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L’EOLICO: LA RINNOVABILE EFFICIENTE, PULITA E DISPONIBILE
Rome, 15th of June, 2011
Market and Geography
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Evolution of installed capacity in the word
Source: GWEC. Global Wind Report 2010
Wide geographical distribution derived from the maturity of the industry, increased support schemes and the globality of the wind resource
194 GW
Market and Geography
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Evolution of installed capacity in the word
Source: GWEC. Global Wind Report 2010
Annual forecast by Region 2010-2015
Success key: Improve the security of supply in the face of rapidity growing demand Relieve the national budget of the burden of expensive fossil fuel imports at volatile price Environmental factors : air quality, public health and carbon reduction commitment
Just a few years ago wind energy was considered a premium technology only for rich countries because too expensive.In 2010 more new wind power capacity was installed in developing countries and emerging economies than in the traditional wind market in the OECD.In the future wind generation will play an important role in the country's power mix
Market and Geography
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Price reduction trend
Also thanks to the increase of wind energy installed capacity
cost of turbines has decreased during last three years...
75%
Source: EWEA 2009
...and additionally, the Capex/MWh will be improved by more efficient turbines
In Europe
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Renewables Energy Policy
Source: EWEA 2011
Since 1997, the European Union has had a successful renewable energy policy which has enabled significant progress to be made towards the EU’s objectives of reducing greenhouse gas emissions, ensuring security of supply and improving EU competitiveness.
Net electricity generating installations in EU 2000 – 2010 (MW)
Wind
38%
76 GW
In Europe
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Renewables Energy Policy
Source: EWEA 2011
Due to the early adoption of ambitious national and EU targets,European companies are world leaders in wind power technology,Europe today gets approximately 20% of its electricity from renewable energy sources, including 5.3% from wind energy.
In 2020, according to the Renewable Energy Directive’s 27 National Renewable Energy Action Plans, 34% of the EU’s total electricity consumption will come from renewable energy sources, including 14% from wind energy (41% of Renewables)
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IBERDROLA
•IBERDROLA IN THE WORLD
•IBERDROLA RENOVABLES
INDEX
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IBERDROLA
GASNUCLEARCCGT
HYDRO
WIND SUN ENGINEERING DISTRIBUTION
MERCHANDISINGPRODUCTION
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IBERDROLA IN THE WORD
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IBERDROLA IN THE WORLD
MW Installed: 44.991 MW
Employers: 29.641
Clients: 24,5 (mill)
MAIN DATA 2010
Distributed Energy : 203.090 GWh
Electrical Cable (transport): 31.484 Km
Electrical cable (distribution): 798.221 Km
Energy production: 154.073 GWh
IBEDROLA is the sixth Utility in the World for capitalization in the Stock Exchange
Gas Supply: 157.420 GWh
For the consecutive eleventh year IBERDROLA has been selected in the the Dow Jones Sustainability indexes
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• CCGT 13.128 MW• Nuclear 3.344 MW• Renewable 12.532 MW• Hydro 9.892 MW• Coal 4.709 MW• Cogeneration 1.229 MW
27,85% of Iberdrola installed power
IBERDROLA INSTALLED POWER (MW)
IBERDROLA IN THE WORLD
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IBERDROLA
•IBERDROLA IN SPAGNA & NEL MONDO
•IBERDROLA RENOVABLES
ARGOMENTI
Iberdrola
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Bet on wind power
Iberdrola
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Bet on wind power
PipelineAt the end of 2010, IBERDROLA RENOVABLES has a project portfolio of 62,613 MW. In terms of technology types: 97.3% correspond to wind power energy and 2.7% to other renewable energies.
After adding 1,540 MW in the last 12 months, the Iberdrola now has an installed capacity of 12,834 MW, strengthening its position as world leader in the Renewables sector
Wind energy forms the core of IBERDROLA RENOVABLES’ business accounting for 97.1% of output
Italy2020 NREAPs
Renewables’ share of electricity consumption per Member State (%) in 2020 according to the NREAPs
Wind energy share of electricity consumption in
Italy
from 3,4% in 2010 to
5,3% in 2020Vs
14% of European average
NREAP 202012 GW
ANEV 2020 estimation16 GW
Wind energy average investments until 2020
Tecno 1: Feasible potential of RES according to Position Paper Italian Government (September 2007 estimation).
2,300 M€/year
Tecno 2: Feasible potential of RES according to IEA and UE Commission.
3,200 M€/year
Sources:
Other scenarios BAU (Business as usual): Current market trend.Vinco 1: Required potential of RES according to Italy´s UE obligations 17% in 2020 (September 2007 estimation)Vinco 2: Same as Vinco 1 but considering energy efficiency measures.
ItaliaWind potential
“Oil and other hydrocarbons are a limited resource, and our own internal reserves are dwindling. Today we import around 50% of our energy. By 2030 that will be nearer 70%, if we continue with current policies. At the same time, with the rise of new economic giants like China and India, global demand for these hydrocarbons is increasing (...)
With its emphasis on renewable energy and a transformation to a low carbon economy, this revolution will help us to strike a major blow in the fight against climate change. At the same time, it will improve Europe’s energy security, and decrease geopolitical tensions.”
José Manuel Barroso
“Europe’s energy policy and the third industrial revolution”; Madrid 1 October 2007.2050”. Statement May 2010.
More than 243 billion US$ invested in clean technologies in 2010
Investment in Clean Energy
Source: BNEF (Data includes investment in renewable energy, biofuels, energy efficiency, smart grid, CCS and investments in infrastructure exclusively for the integration of 'clean energy‘)
96 billion US$ in WIND, 40% of total investments
ItaliaWind potential
Wind keys:
Stable generation costs. Investment costs more long-term competitive
Jobs in rural areas contributing to its economic and social development
Represents an opportunity to develop a new domestic industry with high added value
CORE Toledo
Valerio Faccenda
IBERDROLA RENOVABLES ITALIA S.p.A. Via dei Gracchi, 151 00192 Roma
Telephone: +39 06 323 4167Email: vfaccenda@iberdrola.com
Thanks
RegulatoryRegulatory
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Renewable Regulatory decree n 28 of 3th March 2011
European Renewable Energy Directive (2009/28/EC): the National Renewable Energy Action Plan states a target for Wind Energy of 12.000 MW within the next 9 years. Until now in Italy it is installed about 6.000 MW.
The Legislative Decree n. 28 (published on 28th March 2011) introduces the principles for the new Italian incentives scheme for the Renewables in order to achieve Italian obligations.
Linked to the Decree n.28, some Implementing Decrees will enter into force within the 30th of September and they will define all the details of the new incentive scheme (prices, mechanisms)
In order to ensure the profitability of the investments already made , the Decree n.28 establishes particular conditions for the Renewable plants entering in operation BEFORE 1th of January 2013
RegulatoryRegulatory
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The GSE delivers the GCs on a monthly basis (until now was on a yearly basis)
Obligation for the GSE to buy the exceeded GCs 2011 – 2015
GCs price will be fixed until 2015 = 78% of Reference Price (180 €/MWh – POOL)
From the 2016 a FIT (Feed – In Tariff) will be assigned : fixed during the residual period of incentive.
The FIT value will be established by the Implementing Decrees within 30th of September, but reasonably it shouldn't be so different from the GCs value in 2015 (the principle is to warrant the profitability of the existing investments)
Renewable plants in operation BEFORE the 1st of January 2013
Renewable Regulatory decree n 28 of 3th March 2011 (Published on 28th March 2011)
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 …
GREEN CERTIFICATES FITFEED IN TARIFF
RegulatoryRegulatory
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* CAPACITY THRESHOLD (CT): An Implementing Decree will define a Capacity Threshold (this value will
depend on energy source, in any case will not be lower than 5 MW – for wind it is estimated at least 20-30MW): For WF smaller than CT a FIT will be assigned DIRECTLY; For WF bigger than CT a FIT will be assigned by an AUCTION managed by GSE
CATEGORIES CAPACITY. The FIT value directly assigned will depend on the size: higher for WF with lower capacity.
FLOOR In the Auction process will be established an minimum incentive (“to insure the return of the investment”)
DURATION OF INCENTIVE. The FIT will be fixed and valid during all the WF service life.
Renewable Regulatory decree n 28 of 3th March 2011
Renewable plants in operation AFTER the 1st of January 2013
Installed Capacity < CT
FITDIRECT ASSIGNMENT
Installed Capacity < CT
FITAUCTION
PRICES LOWER THAN BEFORE BUT FIXED (NO UNCERTAINTY)
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RegulatoryRegulatory
Main Italian Wind Companies Workshop promoted by IBERDROLA
Workshop target• Achieve a shared proposal, follow up and lobby to influence in the IMPLEMENTING DECREES
definition (30th Sept)• Improve the influence in the National Wind Energy Association (ANEV).
Other target
• IBERDROLA is a member of Directive Committee of ANEV (CM is Vice-president)
Companies not invited in the Workshop because especially interested in conventional energy
RegulatoryRegulatory
INCENTIVES AFTER 2015: In order to not jeopardize the investments already realized warranting of profitability: after the 31/12/15 the incentives should be fixed all along the wind farm service life and equal to the average value of GC in the previous 5 years.
FEED IN PREMIUM: The incentive should be a FIP (feed in premium) instead of a FIT (feed in tariff). It could avoid disadvantage of Price Energy increases and It could reduce the negative effects of the inflation.
AUCTION MECHANISM:
CAPACITY THRESHOLD (CT) = 50 MW Only the WF with a capacity bigger than 50 MW will participate to the Auction, the others ones will directly get a FIP
FLOOR The WFs participating to the auction will get in any case a minimum incentive (Floor) that warrants the profitability
MINIMUM REQUIREMENTS TO PARTECIPATE: The bidders should have a consolidated know-how and a proven financial capability
Two different Auction procedures; Permits and incentive assignment for WF off-shore or bigger than 100 MW. Only incentive assignment for WF with power between 50 and 100 MW (projects already
authorized)
OTHER PROPOSALS The workshop also drew up some proposals regarding the plant repowering and simplification of the authorization proceeding
Main Italian Wind Companies Workshop promoted by IBERDROLA POSITION PAPER