Sp New Energy Corporation · PSE:SPNEC
Sp New Energy — Investor Presentation (March 2022)
14 slides from Sp New Energy's investor presentation, Mar 31, 2022
Slide 1: SPNEC Investor Presentation
SPNEC Investor Presentation March 31 2022
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: Objectives for Today’s Briefing
Objectives for Today’s Briefing 1 Summary of Corporate Actions 2 SPNEC Portfolio Post-Share Swap 3 Key Considerations 3
Slide 4: SPNEC IPO on December 17 2021
SPNEC IPO on December 17 2021 Php 2.7 billion IPO from sale of primary shares at PHP 1.00 per share SPNEC as first pureplay solar company to list on the PSE, Nueva Ecija as single solar project development Average daily trading value of ~Php 345 million since IPO (~USD 6.7 million) Volume-weighted a
Slide 5: Summary of Corporate Actions
Summary of Corporate Actions Increase in Authorized Capital Asset-for-share swap Stock Rights Offering (SRO) Stock (ACS) § SPNEC board and stockholder § SPNEC board and stockholder § Planned issuance of 1.875 billion approval for increase in authorized approval to acquire Solar Philippines shares at
Slide 6: SPNEC Corporate Structure Post-Share Swap
SPNEC Corporate Structure Post-Share Swap Solar Philippines Power Project Holdings, Inc. Solar Philippines Nueva Ecija Corporation Solar Philippines Solar Philippines Tarlac Terra Solar Philippines, Solar Philippines Tanauan SP Holdings, Inc. Calatagan Corporation Corporation Inc. Corporation Solar
Slide 7: Overview of SPNEC Portfolio
Overview of SPNEC Portfolio Solar Philippines Nueva Ecija Corporation Other JV’s To Be Batangas-1 Batangas-2 Terra Solar Announced Rooftops Solar Philippines Calatagan Solar Philippines Tanauan Terra Solar Philippines Inc. Various SPVs Various Rooftop SPVs Corporation Corporation • 63 MW operational
Slide 8: SPNEC aims to create Php 15m/MW of value from 10 GW by 2025
SPNEC aims to create Php 15m/MW of value from 10 GW by 2025 v Project developer that creates value by consolidating land and permits for JV’s with IPP’s v Approved share swap with its parent, SP, that would add 175 MW operating, and over 10 GW of developments with DOE SESC’s Solar Energy Service Con
Slide 9: Turning ~Php 1B in 2015 into ~Php 10B by 2021 from first projects
Turning ~Php 1B in 2015 into ~Php 10B by 2021 from first projects v Founded in 2013 to accelerate solar adoption, has come to focus on developing sites, seeing in it the greatest first-mover advantage v Invested ~Php 1B (45% cash, 55% land) in 2015 for 400 MW and sold 38-50% at ~Php 10B valuation by
Slide 10: Operating Solar Farms
Operating Solar Farms Batangas-1 Solar Farm Tarlac-1 Solar Farm § Solar Philippines Calatagan Corporation has been § Solar Philippines Tarlac Corporation has been operating operating the 63.3 MW Batangas-1 Solar Farm since 2016, the Tarlac-1 Solar Farm since 2019, with 100 MW currently SP’s first so
Slide 11: Will there be enough demand for 10 GW of solar?
Will there be enough demand for 10 GW of solar? v DOE's RPS sets floor of 35% RE by 2030, translating to over 20 GW if incremental RE is met by solar v Shortage expected as existing supply depletes, new supply is delayed, and none can be added as fast as solar v 10 GW of solar would serve roughly 13
Slide 12: Solar in the PH is constrained less by demand than supply
Solar in the PH is constrained less by demand than supply v Lantau forecasts near-term prices to average PhP5.4/kWh in Luzon through 2026 as driven by robust demand; structural changes in the supply mix; and lack of near-term large-scale baseload supply additions; decreasing only when new supply lat
Slide 13: Can SPNEC deliver this much supply of solar?
Can SPNEC deliver this much supply of solar? v 2015-2021: Consolidating land, SESC's, SIS’s v 2022-2023: Complete payments for lands, then land conversion v Aim to create supply of solar sites in the Philippines, which are of limited supply and increasing demand 2015 2016 2017 2018 2019 2020 2021 20
Slide 14: For questions, email [email protected]
For questions, email [email protected] 14