Importance of materials for cImportance of materials for c...

Importance of materials for cImportance of materials for c--Si Si PV manufacturingPV manufacturingMarco Borgini – June 6th, 2013

Safe HarborSafe Harbor

With the exception of historical information, the matters disclosed in this presentationare forward-looking statements. Such statements involve certain risks anduncertainties that could cause actual results to differ materially from those in theforward-looking statements. Potential risks and uncertainties are described in theCompany’s filings with the Securities and Exchange Commission (SEC), including its2011 Form 10-K, and Q1 2012, Q2 2012 and Q3 2012 Form 10-Qs, in addition to therisks and uncertainties described on page 25 of this presentation. These forward-looking statements represent the Company’s judgment as of the date of thispresentation. The Company disclaims, however, any intent or obligation to update

P. 2 | SunEdison Confidential

presentation. The Company disclaims, however, any intent or obligation to updatethese forward-looking statements.

This presentation also includes non-GAAP financial measures. You can find areconciliation of each of these non-GAAP measures to the most directly comparableGAAP financial measure in our earnings press release filed on Form 8-K with the SECand posted in the Investor Relations portion of our web site at www.memc.com.

Company HighlightsCompany Highlights

MEMC/SunEdison is a Global Leader in Semiconductor Products and Solar Energy

� Formed in 1959

� Listed on NYSE (SUNE), Member of Fortune 1000

� 5,000+ employees in 25 global locations

� Manufacturing plants on 3 continents

≈990 MW of PV interconnected worldwide

KEY MILESTONES

1959 Monsanto Electronic Material

Company formed

1962 CZ silicon crystal process developed

1975 First commercial production of

100mm wafers

1995 MEMC I.P.O. on the NYSE

2003 SunEdison signs first solar PPA

(Power Purchase Agreement)

Semicon Russia PV Session | June 06th, 2013 P. 3 SUNEDISON CONFIDENTIAL

� ≈990 MW of PV interconnected worldwide

� 2.6 GW of projects pipeline

(Power Purchase Agreement)

2006 Announced entry into solar wafer

market on a large scale

2009 MEMC acquires leading solar project

developer SunEdison

2010 Acquired Solaicx and Continuous

Czochralski (CCZ) technology

2010 SunEdison builds largest PV plant in

Europe (70 MW)

2011 MEMC announces solar cell and

module partnerships

MEMCMEMC--SUNEDISON became SUNEDISON SUNEDISON became SUNEDISON


OutlineOutline

� SUNEDISON global presence and Geographic diversification

� From TCS/Polysilicon to Wafers

� Modules

� Solar Systems


� Solar Systems

� Q&A

Unique and diversified position in the value chains Unique and diversified position in the value chains


Why PolysiliconWhy Polysilicon

� Polysilicon is the nucleus of SunEdison’s three

Businesses

• Semiconductor Materials

• Solar Materials

• Solar Energy


Granular

Chunk

Polysilicon is the raw material used to manufacture

semiconductor and solar wafers. It comes in chunk or

granular form. MEMC manufactures both, and is the

world’s only volume producer of granular Polysilicon.

Ingot is Polysilicon after it has been melted, formed into a

crystal and cut. An ingot may be of a single crystal structure

(semiconductor or solar applications) or a multi-crystalline

MEMC Silicon ProductsMaterials and ProductsMaterials and Products


Ingot

Solar Wafer

Semiconductor

Wafer

(semiconductor or solar applications) or a multi-crystalline

structure (solar). It may also contain dopants.

Silicon Wafers are the foundation upon which

virtually all integrated circuits and solar cells are built.

Wafers are formed by slicing an ingot, and in the case

of semiconductor wafers, are built to very stringent

specifications, are polished and may involve

advanced treatment such as annealing, epitaxy or

layer transfer (Silicon-On-Insulator).

SunEdison Products and MarketSunEdison Products and Market

Semi LCD Mono PV Multi PV Ribbon PVThin Film

PV

Solar Cells/Modules

� �

Ingot/Wafers � � �

Silicon Parts �


Chunk Poly � � �

Granular Poly � � � �

Silane � � � � �

EG TCS �

SunEdison Gases Manufacturing Sites SunEdison Gases Manufacturing Sites


SunEdison Polysilicon Manufacturing Sites SunEdison Polysilicon Manufacturing Sites


SunEdison Ingots/Wafers Manufacturing Sites SunEdison Ingots/Wafers Manufacturing Sites


Migration to MonoMigration to Mono--crystallinecrystalline


Systems Economic view.Systems Economic view.


Supply Chain Quality Supply Chain Quality ––Operational ExcellenceOperational Excellence

� Class A test equipment utilized• Lowest uncertainty, tight test tolerance, and repeatability

� Utilizing ISO 14001 and 9001 standards with TS-style • TS16949 is quality standard for automotive and is more rigorous than ISO

� Management emphasis on high quality product• Quality dashboard being developed to provide information on yield, Income Quality Checks,

etc.

• Statistical control trend charts for key parameters on incoming materials

• Statistical control trend charts on key manufacturing stages


• Statistical control trend charts on key manufacturing stages

• Monthly audits by MEMC Quality Assurance

• Weekly audits by Flextronics

� QA Inspections• Above industry standard incoming sampling with AQL level II – 0.4

• 100% visual inspection at multiple points in manufacturing line

• 100% end of line inspection before lamination and after flash

• 100% visual inspection by Flextronics and MEMC

� Additional audits by Supply Quality Engineering

32 MEMC CONFIDENTIAL

Module Product RoadmapModule Product Roadmap

350W, 72 cellSolaicx™ CCzn-type mono

AC Module250W, 60 cell

Semicon Russia PV Session | June 06th, 2013 P. 18 SUNEDISON CONFIDENTIAL18

280W, 72 cell multi-waferModule ŋ : 14.3%

290W, 72 cell multi-waferModule ŋ : 14.8%

320W, 72 cellSolaicx™ monoModule ŋ : 16.5%

250W, 60 cell mono-waferModule ŋ : 14.6%

n-type monoModule ŋ : 19%

265W, 60 cellSolaicx™ monoModule ŋ : 16.1%

250W, 60 cellModule ŋ : 15.2%

•Differentiation

Reduced BOS costs, Reduced BOS costs, reduced $/w, DCPM, reduced $/w, DCPM,

micromicro--invertersinverters •Rapid

IE reports, multiple IE reports, multiple suppliers for key suppliers for key

components, industry components, industry

MEMC Module StrategyMEMC Module Strategy

Supply SunEdison Supply SunEdison demanddemand

Supply to EPC & Supply to EPC & Project DevelopersProject Developers

Create opportunities Create opportunities --ODMsODMs & Cell Partners& Cell Partners


•Differentiation

1000V UL, positive 1000V UL, positive power binning, linear power binning, linear

warranty, warranty, IP67 JIP67 J--Box, smart Box, smart

modulesmodules

•Continual Power Output Increases

micromicro--invertersinverters •Rapid Advantage of Market Trends

Tariffs, 1000V UL, local Tariffs, 1000V UL, local contentcontent

•Bankable Supplier

components, industry components, industry leading qualityleading quality

Value Chain IntegrationValue Chain Integration


Solid Interconnections Growth & Impressive PipelineSolid Interconnections Growth & Impressive Pipeline

990 MW of PV Interconnected 2.6GW of PV Pipeline**

110

283

430

200

400

600

Installed PV Volume (MW/year)

● Cumulative 675 solar power systems interconnected.

● SunEdison installed 430 MW in 2012.Pipeline by Geography

● SunEdison has 2.6 GW of pipeline and continues to work of ‘green-field’ development for new projects

USUS

48%48%EMEA & LAEMEA & LA

21%21%

Emerging Emerging MarketsMarkets

17%17%

CanadaCanada


0

2010 2011 2012

Pipeline by System Size

*Figures refer to projects in operation and under construction; **A solar project is classified as "pipeline" where SunEdison has a signed or awarded PPA or other energy off-take agreement or has achieved each of the following three items: site control, an identified interconnection point with an estimate of the interconnection costs, and an executed energy off-take agreement or the determination that there is a reasonable likelihood that an energy off-take agreement will be signed.

10 ≤ MW <5010 ≤ MW <50

33%33%

1 ≤ MW <101 ≤ MW <10

10%10%

MW≥100

26%

MW <1MW <19%9%

50 ≤ MW <100

22%

CanadaCanada

14%14%

Diversified Business SegmentsDiversified Business Segments

● Some ≈100 kW – 1 MW

● Commercial and

Industrial Rooftops

● Systems Integrators for

PV Rooftops owned by

building owners, funds

● PPA programs for

● Below ≈100 kW

● Residential and Small

Commercial

● Based on a Certified

Installers Program

● Premium customer

services: training,

Residential & Residential &

Small SystemsSmall Systems

Commercial Commercial

RooftopsRooftops

● Large scale ground-

mount projects

● Distributed generation

for Utilities

● Development,

engineering,

construction and O&M

services

Utility ScaleUtility Scale


●

different hosts:

commercial, industrial,

public sector

logistic, financing,

software, after-sales

services

● Construction and long-

term financing

● Premium guarantees

How Does it All Come TogetherHow Does it All Come Together

1. INITIATE: Project development & financing:

A) Pipeline development

B) Regulatory/Policy design

C) Project Financing

2. CREATE: Project design & construction:

A) Distinctive products: Modules, trackers, SEEDS, Inverters*


A) Distinctive products: Modules, trackers, SEEDS, Inverters*

B) Standard platforms for DG and Utility customers

C) Ecosystem of local construction partners: for each region

3. MANAGE: Asset Monitor & Management:

A) Regional operation centers to manage plants worldwide

B) Client billing tools — web based

C) Localized Support & Maintenance

MEMC Website: MEMC Website: www.memc.comwww.memc.com

www.memc.com

Solar Solutions


Solar Solutions

Solar Modules

www.memc.comwww.memc.com > Solar Solutions> Solar Solutions

Solar Module

Solar Wafer


MEMC Advantage

Manufacturing Process

Technical DocumentationTechnical Documentation


Contact UsContact Us


Thank you for your attention!

Q & AQ & A

Back UpBack Up

One of the Largest Solar Companies in the WorldOne of the Largest Solar Companies in the World

Top 15 Global PV System Integrators in 2011 (MW)


Source: IMS Research (PV Integrator Report, Q2-2012)

Very Strong Financial PositionVery Strong Financial Position

� Traded on NYSE since 1995

� Named a Fortune 1000 company in 2012

� Liquidity of 850 M$ (including 573 M$ in cash & cash-equivalents)*

6,000

Balance Sheet – Total Assets (in

M$)

3,000

Net Sales (in M$)


2,937

3,567

4,6124,882

4,702

0

1,000

2,000

3,000

4,000

5,000

2008 2009 2010 2011 2012*As reported in Q4-2012 resultsSource: MEMC 2011 Annual Report and Q4-2012 Earnings Call

2,005

1,164

2,239

2,7162,530

0

500

1,000

1,500

2,000

2,500

3,000

2008 2009 2010 2011 2012

Demonstrated Outstanding EPC CapabilitiesDemonstrated Outstanding EPC Capabilities

Performance

● SunEdison systems are operating at >100% of underwritten investment*

Construction Velocity

● 60 MW built in 5 months under Bulgarian winter

Supply Chain Power

Supply Chain Power

● Through volume agreements with majorPV industry partners


Cost-Attractiveness

● Market-competitive EPC services for PV plantsBankabilityBankability

● Extensive track record and bank reputation after 990 MW interconnected in 650+ plants

Strong Engineering

Strong Engineering

● Most efficient design by an industry-leading team

EPC ServicesEPC Services

*SunEdison O&M Services ensure PV assets will perform according to forecasted levels

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