Matthias Bausenwein General Manager for Ørsted Asia ... · 우수한통합적비즈니스모델 25+ years in offshore wind sector Always built on time, on budget! Long-term commitment,

Matthias BausenweinGeneral Manager for Ørsted Asia Pacific

Chairman Ørsted Taiwan

해상풍력의핵심요소

Ørsted의변화

대만의성공사례와한국의파트너쉽

Black 에서 Green energy로중대한전략변경그리고 Oil & Gas사업철수

녹색에너지로움직이는세상만들기

4

• Headquartered in Denmark

• 50.1% owned by the Danish State

• Listed in the Nasdaq OMX: ORSTED

• 5,638 employees

• Revenue in 2017 DKK 59.5 bn (EUR 8.0 bn)

• EBITDA in 2017 DKK 22.5 bn (EUR 3.0 bn )

• Phase out the use of coal by 2023

•

•

•

Ørsted 회사개요

* Share of the Ørsted Group’s capital employed, Annual Report 2017

Ørsted Asia Pacific, Oct 2018

Ørsted, 해상풍력분야의글로벌리더

5

전세계대형해상풍력개발사 (글로벌개발용량, GW)

0.30.3

3.6

클러스터시너지효과가가능한Ørsted Wind Power의규모

28% 7% 10% 9% 2% 1% 0%

Source: Bloomberg New Energy Finance, August 2018, Ørsted analysis

2%

% share of global constructed capacityConstructed Under construction

3% 4% 2%

Operational offshore wind farms

Offshore wind farms under construction

Cluster

1

4

3

2

Synergies

✓ Lower logistics costs

✓ Fewer technician hours

✓ Fewer facilities needed

✓ Lower inventory levels

• UK West coast (East Irish Sea): Barrow, Burbo Bank,

Burbo Bank Extension, West of Duddon Sands,

Walney 1, Walney 2, Walney Extension

• East UK North: Westermost Rough, Lincs, Race

Bank, Hornsea 1, Hornsea 2

• East UK South: London Array 1, Gunfleet Sands 1,

Gunfleet Sands 2, Gunfleet Sands 3

• Germany: Borkum Riffgrund 1, Borkum Riffgrund 2,

Gode Wind 1, Gode Wind 2

• Danish waters: Anholt, Nysted, Horns Rev 2,

Middelgrunden

Dutch waters: Borssele 1 & 2

1

2

4

5

3

Innogy

E.ONVattenfall

Iberdrola Northland

Power

Equinor

CIP

SSE

Shell

EnBW

6

WPD

1%

Van Oord

1%

5

1.3

5.1

1.9

0.80.4

0.6

3.8

0.3

0.8

0.91.1

1.91.6

0.4

0.4

0.30.7

0.1

0.6

0.6

0.9

0.4

0.3

0.3

0.30.5

0.30.2

0.2

2.0

0.20.2

0.1

8.9

0.5

2.2

0.2

0.8 0.70.5 0.4 0.4

6

UK 5.8 GW

Germany 1.4 GW

Denmark 1.0 GW

Netherlands 0.8 GW

China

LongyuanEneco

2% 1%


Note 1: London Array is operated by London Array Limited

단순디벨로퍼가아닌통합에너지회사

6

Develop OperateBuild Own

우수한통합적비즈니스모델

25+ years in offshore wind sector

Always built on time, on budget!

Long-term commitment, entering a market to stay

Proven track record in developing local, long-term partnerships

A trusted partner & advisor

We have partnered up with


7

Unparalleled experience and track recordGlobal footprint

Walney Extension

West of Duddon Sands

Westermost Rough

Isle of Man

Walney 1 & 2

Barrow

Burbo Bank Ext.

Burbo Bank

Gunfleet Sands 3

Gunfleet Sands 1 & 2

Lincs

London Array

Race Bank

Horns Rev 1 & 2

Hornsea 1

Anholt

Middelgrunden

Vindeby

Nysted

Borkum Riffgrund West 1&2

Borkum Riffgrund 2

Borkum Riffgrund 1

Gode Wind 1

Gode Wind 4

Gode Wind 2

Bay State Wind

24 offshore wind farms

in operation

4 offshore wind farms

under construction

19Partnerships

25+ years of experience

and track record in the

offshore wind power sector

1991 2018

3.8 GWunder

construction

~ 2,300 Dedicated

employees

5.1 GW Constructed

capacity

14 million

people with

clean

electricity

~ 1,200

turbines

World's

leading

operator

Coastal Virginia

Avedøre

Under construction

In operation

Under development

Decommissioned after 25 years

Asia Pacific

Formosa 1.1Formosa 1.2

USA Europe

Greater Changhua projects

OWP West

Ocean Wind

Hornsea 2 Hornsea 3 & 4

Borssele 1&2

Ørsted의해상풍력단지개요

Constitution Wind

Gode Wind 3


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의변화 세기초반부터중대한과제에직면

DONG Energy established through merger in 2006

Invested broadly to identify new growth

Legacy business eroding

Operating profit (EBITDA), DKK bn

1.1

-72%

3.8

Conventional power production

-141%

-1.5

3.5

2007 2012

Mid-stream gas business

L N G

– Onshore wind

– Offshore wind

– Hydro

– Conventional

Power Plants

– Waste Fired

Power Plants

– Virtual Power

Plants

– Distribution Grids

– Electric Vehicles

– Gas Storage

– LNG

– Oil & Gas

2007 2012


의변화를주도하는 가지주요견인책

91. Includes onshore wind, hydro power plant, gas-fired power plants (UK, NO), GTF office, Danish gas storage, and ‘other’Ørsted Asia Pacific, Oct 2018

Divested non-core assets of DKK 17 bn.1

Invested DKK 81 bn. to expand offshore wind to 3.8GW today with secured pipeline to reach 8.8GW by 2022

Farmed down 12 wind farms to recycle DKK 65 bn. of capital

Reduced offshore wind cost-of-electricity by 50%

Converted 5 of 7 heat and power plants to biomass to secure profitability and announced “coal-free by 2023”

Turned around loss-making long-term gas contract portfolio, gaining DKK 6.4 bn. from compensation payments

Initiated strategic shift in retail business from commodity sales to integrated, green energy solutions

Lowered net interest-bearing debt and stabilized credit ratings

Restructured and divested legacy, upstream Oil & Gas division

Changed the company name and visual identity to reflect new green platform

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지속적인변화를위한 의재정계획

1. Seas NVE, Syd Energi, Insero, Nyfors, and employees


Cash generated from mid-2013 to end-2014

DKK bn

1 Re-focus portfolio 12 4 business areas

2 Divestments DKK 23 bn (KRW 4,100 bn)

3 Cost reductions DKK 1.2 bn (KRW 211 bn)

4 Equity injection DKK 13 bn (KRW 2,300 bn)

✓

✓

✓

✓

2.3

ATP / PFA TotalGoldman

Sachs

36

5.7

Hydro

4.5

London

Array

(25%)

Gas-fired

plants

(NO, UK)

4.9

1.9

Onshore

wind

Gentofte

office

Other

2.5

3.5

8.0

23

3.0

Other1Total

divestments

Divestments Equity injection

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의전통발전비지니스의변화

1. Adjusted for divested activities

2. Ability to use coal retained in case of force majeure


Transformation of Danish power plant business Biomass conversions well underway – coal will be fully phased out by 2023Ørsted fuel composition, %2Danish portfolio of central plants, GWe

OPEX, DKK bn

# of FTEs1

-40%

3.0

20162009

5.0

2.9

20162009

-48%

1.5

~800

-58%

~1,900

20162009

27%

82%

18%

14%

6%

12%

12%

66%

46%

7%

6%

2023

1%

2016

100%100%

2006

3%

100%

Gas (DK)Waste Oil Gas (NL)Coal Biomass

12

✓

✓

✓

✓

년 사에 의 사업매각

✓

✓

✓

✓

✓

✓

13

로순조로운변화진행중


Share of green power

%

CO2-emissions

g / kWh

2023

59

13

2007 2020Today

>95

80

100

<20

164

-96%

452

202320202007 Today


Ørsted의변화


독일사례 기획단계에서부터안정적인보조금정책으로장기적인비용절감달성

15

Offshore wind LCOE development DEEUR / MWh (real)

0

50

100

150

200

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15

Internal use

Feed-in-tariff & introduction

of fixed market premium Competitive auctions

German projection

German development

GW build-out

Reliable market conditions to build-

up (local) supply chain for long

term cost reductions

Maturation: Reap harvest of well managed supply

chain, through intense market competition to ensure

long term competitiveness

End 2015: Stable

industry with 18000

Jobs in offshore

wind createdEnd 2019:

10 years of

subsidy

7- 10 years

1 - 2 years

20-25 years

Project Development

and preparation Construction Operational Phase

Building permitFinal

investment

decision

Grid capacity

allocation

Grid connection

16

Investment Revenue

해상풍력사업 명확하고안정적인제도의뒷받침필요

Key takeaways:

Offshore wind development is a long term process, clear targets, a long term stable regulatory framework (e.g. FIT, relaxation of EIA, regulation for use of general sea areas) are needed


Ørsted의변화


개발자산을보유한최대의해상풍력디벨로퍼

18

Competitive landscape for round two projects 1.8 GW grid has been secured in Taiwan

920

1,058

744

600506

409300

900

300

1,820

1,044

FiT Auction

해상풍력사업을위한현지화전략

19

Supply chain development Financing Strategy

Job creation & talent training Research & development

DD Radar Energy Storage

Ørsted Asia Pacific, Sep 2018

대만내최초해상풍력단지개발과금융조달경험

20

Wind farm location

Project highlights

▪ The 1st offshore wind farm in Taiwan (demonstration project)

▪ Distance to shore: 2-6 km

▪ Water Depth: 15-32 m

▪ Capacity: 128 MW

Phase I 8 MW (2 x 4 MW) completed in Apr 2017

Phase II 120 MW (20 x 6MW) to be installed in 2019

▪ Signed Phase II PPA with TaiPower in Dec 2017

▪ Financial close in Jun 2018

Ownership structure

• Ørsted: 35%

• Swancor: 15%

• Macquarie: 50%


21

Global footprint

Korean suppliers are already partners in

Ørsted’s five different wind farms in UK

• Westermost Rough (210MW – COD 2015)

• LS cables

• Race Bank (517MW – COD 2018)

• POSCO steel

• Walney Extension (659 MW – COD 2018)

• POSCO steel

• CS Wind Tower

• Hornsea 1 (1,218 MW – COD 2020)

• POSCO steel

• LS cables

• CS wind Tower

• Hornsea 2 (1,386 MW – COD 2022)

• Confirmed supplier LS cables

• Supplier discussions ongoing with other

Korea suppliers

Walney Extension West of Duddon Sands

Westermost Rough

Isle of Man

Walney 1 & 2

Barrow

Burbo Bank Ext.

Burbo Bank

Gunfleet Sands 3

Gunfleet Sands 1 & 2

Lincs

London Array

Race Bank

Horns Rev 1 & 2

Hornsea 1

Anholt

Middelgrunden

Vindeby

Nysted

Borkum Riffgrund West 1&2

Borkum Riffgrund 2

Borkum Riffgrund 1

Gode Wind 1

Gode Wind 4

Gode Wind 2

Bay State Wind

Coastal Virginia

Avedøre

Taipei office

Under construction

In operation

Under development

Decommissioned after 25 years

Asia Pacific

Formosa 1.1Formosa 1.2

Boston office

USA Europe

Greater Changhua projects

OWP West

Ocean Wind

Hornsea 2Hornsea 3 & 4

Borssele 1&2

년이후현재까지 한국업체와총 억공급계약체결

Constitution Wind


Gode Wind 3

Documents

Matthias Bausenwein General Manager for Ørsted Asia ... · 우수한통합적비즈니스모델 25+ years in offshore wind sector Always built on time, on budget! Long-term commitment,