mark taylor - geothermal turbines

7/30/2019 Mark Taylor - Geothermal Turbines

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The global geothermal turbine market:

Mark Taylor, Lead Analyst

Bloomberg New Energy Finance, 2004-2010


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Copyright and Disclaimer

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be a representation of such a guarantee. Any opinions expressed reflect the current judgment of the author of therelevant article or features, and does not necessarily reflect the opinion of Bloomberg New Energy Finance. Theopinions presented are subject to change without notice. Bloomberg New Energy Finance accepts no responsibility

.itself to undertake Regulated Activities as defined in Section 22 of the Financial Services and Markets Act 2000 andis notregisteredwith the Financial Services Authority of the UK.

2 PEI Voo: Geothermal Industry Outlook, 23 March 2010


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The Historical

Perspective

The Current

Market

A Look to the

Future



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Geothermal capacity additions by year and cumulative: MW/yr10.6GW total global installed capacity

10000

12000

700

800MW MW

8000500

600

6000

300

400

2000

4000

200

00

959

962

966

968

971

973

975

977

979

981

983

985

987

989

991

993

995

997

999

001

003

005

007

009


Source: Bloomberg New Energy Finance

1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1

Cumulative Capacity Flash Dry Steam Binary


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The Historical

Perspective

The Current

Market

A Look to the

Future



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Global geothermal turbine market shares: top three own 67%

Leaders by total installed capacity Leaders by total installed units

Toshiba25%Ormat

Others10%

Others25%

11% Ormat38%

Mitsubishi23%

12%= .

Ansaldo8%

7%

Fuji19%

Mitsubishi13%

Fuji9%


Source: Bloomberg New Energy FinanceSource: Bloomberg New Energy Finance


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Top four lead in average turbine unit size, Ormat units smaller butnumerous; MW

62.4

39.7

33.2

27.0

5.78.4


Toshiba Mitsubishi Fuji Ansaldo Ormat Others Source: Bloomberg New Energy Finance


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Top four have zero binary installations, GW

.

Dry Steam 2.6

Binary 1.4


Mitsubishi Fuji Toshiba Ormat Ansaldo Other Source: Bloomberg New Energy Finance


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The Historical

Perspective

The Current

Market

A Look to the

Future



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LOOSE classifications for resource / technology types

Enthalpy

Range (C)

Range (F)Likely Plant Type

- -

Mid 100-199 212-390 Binary

High 200+ 392+ Flash / Dry Steam


Source: Bloomberg New Energy Finance


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Over 50% of global projects anticipated to be >100MW

90%

100%

70%

80%

50%

30%

0%

10%


0 50 100 150 200 250 300 350 400Source: Bloomberg New Energy Finance


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Conclusions

J a anese iants lead and will continue to lead for foreseeable future:

Im here accepting the award on their behalf

Still many large projects to be done:

geothermal industry goes 2Legit2quit

Opportunities will increase as binary segment expands:lets be friends with Ormat, but keep others on our speed-dial



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mark taylor - geothermal turbines

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