ECOBUILD, 22nd March 2012 Johnnie Andringa, Gaia-Wind ‘Financing options for Small Wind Turbines’
• Introduction Gaia-Wind• Drivers for financials• Performance of small wind turbines• 20 year Cash Flow• Financing Options
– Ready Funds– No Funds– Some Funds
Content
Gaia Wind
11 kW Turbine, Optimized for Moderate winds
Great performance due to large rotor; 133sqm swept area up to 80% more energy capture
Key customers are farmers, country homes and rural businesses
350 turbines Installed in UK
100 turbines installed in Denmark; oldest 19 years!
Direct sales in Scotland, England & Wales; partnership with Myriad
Factory Based in Glasgow
*
• Reliability Evolution of original Danish concept HB Certificate in Denmark, MCS
Accreditation in UK, NREL Tested USA
Significant investment on R&D and innovation
Gaia-Wind Features: 133/11kW Turbine
• Two bladed, down wind, constant speed• Low noise: 40 dB(A) at 100 m, rural night time
background level; 20-40 dB(A), QUIET Turbine!
• Feed In Tariffs & Electricity price• Windspeeds; NOABL, Carbon Trust
& Site surveys• Planning & Grid Connection• Costs of a Turbine• Turbine availability, Service &
Maintenance• Energy generation of turbine
Drivers for Financials
Competitive AdvantageWe produce more energy at useful wind speed!
Wind speed distribution
1400
1200
1000
800
600
400
200
0
- 20
- 18
- 16
- 10
- 14
- 12
- 8
- 6
- 4
- 2
- 0
0 5 10 15 20| | | | |
Dis
trib
ution
, hr/
yr
Pow
er, k
W
Wind, m/s
frequent wind speeds
high power
best energy production
Turbine 15kWTurbine 5kW Turbine 20kW
Gaia wind 11kW
Live monitoring
• Live wind speeds and power
production
• Issue Alerts / Turbine status
• Energy production over time...
• Mobile access
•To see a turbine in your area;
contact Gaia-Wind
Key FinancialsFully installed costs; £55.000, excl VAT
Value of annual energy generation (28+7 p / kWh) x 30.000 kWh
= £ 10.500
Service and Maintenance; £1.250 per year
Simple Payback below 6 years,
Unleveraged R.O.I of 20% !!!
For a Detailed Financial Spreadsheet; contact Gaia-Wind
• Important to realise upfront what funding requirements are;
‘Where do you fit in funding scale?’
Financing options
Ready funds
Some funds
No funds
• If you have the funds available to invest; speed is important to lock in high FIT’s
• If you’re ‘quick off your feet’ might bring £50.000 extra revenues over 20 year lifetime
• Only for installations before FIT reduction per Oct 2012...
Ready Funds
• Look for developer to put in Turbines; Low-No risk!
• Gaia-Wind Partner is Vigor Renewables
• Several other parties doing similar• Look for at least 10-15% revenue
share!
No Funds
• No Easy Solutions!• Banks; too small, security needed or
transfer of full banking relationship• Vigor Renewables is introducing a
Hire Purchase solution;– No security, Assignment of FIT’s– Does not tie up other credit lines– 65% funded ,10yr, 7-10% interest
Some Funds
Thanks for your [email protected]
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