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Building a Sustainable Wind Energy IndustryBuilding a Sustainable Wind Energy IndustryBuilding a Sustainable Wind Energy IndustryBuilding a Sustainable Wind Energy IndustryAfricaAfricaAfricaAfrica’’’’s Natural Advantagess Natural Advantagess Natural Advantagess Natural Advantages
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Key Design Features of 1.5MW PMDD and Fleet Availability
Building a Sustainable Wind Energy Industry Building a Sustainable Wind Energy Industry Building a Sustainable Wind Energy Industry Building a Sustainable Wind Energy Industry ---- AfricaAfricaAfricaAfrica’’’’s Natural Advantagess Natural Advantagess Natural Advantagess Natural Advantages
From a manufacturer and wind farm investors’ perspective: covering key trends in Wind Power markets and technologies:
– What technologies and business models are best suited to Africa?
– Where are the investment dollars likely to go?
– What decisions will drive efficient use of capital, resources and ultimately return the most value to the community?
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About Goldwind
The first and most established wind turbine manufacturer in the Chinese market:
― Over 20 years history― Strong customer base, order book and production capability― International R&D― Impressive financial performance and backing― Bankable products, with certification testing and quality
control to international standards― Total installations of over 6000 6000 6000 6000 wind turbines and 7.0 GW*7.0 GW*7.0 GW*7.0 GW*
The Goldwind group Goldwind group Goldwind group Goldwind group of companies operates in a growing number of countries around the world in the areas of:
― Wind turbine manufacturingmanufacturingmanufacturingmanufacturing― Project development and financingfinancingfinancingfinancing― Wind farm constructionconstructionconstructionconstruction― Wind farm operation operation operation operation and maintenancemaintenancemaintenancemaintenance services
*As of August 1, 2010
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Market position - 2009
In 2009200920092009, Goldwind was the 5555thththth largest wind turbine supplier globally, gaining significant market share over our number 9 rank in 2008
Goldwind had approximately 21% of cumulative installations in China at the end of 2009.
Source: BTM Consult March 2010
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Market position – 2010 Update
For the first 6 Months of 2010 GoldwindGoldwindGoldwindGoldwind sold 5292MW5292MW5292MW5292MW**
Source: Bloomberg NEF 11 Oct 2011, Vestas website 11 Nov 2011** Beijing Gao Hua Securities (Goldman Sachs) Earnings Review, 17th August 2010
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World Wind Industry – Installed Capacity
Source: Bloomberg NEF 11 Oct 2010
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What Happened?
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Barriers to an African Wind Industry
Technical BarriersTechnical BarriersTechnical BarriersTechnical Barriers
— Adapting designs to suit the local conditions, approvals, connection and certification
— Technology, international trends moving away from DFIG
Establishing the right conditions for InvestmentEstablishing the right conditions for InvestmentEstablishing the right conditions for InvestmentEstablishing the right conditions for Investment
— Feed in tariffs
— Clear long term targets and policies
Financial barriersFinancial barriersFinancial barriersFinancial barriers
— Raising equity and debt
Encouraging competition/Small marketEncouraging competition/Small marketEncouraging competition/Small marketEncouraging competition/Small market
— Strong competition in the current wind turbine market
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New Market Barriers to Entry – Unique Demands
USAUSAUSAUSA— Varied conditions, ranging from high elevation conditions to desert. All
classes of WTG.— Only high yield turbines (high swept area to generator size) likely to be
used due to very difficult project economics
AustraliaAustraliaAustraliaAustralia— Varied conditions, ranging from coastal temperate conditions to desert.
Generally suited to IEC Class I or II (higher wind sites)— Banks very concerned with certification and may not tolerate generic
certification or change of components w/o re-certification— All about grid connection, sophisticated dynamic modelling needs to be
carried out due to typically “stringy” network
AfricaAfricaAfricaAfrica— Generally hot and dry conditions, unlikely to be large coastal wind farms
suited to IEC Class III certified turbines (lower wind sites)— Desert issues – sandstorms, dust— Typically weak grid conditions— Generally grid standards are only now being developed and may be more
flexible (but potentially time consuming) to get connection approvals
DDPM Technology – Forward Trend
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Direct Drive Permanent Magnet Generator
Full Power Converter (100% of full-rating)
Gearbox
DFIG
Double-Fed Induction Generator
Power Converter (30% of full-rating)
Gearbox DFIG – Incumbent Technology
TrendTrendTrendTrend Reason for ChangeReason for ChangeReason for ChangeReason for Change
Direct Direct Direct Direct DriveDriveDriveDrive
EliminateEliminateEliminateEliminate failure of gearboxesEliminateEliminateEliminateEliminate gearbox energy lossesReduceReduceReduceReduce number of parts required to less than half
Permanent Permanent Permanent Permanent Magnet Magnet Magnet Magnet GeneratorGeneratorGeneratorGenerator
BetterBetterBetterBetter fault ride through/zero power requirement to energizeEliminateEliminateEliminateEliminate secondary winding lossesEliminate Eliminate Eliminate Eliminate slip rings and associated maintenance
Full Power Full Power Full Power Full Power ConverterConverterConverterConverter
Grid Grid Grid Grid friendlyMore control More control More control More control and operational flexibilityMeet Future Meet Future Meet Future Meet Future Grid Codes and Requirements
New Market Barriers - Major trend moving away from DFIG
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CompanyCompanyCompanyCompany Production TurbinesProduction TurbinesProduction TurbinesProduction Turbines Technological Technological Technological Technological HistoryHistoryHistoryHistory
Indicated Future Indicated Future Indicated Future Indicated Future Turbine TechnologyTurbine TechnologyTurbine TechnologyTurbine Technology
Direct Drive
Permanent Magnet
Full Power Converter
VestasVestasVestasVestas ---- � YesYesYesYes � YesYesYesYes Gearbox DFIG Gearbox driven PM full power converter
GEGEGEGE ---- � YesYesYesYes � YesYesYesYes Gearbox DFIG DDPM
SinovelSinovelSinovelSinovel ---- ---- ---- Gearbox DFIG Gearbox DFIG
EnerconEnerconEnerconEnercon � YesYesYesYes ---- � YesYesYesYes Wound Rotor DD Wound Rotor DD
GoldwindGoldwindGoldwindGoldwind � YesYesYesYes � YesYesYesYes � YesYesYesYes 7 yrs of 1MW+ DDPM
DDPM
SiemensSiemensSiemensSiemens ---- � YesYesYesYes � YesYesYesYes Gearbox DFIG DDPM
SuzlonSuzlonSuzlonSuzlon ---- ---- ---- Gearbox DFIG Unknown
RepowerRepowerRepowerRepower ---- ---- ---- Gearbox DFIG Unknown
GamesaGamesaGamesaGamesa ---- � YesYesYesYes � YesYesYesYes Gearbox DFIG Unknown
Dong FangDong FangDong FangDong Fang ---- ---- ---- Gearbox DFIG DDPM
Global top 10 Current and Future Technology
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Goldwind, GE, Siemens and Vestas new machines all utilize permanent magnet technology and full power converters.
Goldwind, GE and Siemens have also announced to the market that their “next generation” of turbine will be Permanent Magnet Direct Drive (PMDD)
Siemens installed a 3MW, 101m rotor direct drive turbine prototype in July 2008 - expect these turbines to be available in 2011-2012
In the second half of 2009, GE acquired Scanwind and have advertised this “revolutionary” design as the future of wind in many press releases and publications including Popular Science, April 2010
Source: Popular Science, Renewable Energy World.com
New Market Barriers - Major trend, moving away from DFIG
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Local manufacturing and Physical Presence
Initial SeedInitial SeedInitial SeedInitial Seed; Construction and erection of pilot projects may be necessary in order to make a start in a new market
Local EmploymentLocal EmploymentLocal EmploymentLocal Employment; In many markets it is very important to use local staff to make local connections, need planning to attract appropriate local staff with sufficient experience
Regionalised O&MRegionalised O&MRegionalised O&MRegionalised O&M; Need to be able to respond to machine outages, development of after sales/O&M service teams capability is very important
Supply ChainsSupply ChainsSupply ChainsSupply Chains; Components may be local or imported, however, supply chains for all components including quality auditing need to be established
Critical MassCritical MassCritical MassCritical Mass; Building a sufficient fleet/reputation/presence in the industry is key to market entry, can be easier/faster to do this as part of a strategic alliance with a developer
Source: Vestas, Nacelle Assembly, Tasmania.
Cost/Risk Optimisation and Local Manufacturing
Additional Government SupportAdditional Government SupportAdditional Government SupportAdditional Government Support; Many markets offer government support for setting up local manufacturing or might assist the developer in getting their project approvals
Nacelle AssemblyNacelle AssemblyNacelle AssemblyNacelle Assembly; Can be cost effective for relatively low numbers of turbines. Good potential first step for local manufacturing
Tower ManufacturingTower ManufacturingTower ManufacturingTower Manufacturing; Towers are usually expensive to transport due to their size and manufacturing is relatively simple. Particularly interesting where there are good large local steel manufacturers near wind sites (South Africa). Also may help significantly in localisation of costs
Blade ManufacturingBlade ManufacturingBlade ManufacturingBlade Manufacturing; More difficult than towers to manufacture but similarly, savings are likely on transportation costs. Due to the relative costs of the blades (typ. 20-25% of turbines) can significantly help to localise currency which is desirable for developers
Acquisition /partnership with local manufacturing facilities/comAcquisition /partnership with local manufacturing facilities/comAcquisition /partnership with local manufacturing facilities/comAcquisition /partnership with local manufacturing facilities/companiespaniespaniespanies; Can be significantly cheaper than starting from scratch plus very helpful to acquire good local staff/supply chains/relationships. May be a far faster route to market than building new facilities
Transportation cost modellingTransportation cost modellingTransportation cost modellingTransportation cost modelling; Can be very complex and dependent on many factors including fuel price, availability of cargo space, FOREX, etc.
Local manufacturing will aid market penetrationLocal manufacturing will aid market penetrationLocal manufacturing will aid market penetrationLocal manufacturing will aid market penetration; In many countries some sort of local manufacturing will make a very big difference to market perceptions of the product and ultimately turbine sales 14
― Simple and compact structure and a lightweight design
― Multi-polar, low-speed
― High power to weight ratio
― No excitation losses
― No requirement for excitation slip rings and brushes
― External diameter of WTG is smaller than wound rotor designs
Goldwind Goldwind Goldwind Goldwind Permanent Magnet Permanent Magnet Permanent Magnet Permanent Magnet
GeneratorGeneratorGeneratorGenerator
Wound Rotor Wound Rotor Wound Rotor Wound Rotor ExcitationExcitationExcitationExcitationGeneratorGeneratorGeneratorGenerator
2. Stator
2. Stator1. Rotor
Generator Generator Generator Generator DiameterDiameterDiameterDiameter
5. Rotor Windings
3. Stator Windings
4. Permanent Magnet
3. Stator Windings
1. Rotor
Reduction in diameter due to Reduction in diameter due to Reduction in diameter due to Reduction in diameter due to PMPMPMPM
Africa Friendly Design – Smaller, Generators, Smaller Cranes and Lower Maintenance
The use of permanent magnets in the generator rotor removes the need
for excitation of rotor windings, slip rings, brushes and associated maintenance
Permanent magnets also allow for a smaller physical structure, removing weight and enabling easier transportation
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Variable Speed TechnologyVariable Speed TechnologyVariable Speed TechnologyVariable Speed Technology
― Passive diode rectifier: high efficiency, low EMI
― Very low harmonics to the grid
― Automatic adjustment to 50 Hz or 60 Hz
― Measured and certified low-voltage ride through
― Full reactive power control
― High reliability: air cooling, robust converter control
― Good serviceability: modular design with fast IGBT
exchange
“Low-tech converter” of highly integrated IGBT modules
― Integrated current sensor
― Integrated temperature sensor
― Integrated heat sink
― Integrated driving circuit & protection
Africa Friendly Design – Weak Grid Capable Connectivity
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The blade pitch system in the 1.5MW direct drive hub is designed to be largely maintenance free
The following design changes have been made in comparison to common pitch systems where frequent maintenance is required:
― Toothed belts are used in place of spur gears
― AC pitch drives are employed instead of DC motors
― Ultra Capacitors are used in place of lead acid or gel cell batteries for the emergency stop/over speed safety system
Africa Friendly Design – Near Zero Maintenance Hubs
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African Wind Projects - Raising Equity and Debt
Non recourseNon recourseNon recourseNon recourse; Stand alone, non-recourse project financing often preferred/necessary for wind farms
GearingGearingGearingGearing; Banks typically willing to loan up to 70% or 80% (vary depending on bank and market). In the US currently this is more likely to be 50%
Debt CoverageDebt CoverageDebt CoverageDebt Coverage; Restrictions on minimum DSCR (vary depending on bank and market)
WTG Sales TermsWTG Sales TermsWTG Sales TermsWTG Sales Terms; Turbine supply terms/structures:
1. Minimum warrantee period 5 years or longer now in most markets
2. 97% Availability industry standard plus at least 95% power curve
3. Need adequate securities
4. EPC type arrangement favoured by banks but generally structure is very important
HistoryHistoryHistoryHistory; Turbine history/success/certification/production volume very important together with developer history/success and financial position of WTG supplier
AvailabilityAvailabilityAvailabilityAvailability; In most markets banks are still eager to lend to the right developers, but cost of debt has risen through the financial crisis and banks are increasingly looking at technical/commercial details
Local RequirementsLocal RequirementsLocal RequirementsLocal Requirements; Local currencies and country risk/exposure
International Offices and Operating Turbines
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Canada8 WTG
USA6 WTG
-Chicago Office-Manufacturing to
be announced
Brazil57 WTG
Germany15 WTG
-Nuenkirchen Office- 2 Manufacturing
Plants
Spain & Portugal8 WTG
India50 WTG
China3,000 WTG
8 Manufacturing PlantsNumerous Offices
Poland3 WTG
Bulgaria3 WTG
Russia2 WTG
Pakistan5 WTG
Approximately 3000 PMDD Wind Turbines Globally (4.6GW)Offices in South Africa, China, Australia, Germany and USA
Australia- Sydney Office- Melbourne Office
South Africa-Capetown
Office
Uilk Wind Farm Minnesota, USA 3 x Goldwind 77m Rotor 1.5MW
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Regionalised O&M, RENEW Energy Maintenance, USA
RENEW Energy Maintenance LLC, a Midwest-based wind turbine service company, has entered into a multiyear strategic relationship with Goldwind USA Inc. RENEW Energy Maintenance will provide operations and maintenance services to Goldwind USA and for projects owned by Goldwind's affiliates.
"We are impressed with Goldwind's turbine technology, including their utilization of direct-drive power transmission, and are excited about the opportunity to grow with Goldwind's expanding North American presence,"
“The partnership could create 25 to 35 U.S. local operations and maintenance jobs over the next few years, with the potential for more job growth”
Source; P. Mikel, president of RENEW Energy Maintenance, www.nawindpower.com
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1.5MW Rotor Lifting (Germany)
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VENSYS Production Facilities (Germany)
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German/Chinese Collaboration - 2.5 MW PMDD Turbine
First prototype 2.5MW was installed at year end 2009, 5 units currently operating in China, 1 in northern Germany
Goldwind is currently ramping up serial production, with 40 units to be installed in 2010
Domestic and International certification is now in progress and will be completed later early 2011
Availability for international markets including Europe, USA, Australia , Asia (ex. China) and Africa to be announced
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German-Chinese Collaboration - Near Shore and Offshore
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1.5MW Direct Drive Erection (Germany)
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Goldwind Production Facilities (China)
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For wind manufacturers to truly succeed in markets such as Africa they must continue to develop a localised supply chains in each market (particularly blades and towers).
It is important to draw on the best practices, expertise, and technology from numerous countries, especially Germany, Denmark, China and U.S.
In the case of Goldwind, our strategy relies on globalization through localization. Our success in bringing innovative technology to global markets depends on utilizing local manufacturing, management, and suppliers that create local jobs.
Our number one goal is to continue producing clean, cost-efficient renewable energy. We look forward to working with the international community to support the further development of wind power globally
Summary
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Questions ?
Garth HeronGarth HeronGarth HeronGarth Heron
Director of Business DevelopmentDirector of Business DevelopmentDirector of Business DevelopmentDirector of Business DevelopmentGoldwind InternationalGoldwind InternationalGoldwind InternationalGoldwind International
Goldwind Science & Techonology Co.,LtdAdd: Floor 20, Tower A, Gemdale Plaza, 91
Jianguo Road, Chaoyang District, Beijing 100022
E-Mail: garthheron@goldwind.cn