absolute clean energy public company limited · become apparent. disclaimer. 3 company core...

Absolute Clean Energy Public Company Limited

May 2020

Brief Company Information

2

This presentation is for information purposes only and does not constitute or form whole or part of any offer, invitation or solicitation by or on behalf of the Company for sale or

subscription of or solicitation or invitation of any offer to or recommendation to buy or subscribe for any securities of the Company, nor shall it or any part of it form the basis of or

be relied on in connection with any contract, commitment or investment decision in relation thereto (“Securities”) in Thailand, the United States or any other jurisdictions. Any

recipient considering a purchase of Securities is hereby reminded that any such purchase should be made solely on the basis of the information contained in a final offering

document (which may be different from the information contained in this presentation ) and subject to the selling restrictions set out therein. No public offering of the Securities will

be made in the United States or in any other jurisdiction outside of Thailand where such an offering is restricted or prohibi ted. This presentation should not be construed as legal,

tax, investment or other advice. The information contained herein does not take into consideration the investment objectives, financial situation or particular needs of any particular

investor, and should not be treated as giving investment advice.

In addition, this presentation contains certain financial information and results of operation, and may also contain certain projections, plans, strategies, and objectives of the

Company, that are not statements of historical fact which would be treated as forward looking statements that reflect the Company's current views with respect to future events and

financial performance. These views are based on a number of estimates and current assumptions which are subject to business, economic and competitive uncertainties and

contingencies as well as various risks which are in many cases beyond the control of the Company, and which may change over t ime and may cause actual events and the

Company's future results to be materially different than expected or indicated by such statements. No assurance can be given that future events will occur, that projections will be

achieved, or that the Company's assumptions are correct. Such forward‐looking statements are not guarantees of future performance and accordingly, the actual results, financial

condition, performance or achievements of the Company may differ materially from those anticipated by the Company in the forward looking statements. The recipient is cautioned

not to place undue reliance on these forward looking statements.

In providing this presentation, the Company does not undertake to provide any recipient with access to any additional information or to correct any inaccuracies herein which may

become apparent.

Disclaimer

3

Company Core Competitive Advantages

Financial Highlights

Company OverviewI

IV

III

Table of Contents

Industry Overview and Growth Potential II

Key TakeawaysV

Company Overview

5

Who is ACE?Company Overview

“To be the world practical model of Clean energy powerplant, which is responsible for

environment, society, and shareholders”

“เปนโรงไฟฟาพลงงานสะอาดตนแบบของโลกทมความรบผดชอบตอสงแวดลอม สงคม และผถอหน”

Thailand’s Current Largest “Professional-Run” Biomass Power Producer

40 Years Strong foundation in Integrated Agricultural Industry

Thailand’s Leading Renewable Power Producer

The Green & Clean Energy Leader

6

ACE at a Glance

Innovative

Private

Power

Producer

for

Absolute

Clean

Energy

Abundant biomass feedstock

support from community surrounding

the power plants

Strong foundation

of Major Shareholder in

Integrated Agricultural

Industry

Ongoing Improvement with

Innovative Technology

Innovative Technology and

Experienced R&D Team

Company Overview

7

Company Overview

ACE at a Glance

Innovative

Private

Power

Producer

for

Absolute

Clean

Energy

Co-generation (1+0)

114.35 MW

Solar (4+2)

5.02 MW

MSW (1+1)

11.0 MW

Biomass (9+14+1)/1

291.0 MW/132+1 Power Plants/1

(15 in Operations)

411.47+9.9 MW/1

Expected Installed Capacity

1 GW (Gross)

+36% MW CAGR/2

Remark: /1 Including APP’s capacity MW of 9.9, Currently, APP’s shareholders sent LOI for APP share purchase proposal to ACE

/2 Compound Annual Growth Rate in term of MW from 2019-2024

8

Company Overview

ACE’s Biomass Powerplant (9+14+1, 291 MW)/1,/2

ACP1 Ban Bueng

ACP2 Phonthong

ACP3 Bo Ploy ABA1 Thoen

ALCP1 Si Chiang Mai

ALCP2 Sirindhorn

AAPP2 Chokchai

AAPP1 Tanee

AAP1 Nam Phong


/2 Capacity MW

9

Company Overview

ACE’s MSW Powerplant (1+1, 11MW)/1

MSW Khon Kaen

Remark: /1 Capacity MW

10

Company Overview

ACE’s Co-generation Powerplant (1+0, 114.35 MW)/1

AAA ChachoengsaoRemark: /1 Capacity MW

11

Company Overview

ACE’s Solar Powerplant (4+2, 5.02 MW)/1

Remark: /1 Capacity MW

SOLAR ROOFTOP 2 Project

Chok Chai, Nakhon Ratchasima


(Extension), Sri racha, ChonburiSOLAR ROOFTOP 1 Project

Sri racha, Chonburi


Mueng, Samut Sakhon

12 Strictly Private & Confidential

Company Overview

Source: ERC, company website/annual report

Remark: /1 Average capacity of all powerplant type of ACE

/2 Feedstock burn capacity for biomass powerplant

Innovative

Private

Power

Producer

for

Absolute

Clean

Energy

ACE at a Glance

Feedstock Burn CapabilityACE: Up to 65% moisture

content/2 of mixed

fuel

Others: Up to 40%

Largest Portion Bidding Winner in

the SPP Hybrid Firm Bidding

Unit : MW

>90% Capacity Factor/1

Biomass: 98% > Listed Peer : 94%

MSW: 96% > Listed Peer : 72%

Cogeneration: 82% > Listed Peer: 80%

196

76


85.2

209.5 210.5 212.2214.47

421.37 421.37

1,000

2016 2017 2018 2019 2020 2021 2022 2024

421.37

“To be the world practical model of Clean energy powerplant, which is responsible for environment, society, and shareholders”

1979/1 (40 years

ago): Shaiyo Triple

A Group

Board of directors

have experienced to

lead rice, corns,

cassavas and

woodchips producer

and exporter, has

expertise in

agriculture industry

and R&D in the fast

growing tree and

intrigued in exploring

the energy sector.

2016:

First COD of VSPP

“ALCP” MSW Power

Plant

2015:

Established

Absolute Clean

Energy (ACE) as a

Holding Company

with initial paid-up

capital of THB 0.5

mm.

2017:

First COD of SPP

“AAA” Cogeneration

Power Plant

2017:

Won and secured 4

SPP Hybrid Bidding

of total 93 capacity

MW

2018:

First COD of VSPP

Solar Rooftop

2012:

First COD of VSPP

“ACP1” Biomass

Power Plant

2024:

Expected to secure

an installed capacity

of 1,000 PPA MW

and becomes

Thailand’s largest

biomass power

producer

2022:

Estimated to

COD all

projects/2

(421.37 MW)/3

Unit: MW

ACE’s Key Development MilestonesCompany Overview

Remark : /1 http://www.saaa.co.th/SAA_ENG/home.php

/2 Estimated timeline: Currently, Arbitration result states that PEA has to return PPA to ACE and with the assumption that normally power project’s

construction period is approx. 2 years

/3 Including APP’s capacity MW of 9.9, Currently, APP’s shareholders sent LOI for APP share purchase proposal to ACE

ACE’s Total Capacity MW/3 over time

2019:

Listed in Stock

Exchange of

Thailand


A ACE Business Portfolio in Thailand

Power Type

Biomass Co-generation MSW Solar

ACE’s Holding

Stake in Projects100.0% 100.0% 100.0% 100.0% 100.0%

Existing + Pipeline

Projects9+14+1/1 1+0 1+1 4+2

Capacity MW

(Total Capacity

MW)

PPA MW to

Government & IU

(Total PPA MW)

89.1

201.9

114.35

3.56

1.46

6.05.0

Remark: /1 Including APP’s capacity MW of 9.9. Currently, APP’s shareholders sent LOI for APP share purchase proposal to ACE

/2 Electricity Sale Agreement (ESA) with IU

Total: 291.0/1 Total: 114.35 Total: 11.0

Total: 5.02/2

72

164.3190 4.54.4

Total: 236.31/1 Total: 90 Total: 8.9

Total: 5.02

Existing Under Development + Pending for Development

Overview of ACE’s Portfolio

/1

/1

3.56

1.46

COD: 213.01

Pipeline: 208.36

Total: 421.37

COD: 15

Pipeline: 18/1

Total: 33/1

COD: 170.06

Pipeline: 170.17

Total: 340.23

Company Overview


Assets Overview

Surin:

• No. 3

Khonkaen:

• No. 2 and 9

Roi-et:

• No. 5

Nongkhai:

• No. 6

Lampang:

• No. 7

Ubonratchathani:

• No. 8

Chachoengsao:

• No. 10

Kanchanaburi:

• No. 11

Kampangphet:

• No. 18, 19

• SPP – Hybrid

Srisaket:

• No. 27

Supanburi:

• No. 20

Nakornpathom:

• No. 21

Amnatcharoen:

• No. 24

Lopburi:

• No. 25

Krabi:

• No. 17

Pracheenburi:

• No. 26

Ranong:

• SPP - Biomass

▪ Operating projects

▪ Under development projects and

Pending for development projects

Nakhon Si Thammarat:

• 2 SPP - Biomass

COD Biomass

SCOD Biomass

COD Cogeneration

COD MSW

SCOD MSW

SCOD 4 SPP-Hybrid

Solar

Well-Balanced Portfolio with Diversified Locations

Source: Company information as of May 2020

Remark: /1 Including APP’s capacity MW of 9.9, Currently, APP’s shareholders sent LOI for APP share purchase proposal to ACE /2 Estimated timeline: Currently, Arbitration result states that PEA has to return PPA to ACE and with the assumption that normally power project’s construction period is approx. 2 years

Chonburi:

• No. 1, 12, 14, 23, 28

Samut Sakhon:

• No.15

Nakhon Ratchasima:

• No. 4, 13 ,22,29 and 30

TypeInstalled /

Equity MWPPA MW Location

COD / SCOD

DateStatus

1 VSPP - Biomass 9.9 8 Chonburi 24/4/2012

2 VSPP - Biomass 9.9 8 Khonkaen 2/5/2012

3 VSPP – Biomass 9.9 8 Surin 30/10/2012

4 VSPP – Biomass 9.9 8 Nakhon Ratchasima 16/1/2013

5 VSPP – Biomass 9.9 8 Roi-et 4/6/2013

6 VSPP – Biomass 9.9 8 Nongkhai 26/12/2013

7 VSPP – Biomass 9.9 8 Lampang 9/7/2014

8 VSPP – Biomass 9.9 8 Ubonratchathani 14/8/2015

9 VSPP – MSW 6 4.5 Khonkaen 29/11/2016

10 SPP - Cogen 114.35 90 Chachoengsao 10/2/2017

11 VSPP – Biomass 9.9 8 Kanchanaburi 16/8/2017

12 VSPP – Solar Rooftop 1 Chonburi 20/11/2018

13 VSPP – Solar Rooftop 0.73 Nakhon Ratchasima 22/2/2019

14 1 Solar Rooftop 1 Chonburi 27/9/2019

15 1 Solar Rooftop 0.83 Samut Sakhon May 2020 COD

3 SPP – Hybrids

1 SPP – Hybrid93 76.31 2021

EIA process

EIA Approved

17 VSPP – MSW 5 4.4 Krabi Q1 2021 Under Construction

18 VSPP – Biomass 9.9 8 Kampangphet Within 2022

19 VSPP – Biomass 9.9 8 Kampangphet Within 2022

20 VSPP – Biomass 9.9 8 Supanburi Within 2022

21 VSPP - Biomass 9.9 8 Nakornpathom Within 2022

22 VSPP - Biomass 9.9 8 Nakhon Ratchasima Within 2022

23 VSPP - Biomass 9.9 8 Chonburi Within 2022

24 VSPP - Biomass 9.9 8 Amnatcharoen Within 2022

25 VSPP - Biomass 9.9 8 Lopburi Within 2022

26 VSPP - Biomass 9.9 8 Pracheenburi Within 2022

27 VSPP – Biomass 9.9 8 Srisaket Within 2022Under consideration

of Administrative

28 VSPP – Biomass/1 9.9 8 Chonburi Within 2022

Under negotiation

SCOD/2

29 1 Solar farm 0.77 Nakhon Ratchasima 2020 Under construction

30 1 Solar farm 0.69 Nakhon Ratchasima 2020 Under construction

Total Projects 421.37 335.21

Under negotiation

SCOD/2

COD

Under

Development

and pending

for

development

(18 projects)

Existing

Projects

(15 Projects)

2

1

Company Overview


COD

Under Development +Pending for Development

Asia Clean Energy (“ASCE”)

(Holding Company)

100%

(Holding Company)

ACE’s Group Structure


Company Overview

100%100% 100% 100% 100% 100%

Advance

Farm Tree

(“AFT”)

1 VSPP

(9.9 MW)

AFT 1

Advance Asia

Power Plant

(“AAP”)

1 VSPP

(9.9 MW)

AAP 1

(May 12)

Advance Bio

Asia

(“ABA”)

1 VSPP

(9.9 MW)

ABA1

(Jul 14)

100%

Advance

Agro Asia

(“AAA”)

1 SPP

(114.35 MW)

AAA 1

(Feb 17)

Advance

Agro Power

Plant

(“AAPP”)

3 VSPP

(29.7 MW)

AAPP 1

(Oct 12)

AAPP 2

(Jan 13)

AAPP 3

Advance

Clean Power

(“ACP”)

7 VSPP

(69.3 MW)

ACP 1

(Apr 12)

ACP 2

(Jun 13)

ACP 3

(Aug 17)

ACP 4

ACP 5

ACP 6

ACP 7

Operating Company

Operating Assets

100% 100%

Alliance

Clean Power

(“ALCP”)

4 VSPP + 2 MSW

(50.6 MW)

ALCP 1

(Dec 13)

ALCP 2

(Aug 15)

ALCP 3

(Nov 16)

ALCP 4

ALCP 5

ALCP 6

ACE Solar

(“ACE Solar”)

2 SPP + 6 VSPP

(53.02 MW)

Rooftop 1

(Nov 18)

Rooftop 2

(Feb 19)

BPP 1

Bio

Powerplant

(“BPP”)

2 SPP +1 VSPP

(54.9 MW)

BPP 2

BPP 3

Prasatporn

Rungrueng

(“PSPR”)

PSPR 1

1 VSPP

(9.9 MW)

100% 100%

ACE

SOLAR 1

ACE

SOLAR 2

Rooftop 1 expansion

Sep 19

Power

Supply and

Maintenance

Service

(“PSMS”)

Advance

Power Plant

(“APP”)/1

APP 1

1 VSPP

(9.9 MW)

100%

Farm 1 expansion

Farm 1 expansion

Rooftop 3

(May 20)

17

PRANAI SUWANRATH,

Independent DirectorChairman of the Board of Directors

• Current: The Thai Red Cross- Director

• Ex-Chairman of the BOD, MEA

• Ex-Permanent secretary of the Ministry of Interior

CHAROON INTACHAN,

Independent Director• Current: Office of the Council of State- Council

Committee

• Ex-President of the Constitutional Court

• Ex-Secretariat of the House of

Representatives- Constitution Drafting

Committee

• Ex-Justice of The Supreme Court

• Ex-Justice of The Supreme Administration

Court

NUEKRAK BAINGERN,

Independent DirectorAudit Committee, Nomination &

Remuneration Committee

• Current: Advance Life Assurance-

Chairman of the Audit Committee

• Experience: CIMBT- Executive Vice

President- Operation

TEERAWUT SONGMETTA,

Executive DirectorChief Technology & Innovation Officer

• Current: Songmetta Corporation-

Director

• Experience: Advance Agro Asia-

Director

CHONTICHA CHITRARPORN,

Independent DirectorChairman of Audit Committee

• Current: Advance Life Assurance-

Independent Director / Chairman of the Risk

Management Committee

• Current: Dhanarak Asset Development –

Risk Management Committee

JIRATHA SONGMETTA,

DirectorChairman of Executive Committee,

Nomination & Remuneration Committee

• Experience: Double A (1991) – Director• Experience: Thai Power Supply - Director

• Experience: 304 Industrial Park - Director

PORNMETT SONGMETTA,Executive DirectorChief Operation Officer

• Current: Songmetta Corporation-Director

• Experience: Asia Clean Industrial Park –

Director

PATCHANEE SUTHEEVITANUNT,

Independent DirectorAudit Committee, Chairman of Nomination &

Remuneration Committee

• Current: Advance Life Assurance – Audit

Committee

• Experience: Government Pension Fund- Assistant

Secretary General

TANAVIJIT ANKAPIPATCHAI,

DirectorCFO, Management Committee

• Current: Inter Care & Service- Director

• Experience: Shaiyo AA- Executive Director

• Experience: Advance Agro Asia- Co-CEO

TANACHAI BUNDITVORAPOOM,

DirectorCEO, Management Committee

• Current: Synergetic Auto Performance-

Director/the Nomination and Remuneration

Committee

• Experience: TISCO Securities- First Senior Vice

President- Head of Investment Banking

ACE’s Board of DirectorsCompany Overview

18

ACE’s Strategy, Core Value & CompetencyCompany Overview

ACE’s Core Competency

Research &

Development

Innovation for

production

Sustainable

growth

Efficiency

Improvement

ACE’s Strategy

Development for Stakeholders

Systemetic

Management

Managerial

Potential

Development

Production

Innovation

for Efficiency

Long Term

Feedstock

Development

Plan

Profitability

with CSR

Sustainability

ACE’s Corporate Culture

Wisdom

Empower

Synergy

Honest

Adaptability

Enterpreneur

Result

Oriented

Social

Responsibility

ACE’s

Sustainable

Growth

ACE’s Core Value Operation

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