oneia morgan solar presentation

ONEIA: Chasing the Wind & Sun

Renewable Energy in Ontario Challenges & Opportunities

Nicolas Morgan, Co-founder, VP Biz Dev416.203.1655 nicolas@morgansolar.com

Sun SimbaLow cost, high efficiency PV panels

Investors Funding & Support

$9.2 million in Angel, VC & strategic investments

$10.3 million in Canadian & US Government funding

Political Stuff

Conservatives will change the Green Energy Act

Liberals will too!

FIT rates will drop either way

Lessons Learned

• Investors & Project Finance are out there, and yes, in Canada too

• Governments can and will help

• In both cases:

Figure out who, then ask them for advice.

“What are you looking for?”

Follow up on rejection, learn! Try again!

Lessons Learned• Big players will work with a small company

• Get top people on-board early (worry if you can’t)

• Early on, their contribution should be easy, low risk & cheap, but NO FREEBIES!

• Easier to propose a project than join one.

• Time-vampires and needy partners get dropped VERY easily

Lessons Learned• Are your customers really your focus?

• Should focus on the bankers, which means:• Show how you’re going to prove your claims.

• Don’t avoid talking risks.

• Never try TWO new things at once.• Understand project finance, taxes & full costs.

Customers are plentiful,customers with money are rare.

There is a demand for “better”

• Better = New, but also risky • Cost! “No premium electrons”• Lower LCOE vs. Racing Stripes• But not all racing stripes are equal

Racing Stripes?

100 km Upwind from Toronto

Opportunities

Crowded Markets in Solar:• 10 MW Solar farms• Rooftops• Ground-mounted MicroFIT

• Too much focus on “site”

• Not enough differentiation

• Many 100 kW to 2 MW projects out there.

Finance at smaller scale: More options & less painful.

Opportunities

• Many opportunities vs. “my baby” • Most projects fail before they start• So, get to “No” quickly (and often)

Mother Cat Queen BeeMother Bear

Nicolas MorganCo-founder & VP Biz Dev

416.203.1655nicolas@morgansolar.com30 Ordnance St.Toronto, Ontario

Thanks!