Market Research Sweden - Wind Energy Market in Sweden 2009

Wind Energy ‐
Wind Energy Sweden
September ‐ 2009

Executive Summary

 Sweden has a liberalized electricity market since 1996
 In 2008, installed capacity was at 1,021 MW
Market
 Plan on generating 30 TWh from wind power by 2020
 Wind energy potential is estimated to be ~540 TWh/year
Wind energy potential is estimated to be 540 TWh/year
 Drivers: Geographical advantages, policies discouraging conventional energy use, Green
Drivers & Certificate System, cost considerations and EU directives
Challenges  Challenges: Legislative shortcomings, negative externalities and weakening of the Swedish crown
 Electricity Certificates – A fixed quota based system for renewable electricity generation
 Climate and Energy Policy – Towards increasing total energy consumption via renewable energy
 Programmes supporting technical development – Funding projects to enhance offshore wind
technology
Government
Government  Vindforsk Programme – Analyzing shortcomings in wind farm applications procedures and grid
Initiatives capacity. Developing cost effective wind power plants and design.
 Grants for R&D – Aimed at environmental sustainability, purchase of technology and development
programmes prior to market entry
 Oth i iti ti
Other initiatives are aimed at developing technical expertise, providing financial incentives and
i d td l i t h i l ti idi fi i li ti d
streamlining the legislative process
 The market comprises of a many players in the utility, turbine manufacturing and consultancy
space
Competition
p  Major Players
Major Players
– Eolus Vind, Nordex and Vattenfall

WIND ENERGY – SWEDEN.PPT 2

•Market Overview
•Drivers & Challenges
Drivers & Challenges
•Government Regulations
•Competition
•Key Developments


Wind power market has been growing in the European Union
due to strong initiatives from the legislature
Overview Installed Wind Energy Capacity
• Wind is the fastest growing power technology in
Europe MW
300,000
• 35% of all additional energy installations in 2008 300,000

were wind power 250,000 +9%
200,000 180,000
• In 2008, the wind turbine market was valued at USD
16.18 bn 150,000
100,000
100 000 80,000
•E i
Estimated growth in offshore wind capability
d h i ff h i d bili 48,031 56,517
64,935
6 93
50,000 34,372 40,500
 2010 ‐ 3.5 GW; 2020 ‐ 35 GW; 2030 ‐ 120 GW
0
2004 2005 2006 2007 2008 2010e 2020e 2030e

Expected Investment in Wind Energy Electricity Consumption Mix
TWh
USD bn 1,370
1,400
300 269 +7% Wind
1,200 35%
250 +146% Hydro
1,000
200 172
Biomass
800 704
150 537 28% Photovoltaic
600 504 25%
14% 15% Geo Thermal
100 400 18%
51% Others
44 69% 66% 3%
50 200 13%
16% 1% 17% 1% 19% 1% 2%
0 0 4%
2008‐10e 2011‐20e 2021‐30e 2005 2006 2010e 2020e


Sweden’s liberalized energy market provides strong
opportunities for players in the wind energy sector
Overview Installed Wind Energy Capacity
• Sweden liberalized its electricity market in 1996, MW
opening both electricity trading and electricity 1,200
1,021
production to competition
d i ii 1,000
+21%
• Established a planning framework of 30 TWh from 788
800
wind power by 2020 600 510
572
442
 20 TWh on land and 10 TWh offshore 399
400 328
• The wind energy potential in Sweden is estimated to
The wind energy potential in Sweden is estimated to
200
be ~540 TWh/year
0
2002 2003 2004 2005 2006 2007 2008

Future Wind Energy Outlook Electricity Production Mix
TWh
• Sweden has the highest renewable energy target, by 154.7
160 148.5 145.1 146.1
2020, of all EU member countries 1%
1% 140.3
1% 1% Wind
140 1%
 Account for 49% of final consumption of energy Hydro
120 40% 47%
• Targeted capacity stands at 1,665 MW in 2010 and 44% 45% 47% Nuclear
100
7,500 – 10,000MW by 2020 Biofuel
80 Others
• Under existing legislation 60
51%
 Generation will reach 8TWh by 2020 40
45% 46% 44% 42%

• Changes in legislation will lead to the target 20
5% 4% 5% 3% 6% 3% 6% 4% 7% 3%
generation by 2020 0
2004 2005 2006 2007 2008


•Market Overview
•Competition
•Key Developments


Drivers and challenges

Drivers
Challenges
Geographical advantages
Geographical advantages
Legislative shortcomings
Policies towards discouraging the use
of conventional energy sources Negative externalities

Green Certificate System
Weakening of the Swedish crown

Cost considerations

EU directives


Geographical location of the country coupled with major
government policies are major drivers in the market
Geographical advantages Impact
• The country experiences strong winds due to its geographical location
• Strong opportunities exist in onshore and offshore energy generation
• Onshore sites face wind speeds in excess of 7ms‐1.. Major growth in this segment has taken
place due to development of facilities in the forests of Sweden as well as in the Northern region
which is suitable for wind power generation
• Strong grid capacity in the south has allowed for the development of offshore wind farms
• Sweden is strategically located in the Baltic Sea region which allows for access to Scandinavian
and northern European markets for exporting energy

Policies towards discouraging the use of conventional energy sources Impact
• The EU‐Directive requires Sweden to generate a substantial fraction of total energy thorough
renewable sources
• Special carbon tax introduced in 1991 is being used as an instrument to discourage the use of
fossil fuels for generating energy and to develop efficient and environment friendly technology
• The tax rate has been increasing substantially since its inception
USD/kg
+8% 0.146
0.15
0.10
0.05
0 05 0.035
0.00
1991 2009


Introduction of Green Certificates and large scale infrastructural
development will boost the market
Green Certificate System Impact
• The Government introduced the green certificate system in May 2003 towards generating
17TWh of energy by 2016 by using renewable sources
• This has had a direct effect on participants across the value chain
 Consumers are required to fulfill a certain quota of energy consumed via renewable energy sources
 Similarly, the producers also must either generate electricity via renewable sources for which green
certificates are distributed by the government or else purchase it from other vendors
• The annual quota obligation has been constantly increasing with strong penalties for non‐
The annual quota obligation has been constantly increasing with strong penalties for non
compliance +27%
USD/MWh 34
27
20
0
2007 2008
• This makes it imperative for consumers and producers to achieve their minimum level of quota
obligation and hence this sector acts as a strong incentive for new and existing players


Feasibility in the usage of renewable energy sources and the growing
cost incentives in the market
Cost considerations Impact
• Recent volatility in the prices of crude oil has affected levels of demand. This will act as a
driver in the market as players are more inclined towards using power generated through
alternative inexhaustible sources of energy
lt ti i h tibl f
USD/barrel Crude Oil Prices
150

100
71.78
71 78
50

0
Aug‐07 Sep‐07 Nov‐07 Dec‐07 Jan‐08 Feb‐08 Jul‐08 Sep‐08 Nov‐08 Dec‐08 Jan‐09 Feb‐09 Mar‐09 Apr‐09 May‐09 Jun‐09 Jul‐09 Aug‐09

• Major fluctuations in crude oil and high carbon costs Fall in Onshore Wind Energy Generation Cost
has made utilities shift their emphasis from USD/kW
conventional to renewable sources of energy 1,400 1,355
• The cost of wind turbine installations has fallen 1,200
1,181 1,127
considerably, primarily due to
considerably primarily due to 1,000
 Growth in production of larger turbines 800
 Enhancement in the efficiency of turbines due to 600
technological developments 400
 Further cost reductions is expected once there is a better 200
balance between demand and supply of wind turbines
0
2007 2010e 2020e


Energy targets set by European Union (EU) is expected to lead to
major growth in the market
EU Directive Impact
• Mandatory targets set by the Directive on the promotion of the use of energy from renewable
sources is expected to lead to a growing market primarily due to
 Government creating policy towards inducing players to enter this segment
 Players expanding or foraying into the renewable energy market towards capitalizing on the strong
opportunity created by the Directive towards meeting the energy standard

Member Share of renewables Share required by
q y Member Share of renewables Share required by
q y
State in 2005 2020 State in 2005 2020

Austria 23.30% 34% Latvia 34.90% 42%

Belgium 2.20% 13% Lithuania 15% 23%
Bulgaria 9.40% 16% Luxembourg 0.90% 11%
Cyprus 2.90% 13% Malta 0% 10%
Czech Netherlands 2.40% 14%
6.10% 13%
Republic
Poland 7.20% 15%
Denmark 17% 30%
Portugal 20.50% 31%
Estonia 18% 25%
Romania 17.80% 24%
Finland 28.50% 38%
Slovak
France 10.30% 23% 6.70% 14%
Republic
Germany 5.80% 18%
Slovenia 16% 25%
Greece 6.90% 18%
Spain 8.70% 20%
Hungary 4.30% 13%
Sweden 39.80% 49%
Ireland 3.10% 16%
United
1.30% 15%
Italy 5.20% 17% Kingdom


Major barrier in the market, complicated application procedure
and legislative delays, have led to cost escalations
Legislative Shortcomings Impact
• The entire process of applying for a permit to develop wind energy facilities to the final
attainment of the permit is extremely cumbersome
• Several permits are required for a single project in accordance with
 The Environmental Code
 The Planning and Building Act
 The Electricity Act as well as other regulations
• The appeal system which comes into play during any dispute is complicated
The appeal system, which comes into play during any dispute, is complicated
 Due to the existence of the large number of regulations several different reviews with possible multiple
appeals, even though it essentially is the same assessment that is made
• Slow political decision making on creating policies towards supporting growth in wind energy is
a major shortfall in the system
• The application procedure varies across plant sizes
 Plant size <1 MW: Building permission from local authorities
 Plant size >1 MW: Building permission from local authorities and countries administrative board
 Plant size >10 NW: Permission is required from the environment court and the government authorities
• Thus the process of applying for permission to begin a project is time consuming and can take
years to be sanctioned leading to major cost escalations and economic risks making the
outcome of practically every project uncertain
• This has deterred players from entering the market


Negative fallouts of wind turbine installations and weakening of
the Swedish crown are challenges the market faces
Negative Externalities Impact
• Wind farms finds strong resistance due to its detrimental effects on land
 Affects valuable areas of biodiversity
 Seen as a threat to the protection of birds
 Occupies large spaces leading to the lack of recreational area
• Offshore windmill farms also have a major impact on
 The seabed and the protection of maritime ecological values
 They lead to visual disturbances
They lead to visual disturbances
 Results in conflicts with other states interests e.g. free passage and the laying of pipelines on the Continental
shelf
 Movement further away from the shore leads to major legal challenges as international interests supersede
national interests
Weakening of the Swedish crown
W k i f th S di h Impact
I t
• Wind power capacity was previously forecasted to grow by 70% to 400 MW. Due to the
weakening of the Swedish crown the market is expected to expand by 150‐200 MW in 2009
• The downgrade in forecast has been primarily due to the weakening of the crown against the
euro which is expected to lead to a hike in prices of wind power farms
• Furthermore, banks have raised their requirements for the investment plans of wind energy
companies which is very capital intensive
• Revenue generated by companies has been shrinking due to the fall in electricity prices in 2009


•Market Overview
•Competition
•Key Developments


Government Initiatives

Electricity Certificates

Climate and Energy Policy

Programmes Supporting Technical Development
Key Initiatives
`

Vindforsk Programme

Grants for research and development in the field of wind energy

Other developments


Government Initiative (1/7)

Electricity Certificates

• The system came into force on 1st May, 2003
Inception & • It was introduced in order to boost the level of renewable electricity generated through a fixed quota based
Purpose system through the disbursement of electricity certificates. This replaced the existing system of public grants and
subsidies

• Electricity producers receive a certificate from the state for each MWh of renewable electricity that they
produce
• These producers have the license to sell these certificates thus providing them with additional revenue
Implementation • Demand for electricity certificates is created by the obligation that electricity suppliers and certain electricity
users are required to purchase certificates corresponding to a particular proportion of their electricity sales
and/or electricity use
• If producers are unable to find buyers of their certificates, the Government must buy them out. Consumers that
fail to buy the required number of certificates are subject to certain penalties

• Plants commissioned after the start of the electricity certificate system are entitled to receive electricity
certificates for 15 years or until the end of 2030, whichever is earlier
Legalities • Plants that were started before the certificate system was introduced are entitled to certificates until 2012
Plants that were started before the certificate system was introduced are entitled to certificates until 2012
• Plants that, at the time of their construction or conversion, received a public investment grant after 15th
February 1998 are entitled to certificates until the end of 2014

• These quotas are revised on a yearly basis with regard to the changing economic scenario and the revised
Dynamism in the
y
demand for electricity generation through renewable sources
d df l t i it ti th h bl
system • This has encouraged the construction of new plants for the growth of renewable electricity generation



Climate and Energy Policy

Targets to be Achieved by 2020
• 50% of total energy consumption will be via renewable energy
50% of total energy consumption will be via renewable energy
• 10% of energy in the transport sector will be accounted for by renewable
energy sector
• 40% reduction in greenhouse gas emissions
 Refers to those sectors not included in the EU Emissions Trading Scheme namely
transport, housing, waste disposal, agriculture and forestry, aquaculture and some other
parts of industry

Initiatives Impact
• Improvement in the electricity certificate • Wind power production will increase tenfold
system in order to meet the increased target • Housing and commercial premises will be
• Establishment of a national planning heated without the use of fossil energy
framework for wind power in order to achieve • The use of fossil fuels for heating is expected to be
a production capacity of 30 TWh
a production capacity of 30 TWh phased out by 2020
phased out by 2020
• Usage of economic instruments such as • By 2050, the country is expected to have a
carbon dioxide tax sustainable and resource efficient energy
• Improvement in the infrastructure for supply with zero net emissions of greenhouse
connecting renewable electricity production
connecting renewable electricity production gases into the atmosphere
to the national grid



Programmes Supporting Technical Development

• In 2003, the Swedish Energy Agency launched a program to support technical development for
Inception and
Inception and large scale offshore plants and plants in artic areas
large‐scale offshore plants and plants in artic areas
Purpose • The aim was to stimulate the market, achieve cost reduction, and gain knowledge about
environmental effects from wind power offshore and in the arctic areas

• Over 2003 ‐2007, the budget was USD 54.47 mn
Investment • The budget sanction over 2008‐12 stands at USD 49.16 mn

Estimated production and estimated year of
Project Recipient Company Support (USD mn) Location
operation
Lillgrund Orestads Vindkraftpark 29.92 Offshore 330 GWh; operating since 2007
285 GWh; planned for 2008 but recently
Utgrunden II E.ON Vind Sverige 9.83 Offshore
postponed
Vindpark Vindpark Vanern Largest Swedish
5.62
5 62 89 GWh; planned for full operation in2009
89 GWh; planned for full operation in2009
Vänern Kraft AB lake
Onshore
Uljabouoda Skellefteå Kraft AB 4.92 100 GWh
artic
Kriegers Flak Sweden Offshore Wind AB 1.33 Offshore No production. Only development program
Vindval NA 4.92 NA No production. Only development program



Vindforsk Programme

• The Vindforsk II programme was conducted between 2006‐08 at a total budget of USD 6.32 mn
Inception & • It was targeted towards developing knowledge in order to facilitate the deployment of wind energy and its
Purpose integration with the power grid
• It focused primarily on the technological developments of wind turbines

• Opportunities for wind power expansion and the barriers created by the permitting process, grid connection
analysis and technical problems
y p
• Sound propagation around offshore wind turbines
• Analyzing wind energy in cold climates – Developing methods to prevent ice from accumulating on rotator
Research Projects blades as well as measuring and detecting ice formation
• Wind turbine design – Towards the optimization of wind farms
• Grid connection – Focusing on ways during the planning and design stages to ensure that wind farms meet the
code requirements of the Swedish National Grid
d f h d h l d
• Operation and maintenance activities

• This programme was extended in Dec 2008 with the introduction of Vindforsk III
• It will be carried out between 2009‐12 with a total sanctioned budget of USD 2.81 mn/yr which will be financed
equally by Elforsk and the Swedish Energy Agency
• The programme will be administered by Elforsk, the Swedish Electricity Utilities’ R&D company
Future • Major focus areas will include
 Analyzing wind resource and establishment
 Develop cost effective wind power plant and design
p p p g
 Optimize functioning and maintenance of plants
 Wind power in the power system



Grants for Research and Development in the Field of Wind Energy

These grants are authorized by the energy agency towards supporting various measures aiming at
environmental sustainability, purchase of technology and development programmes prior to market entry
y, p gy p p g p y

Measures fostering Developments costs prior to
Technology grants
environmental sustainability market entry

• Grants of up to 40% of the
• Technology grants may
additional costs arising for
amount to a maximum of
amount to a maximum of • Entities can receive a
Entities can receive a
a renewable energy plant
bl l
50% of the additional costs reimbursement of up to
compared to a traditional
and do not exceed a total 25% of the costs arising
power plant are provided
of USD 286,678 within a directly from the
while SME’s may be given
period of 3 calendar years development of energy
a subsidy of 50%
y
• Th
These amounts are
t generating technology
ti t h l
• 100% return is provided if
specified by Regulation Nr. products
the applicant proves that it
1998/2006 by the • This subsidy is paid until
is unable to construct the
European Commission as the total subsidy budget is
plant and must guarantee
specified in Forordning
p g exhausted
that the facility will not
that the facility will not
2003:564
receive any further subsidy



• Programme was carried out towards strengthening local activities and
knowledge of wind power with a total investment of USD 1.83 mn in 2008
• Activities under this programme include
Building technical
 Stimulating local wind power development
g p p
expertise
expertise
 Strengthening the competence of key people involved in wind power planning and in
helping municipalities with contacts between actors related to wind power establishment
 Support projects that enhance the quality of education for wind power technicians

• I 1994 h “ i
In 1994, the “environmental bonus” was introduced, reducing taxes on energy
lb ” i d d d i
generated by wind power stations
• From 2003, wind turbines installed before 1st January 2003 were subject to
Financial
transitional regulations providing support for five years, till operating for 25,000
Incentives
hours equivalent to full load
hours equivalent to full load
 Support has been gradually reduced from USD 21.07/MWh to 4.21/MWh in 2007
 The programme has been extended for 2009

• The objective was to facilitate an increase in the expansion of wind power by
compilation of data for environmental impact assessments
il ti fd t f i t li t t
• Projects carried out include
Vindval
 Environmental optimization of foundations for offshore wind power
Programme
 Noise from offshore wind power affecting sea based fauna
 Reasons for support acceptance and resistance to wind power building
Reasons for support, acceptance, and resistance to wind power building
• The programme has been extended till 2012 at a budget of USD 4.92 mn



• The government, after an extensive inquiry process plans on
 Developing the Certificate System s by allowing the Swedish Energy Agency to analyze and develop methods to meet their
Legislative Changes target of 25TWh by 2020 as well as expanding the market for the Certificate System to other countries
 The planning process for wind power is expected to be simplified by removing the doubled permissions process. Thus,
planning will be permitted with one of these permissions

Promoting investments • Swedish Energy Agency has carried out initiatives on behalf of the Government to promote investment by
overseas enterprises in Swedish environmental technology
by overseas
• The aim is also to create strategic alliances between overseas and Swedish enterprises
enterprises
 Sweden signed agreements with the United States, Brazil and China on technological development for renewable energy

R&D Investments by the Government in the Wind Energy Segment
Institution Investment (USD) Project
Lund University, Department of The acceptance of wind power in the open countryside, forest mountains and
469,139
Sociology sea ‐ local conditions for development
Gotland University 280,938 Landscape analysis of the wind: the public's interpretations and values
Cultural Halland 294,984 Wind & Issues ‐ Land‐based wind energies impact on the cultural environment
Lund University, Department of
224,750 Birds and the wind in the forest environment
Ecology
Stockholm University 89,450 Effect of pile driving sound on fish behaviour
Acoustic disturbance of marine life in connection with wind turbines ‐ a
University of Stockholm 90,549
continuation of Lillgrund
Swedish University of Agricultural
y g Planning for impact assessments at the establishment of large scale wind farms ‐
g p g
327,638
327 638
Sciences effects on farmed reindeer


•Market Overview
•Competition
•Key Developments


Players in the Market (1/15)

Company Snapshot: Eolus Vind
Corporate Information Financial Performance
Headquarters Hassleholm Revenue
Revenue Profit
fi
USD mn Profit / Loss USD mn
Founded 1990
80 12
67.6
Planning of wind power plants, 10
Area of Expertise management of wind power installations 60
46.7 8
and consultancyy 40 6
24.1
Hans‐Goran Stennert – Chairman 4
Key People 20
Bengt Simmingsskold ‐ CEO 3.6 2
0 0
2005 2006 2007 2008

Business Highlights
Business Highlights
• Plans on establishing 50 turbines in 2009 at an investment of USD 189.72 mn
• Planned constructions include
• 3 wind turbines in Lund, which is expected to start by 2013; 6 wind power plants in the Mellerud municipality at an investment of USD
4.14 mn; 10 wind turbines in Nordanstig at an investment USD of 50.09 mn; wind farm consisting of 3 wind turbines at Langberget,
4 14 10 i d t bi i N d ti t i t t USD f 50 09 i df i ti f 3 i d t bi tL b t
municipality of Bollnas; 4 wind turbines in municipality Solvesborg; 12 wind turbines between Algered and Annsjon in Nordanstig
• Partnerships
 It is partnering with Olme Vindkraft to construct 16 wind turbines, north of the Swedish town Olme with turbine capacity of 2‐3 MW
 Partnered with Vingkraft to
– Build a wind farm in Hano Bight, south Sweden which will comprise of 500 wind power turbines
– Develop a 28 turbine wind farm in Blekinge



Company Snapshot: Nordex
Norderstedt Revenue
Headquarters
H d Revenue Profit
fi
Founded 1985 2,000 1,750.8 80
60
Area of Expertise Manufacturing wind turbines 1,500
1,187.1
40
Thomas Richterich – CEO
h h h 1,000
1 000 812.6
812 6
20
Key People Bernard Schaferbarthold – CFO 469.4
500 0
0 ‐20
2005 2006 2007 2008

Business Highlights
Business Highlights
• Plans on investing USD 38.85 mn towards the construction of 9 wind turbines on the mountain Manberget in Jattendal
in Swedish municipality Nordanstig
 It is expected to become operation by 2011
 The project is expected to require an investment of USD 25 16 mn
The project is expected to require an investment of USD 25.16 mn
• Plans on developing a wind farm with 9 wind turbine on the mountain Manberget in Jattendal
 The forecasted capacity stands at 22.5 MW



Company Snapshot: Sodra
Headquarters Vaxjo Revenue
Revenue Profit
fi
Founded 1926
3,000 2,733.0 300
2,447.5 2,440.7 2,585.5
Forestry services, wood products, pulp, 2,500 250
Area of Expertise interior, energy – wind, biofuel, district 2,000 200
heatingg 1,500
1 500 150
Lars‐Eric Astrom – Chairman 1,000 100
Key People 500 50
Leif Broden – CEO
0 0
2005 2006 2007 2008

Business Highlights
Business Highlights
• Operates in the wind energy sector through its subsidiary Sodra Vindkraft
• It is planning 30 wind power projects valued at USD 1.13 bn
• They plan on building 250 wind power plants by 2013 producing 600 MW of wind power
• Statkraft, a Norwegian state‐owned utility, plans on acquiring 90% of Sodra’s wind power subsidiary
• Statkraft plans on investing USD 1.40 bn in the company towards developing renewable energy generation
• Strong focus on research activities towards developing enhanced products



Company Snapshot: Vattenfall
Stockholm Revenue
Headquarters
H d Revenue Profit
fi
USD bn Profit / Loss USD bn
Founded 1909 30 4
25.3
25 19.9 20.9 22.1
Area of Expertise Primarily a utility firm 3
20

Lars G. Josefsson – CEO
f 15 2
Key People 10
Dag Andresen – CFO 1
5
0 0
2005 2006 2007 2008

Business Highlights
Business Highlights
• Plans on investing USD 6.48bn in wind power by 2016 in order to generate 8 TWh from wind power
• It is expected to install wind turbines in Stor‐Rotliden, in the Asele region of northern Sweden
 The facility will have a capacity of 80 MW and is expected to be completed in 2010
• Plans to construct 40‐50 wind turbines in Valdemarsvik
 Estimated to cost between USD 196‐280 mn and will generate 240 GWh of electricity/year with construction being planned for 2010
• Plans to establish wind farms with 20 turbines in southern part of Valdemarsvik municipality
 Expected to be completed by 2011
•A i d A
Acquired Amec’s wind energy at an investment of USD 72 mn
’ i d i f USD 72
 Amec will provide consultancy, engineering and project management services for onshore and offshore wind farms



Company Snapshot: AF
Corporate Information Business Highlights
Headquarters
q Stockholm • Developing a joint wind power plan for Swedish
p g j p p
Founded 1964 municipalities Vilhelmina, Dorotea and Asele
 30 sites have been short listed for establishing wind farm
Area of
Consultancy • Initiated plans for a wind farm consisting of ~60 wind
Expertise
turbines on Holmon in the Swedish municipality
Financials ’08: Revenue – USD 706 5mn; Profit – USD
08: Revenue USD 706.5mn; Profit USD
73.6 mn
Umea

Key People Ulf Dinkelspiel – Chairman
Jonas Wistrom – CEO
Company Snapshot: Arise Windpower
p y p p
Headquarters Laholm • Plans on setting up 300 large scale wind turbines
Founded 2006
generating 2 TWh of electricity annually by 2014
•E t d i t
Entered into an MOU with GE Energy for the supply
MOU ith GE E f th l
Area of Manufacturing turbines and developing
Expertise wind farms. Entering the utility space of 57 ‐ 2.5 MW wind turbines
• Developing 10 wind turbines in Knahult in Laholm
Financials ’08: Revenue – USD 1.4 mn; Loss – USD 0.5
mn municipality with 3 MW capacity
Key People Pehr G Gyllenhammar – Chairman
• Plans on constructing 25 wind farms in Soderkoping
Plans on constructing 25 wind farms in Soderkoping
Peter Nygren ‐ MD
at an investment of USD 85.21mn



Company Snapshot: Eon Vind
Headquarters
q Malmo • Plans on developing 5 wind turbines at Skabersjo in
p g j
Founded 2000 Svedala municipality, southern Sweden
• Plans to construct 14 wind turbines in Jonstorp in
Area of
Utility Swedish municipality Osby
Expertise
Financials NA
• Partnered with Nybro Energi to construct 2 wind
power farms with a total of 25 turbines in Nybro
Key People Hakan Buskhe ‐ CEO
 Investment amounts to USD 131.74 and is expected to be
operational by 2012

Company Snapshot: Fred Olsen Renewables
p y p
Headquarters Storuman • Wholly owned subsidiary of Bonheur and Ganger Rolf
Founded 1997 • Participates in site selection, planning and
construction of wind farms
t ti f i df
Area of
Developing wind farm projects • Plans to construct a 33 turbine wind farm in
Expertise
Faboliden in Swedish municipality Vindeln
Financials NA
 The construction is expected to start in 2011 and the
Key People NA operation in 2012
p



Company Snapshot: Goteborgs Energi
Headquarters
q Gothenburg
g • Plans to construct 14 wind turbines in Mark
Founded 1990 municipality
 Investment is valued at USD 70.32
Area of District heating, cooling, gas, powerline,
 Operations expected to begin in 2010
Expertise wind power, electricity trade
Financials ’08: Revenue – USD 614 mn
08: Revenue USD 614 mn
Key People Lennart Elves – Chairman
Anders Hedenstedt – CEO

Company Snapshot: Gothia Vind
p y p
Headquarters Partille • It plans on constructing wind turbines in the Dalsland
Founded NA
county
 11 in Edelskog; 11 in Froskog; 9 in Animskog
11 in Edelskog; 11 in Froskog; 9 in Animskog
Area of
Design, build and operate wind farms • Plans to establish 20 wind turbines in Swedish towns
Expertise
Amal and Saffle
Financials NA
• In 2009‐10 engaged Handelsbanken Capital Markets
Key People Claes‐Goran Lomberg – Chairman as financial advisor in order to expand its equity
as financial advisor in order to expand its equity
Gunnar Eriksson ‐ CEO



Company Snapshot: HS Kraft
Headquarters
q Malmo • It plans on constructing a 12 turbine wind farm in
p g
Founded 2006 Borrestad‐Tollesjo, in Kristianstad
• Plans on completing 20 wind farm projects containing
Area of Works in partnership with landowners
Expertise towards developing wind power in totality 226 wind turbines in Skane and Smaland
 The turbines are expected to produce a total of 1.3 TWh by
Financials NA 2013
Key People Samuel Kocher – President • Plans on establishing 10 wind turbines in association
Ingmar Bjornsson –CEO with Sjonnebols gard outside Saffle

Company Snapshot: Jonkopings Energi
p y p p g g
Headquarters Rosenlund • It invested ~USD 17.46 mn in 3 wind turbines in
Founded 1907
Tuggarp, north of Granna, and a new grid from
Tuggarp to Jonkoping
Tuggarp to Jonkoping
Area of
Expertise
Electricity generation and distribution • At the Torsvik plant, the company produces heat,
electricity and biogas from waste products
Financials ’08: Revenue – USD 141 mn
• It has a hydropower station in Huskvarna and Rottler
Key People Hakan Stig Marker ‐ CEO



Company Snapshot: Krafto
Headquarters
q Stockholm • Plans to construct a 6 turbine wind farm in Laholm
Founded 2006 municipality close to Orkeljunga
 Construction permit process is estimated to last for 3‐4
Area of Operate and develop wind farms in years
Expertise partnership with landowners, local residents
and municipalities  Planning on building wind farms on the peninsula
Hallnas in Swedish municipality Tierp
H ll i S di h i i lit Ti
Financials NA
 Plans on constructing 32 wind power turbines in
Key People Lennart Molvin – Chairman
Swedish municipalities Ljusdal and Bollnas
Samuel Brissman – CEO
Company Snapshot: Markbygden Vind
p y p yg
Headquarters Tavelsjo • Received funding worth USD 9.41 mn from the
Founded NA
Swedish Energy Agency towards the development of
projects in the north with a total planned capacity of
projects in the north with a total planned capacity of
Area of Plans, develops, sells and operates land‐ 2,500 MW
Expertise based wind projects
• Plans to install 1,100 wind turbines with a total
Financials NA
capacity of 4 GW close to the Swedish town of Pitea
Key People Jointly owned – 75% by the Swedish group  This is estimated to be Europe’s largest wind farm
p g
Svevind Holding and 25% by German group  Expected to go on line in 6 stages between 2013 and 2019
Enercon and produce 12 TWh/year



Company Snapshot: O2 Vindkompaniet
Headquarters
q Morbylanga
y g • Its wind farm on mountain Hedbo in Swedish
Founded 2005 municipality Rattvik with 9 turbines became
operational in May 2009 producing 100 GWh
Area of Design, financing and sale of wind power
Expertise projects • It plans on developing 56 wind turbines in Lenhovda
Financials NA
• Plans on constructing up to 57 wind turbines by the
lake Tonsen in Gastrikland county
Key People Paul Stormoen ‐ Deputy CEO
• Received USD 9.69 mn from the Swedish Energy
Agency to develop a 90 MW installation
Company Snapshot: Ownpower
p y p p
Headquarters Visby • Plans on constructing a wind farm consisting of 8
Founded 2005
wind turbines east of Vallsta in Swedish province of
Halsingland
Area of
Design and develop wind energy projects  It is expected to be implemented in 2011
Expertise
 Investment in the project is estimated to be USD 39.04
Financials NA
Key People Jonas Dahlstrom – President
Today Melkersson – COO



Company Snapshot: RES Skandinavien
Headquarters
q Goteborg
g • Plans to construct up to 18 wind turbines on the
p
Founded 2001 mountain Lillfjallet in Harjedalen municipality
• Plan on developing 89 wind power plants in 10 areas
Area of
Builds wind farms in the north‐eastern part of Swedish province
Expertise
Halsingland, close to the Dellen Lakes
Financials NA
 The project is expected to require an investment of ~USD
Key People Anders Barne – CEO 168 mn

Company Snapshot: Skelleftea Kraft
p y p
Headquarters Sundsvall • Plans on constructing 100 wind turbines in Blaiken in
Founded 1906
Soresele municipality
• Pl
Plans on constructing a wind farm with 100 turbines
t ti i df ith 100 t bi
Area of
Expertise
Utility on the mountain Storblaikfjallet between
municipalities Storuman and Sorsele
Financials NA
 Annual production is estimated at 500 GWh
Key People Tf Sture Lestander ‐ CEO



Company Snapshot: Stena Renewable Energy
Headquarters
q Gothenburg
g • Plans to construct 19 wind turbines between
Founded 2006 municipalities Orebro and Lekeberg
 The project will require an investment of USD 69.82 mn
Area of Developing wind farms; Work on planning,
Expertise permit processing, measurements of wind • Plans to establish a 55 turbine wind farm in
and estimates of environmental impacts Tvinnesheda‐Badeboda, in Uppvidinge municipality
Financials NA • Plans on developing 40 wind turbines in Laholm
 The project is expected to be completed by 2010‐11 at an
Key People Goran Danielsson – MD
investment of USD 125.9 mn

Company Snapshot: Sweco
p y p
Headquarters Stockholm • It was commissioned by Blekinge Offshore to prepare
Founded 2000
a permit application and an environmental impact
assessment (EIA) for a wind farm near Blekinge
assessment (EIA) for a wind farm near Blekinge
Area of
Expertise
Technology consultancy • Involved in wind energy assignments for clients like
SCA, Statkraft, Bergvik Skog and Wallenstam
Financials ’08: Revenue ‐ USD 5.5 bn
Key People Eva Q Nygren – CEO



Company Snapshot: Triventus
Headquarters
q Falkenberg
g • Plans on constructing and operating 6 planned wind
g p g p
Founded NA turbines in Slottsbol in Swedish municipality Laxa
• As of 2009, it has 100 wind power projects completed
Area of
Develop wind energy projects or in progress
Expertise
Financials NA
• With the support of Triventus Consulting, it plans to
construct a wind farm containing up to 20 turbines in
Key People Gert‐Olof Holst ‐ CEO municipalities Askersund and Motala

Company Snapshot: Universal Wind Offshore
p y p
Headquarters Malmo • Plans on constructing and operating 108 large wind
Founded 2005
turbine at an offshore wind farm in Stora
Middelgrund outside the Swedish west coast
Middelgrund outside the Swedish west coast
Area of
Develop marine wind farms
Expertise
Financials NA
Key People Bjorn Algkvist ‐ Chairman
Ola Gjejervall – CEO



Company Snapshot: Vaktaren Vind
Headquarters
q NA • Plans on constructing 6 wind turbines, 3.6 km south‐
g ,
Founded 1990 west of Lungsjon in Solleftea municipality
 Annual production capacity of the wind farm is forecasted
Area of to be 40mn KWh
Manufacturing turbines
Expertise
• Plans to establish a wind farm on the border between
Financials NA Swedish provinces of Jamtland and Vasternorrland
S di h i f J tl d d V t l d
Key People NA

Company Snapshot: Vertical Wind
p y p
Headquarters Uppsala • It is expected to become the first Swedish wind
Founded 2002
turbine manufacturer producing vertical axis wind
turbines with a direct‐driven generator
turbines with a direct driven generator
Area of Develop and manufactures advanced wind
 It plans on focusing on wind turbines with a capacity of 1
Expertise power technology
MW or more, installed in large wind farms
Financials NA  The first turbine is under production and will be installed in
Key People Hans Bernhoff ‐ CEO Falkenberg



Company Snapshot: Vindin
Headquarters
q NA • Plans on 5 wind turbines at Skutskar, east Sweden
,
Founded 2006 • Plans on investing USD 0.63 bn by 2013 towards
generating 1 TWh of wind power capacity
Area of
Develop, build and operate wind farms  40 turbine wind farm in Ornskoldsvik
Expertise
 60 turbine wind farm in Jokkmokk and Gallivare
Financials NA
• Planning a wind farm including 500‐1,200 wind
Key People Anders Lyberg ‐ CEO power plants in Markbygden, east of Pitea
 Capacity of the wind farm is expected to be 12 TWh
 Investment is estimated at a total USD 5‐8.4bn
Company Snapshot: Vindvision
p y p
Headquarters NA • Planning a wind farm of 12 wind turbines at
Founded 1988
Brocklingsberget, municipality of Bracke, province of
Jamtland
Area of Wind measurement, obtaining permits,
Expertise construction and operation of wind farms • Plans on constructing 19 wind turbines in Swedish
province Halsingland
Financials NA
 11 turbines in Ljusdal municipality
Key People PO Sater Hall – MD  8 in Bollnas municipality
p y


•Market Overview
•Competition
•Key Developments


Key Developments

Date Development
Aug 2009 Sweden developed the world’s first inland water wind farm which has passed the test stage and is
expected to start exporting electricity to the grid by the end of 2009. The facility is located at Lake Vanern
Wind Park and will use Winwind 3 MW turbines. The municipality of Karlstad owns 5 of the 10 turbines
Wi d P k d ill Wi i d 3 MW t bi Th i i lit f K l t d 5 f th 10 t bi
together with Hammaro municipality.
Aug 2009 Swedish renewable energy systems maker Morphic Technologies plans on selling its wind turbine making
unit ScanWind to GE Energy for USD 17.7mn on a cash and debt free basis.
Jul 2009 Swedish construction group Peab is expected to do the land and concrete work for a wind farm in
northern Sweden. The project is valued at USD 13 mn and is expected to be completed by Oct 2010.
Apr 2009 The Swedish government plans on permitting the installation of 1,101 wind turbines at an investment of
USD 6.9 bn. The environmental assessment delegation recommended that the permit for the project
should be given to Markbygden Vind. This would be Europe’s largest wind farm and will allow Sweden to
should be given to Markbygden Vind This would be Europe’s largest wind farm and will allow Sweden to
meet its target of generating 10 TWh/year by 2015.
Apr 2009 Urasa Vind plans on constructing 6 turbine wind farm by Urasa airfield, in Swedish municipality Tingsryd.
Its target is to make the wind farm operational by 2011.
Mar 2009 Swedish insurance company Lansforsakringar launched an insurance for wind farms in cooperation with
German company Gotthaer Allgemeine Versicherung. The insurance covers the property as well as
consequential losses.
Dec 2008 Norwegian energy company Statkraft and Swedish forestry company SCA plan on building 455 wind
turbines together in northern Sweden. The estimated cost for the project is USD 2.02 bn and will
turbines together in northern Sweden The estimated cost for the project is USD 2 02 bn and will
generate 2.4 TWh.


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Market Research Sweden - Wind Energy Market in Sweden 2009

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