Gunkul Engineering Plc.
Opportunity Day Q1/2015
June 17, 2015
10 June 2015
Gunkul Engineering Plc.
Opportunity Day Q1/2015
June 17, 2015
10 June 2015
Agenda
Strictly Private & Confidential
1. Strategic Direction
2. Company Overview
3. Financial
4. Growth Strategy
2
1. Strategic Direction
3
Section 1: Strategic Direction
Past Present & Future Direction



Mostly green field
Mostly Thailand
Partially divest so as
to reinvest in higheryield opportunities




JV & green field
Asian countries
Position as a
developer—seek for
higher yield projects,
develop and partially
divest so as to buildup
balance sheet
initiation of new energyrelated business
FUTURE
PRESENT
PAST
Strictly Private & Confidential

Continuous capacity
ramp-up

Stable income from
diversified power
plant portfolio

further earning uplift
from EPC business
and initiation of
energy-related
business
4
Section 1: Strategic Direction
Strategy
Strictly Private & Confidential
GROWTH

Capacity ramp-up of energy

Line-up renewable energy
construction work

Expansion in Asia
DISCIPLINE

Cash return on
investment with hurdle
of ~15-20%

Dividend payout policy
of > 40%
5
2. Company Overview
6
Section 2: Company Overview
GUNKUL– Leading Integrated Energy Player
Strictly Private & Confidential

One of the largest medium- to high-voltage electrical equipment manufacturer and supplier (over 5,000 product items)

Thailand's no. 1 one-stop provider for renewable power plant EPC (Engineering, Procurement and Construction)

Own power plants. positioned as a power developer as a shortcut to become leading power producer

Set up our
own
manufacturer
Founded in 1982
as an electrical
equipment trader
1982

Expanded business to
neighboring LVMC
countries
Found the first offshore
office in Myanmar
1992
2014 Earning
Breakdown1
1997
2009
Producer
29%
T&M+EPC
68%
Trading and
Manufacturing

Expand into renewable energy
power producer business

Possess a current renewable
energy pool of 228 MW (58 MW
of solar and 170 MW of wind)
2017F Earning
Breakdown
Since 2010
4 Business
Units
O&M
Power 3%
Remark: (1) This revenue includes dividend
income earned from the JV companies
operating solar power plant businesses
Entered into
renewable
energy EPC
business by
achieving supply
and set up the
first wind turbine
of Thailand to
EGAT
Power Producer
4
O&M
3
EPC
2
Trading and
Manufacturing
1
O&M T&M+EPC
15%
5%
Power
Producer
80%
7
Section 2: Company Overview
Business Structure
Strictly Private & Confidential
GUNKUL
Group
Public
Shareholders
40%
60%
GUNKUL PCL.
100%
51%
G.K.Assembly
100%
40%
G.K.Power
Products
100%
K.N.P.Supply
74.99%
G-Power Source
100%
100%
Gunkul LED
100%
Trading and
Manufacturing &
EPC Business
Remark:
(1)
(2)
GUNKUL CHUBU
Powergen (1)
100%
the remaining stake of 49% of GCPG is
held by Chubu Electric Power Gem B.V.
the 60% stake of GPS is held by The
Electricity Generating PCL (EGCO)
(2)
25.01%
WHA Gunkul Green Solar Roof
1,3,6,10,17
100%
Gunkul Solar Roof 1
NK Sola
100%
Gunkul Solar Power 2
Wind Energy
Development
100%
Solar Energy Society
100%
Siam Gunkul Solar Energy
51%
Gunkul Myanmar Central
Power
Greenovation Power
Korat Wind Energy
Power Producer
Business
8
Section 2: Company Overview
Business Structure
Strictly Private & Confidential
3
Power Producer BU Flow
1 Trading and Manu. Business Flow
Manufacturer
GKA
Distributor
Customer
GLED
G-Power Source
Solar 1.0 MW
NK Sola
Wind 60.0 MW
Wind Energy Development
Wind 60.0 MW
Greenovation Power
Wind 50.0 MW
Korat Wind Energy
Solar Rooftop
636.48 kWp
WHA Gunkul Green Solar Roof 1
Solar Rooftop
832.32 kWp
WHA Gunkul Green Solar Roof 3
GCPG
Solar Rooftop
832.32 kWp
WHA Gunkul Green Solar Roof 6
GPS
Solar Rooftop
997.56 kWp
WHA Gunkul Green Solar Roof 17
Solar Rooftop
264.32 kWp
Gunkul Solar Roof 1
Solar Rooftop
538.56 kWp
Gunkul Solar Power 2
Solar Rooftop
979.20 kWp
WHA Gunkul Green Solar Roof 10
Solar Rooftop
723.84 kWp
Solar Energy Society
Solar Rooftop
1,872 kWp
Siam Gunkul Solar Energy
GUNKUL
Private
Entities
Electricity Authority
EPC Business Flow
Main Contractor
GKA
External
Manufacturer
Solar 26.0 MW
Foreign
Gov’t
2
GKP
GUNKUL CHUBU Powergen
Gov’t
External
Manufacturer
Supplier
Solar 30.9 MW
KNP
GKP
Power Plant
GUNKUL
Customer
Internal/
External Power
Producer
Gas Engine
25 MW
9
Gunkul Myanmar Central Power
Section 2: Company Overview
1
Trading and Manufacturing Business
Strictly Private & Confidential
We offer a wide range of products and services from upstream to downstream of the electricity
supply system (over 5,000 electricity items)
Transmission lines:
Cable and accessories
Fuse and switches
Hardware and connectors
Insulators
Lightning protection
Maintenance equipment
Tools and instruments
Electricity plants:
Wind turbine
components
Solar panel components
Substation:
Battery and chargers
Capacitors
Grounding
Maintenance equipment
Meters
Tools and instruments
Transformers
Low voltage lines:
Capacitors
Explosion proof products
Fuses and switches
Grounding
Hardware and connectors
Insulators
Lightning protection
Meters
Preformed
Street lighting and control
Telephone hardware
Distribution lines:
Cables and accessories
Capacitors
Fuse and switches
Grounding
Hardware and
connectors
Insulators
Lightning protection
Live part covers
Maintenance equipment
Meters
Preformed
Tools and instruments
Transformers
Highlight in-house products
Cutout
Arrester
Disconnecting Switch
SF6 Gas switch
Low-Voltage Switch
10
Section 2: Company Overview
2
EPC Business
Strictly Private & Confidential
With more 30-year experience in the electrical system and its integrated business model, we are well
positioned to offer one-stop services for constructing renewable power plants
Business Partner
Project Reference
Project Owner
1) Gunkul Chubu Powergen (Phase 1)
2) G-Power Source (Phase 1)
3) Gunkul Chubu Powergen (Phase 2)
4) G-Power Source (Phase 2)
5) NK Power Sola
6) CK & Sun Solar Power Plant
7) Solarta Solar Power Plant
8) Bangchak Solar Energy (NSM)
9) Bangchak Solar Energy (CPM)
10) Solar Rooftop Projects
Total
* Installation Capacity
MW*
Status
3.3
22.8
34.1
7.6
1.2
8.8
8.8
12.5
12.5
7.49 / 3.32
Completed
Completed
Completed
Completed
Completed
Completed
Completed
Completed
Completed
Completed
122.6*
11
3
Power Plant Business : Locations
Strictly Private & Confidential
Solar
26 MW Capacity
Solar
30.9 MW Capacity
Project 1 (Operated since 2011)
Capacity: 3.0 MW and 4.4 MW
Location: Chondan Petchaboon
Project 1-3 (Operated since Q12012)
Capacity: 19.5 MW
Location: Tasang, Nakorn - Sawan,
Takeed, Nakorn –Sawan, Dong-Korn,
Chainat
Project 2 -5 (Operated since 2013)
Capacity: 23.5 MW
Location: Petchaboon, Pichit, Nakorn
Nayok, Bung Samphan, Petchaboon
Project 4 (Operated since Feb 2013
Capacity: 6.5 MW
Location: Bung Samphan, Petchaboon
Wind
60 MW Capacity
Gas Engine
50 MW Capacity
Project 1 (Under Development)
Capacity: 60 MW
Location: Nakorn Ratchasima
Project 1 (Operated since Nov 2013)
Capacity: 25.0 MW
Location: Rangoon, Myanmar
Wind
60 MW Capacity
Project 2 (Under Development)
Capacity: 25.0 MW
Location: Rangoon, Myanmar
Project 1 (Under Development)
Capacity: 60MW
Location: Nakorn Ratchasima
Solar
1 MW Capacity
Project 1 (Operated since Nov 2013)
Capacity: 1.0 MW
Location: Kanchanaburi
Total Capacity: 7.5MW
Location: Bangkok and Samutprakarn
Wind
50 MW Capacity
COD : 90.4 MW
Under Development: 226.75 MW
Total: 317.15 MW
Project 1 (Under Development)
Capacity: 50MW
Location: Nakorn Ratchasima
Solar
31.75 MW
Project 1 (Under Development)
Capacity: 31.75Mw
Location: Sendai Miyagi Japan
12
Section 2: Company Overview
3
Power Plant Business : key Info.
Strictly Private & Confidential
Key Information
Solar
Solar Farm
Project
Investment Costs
Technology
Selling Price
(Base Tariff+Ft)
Adder
Rooftop
Gas
Engine
~THB80–100 mm
~THB 60 mm
~ THB 70 mm
~ THB 35 mm
per MW
per MW
per MW
per MW
Thin Film CIS modules without
cadmium or Crystalline Silicon
Module
Crystalline Silicon
Module
Horizontal Wind Turbine
Gas Fired Engine
Peak* :THB 3.85 per kWh,
Off-Peak**: THB 2.04 per kWh
Ft***: THB 0.52 per kWh
Feed-in Tariff (FIT)
THB6.16 per kWh
for 25 years since COD
THB8.0 per kWh for 10 years
since COD
Peak: THB 3.68 per kWh
Off-Peak: THB 2.04 per kW
THB3.5 per kWh for 10 years
since COD
-
Year
Import Tax
9th
–
13th
~US$0.034 /kWh
Ft: THB 0.52 per kWh
Year 1st - 8th : 100%
BOI Tax
Exemption
Yearly Revenue
Wind Farm
-
Year 1st - 5th : 100%
: 50%
100% import tax exemption
~ THB 20 mm per MW
~ THB 8 mm per MW
~ THB 16 mm per MW
~ THB 7 mm per MW
* Peak : Mon-Fri
** Off Peak : Holiday
*** Ft :Fuel Adjustment Charge (at the given time)
13
Section 2: Company Overview
3
Power Plant Business : Gas-fired Engine Structure
Strictly Private & Confidential
Gunkul Engineering
PLC.
Myanmar Local
Partner
Gunkul Myanmar Power
(Hlawga) Pte. Ltd.
51%
60%
GKMCP I
COD: Nov. 2013
GKMCP II
SCOD : 2H 2015
49%
40%
14
Section 2: Company Overview
Progress on 170-MW Wind Farm
Strictly Private & Confidential
1
Land Site: fully secured
 Fencing Works : Done
 Land Boundary Measurement: Done
 IEE: Done
Site area;
- WED; 2106 Rai ( 832.41 Acre)
- GNP;1163 Rai (459.68 Acre)
- KWE;57 Rai (22.53 Acre)
2
License for 170 MW Wind Power Project:
(WED 60 MW , GNP 60 MW and KWE 50 MW)
fully secured
3
Wind Data Summary Report
GNP
WED
Site Area:
KWE
Site Area:
- Average wind speed (40 Months) at 100 m height: 5.6 m/s (WED mast 1) and 5.7 m/s (WED mast2)
- The long term wind speed at 100 m are 5.8 m/s (Mast HB1) and 5.9 m/s (Mast HB2)
- The long term wind speed at 125 m are 6.0 m/s (Mast HB1) and 6.2 m/s (Mast HB2)
15
3. Financial
16
Comparison of Revenue in 2011 – 2015F
Strictly Private & Confidential
Revenue Breakdown by Business Unit
Million Baht.
4,939
4,722
90
5,000
416
981
4,500
20
4,000
3,500
2,997
1,765
2,651
32
2,746
55
3,000
169
449
73
2,500
604
1,368
1,323
12
28
613
1,000
487
500
445
274
1,408
42
607
2,000
1,500
775
669
3,286
21
492
333
668
530
2011
Government
2012
Private
Foreign
2013
Electricity
Construction
2014
Operation & Maintain
2015 F
Disposal of Investment
1717
Revenue Breakdown Q1-2015 (YoY)
Strictly
Private
& Confidential
Strictly
Private
& Confidential
Breakdown by Business Unit
% Breakdown
Electric sales 0.3%
O&M 1.2%
Million Baht.
1,129
1,400
1,200
3
13
1,000
331
Q1-2014
TRADING
29%
331
1,129 MB
782
EPC 69%
800
600
Electric sales 3%
O&M 5%
210
782
400
4
10
200
132
10
Q1-2015
64
210 MB
64
132
Q1-2014
EPC
TRADING
EPC 31%
Q1-2015
O&M
Electric sales
TRADING
63%
1818
Revenue Forecast by Quarter in 2015
& Confidential
StrictlyStrictly
PrivatePrivate
& Confidential
Total Revenue (F) ≈ 4,930 Million THB
THB : Million
3,000
2,490
10
30
2,500
2,000
1,560
10
40
1,500
2,170
1,000
930
670
5
15
500
-
210
600
580
5
15
130
80
50
Q1
Q2(F)
280
EPC
Trading
Q3(F)
O&M
Q4(F)
Electric sales
1919
Revenues & Profit as of Mar 31, 2015
Strictly Private & Confidential
Revenue vs. Overall Gross Margin
Million Baht.
Net Profit vs. Net Profit Margin
Margin %
Included Gain From share divestment
5,000
25
24
24
4,016
4,000
24
23
23
3,000
2,446
22
1,963
23
2,344
GPG
GPS
divestment divestment
Million Baht.
35
900
22
2,000
31.37
22
21
706
1,000
21
783
Margin %
683
205
769.6
30
734
21
20
-
800
700
20
2011
2012
2013
25
2014
600
Rev.from Trading&Construction
Rev.from Manu.
Gross Margin(%)-RHS
535
Margin %
Million Baht.
1,200
1,003
25
26
19
17.49
16.15
26
1,000
400
15
25
25
800
24
300
10
24
600
400
20
500
23
22
123
200
123
86
3.35
22
21
Q1-2014
5
89
48
114
0
0
2011
Q1-2015
Rev.from Manu.
100
21
Rev.from Trading&Construction
200
23
22
357
Gross Margin(%)-RHS
Net Profit
2012
2013
Net Profit Margin (%)
2014
Q1-2015
Profit from operations
2020
Financial Flexibility
Strictly Private & Confidential
Liabilities
D/E Ratio
Million Baht.
Ratio
4,814
4.00
5,000
4,355
4,500
14
4,000
902
262
4,182
3.50
3,900
1,371
3,500
3.68
452
14
499
14
3.00
2.24
2.50
3,000
2.00
2,500
2,302
3,005
2,000
3,087
3,346
1.50
1.16
1.22
1,500
1.00
657
69
4
431
153
1,000
500
0.47
0.50
879
434
346
324
-
2011
AP
2012
2013
ST-trade related liabilities
2014
LT-int.bearing
Q1-2015
2011
2012
2013
2014
Q1-2015
Other liabilities
2121
Growth of Balance Sheet
Strictly Private & Confidential
Balance Sheet
Million Baht.
Total Asset 7,599.23
Total Asset 7,259.20
2,859.13
Current Asset
2,605.48
3,669.62
3,432.89
Non Current
Liabilities
512.34
466.62
4,740.10
4,653.72
Non Current Asset
Current
Liabilities
3,359.70
As of Dec 31,2014
3,417.27
Shareholders'
Equity
As of Mar 31,2015
2222
Profit sharing from GPS,GCPG and Rooftop JV (2013-2017F)
Strictly Private & Confidential
Million Baht.
350
300
270
274
Y2014
Y2015(F)
290
290
Y2016(F)
Y2017(F)
250
200
150
150
100
50
-
Y2013*
* Partially COD in 2013
2323
Project Milestones vs Expected Revenue
Strictly Private & Confidential
THB : Million
2015
Q1
Q2
2016
Q3
Q4
Q1
Q2
10MW
50MW
2017
Q3
Q4
Q1
Q2
Q3
Q4
WED
90MW
Project Schedule
New Solar
60MW
GNP
50MW
KWE
SCOD
32MW
Japan # 1
WED
Expected
Revenue form EPC
* EPC Trading
*
NEW SOLAR
GNP
KWE
Total
130 170
220 1,750
130
350 2,050
220
400
190
100
910
110
290
160
560
Expected
Revenue after COD
NEW SOLAR
GNP
KWE
JAPAN
Total
-
100
100
200
80
80
100
100
1,190
3,310
WED
70
140
140
350
-
-
40
200
240
240
200
440
240
200
160
600
2,110
50
50
-
-
240
200
240
200
80
960
240
200
240
200
80
960
150
240
200
240
150
830
240
200
240
200
880
240
200
240
200
880
3,680
24
Expected Revenue vs EBIT in 2015-2017
Strictly
Private
& Confidential
Strictly
Private
& Confidential
THB : Million
6,000
5,000
4,930
5,100
Y2015
Y2016
5,400
4,000
3,000
2,000
1,000
-
Y2017
Expected EBIT
THB : Million
2,500
1,330+xxx
410+xxx
1,970+xxx
2,000
1,100
1,500
1,000
500
520
-
580
260
100
50
640
140
90
xxx
140
90
xxx
xxx
Y2016
Y2017
-
Y2015
Trading & EPC
O&M
Gas Engine
Solar
Wind Power
2525
Expected CAPEX Need
Strictly Private & Confidential
THB : Million
~550 MW
12,000
XXX MW
XXX MW
10,000
355 MW
XXX New project
8,000
7,200
302MW
5,700
XXX New project
1,500 KWE
6,000
210 MW
2,400 GNP,Japan#1
4,000
105 MW
3,300
2,300
1,000 New Solar
2,000
2,300 WED
Q2-2015
Q3-2015
Q4-2015
Q1-2016
Q2-2016
Q4-2016
2017 F
26
4. Growth Strategy
27
Section 4: Growth Strategy
1
Strategy for Trading and Manufacturing Business
Strictly Private & Confidential
Expansion and improvement of electrical system are
expected, as demand for electricity continued to
expand
In 2012 electricity peak demand in Thailand increased
strongly at 9.3% YoY, compared with the average of
3.78% of growth rate of peak demand over the past ten
years
Investment in transmission
systems will remain substantial
and
distribution
As indicated in PDP 2010, the investments for the main
electricity authorities during 2010-2030 is budgeted to
reach THB 328 Bn.
Unit: THB Bn.
Unit: MW
Power generation
Distribution
1,779
1,691
+9.3% YoY
328
2010-2020
421
2021-2030
Source: EPPO as of NOV 2014
http://www.eppo.go.th/info/5electricity_stat.htm
28
Section 4: Growth Strategy
1
Strategy for Trading and Manufacturing Business
Strictly Private & Confidential
Gov’t budget of THB 2 trillion for improving Thailand’s infrastructure including
the construction of Mass Rapid Transit for 9 routes will create demand of our
in-house products
In-house
Products
Transport network of rail and mass transit 9 lines
C2.BangsueThammasart Rungsit
3.Morchit-Paholyathin-Sapanmai (Lumlukka)
1.Bangsue-Bangyai
5.Bangkapi-Bangbumru
C1.Bangsue-Talingchan
7.Bangkapi-Minburi
2.Bangsue-Thapra
Hualumpong-Bangkae
C3.Bangsue-Pyatai-Huamark
6.Taksin-BangwaPuttamonton sai 4
8.Outer Ring Road (A-D)
4.Baring-Sumrong-Samutprakarn (Bangpu)
C4. Hualumpong-Mahachai
29
Section 4: Growth Strategy
2
&
Strategy
for EPC and Power Producer
3
Strictly Private & Confidential
Thailand’s PDP 2010, 3rd revision
Growing number of renewable power plants is expected
From New Alternative Energy Development Plan 2012-2021, following policy announcement on November 30, 2011 by the government,
renewable energy is to contribute 25% of electricity source by 2021. On October 2014, the regulator increased generating capacity from
9,201 MW to 14,724 MW representing 60%
Previous
Total 9,201 MW
Unit: MW
Type of Energy
Solar
Biogas
Biomass
Waste
Hydro
Wind
Total
Revised
Total 14,724 MW in 2021
Previous Capacity
2,000
600
3,630
160
1,608
1,200
9,201
Current Capacity
3,000
3,600
4,800
400
324
1,800
14,724
Source: http://webkc.dede.go.th/testmax/sites/default/files/factsq1_2014.pdf
http://www.erc.or.th/ERCSPP/MainPage.aspx
Current (install capacity)
Total 3,969 MW in Q1/2014
PPA-Granted
PPA-COD in APR 2015
1,424
89
118
111
14
1,750
3,506
1,219.29
200.02
930.26
65.51
0.80
188.70
2,604.58
30
Section 4: Growth Strategy
&
2
Strategy
for EPC and Power Producer
3
Strictly Private & Confidential
3131
Section 4: Growth Strategy
&
2
Strategy
for EPC and Power Producer
3
Strictly Private & Confidential
Thailand’s Solar Industry Snapshot
On August 15, 2014, the National Energy Policy Council (NEPC) launched a policy to promote solar power
projects as follows;


For the PPA of solar farm to be issued on 2015, the purchasing form will be changed from 6.50 THB Adder to
5.66 Feed In Tariff (FiT) .

The quota for solar farm will be open for 1,054 MW to achieve the target at 2000 MW. However, all the projects
have to COD within 2015. The Department of Alternative Energy Development and Efficiency (DEDE) is
appointed to consider the applications previously submitted.

Solar rooftop program has been set the new rate of electricity to be sold back to utilities (the Provincial
Electricity Authority) in a range of THB 6.01 to THB 6.85 and THB 6.01 for industrial ( 250 KW to 1 MW).

The utilities will release another 69 MW for a solar rooftop in residential scale to full fill the target 200MW.

Energy Regulatory Commission was delegated to issues regulations for the purchase of power from solar roof.

A 800 MW Solar Community will be changed in ownership of a government offices and cooperative with FIT
5.66 THB for 25 years and the projects have to COD with in 2015. Solar
32
2
&
3
Strategy for EPC and Power Producer
Strictly Private & Confidential
Thailand’s Renewable Energy Industry Snapshot
On May 7, 2015 Ministry of Energy (MoE) approved to
buy electricity from renewable energy (biofuel) 10
projects at 39.69 MW
Furthermore, MoE approved to buy
electricity from 92 solar farms on ground
(pipe line) at 482.675 MW
Biogas
2 Project
1.85 MW
Solar Farm 80
Projects (first
approved) 507
MW
Waste
4 Projects
27.0 MW
Biomass
4 Projects
10.84 MW
Remark : Refers to AEDP in Year 55-64
10
Projects
Solar Farm 92
Projects (last
approved)
482.675 MW
39.69 MW
172 Projects and 989.675 MW
33
Section 4: Growth Strategy
Growth Capacity for Power Plant & EPC Business
Strictly Private & Confidential
Thailand’s Solar Industry Snapshot
1,073 MW Solar Farm & 800 MW Government and Cooperative Solar Farm PPA would have been granted within
1H2015. Both Sector have to COD within 2015.
800 MW
1,054 MW
1,727 MW
( FIT = 5.66 Baht)
PPA + EPC
( FIT = 5.66 Baht)
(~ THB 63,240 mTHB)
EPC Value
( ~ THB 48,000 mTHB)
34
Section 4: Growth Strategy
Solar’s PPA Quota Plan
Strictly Private & Confidential
1,073 MWp
3,800 MW
35
Section 4: Growth Strategy
Solar Roof Government Feed-in Tariff Program
Strictly Private & Confidential
Residential
Installed
capacity
Industrial Building
0 to 10 kW
10 to 250 kW
250 kW to 1 MW
0 to ~77 sq.m.
~77 to ~1,900 sq.m.
~1,900 to ~7,700 sq.m.
Private Customer
>1 MW
Local communities
Local communities
Industries
Small buildings
Medium buildings
Retail
Agriculture
Agriculture
Logistic centres
Industries
FIT
(Baht/unit)
6.85
6.40
6.01
36
Section 4: Growth Strategy
2
&
Strategy
for EPC and Power Producer
3
Strictly Private & Confidential
PPA status of Wind Energy
PPA Granted : 1,750 MW
Currently, GUNKUL has been granted PPA 170 MW
GUNKUL is looking for opportunity to acquire more PPA approx. 50-100 MW
37
Growth of GUNKUL Equity MW.
Strictly Private & Confidential
Extracting growth from existing domestic assets & potential developing projects
Energy/
Capacity
Company
Project
Location
2013
2014
2015
2016
Accumulat
ed
% Own and
Installed
Accumulate of Install
Capacity Capacity
Capacity by GUNKUL’
(GUNKUL +
Proportion
Partner)
Solar Farm
56.9 MW
Solar Farm - 1 MW
Solar Rooftop
7.5 MW
GCPG
Project 1
Chondan, Bung Samphan,
Petchaboon, Pichit, Bung
Samphan, Nakorn Nayok
COD since 2011
GPS
Project 1-3
Tasang,Takeed, Dong-Kon,
Bung Samphan
COD since 2012
NK
Project 1
Kanchanaburi
COD since Nov, 2013
Solar
Entities
Project 1-17
WED
Project 1
Huai Bong
WED
Project 2
Huai Bong
GNP
Project 1
Huai Bong
GKMCP1
Project 1
Yangon, Myanmar
GKMCP2
Project 2
Yangon, Myanmar
KWE
Project 1
Nongnamsai, Donmuang
4 Projects COD
Bangkok, Saraburi, Rayong,
Nongthaburi, etc
since 2Q2014
SCOD 1Q2016
Wind #1 - 60 MW
Wind #2 - 60 MW
Gas Engine 50MW
Wind #3 - 50 MW
SCOD 1Q2016
SCOD 4Q2016
COD since Nov, 2013
Solar Farm - 90 MW
Potential Developing Project (Oversea)
Japan #1- 31.75 MW
Potential Developing Project (Oversea)
Japan #2- 34.00 MW
Potential Developing Project (Oversea)
Japan #3- 39.00 MW
Potential Developing Project (Oversea)
SCOD 2H2015
SCOD 1Q2017
Total
(MW)
(MW)
(MW)
%
(MW)
30.9
30.9
51%
15.76
26
1
56.9
57.9
7.5
65.58
10
50
60
25
25
50
90
31.75
34.00
39
75.58
125.58
185.58
210.58
235.58
385.58
385.58
417.33
451.33
490.33
40%
100%
100%
25.01%
100%
100%
100%
51%
60%
100%
100%
100%
100%
100%
11.63
27.16
30.56
31.63
41.63
91.63
151.63
164.38
179.38
229.38
319.38
351.13
385.13
424.13
490.33
424.13
38
Section 4: Growth Strategy
3
Potential Oversea Wind Projects
Strictly Private & Confidential
MON
Granted MOU by
MOEP2 (Ministry of
Electric Power 2) to
conduct feasibility
study for wind
projects in Myanmar
with total capacity of
1,000MW
Tanintharyi
39
Q&A
40
Disclaimer
Strictly Private & Confidential
This presentation includes statements of future expectations, projections or other forward-looking
statements, which reflect our current views with respect to future events and are not a guarantee of further
performance. A number of important factors, risks and uncertainties could cause actual results or
outcomes to differ materially from those expressed in any forward-looking statement. No assurance is
given that these future events will occur, or that the Company’s assumptions are correct.
Contact us at [email protected]
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42
Strictly Private & Confidential
43