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PNE GROUP PRESENTATION, MAY 2021 PNE – PURE NEW ENERGY | PNE Group Presentation | May 2021
DISCLAIMER
This presentation is for information purposes only and does not constitute a public offer or invitation to subscribe for or purchase any
securities of PNE AG and neither this presentation nor anything contained herein shall form the basis of any contract or commitment
whatsoever. This presentation is being furnished to you solely for your information and may not be reproduced or redistributed to any
other person in whole or in part.
All information contained herein has been carefully prepared. Nevertheless, we do not guarantee its accuracy or completeness.
The information contained in this presentation is subject to amendment, revision and updating. Certain statements contained in this
presentation may be statements of future expectations and other forward-looking statements that are based on the company’s current
views and assumptions and involve known and unknown risks and uncertainties. Actual results, performance or events may differ
materially from those in such statements as a result of, among others, factors, changing business or other market conditions and the
prospects for growth anticipated by the management of the Company. These and other factors could adversely affect the outcome and
financial effects of the plans and events described herein. The Company does not undertake any obligation to update or revise any
forward-looking statements, whether as a result of new information, future events or otherwise.
The distribution of this document in other jurisdictions may be restricted by law and persons into whose possession this document
comes should inform themselves about, and observe, any such restrictions. Any failure to comply with these restrictions may constitute a
violation of applicable Securities Laws.
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| PNE Group Presentation | May 2021 2
AGENDA
I.
II.
III.
| PNE Group Presentation | May 2021 3
PNE – FULL OF ENERGY
» Pioneer in wind energy with > 25 years of industry experience
» Active in 13 countries on 4 continents with > 450 employees
We develop and
» Leading developer of wind farms in Germany implement projects and
solutions for the planning,
» International O&M manager with > 1,700 MW construction and
operation of renewable
» > 5,500 MW of renewable energy projects realized power plants.
» > € 12bn of investments initiated
» Clean energy for > 3.3m households
» Attractive Wind & PV pipeline of > 6,200 MW / MWp
» Build-up of own generation portfolio of up to 500 MW by 2023
| PNE Group Presentation | May 2021 4
gettyimages
PIONEERS IN THE RENEWABLE ENERGY SECTOR
Markus Lesser
Chairman of the Board Jörg Klowat
(CEO) Chief Financial Officer
(CFO)
» CEO since May 2016 (COO 2011–2016) » CFO since April 2011
» Industry experience since 2000 » Industry experience since 1999
» Project Development, Implementation, International markets, » Finance and Accounting, Controlling, Risk Management,
Sales, M&A, Procurement, Communication/IR Legal, Human Resources
» Associations: Member of the Board BDEW, Member
of the Board WAB, Chairman of Fachgruppe Energie
und Umwelt des Wirtschaftsrates in Lower Saxony
| PNE Group Presentation | May 2021 5
ROBUST BUSINESS MODEL THROUGH INTEGRATION
ALONG THE VALUE CHAIN
approx. 3 – 6 years 20 years
Sale*
Development Financing Construction Service
IPP
» Acquisition of site » Financial analysis » Grid connection » Utility » Technical and
» Analysis (wind / sun) » Legal concept » Infrastructure » Infrastructure fund commercial
management
» Selection of » Sales/marketing » Assembly » Insurance companies
equipment » Project financing » Start-up of operations » IPP
» Permits
Power-
Wind PV Storage
to-X
*sale as turnkey project or project right, as single project or project portfolio
| PNE Group Presentation | May 2021 6UNIQUE TRACK RECORD
2012 2012–19 2016–17 2017 2017–21
OFFSHORE ONSHORE ONSHORE OFFSHORE ONSHORE
GODE WIND International project
Various project sales Wind farm portfolio ATLANTIS I
Pipeline Deal sales
ØRSTED INVESTORS ALLIANZ VATTENFALL PROJECTS
Gode Wind ~924 MW » KGAL ~142MW Atlantis I ~584 MW » France >100MW
» CEE
» €142m received » CHORUS » Enterprise Value (EV) > » Low double-digit €m » Poland ~174MW
» Further milestone payment » ALLIANZ €330m payment received
of up to €14.7m expected » ENBW » Sales price in 2016 » Further milestone payment » Sweden ~200MW
until 2022* » ENEL €103m for 80% of up to € 4.6m expected
» JOHN LAING » Subsequent sale price of until 2024* » USA ~80MW
Borkum Riffgrund ~ 760 MW » PATTERN ENERGY €21m in 2017 and increase
» QUAERO CAPITAL of EV to > €360m through
» STADTWERKE MÜNCHEN optimisation of financing
* already booked as receivable
| PNE Group Presentation | May 2021 76.2 GW PROJECT PIPELINE PROVIDES
EXCELLENT VISIBILITY
EUROPE
» Onshore wind: in MW / MWp*
Large, high-quality project
D 1,817 / 220
pipeline secures stable project
F 535 / 25
output UK 43
I 40 / 42
CANADA
» PV: P 369 / 55
505 MW /
RO 156 / 112
First projects under 10 MWp*
S 0
development in Germany, USA TR 700
USA, Romania; 433 MW /
further internationalisation 210 MWp*
planned PANAMA
340 MW*
* numbers as of March 31, 2021
SOUTH AFRICA
650 MW*
| PNE Group Presentation | May 2021 8AGENDA
I.
II.
III.
| PNE Group Presentation | May 2021 9STRONG GROWTH OF RENEWABLE ENERGY MARKET AHEAD
Key growth drivers: World electricity generation (GWh/yr)
» Global commitment to reduce global warming and ambitious 70.000.000
political targets (e.g. COP21)
60.000.000
» Renewable sourced electricity is key for decarbonisation/
CO2 reduction 50.000.000
» Growing demand for renewable energy driven by economic 40.000.000
growth and geostrategic reasons 30.000.000
» Competitive renewable energies due to heavily decreasing
20.000.000
technology costs
» High demand especially for premium projects in low interest 10.000.000
environment 0
» Increasing power prices driven by the nuclear phase-out 1990 2000 2010 2020 2030 2040 2050
(Germany, France) and increasing prices for CO2 certificates Coal Oil Gas
reduce dependency on subsidies Nuclear Other renewables Hydro
Solar Wind onshore Wind offshore
Source: DNV GL – Energy Transition Outlook 2018
| PNE Group Presentation | May 2021 10NEW OPPORTUNITIES THROUGH INTEGRATION
OF ENERGY MARKETS
Maximising project value through:
Battery storage
» Focus on value chain after power generation
» Combination of wind, PV and storage
E-Mobility Natural gas drive
» Creating a new sales channel through the integration
of storage solutions (e.g. Power-to-Gas)
» Offering solutions to bypass grid bottlenecks Solar PV Wind Power grid Electrolysis Methanation Gas grid
Pump and Hydrogen
compressed drive
air storage
Power-to-heat Households, businesses Gas and steam
and industry power plants
Cogeneration
Electrocity flow CO2 power plants
Hydrogen Artificial natural gas
Heat supply (generated through green electricity)
Source: e/m/w 2017
| PNE Group Presentation | May 2021 11DEVELOPING INTO CLEAN ENERGY SOLUTION PROVIDER
WITH “SCALE UP“ PROGRAMME
TECHNOLOGY OPERATIONS
- Wind - Power Generation
- PV - Smart Energy
- Storage Supply Management
- Power-to-Gas
TECHNOLOGY OPERATIONS MARKETS SOLUTIONS/
- Wind - Power Generation - Established Markets CONSULTING
- Emerging Markets - Engineering &
Financing Solutions
MARKETS SOLUTIONS/
CONSULTING - Repowering
- Established
Markets - O&M
- Repowering
- O&M
S »
C »
A »
L »
E »
| PNE Group Presentation | May 2021 12STEP BY STEP EXECUTION OF STRATEGIC AGENDA
Processes & Tools
» Profit center structure introduced
Products » Newly defined processes
» IT structure unified
» Newly defined and
Organisational &
financial framework expanded product range
» Financing optimised: € 100m corporate bond paid back, € 50m
Strategy corporate bond placed
» Takeover of remaining WKN stake, transformation from AG to GmbH,
cross-company standardisation of the organisational structure
| PNE Group Presentation | May 2021 13SCALE UP – IMPLEMENTATION IS PROGRESSING
2021 2023
2020 2022
2019
2018 » 500 MW own
2017 » Expansion of own
» Start of expansion power generation
» Development of generation portfolio portfolio in
of own generation
» Completion of project pipeline in » Add further new operation
» Start of ramp-up power portfolio
ramp-up phase the 1st new market products/services
phase » Completion and » Finalisation of
» First new » 1st PV project in » Product range of SCALE UP
sale of 1st
» Structures/
People/Processes
products/services
available
development developed project * different Hybrid
Power Plants is in
» Provide additional in new markets
» Implement Smart » First revenues with place
services and » 1st PPA
Development new products and expand consulting (Power Purchase » Market entrance 3rd
Team Hamburg services solutions Agreement) in market
» Start build-up of » Partnering foreign markets
» Expansion of » Identify remaining
200MW portfolio
» Improvement of Offshore » Market entrance white spots in
financing structure Development 2nd market regions, value chain
and products
» Sale of 1st Hybrid
project *
RAMP-UP TRANSFORM EXECUTE DELIVER
* Postponed due to COVID19-pandemic
| PNE Group Presentation | May 2021 14AGENDA
I.
II.
III.
| PNE Group Presentation | May 2021 15DYNAMIC START TO FY 2021
» Good operational progress in Q1 2021, despite effects of Sold,
put in operation,
COVID19-pandemic
under construction
» 355.4 MW sold, put into operation or under construction
» Expansion of own generation portfolio makes progress: 355.4
» 16.8 MW put in operation in Q1 2021 MW
» further projects with approx. 98 MW under construction 47,8
Total pipline
Wind onshore & PV
Own wind
generation portfolio
» Scale Up – Implementation fully on track
» Investments are ongoing, e.g. in international markets, PV and 6,262 151.6
MW / MWp MW
services (PPA services, safety technology, on-demand night-
time marking, etc.) and start to pay off Projects
» PV pipeline expanded further to 674 MWp within one year under construction
(Q1 2020: 132 MWp)
» Number of employees increased to 460 (Q1 2020: 432)
328.9
MW
| PNE Group Presentation | May 2021 16WELL-FILLED PROJECT PIPELINE WIND ONSHORE
Sold/ » Total pipeline grows to 5,588 MW (Q1 2020: 5,125 MW)
Country I – II III IV Total MW
Services » Highest level ever of projects in permitting phase in
Germany 1,270 449 98 1,817 0 Germany and France with 713 MW
France 271 264 0 535 0
United Kingdom 43 0 0 43 0 Germany
Italy 40 0 0 40 0 » Increase of German pipeline to 1,817 MW (Q1 2020: 1,664 MW)
Canada 505 0 0 505 0 » Permitting procedures are still slow and delivery periods of wind
Panama 340 0 0 340 0 turbines are being extended
Poland 310 0 59 369 0 » Construction of project Erfurt Ost (5.5 MW) completed
Romania 54 102 0 156 0 » Projects Langstedt (12.6 MW / 4.2 MW for third party) and
South Africa 620 30 0 650 0 Lentföhrden (8.4 MW) completed for own generation portfolio
Sweden 0 0 0 0 173 » New permits received for 30.4 MW
Turkey 629 71 0 700 0 Sweden
USA 266 167 0 433 0 » Construction management for Malarberget (113 MW)
Total 4,348 1,083 157 5,588 173
» Construction of wind farm Hultema (59.4 MW) started in Q1 2021
Phase I – II = Exploration & Development As of March 31, 2021
Poland
Phase III = Planning
Phase IV = Implementation till handover » Construction of projects Krzecin (19 MW) and Kuslin (40 MW)
Sold/Services = sold, but construction management services by PNE started Q1 2021
| PNE Group Presentation | May 2021 17RAPID GROWTH OF PV PROJECT PIPELINE CONTINUES
Country I – II III IV Total MWp » 3 new markets (France, Canada, Poland) with 90 MWp
Germany 220 0 0 220 added to PV pipeline in Q1 2021
France 25 0 0 25 » Total PV pipeline grows to 674 MWp (Q1 2020: 132 MWp)
Italy 42 0 0 42
Improved conditions for PV projects
Canada 10 0 0 10
Poland
» Photovoltaic installations have become increasingly cost-effective
55 0 0 55
Romania 112 0 0 112 and thus more marketable in the area of electricity generation
USA 210 0 0 210 » Legal and economic framework conditions for the development of
Total 674 0 0 674 photovoltaic projects are in place in many countries
Phase I – II = Exploration & Development As of March 31, 2021 Additional markets and projects are being evaluated
Phase III = Planning » Numerous markets are currently being examined in detail and the
Phase IV = Implementation till handover first rights are being secured
» Particular attention will initially be paid to Germany, France, Italy,
Romania and the USA as well as other international markets
| PNE Group Presentation | May 2021 18EXPANSION OF OWN GENERATION PORTFOLIO CONTINUES
» Target to increase own generation to up to 500 MW by Project MW State Status
2023 Kührstedt-Alfstedt 43.2 Lower Saxony in operation since Q4 2017
Gerdau-Repowering 21.6 Lower Saxony in operation since Q1 2019
» Objective of stabilising sales and earnings at a high level
Schlenzer 6.5 Brandenburg in operation since Q2 2019
» 151.6 MW of onshore wind projects currently in operation
Neuenwalde 7.2 Lower Saxony in operation since Q4 2019
» Further approx. 98 MW intended for portfolio under
Kittlitz 17.2 Brandenburg in operation since Q4 2019
construction
Laubuseschbach 3.0 Hesse in operation since 2002
» Hidden reserves accumulated in portfolio of more than
Pülfringen 6.5 Baden-Würt. in operation since 2002
€ 85m in total
Erfeld 2.6 Baden-Würt. in operation since 2002
Papenrode 22.3 Lower Saxony in operation since 2002
Kleinbüllesheim 4.7 NRW in operation since Q4 2020
Langstedt 8.4 Schleswig-Holstein in operation since Q1 2021
Lentföhrden 8.4 Schleswig-Holstein In operation since Q1 2021
Total in operation* 151.6
5 projects ~ 98 under construction
* as of March 31, 2021 Total ~ 250
| PNE Group Presentation | May 2021 19CONTACT
Rainer Heinsohn
Head of Communication
Tel: +49 (0) 4721 – 718 - 453
Fax: +49 (0) 4721 – 718 - 373
E-Mail: rainer.heinsohn@pne-ag.com
Christopher Rodler
Head of Investor Relations
Tel: +49 (0) 40 879 331 14
Fax: +49 (0) 4721 – 718 - 373
E-Mail: christopher.rodler@pne-ag.com
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