Absolute Clean Energy Public Company Limited

Absolute Clean Energy Public Company Limited

Analyst Meeting Q4’20 and YE’20

Ticker: ACE

2 Strictly Private & Confidential

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Disclaimer


Operating performance

Financial Highlights

Business UpdatesI

III

Table of Contents for Analyst Presentation

II

Business Updates


Projects COD and Open in Q4’20

Projects Under Construction & Project Progress

Q4’20 & YE’20 Key Highlights & Events after the reporting date

Waste landfill Project, Udon Thani Floating Solar 1.52 MW,

Nakhon Ratchasima

Q4’2020 Status

90%

Remark:/1 Waste landfill COD on 5 Jan 21

Q4’2020 Status

VSPP Klong Klung Project 9.9 MW,

Kampangphet

Q4’2020 Status

Expected COD within 2021

MSW Krabi Project, Krabi 6 MW Don Mon Project, Buriram 9.5 MW Muang Buriram Project,

Buriram 7.5 MW

COD on 28 Dec 2020 Commenced for electricity

generation on 27 Dec 2020

Commenced for electricity

generation on 15 Dec 2020

COD on 5 Jan 21: Currently in operation/1

100%61%

COD on 31 Mar 2021:Currently in Operation


Key Event highlights and Achievements in YE’20

Q4’20 & YE’20 Key Highlights & Events after the reporting date (Con’t)

• Jan 2020 : EXIM refinance ABA’s project loan at Prime rate -2.5%

• Feb 2020 : AAA’s loan contract revision 1) PN at MLR -2.5% till 2021 2) Loan at MLR -2.5% from 2022-2023 and MLR -1.5%

throughout loan term

• 15 Jun 2020: ACE paid interim dividend from the retained earnings at 0.03 Baht/share

• 15 Jun 2020: ACE included in SET 100, FTSE SET Mid Cap and FTSE SET Shariah indexes

• 10 Jul 2020: ACE signed SPA with UA Wittaya plc. to acquire 3 biomass power plant companies with total installed power generation

capacity of 26.9 MW

• 21 Aug 2020: ACE acquired and transferred 3 biomass power plant companies from UA Wittaya plc. to become ACE’s subsidiaries

with the consideration paid of Baht 464.6 million. As a result, the consideration paid is lower than fair value of net asset transferred. Therefore, ACE gain from this acquisition as Baht 2.2 million.

• 6 Oct 2020: VSPP – Biomass (ACP4) Kampangphet with total installed capacity 9.9 MW has been signed PPA with PEA .

• Dec 2020: COD MSW Krabi on 28 Dec and opened SBM and ABE (UAB) 15 Dec and 27 Dec for electricity generation respectively.

Project in pipeline update

• 5 Jan 2021 : COD Waste Landfill at Udonthani province.

• 6 Jan 2021 : SPP Hybrid (BPP3) Kampangphet with total installed capacity 20 MW has been signed PPA with EGAT.

Krabi MSW Power Plant

Strictly Private & Confidential10

85.2

209.5 210.5 212.2

245.91449.57 449.57 449.57

550

2016 2017 2018 2019 2020 2021 2022 2023 2024

257.57

“To be the world practical model of Clean energy powerplant, which is responsible for environment, society, and shareholders”

1979/1 (40 years

ago): Shaiyo Triple

A Group

Board of directors

have experienced to

lead rice, corns,

cassavas and

woodchips producer

and exporter, has

expertise in

agriculture industry

and R&D in the fast

growing tree and

intrigued in exploring

the energy sector.

2016:

First COD of VSPP

“ALCP” MSW Power

Plant

2015:

Established

Absolute Clean

Energy (ACE) as a

Holding Company

with initial paid-up

capital of THB 0.5

mm.

2017:

First COD of SPP

“AAA” Cogeneration

Power Plant

2017:

Won and secured 4

SPP Hybrid Bidding

of total 93 capacity

MW

2018:

First COD of VSPP

Solar Rooftop

2012:

First COD of VSPP

“ACP1” Biomass

Power Plant

2024:

Expected to secure

an installed capacity

of 1,000 PPA MW

and becomes

Thailand’s largest

biomass power

producer

2022:

Estimated to

COD all

projects/2(449.57

MW)/3

Unit: MW

ACE’s Key Development Milestones

Remark : /1 http://www.saaa.co.th/SAA_ENG/home.php

/2 Estimated timeline: Currently, Arbitration result states that PEA has to return PPA to ACE and with the assumption that normally power project’s

construction period is approx. 2 years

/3 Including APP’s capacity MW of 9.9, Currently, APP’s shareholders sent LOI for APP share purchase proposal to ACE

ACE’s Total Capacity MW/3 over time

2019:

Listed in Stock

Exchange of

Thailand

A ACE Business Portfolio in Thailand

Power Type

Biomass Co-generation MSW Solar Waste Landfill

ACE’s Holding

Stake in

Projects

100.0% 100.0% 100.0% 100.0% 100.0%

Existing

+ Pipeline

Projects

12+14+1/1 1+0 2+0 4+1 1+0

Capacity MW

(Total Capacity

MW)

PPA MW to

Government &

IU

(Total PPA

MW)

116

201.9114.35

5.08

0.24

12.0

Remark: /1 Including APP’s capacity MW of 9.9. Currently, APP’s shareholders sent LOI for APP share purchase proposal to ACE

/2 Electricity Sale Agreement (ESA) with IU

Total: 317.9/1 Total: 114.35 Total: 12.0

Total: 5.32/2

94.5164.31 90 8.9

Total: 258.81/1Total: 90 Total: 8.9

Total: 5.32

Existing Under Development + Pending for Development

Overview of ACE’s Portfolio

/1

/1

COD: 247.43

Pipeline: 202.14

Total: 449.57

COD: 21

Pipeline: 16/1

Total: 37/1

COD: 198.48

Pipeline: 164.55

Total: 363.03

100.0%

Power Plant Others

5.08

0.24

Assets Overview

Surin:

• No. 3

Khonkaen:

• No. 2 and 9

Roi-et:

• No. 5

Nongkhai:

• No. 6

Lampang:

• No. 7

Ubonratchathani:

• No. 8

Chachoengsao:

• No. 10

Kanchanaburi:

• No. 11

Kampangphet:

• No. 22, 23

• SPP – Hybrid

Srisaket:

• No. 31

Supanburi:

• No. 24

Nakornpathom:

• No. 25

Amnatcharoen:

• No. 28

Lopburi:

• No. 29

Krabi:

• No. 19

Pracheenburi:

• No. 30

Ranong:

• SPP - Biomass

▪ Operating projects

▪ Under development projects and

Pending for development projects

Nakhon Si Thammarat:

• 2 SPP - Biomass

COD Biomass

SCOD Biomass

COD Cogeneration

COD MSW

SCOD MSW

SCOD 4 SPP-Hybrid

Solar

Well-Balanced Portfolio with Diversified Locations

Source: Company information as of Dec. 2020

Remark: /1 Including APP’s capacity MW of 9.9, Currently, APP’s shareholders sent LOI for APP share purchase proposal to ACE /2 Estimated timeline: Currently, Arbitration result states that PEA has to return PPA to ACE and with the assumption that normally power project’s construction period is approx. 2 years

Chonburi:

• No. 1, 12, 14, 27, 32

Samut Sakhon:

• No.15

Nakhon Ratchasima:

• No. 4, 13 ,18, 21 ,32,33

TypeInstalled /

Equity MWPPA MW Location COD / SCOD Date Status

1 VSPP - Biomass 9.9 8 Chonburi 4/24/2012

2 VSPP - Biomass 9.9 8 Khonkaen 5/2/2012

3 VSPP – Biomass 9.9 8 Surin 10/30/2012

4 VSPP – Biomass 9.9 8 Nakhon Ratchasima 1/16/2013

5 VSPP – Biomass 9.9 8 Roi-et 6/4/2013

6 VSPP – Biomass 9.9 8 Nongkhai 12/26/2013

7 VSPP – Biomass 9.9 8 Lampang 7/9/2014

8 VSPP – Biomass 9.9 8 Ubonratchathani 8/14/2015

9 VSPP – MSW 6 4.5 Khonkaen 11/29/2016

10 SPP - Cogen 114.35 90 Chachoengsao 2/10/2017

11 VSPP – Biomass 9.9 8 Kanchanaburi 8/16/2017

12 VSPP – Solar Rooftop 1 1 Chonburi 11/20/2018

13 VSPP – Solar Rooftop 0.73 0.73 Nakhon Ratchasima 2/22/2019

14 1 Solar Rooftop 1 1 Chonburi 9/27/2019

15 1 Solar Rooftop 0.83 0.83 Samut Sakhon 1/5/2020

16 VSPP-Biomass 7.5 6.5 Buriram (SBM) 24/1/2006

17 VSPP-Biomass 9.5 8 Buriram (ABE) 6/2/2008

18 VSPP-Biomass 9.9 8 Nakhon Ratchasima (AAE) 11/10/2011

19 VSPP – MSW 6 4.4 Krabi 28/12/2020

20 Waste Landfill N/A N/A Udonthani 5/1/2021

21 Floating Solar 1.515 1.515 Nakhon Ratchasima 31/3/21

3 SPP – Hybrids

1 SPP – Hybrid93 76.31 Within 2022

EIA process

PPA signed 3

22 VSPP – Biomass 9.9 8 Kampangphet Within 2021 Under Construction

23 VSPP – Biomass 9.9 8 Kampangphet Within 2022

24 VSPP – Biomass 9.9 8 Supanburi Within 2022

25 VSPP - Biomass 9.9 8 Nakornpathom Within 2022

26 VSPP - Biomass 9.9 8 Nakhon Ratchasima Within 2022

27 VSPP - Biomass 9.9 8 Chonburi Within 2022

28 VSPP - Biomass 9.9 8 Amnatcharoen Within 2022

29 VSPP - Biomass 9.9 8 Lopburi Within 2022

30 VSPP - Biomass 9.9 8 Pracheenburi Within 2022

31 VSPP – Biomass 9.9 8 Srisaket Within 2022Under consideration of

Administrative Court

32 VSPP – Biomass/1 9.9 8 Chonburi Within 2022

Under negotiation

SCOD/2

33 1 Solar Rooftop 0.24 0.24 Nakhon Ratchasima Q1 2021 Under Construction

Total

Projects/MW37 449.57 363.03

Under

Development

and pending

for

development

(16 projects)

Existing

Projects

(21 Projects)

Under negotiation

SCOD/2

COD

COD

2

1

Buriram:

• No. 16,17

Udonthani:

• No. 20


Project Type Location Project Name Installed MW PPA MW Equity Stake Target SCOD Current Status Construction Progress

SPP Hybrid Nakhon Si Thammarat BPP2 25 21.5 100.00% Within 2022 EIA Approval Process N/A

SPP Hybrid Kampangphet BPP3 20 13.31 100.00% Within 2022 PPA signed on 6 Jan 21 N/A

SPP Hybrid Nakhon Si Thammarat ACE Solar 1 25 21.5 100.00% Within 2022 EIA Approval Process N/A

SPP Hybrid Ranong ACE Solar 2 23 20 100.00% Within 2022 EIA Approval Process N/A

VSPP – Biomass Kampangphet ACP4 9.9 8 100.00% Within 2021 Under construction

VSPP – Biomass Kampangphet ACP7 9.9 8 100.00% Within 2022 Under negotiation SCOD N/A

VSPP – Biomass Supanburi ACP5 9.9 8 100.00% Within 2022 Under negotiation SCOD N/A

VSPP - Biomass Nakornpathom ACP6 9.9 8 100.00% Within 2022 Under negotiation SCOD N/A

VSPP - Biomass Nakhon Ratchasima AAPP3 9.9 8 100.00% Within 2022 Under negotiation SCOD N/A

VSPP - Biomass Chonburi ALCP5 9.9 8 100.00% Within 2022 Under negotiation SCOD N/A

VSPP - Biomass Amnatcharoen AFT1 9.9 8 100.00% Within 2022 Under negotiation SCOD N/A

VSPP - Biomass Lopburi BPP1 9.9 8 100.00% Within 2022 Under negotiation SCOD N/A

VSPP - Biomass Pracheenburi PSPR1 9.9 8 100.00% Within 2022 Under negotiation SCOD N/A

VSPP – Biomass Srisaket ALCP4 9.9 8 100.00% Within 2022Under consideration of

Administrative CourtN/A

VSPP – Biomass/1 Chonburi APP1 9.9 8 100.00% Within 2022 Under negotiation SCOD N/A

VSPP-Solar Rooftop/2 Nakhon Ratchasima ACE Solar 5 0.24 0.24 100.00% Q1 2021 Under construction

Total 202.14 164.55

Q4’20 Key Highlights : Project Updates

Remark: /1 Including APP’s capacity MW of 9.9. Currently, APP’s shareholders sent LOI for APP share purchase proposal to ACE

/2 Status as of 31 Jan 21 is 80%

73%

61%

Operating Performance

15

ACE’s Biomass power plants

ACP1 Ban Bueng

ACP2 Phonthong

ALCP1 Si Chiang Mai

ALCP2 Sirindhorn

AAPP2 Chokchai

AAP1 Nam Phong


ACP3 Bo Ploy ABA1 ThoenAAPP1 Tanee

AAE Muang Korat (UKB) ABE Don Mon (UAB)

ACE’s Biomass power plants

SBM Muang Buriram


913

1,079

233 294 273

35.1%

38.8%

35.3%

40.2% 38.7%

0

200

400

600

800

1000

1200

2019 2020 Q4'2019 Q3'2020 Q4'2020

Biomass GrossProfit Biomass %GPM

ACE’s Biomass Operating Performance (9 Projects)

Plant Performance (9 Projects) Gross Profit and Margin

Availability Factor*

Capacity Factor**

Unit : THB mln

Remark:

* Availability Factor = Total operating hours/(Days*24 hours)** Capacity Factor = Electricity Unit sold /(Total operating hours*Total selling

Capacity)

Key Observation

• Gross Profit and Gross Profit Margin

▪ QoQ : -7% in Gross Profit and -1.5% in Gross Profit Margin

▪ YoY : +17% in Gross Profit and +3.4% in Gross Profit Margin

93% 92%96% 99%

0%

20%

40%

60%

80%

100%

2018 2019 2020 Q4'2020

98% 98% 99% 99%

0%

20%

40%

60%

80%

100%

2018 2019 2020 Q4'2020


Availability Factor / Capacity Factor

ACE’s Biomass Operating Performance (3 acquisitioned projects)

AAE (UKB) Plant Performance

SBM Plant Performance


ABE (UAB) Plant Performance


50%

79%

97%98% 93% 97%

0%

20%

40%

60%

80%

100%

1 Jul - 20 Aug 21 Aug - 30 Sep 1 Oct - 31 Dec

Availability factor Capacity factor

19%

N/A

71%78%

N/A

81%

0%

20%

40%

60%

80%

100%

1 Jul - 20 Aug 21 Aug - 30 Sep 27 - 31 Dec


42%

N/A

72%

33%

N/A

93%

0%

20%

40%

60%

80%

100%

1 Jul - 20 Aug 21 Aug - 30 Sep 15 -31 Dec


Key Observation

• AAE, ABE and SBM had been transferred to ACE since 21 Aug 2020.

• AAE operated its performance from 21 Aug – 31 Dec 2020 and record

revenue full quartered in Q4/20

• SBM and ABE were shut down for machinery and performance improvement.

However, SBM has operated since 15 Dec 2020 and ABE has operated

since 27 Dec 2020 respectively.

19

ACE’s MSW Power Plants

MSW Khon Kaen

MSW Krabi


ACE’s MSW Operating Performance

Plant Performance (2 Projects) Gross Profit and Margin

Availability Factor

Capacity Factor

Unit : THB mln

92% 95% 94% 98%

0%

20%

40%

60%

80%

100%

2018 2019 2020 Q4'2020

94% 96% 97% 97%

0%

20%

40%

60%

80%

100%

2018 2019 2020 Q4'2020

136

144

43

26

37

50.0%52.4%

59.1%

40.6%

51.5%

0

40

80

120

160

2019 2020 Q4'2019 Q3'2020 Q4'2020

MSW GrossProfit MSW %GPM

Key Observation

• Quarterly Gross Profit and Gross Profit Margin

▪ QoQ : +44% in Gross Profit and +10.9% in Gross Profit Margin

▪ YoY : -14% in Gross Profit and -7.6% in Gross Profit Margin


ACE’s Co-generation Power Plant

AAA Chachoengsao


ACE’s Co-Gen Operating Performance

Plant Performance (1 Project) Gross Profit and Margin

Availability Factor

Capacity Factor

Unit : THB mln

Key Observation

• Quarterly Gross Profit and Gross Profit Margin

▪ QoQ : -17% in Gross Profit and -0.2% in Gross Profit Margin from

decrease of average gas price, resulting in lower cost per unit and

annual plant shut down

▪ YoY : -19% in Gross Profit but +1.9% in Gross Profit Margin

GP decrease from planned plant shut down. However, GPM increase

because of cost saving by using in-house O&M service.

98% 99%

0%

20%

40%

60%

80%

100%

2018 2019 2020 Q4'2020

100% 100%

80% 82%76%

70%

0%

20%

40%

60%

80%

100%

2018 2019 2020 Q4'2020

577

547

147 144 119

27.9%

30.2%29.1%

31.2% 31.0%

0

200

400

600

800

2019 2020 Q4'2019 Q3'2020 Q4'2020

Co-Gen GrossProfit Co-Gen %GPM

Financial Highlights


425

463

454

34.2%36.0%

36.6%

0

200

400

600

800

Q4'2019 Q3'2020 Q4'2020

Gross Profit %GPM

1,243 1,286 1,243

6 3 2

200

400

600

800

1,000

1,200

1,400

Q4'2019 Q3'2020 Q4'2020

Sales revenue Other revenue

Q4’20 Financial Highlight P&L

Revenue/1 Gross Profit and Margin

Remark: 1/ Exclude construction revenue

2/ Exclude GP from 3 UWC Biomass Power Plants.

Unit : THB mlnUnit : THB mln

1,2891,249 1,245

+0% YoY

-3.3% QoQ

Total Revenue

Total Revenue in Q4’20 was THB 1,245 mln

• QoQ : - 3.4% and YoY : -0.3% result from significant decrease in

Co-gen power plant sales due to planned shut down.

Gross Profit Margin in Q4’20 was 36.6%

• QoQ : +0.6% and YoY : +2.8% from increase in %GP of MSW

power plant.

Sale Revenue in Q4’20 was THB 1,243 mln

• QoQ : -3.3% results from significantly decrease in Co-gen power plant

sales due to planned plant shut down and no revenue from external O&M

service. However, it was substituted by revenue from 3 acquisitioned

Biomass Power plants (AAE was the first full-quartered of revenue

recognition)

• YoY : +0% result from significantly decrease in Co-gen power plant sales

as above

Gross Profit in Q4’20 was THB 454 mln

• QoQ : -1.9% from GP of Biomass increased by THB 4.8 mln

GP of MSW increased by THB11.4 mln

GP of Co-Gen decreased by THB 24.6 mln

• YoY : +6.9% from GP of Biomass increased by THB 62.8 mln

GP of MSW decreased by THB 6.8 mln

GP of Co-Gen decreased by THB 27.8 mln

+6.9%YoY

-1.9% QoQ

36.2%/2 37.0%/2

% GPM (excl.

UWC Biomass)


1,626

1,791

425 463 454

32.8%

35.9%

34.2%36.0%

36.6%

0

500

1000

1500

2000

2019 2020 Q4'2019 Q3'2020 Q4'2020

Gross Profit %GPM

Financial Highlight – YE’20 & Q4’20 Gross Profit and Gross Profit Margin

Unit : THB mln

36.2%/1

Remark: 1/Exclude GP from 3 UWC Biomass Power Plants.

% GPM (excl. UWC Biomass)

37.0%/1


479545 501

38.5%

42.4% 40.3%

0

200

400

600

800

Q4'2019 Q3'2020 Q4'2020

EBITDA %EBITDA Margin

248

375327

-3

35

-73

20.0%

29.1%26.3%

-100

0

100

200

300

400

Q4'2019 Q3'2020 Q4'2020

Profit from ordinary activities Extraordinary items

%Core Margin

Q4’20 Financial Highlight P&L

Core Profit/ Net Profit

Unit : THB mln

EBITDA and EBITDA Margin

Unit : THB mln

254

410

245

EBITDA

-8% QoQ

Core Profit in Q4’20 was THB 327 mln

• QoQ : -13% from significantly decrease in Co-gen power plant sales due to

planned plant shut down and revenue from external O&M service.

• YoY : +32% from increase in sales from;

1) Record of revenue from 3 acquisitioned Biomass power plants

2) Significantly decrease in finance cost

3) Efficiency of managing production process control

EBITDA in Q4’20 was THB 501 mln

• Core EBITDA QoQ : -8% but YoY : +5% from EBIT margin

improvement.

Net Profit in Q4’20 was THB 254 mln

• QoQ :-38% from decrease in sale of goods and service and loss from FX

• YoY : +4 % from refinancing loans by paid-off debentures and other institution

loans resulting lower in cost of fund since Q4/19 .

Core profit

+32% YoY

Core profit

-13% QoQ

EBITDA

+5% YoY

Remark: 1/ Exclude Core Margin from 3 UWC Biomass Power Plants .

2/ Exclude EBITDA from 3 UWC Biomass Power Plants.

43.1%/2

Net profit

+4% YoY

Net profit

-38% QoQ

Net Profit

41.6%/2

% EBITDA Margin (excl.

UWC Biomass)

28.0%/129.6%/1

% Core Margin (excl. UWC Biomass)


884

1,359

248 375

327

-69

149

-3

35

-73

17.9%

27.2%

20.0%

29.1% 26.3%

-100

100

300

500

700

900

1100

1300

1500

1700

2019 2020 Q4'2019 Q3'2020 Q4'2020

Profit from ordinary activities Extraordinary items %Core Margin

Financial Highlight – YE’20 & Q4’20 Net Profit / Core Profit / Core Profit Margin

Net Profit

815

Unit : THB mln

1,508

245

410254

Q4-2019 Q3-2020 Q4-2020

Ordinary

activities

Extraordinary

itemsTotal

Ordinary

activities

Extraordinary

itemsTotal

Ordinary

activities

Extraordinary

itemsTotal

Profit before tax (EBT) 255 (3) 252 375 44 419 338 (91) 247

Tax income(expense) (7) - (7) - (9) (9) (11) 18 7

Net profit 248 (3) 245 375 35 410 327 (73) 254

28.0%/1

Remark: 1/Exclude Core Margin from 3 UWC Biomass Power Plants.

29.6%/1

% Core Margin (excl. UWC Biomass)


Financial Highlight – YE’20 & Q4’20 EBITDA

Unit : THB mln

Remark: 1/Exclude EBITDA from 3 UWC Biomass Power Plants.

43.1%/1

1,865

2,233

479 543

501

37.7%

44.8%

38.5%42.4%

40.3%

0

500

1,000

1,500

2,000

2,500

2019 2020 Q4'2019 Q3'2020 Q4'2020

EBITDA Extraordinary items %EBITDA Margin

41.6%/1

% EBITDA Margin (excl.

UWC Biomass)


ACE Outstanding Debt and Leverage Ratio

ACE’s Leverage Ratio

Unit: THB mln December 31

2018 2019 2020

Current Interest-bearing debt 1,166 1,084 842

Non-Current Interest-bearing debt 6,632 1,911 3,106

Total interest-bearing debt 7,798 2,995 3,948

Cash equivalent and restricted cash 429 571 760

Net Interest-bearing debt 7,369 2,424 3,188

Equity (THB mln) 5,572 10,793 11,993

Unit : THB mln

5,572

10,793

11,993 1.40x

0.28x 0.33x

1.32x

0.22x 0.27x

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

2018 2019 2020

Total Equity IBD/E Net IBD/E

30

2 Operational Expertise &

Economy of Scale

✓ Lower plant heat rate = decrease fuel

consumption by up to 30%

✓ Artificial Intelligence, IoTs and Big

data for cost control and operations

improvement

✓ Environmentally friendly

✓ Proven track record in building and

running 19 successful powerplants

projects

✓ Continuous operational improvements

✓ Economy of scale

✓ Strong feedstock purchasing team

✓ Last supply chain network and efficient

(over 40 years in the making)

1 Advance Technology

3 Relationship with Key

Stakeholder

✓ Major shareholders’ plantation

business can support long-term

feedstock development plan

✓ Strong & long-term relationship with

communities and farmers

✓ Strong relationship with lender

ACE’s 3 Core Value Represent Competitive Advantage to Secure New PPAs

R&D

Sustainability

✓ Fuel crops from major

shareholders’ plantation

business

✓ New Biomass Fuel Types

✓ Machineries and improved

design

✓ Feed stock security

✓ Financial security

✓ Community support

Knowhow

✓ Low O&M cost

✓ Strong & capable team of professionals

ready to handle new projects.


ACE’s Key Strengths and Opportunities

2

3

Efficient Operational Capabilities with Continuous Improvement

▪ Lower Feedstock and O&M cost which leads to higher margin

▪ Stronger creditworthiness which leads to lower financing cost

▪ Peer-to-Peer Electricity Trading which leads to additional electricity sales

Low Downside Risk

▪ Secured Demand & Cashflow (Long term Power Purchase Agreement with the Government)

▪ Proven Operational Excellence & Feedstock Management

▪ Our business model commits to the greater good and has a positive Total Societal Impact (TSI)

Continuous Growth from Projects in the Pipeline and Future

▪ Power Plant’s PPA with exceptional tariff rate

▪ Better technology which leads to higher efficiency and less feedstock / kWh

▪ Economy of Scale resulting in lower CAPEX, OPEX, and SG&A

▪ Appreciation of THB potentially leads to lower CAPEX

▪ 28% share in the latest biomass power plant bidding

5

World Megatrend

▪ “Electrification” Era

▪ Global & Thailand Commitment to Zero Carbon which implies the rise of renewable energy

▪ Biomass is one of the most reliable renewable energy that can replace the base load provided by conventional energy.

▪ ESG Business

1 Thailand’s Leading Integrated Power Producer with Highest Growth Potential

▪ Largest and fast-growing Biomass Power Producer supported by PPA with PEA in Thailand

▪ No. 1 Renewable Power Producer in Thailand in terms of Equity MW Growth

4

32

Total Societal Impact(TSI) and Environmental, Social and Governance (ESG)

Biomass Power plant

Municipal Solid Waste (MSW) Power plant

Contribute to the Paris Agreement Decreasing greenhouse gas emission.

Future Potential To provide base-load to grid in place of conventional energy

• Saves government’s spending on putting down forest fires and farm fires

• Saves government’s spending on PM 2.5 related health problems such as respiratory

complications, masks distributions and water spraying in cities, to from PM 2.5 particle.

• Prevents economic loss from the decrease in tourism due to PM 2.5 problems.

Solves PM 2.5 problem at the root

• Additional income to farmers

• Stabilize income for farmers under market uncertainty → reduce empty subsidies that

the government has to give out

• Distribution of revenue to grassroots : Shift from LNG imports to purchasing fuel from individual Thai

farmers

Positive Economic and Societal

Impact

GDP Contribution/1 1.8 Billion THB / year / 9.9 MW biomass power plant

Source: Thailand Energy Academy

Contribute to the Paris Agreement Decreasing greenhouse gas emission.

Future Potential To provide base-load to grid instead of conventional energy

Solves MSW mountain problems Save healthcare and environmental spending for the government from problems caused by MSW in

landfills

Thank You

For further inquiry

www.ace-energy.co.th

Email : [email protected]

Date post:	13-Apr-2022
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