioia Tauro

Matera

MinervinoMolfetta

Modugno

Termoli

Fossato di Vico

Turano-Bertonico

San Martinoin Pensilis

Castiglione d’Orcia

Leffincourt

Bonefro

Cuneo Ravenna


Power generating assets and investments

(*) Including its share of Tirreno Power

Total

4.2 bln €

INVESTMENT

Spent and scheduled

2.7 bln €

Forecast

1.5 bln €

Total

5,300 MW(*)

CAPACITY

In production and in commissioning

3,800 MW (*)

Under construction

800 MW

At various stages of development

700 MW

64%already spent or

committed

The 2003-2012 investment plan with which Sorgenia aimsto increase its generating capacity involves € 4.2 billion of investment.


Regasification terminal projects

Gas sourcing activities

Gioia Tauro (RC) regasification terminal: joint-venture project for 12 billion cubic metres per year (10% of domestic demand), in the advanced stages of the authorization process.

Other projects:- Construction of a regasification terminal at

Trinitapoli (FG), in the advanced stages of study and preliminary analysis;

- Construction of an offshore TORP terminal.

Imports of natural gas from producer countries

Imports directly from Libya:2 billion cubic metres per year via the Green-Streampipeline.

Ongoing activity in international markets for short-term contracts for extra imported supplies.

Imports from Libya

Other import sources

Gioia Tauro (RC)

Trinitapoli (FG)

Regasificationprojects

CommercialStrategy & Development


Three forms of saving, for every client

with inexpensive products and contracts that give premiums

over time

with a saving of 240 g of CO2 in emissions into the atmosphere

for every kWh consumed*

through the promotion ofinstruments for using energy

efficiently

… in price

… in consumption

… for the environment

Thanks to the company’s strong client focus, to its commitment to the promotion of energy efficiency in end uses and to the environmental sustainability of its power production plants, Sorgenia gives the clients who select the company as their provider the following three types of saving:

* Own calculations from Terna figures for 2006


The market in which we operate: who consumes energy in Italy

100,000

Electricity

Small manufacturing companies Service companies Banking groups

2,000

4.5 million

26 million

ANNUAL CONSUMPTION

per clientCUSTOMER

NUMBER

over200,000 kWh

over9,000,000 kWh

up to200,000 kWh

approx. 2,700 kWh

40,000

Natural gas

1,200

880,000

18 million

over50,000 cm

over2,000,000 cm

up to50,000 cm

approx. 1,200 cm

ANNUAL CONSUMPTION

per clientCUSTOMER

NUMBER

Shops & other traders Bars, restaurants,

hotels Small banks Professional firms

Large manufacturing companies

Condominiums Private individuals

Micro-businesses& professionals

Homes& households

Small & MediumEnterprises

LargeIndustry


The right interlocutor for each customer

High technical profile Account Managers who are specialized and who report directly to Marketing and Sales Director

Web Large retail storesContact Center

Sorgenia has different sales structures designed to meet the needs of a broad and diverse market, so as to guarantee that each target market has an interlocutor able to advise on the most suitable energy solutions.

Network of external agents, who are constantly updated and who are part of Sorgenia’s marketing and sales structure Business sector associations Telemarketing

Widespread network of local agents who are logistically close to companies based in the areas where they operate. WebContact Center


Homes& households


LargeIndustry


Electricity and gas as products

Customizedsolutions

Electricity Natural gas Sorgenia was the first company in Italy to transform energy from a commodity into a product.

Today it can offer each of its customers products and supply solutions that vary according totheir specific requirements.

Customizedsolutions


Homes& households


LargeIndustry


CleanEnergy: energy with a green origin

A product for those who want to be certain that they are buying only electricity produced exclusively from plants using renewable sources, which are defined as such and are verified, without the use of any fossil fuel or the emission of greenhouse gases into the atmosphere.

The control scheme is carried out by DNV – Det Norske Veritas, the international certification body,to guarantee that every kWh bought by the client corresponds to energy sourced from renewable plants.

No additional cost for the client as the price per kWh is the one fixed by the Authority for those who have not entered the free market (most protected market).

ClientOFFER REQUEST

VERIFICATION


Make energy worth more, with energy efficiency

Individual energy audits, to optimize consumption and increase the productivity of the business.

Energy Analysisservicewhich maps out the types of use of electricity and indicates solutions for optimizing them.

Intelligent consumptionrange of easy-to-use instruments for reducing overall consumption.

Save&Heat program, replace your old centralized heating system and manage your heating optimally (reserved for condominiums).

Piano MotorEFFfor improving the efficiency of asynchronousmotors.

Dibamotora device for enhancing the efficiency of asynchronous motors.

Turnkey solutions for installing photovoltaic systems.

Dibawatta device for making external lighting more efficient

Intelligent consumptionrange of easy-to-use instruments for reducing overall consumption.

Turnkey solutions for installing photovoltaic systems.


Homes& households


LargeIndustry

Power Generation


Power generation

Tirreno Power, 5th ranking operator in Italy

1 2

34

5th ranking Italian operator in the field of power generationInstalled capacity: 3,380 MWExpected annual production with repowering completed: 16 TWh

Investment needed for modernization and repowering:

900 mln €over period 2003-2008

Sorgenia’s stake:50% controlSorgenia controls 78% of Energia Italiana, which controls 50% of Tirreno Power

Hydroelectric

Thermoelectric

Key

1. Vado Ligure (SV)

2. Genoa plants

3. Torrevaldaliga Sud (RM)

4. Napoli Levante

(*) EMAS Environmental Management and Audit Scheme(**) 2007 data published by Terna

Production unit Fuel InstalledCapacity

EMAS Reg. No (*)

Vado Ligure (SV)VL3VL4VL5

CoalCoalGas

330 MW330 MW800 MW

000215/04

Torrevaldaliga (RM) TV4TV5TV6

GasGasGas

320 MW400 MW800 MW

00029/00

Napoli Levante NA4 Gas 400 MW


Power generation

The Termoli Combined Cycle plant

1st greenfield plant to be wholly designed and built by Sorgenia.

1st plant authorized in Italy after the “power plant unblocking” Law (Authorization Decree: MAP 55/01/2002).

1st case in Italy of merchant non-recourse project financing to build a power generating plant.

Installed capacity: 770 MW

Annual production: approx. 4 TWh

Investment required: approx. 410 mln €

Emissions of CO2 avoided

per year:1 mln tonnes(compared to a similar production from traditional plants)

Started production: September 2006

Architectural design aimed at upgrading the industrial landscape and blending in with the surrounding area.Program of Environmental Governance and UNI EN ISO 14001 certification.EMAS (Eco-Management and Audit Scheme) registration no. IT 000992. Safety Certification OHSAS 18001.

Termoli


Power generation

The Modugno Combined Cycle plant


Annual production forecast: 4 TWh


Construction began: May 2006

Started production: December 2009

Greenfield project wholly developed and managed by Sorgenia.

Plant authorized by MAP Decree MAP 55/09/2004.

Modugno


Greenfield projects wholly developed and managed by Sorgenia.

Power generation

Combined Cycle plants authorized / under construction

Installed capacity

Forecastannual

production

Expectedinvestment

Scheduled start of

operations

Authorizing Decree

Bertonico –Turano Lodigiano (LO) 800 MW approx. 4 TWh approx. 450

mln € 3rd Q 2010 MAP 55/02/2005

Aprilia (LT)800 MW approx. 4 TWh approx. 450

mln € 2011 MAP 55/01/2006

Aprilia

Bertonico -Turano Lodigiano

In July 2009 notice to proceed was given to the contractor Ansaldo Energia for the construction of the Aprilia power plant (LT).

In the same month, Sorgenia signed a ten-year loan agreement with a pool of prime banks for 600 million euro to fund its investments in thermoelectric generation at Bertonico - Turano Lodigiano and Aprilia.


Power generation

Wind plants in Italy

Status Installedcapacity

Annualproduction

Fossato di Vico (PG) Active 1,5 MW approx. 3 GWh

Castelnuovo di Conza (SA) Active 10 MW approx. 22 GWh

Minervino Murge (BA) Active 18 MW approx. 46 GWh

San Gregorio Magno (SA) Active 39 MW approx. 85 GWh

San Martino In Pensilis (CB) Active 12 MW approx. 26 GWh

Bonefro (CB) Authorized 8 MW approx. 17 GWh

Key

1. Fossato di Vico2. Castelnuovo di Conza3. San Gregorio Magno4. Minervino Murge5. San Martino in Pensilis6. Bonefro

1

23

45 6


Power generation

Wind plants in other countries

SOCIETE FRANÇAISE D’EOLIENNES (SFE)

Operator vertically integrated in all the stages of the wind supply chain.

Acquired by Sorgenia (with a 99.89% stake) in December 2007.

Production portfolio: Situation:

112 MW installed 32 MW under construction 70 MW authorized 1.000 MW at various stages of development

SORGENIA ROMANIA

Company with headquarters in Bucharest, set up in March 2008 (100% Sorgenia), devoted to wind development in a country with high potential which has not yet been exploited.

Situation: 88 MW authorized 340 MW at various stages of development

Voie Sacrée

Argonne/EpenseCôtes de Champagne

Widehem

BernaySaint Martin

Saint Crépin

Plainchamp

Leffincourt



Forecast annual production: approx. 18 GWh


Emission of CO2 avoidedper year:

over 9,300 tonnes

Site location: South of Italy, typically in Industrial Consortia(maximum yield with minimum impact on environment)

Further development forecast: 50 MW to be installed by 2012

Through its subsidiary Sorgenia Solar, Sorgenia is the top producer of photovoltaic energy in Italy, in large scale plants (> 0.05 MW).

Power generation

Photovoltaic plants with minimum impact on environment

Key

1. Marrubiu2. Villacidro 13. Villacidro 24. Cagliari5. Vittoria6. Siracusa7. Enna8. Gioia Tauro9. Vibo Valentia10. Avellino11. Benevento12. Molfetta13. Matera

123

45

7

689

1011

12

13


TIRRENO POWER

SORGENIA IDRO1

Mini-hydro flowing water plants : no dams and maximum respect for environment.

A total of 16 plants in the Genoa Hydroelectric Nucleus.

23

Power generation

Our hydroelectric plants


2008 annual production: approx. 30 GWh

CO2 emissions avoided: over 16,000 tonnes


2008 annualproduction:

approx. 200 GWh

CO2 emissions avoided: over 113,000 tonnes

Key

1. La Salle2. Pont St. Martin3. Pontey4. Genoa plants

4

Natural GasSourcing


Gas imported from Libya via Green-Stream

Import of gas directly from Libya via the Green-Stream pipeline:

8 billion cubic metres per year (of which 2 are reserved for Sorgenia);

520 km, from Mellitah (Libya) to Gela (CL), via the Mediterranean Sea;

Import began in October 2004 on the basis of a long-term contract.

GELA

MELLITAH


The regasification terminal at Gioia Tauro (RC)

A stake of approximately 70% in the company LNG Med Gas Terminal for

the construction of an innovative regasifier at Gioia Tauro (RC).

Regasification capacity: 12 billion cubic metres per year(3/4 tanks of approximately 160,000 cm each).

Size of gas tankers that can moor: up to 270.000 mc. (Q-max carriers)

Cryogenic conduits

(approx. 3.5 km) Connection to the Snam network

(approx. 6.5 km)

Pier where gas tankers can moor

50% 50%

70 % 30 %

FIN GAS Srl MEDGASITALIA Srl


Gioia Tauro regasifier: a European project

Expected timing for the development of the project :

in December 2009 the second Service Conference was held which expressed a positive opinion on the question of an authorization to build and run the terminal

final authorization of construction expected in the first semester 2010.

Forecast investment:

Estimated investment: approx. 1,000 million €;

Non-repayable loan granted by the European Commission on 9/6/2008 for an amount of approx. 1.6 million €;

Loan facility granted under the TEN-E (Trans European Network) program, in support of European energy infrastructure.

http://www.noventivc.com/heliovolt.htm�


Sorgenia Exploration & Production

A team with a proven international track record in the E&P sector;

Numerous business initiatives already under way for the acquisition of medium-low risk assets in the North Sea and in Eastern Europe;

Investments soon to be made in selected areas with a high potential for the extraction of gas and hydrocarbons.

On July 1 2008 Sorgenia E&P was set up to guarantee the Group an integrated business in the whole of the energy chain.

Other activities


GICA: purchasing emissions credits

Aim of the company: to buy, sell and trade Carbon Assets, in compliance with the flexible mechanisms established by the Kyoto Protocol, and in particular Certified Emission Reduction Units (CERs)

This business will foster the creation of clean energy projects in countries such as China, India, Brazil and Russia.

Set up in 2007, GICA

is a Swiss company in

which Sorgenia has a

25% stake.

25% 25% 25% 25%


Noventi: in Silicon Valley, for cutting-edge programs

Noventi has invested in new businesses with a highly innovative technological content, specifically:

Aurora Biofuels: for the production of bio-fuels from algae without interfering with the food chain

HelioVolt: marketing “thin film” photovoltaic panels, which are highly efficient and are produced using an innovative printing method

Lumenergi: electronic ballast that can be regulated to give highly efficient lighting, especially for commercial buildings

Mariah Power: micro wind turbines on a vertical axis with an output of between 1 and 3 kW

Set up in 2006, Noventi II LP is a venture capital investment fund for industrial initiatives that develop new technologies in the following fields:

Generating electricity from renewable and alternative sources Protecting the environment Energy efficiency

http://www.noventivc.com/aurora_biofuels.htm�

DisclaimerThis document and the information contained in it is strictly confidential and for the exclusive use of those to whom it is being presented for information and advertising purposes. The figures, information, assumptions, estimates and projections contained in this document cannot be used for other purposes nor can they, without the prior written consent of Sorgenia SpA, be given to any third parties, discussed or sent (except when requested to do so under current laws or regulations), nor can they be presented, read, or reproduced in any form whatsoever. This document does not constitute the proposal of a contract, an offer or a promise to the general public nor is it aimed in any way at finalizing any contractual relationship. The figures, information, assumptions, estimates and projections contained in this document are based on published figures relating to information available in the market and are in no way binding for Sorgenia SpA nor are they such that Sorgenia Spa may be considered bound or liable in any way towards its addressees, including any possible persons interested in starting negotiations with Sorgenia SpA.

Company Profile (English) - cirgroup.it · 14,500. 400,000. 500,000. 650 (*) Fonte: ... 13 Sorgenia...

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Transcript of Company Profile (English) - cirgroup.it · 14,500. 400,000. 500,000. 650 (*) Fonte: ... 13 Sorgenia...