Erhvervs-, Vækst- og Eksportudvalget 2011-12
ERU Alm.del Bilag 254
Offentligt

SiemensWind Power Division

Michael HannibalCEO Offshore, Business Unit EMEA

Siemens Global StructureSectorsIndustry

DivisionsIndustry automationDrive technologiesCustomer serviceOil & gasEnergy servicePower transmissionSolar and hydroClinical products

Energy

Fossil power generationWind powerImaging and therapy systemsCustomer solutionsDiagnosticsRail systemsMobility and logisticsLow and medium voltage

Healthcare

Infrastructure & Cities

Siemens Energy SectorEnergy products and solutions – in 6 Divisions

Products and Systems in 6 DivisionsFossil PowerGenerationWindPowerSolar &HydroEnergyServicePowerTransmission

Oil & Gas

Siemens Wind PowerFacts at a glanceSiemens Wind Power facts

One of the world’s leading suppliers of wind power solutionsAcquired Danish wind turbine manufacturer Bonus Energy A/S in 2004Installed Base: > 10,600 turbines with > 15,800 MW capacity1)Installed: > 2,900 MW in 2011More than 8,000 employees globallyRecord order backlog of ~ € 12 billion incl. serviceRevenue in 2011: ~ € 3,9 billion2)1) Dec 20112) consolidated on Renewable Energy Division level

Siemens Wind Power is on track for further growth

Clear No. 1 in Offshore

Major German orders (Borkum Riffgrund II, Meerwind)Alliance with Scottish Southern Energy for UK round 3

Enel Green Power onshore order of 1.2 GW frame contractNew direct drive turbines with 50% less moving parts andsignificant weight reduction

SWT 6.0 next generation offshore turbine prototype installed in Høvsøre, DenmarkSWT 2.3-113 for low to medium wind speeds

> DKK 1 billion investment initiated in Denmark

Division structure reflects importance ofthree Business Units and Global FunctionsOrganizational structure for E WWind Power (E W)

Felix Ferlemann (CEO)Wolfgang Hermann (CFO)Americas (AM)Europe, MiddleEast, & Africa(EMEA)Jan Kjaersgaard (CEO)Gerlinde Sturm (CFO)

Chief Technology OfficerCTO – Henrik Stiesdal

Asia Pacific(APAC)Kay Weber (CEO)Bruno Nicol (CFO)

StrategyST – Moritz IngerfeldBusiness ExcellenceEnv. Prot., Health Mgmt & SafetyHuman ResourcesPerformance ControllingRisk & Internal ControlCorporate CommunicationsExport Control and CustomsGeneral Counsel, Legal & Compliance

Engineering (EN)

Mark Albenze (CEO)Karen Lane (CFO)

ONM. Revak

OFT. Mousten

ONH. Reuter

OFJ. M.Hannibal

B. Mueller M.V.Gerhardt

Supply ChainManagement (SCM)

ProjectManagement (PM)

IT & SAPSEC & CR

Line Management

E W organization

E Sector organization

Siemens Wind Power – a global player

In 2011 alone, we have createdmore than 1000 jobs inDenmarkBut Denmark is still the hotspot of theglobal wind industry.150 new positions are stillscheduled to be created thisyear1 billion DKK investments inR&D test facilities in Denmarkare under way

Continuous investment in DenmarkDevelopment of Siemens Denmark facilities19801Brande2Aalborg3Engesvang

2002

2004

2006

2008

2011

(continuous extensions since 2004)

Acquisitionof Bonus

4Ølgod

Brande

Aalborg

Engesvang

Ølgod

Nacelle production,R&D, headquarters3,700 employees86,000 m2under roof,460,000 m2land

Blade production1,100 employees71,000 m2under roof,350,000 m2land

Blade production300 employees16,000 m2under roof,140,000 m2land

Hub production100 employees7,500 m2under roof,34,500 m2land

Groundbreaking of new test center, March 6th2012

CTO Henrik Stiesdal broke the ground for the newR&D test center in Brande on March 6th.The 8,000 sqm. building is expected to be finishedby summer.The facility, with a height of 22 m, will houseprototype production, component testing,laboratories and warehousing

We continue with our strategy4 I strategy

InnovationKey success factor to bring down costsand differentiate Siemens fromits competitorsMakingWind Power competitivewith conventional energysourcesMaintaining leadingposition in windSecuring technologyleadership

IndustrializationKey lever to make wind power affordableand position Siemens as key enabler forenergy change

InternationalizationDrives local accessibility, strengthensregional commitment and gets Siemensclose to its customer

Intensifiedcustomer tiesEnables progress in projectsand technology while deepeningcustomer relations

Continuous investment into new technologyresulted in groundbreaking direct drive turbinesInnovation - Siemens direct drive technology

Introduction of new SWT-3.0-101 direct drive windturbine in April 2010 and the SWT-2.3-113 directdrive wind turbine in March 2011Direct drive technology with no gearboxSimplified design with 50% less parts than inequivalent geared designMore power with compact designMinimizes the cost of energy

Siemens SWT-6.0-154: The next generation offshorewind turbineInnovation - SWT-6.0-154

Direct drive technology with permanent magnetgenerator and a 154 m rotor offers superiorperformance and efficiency.Optimized nacelle layout for excellent serviceability; withthe highest degree of safety and quality in mind.Proven technology, redundancy in critical componentsand rigorous testing for maximized reliability.New low-weight standard for offshore wind turbinesoffering significant cost benefits throughout the entirevalue chain.Industrialization in manufacturing, quality assurance andinstallation, significantly shortening commissioning timefor faster project hand-over.

Prototype installed in Høvsøre Denmark: SWT-6.0-120

Proven IntegralBlade�technology eliminates gluejoints and ensures blade strengthTechnology: IntegralBlade�



IntegralBlade�technology is a closedmanufacturing process invented bySiemens offering high quality in anoptimal working environment.One-shot manufacturing processeliminating the presence of glue joints inthe blade for a robust design.The IntegralBlade�process is based onvacuum-assisted resin transfer molding.The blade is not gel coated as part of themanufacturing process, making itpossible to visually inspect the blade toensure high quality.

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

B75 Mould

From Bonus to the new assembly lineIndustrialization - Brande facilities and 2.3 nacelle production

2004Production:3 x 2.3 MW nacelles per week36 h per turbine

2011Production Capacity:40 x 2.3 MW nacelles per week17.5 h per turbine

Market leader in offshore with > 2 GW installed*Burbo Banks, UK25 x SWT-3.6-107 (2007)Lynn / Inner Dowsing, UK54 x SWT-3.6-107 (2008)Gunfleet Sands, UK48 x SWT-3.6-107 (2009)Rhyl Flats, UK25 x SWT-3.6-107 (2009)Walney, UK51 x SWT-3.6-10751 x SWT-3.6-120Pori, FIN1 x SWT-2.3-101 (2010)Baltic I, DE21 x SWT-2.3-93 (2010)Rudong Intertidal, CHN21 x SWT-2.3-101Vindeby, DK11 x 0.45 MW (1991)Middelgrunden, DK20 x SWT-2.0-76 (2000)Samsø, DK10 x SWT-2.3-82 (2002)Rønland, DK4 x SWT-2.3-93 (2002)Rødsand/Nysted, DK72 x SWT-2.3-82 (2003)Frederikshavn, DK1 x SWT-2.3-82 (2003)Horns Rev II, DK91 x SWT-2.3-93 (2009)Rødsand II, DK90 x SWT-2.3-93 (2010)Lillgrund, SE48 x SWT-2.3-93 (2007)Hywind, NO1 x SWT-2.3-82 (2009)*commissioned

Many projects under installation and to come…Greater Gabbard, UK140 x SWT-3.6-107Sheringham Shoal, UK88 x SWT-3.6-107London Array, UK175 SWT-3.6-120Lincs, UK75 x SWT-3.6-120Gwynt Y Mor, UK160 x SWT-3.6-107West of Duddon Sands, UK108 x SWT-3.6-120Teesside, UK27 x SWT-2.3-93Anholt, DK111 x SWT-3.6-120Baltic 2, DE80 x SWT-3.6-120Borkum Riffgat, DE30 x SWT-3.6-107DanTysk, DE80 x SWT-3.6-120Borkum Riffgrund 1+2, DE178 x SWT-3.6-120Meerwind Süd Ost, DE80 x SWT-3.6-120Amrumbank West, DE80 x SWT-3.6-120

Siemens is also growing strong in onshore wind

In FY 2011, onshore projects accounted for 70%of the wind power revenueSiemens is particularly strong in the large U.S.market and other key marketsSiemens isNo. 1 in the UKNo. 3 in the U.S.No. 2 in Canada

EKF – an essential and reliable partner

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EKF support is essential for the market entrance of newtechnologies, e.g. direct drive turbines, new tower concepts,new & larger bladesEKF is key partner for financing in Siemens Wind Power’skey / growth marketsOnshore:Offshore:in Europe (e.g. Turkey) and many other growthmarkets (e.g. Africa & Asia Pacific)investors increasingly seeking project financeincl. construction phase which is still extremelychallenging; increasing project size & missingproper syndication market; high capital needsnecessary to realize the multitude of futureprojects

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EKF is the premier ECA when it comes to Offshore WindFinancing (strong track record)

EKF – an excellent relationship

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First two Siemens Wind Power projects with EKF participationhave been closed in 2004 (Norway, Statkraft AS) and 2006(Sweden, Vattenfall AB)Siemens leading market share and #1 in offshore orders coupledwith the strong growth and high capital needs have strengthenour relationship with EKFMeanwhile, the total exposure involving Siemens Wind Power isof today > EUR 700’. A significant number of transactions is inthe pipeline (~ EUR 1.500’)EKF has of today supported Siemens in installing more than1,500 MW world wideA substantial EKF contribution (volume-wise) is a significant partof today's offshore financing structures

EKF – project exampleMeerwind 288 MW Offshore Wind FarmCountry: GermanySponsor: Blackstone (80%)Financial Close: 08/2011Expected Take Over: Q1/2014Project & financing key factsLocation: ~23 km NW of the island of Helgoland, North SeaInstalled capacity: 288 MWScope of Supply: 80 x SWT 3.6 – 120Total investment: ~EUR 1,200’Financial Advisors: KfW IPEX, Dexia Bank & Green GiraffeTotal debt financing: ~EUR 820’EKF’s share (guarantee) of total debt is ~30%

Project highlightsGermany‘s largest fully financed Offshore Wind Farm includingconstruction phaseFirst offshore wind project to reach financial close under the KfW 5’’offshore programWill provide green electricity for more than 400,000 homes inGermany

How EKF can support our growth endeavors

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Ensuring competitive financial terms & conditions (stayingcompetitive towards i.e. Euler, Hermes and KfW)Support in challenging countries (e.g. Greece, CEE & Africancountries)

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Support for projects with new technology (DD machines/ new towerconcepts/ new and larger blades)

Thank you very much for your attention!

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