poweringsolar in a world full of energy.€¦ · businesses –conergy will lead you to success. as...

CONERGY.COM

Conergy company presentation / June 2014.

CONERGY.COM

Powering solar

in a world full of energy.

Agenda

Company Overview

B2B

2

The power of solar is only

as strong as the team behind it.

How can we generate electricity in a way that’s

reliable, cost-effective and environmentally

sustainable? Answering this question is the challenge

of our time. As the leading global pure-play solar

downstream company with focus on project business

with development capital, engineering, procurement

and construction as well as operation and

maintenance services and global distribution

businesses – Conergy will lead you to success.

As a solar pioneer, our focus has been on the sun right

from the start. Every day the sun provides us with more

energy than we can use – energy that is clean and

free. And it will continue to do so for millions of years.

We are delighted the world is embracing a new

direction in energy generation moving away from

nuclear and fossil fuels, in line with the Conergy

vision. Drawing on our extensive expertise, we are a

team with a pioneering spirit dedicated to engineering

solar solutions. This motivates us every day to

develop high performance solar systems that improve

our customer’s bottom line. Not just with interesting

innovations but also with a forward thinking mind-set

that guides them every step of the way. Working

together we’ll transform solar power into the

cornerstone of tomorrow’s power supply.

Enjoy! Your Conergy Team.

EDITORIAL

3

The Conergy track record

> 15 YEARSof solar experience.

650 MW installed solar parks.

> 300 projects globally.

2.4 GW solar capacity sold.

11 countries.

WHO WE ARE

> 350employees.

4

Conergy – one of the largest

solar downstream companies in the world

| Conergy is a global pureplay solar downstream company with 350 employees and presence in 11 countries.

| Conergy is headquartered in Hamburg, Germany, where core competencies and central functions reside.

| Conergy’s core businesses are late stage development (“Project Development”), engineering, procurement and

construction (“EPC”) and ongoing operation & maintenance of rooftop and ground-mount solar systems (“O&M”).

Conergy also has a significant solar equipment distribution business (“B2B”).

| Conergy is well positioned to remain a strong solar player through its global presence, strong sales & service

units and its highly regarded brand for quality and engineering competency.

| Kawa Capital Management (“Kawa”) completed the acquisition of Conergy’s downstream assets in multiple

stages in 2H 2013. In the acquisition all company debt was eliminated and loss making manufacturing units were

not purchased. As a result Conergy is among the most bankable private downstream solar companies, with over

US$60.0mm of book equity.

WHO WE ARE

Conergy is among the largest solar downstream companies in the world with a true global footprint and a established track record

5

The first quarter 2014 results and highlights show Conergy’s new strength

United Kingdom

Successful and on time

completion of 68 MW in

seven of our planned

projects

Sale of five solar projects to

investors prior to completion.

The remaining two plants

were built for direct customers

Conergy is contracted to

operate and maintain all of

the sites

In addition, Conergy was

recently awarded the largest

EPC and O&M contract in the

UK, a 37 MW project for

German utility RWE

Philippines

Development of a major

350.000m2 large-scale solar

facility that feeds into the power

grid the city of San Carlos for

local supplier San Carlos Solar

Energy Inc., and clean energy

developer, Bronzeoak

Philippines

Construction of 22 MW plant in

Negros Occidental from August

2013. Operation following final

sign-off from the Energy

Regulatory Commission

Financing from ThomasLloyd,

a European-based asset

management group

Japan

Establishment of branch

office in Tokyo

Contract secured to realize an

830 kW solar power plant for

local investor Fujicom on

Japan's second largest island

in Shinhidaka

Additional securing of a

pipeline of projects equal to

~100MW

6

Conergy Core Business Overview

Mark

et

Seg

men

ts

Sale

sC

han

nels

ROOFTOP (B2C & B2B) PROJECTS (SPV & EPC)

COMMERCIAL (roof-top)RESIDENTIAL

Directsale

Direct Sale tosolar installers

Directsale

Project Development &

Financing

EngineeringProcurementConstruction

INDUSTRIAL (free-field)

+

O & M BUSINESS

| Indirect distribution of PV System components

via installer network – incl. modules, mounting

systems, inverters, storage & monitoring as well

as accessories

| One-stop shop for all PV system components &

comprehensive services incl. O&M residential

service offering

| Distribution to large investors, project

developers, EPCs and/or project financiers

| Turnkey solar park projects, incl. project

development, financing support, engineering,

procurement and construction

| Operation & maintenance services (technical &

commercial operations management)

CONERGY CORE BUSINESS

8

Conergy Global Solutions as strong service center for all Conergy countries

Comments

| Conergy is headquartered in Hamburg, Germany,

where central functions reside in the entity Conergy

Global Solutions GmbH

| In this central entity Conergy’s core competencies

and services are bundled - including global

Engineering, Quality Management, Purchasing and

Supply Chain

| Through the bundling of the services and know-how

in one central organization an efficient setup of the

company is ensured and the competencies are

continuously strengthened

| The strong shared service functions support the

sales units on a global basis and ensure a consistent

high-quality service to our clients

CONERGY CORE BUSINESS

ConergyGlobal

Solutions

9

Conergy builds turnkey solar power plants and provides O&M services after grid connection

Conergy’s project service offering for commercial and industrial customers

Conergy hands over theturnkey solar park to the customer – the power plant is ready for operation

Conergy provides

operation & maintenance

(O&M) services to

ensure highest possible yields

BEFORE GRID CONNECTION AFTER GRID CONNECTION

CONERGY Operate(long-term)

Build(short-term)

EXPERIENCE OF OVER 650 MWP EXPERIENCE OF OVER 300 MWP

CONERGY

Project Development

Financing Support

Engineering

Procurement

Construction

Operation &

Maintenance

CONERGY PROJECT BUSINESS

10

A global leader in turnkey solar power plants with over 650 MWp installed worldwide

Conergy’s project experience per country [MWp]

INSTALLED TURNKEY SOLAR POWER PLANTS


0.2

1.9

2.0

2.5

2.6

6.2

18.6

18.8

22.0

32.8

34.5

38.7

62.7

122.3

124.5

175.9

Indonesia

Switzerland

VAE

Romania

Czech Republic

France

India

Greece

Philippines

Italy

Korea

USA & Canada

Spain

Thailand

UK

Germany

11

For more than 15 years

Conergy has built multi-

megawatt PV power plants

as a global system provider

Conergy’s international

footprint encompasses the

construction of more than

300 PV power plants in

Europe, Asia, Middle East

and America

Conergy has completed

650 MWp of installed solar

power by H1 2014

Conergy’s power plants are now globally certified with internationally accredited "TÜV Label”

Exclusive partnership between TÜV Rheinland and Conergy

FINAL ACCEPTANCE

| Commissioning together with TÜV Rheinland

| Documentation in accordance to TÜV Rheinlandcriteria

Conergy offers certified TÜV standards on a global basis

Certification of TÜV is now offered as integral part of Conergy‘s EPC

services for large-scale turnkey solar parks: Customer benefits from

inclusion of external second opinion that ensures reliable and

sustainable project execution – customer’s power plant is automatically

TÜV certified

| Leading international auditor

network for security and

quality examination of solar

installations

| TÜV certification of solar

installations prove

internationally accredited

standards and quality

management

| TÜV certification as external

consultation for a second

opinion is widely used to

validate bankability of project

PARTNERSHIP FOR PLANT CERTIFICATION

PLANNING

| Check of yield prognosis

| Qualification of components

| Release of exe-cution planning

CONSTRUCTION

| Site supervision and on site quality assurance

| Test of modules by TÜV Rheinlandlaboratory

+ +


12

Throughout the lifetime of the PV plant, Conergyoffers O&M services with proven experience

Conergy’s Operation & Maintenance service offering

| Conergy can offer even

more benefits as O&M

partner if the project has

been planned and built by

Conergy

| In such case Conergy has

direct and quick access to

the project planning and

execution documentation

to clarify upcoming

questions

| Moreover, Conergy knows

its components and the

system integration best

and is experienced with

possible fault corrections

BENEFITS

EX

PE

RIE

NC

ES

ER

VIC

E S

CO

PE

| Technical management of over 300 MWp output power

| Commercial management of over 200 operating companies

| With a technical availability in average of 98,7 % Conergy projects

are always outperforming

| Leading company with over 12 years experience in O&M services with

the required infrastructure in place

TECHNICAL OPERATION MANAGEMENT

COMMERCIAL OPERATION MANAGEMENT+

| Technical plant management

| Fault management

| Data and information mgmt.

| Engineering / Consulting

| Administration

| System maintenance

| Bookkeeping

| Management

| Controlling

| Cash Management


13

Conergy started early to build up its global footprint and developed in-depth PV market knowledge

Conergy‘s international footprint & in-depth market knowledge

In-depth market knowledge

| The global sales teams enable Conergy to be

close to its customers

| Conergy has built up a large international

customer base in all segments

| The long-term local presence ensures an

in-depth knowledge of local market dynamics

and allows an early understanding of

changing business models

| With its international footprint Conergy can

balance risks of changing market

environments

Conergy has provided products and services to more than 30,000photovoltaic end customers worldwide

CONERGY VALUE PROPOSITION

14

Conergy’s Value Proposition

| FOOTPRINT & MARKET KNOWLEDGE: Conergy has a long presence in all relevant countries and across all market segments with in-depth knowledge of local markets (regulatory framework, sales channels, end-customer needs).

| CERTIFIED INSTALLER NETWORK: Conergy has a large network of certified installers who are trained to ensure the highest quality standards in planning, installation and O&M service.

| SYSTEM ENGINEERING COMPETENCE: Conergy has a highly qualified system engineering team with know-how about all system components combined with in-depth understanding of LCOE, load profiles, self-consumption and storage .

| INTEGRATED TOOLS: Conergy has comprehensive and fully integrated tools required for solar business: tailor-made business case calculation, system planning, online ordering as well as O&M monitoring.

| O&M SERVICE: Conergy has a competitive O&M package for residential & commercial customers.

| BRAND & TRACK RECORD: Conergy has one of the most well-established trusted solar brands standing for highest quality standards for system components and services as well as profound PV market expertise based on excellent track record.

| LEAN PROCESSES: Conergy has highly efficient and lean business processes in place across all operations.

| EXCELLENT TEAM: Conergy has an excellent management, sales and operations team with many people coming from mature industries – motivation, passion and reputation of the team is excellent.

VALUE PROPOSITION

15

Once you’ll know what to look for,you’ll see us everywhere

CARILLION/NATIONWIDE BUILDING SOCIETY, UKSize 50 kWp CO2-Saving / Year 20 tons Year Of Construction 2012

PALO ALTO, USA JEWISH COMMUNITY CENTERSize 397.5 kWpCO2-Saving / Year 150 tonsYear Of Construction 2014

REFERENCES

16

Once you’ll know what to look for,you’ll see us everywhere

LINSLERHOF, GERMANYSize 10.4 kWp CO2-Saving / Year 5,000 tons Year Of Construction 2012

NAKHON PATHOM, THAILANDSize 12,4 MWpCO2-Saving / Year 11,500 tons Year Of Construction 2011

SAN CARLOS CITY, NEGROS OCCIDENTAL, PHILIPPINES Size 22 MWpCO2-Saving / Year 18,820 tonsYear Of Construction 2014

REFERENCES

NEW ROW, UNITED KINGDOMSize 4,45 kWp CO2-Saving / Year 1,855 tons Year Of Construction 2014

17

Agenda

Company Overview

B2B

18

Partnering with success:Installer benefit from our experience

Advantages for our Conergy Installers

Trusted partner. Worldwide: Conergy is already a trusted partner to many installers all over the world. Through our

certified installer and service partner network alone, we have sold more than 1.8 GW to date.

Premium solar systems. From a single source: As a full service and solution provider Conergy offers one of the

most comprehensive product and service portfolios in the market. So no matter what product in our portfolio you

choose, you can be sure that we offer components exclusively from manufacturers that uphold the highest standards.

Reliability and quality. Support every single day: Our expertise comes from experience. So we know exactly what

our installers want — and how we can save them time and money. As a Conergy installer you will receive individual

support exactly where and when you need it.

Design & planning. Together we will make your project happen: Whether through our online planning tool

“Conergizer,” including our tailor made business case calculation, or through our years of expertise and know-how in

the area, we will make sure you have everything you need to deliver the perfect solution to your customers.

19

Integrated high-performance hardware and services meet our customers’ needs

Conergy’s solution offering

XX

XX

Inte

gra

ted

sys

tem

s

SERVICES

Extensive service offering along the whole customers

value chain

LEADING SOLAR SOLUTION AND SERVICE PROVIDER

Customer acquisition

Planning & quoting

Financing

DeliveryInstallation

System Operation &

Maintenance

Warranties & Insurance

Ordering

MODULES

HARDWARE

INVERTER

MOUNTINGSYSTEMS

+

20

Conergy offers high-quality PV systems and an integrated service package from a single source

System Competence

Based on our more than 15 years of solar

experience and in-depth expertise as a former

system manufacturer…

| ... Conergy integrates high-quality

components and comprehensive services to all-

round carefree solar system solutions

| ... Conergy’s sales force has the expertise in all

components, such as modules, inverters,

mounting systems, cables and electrical parts

| ... Conergy has the competence to ensure its

high quality standards by strict quality

management along the entire value chain

SIMPLE SECURE DURABLE

CONERGY’S SOLUTION OFFERING

21

Conergy provides premium modules made in Germany known for their quality, reliability & yield

Conergy PowerPlus Modules “Made in Germany”

| Made in Germany

| Premium quality for long service life

| Up to 3 % more module output through positive performance tolerance

| High yield security thanks to linear performance guarantee for 25 years

Aesthetic ‘Dark Blue’ and ‘Noir’ version

available

22

The Conergy P-series solar modules offer an attractive price / performance ratio

Conergy PE Module series

| Available as Full Square Mono and Noir

| Attractive price / performance ratio

| High module output

| 25-year linear performance warranty

| ISO 9001, ISO 14001 and OHSAS 18001 certified production

23

Conergy offers a high quality mounting system portfolio for all solar applications

Conergy’s mounting system portfolio

PITCHED ROOF ROOF-INTEGRATED FLAT ROOF FREE-FIELD

Solutions for all solar applications

24

CENTRAL INVERTERS

STRING INVERTERS

Conergy provides most reliable inverters frommarket leaders across all output classes

Conergy’s inverter portfolio

| Our central Inverter product portfolio is

available on request.

| Conergy offers the right inverter solution for

every kind of solar application – whether for

private or commercial customers.

25

MONITORING SYSTEMS

STORAGE SOLUTIONS

Conergy provides reliable monitoring systems as well as innovative solar storage solutions

Conergy’s monitoring & storage portfolio

| Our solar storage solutions from market leaders

ensure the maximum benefit of solar power.

| We offer professional and most effective

monitoring solutions from market leaders

across all output classes.

26

We make days easier: Conergy supports installers with an extended service portfolio

Conergy’s service portfolio for installer

Customer acquisition

Planning & quoting

Financing

Ordering

DeliveryInstallation

System operation

Warranties & Insurance

| Conergy’s service portfolio is

designed to perfectly meet our

customer’s needs

| Conergy supports installers at

every stage of their solar projects

and thus ensures high quality right

from the start until the system is

installed and even beyond

| Even worry-free for end customers:

Conergy’s service portfolio

comprises financing solutions,

individual calculation for self

consumption as well as well as

operation and maintenance

services well above industry

standard for maximum reliability

and security

CUSTOMIZED SERVICES

27

CONERGY.COMCONERGY.COM

Thank you.

We look forward to hearing from you.

Overview of

Kawa Capital Management

| Founded in 2007 by Daniel Ades and Alexandre

Saverin, based in Miami Beach, FL

| AUM of over $700.0MM

Global Multi-Strategy Hedge Fund (Kawa Fund Limited)

Real estate fund

Commercial bridge loans

Separately managed accounts

Special purpose vehicles

| The Kawa team attempts to take diverse event-

driven situations and structure profitable investments

for long-term growth through rigorous and persistent

monitoring of risk with special emphasis on capital

preservation

| Kawa’s investors value performance history, the

diverse investment strategies, and the strong focus

on risk management with a robust operational

infrastructure.

| In addition, Kawa Capital has focused on developing

a private investment platform with an opportunistic

approach to investing in different strategies.

| Kawa has recently dedicated efforts on the

renewable energy sector with a focus on solar

Photovoltaic (PV). The sector possesses declining

installed costs, long-term contracted cash flows with

creditworthy counterparties, and a limited number of

players willing to provide non-conventional financing.

29

Conergy has been selected by RWE Group to build a 37 MW solar farm

“It is the first time that utility company RWE has invested in British solar. It then plans to sell the solar farm after it is completed, which is expected to be towards the end of the summer, to Foresight Solar Fund Limited.”

“It will be funded by RWE Supply & Trading and is expected to save 16,000 tonnes of carbon dioxide a year.”

http://www.bbc.com/news/uk-england-oxfordshire-27129065

“The 37-megawatt Kencot Hill Solar Farm, on a disused airfield in Oxfordshire, England, will be one of the country’s largest, providing about 10,000 households with electricity, Essen-based RWE said today in a statement.”

“The park is scheduled to start operating in late summer. RWE, providing financial and technical support, agreed to sell the facility to Foresight Solar Fund Limited (FSFL) once constructed, it said.”

http://www.bloomberg.com/news/2014-04-23/rwe-invests-in-its-first-u-k-solar-park-conergy-to-build.html

30

Stringent supplier quality management on a global basis grants high quality product portfolio

Conergy’s Supplier Management

| Conergy’s supplier management ensures high quailty products

| According to high Conergy standards

Worldwide production sites:

GERMANY CHINA CZECH TAIWAN USA

Activities

1. Production process and product

quality audits at supplier’s

manufacturing sites

2. Quality Assurance Agreement

(QAA) required for supplier

qualification

3. Conergy Quality Requirements

(CQR) implemented in supplier

production sites

4. Product quality inspections

(according to ISO2859)

5. Claim management

Scope

MODULES STORAGE INVERTER MOUNTING SYSTEMS

SUPPLIER QUALITY MANAGEMENT

31

Quality Management Activities - Stringent supplier quality management on a global basis

1. Production process and product quality audits at supplier’s manufacturing sites

| QA measures which are appropriate for mass production to assure conform products

| Implementation of such QA measures during supplier qualification (incl. technical advisory)

| Corrective action request (8D) if deviations are found during production audits

2. Quality Assurance Agreement (QAA) required for supplier qualification

| Claim management process

| Change management process with Conergy approval for defined relevant changes

| Traceability of key raw materials

| Quality management of sub-contractors, providing critical raw materials

| Continuous improvement process and maximum defect ratio agreement

3. Conergy Quality Requirements (CQR) implemented in supplier production sites

| More than 80 quality criteria for PV modules, more than 50 quality criteria for inverters.

4. Product quality inspections (according to ISO2859):

| Pre-Shipment Inspections (PSI) at manufacturing sites

| Incoming Quality Control (IQC) in Conergy warehouses

| First Pass Yield (FPY) of the quality inspections is a KPI for supplier quality management

5. Claim management

| Sustainable corrective action process by 8D method with sign-off by QM Conergy

| Claim compensation incl. consequential claim cost32

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