Energy Business Group

1
(No Transcript)
2
Electrowatt-Ekono, a leading international
consulting and engineering group in the energy
field

• Management consulting, power and heat, renewable
  energy, hydropower, oil gas
• 1485 energy specialists in 22 countries
• Net sales EUR 147 million

Member of the Jaakko Pöyry Group
Forest

• 5277 employees
• EUR 479 million

Infrastructure Environment
Energy
3
Unique track record
More than 110,000 MW installed powerplant
capacity with Electrowatt-Ekonoinvolvement

• 40,000 MW in thermal power and CHP
• 60,000 MW in hydro power
• 10,000 MW in nuclear power

9,000,000 t/year of waste are being treated in
plants where Electrowatt-Ekono has been involved
4
Global network
EE offices
other JP offices
Helsinki St Petersburg Tallinn Vilnius Moscow Lódz
Cracow Mannheim Munich Lorrach Zurich Milano
Karlstad Oslo Gothenburg Hamburg Oxford London Hor
sham Heidenau Paris Lyon Madrid
Vancouver
Montreal
Appleton
Tokyo
Seoul
Beijing
New York
Teheran
Shanghai
Qatar
New Delhi
Taipei
Riyadh
Dubai
Muscat
Hanoi
Manila
Abu Dhabi
Mexico City
Bangkok
Valencia
Kuala Lumpur
Jakarta
Singapore
Lima
São Paulo
Auckland
Buenos Aires
Melbourne
Durban
5
Business areas and services
Integrated approach
Management Consulting
Renewable
Power and Heat
Focus
on project development and implementation,
improvement and rehabilitation, operation
maintenance
Hydropower
Regional Business
Focus
on energy business and the environment
6
The unique know-how combination guarantees
future-oriented, optimized solutions

• Core competence of Electrowatt-Ekono Consulting

Business development
Strategy
Implementation
Operation
Management consulting
Technology consulting
7
Wind power projects in Central America

• Guatemala 15 MW
• Feasibility study to be completed in a few weeks
• Panama 80 MW
• Pre-feasibility study completed in August
• Feasibility study to be started
• Partnership financing for the Feasibility study
  sought

8
Guatemala

• Developer Empresa Electrica Buenos Aires S.A.
  (EEBA)
• Size 15 to 20 MW
• Phase
• Wind measurements carried out for several years
• Several previous studies conducted
• Turbine type Winwind 1 MW or Vestas 660 kW
  (second-hand)
• Negotiations for PPA going on with COMEGSA
• Negotiations for debt financing going on with
  CABEI
• Partnership financing was granted for the
  finalising and updating of Feasibility Study
• Partners EEBA, Winwind, FMI, Electrowatt-Ekono

9
(No Transcript)
10
The wind farm site
Volcan de Pacaya (2500 m)
11
The wind farm site
12
Previous studies an example

• UNEP / Solar and Wind Energy Resource Assessment
  (SWERA)
• Wind Resource map prepared with MesoMap software
  (TrueWind Solutions, USA)
• Estimated wind power density on site 600 800
  W/m2 at 50 m

13
Our results wind power density
14
Wind speed and wind direction distributions
15
Seasonal variations
16
Reference data / INSIVUMEH 1990 - 2004
New anemometer type
17
Turbulence

• Relatively high turbulence intensity also at high
  wind speeds
• Wind speeds fluctuate rapidly between calm and
  15-20 m/s (also during the wind season)
• All three measurements show similar behaviour

18
Production estimates uncertainty analysis
19
Pending issues

• Grid connection study (EEBA)
• The actual site area to be defined more precisely
  (EEBA)
• PPA terms still unclear (price, term) (EEBA)
• Investment cost estimates seem too high (EEBA,
  EWE)
• Financing options (EEBA, EWE)
• Cash flow analysis to be completed
• Comparison of investment alternatives
  second-hand vs. new turbines
• According to initial analysis new turbines are
  more profitable
• Profitability of both alternatives still uncertain

20
Conclusions

• Wind resource probably not the best in Guatemala,
  but still sufficient
• The site is technically easy to construct
• Project size is suitable for the site and as
  the first project in the country
• No major environmental hurdles
• Financial feasibility still a question mark
• Pending issues to be clarified in cooperation
  with EEBA and Winwind
• Study to be ready by the end of October?

21
Panama

• Developer Santa Fe Energy S.A. (SFE) and
  LOMOSA S.A.
• Size 80 MW
• Phase
• Wind measurements carried out for two years at
  one location, 20 m
• Pre-feasibility study conducted for 20 MW by
  Lahmeyer in 2002
• Turbine type Winwind 1 MW
• Negotiations for PPA going on
• EIA to be finalised by January 2006
• Partnership financing was granted for the
  finalising and updating of Pre-Feasibility Study
• Partners SFE, LOMOSA, Winwind, Electrowatt-Ekono

22
(No Transcript)
23
The wind farm site

• Province of Veraguas
• 50 km north of Santiago
• Site area gt 20 km2
• Elevation 1000 to 1400 m a.s.l.

24
(No Transcript)
25
Wind speed and wind direction distributions
26
Wind speed and wind direction distributions
Windy season (December-April)
Calm season (May-November)
27
Seasonal variations
28
Turbulence

• Lower turbulence intensity than at Guatemala site
• Very rapid wind speed fluctuations also at this
  site

29
Production estimates uncertainty analysis
30
Conclusions

• Wind resource extremely good
• Capacity factor maybe 0.45 to 0.50, still very
  big uncertainty
• Large utilizable area (gt 20 km2)
• No major environmental hurdles
• Committed developers and strong governmental
  support
• Initial estimate for IRR gt 20 even without
  carbon credits
• Technically and financially extremely challenging
  project
• High winds, complex terrain, tropical climate
• Big project, far from the transmission grid,
  large investment
• Risks need to be carefully studied and mitigated
  to achieve financier confidence in the project

31
Major issues to be clarified in the Feasibility
Study

• Detailed wind resource assessment
• Wind speeds at hub height
• Wind speeds in different parts of the site area
• Wind direction distribution
• Extreme winds gt Turbine specifications !!
• Weather constraints for construction
• Site topography (part of the topographic data
  missing)
• EIA and permits
• Grid connection and PPA terms
• Financing options
• Cash flow analysis

32
Continuation

• Partnership financing is sought for the
  Feasibility Study and Environmental Impact
  Assessment
• Developers investing EUR 100.000
• 100.000 sought from the Partnership
• Potential international co-developer / investor
  identified
• Next steps
• Environmental Impact Assessment
• Wind measurements on several locations within the
  area
• Detailed Feasibility Study, including
• Financing and PPA
• Grid connection
• Production and profitability analysis
• Topographic studies, conceptual study for civil
  works, etc.