Sp New Energy Corporation · PSE:SPNEC
Sp New Energy — Investor Presentation (August 2022)
17 slides from Sp New Energy's investor presentation, August 2022
Slide 1: SPNEC Investor Presentation (August 2022)
SPNEC Investor Presentation (August 2022) To Complete the Development of 10 GW of Solar
Slide 2: Disclaimer
Disclaimer THE SECURITIES AND EXCHANGE COMMISSION HAS NOT APPROVED THESE SECURITIES OR DETERMINED IF THE INFORMATION HEREIN IS ACCURATE OR COMPLETE. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE AND SHOULD BE REPORTED IMMEDIATELY TO THE PHILIPPINE SECURITIES AND EXCHANGE COMMISSION. THE S
Slide 3: SP has an estimated 2/3 of the PH's contracted RE capacity
SP has an estimated 2/3 of the PH’s contracted RE capacity1 In 2015, Solar Philippines (SP) believed that falling solar prices would cause demand to exceed supply for solar sites, so began consolidating land and permits for 10 GW, which as of 2022 it has substantially contracted, with economics that
Slide 4: SPNEC is issuing shares to complete the development of 10 GW
SPNEC is issuing shares to complete the development of 10 GW Asset-for-Share Swap Stock Rights Offering (SRO) Private Placement • SPNEC has approved a share swap of • 1.88B shares offered to eligible • 3.25B shares (or balance needed to SP’s shares in companies (listed shareholders, with Pricing Dat
Slide 5: SPNEC targets 10 GW operational by 2026, with 5 GW attributable
SPNEC targets 10 GW operational by 2026, with 5 GW attributable Overview of Portfolio Business Model: Creating Value from Project Development Capacity 10 GW • SPNEC’s focus is to be the first to consolidate agricultural land Non-land CAPEX $7B and permits for projects, for which it secures off-take
Slide 6: SP invested ₱1B to develop 400 MW valued at ₱10B+ via this model
SP invested ₱1B to develop 400 MW valued at ₱10B+ via this model • SP invested ~₱1B in 2015 (in cash and land)1 as equity for Batangas-1, in which it sold 38% to KEPCO in 2018 for ₱2.25B, which it used to develop its pipeline of projects, including Tarlac-1, in which it sold preferred shares convert
Slide 7: First 1 GW
First 1 GW Entity SP Calatagan SP Tarlac Various SP Tanauan SP Nueva Ecija Planned Land Partly Owned, Partly Owned, Owned N/A Lease Arrangement Partly Lease Partly Lease Planned Capacity 63 MWdc 200 MWdc 50 MWdc 187 MWdc 500 MWdc Timeline Partly operational; balance for Notice to Proceed by 2023, Co
Slide 8: Green Energy Auction Program (GEAP) 1.8 GW
Green Energy Auction Program (GEAP) 1.8 GW SP Southern Entity SP Central Luzon2 SP South Luzon2 SP Visayas Mindanao2 Planned Land To be acquired by To be acquired Lease Lease Arrangement SPNEC by SPNEC Planned 400 MWdc 800 MWdc 400 MWdc 200 MWdc Capacity Planned Notice to Proceed 2024, Commercial Op
Slide 9: Batangas Baseload 1.8 GW
Batangas Baseload 1.8 GW Entity SP Batangas Baseload Original Proponent Solar Philippines Batangas Baseload Corporation Planned Land Proposed solar power plants with battery storage Lease from related party Proposed Plant Arrangement located in the province of Batangas, Cavite and/or Description Lag
Slide 10: Terra Solar 3.5 GW
Terra Solar 3.5 GW Entity Terra Solar Philippines, Inc. (TSPI) Planned Land To be acquired by SPNEC then acquired by TSPI Arrangement Up to 4000 MWdc based on site capacity Planned Proposed supply based on a plant that is able to generate at Capacity least 3.72 TWh/year (indicated as 2500 MW, which
Slide 11: SPNEC Corporate Structure Post-SRO, Pre-Share Swap
SPNEC Corporate Structure Post-SRO, Pre-Share Swap Affiliates outside of Solar Philippines Power Countryside Investments Solar Philippines Power Project Holdings, Inc. Holdings Corporation Public (Affiliate of SPPPHI that bought Project Holdings, Inc. shares in IPO) Solar Philippines Commercial Roof
Slide 12: SPNEC Corporate Structure Post-Share Swap
SPNEC Corporate Structure Post-Share Swap Countryside Investments Holdings Corporation Solar Philippines Power Public (Affiliate of SPPPHI that Project Holdings, Inc. bought shares in IPO) 0.8% 79.2%1 20.0%1 SPNEC Solar Philippines Solar Philippines Tarlac Solar Philippines Tanauan Solar Philippines
Slide 13: Summary of the Indicative Terms of the Stock Rights Offering
Summary of the Indicative Terms of the Stock Rights Offering Issuer SPNEC Rights Shares 1,875,649,995 common shares of the Issuer Entitlement Ratio Ratio of 1 Rights Share for every 1.28 existing common shares held as of Record Date Use of Proceeds Project development (including securing land and of
Slide 14: How to Invest – Scripless Eligible Shareholders (Full Payment)
How to Invest – Scripless Eligible Shareholders (Full Payment) 1 Information Dissemination 2 Submission 3 Full Payment • Check and follow your Depository Participant’s (DP) internal procedures 100% for subscribing to the Offer. • If the beneficial investor is Non- Filipino, the relevant DP must subm
Slide 15: How to Invest – Scripless Eligible Shareholders (Installment)
How to Invest – Scripless Eligible Shareholders (Installment) 1 Information Dissemination 2 Submission 3 25% Down Payment • Check and follow your Depository Participant’s (DP) internal procedures 25% for subscribing to the Offer. • If the beneficial investor is Non- Filipino, the relevant DP must su
Slide 16: For inquiries, email [email protected]
For inquiries, email [email protected] 16
Slide 17: Appendix – Under development since 2015 to be ready by 2024
Appendix – Under development since 2015 to be ready by 2024 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2015-2016 2016-2019 2016-2024 2016-2022 2016-2024 2019-2024 Site identification: DOE Service NGCP Land Permitting: In parallel Contracting: Having Confirmed areas with Contracts: Fulfilled I