1. Folie 1 Financing Concentrating Solar Power - Subsidy or Investment? Franz Trieb Stuttgart, 15.06.2010

2. Folie 2 A Strategy for CSP Finance

3. Folie 3 DLR 2009 Challenge 1: Investment replaces fuel consumption Fuel

4. Folie 4 www.oilnergy.com Challenge 2: Known immediate cost but unknown future savings

5. Folie 5 Challenge 3: Fix Cost but Non-Fix Revenue German power market during the first week-end of October 2009

6. Folie 6 Challenge 4: Initial Cost Levels above Market Price Ragwitz 2009

7. Folie 7 1.Long-term investment (20-40 years) not only for the power plants but also for their „fuels“. 2.Unknown future savings compared to volatile and unpredictable conventional fuel prices. 3.Known long-term cost but unknown long-term revenues if electricity output is fluctuating and sold at spot markets. 4.Additional cost of early plants cannot be recovered under conventional market conditions and less if competitors are subsidized.  Pioneers are punished by market forces because markets are adapted to conventional power schemes. Investment Challenges

8. Folie 8 Model Case Power Park:

9. Folie 9

10. Folie 10 Model Case Cost Structure

11. Folie 11 10008246 39000 95000 240000 417500 595000 772500 950000 CSP Required Tariff Model

12. Folie 12 B Break Even with Average Cost

13. Folie 13 B B1 B2 B3 Break Even with different load segments

14. Folie 14 Case 1: 100% Substitution in peak and medium load segment by CSP

15. Folie 15 a b c Case 1: 100% Substitution in peak and medium load segment by CSP

16. Folie 16 Calculation of Annual Solar Share in the Initial Phase

17. Folie 17 1st Step: The Load Curve is devided into Peak, Medium and Base Load

18. Folie 18 In higher time resolution it looks like this for a summer week

19. Folie 19 Solar Peak Load

20. Folie 20 2nd Step: The peak segment is separated and then, the lower part is covered by CSP (solar or hybrid), while the upper part (residual capacity) is covered by conventional peaking plants

21. Folie 21 In higher time resolution it looks like this for a summer week

22. Folie 22 3rd Step: Medium Load is separated and the lower part covered by CSP

23. Folie 23 In higher time resolution it looks like this for a summer week

24. Folie 24 4th Step: Base Load is separated and the lower part covered by CSP

25. Folie 25 In higher time resolution it looks like this for a summer week

26. Folie 26 Calculation of Annual Solar Share Summary

27. Folie 27

28. Folie 28 a b c Case 2: Partial Substitution of Fuel by CSP