© 2024 Emeren Group Ltd. All Rights Reserved.
Safe Harbor Statement
Emeren Group Ltd. - Corporate Presentation 2024
This presentation contains statements that constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. Whenever you read a statement that is not simply a statement of historical fact (such as when the Company describes what it "believes," "plans," "expects" or "anticipates" will occur, what "will" or "could" happen, and other similar statements), you must remember that the Company's expectations may not be correct, even though it believes that they are reasonable. Furthermore, the forward-looking statements are mainly related to the Company's continuing operations and you may not be able to compare such information with the Company's past performance or results. The Company does not guarantee that the forward-looking statements will happen as described or that they will happen at all. Further information regarding risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements is included in the Company's filings with the U.S. Securities and Exchange Commission, including the Company's annual report on Form 20-F.
Any forward-looking statement speaks only as of the date on which such statement is made and the Company undertakes no obligation, beyond that required by law, to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made, even though the Company's situation may change in the future. As forward- looking statements involve significant risks and uncertainties, caution should be exercised against placing undue reliance on such statements.
© 2024 Emeren Group Ltd. All Rights Reserved.
Overview
Emeren Group Ltd. - Corporate Presentation 2024
EMEREN GROUP
Emeren is a leading global renewable energy project developer and operator, with local professional teams in Europe, North America, and Asia. Emeren's strategy is to pursue high-margin project development opportunities in these profitable and flourishing markets, specifically, in the U.S. and Europe, where the Company has an industry-leading position.
Emeren is committed to streamlining solar projects, including solar and Battery Energy Storage System (BESS) projects, as well as leveraging Independent Power Producer (IPP) assets, with knowledge and assets for a faster implementation and an increased adoption.
Our vision is to leverage solar development to realize a brighter, cleaner future for the benefit of People, Profit and Planet.
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© 2024 Emeren Group Ltd. All Rights Reserved.
Content
Emeren at a Glance | 04 |
Investment Thesis | 05 |
06 | |
CEO Statement | |
07 | |
Meet the Team | |
Rebranding | 08 |
Our Values | 09 |
Our Business Models | 10 |
Emeren Group Ltd. - Corporate Presentation 2024
Value Creation | 11 |
Focused Business Activities | 12 |
Our Global Presence | 13 |
Frontier Markets | 24 |
Sustainability | 25 |
Financial Results | 32 |
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© 2024 Emeren Group Ltd. All Rights Reserved.
Emeren at a Glance
18+ years
Founded in 2005
3 continents
Regional offices in Europe,
North America, and China
>2.6 GW
Advanced-stage solar project pipeline
~265 MW
Operational assets under management
>12 GWh
Advanced-stage storage project pipeline
71% y/y
Revenue growth 2023
$104.7M
Revenue 2023
$6.0M
Adjusted EBITDA 2023
$70.2M
Cash and Cash Equivalents as end of 2023
~822 MW
Monetized projects in 2023
Emeren Group Ltd. - Corporate Presentation 2024
$14.8M
Revenue Q1 2024
27.2%
Gross Margin Q1 2024
$1.2M
Adjusted EBITDA Q1 2024
$0.7M
Operating Loss Q1 2024
$55.1M
Cash and Cash Equivalents as end of Q1 2024
05
© 2024 Emeren Group Ltd. All Rights Reserved.
Investment Thesis
Reading the market and mitigating the threats.
Emeren Group Ltd. - Corporate Presentation 2024
Accelerating Global Solar Adoption
Drives TAM expansion
Climate change and global energy crisis accelerating renewable energy transition globally. Supportive energy policies and incentive programs provide demand tailwind.
Cost of solar power at grid parity with traditional energy sources.
Unique, Asset-light Model with Strong Competitive Advantages
Focus on high-margin development projects and opportunistic IPP assets in favorable pricing and clean energy policy markets: U.S., Europe, and China.
Focus on small sized projects and NTP strategy - capex and operational overhead light. >3.1 GW advanced-stage solar and >20 GWh advanced-stage storage pipeline across Europe, U.S. and China.
Strong track record in project development and experienced management team across U.S. and Europe.
Strategic IPPs with favorable solar PPAs - help provide stable cashflow stream.
Solid Financial Performance
Sound financial health with bottom-line focus.
Strong balance sheet.
ESG Value: Lowers Portfolio Carbon Score
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© 2024 Emeren Group Ltd. All Rights Reserved.
CEO Statement | Emeren Group Ltd. - Corporate Presentation 2024 |
In Emeren, we are driven by a deep sense of purpose to create a sustainable future for the generations to come by harnessing the power of renewables.
As a global solar energy developer and operator, we recognize the immense responsibility that we have in the transition towards a low-carbon economy, and we are strongly committed in investing in innovation and technological advancements to deliver best-in-class power plants.
Our company is growing and evolving, but our commitment to make a positive impact on the environment and the communities we serve, remains unchanged.
Yumin Liu
Emeren Group CEO
07
© 2024 Emeren Group Ltd. All Rights Reserved.
Meet the Team
Himanshu Shah
Chairman
Founder, President, and CIO of Shah Capital with over 30 years in global capital markets.
Board Roles: Former Director at Vitamin Shoppe; current Chairman of Marius Pharmaceuticals.
Holds over 27% of Emeren Group Ltd, emphasizing long-term commitment.
Yumin Liu
Chief Executive Officer
More than 20 years of experience in energy management, power generation and solar technology.
Served as Vice President of the EMEA region at Canadian Solar, President of Recurrent Energy and President at GCL Solar Energy.
Mac Moore
EVP for North America
More than 20 years of experience in the solar energy industry, with management roles at BP Solar, Conergy, and Schott Solar.
Prior to joining Emeren, he was Vice President, Business Development for GCL Solar Energy.
Emeren Group Ltd. - Corporate Presentation 2024
Ke Chen
Chief Financial Officer
More than 13 years of experience in the global capital markets, including investing in solar industry globally.
He brings both capital market insight and strategic expertise to the Emeren Group Ltd.
Simon Cheah
Chief Investment Officer - EVP for Europe
20 years of experience in corporate and investment banking and over 13 years in solar energy industry. Worked for Peridot Solar UK, P&T Global Renewable Energy, Canadian Solar, Trina Solar, Deutsche Bank and Barclays Bank.
Kaikai Zhang
EVP for China
Over 20 years in renewable energy, investments, and financing; additional 15 years in investment and financing.
Previously served as diverse Leadership Roles: Financing specialist at Cosco; managerial and executive positions at XMXYG's various financial subsidiaries; Deputy General Manager for Huiji Fund and Huixin Minrong.
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© 2024 Emeren Group Ltd. All Rights Reserved.
Rebranding
As of January 30th, 2023, ReneSola Ltd has rebranded to become Emeren Group Ltd
New name, logo, tagline and website Stock symbol will remain as SOL
With new identity, Emeren acknowledges current strategies and continues driving towards a more sustainable future
Emeren stands for Empowering Renewables. Our innovative and experienced approach, positions us to take on new challenges within the complex framework of the global energy sector. With our commitment to continued business growth, our new identity has been designed to execute today with an eye toward tomorrow. Applying clean, minimal concepts, there is an emphasis on light, using transparency as a design element we aim to emphasize our integrity, while expressing our optimism, ambition, and goal to contribute to a greener future.
Emeren Group Ltd. - Corporate Presentation 2024
A growing business. An evolved global identity.
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© 2024 Emeren Group Ltd. All Rights Reserved.
Our Values
As a leader in sustainable green energy projects globally for the benefit of people, profit and planet, we are a reflection of our values.
Emeren Group Ltd. - Corporate Presentation 2024
Creativity
We think big and creatively, solving the complex problems in solar to fund, develop and scale solutions that work.
Collaboration
Quality communication across multifunctional channels with partners, customers, and regulators, makes us a pleasure to work with.
Commitment
We see things through from start to finish, applying our experience to guide our process to execute on projects swiftly and efficiently.
Integrity
Rooted in sustainability, we prioritize honesty and transparency.
Our decisions are driven by desirable outcomes for all.
JEDI
Justice, Equity, Diversity & Inclusion: the core to who we are as an organization, fostering community by amplifying diverse perspectives and breaking detrimental barriers.
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Disclaimer
Emeren Group Ltd. published this content on 11 June 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 June 2024 00:42:03 UTC.