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ABOUT
RECURRENT
ENERGY
C o m p a ny I n t ro d u c ti o n
COMPANY INTRODUCTION & PROJECT HIGHLIGHTS
Corporate Overview
January 2011
ABOUT
RECURRENT
ENERGY
C o m p a ny I n t ro d u c ti o n
RECURRENT ENERGY: BUSINESS OVERVIEW
• A leading global solar project developer helping our world find a more sustainable way to meet its energy needs
• 2 GW project pipeline and 400MW portfolio of signed contracts makes us the third largest PV developer in North America
• Seasoned leadership team with expertise in the conventional and renewable power business
• As the primary development group for Sharp Corporation worldwide, we are a strong partner for utilities and large energy buyers
• Strong technology and supply chain capabilities enable us to deliver solar generating plants at market-leading cost
• 75MW on the construction calendar for 2011 plus the ability to deliver solar almost anywhere in the world
• Proven access to capital through a global network of financial partners that enables us to deliver solar at any scale
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ABOUT
RECURRENT
ENERGY
C o m p a ny I n t ro d u c ti o n
2 GW GLOBAL DEVELOPMENT PIPELINE
Germany
Spain
FranceOntario
United States Israel
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ABOUT
RECURRENT
ENERGY
C o m p a ny I n t ro d u c ti o n
STRATEGIC POSITION IN NORTH AMERICA
Market Segment
Central Scale
Co
ntr
acte
d P
ort
folio
Siz
e
Residential Commercial Distributed
Sm
all
Larg
e
Wholesale/UtilityRetail
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ABOUT
RECURRENT
ENERGY
C o m p a ny I n t ro d u c ti o n
VISION: A FLEET OF SOLAR GENERATING ASSETS
Recurrent Energy develops, builds, and operates distributed and central scale solar power systems. We sell clean electricity to utilities and
large energy users at competitive prices via Power Purchase Agreements and Feed-in Tariffs.
Generation Transmission Substation Distribution Consumption
Electricity Grid
Ground Ground and Rooftop Primarily Rooftop
5-20 MW
Utility
Offtaker
2-8 MW
Utility
Offtaker
1-3 MW
Residential
+ C&I
Ground
40+ MW
Utility
Offtaker
Central Scale Wholesale Distributed Generation RetailMarkets
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ABOUT
RECURRENT
ENERGY
C o m p a ny I n t ro d u c ti o n
MANAGEMENT & FINANCE TEAM
Pat Caramante
VP, Engineering & Construction
FirstWind, Garrad Hassan America, FPL Energy, General Electric, Con Edison NY,
EBASCO, ABB
Arno Harris
CEO
Energy Innovations, Prevalent Power, WineShopper, RedEnvelope, Novo
Media Group
Judith Hall
SVP, General Counsel
Babcock & Brown, Southern California Edison, Pacific Gas & Electric, Electric Power
Research Institute
Sheldon Kimber
SVP, Development
Goldman Sachs, Calpine
Corporation, Accenture
Karl Knight
MD, International Development
Regenesis Power, GCA Savvian,
Credit Suisse First Boston, DLJ
Fredrick Vaske
VP, Project Finance
SunPower Corporation, GATX Capital, USL Capital, D’Accord Financial Services
Tiffany Elliott
VP, Origination and Structuring
Amerex Energy Consulting, Citigroup
Energy, Calpine Energy Services
Michael Metzner
CFO
FirstWind, Exelon, Atlantic
Richfield Corporation
Steve Finno
VP, Corporate Finance
Babcock & Brown, GATX Capital,
Itel Corporation
solar power
project finance
power marketing
site acquisition
development
engineering
construction
operations
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ABOUT
RECURRENT
ENERGY
C o m p a ny I n t ro d u c ti o n
RECURRENT ENERGY & SHARP CORPORATION
Fall 2010: Recurrent Energy and Sharp Corporation announced the acquisition of Recurrent Energy by Sharp
• Vision: Create a top global solar developer and generating company, leading the way in a historic transition to renewable power.
• Focus: Recurrent Energy is the primary development company for Sharp Corporation worldwide.
• Strength: A combined global network of finance, EPC, and technology partners to deliver solar at any scale.
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ABOUT
RECURRENT
ENERGY
C o m p a ny I n t ro d u c ti o n
PPA & FIT PROJECT HIGHLIGHTS
Operating ProjectsSpanish Rooftop 5 MW, FiT Operating Spanish feed-in tariff. Summer 2010 COD.
SFPUC/Sunset Reservoir 5 MW, PPA Operating 25-year PPA with SFPUC. Fall 2010 COD.
Kaiser Permanente 15 MW, PPA Operating/Final COD ‘11 16 projects spread across 15 Kaiser sites.
Contracted ProjectsSW Utility Solar Farms 22 MW, PPA COD 2011-2012 PPAs signed, construction under way.
Ontario Solar Farms 170 MW, FiT COD 2012-2014 19 projects spread across southeastern Ontario.
SCE Solar Farms 80 MW, PPA COD 2012-2013 5 PPAs in total; projects spread across central/southern CA.
SMUD Solar Farms 77 MW, PPA COD 2012 Multiple projects in Sacramento, CA area.
PJM Rooftop 6 MW, Wholesale COD 2011 Rooftop solar project in PJM service territory.
370+ MW Contracted, Operating, or in Construction
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170+ MWdc
Ontario Power Authority FiT
19 Projects in Total
All Ground-Mount Solar
2012-2014 CODs
170 MW OF SOLAR FARMS IN ONTARIO
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22 MWdc, 2 Projects
Utility Offtaker
Construction Under Way
2011-2012 CODs
22 MW OF SOUTHWEST SOLAR FARMS
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80 MWdc, Multiple Projects
~71,000 PV Modules
Tracker System
Part of 80 MW of Signed PPAs
2012 COD
22 MW OF 80 MW: SOUTHERN CALIFORNIA EDISON
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5 MWdc
~24,000 PV Modules
Above Water Reservoir
Among Largest of Kind
Currently Operating
5 MW SUNSET RESERVOIR PROJECT
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4.8 MW PROLOGIS ROOFTOP PROJECTS IN SPAIN
4.8 MWdc Rooftop PV
Building Integrated Solution
Power Sale via Spanish FIT
Roofs Rented from ProLogis
Currently Operating
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15 MWdc, Multiple Projects
Rooftop, Ground, ES
Sites throughout CA
2010-2011 CODs
15 MW: KAISER PERMANENTE
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ABOUT
RECURRENT
ENERGY
C o m p a ny I n t ro d u c ti o n
Michael MetznerCFORecurrent Energy(p)415.501.9415(f) 415.675.1501(e)[email protected]
PROJECT FINANCE CONTACTS
Fred Vaske
VP Project Finance
Recurrent Energy
(p) 415.501.9410
(f) 415.675.1501
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