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GE Energy Financial Services

GE Energy Financial Services. e8-GEF-UNDESA-UNESCAP Financing Sustainable Electrification South-East Asia Dialogues Bangkok, Thailand September 8, 2009 James Berner, Managing Director GE Energy Financial Services, Asia. Introducing GE Energy Financial Services.

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GE Energy Financial Services

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  1. GEEnergy Financial Services e8-GEF-UNDESA-UNESCAP Financing Sustainable Electrification South-East Asia Dialogues Bangkok, Thailand September 8, 2009 James Berner, Managing Director GE Energy Financial Services, Asia

  2. Introducing GE Energy Financial Services

  3. GE: Where Energy Financial Services fits GE Capital Energy Infrastructure Technology Infrastructure NBC Universal Aviation Financial Services Commercial Finance Treasury GE Money Energy Financial Services

  4. GE Energy Financial Services (EFS) • Singapore office • opened in Jan 2008 • for SE & E Asia Typical Investment Size $15MM - $125 MM Greenfield & Operating Assets Global equity investor and project finance lender for the energy industry EFS’s 25+ Years in Energy Finance GE’s 100+ Years in Energy Expertise in Renewable Energy US$22 Bn. Assets 22 GW Portfolio

  5. GE EFS Singapore Office: Southeast and East Asia Focus Sectors Core Countries Asia-Pac Offices India IPP Middle East Renewables SE & East Asia Cogeneration Vietnam Philippines Midstream O&G Australia Indonesia Thailand Offshore O&G Malaysia Singapore

  6. GE EFS Renewable Energy Portfolio • Investments across renewable sectors • Equity, preferred equity, venture capital and project finance • Diverse portfolio of turbine providers, regulatory regimes, and financial structures • Large-scale projects in solar PV and hydropower • In Dec. 2008, Renewable Energy Trust Asia (RETA) established to invest in SE Asia & India with Epuron $4 Billion Renewable Energy Portfolio Geothermal 1% Biofuels 3% Solar 5% Venture Capital 1% Biomass 4% Hydro 6% Wind 79% 7,000+ MW

  7. Perspectives on risk and opportunities for renewable power in Asia

  8. 2005 1 Mtoe 2 Mtoe 2020* 5 Mtoe 10 Mtoe The Asia renewables opportunity2005-2020 growth outlook* (non-hydro) • S Korea • Wind • Solar • Japan • Wind • Solar • Vietnam • Biomass • Biogas • Wind • Thailand • Biomass • Biogas • Wind • Taiwan • Wind • Solar • Philippines • Biomass • Biogas • Geothermal • Wind • Malaysia • Biomass • Biogas 20 • Indonesia • Biomass • Biogas • Geothermal * Includes non-commercial renewable fuels Source: Institute of Energy Economics of Japan (2007 forecast, basecase) ; GE Energy Financial Services 25

  9. Renewables policy design: general observations • Investment incentives, especially price-based mechanisms, typically have binary outcomes: either they are attractive enough to drive investment, or not • Renewables schemes should be part of a larger vision, regulatory framework, and planning approach for the energy sector • Policies function best when they address both economic barriers (returns) and non-economic barriers (e.g., obstacles to grid access, poor power market design, lack of information and training, social acceptance issues) are predictable and transparent in order to attract investments incorporate transitional incentives, where necessary, to move technologies towards market competitiveness are tailored to specific technologies take into account the potential impact of large-scale penetration of renewables on the entire energy system ü ü ü ü ü

  10. Renewable energy incentives in Southeast Asia *Biofuels mandates (non-power) **Pending enactment of FITs. Source: Renewable Energy Policy Network for the 21st Century

  11. Conclusions • Most renewable energy more costly to build per MW than conventional power plants • Policy incentives critical to attracting private investment to the renewable energy sector • Predictable long-term tariffs via PPAs best option • Grid access and upgrading transmission infrastructure also important • Investment credits and tax holidays also useful

  12. Contact: James Berner GE Energy Financial Services 240 Tanjong Pagar Rd. #05-00 GE Tower Singapore 088540 Phone: +65 6326 3478 Email: james.berner@ge.com www.geenergyfinancialservices.com

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