introducing windkraft nord usa, inc - ahk usa - … · · 2011-06-29introducing windkraft nord...
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Florian Zerhusen I June 2011 1Florian Zerhusen I June 2011 1
Introducing Windkraft Nord USA, Inc
Presented by:
Florian Zerhusen
President & CEO
June 28, 2011
Florian Zerhusen I June 2011 2
Corporate ParentFounded: In 1990 in Husum, Germany
(Offices in Italy, Spain, France, Poland, US and more)
Business Model: Independent turn-key wind developer
Employees: 150 employees in 5 countries
Ownership: Siemens acquired a 30% stake in parent company in 2009
Track Record: 65+ wind projects completed to date (1,000MW)
WKN USA: Founded in 2001 by Florian Zerhusen in San Diego
Developed and Constructed 63MW
Developed and advised on over 1,500MW
Currently over 1,000MW in own development
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Industry Value Chain
Manufacturer Developer Owner
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WKN Value Chain
Project Development:• Land Acquisition• Planning (GIA,
PPA, Permits)• TSIA, EPC
Financing:• Turbine Supply
Loans• Construction
Loan• Term Debt• Tax Equity• Project Finance
Construction:• TSIA• BOP• Construction
Management
O&M:• Technical &
Administrative Management
• Optimization & Increase in Efficiency
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Kittlitz, Freyenstein, and Halenbeck, Germany
Project Schedule
Site Identification: 2005
Construction Permit: 03 – 11/2006
Start of Construction: 04 – 10/2006
Commissioning: 06 – 12/2006
Basic Data
Installed Capacity: 44 MW
Turbine Type: 22 x Vestas V80 + V90
Hub Height: 60 – 105 m
Rotor Diameter: 80 – 90 m
Project Customer
Allianz Specialized Investments
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Francofonte City on the Island of Sicily, Italy
Project Schedule
Site Identification: 2001
Construction Permit: 11/2005
Start of Construction: 02/2006
Commissioning: 06/2007
Basic Data
Installed Capacity: 72 MW
Turbine Type: 24 x Vestas V90 – 3.0 MW
Hub Height: 105 m
Rotor Diameter: 90 m
Project Customer
Allianz Specialized Investments
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Cortijo de Guerra, Spain
Project Schedule
Site Identification: 2001
Construction Permit: 07/2006
Start of Construction: 04/2007
Commissioning: 12/2007
Basic Data
Installed Capacity: 42 MW
Turbine Type: 14 x Vestas V90 – 3.0 MW
Hub Height: 105 m
Rotor Diameter: 90 m
Project Customer
EuroTrust, DK
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Snyder, Texas, USA
Project Schedule
Site Identification: 2003
Construction Permit: 1/2005
Start of Construction: 11/2006
Commissioning: 11/2007
Basic Data
Installed Capacity: 63 MW
Turbine Type: 21 x Vestas V90 – 3.0 MW
Hub Height: 105 m
Rotor Diameter: 90 m
Project Customer
Enel North America, Inc.
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Development Differences
Europe North America
Up Front Risk Back End Risk
• Difficult Permitting Process• Simple Interconnection• Offtake Guaranteed
• Relative Simple Permitting• Difficult Interconnection• PPA Challenges
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Market Drivers in the Europe
Pros Cons
• Simple Interconnection process• Governments sponsored “feed-in laws” • Feed-in laws often require utilities to purchase wind power at premium prices• Close to the established manufacturing bases
• Land availability is limited• Relatively smaller projects than in North America• Taxpayers and Rate Payers shoulder the growth• NIMBY issues
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Market Drivers in the US
Pros Cons
• Tax Driven Structureadvantageous to corporations• Utility scale projects create economy of scale • Political and Economic incentives allowed the market to experience tremendous growth
• Smaller players are squeezed out of the market. Less competition.• Small projects struggle to compete for PPA’s• Catch-up needed in transmission and utility incentives to accommodate rapid growth
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Florian Zerhusen, CEO & President
Florian (35) is the founder, CEO and President of Windkraft Nord USA, Inc. Upon graduation from oneof Germany’s leading business schools, he worked to advise companies to strategically expand theirbusiness by raising capital or M&A. In late 2001, he approached one of Germany’s largest winddevelopers, WKN Windkraft Nord AG, with a business plan to establish its US presence andsubsequently built the company from the ground up in San Diego, CA.
He developed the first project within three years, (known as Project Snyder,) and procured andnegotiated TSIA and BOP contracts, construction and term debt, tax equity and off-take hedges.Within four weeks, Florian raised more than $100 Million from Enel North America, the presentowner and operator. Under his leadership, Project Snyder was built on time as well as on budget andis recognized to be the most technologically advanced wind farm built in the US to date, utilizing theVestas V90 3MW turbine on a 105m hub height.
Experienced in all levels of growing a business, he continually develops, creates and executes theStrategic Business Plan. He is responsible for all aspects of establishing, growing and operating thecompany and negotiates all contracts related to the business. Florian has added members to his staffand built a high quality portfolio of projects currently under development that have a potentialtransaction volume exceeding 1 Billion USD. He has achieved high recognition in the market and hasraised over 400 Million USD in equity to date.
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Thank you!
Windkraft Nord USA, Inc.Suite 1470
4365 Executive DriveSan Diego, CA 92121
Phone: (858) 450-6800Fax: (858) 450-6801
www.windkraftnord.com