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Expanding into renewable energy
markets
CMO – Morten Schøyen
VP Renewable Energy – Ingvar Apeland
20th of January, 2010
THE ELTEK GROUP
Energy and transmission systems for the world’s telecom infrastructure
NeraTel
ENERGY SYSTEMS TRANSMISSION TRANSMISSION,
SATELLITE,
INFOCOMM
Revenue(08): 3.7Bn NOK Revenue(08): 1,8Bn NOK Revenue(08): 0.7Bn NOK
Employees: 2200 Employees: 800 Employees: 500
HQ: Drammen, Norway HQ: Bergen, Norway HQ: Singapore
Eltek ownership: 100% Eltek ownership: 100% Eltek ownership: 50,1%
Listed in Singapore
Slide 2
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20.01.2010
Brief history on Eltek Valere – energy focus
> Launched HE (High Efficiency) rectifiers in 2008 improving
efficiency and reducing losses by 50% compared to
industry standard
• We are still alone!
• This has been a good reason for Eltek Valere’s results 2009.
> The whole telecom industry is following our lead.
• Operators specify high efficiency for their networks
• Competition will follow.
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20.01.2010
UTILIZING HE TECHNOLOGY PLATFORM IN
OTHER BUSINESS AREAS
Telecom Solar chargers Chargers for
Electrical vehicles
Grid connected Solar
inverters
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20.01.2010
Solar Hybrid Energy Solutions
for remote locations
>
FLATPACK HE SOLAR
Solutions - existing
Why not:
-Inaccessible
-High service cost
-Inefficient
-Polluting
Existing 2G & 3G BTS
CONVENTIONAL GENSET SOLUTION FOR REMOTE BTS
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The solution - Hybrid site
Why:
-Reduce OPEX by 80%
-Fast ROI
-Carbon footprint
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20.01.2010
The Telecom solar Hybrid market
> Estimated approximately 500 000 sites running on pure
diesel today
> Mobile expansion into rural areas without or with poor
mains
> In addition to the operational saving, Carbon Credits may
be considered in the financial package.
> For Eltek Valere the business opportunity lies in more turn
key deliveries (typically 20-80 kUSD pr site)
> Our advantage is being a telecom power expert, bringing
integrated telecom solutions to the table
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20.01.2010
Chargers for Electrical vehicles
Another road for HE technology
>
Electric vehicle market
> No longer a matter of if, but a matter of when the market for
electrical vehicles will take off:
• Mc Kinsey:
- “could account for 16% of new cars sales in New York by 2015”
• Patric Pelata (CEO Peugot) :
- “By 2020 one out of three cars sold will be electrically driven.”
> Main factors for success of electrical vehicles
• Battery technology
• Charging infrastructure (AC capacity)
• Charging time
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20.01.2010
Where are we?
> We are launching products now
> Volume delivery is starting in
February to THINK City,
manufactured at Valmet.
> We see a strong interest from
companies of all levels from small
integrators to the large car
manufacturers
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20.01.2010
HE technology for Electrical vehicles
> Unique in the market due to:
• Efficiency
• Weight
• Power density/compactness
• Competitiveness
> Perfect fit (3kW=16A – normal household socket)
> Little product variation for different customers
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20.01.2010
Future possibilities
Charging time will be an
important success criteria
for electrical vehicles
We see technical solutions
that can significantly
reduce charging time and
increase our business
potential
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20.01.2010
GRID CONNECTED
SOLAR INVERTERS
A new business area for Eltek Valere
Ingvar Apeland VP Renewable Energy
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20.01.2010
PV inverters
DC AC
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PV Inverter market
> Estimated USD 2.4bn (6.1 GW) in 2008
> Estimated decline in 2009 with steady growth
from 2010 onwards to USD 4bn in 2013
> In 2008 the top 10 players represented 83% of the
revenue
> Europe by far the largest market due to
government incentives/subsidies now
> Asia and Americas are expected to have higher
growth rate in coming years Source: IMS research
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20.01.2010
Market drivers
> FIT (Feed In Tariff) / Investment support
> PV generated electricity approach grid parity due to;
• decline in PV panel and inverter cost
• Increased cost of electricity due to carbon cost
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Market segmentation
Central Inverters String Inverters
• Monoblocks covering 20kW to MW
• 3-30kW units for residential sites,
plants
• Typically 20kW – 1MW units commercial sites and power plants
• Efficiency 95 - 98% • Efficiency 90 - 97%
• Galvanic isolation internally or at • Galvanic isolation or transformer less
output
CENTRAL COMMERCIAL RESIDENTIAL
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Growth market
Telecom Power
Market Size
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Eltek Valere - Technology for many markets
> Power Electronics competence
• Decades of experience in power
electronis
• High efficiency
• Cost efficient design and manufacturing
Telecom Industrial EV Chargers Grid feed inverter
>Slide 21
Global reach
EMEA
1180 employees
China
335 employees
Americas
335 employees
Asia Pacific
355 employees
Strong presence in all major markets;
Sales in over 100 countries
Worldwide engineering, installation and service
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20.01.2010
Market plans
> Separate business unit
• Dedicated R&D, sales and marketing resources
• Utilizing Eltek Valere existing global operations,
sales and service resources
> Market entry late 2009 using 3rd party products
• Addressing central, commercial and residential
markets
> Launch of own string inverter series at Intersolar in
June 2010
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20.01.2010
Summary
> Investments < 50 MNOK open doors to markets with high
potential
• Eltek Valere is capitalizing on leading power technology
> Solar hybrid solutions for telecom increase our
addressable market in the telecom sector
> Grid Inverters and chargers for electrical vehicles are
expected to represent an important part of our revenue in
the years to come.
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20.01.2010
Vision
THE GREENEST POWER
IN THE INDUSTRY
Slide 25
20.01.2010
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