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Fondsfinans 4th Nordic Renewable Energy Conference
Fondsfinans 4th Nordic Renewable Energy Conference was hosted on the 19th of May. We would like to thank all speakers and conference delegates for contributing to a successful event. The presentations from the conference are available for download below.
Welcome back next year!
For more information or questions regarding the conference please contact:
Fondsfinans Renewable Energy Outlook 2010
Presentation: Click here to download
Acciona
Originally a Spanish construction company, Acciona has transformed into a global leader in the development, production and management of renewable energies, water and infrastructures. In 2008, the company manufactured more than 1,000 MW of its 1.5 MW flagship wind turbine (~3% global market share). In addition, the company is one of the largest owners and developers of wind farm assets with 6,230 MW of installed and commissioned capacity across the world. The company has more than 35,000 employees and is present in more than 30 countries.
Market cap and ticker: EUR 5 344 mill (ANA SM)
Web: www.acciona.com
Arise Windpower
Arise Windpower aims to develop, own and operate wind parks in Sweden. The company has three parks in operation with an installed capacity of 46, 5 MW and another 31 MW under construction. A total of SEK 550m in new equity was raised in the IPO process completed in late-March 2010. The company targets a portfolio of appr. 900 MW of wind turbines in operations by the end of 2014 and has secured frame agreements with Vestas and GE. Major owners include founders, Third Swedish National Pension fund, Statkraft and Nordea.
Market cap and ticker: EUR 173 mill (AWP SS)
Web: www.arisewindpower.se
Presentation: Click here to download
Elkem Solar
Elkem is one of the world’s leading companies for environment-friendly production of metals and materials. Its main products are silicon, solar grade silicon, special alloys for the foundry industry, microsilica, carbon and energy. Elkem is making a big commitment to the solar power industry. Operating revenues in 2009 are NOK 7.4 billion. Elkem has approx 2,500 employees.
Market cap and ticker: Not listed. 100% owned by Orkla (ORK NO)
Web: www.elkem.no
Presentation: Click here to download
Enercon
Presentation: Click here to download
Eolus Vind
Established in 1990, Eolus Vind is one of the leading Swedish developers, whose main business is to sell turn-key wind farms. Until today Eolus has established more than 230 turbines. The company also owns 31 MW of wind turbines with an annual production of 73 GWh. Eolus Vind expects to establish about 200 turbines over the coming 3 years and to increase the own capacity with 40 MW until 2011. On August 31st 2009 the project portfolio consisted of almost 3 000 MW of potential projects, including 279 MW with secured permits or under construction.
Market cap and ticker: EUR 92 mill (EOLUB SS)
Web: www.eolusvind.com
Presentation: Click here to download
GE
GE Energy, a subsidiary of General Electric, is a world major within electricity production and renewable energy. The company’s activities comprise of wind, solar, biofuels, nuclear and clean coal. GE Energy is world’s second largest wind turbine manufacturer with a 2009 global market share of 13% and has recently announced plans to expand into the offshore wind market with the acquisition of Norwegian-based ScanWind. GE Energy has ~36,000 employees operating in more than 100 countries.
Market cap and ticker: EUR 148 bn (GE US)
Web: http://www.gepower.com/businesses/ge_wind_energy/en/index.htm
Presentation: Click here to download
glo
Founded in 2005, glō AB is a venture-backed, development-stage company focused on development and commercialisation of entirely new, highly energy efficient and very low cost nanowire light-emitting diodes (nLED). GLO’s unique technology is patented or patent-pending, based on 11 years of research of nanowires. GLO is close to obtaining an efficiency level that makes it suitable for commercialization, and the company is positioned to enable the realization of the expected LED revolution by radically lowering lighting costs for end-users. Main owners are Technoinvest, Provider Venture Fund, founders and Management.
Market cap and ticker: Not listed.
Web: www.glo.se
Presentation: Click here to download
Greentech Energy Systems
Greentech is an energy company developing, constructing and operating wind energy projects. Based in Denmark, the company has operations in Denmark, Germany, Italy, Norway and Poland. The company currently owns fully, or is a majority partner, wind assets with an installed production capacity of 75 MW. The company has another 171 MW under construction and 872 MW in the development portfolio.
Market cap and ticker: EUR 117 mill (GES DC)
Web: www.greentech.dk
Hafslund
Hafslund ASA is a Norwegian company listed on Oslo Børs and the only listed utility company in Norway. Hafslund’s market capitalization was NOK 13.4 billion at the close of the first quarter of 2010. Capital employed was NOK 25.3 billion as of 31 March 2010. The Group's development in recent years has featured a clearer focus on renewable energy and critical infrastructure development, along with greater power sales. Going forward, a closer alignment with this strategy is expected.
Market cap and ticker: EUR 1,660 mill (HNA NO and HNB NO)
Web: www.hafslund.no
Presentation: Click here to download
Innotech Solar
Innotech Solar (ITS) buys cells with low efficiency from a wide ranch of large, international solar cell manufactures. ITS’ business concept is to boost these cells in order extract more energy from them. ITS' main product is competitive solar modules, a fundamental component in solar power plants. ITS is also engaged in construction and operation of solar power plants. The production line in Narvik is expected to reach a volume of 27 MW in 2010 and further expansions are already in process.
Market cap and ticker: Not listed.
Web: www.innotechsolar.com
Presentation: Click here to download
Markedskraft
Markedskraft is an independent service provider who provides fundamental market analysis, advisory services, risk management, financial portfolio management and physical handling and settlement to players in the Nordic and European wholesale market for electricity. In addition, the company offers capital management within power derivatives for investors. Markedskraft operates as a neutral accommodator between clients and the market, and do not take proprietary trading positions. Markedskraft was established in 1992 and has offices in Norway, Sweden, Denmark and Germany and employs about 90 persons. Arendals Fossekompani owns 61% while the remaining shares are held by employees.
Market cap and ticker: Not listed.
Web: www.markedskraft.no
Presentation: Click here to download
NordEnergie Renewables
NordEnergie Renewables is a Danish based renewable energy company founded in early 2008. The company's strategy is to acquire turn-key wind projects or wind assets in operations backed by feed-in tariffs or purchase power agreements (PPAs). Focus market includes Germany, Sweden and France. Wind assets in operations exceed 139 MW per 1Q 2009 with majority of assets located in Germany. The company aims to acquire an additional 150 MW by the end of 2011. Operations and maintenance is outsourced to equipment suppliers or service suppliers for all plants.
Market cap and ticker: Not listed.
Web: www.nordenergierenewables.com
Presentation: Click here to download
Nordisk Vindkraft
Nordisk Vindkraft develops, owns and operates wind parks in the Nordic region. The company has about 100 MW in operations or late stages of construction and a development pipeline of about 700 MW. Nordisk Vindkraft is a subsidiary of Renewable Energy Systems. RES develop, own and operate wind farms worldwide. The company has constructed more than 4.5 GW of projects and own 550 MW of wind assets.
Market cap and ticker: Not listed.
Web: www.nordiskvindkraft.se
Presentation: Click here to download
Norges Bank Investment Management (NBIM)
Norges Bank Investment Management (NBIM) is a separate part of the Norwegian central bank (Norges Bank) and is responsible for investing the international assets of the Norwegian Government Pension Fund. NBIM aims to promote environmental issues and highlight the importance of the consequences of climate change. NBIM therefore works to raise corporate and investor awareness of environmental factors that may affect companies’ long-term earnings and profitability.
Market cap and ticker: EUR 330 bn of assets under management
Web: www.nbim.no
Presentation: Click here to download
Norsk Vind Energi
Norsk Vind Energi AS is a privately owned independent developer and energy producer of wind power. The company was founded in 1996 and is located in Stavanger. At present, their most known project is Høg-Jæren wind farm (73.6 MW) where construction started in April this year. Norsk Vind Energi has developed the Høg-Jæren project and now sits with a minority share. In addition, Norsk Vind Energi has 9 other projects with a total capacity of 550 MW under development. One of these projects, Skinansfjellet wind farm (90 MW) received concession in December 2009.
Market cap and ticker: Not listed.
Web: www.vindpark.no
Presentation: Click here to download
NorSun
Norway-based NorSun aims to be a leading producer of mono crystalline wafers for use in high efficiency solar cells. Since inception in 2006, the company has developed supply relationships with the world’s leading high performance cell manufacturers, including SunPower and Sanyo, as well as established production in Finland and Norway with an aggregate ingot and wafer capacity of 230MW by the end of 2009. NorSun is also contemplating to start polysilicon production in Saudi Arabia and expand its wafer operations to Singapore. NorSun is a privately held company owned by Good Energies, Scatec, Norsk Hydro, Odin, employees and institutional investors.
Market cap and ticker: Not listed.
Web: www.norsuncorp.no
Presentation: Click here to download
Norwegian Wind Energy Association (NORWEA)
NORWEA was established in 2006 with the aim to facilitate development of Norway's wind energy resources. The organization contributes to formulation of policy for the Norwegian wind market and regularly meet with both national and international stakeholders. The lobbying activities undertaken by NORWEA help create a suitable legal framework within which members can successfully develop their businesses. NORWEA currently has 110 members and is member of the European Wind Energy Association (EWEA).
Market cap and ticker: n.a.
Web: www.norwea.no
Presentation: Click here to download
NorWind
NorWind was established in 2007 by renewable energy incubator Scatec and maritime services provider the Grieg Group. It is 100 percent focused on offshore wind energy. They offer a one-stop shop for design, fabrication and installation of fixed offshore foundations, as well as installation of turbines. NorWind builds and installs wind farms in water depths down to 60 metres. NorWind is also involved in technology development to make floating wind turbines a reality. The company is owned by Scatec (60%) and the Grieg Group (40%).
Market cap and ticker: Not listed.
Web: www.norwind.no
Presentation: Click here to download
Novozymes
Novozymes is the world leader in bioinnovation. Together with customers across a broad array of industries, we create tomorrow’s industrial biosolutions, improving our customers' business and the use of our planet's resources. With over 700 products used in 130 countries, Novozymes’ bioinnovations improve industrial performance and safeguard the world’s resources by offering superior and sustainable solutions for tomorrow’s ever-changing marketplace. Novozymes’ natural solutions enhance and promote everything from removing trans-fats in food, to advancing biofuels to power the world tomorrow.
Market cap and ticker: EUR 5,320 mill (NZYMB DC)
Web: www.novozymes.com
Presentation: Click here to download
O2
O2 has developed, operated and owned wind farms in Sweden since 1991. The company has 74 MW of wind assets in operations and another 18 MW under construction. Over the years, O2 has developed a total of 20% (307 MW) of all Swedish wind parks. The current project pipeline comprises of 2,000 MW of potential projects, of which 174 MW have secured permits, and targets to build 1,000 MW of wind parks by the end of 2015.
Market cap and ticker: Not listed.
Web: www.O2.se
Presentation: Click here to download
Rabbalshede Kraft
Rabbalshede Kraft is a rapidly growing player in the wind power sector, with two wind farms in operation, two under construction and about 380 turbines in the permit, application and development phase. The aim is to place 250 turbines in operation by 2015, corresponding to a production capacity of about 1.5 TWh per year. To secure the long-term need for capital that the planned expansion requires, the company is preparing to apply for listing on the NASDAQ OMX Stockholm Exchange.
Market cap and ticker: Preparing for listing.
Web: www.rabbalshedekraft.no
Presentation: Click here to download
REC
REC is positioned as one of the most integrated companies in the solar energy industry. REC Silicon and REC Wafer are one of the world's largest producers of polysilicon and wafers for solar applications. REC Solar produces solar cells and solar modules and engages in project development activities in selected segments of the PV market. The company is more than doubling its existing polysilicon capacity in the US by expanding on new manufacturing technology (FBR). In addition, REC is currently completing an integrated manufacturing facility for wafers, cells and modules in Singapore, more than doubling the current production capacity. Orkla holds a 40% stake in REC.
Market cap and ticker: EUR 2,172 mill (REC NO)
Web: www.recgroup.com
Presentation: Click here to download
REpower Systems AG
REpower, founded in 2001 and listed on the German stock exchange one year later, focuses on the development, production, installation and serivce of multi-megawatt wind turbines. The company's product range comprise of several types of turbines with rated outputs of between 1.5 and 6.15 megawatts. REpower provides a wide range of wind energy services, from product development, licensing, production, sales to after-sales service. REpower's 5MW and 6MW turbines are currently the largest in the world. Construction of the REpower 5M prototype, which is destined primarily for offshore wind farms, was already completed in autumn 2004 and first erected in August 2006 as part of an offshore wind farm project in the UK. The first three test and reference turbines of the upgraded REpower 6M have been installed onshore in spring 2009. The REpower 6M turbine is also designed for installation on the open sea in deep water (30-40 meters). REpower has a global market share of about 3.5% and is owned 90% by India-based Suzlon Group.
Market cap and ticker: EUR 1,206 mill (RPW GR)
Web: www.repowersystems.de
Presentation: Click here to download
SAE Vind
Statkraft Agder Energi Vind (SAE Vind) was founded in August 2008 by Statkraft (62%) and Agder Energi (38%). The company focuses exclusively on onshore wind in Norway by developing, operating and owning wind farms. SAE Vind has a 2,500 MW project pipeline, which includes a 150 MW project with concession. By 2020, SAE Vind targets to reach an installed capacity of 1,500 MW with yearly energy production of 4 TWh.
Market cap and ticker: Not listed.
Scatec Solar
Scatec Solar was established in 2007 to develop, build and operate solar plants worldwide for commercial and public electricity consumers. Scatec Solar do not rely on one single, proprietary technology or solution. They are thus free to evaluate and offer the most appropriate and cost efficient technology solution for each individual project. Scatec Solar is carrying out a pilot project with Community Solar Power Plants (CSPPs) in rural India. The purpose is to test organisational, financial and technical aspects of a CSPP and to develop a viable and attractive business model for rural electrification worldwide. The owners of Scatec Solar are Scatec AS (62.5%) and Itochu (37.5%).
Market cap and ticker: Not listed.
Siemens
Wind power is part of Siemens' environmental portfolio. In 2009, revenue from products and solutions of Siemens’ environmental portfolio was EUR23 billion (33% of total revenues), making Siemens the largest provider of environmentally friendly technology. Siemens had a 6.5% global market share in 2009 and is the clear market leader in offshore wind turbines.
Market cap and ticker: EUR 67 bn (SIE GR)
Web: www.siemens.com/energy
SN Power
SN Power is a Norwegian-based company that aims to become a leading hydropower player in emerging markets. The company invests in, develops and operates hydropower projects in Latin America and Asia, which are the firm’s core markets. The firm is also expanding operations into Africa. Operating capacity is 807 MW. SN Power currently has 14 operating hydropower plants in its portfolio and eight more, equivalent to investments of NOK 4 billion, in various stages of planning and development. The new plants are planned in India, Chile and Peru. The company has two owners; Statkraft (60%) and Norfund (40%).
Market cap and ticker: Not listed.
Web: www.snpower.no
Presentation: Click here to download
Statkraft
Norwegian based Statkraft is Europe’s largest generator of renewable energy. The European production takes place at 225 hydropower plants, 3 wind farms, 5 gas power plants and 13 district heating plants in Norway, Sweden, Finland, Germany and the UK. With an installed capacity of about 15 000MW the company produced 56.9 TWh in 2009, equivalent to 35% and 12% of the Norwegian and the Nordic power generation respectively in 2008. One of the company’s most important objectives is to develop a further 16–17 TWh of environmental-friendly electricity production in Europe by 2015. In January 2009, Statkraft acquired majority in SN Power to increase its focus on hydropower development outside Europe. The company also has an interest in the UK projects Sheringham Shoal and Doggerbank. Statkraft is entirely owned by the Norwegian state.
Market cap and ticker: Not listed.
Web: www.statkraft.no
Presentation: Click here to download
Statoil
Statoil is an integrated technology-based international energy company primarily focused on upstream oil and gas operations. Statoil’s New Energy business unit is responsible for the company’s effort within renewable power production, sustainable fuel production, CO2 management and technology management. The company works with projects within wind, CCS, geothermal, biofuels, hydrogen, solar, wave and tidal energy. Statoil are engaged in some major wind development projects at Sheringham Shoal (315 MW) and holds an interest in the 9-13 GW offshore project at Doggerbank. The company also develops a unique floating offshore wind turbine concept, Hywind. The Norwegian state owns 66.4% of Statoil.
Market cap and ticker: EUR 54 bn (STL NO)
Web: www.statoil.com
Presentation: Click here to download
Think
Think has been designing and building full battery electric vehicles (EVs) since the early 1990s. The latest generation “Think City” is the first electric vehicle to be granted pan European approval. It reaches maximum speed of 110 km/t and can drive up to 160 km on a single charge from a regular household socket. The “Think City” is produced at the Valmet Automotive’s manufacturing base in Finland. Think is also a leader in electric drive-system technology and has announced plans to supply EV drive-train systems to consortiums in Japan. Think has recently completed a USD 40m equity increase to support product development and expansion into North American markets. Think will start selling “Think City” in the US this year, with local production from 2011.
Market cap and ticker: Not listed.
Web: www.think.no
Presentation: Click here to download
VestasVestas is a global market leader in wind turbine design and production. In 2009 the global market share was 13%. Headquartered in Denmark, Vestas has production and assembly in all major markets and can refer to an installed base of ~40,000 MW in 65 countries (25% of global installed capacity). Vestas has in-house production of all the major components in the wind turbines except for gearboxes. In addition to manufacturing of wind turbines, Vestas offers wind park project planning, onshore and offshore installation, service, monitoring and control functions for the wind power plants. Vestas targets Triple15; meaning EBIT margin of 15%, revenue of EUR 15 bn. no later than 2015. For 2010 the EBIT margin target is 10-11%. Vestas has a well diversified shareholder structure with about 1/3 Danish investors and 2/3 foreign investors.
Market cap and ticker: EUR 8,310 (VWS DC)
Zephyr
Zephyr aims to develop, own and operate wind parks in Norway. The company operates a 23 MW wind park for Kvalheim Kraft and has a development pipeline 840 MW. Zephyr is owned by energy producers Vardar, EB Kraftproduksjon, Østfold Energi and the Danish energy company DONG.
Market cap and ticker: Not listed.
Web: www.zephyr.no
Presentation: Click here to download
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