introduction to glitnir sustainable energy
DESCRIPTION
Introduction to Glitnir Sustainable Energy. Fall 2006. USD. Glitnir is a specialist bank. Glitnir’s key figures USD 27.9 billion total assets USD 4.9 billion market cap. 29.4% avg. ROE past 5 years Record Profits in 2005, 9 months ’06 Strong credit ratings - PowerPoint PPT PresentationTRANSCRIPT
Introduction to Glitnir
Sustainable Energy
Fall 2006
USD
2
Glitnir is a specialist bank
• Glitnir’s key figures
– USD 27.9 billion total assets
– USD 4.9 billion market cap.
– 29.4% avg. ROE past 5 years
– Record Profits in 2005, 9 months ’06
– Strong credit ratings
• Home markets are Norway and Iceland
• Product excellence in Northern Europe
• Focus on niche segments world wide
– Food/ seafood industry
– Sustainable energy
– Offshore vessels/ Shipping
3
Glitnir’s vision
• Glitnir’s Vision:
Initiating and embracing sustainable success.
• Corporate Banking Vision:A focused player in niche segments and products
Segments and products that build on knowledge and network and we can become one of the best operators.
4
Long history of consolidation & diversification
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Glitnir Bank’s Mission in Sustainable Energy
To be a leading financial services company serving the global sustainable energy sector.”
“Glitnir has a unique interest in the Geothermal sector and emphasizes that especially.”
Glitnir’s Center of Excellence in Sustainable Energy holds: • An experienced team of professionals focused on this important and growing sector.
• Deep industry expertise and knowledge on the sector.
• Strategic partners with leading positions in the sector.
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Home markets unique base
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Glitnir - Niche focus global reach
Glitnir Offices Glitnir Activities New Office in ‘06
High-Temperature Geothermal Provinces (Schematically shown)
Source: GeothermEx Inc., Glitnir Research
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Geothermal electricity & central heating
GWh
United States 17.917
Phillipines 9.253
Mexico 6.282
Indonesia 6.085
Italy 5.340
Japan 3.467
New Zealand 2.774
Iceland 1.483
Costa Rica 1.145
Kenya 1.088
El Salvador 967
Electricity Production Direct Use*
GWh
China 12.605
Sweden 10.001
United States 8.678
Turkey 6.901
Iceland 6.806
Japan 2.862
Hungary 2.206
Italy 2.099
New Zealand 1.969
Brazil 1.840
Georgia 1.752
Source: Electricity – Bertani, Direct Use – Lund, Freeston, Boyd (all Geothermics, with data of 2005)
Annual Energy Produced/ year *e.g. heating, Use/ year
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Niche with strong potential
100.000
46,80
20.000
40.000
60.000
80.000
100.000
2000 2020 est.
51,5
1.000
0
200
400
600
800
1.000
2000 2020 est.
Global Geothermal Use
Direct use (TWh)Electricity generation (TWh)
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Geothermal market
• Increased demand for sustainable energy solutions worldwide
• Our primary focus is geothermal
– New and interesting developments in Iceland
• Geothermal is key to driving economic prosperity
– China Xianyang district heating project, in co-operation with Sinopec, indevelopment stage
– Interesting projects in the United States & Europe
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Why Geothermal?
• Lower generation cost than other renewables, such as wind and solar
• In the EU, geothermal potential for energy production more than wind and solar combined
• In the US geothermal could provide up to 30.000 MW of power or 6% of today’s electricity demand
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China - geothermal district heating in Xianyang
Geothermal District Heating in Xianyang
• Joint project by Enex-Kína, Shanxi CGCO Energy Development Construction C. Ltd (Sinopec and Xianyang City Investment Co, Ltd.)
• District Heating system for 100-150,000 people with potential for overall heating for 400,000 people. (450 MW)
• Enex-Kína is a joint company by Enex, Reykjavik Energy & Glitnir.
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Some geothermal plants in Iceland
Nesjavellir – installed, capacity 120 MWe, 290 MWth, Reykjavik Energy, serving capital area, production of electricity and district heating.
Hellisheidi – installed capacity 300 MWe, 400 MWth (by 2015), Reykjavik Energy, serving capital area, in development, to produce electricity and district heating
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In conclusion - Why Glitnir Bank?
• Has very strong financial background
• Comes from a Geothermal environment
• Has unique interest in the Geothermal sector
• Is working with the sector as a complete financial partner
– Advisory
– M&A
– Lending
– Providing Equity
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From coal to cool – but warm!
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Glitnir – Sustainable Energy Team
Magnús BjarnasonManaging Director Region Asia & AmericasDirect line: +354 440 4523Mobile: +354 844 [email protected]
Árni MagnússonDirector Sustainable Energy
Direct: +354 440 4688Mobile: +354 844 [email protected]
Jóhannes Hauksson Senior Business Manager
Direct: +354 440 4514Mobile: +354 844 [email protected]
Michael RichardDirector
Mobile: +1 (508) 878 [email protected]
Alexander RichterAnalyst
Direct: +354 440 4766Mobile: +354 844 [email protected]
www.glitnirbank.com