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© Copyright 2013, First Solar, Inc. First Solar FuelSmart™: Powering Energy Security Dr Raed Bkayrat, VP Business Development, Saudi Arabia.

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Presentation on theme: "© Copyright 2013, First Solar, Inc. First Solar FuelSmart™: Powering Energy Security Dr Raed Bkayrat, VP Business Development, Saudi Arabia."— Presentation transcript:

1 © Copyright 2013, First Solar, Inc. First Solar FuelSmart™: Powering Energy Security Dr Raed Bkayrat, VP Business Development, Saudi Arabia

2 2 © Copyright 2013, First Solar, Inc. First Solar at a Glance Driving innovation across entire value chain and plant solution Strongest Financial Stability & Bankability in the industry Facilitated approx. $9B USD worth of project financing Over 8GW installed worldwide and over 3GW contracted pipeline Founded in 1999 and publicly traded on Nasdaq (FSLR) Cost competitive with conventional energy sources today

3 3 © Copyright 2013, First Solar, Inc. site: San Luis Obispo, USA size: 550MW owners: MidAmerican Energy Holdings Company TOPAZ SOLAR FARM

4 4 © Copyright 2013, First Solar, Inc. The First Solar Advantage = More Value & Less Risk = More Cost & More Risk Other PV Providers’ Model First Solar’s Model

5 © Copyright 2013, First Solar, Inc. Making the Case for Fuel Replacement

6 6 © Copyright 2013, First Solar, Inc. Solar is Less Expensive than Diesel PV electricity prices have reduced over 50% Sources: Diesel Pricing US Energy Information Administration; Solar Pricing: DOE, Lawrence Berkley National Laboratory Diesel prices remain highly volatile and have steadily increased Small PV System Median Installed Price 2003–2012WTI Crude Oil Prices 2003–2013

7 7 © Copyright 2013, First Solar, Inc. Solar is Cost Competitive with Conventional Energy Sources Today Sources: Coal and Nuclear: Bloomberg New Energy Finance LCOE Update: Q2 2013; Gas Combined Cycle, Gas Peaking, and Diesel: Lazard LCOE Sensitivity Analysis June 2013; First Solar: Internal data. (a) Does not include cost of carbon capture. (b) NG = natural gas. LNG = liquefied natural gas. Data assumes natural gas prices of $10 in Northern Europe and $18 in Japan (all in US$ per MMBTU). (c) Assumes diesel prices of $3.00 for India, $4.30 for Australia, and $7.00 for Northern Europe (all in US$ per gallon). Diesel assumes a high end capacity factor of 30% representing intermittent utilization and low end capacity factor of 95% representing base load utilization, O&M cost of $15 per KW/year, heat rate of 10,000 BTU/KWh and total capital costs of $500-$800 per KW of capacity. a b b c Gas Combined Cycle

8 8 © Copyright 2013, First Solar, Inc. PV is Highly Compatible with High Ambient Temperatures Thermal energy output decreases when PV energy output increases

9 9 © Copyright 2013, First Solar, Inc. PV Hybrid Systems combine PV solar generation with a fossil fuel engine generator to reduce fuel consumption and save costs. Solution: The PV Hybrid Mid Speed Engine Low Speed Engine Combustion TurbineHigh Speed Engine

10 10 © Copyright 2013, First Solar, Inc. Operate as a secondary power source Will not replace existing thermal infrastructure/fleet Are commercially viable due to operational fuel savings alone First Solar FuelSmart™ Hybrid Systems

11 11 © Copyright 2013, First Solar, Inc. First Solar FuelSmart™ Benefits

12 12 © Copyright 2013, First Solar, Inc. First Solar FuelSmart™ Benefits —Reduces fuel consumption —Saves fuel costs —Mitigates fuel price volatility risk —PV is highly scalable and repeatable —Allows for phased implementation —Reduces technical and financial risk

13 13 © Copyright 2013, First Solar, Inc. First Solar FuelSmart™ Benefits —Reduces fuel consumption —Reduces imports and increases energy independence —Reduces fuel transportation and logistics —Reduces thermal plant operation time —Extends asset life —Increases redundancy —Reduces O&M

14 14 © Copyright 2013, First Solar, Inc. First Solar FuelSmart™ Benefits —Increases potential revenue via trading credits —Reduces CO 2 emissions and noise —Contributes to positive community and PR potential —Aids in overcoming regulatory boundaries for additional capacity for brownfield expansion

15 © Copyright 2013, First Solar, Inc. How First Solar FuelSmart™ Works

16 16 © Copyright 2013, First Solar, Inc. How It Works – Typical Day

17 17 © Copyright 2013, First Solar, Inc. How It Works – Typical Day

18 18 © Copyright 2013, First Solar, Inc. How It Works – Typical Day

19 19 © Copyright 2013, First Solar, Inc. How It Works – Typical Day

20 20 © Copyright 2013, First Solar, Inc. How It Works – Typical Day

21 21 © Copyright 2013, First Solar, Inc. How It Works – Typical Day

22 22 © Copyright 2013, First Solar, Inc. How It Works – Typical Day

23 23 © Copyright 2013, First Solar, Inc. How It Works – Typical Day

24 24 © Copyright 2013, First Solar, Inc. How It Works – Typical Day

25 25 © Copyright 2013, First Solar, Inc. How It Works – Typical Day

26 26 © Copyright 2013, First Solar, Inc. Key Takeaways Solar is cheaper than diesel. With fixed pricing and no fuel- price volatility, solar represents a meaningful value proposition for anyone burning liquid fuel as their primary energy source. Think of solar as a source of fuel, not just additional generation capacity. PV hybrid systems are designed to operate as a secondary power source to reduce fuel consumption and are not intended to replace the existing thermal infrastructure. First Solar’s FuelSmart™ solutions effectively combine photovoltaic (PV) solar generation with a fossil fuel engine generator to reduce fuel consumption and save costs.

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