spcg corporate profile

8/10/2019 SPCG Corporate Profile

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SPCG Public Company LimitedSET Opportunity Day Q3 2011

November 29, 2011

Website: http://www.spcg.co.thE-mail: [email protected]


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Outline

Corporate Overview

SPCGs Businesses

Solar Farm Development by SPC

EPC and O&MM Services by SPC

Steel & Solar Roof Business

SPCG Performance for Q3 2011

Financial Highlights

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Corporate Overview

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1993Founded

Company Profile

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THB 840,000,000Registered

Capital

20 December 2005 Listed in mai market

First TradeDate

Miss Wandee Khunchornyakong Chairman & CEO

Mr. Chanchai Kultavarakorn Executive Chairman

Mr. Prasit Ounvorawong Executive Director Mr. Somsak Khunchornyakong Executive Director

Mr. Kevin Gerald Parnell Executive Director

Mr. Jirakom Padumanon Director

Mr. Kiatichai Pongpanich Audit Committee Chairman & Independent Director

Dr. Art-ong Jumsai na Ayudhya Audit Committee Member & Independent Director

Asst. Prof. Dr. Siripong Preutthipan Audit Committee Member & Independent Director

Directors

Merged on 28 March 2011

THB 500 mm + THB 340 mmPO: 60 mm shares

W: 280 mm units


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Corporate Structure

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Total of 34 Solar Farm Projects


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SPCGs Businesses

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Solar Farm Development bySPC

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Founded: 1996

Registered Capital:

THB 450,000,000

Business:

Solar Farm Developer

EPC Services

OMM Services

Solar Power Company Limited (SPC)

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34 Solar Farm Projects

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34 Signed PPAs of 6 MWp with PEA

Total capacity of 204 MWp

Construction & COD plan: 2013

PPA: Power Purchase AgreementPEA: Provincial Electricity Authority of Thailand


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Adder Policy for Solar Energy

Adder:8 THB/kWh for 10 years

Base Tariff:- Peak Time: Weekdays (09.0022.00)

- Off-Peak: Weekdays (22.0009.00) & Holidays

Ft: Fuel Ad justm ent Charge

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AdderBaseTariff

Ft11.739

THB/kWh*

*Note: on averageUpdated October 2011


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Ratchaburi Electricity Generating Holding PCL

(RATCH)

International Finance Corporation (IFC)a member of World Bank Group

Energy for Environment Foundation (EFE)

Strategic Shareholding Partners

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Thai Fa Power Co., Ltd. (TFP)


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Thanachart Bank PCL (TBANK)

International Finance Corporation (IFC)

IFC Loan

Clean Technology Fund (CTF)

Syndicated Loan

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Kasikornbank PCL (KBANK)

Lead arranger of syndicated loan for local banks

Bank of Ayudhya PCL (BAY)


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IFC Loan & CTF

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Longer repayment terms

than local banks

Lower interest rate

The first company to get CTF

from World Bank in Thailand

Fixed low interest rate

Longer repayment period

than IFC loan

IFC Loan CTF


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ProjectNo.

Solar Farm Project Name ProjectCode

D/ERatio

Project Financing

1 Solar Power (Korat 1) Co., Ltd. SPKR1 60:40

2 Solar Power (Sakon Nakhon 1) Co., Ltd. SPSN1 70:30

3 Solar Power (Nakhon Phanom 1) Co., Ltd SPNP1 70:30

4 Solar Power (Korat 2) Co., Ltd SPKR2 70:30

5 Solar Power (Loei 1) Co., Ltd SPLO1 70:30

6 Solar Power (Khon Kaen 1) Co., Ltd SPKK1 70:30

7 Solar Power (Korat 3) Co., Ltd SPKR3 75:25 Syndicated Loan



D/E Ratio

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Business Development

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5 Solar Farms:SPKR1

COD: 21 Apr 2010

SPSN1

COD: 9 Feb 2011

SPNP1COD: 22 Apr 2011

SPKR2

COD: 13 Sep 2011

SPLO1

COD: 15 Sep 2011

11 Solar Farms:4 Solar Farms under

construction

SPKK1

SPKR3

SPKR4

SPKR7

7 Solar Farms

Land acquisition

20122013

18 Solar Farms

Note: COD = Commercial Operation Date

Solar Power Company Limited

2011201220102011


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Solar Farms

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Solar Power (Korat 1) Co., Ltd. (SPKR1)

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51.07%

19.64%

14.29%

15.00%

Shareholding Structure

SPC

IFC

EFE

TFP

Project Information Project No. 1

Project Name SPKR1

Location Nakorn Ratchasima

Capacity 6.123 MW

Project Progress 100%

COD 21 Apr 2010

Equity THB 280 mil

Project Financing Kasikornbank

D/E Ratio 60:40


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Solar Power (Korat 1) Co., Ltd.: The First

Largest Solar Farm in Thailand & ASEAN

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Picture of Solar Power (Korat 1)


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Solar Power (Sakon Nakhon 1) Co., Ltd.

(SPSN1)

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51%

9%

10%

30%


SPC

IFC

EFE

TFP


Project Name SPSN1

Location Sakon Nakhon

Capacity 6.123 MW


COD 9 Feb 2011

Equity THB 189 mil


D/E Ratio 70:30


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Picture of Solar Power (Sakon Nakhon 1)


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Solar Power (Nakhon Phanom 1) Co., Ltd.

(SPNP1)

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51%

9%

10%

30%


SPC

IFC

EFE

TFP


Project Name SPNP1

Location Nakhon Phanom

Capacity 6.123 MW


COD 22 Apr 2011

Equity THB 189 mil


D/E Ratio 70:30


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Picture of Solar Power (Nakhon Phanom 1)


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56%44%


SPC

TFP


Project Name SPKR2


Capacity 6.123 MW

Project Progress > 90%

COD 13 Sep 2011

Equity THB 189 mil

Project Financing Syndicated loan

D/E Ratio 70:30


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Solar Power (Korat 2) Co., Ltd.

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Solar Power (Korat 1) Co Ltd &


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Picture of Solar Power (Korat 1) and Solar Power (Korat 2)

Solar Power (Korat 1) Co., Ltd. &


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Solar Power (Loei 1) Co., Ltd. (SPLO1)

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56%44%


SPC

TFP


Project Name SPLO1

Location Loei

Capacity 6.123 MW


COD 15 Sep 2011

Equity THB 189 mil


D/E Ratio 70:30

S l P (Kh K 1) C Ltd


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Solar Power (Khon Kaen 1) Co., Ltd.

(SPKK1)

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70%

30%


SPC

TFP


Project Name SPKK1

Location Khon Kaen

Capacity 6.123 MW


Expected COD Q1 2012

Equity THB 189 mil


D/E Ratio 70:30


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60%40%


SPC

RATCH


Project Name SPKR3


Capacity 6.123 MW


Expected COD Dec 2011

Equity THB 195 mil


D/E Ratio 75:25

Solar Power (Korat 4) Co Ltd (SPKR4) &


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Solar Power (Korat 4) Co., Ltd. (SPKR4) &


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60%40%


SPC

RATCH

Project Information Project No. 8 & 9

Project Name SPKR4, SPKR7


Capacity 6.123 MW


Expected COD Q2 2012

Equity THB 195 mil


D/E Ratio 75:25


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Corporate Social Responsibility (CSR)

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Clean energy

No pollution

No noise

No wastes

Create jobs for local people

Solar Farm Education Center to educate students, related

government agencies, private institutions and interested general

public

Save 4,800 tons of CO2/solar farm project, or equivalent to planting

12,000 ~ 16,000 trees*

*Source: McHale, M.R., McPherson, E.G., and Burke, I.C. , 2007. The potential of urban tree plantings to be cost effective in carbon

credit markets. Urban Forestry & Urban Greening,6, p.49-60.


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Picture of Solar Farm Education Center

Solar Farm Education Center

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Picture of Solar Farm Education Center


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EPC and O&MM Services bySPC

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E Engineering & Planning

P Procurement and delivery

C Turn-key construction

EPC Services

The full service package in the solar farm segment

in Thailand and Southeast Asia.


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Engineering & Planning

A team of engineering experts from Thailand.


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MonitoringSystem

SMA Inverter

Hot DippedGalvanized

SupportStructure

MainDistributionBoard :MDB

Electric

Boxes

Cables

Transformer

KyoceraSolar Module

Procurement of Main Equipments

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Construction of Solar Farms


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Monitoring Services

47Picture of Solar Power Engineering Co., Ltd.


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Monitoring Services

48Picture of Solar Power Engineering Co., Ltd.


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Steel & Solar Roof Business

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Steel & Solar Roof Company Limited


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Founded: 2011

Registered Capital:

THB 10,000,000

Business:

Metal roofing sheet

Steel structure

Solar rooftop

Steel & Solar Roof Company Limited

(SSR)

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Crimp curved

roofing sheets

St l & S l R f


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Steel & Solar Roof

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Manufacture Distribute Installation


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P j t R f


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Project Reference

53Picture of Impact Challenger

P j t R f


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Project Reference

54Picture of Sangchai Equipment Ltd. Part.


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SPCG Performance for Q3 2011

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Financial Highlights

Comprehensive Income of SPCG & SPC


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Comprehensive Income of SPCG & SPC

for 9 Months ended 30 September 2011

SPCG-

Consolidated% SPC %

Ended 30 Sep 2011

(Unit: million THB)

Selling of electricity 178.00 47.9% -

Income from steel business 193.90 52.1% -

Income from construction work - 0.0% 386.20 95.8%

Service income - 0.0% 16.80 4.2%

Dividend income

Total income 371.90 100.0% 403.00 100.0%

Cost of Sales (208.20) -56.0% (308.60) -76.6%

Gross Profit 163.70 44.0% 94.40 23.4%

SG&A (75.60) -20.3% (28.80) -7.1%

Profit from Operation 88.10 23.7% 65.60 16.3%

Finance Cost (60.10) -16.2% (6.60) -1.6%

Profit before Other Items 28.00 7.5% 59.00 14.7%

Other Income & Expense 5.10 1.4% 3.90 1.0%

Gain (Loss) on Exchange Rate (0.20) -0.1% - 0.0%

Unrealized Gain (Loss) on Exchange Rate (20.10) -5.4% (0.10) 0.0%

Profit before TAX 12.80 3.4% 62.80 15.7%

TAX (22.50) -6.1% (19.50) -4.8%

Net profit (9.70) -2.7% 43.30 10.9%

Comprehensive Income of 5 Projects


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Comprehensive Income of 5 Projects

for 9 Months ended 30 September 2011

Project 1 Project 2 Project 3 Project 4 Project 5

KR 1 % SN1 % NP1 % KR 2 % LO 1 %

COD 21 April 2010 9 Feb 2011 22 April 2011 13 Sept 2011 15 Sept 2011

Selling period 9 months 7 months 19 days 5 months 5 days 18 days 16 days

Ended 30 Sep 2011

(Unit: million THB)

Selling of Electricity 74.60 100.0% 58.50 100% 37.40 100% 4.20 100.0% 3.30 100%

Cost of Sales (25.50) -34.2% (18.80) -32.1% (13.00) -34.8% (1.40) -33.3% (1.30) -39.4%

Gross Profit 49.10 65.8% 39.70 67.9% 24.40 65.2% 2.80 66.7% 2.00 60.6%

SG&A (2.70) -3.6% (2.80) -4.8% (2.40) -6.4% (1.20) -28.6% (1.20) -36.4%

Profit from Operation 46.40 62.2% 36.90 63.1% 22.00 58.8% 1.60 38.1% 0.80 24.2%

Finance Cost (15.40) -20.6% (11.40) -19.5% (11.00) -29.4% (3.30) -78.6% (1.60) -48.5%

Profit before Other Items 31.00 41.6% 25.50 43.6% 11.00 29.4% (1.70) -40.5% (0.80) -24.3%

Other Income & Expense 0.10 0.1% 0.00 0.0% 0.00 0.0% 0.70 16.7% 1.20 36.4%

Gain (Loss) on Exchange

Rate0.00 0.0% (5.60) -9.6% (5.60) -15.0% 5.10 121.4% 2.50 75.8%

Profit before TAX 31.10 41.7% 19.90 34.0% 5.40 14.4% 4.10 97.6% 2.90 87.9%

TAX 0.00 0.0% 0.00 0.0% 0.00 0.0% (0.70) -16.7% (0.30) -9.1%

Net profit 31.10 41.7% 19.90 34.0% 5.40 14.4% 3.40 80.9% 2.60 78.8%


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