Importance of materials for c Importance of materials

Importance of materials for cc-Si
PV manufacturing
Marco Borgini – June 6th, 2013
Safe Harbor
With the exception of historical information, the matters disclosed in this presentation
are forward-looking statements.
Such statements involve certain risks and
uncertainties that could cause actual results to differ materially from those in the
forward-looking statements. Potential risks and uncertainties are described in the
Company’s filings with the Securities and Exchange Commission (SEC), including its
2011 Form 10-K, and Q1 2012, Q2 2012 and Q3 2012 Form 10-Qs, in addition to the
risks and uncertainties described on page 25 of this presentation. These forwardlooking statements represent the Company’s judgment as of the date of this
presentation. The Company disclaims, however, any intent or obligation to update
these forward-looking statements.
This presentation also includes non-GAAP financial measures. You can find a
reconciliation of each of these non-GAAP measures to the most directly comparable
GAAP financial measure in our earnings press release filed on Form 8-K with the SEC
and posted in the Investor Relations portion of our web site at www.memc.com.
P. 2 | SunEdison Confidential
Company Highlights
MEMC/SunEdison is a Global Leader in Semiconductor Products and Solar Energy
Formed in 1959
KEY MILESTONES
Listed on NYSE (SUNE), Member of Fortune 1000
1959 Monsanto Electronic Material
Company formed
1962 CZ silicon crystal process developed
5,000+ employees in 25 global locations
Manufacturing plants on 3 continents
≈990 MW of PV interconnected worldwide
2.6 GW of projects pipeline
1975 First commercial production of
100mm wafers
1995 MEMC I.P.O. on the NYSE
2003 SunEdison signs first solar PPA
(Power Purchase Agreement)
2006 Announced entry into solar wafer
market on a large scale
2009 MEMC acquires leading solar project
developer SunEdison
2010 Acquired Solaicx and Continuous
Czochralski (CCZ) technology
2010 SunEdison builds largest PV plant in
Europe (70 MW)
2011 MEMC announces solar cell and
module partnerships
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P. 3 SUNEDISON CONFIDENTIAL
MEMC--SUNEDISON became SUNEDISON
MEMC
P. 4 | SunEdison Confidential
Outline
SUNEDISON global presence and Geographic diversification
From TCS/Polysilicon to Wafers
Modules
Solar Systems
Q&A
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P. 5 SUNEDISON CONFIDENTIAL
Unique and diversified position in the value chains
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P. 6 SUNEDISON CONFIDENTIAL
Why Polysilicon
Polysilicon is the nucleus of SunEdison’s three
Businesses
• Semiconductor Materials
• Solar Materials
• Solar Energy
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P. 7 SUNEDISON CONFIDENTIAL
MEMC
Silicon
Materials
andProducts
Products
Polysilicon is the raw material used to manufacture
semiconductor and solar wafers. It comes in chunk or
granular form. MEMC manufactures both, and is the
world’s only volume producer of granular Polysilicon.
Chunk
Granular
Ingot is Polysilicon after it has been melted, formed into a
crystal and cut. An ingot may be of a single crystal structure
(semiconductor or solar applications) or a multi-crystalline
structure (solar). It may also contain dopants.
Ingot
Solar Wafer
Semiconductor
Wafer
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Silicon Wafers are the foundation upon which
virtually all integrated circuits and solar cells are built.
Wafers are formed by slicing an ingot, and in the case
of semiconductor wafers, are built to very stringent
specifications, are polished and may involve
advanced treatment such as annealing, epitaxy or
layer transfer (Silicon-On-Insulator).
P. 8 SUNEDISON CONFIDENTIAL
SunEdison Products and Market
Semi
LCD
Solar
Cells/Modules
Mono PV
Multi PV
Ingot/Wafers
Silicon Parts
Chunk Poly
Granular Poly
Silane
EG TCS
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P. 9 SUNEDISON CONFIDENTIAL
Ribbon PV
Thin Film
PV
SunEdison Gases Manufacturing Sites
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P. 10 SUNEDISON CONFIDENTIAL
SunEdison Polysilicon Manufacturing Sites
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P. 11 SUNEDISON CONFIDENTIAL
SunEdison Ingots/Wafers Manufacturing Sites
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P. 12 SUNEDISON CONFIDENTIAL
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P. 13 SUNEDISON CONFIDENTIAL
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P. 14 SUNEDISON CONFIDENTIAL
Migration to MonoMono-crystalline
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P. 15 SUNEDISON CONFIDENTIAL
Systems Economic view.
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P. 16 SUNEDISON CONFIDENTIAL
Supply Chain Quality –Operational Excellence
Class A test equipment utilized
• Lowest uncertainty, tight test tolerance, and repeatability
Utilizing ISO 14001 and 9001 standards with TS-style
• TS16949 is quality standard for automotive and is more rigorous than ISO
Management emphasis on high quality product
• Quality dashboard being developed to provide information on yield, Income Quality Checks,
etc.
• Statistical control trend charts for key parameters on incoming materials
• Statistical control trend charts on key manufacturing stages
• Monthly audits by MEMC Quality Assurance
• Weekly audits by Flextronics
QA Inspections
•
•
•
•
Above industry standard incoming sampling with AQL level II – 0.4
100% visual inspection at multiple points in manufacturing line
100% end of line inspection before lamination and after flash
100% visual inspection by Flextronics and MEMC
Additional audits by Supply Quality Engineering
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32 Russia
MEMC CONFIDENTIAL
Semicon
PV Session | June 06 , 2013
P. 17 SUNEDISON CONFIDENTIAL
Module Product Roadmap
280W, 72 cell
multi-wafer
Module ŋ : 14.3%
290W, 72 cell
multi-wafer
Module ŋ : 14.8%
AC Module
250W, 60 cell
Module ŋ : 15.2%
320W, 72 cell
Solaicx™ mono
Module ŋ : 16.5%
265W, 60 cell
Solaicx™ mono
Module ŋ : 16.1%
250W, 60 cell
mono-wafer
Module ŋ : 14.6%
18
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P. 18 SUNEDISON CONFIDENTIAL
350W, 72 cell
Solaicx™ CCz
n-type mono
Module ŋ : 19%
MEMC Module Strategy
Supply SunEdison
demand
Supply to EPC &
Project Developers
Reduced BOS costs,
reduced $/w, DCPM,
micro--inverters
micro
• Differentiation
1000V UL, positive
power binning, linear
warranty,
IP67 JJ-Box, smart
modules
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• Continual
Power Output
Increases
Create opportunities ODMs & Cell Partners
• Rapid
Advantage of
Market Trends
Tariffs, 1000V UL, local
content
P. 19 SUNEDISON CONFIDENTIAL
IE reports, multiple
suppliers for key
components, industry
leading quality
• Bankable
Supplier
Value Chain Integration
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P. 20 SUNEDISON CONFIDENTIAL
Solid Interconnections Growth & Impressive Pipeline
990 MW of PV Interconnected
Cumulative 675 solar power systems
interconnected.
SunEdison installed 430 MW in 2012.
●
●
2.6GW of PV Pipeline**
●
SunEdison has 2.6 GW of pipeline and continues
to work of ‘green-field’ development for new
projects
Pipeline by Geography
Emerging
Markets
17%
Installed PV Volume (MW/year)
600
430
400
200
283
EMEA & LA
21%
110
US
48%
Canada
0
14%
2010
2011
2012
Pipeline by System Size
MW≥100
26%
MW <1
9%
1 ≤ MW <10
10%
50 ≤ MW <100 10 ≤ MW <50
22%
33%
*Figures refer to projects in operation and under construction; **A solar project is classified as "pipeline" where SunEdison has a signed or awarded PPA or other
energy off-take agreement or has achieved each of the following three items: site control, an identified interconnection point with an estimate of the interconnection
costs, and an executed energy off-take agreement or the determination that there is a reasonable likelihood that an energy off-take agreement will be signed.
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P. 21 SUNEDISON CONFIDENTIAL
Diversified Business Segments
● Large scale ground●
●
●
●
mount projects
Distributed generation
for Utilities
Development,
engineering,
construction and O&M
services
Construction and longterm financing
Premium guarantees
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Semicon Russia PV Session | June 06 , 2013
Residential &
Small Systems
Commercial
Rooftops
Utility Scale
● Some ≈100 kW – 1 MW
● Commercial and
●
●
Industrial Rooftops
Systems Integrators for
PV Rooftops owned by
building owners, funds
PPA programs for
different hosts:
commercial, industrial,
public sector
P. 22 SUNEDISON CONFIDENTIAL
● Below ≈100 kW
● Residential and Small
●
●
Commercial
Based on a Certified
Installers Program
Premium customer
services: training,
logistic, financing,
software, after-sales
How Does it All Come Together
1.
INITIATE: Project development & financing:
A) Pipeline development
B) Regulatory/Policy design
C) Project Financing
2.
CREATE: Project design & construction:
A) Distinctive products: Modules, trackers, SEEDS, Inverters*
B) Standard platforms for DG and Utility customers
C) Ecosystem of local construction partners: for each region
3.
MANAGE: Asset Monitor & Management:
A) Regional operation centers to manage plants worldwide
B) Client billing tools — web based
C) Localized Support & Maintenance
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P. 23 SUNEDISON CONFIDENTIAL
MEMC Website: www.memc.com
www.memc.com
Solar Solutions
Solar Modules
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P. 24 SUNEDISON CONFIDENTIAL
www.memc.com > Solar Solutions
Solar Module
Solar Wafer
MEMC
Advantage
Manufacturing
Process
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P. 25 SUNEDISON CONFIDENTIAL
Technical Documentation
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P. 26 SUNEDISON CONFIDENTIAL
Contact Us
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P. 27 SUNEDISON CONFIDENTIAL
Thank you for your attention!
Q&A
Back Up
One of the Largest Solar Companies in the World
Top 15 Global PV System Integrators in 2011 (MW)
Source: IMS Research (PV Integrator Report, Q2-2012)
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P. 31 SUNEDISON CONFIDENTIAL
Very Strong Financial Position
Traded on NYSE since 1995
Named a Fortune 1000 company in 2012
Liquidity of 850 M$ (including 573 M$ in cash & cash-equivalents)*
Balance Sheet – Total Assets (in
M$)
Net Sales (in M$)
6,000
5,000
4,612
4,882
3,000
2,716
4,702
2,530
2,500
4,000
2,239
2,005
3,567
2,000
3,000
2,937
1,500
2,000
1,164
1,000
1,000
500
0
0
2008
2009
2010
2011
2012
2008
*As reported in Q4-2012 results
Source: MEMC 2011 Annual Report and Q4-2012 Earnings Call
P. 32 | SunEdison Confidential
2009
2010
2011
2012
Demonstrated Outstanding EPC Capabilities
Supply Chain
Power
Performance
● Through volume
agreements with major
PV industry partners
● SunEdison systems are
operating at >100% of
underwritten investment*
Construction
Velocity
● 60 MW built in 5 months
under Bulgarian winter
EPC Services
Strong
Engineering
● Most efficient design by
an industry-leading
team
CostAttractiveness
Bankability
● Extensive track record
and bank reputation
after 990 MW
interconnected in
650+ plants
*SunEdison O&M Services ensure PV assets will perform according to forecasted levels
P. 33 | SunEdison Confidential
● Market-competitive EPC
services for PV plants