SESSION C ENBW'S OFFSHORE WIND PROJECTS IN GERMANY - WINDFORCE

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SESSION C ENBW'S OFFSHORE WIND PROJECTS IN GERMANY - WINDFORCE
Session C
EnBW’s offshore wind projects in
Germany ›

Stefan Kansy
director new projects, power generation
Bremerhaven, September 03, 2020
SESSION C ENBW'S OFFSHORE WIND PROJECTS IN GERMANY - WINDFORCE
EnBW at a glance

Number 3 utility in Germany1                                                              Active in all relevant RE technologies

5.5   M                   23,000                  13  GW                                  878MW
                                                                                          onshore wind in
                                                                                                                179    MW
                                                                                                                PV in operation
customers                 employees               generation portfolio
                                                                                          operation

Turnaround achieved 1y earlier than planned                                               Ambitious 2025 build-out targets

 €19b                          €2.4b                                                      2.0GW+                2.5GW
                                                                                                                onshore wind
                                                                                                                                   700
                                                                                                                                   PV
                                                                                                                                      MW
revenue                        Adj. EBITDA                                                offshore wind

             Electricity
                                                                                                            Sales                   Renewable
                                  Trading/            Transmission/
                  Generation
                                procurement            distribution
                                                                                Sales                                               Energies

             Gas
                                                                                                                                    Generation
            Import contracts/
                              Storage
                                             Trading/portfolio   Transport/
                                                                                  Sales                     Grids                   & Trading
              infrastructure                  management         distribution

1. Figures 2019
                                                                                                                                                 PAGE 2
SESSION C ENBW'S OFFSHORE WIND PROJECTS IN GERMANY - WINDFORCE
EnBW is undergoing substantial structural change

                          2,4        2,4               Profit shares 2020

          Generation &               0,3       -80%
                                                             15%
          Trading
                          1,2        0,7       +250%
          Renewable
                                                             30%
          Energies
                          0,2
          Grids                      1,0       +25%          40%
                          0,8

          Retail                     0,4       +100%         15%
                          0,2
Adjusted EBITDA in bn.€   2012   Target 2020

                                                                            3
SESSION C ENBW'S OFFSHORE WIND PROJECTS IN GERMANY - WINDFORCE
4 OWFs in operation, 1 in development
& project pipeline in Taiwan

945 MW                          Own engineering & O&M                                               25% of ~2 GW
Installed capacity 2015                                                                              Sites with EIA in Taiwan
                                 Office in Hamburg

900 MW
                                 O&M harbors in Emden & Barhöft
                                                                                                    OW subsidiaries in
                                 Centralized control center for all RE in Barhöft                    Taiwan: EnBW Asia-Pacific
In development
                                                                                                     US: EnBW North America

                                                                                                     France: VALECO

                                   EnBW He Dreiht: ~900 MW
                                                                                                               Barhöft

EnBW Hohe See: 497 MW                                                                               Rostock
EnBW Albatros: 112 MW
— 71+16 = 87 x Siemens SWT 7.0-154 on
  monopile foundations
— Commissioned in 2019                                                              Hamburg
— Shareholders: EnBW (~50.1%) &
  Enbridge Inc. (~49.9%)
                                                                EnBW Baltic 1: 48.3 MW                         EnBW Baltic 2: 288 MW
                            Emden
                                                                — 21 x Siemens SWT 2.3-93                      — 80 x Siemens SWT 3.6-120
                                                                — Commissioned in 2011                         — Commissioned in 2015
                                                                — Shareholders: EnBW (~50.1%) &                — Shareholders: EnBW (~50.1%) &
                                                                  19 municipal utilities (~49.9%)                Macquarie, PGGM and ÄvWL (~49.9%)

            in operation        in operation / recently commissioned         development stage

                                                                                                                                                 PAGE 4
SESSION C ENBW'S OFFSHORE WIND PROJECTS IN GERMANY - WINDFORCE
OWF Hohe See & Albatros
overview

                          5
SESSION C ENBW'S OFFSHORE WIND PROJECTS IN GERMANY - WINDFORCE
OWF Hohe See & Albatros
origination

                          6
SESSION C ENBW'S OFFSHORE WIND PROJECTS IN GERMANY - WINDFORCE
OWP Hohe See & Albatros
Offshore Wind Portfolio der EnBW in Deutschland

                                                  7
SESSION C ENBW'S OFFSHORE WIND PROJECTS IN GERMANY - WINDFORCE
OWP Hohe See & Albatros
Offshore Wind Portfolio der EnBW in Deutschland

                                                  8
SESSION C ENBW'S OFFSHORE WIND PROJECTS IN GERMANY - WINDFORCE
OWP Hohe See & Albatros
Offshore Wind Portfolio der EnBW in Deutschland

                                                  9
SESSION C ENBW'S OFFSHORE WIND PROJECTS IN GERMANY - WINDFORCE
10
OWP Hohe See & Albatros
Offshore Wind Portfolio der EnBW in Deutschland

                                                  11
OWF Hohe See & Albatros

                          12
OWP Hohe See & Albatros
Offshore Wind Portfolio der EnBW in Deutschland

                                                  13
OWF He Dreiht – a next level challenge
developing a subsidy free OWF

location
                                                                         Hohe See /
› exclusive economic zone / German North Sea,                            Albatros
  adjacent to OWF Hohe See und Albatros
› 90 km distance to coast, 63 km2 area              Hohe See/Albatros
                                                                           He Dreiht
technology & site conditions
› 900 MW capacity
› WTG on monopiles                                      He Dreiht
› no OSS required                                                                      Hamburg
› 39-40 m water depth, homogeneous sands
›  10,1 m/s wind speed                                       Emden

grid connection                                    in development   in operation
› direct connection to 900MW BorWin5 (TenneT)
› grid connection in 2025
project time schedule
› FID beginning 2023 (early works prior to that)
› commissioning in 2025
› 25 years of operation

                                                                                          14
OWF He Dreiht – project time schedule
  development & implementation

                         2020           2021            2022        2023                2024         2025
permit
ITT-phase
                         FOU design   WTG   IAG FOU/WTG T&I    FOU production

design / certification
FID
production
installation                                                                    FOU
                                                                                      IAG
                                                                                               WTG

commissioning
                                                                                                            assumed
grid connection
partnering

                                 development                               implementation
                                    til FID                                    til COD

                                                                                                            15
OWF He Dreiht - selected challenges
financial and technical implications

› financial implications of a zero-subsidy bid:

  −full market exposure - no conventional PF
  −(aligning) assumptions re wholesale electricity prices

  −PPA markets – maturity, appetite/liquidity

› technical aspects:

  −XXL-MP as foundations for next generation → T&I, noise mitigation
  −assumptions re global blockage effect
  −66kV direct connection of OWF to TSO converter

                                                                       16
He Dreiht – grid connection
conventional setup vs. 66kV direct connection

      conventional setup                        66kV direct connection
      (e.g.OWF Hohe See)                           (OWF He Dreiht)

              66 kV AC
                                                      66 kV AC

                                   EnBW
             155 kV AC

                                    ÜNB

                                                                      EnBW

                                                                      ÜNB

                         DC                                      DC

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Nezzy² -
floating offshore
wind turbine
generator
technical conception of nezzy²
by mounting 2
nezzy² motivation   WTG reduction of

                         height
                         weights
                          loads
development steps

2016               2018             2018               2020                     2021/22

nezzy 1:36         nezzy 1:10       nezzy² 1:36        nezzy² 1:10              nezzy² 1:1
in Cork, Ireland   in Kure, Japan   in Cork, Ireland   in Lower Saxony (Lake)   in China
                                                       und Baltic Sea
Thank you & stay healthy.

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