P36 Station Energy Services

Transcription

1 P36 Station Energy Services CTI PFAN West Africa Regional Coordinator Albert Boateng albert.boateng@ppl-int.com Phone : (233) Mentor Olugbolahan Mark-George omg@markgeorgeconsultants.com Phone :

2 RENTING SOLUTIONS FOR SOLAR INNOVATIONS

3 Executive summary Objective: Developing a network of microfacilities powered by solar energy to answer basic off-grid needs Vision: Empowering rural communities with high quality services thanks to innovation Business model: Renting micro-facilities (with purchasing option) to B2B customers Senegal, Côte d Ivoire, Uganda, and Burkina Faso 10M of CAPEX to deploy 250 microfacilities in 5 years Financial Ask: 500k 200k for 20% of equity shares 300k of shareholder debt IRR: 30%

4 Integrated solution Retailing innovation Panafrican commercial and technical network with Station Energy Technical Innovation: Innovative autonomous facilities thanks to solar energy Financial innovation Hybrid solution thanks to the equity crowdfunding model Invest.In 2015

5 THE GROUP Sustainable technology & social impact

6 Station Energy Group Station Energy Group, created in 2012, develops and installs innovative solutions for access to energy and basic services. Our technical engineering and financial competencies enables us to deliver an integrated approach to project development resulting in outstanding solutions for our customers. A research department installed in a university research center 3 subsidiaries and 2 franchises in Africa 15 direct employees More than 1000 realized projects An international partners network Station Energy 2015

7 Track record September 2015 September 2014 Subsidy REEEP 250k Bank loan 200k 250 micro-facilities in 2020 September 2013 Distributing partnerships BF Turnover 540k Turnover 1M Capital increase 400k Turnover 270k February 2012 Distributing partnerships Sn & CI Capital increase 100k Bank loans: 175k Invest.In 2015

8 Innovation & awards Station Energy s concepts were rewarded at various international contests : National Energy Globe Winner Cote d'ivoire 2015 Laureate 2015 of the Fondation Norbert Ségard 2nd prize 2014 of the Orange contest of the Social Entrepreneur in Africa 1st prize of the ICI 2014 contest - Côte d Ivoire 1st place in the 2012 EMEA Global Social Venture Competition 1st place in the 2011 ABC Innovation contest - African Business Club & ESCP Europe Station Energy 2015

9 Organization & Skills Executive committee Jérôme Brasseur - CEO Alexandre Castel - Chairman Patrick Reynaud CTO Local management Julie L allier CFO Diaty Coulibaly - Senegal Pauline Salançon Côte d Ivoire Mickaël Guiré Burkina Faso Technical Sales Team Financing solution Station Energy 2015

10 Partners Financial Partners Commerci al Partners Civil society Corporate partners Technology partners R&D Station Energy 2015

11 OUR PRODUCTS ECO-Facilities

12 Water Pumping Applications: Gardening: pumping, storage and irrigation Water supply: network via terminal fountains Drinking water treatment: membrane system and optional UV lamp Technique: HMT: from 0 to 100m Debit: from 5 to 40 m3/day Power: between 3 and 20kWp Direct coupling of the pump to the photovoltaic system (without battery) 2 year warranty associated with a maintenance contract #solarpumping #watertower Station Energy 2015

13 Cold Room Technique: Applications: Farmers: storing fruits and vegetables Fishmonger : storing fish Meat man: storing cut meat Sanitary body retention (mortuary) or vaccines PATENTED! Container 20 or 40 feet Temperature : positive (+4 C) or negative (-18 C) Thermal Insulation of 150 mm in polyurethane Data recording and monitoring via Internet 3 year warranty associated with a maintenance contract Optional internal shelves #withoutmaintenance #coldchai Station Energy 2015

14 Multi-services Boutique Application: Multiservices shop Fast food Internet cafe (3G or Sat) Banking micro-agency Health Center etc. Technique: Container 20 or 40 feet Power: from 2 to 20kWc (roofing) Single or three-phases system 3 year warranty associated with a maintenance contract (excluding batteries) #customized #container Station Energy 2015

15 Electricity Applications: Technique: Villages: micro-network with prepaid meter system Companies: securing a business and cost reduction (public institution, industry, mining, hotel, etc.) Independent solar central or hybrid diesel Single or three-phases system Power between 5 and 100kWp 3 year warranty associated with a maintenance contract Optional internet monitoring #micronetwork #prepayment Station Energy 2015

16 Business Model Innovation leasing

17 The Social Quest Station Energy 2015

18 An integrated development strategy A comprehensive offer Crafstmanshi p and industrial development: «Electricity» A NETWORK OF MICRO-FACILITIES FOR INCLUSIVE DEVELOPMENT Improvement of living standards and economical diversification : «Services» Increase of agricultural productivity: «Water» Supply chain management and postharvest losses: «Cold» For a top-down distribution approach Large corporates: Agro-industries, Banks, Retailing Companies, Mobile operators, etc. NGOs and Public Agencies Cooperatives and SMEs BoP Station Energy 2015

19 Business model Invest.In Investors (VC, PE, DFIs, Crowdfunding, ) Technical Service Agreement STATION ENERGY (Local Subsidiary) Investing in CAPEX (owner of physical assets) Monthly Rents ECO-facility 1 ECO-facility 2 ECO-facility 3 ECO- facility 4 ECO-facility Pay for services Beneficiaries Invest.In 2015

20 Product analysis Solar Multiservice boutique Solar Cold Room Solar pumping CAPEX Costs Annual Maintenance cost % of the total cost= 3, % of the total cost= 2, % of the total cost= 500 Monthly rent Return on investment (CAPEX) Internal Rate of Return (10 year amortization) 930 4,8 years 12% ,7 years 36% years 44% Electricity N/A N/A N/A N/A N/A Station Energy 2015

21 Risk analysis and mitigation strategies Impact Market risk Independent market study Expressions of interests Pipeline (50 orders) Credit risk Interest rate determined by initial project risk assessment Deposit Ability to remotely shut off installations Easy-to-remove installations Probability Technology risk Proven technology with only 1 st - class products 10-year constructor warranty Test phase realised Independent technical assessor (ENEA) Competitive risk Pilots: 1 st mover advantage Patent Integrated marketing offer

22 SWOT Analysis S T R E N G T H S O P P O R T U N I T I E S Our expertise An innovative range of independent energy infrastructure solutions Lack of infrastructure in off-grid areas A widespread social need A dramatic need of B2B services Development of agri-business aligned with national development strategies A common need across African countries A panafrican network of technical and commercial skills A project management support and customized financial solutions Substitutes Modular or prefabricated buildings Traditional mobile cold rooms Solar powered plants in a container Traditional installations powered by gensets Limits Makeshift solutions difficult to access, expensive, polluting and dependent from fuel prices Logistic constraint to access isolated areas Financial limitations with few integrated offers for the final customers No relevant financing solution Scattered investment capabilities of final beneficiaries OPEX model prefered by corporates Average financing need 30-50k Out of Microfinance s reach and too small for infrastructure development projects Too innovative a business model Need to increase customer awareness through communication campaigns and sentization workshops Need to convince investors and banks Repayment issues W E A K N E S S E S T H R E A T S Station Energy 2015

23 BUSINESS PLAN Financial projections

24 A profitable model of operational lease based on strong intra-group synergies 3,000,000 2,500,000 2,000,000 1,500,000 1,000, ,000 ELECTRICITY WATER SERVICES COLD Revenues (EUR) With over 250 microfacilities generating revenues in 4 to 5 countries, Station Energy intends to build a unique infrastructure network to answer as soon as possible the basic needs of African isolated areas Profitability analysis EBITDA (k ) Return on Capital 0% 16% 26% 35% 33%

25 A leveraged model of financing 4,500,000 4,000,000 3,500,000 3,000,000 2,500,000 2,000,000 1,500,000 1,000, ,000 Financing structure (EUR) Bank debt Shareholders' debt (from crowdfunding) New Money Auto-financing (EBITDA) Investments + Change in Working Capital Profitability analysis Expected IRR 30% Economic profitability (ROCE) 2% 7% 9% 10% 10% Return on Capital 0% 16% 26% 35% 33% Leverage effect 1% 4% 7% 11% 14% Financing ask for the 1st round : Equity: 200,000 for 20% of the Quasi capital: 300,000 of debt Board seats Exit Strategy: Buyback by the promoter Energy Services Buyback by an industrial / expert Station Energy 2015

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