P RIVATE & C ONFIDENTIAL 0 AMP Solar Introduction EQ Cleantech Finance Summit 27 July 2016
P RIVATE & C ONFIDENTIAL 1 Outline AMP Solar Snapshot Growth and Evolution The AMP Solar Edge Process Driven Integrated Execution Platform Strategy of 6
P RIVATE & C ONFIDENTIAL 2 AMP Solar Group: A Snapshot AMP Solar Group is a global powerhouse in the development, financing, and management of superior quality large-scale solar asset portfolios (1) installed capacity reflects contracted work expected to COD in the next 18 months. 420MW Built, financed, or contracted 6,000 projects completed in North America, Europe, and the Middle East $1.1B Total capex financed globally 1,800MW+ Late-stage pipeline #1 distributed generation developer in Canada and one of the largest globally of 6
P RIVATE & C ONFIDENTIAL 3 Canada 2009 to present #1 solar DG developer 127MW successfully executed DG Top-tier utility scale developer $745M financed to date 9.3x MOIC Won Toronto School Board project in competition with 50 bidders- 66 MW Other flagship projects with IKEA, Canadian Tire, and Lowes Growth and International Evolution of AMP Solar Focused Growth: India 2015 to present On track for portfolio of +1GW by 2020 in India Highest growth in solar market globally Well-positioned to scale asset platform Present in India since early-2015 United Kingdom 2014 to present JV with $180B Apollo Group 150MW fully financed operating assets 300MW fully contracted and slated for commissioning in next three years $190M financed to-date AT UL DG Project IRR exceeding market by >100bps Other High Growth Markets Japan 500MW of development and shovel- ready backlog with large pipeline First 75MW to be in construction by Q316 United States Focused on Community Solar, Corporate PPA and small/medium sized utility scale Over 200MW backlog with large actionable pipeline AMP Solar is leveraging strong experience in distributed generation and utility scale solar projects in Canada and UK to focus on targeted growth areas in the India, US and Japan Growth and International Evolution of AMP Solar Group of 6
P RIVATE & C ONFIDENTIAL 4 REITS Residential SMEs MUSHFortune 500 Community Solar The AMP Edge: Our Proprietary Platform Distributed Generation: Market leading track record in C&I and residential segments Highly specialized team with broad international project development experience Dedicated in-house technical, finance, diligence/deal teams Proprietary EPC/O&M management platform supporting regional teams and local partners Ground-Mount Expertise: Proven track record developing utility scale projects on 3 countries Unique platform with experience in both ground mount utility scale + DG projects of 6
P RIVATE & C ONFIDENTIAL 5 Strategy: Create a Balanced and Diversified Project Portfolio Open Access (Private PPA) AMP Strategy: State-wise analysis of policy and investment climate for opportunities for open access through private PPA Development through Open Access or Group Captive model for commercial and industrial client Why Open Access? Take advantage of price arbitrage through long-term PPAs with an established solar developer Meet RPO requirements without expensive REC acquisition Programmatic Rooftop AMP Strategy: Our programmatic rooftop strategy aggregates rooftops of a single client into one medium size to large project Rooftops are segregated by age and type and developed in stages Why Rooftop Solar? Utilise net-metering policy to reduce cost of electricity on-site Boost corporate profile to include green initiatives Utility Scale Projects AMP Strategy: Utility scale projects through direct tender with NTPC, SECI, or state governments Utility scale development via acquisition of projects that have been awarded through tender but not yet developed Utility Scale Advantage Global team comes with significant M&A background India Team previously led one of the largest portfolio acquisitions in the country We have a three-pronged product offering for clients across India – Utility-scale projects, open access through private PPA, and programmatic rooftop projects Three pronged strategy creates values for all clients interested in leveraging solar as part of their power strategy of 6
P RIVATE & C ONFIDENTIAL 6 Pinaki Bhattacharyya CEO AMP Solar India of 6
P RIVATE & C ONFIDENTIAL 7 Toronto District School Board (TDSB) Case Study Project Description Toronto District School Board is one of the largest and most progressive School Boards in North America. The board was interested in utilising solar to promote environmental sustainability to students, teachers, and local communities while also earning a non-traditional long-term revenue stream to support its ongoing capital improvements. AMP Solar was chosen among numerous global competitors to develop the entire portfolio. AMP Solar provides all permitting, design & engineering, procurement & construction services as well as long-term financing. Case Study: Toronto District School Board TDSB – Project Detail Total Project Size66MW Total Invested CapitalC$450m (Rs. 2,365 crore) Number of Locations450 in Ontario, Canada Duration of Construction36 months Deal Structure/Business ModelDeveloper Owned, Lease of rooftops, FIT goes to project directly, Project owned by investors, AMP Solar RoleProject development, EPC Management, Monitoring & Operations Management Incentive Program/PolicyProvince FIT Program Major ChallengeSpecial safety/security requirements around school children Finance structuring to allow for needs of client Bid ProcessBid in multiple rounds of RFPs directly by School Board Won very competitive bid by listening closely to needs of the customer
P RIVATE & C ONFIDENTIAL 8 Toronto District School Board: Stakeholders TDSB Project TDSB Power Consumer: Pays Power Tariff to the project Power Feed-InDevelopment/CommissioningInvestment Utility Payments for solar power FIT Power supply as before 100% power generation AMP Solar Project Developer/Owner Modules/Racking/Inverters Candian Solar/Hanwha/Solardock/Polar/Adv anced Energy Roofing Subcontractor Lump sum for PV of 20yr lease payments Project CapEx & Management Equity Partner Long-term Investor