Sirrs Materials Day 2010 - C-Power
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The document provides an overview and status update of the Thorntonbank offshore wind farm project in Belgium. It summarizes that the project involves building the wind farm in three phases to reach a total capacity of 325.7 MW. Phase 1 with 6 turbines is already operational. Contracts are being finalized for Phase 2 in 2011-2012 and Phase 3 in 2012-2013, which will each involve installing 24 larger 6 MW turbines. Financing is expected to close in Q3 2010 to allow construction to proceed.
Sirrs Materials Day 2010 - C-Power
- 1. Thorntonbank project description and status 19-Apr-10 (v1.6)
- 2. Agenda Thorntonbank project presentation and status Contractual structure Financing strategy -1-
- 3. C-Power shareholders By cooperating in the Thornton Bank project, the Belgian and European shareholders developed unique expertise and leadership in the offshore wind energy sector. The experience gained in the C-Power project is already beneficial for other offshore wind farms in the North Sea and beyond, in which the shareholders are involved -2-
- 4. Shareholders experience The DEME-group is a worldwide operating dredging and marine engineering specialist. Through its daughter companies GeoSea, Tideway, Scaldis Salvage & Marine Contractors and Dredging International, DEME has so far been involved in the construction of seven of the largest offshore wind farms: – Utgrunden, Sweden: construction of a 7 X 1.5 MW offshore wind farm – Horns Rev, Denmark: erosion protection for 80 X 2.3 MW offshore wind turbines – Samsø, Sweden: installation of 10 X 2.3 MW offshore wind turbines – Rødsand, Denmark: transport and installation of the transformer module (650 tones) to the Nysted offshore wind farm – Beatrice Field, United Kingdom: assembly and transport of 2 X 5 MW turbines – Thornton Bank, Belgium: marine engineering and installation of 6 X 5 MW offshore wind turbines of C-Power’s first project phase – Alpha Ventus, Germany: Prepiling of 6 OWEC jackets on Alpha Ventus offshore Test Field 45 km of the coast of Borkum (ongoing) – Ormonde (UK): installation of 30 jacket foundations in summer 2010 (same jackets as for C-Power) Ecotech Finance, is an environmental holding of the Walloon regional investment company SRIW and Socofe, the investment company of the local and intermunicipal authorities of the Walloon Region in Belgium. Both holdings are specialists in financing and development of environmental as well as utility infrastructure projects NUHMA is an investment holding controlled by Flemish cities & communes for the participation in electricity and utility ventures EdF-Energies Nouvelles (EN) is a private company in which Electricité de France (EdF) holds 50% of the shares. EdF EN is worldwide active in the development and exploitation of renewable energy projects of which more than 300 MW wind farms RWE Innogy pools the renewable energy expertise of the RWE Group. The company plans, builds and operates renewable power generation facilities, and aims to vigorously grow its renewable energy capacity in the UK and Continental Europe. On 30 April 2009, RWE Innogy has acquired a 26.7 percent stake in C-Power, with the objective to enlarge its participation in the offshore wind sector -3-
- 5. C-Power concession C-Power has obtained a concession to build and operate an offshore wind farm in the Exclusive Economical Zone of Belgium Continental Shelf The new Ministerial Decree (03-Feb- 2010) allows the exploitation of 50 to 60 wind turbines for an installed capacity between 3,6 and 6MW (maximum total installed capacity = 360 MW) The concession area is located on the Thornton sand bank, which lies about 30 km offshore from the Belgian Coast The concession is crossed by the Interconnector gas conduct and the Concerto South 1 telecommunication cable. The concession is then split in two areas (Western part = Area A; Eastern part = Area B) -4-
- 6. Wind farm layouts and phases Phase 1 Phase 2 Maximization of the concession = 6 REpower 5M = 24 REpower 6M Area A Area B – 24 new WTG in Area A – 24 new WTG in Area B Installed capacity – Phase 1 30,5 MW (Operating pilot phase) – Phase 2 147,6 MW (Construction: 2011-2012) – Phase 3 147,6 MW (Construction :2012-2013) – Total 325,7 MW Phase 3 = 24 REpower 6M Area A -5-
- 7. Expected production Yearly production estimated by Sgurr Energy LTD: P50 P90 • 1.167.549 MWh Green production @ 100% • 950.680 MWh Green production @ 100% • 1.085.821 MWh Green production@ 93% • 884.132 MWh Green production @ 93% • 1.053.246 MWh Grey production@ 93% • 857.608 MWh Grey production @ 93% -6-
- 8. Construction works per phase Phase 1 (Pilot Phase operating since Jun-09) • a directional drilling for beach and dune crossing • installation of temporary 36 kV-onshore cables • installation of 6 foundations + wind turbines (5MW), mutually connected with a 36 kV-cable • installation of the first 150 kV-offshore cable • connection between the 150 kV-offshore cable with the temporary 36 kV-onshore cable and the connection with high voltage station “Sas Slijkens” • set-up of protection- and control system Phase 2 (Sub area B) – 2011-2012 • Installation of 24 foundations and wind turbines (6MW) in sub area B mutually connected with 33kV-cables Phase 3 (Sub area A) – 2012-2013 • installation of 2 subsoil 150 kV-onshore connections between the 150 kV-offshore cables and the high • construction of 24 additional mutually voltage station “Sas Slijkens” connected wind turbines (6MW) and the • enlargement of protection- and control system necessary connections with the • laying and connection of infield cables (including transformer station crossing with Interconnector 33/36kv gas pipeline and • installation of the second 150 kV- Telecom South Cable offshore cable • De-connection works of 150/170 kV cable A from D1 • enlargement of protection- and control and connection to transformer station system • laying of 33kV infield cable between Transformer station and D1 • construction of an offshore transformer station + its jacket foundation -7-
- 9. Construction timeline 2010 2011 2012 2013 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Area A in 2012 and Area B in 2013 Design & Engineering, Soil investigation Contract and financial negotiation (incl. due diligence) Onshore cable installation Steel reservation for foundation Pre-order WTG Financial close Equipment construction at contractor site (WTG, cables, OHVS, found.) Foundation delivery and installation Grid connection and onshore cable available Delivery of OTS Installation of OTS and connections Delivery of Cables Installation infield cables 2nd Export Cable installation Delivery of WTG Installation of WTG Commissioning Phase 2 (Area B for WTG + OTS) Phase 3 (Area A for WTG + 2nd export cable) -8-
- 10. Project status Pilot phase = 6 REpower 5M on Gravity Based Foundation (GBF) operational since 30/06/2009 – Production performance (S2 2009): 24% above P90 calculation – Availability increasing gradually up to 98% in Dec-09 – All permits obtained and environmental monitoring program on going with positive preliminary results – Non-recourse financing (107M€ total senior loans, 20M€ Mezzanine, 25M€ grid subsidy) with 45M€ sponsors support Status preparation for the next phase – Soil investigation conducted and design bases finalized – Wind turbine is selected and 10 year full-O&M contract almost ready for signing – Architecture business model finalized Objectives – Finalization detailed contract negotiation and due diligence: estimated Q2 2010 – Financial close: estimated Q3 2010 -9-
- 11. Agenda Thorntonbank project presentation and status Contractual structure Financing strategy - 10 -
- 12. Contract structure for Phase 2 and Phase 3 C-POWER FIDIC First phase contract Based 1st phase update contract update AAV based contract lessons learned THV Seawind (MEC) ABB REpower (DEME / Fabricom GTI) • Offshore cable design and supply • Jacket design and supply • Design, manufacture, delivery and • Offshore cable connecting • Jacket transport and installation installation of turbines (from final hang off) • Offshore infield cable laying • Operation and Maintenance over 10 • Installation electrical equipment • Offshore sea-cable laying years after commissioning phase III • Supply and commissioning offshore • Offshore OHVS transport and trafo installation • Onshore cable laying • Dune crossing boring • Onshore directional drilling • Maritime logistics on WTG installation
- 13. ABB With its 20 years of experience, ABB serves wind power customers at every stage of the process. Their in-depth know-how, years of experience and thorough understanding of both wind turbine applications and power systems have made ABB a leading partner for the wind power industry HVAC (High Voltage AC) solutions Wind 33/36 kV Offshore AC 150 kV Onshore AC ELIA farm Collection grid substation Export cable substation network - 12 -
- 14. REpower Choice of wind turbine The selected wind turbines for the next phases are a 6,15 MW wind turbine of REpower, with the following characteristics: – Hub height at +95.60 mTAW – Interface level: deck level of +18.60mTAW + 1m flange height = +19.6mTAW – Rotor diameter : 126 m – Total tower height: 73 m – Hub to tower top distance: 3m – Tower mass: 240 tons – Diameter of tower (O.D.): 5.50 m – Mass of turbine and blade: 455 tons – Rotor speed: 7.5..12.1 rpm – First eigen frequency band allowed for the global structure: 0.24 to 0.34 Hz (The critical frequency band in which the turbine is working and wich schould not be the eigen frequency of the global tructure is 0.345 - 0.6 Hz (+- 5%). - 13 -
- 15. REpower REpower 6M = upgrade of the REpower 5M Higher voltage of 6,6 kV (instead of 950 V) in generator stator Water cooling of generator (air – water –air) New gear box (higher torque) Adaptation of transformer to the higher voltage and power Optimization of the platform - 14 -
- 16. Foundations (included in MEC contract) Move from GBF to jackets foundations Gravity Based Foundation (GBF) Jacket foundations Man power-intensive works Requires less time Logistically complex Simpler logistic More harbor space needed Less harbor space needed Many marine preparation works (seabed Less marine preparation works preparation, scour protection, …) subject to weather For the Jacket installation, only 2 types of risks installation vessels are required. One for the pre- The installation of the GBF requires the intervention pilling with small dimension piles and readily of numerous large vessels, subject to weather risks available pile driving hammers and anohter one for the installation of the jacket foundation (delivered to the site directly from the jacket production line) Currently cheaper (lower steel costs today compared to 3 years ago) Need for further standardization and industrialization - 15 -
- 17. Foundations (included in MEC contract) Jackets from Aker Solutions (pictures from Alpha Ventus project) - 16 -
- 18. Foundations (included in MEC contract) Frames used for the pre-pilling of the jacket foundations - 17 -
- 19. Maritime works (MEC contracts) Installation vessels from DEME Less installation vessels Many installation vessels (larger and more sophisticated vessels) For the wind turbine installation, 3 jack-up are With new vessels only 2 jack-ups would be needed necessary • 1 transport jack-up • 2 transport jack-up • 1 installation jack-up • 1 installation jack-up Economy of scale reducing overall installation planning Technical characteristics of new :vessel – Dimensions: 60 x 36 meters – Leg 92 m length (3.50 diameter) – Jacking capacity 2,750 t pre-load per leg – Jacking speed 0.7 m/min ; stroke 1,75 m – Max pay load 1600 ton – Deck capacity 10 ton/m2 over 1.200 m2 – Main Crane of 72m with a capacity of 500 t at 22m – 4 x 800 kW fully azimuthing thrusters DP2 - 18 -
- 20. Maritime works (MEC contracts) Installation vessels from DEME All owned and self operated equipment - 19 -