- Southeast Asian Market Projection in Specific (MW)

- CAPEX and OPEX between Floating PV and Ground-mounted PV:

• CAPEX breakdown on modules, inverter systems, and design, construction and installation for floating PV are significantly lower compared to the ground-mounted PV.

• Mounting for FPV has a higher percentage as part of CPAEX breakdown because we need to lay underwater cable.

• Floating PV has more frequencies of maintenance for cleaning and safety test, about 10-20% higher than ground-mounted PV.

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- Typical Challenges for Floating PV:

• Higher Construction Risk: limited references and suppliers with sufficient track record

• Higher Development Risk: severe and extreme weather statistic, preliminary anchoring design study, environmental and social report, Water rights, permits, etc

• Higher Operational Risk: need to use conservative assumptions (P50/ P99 estimate)

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A Glance at Selected Q&A

What are the key factors which allow Masdar to meet such low USD/Wp development costs?

• Masdar has very strong inhouse technical and financial teams

• Masdar has strong ties with financial market and build a very trustworthy relationship between Masdar and lenders.

• A very strong track record has opened the way to Masdar to be able to invest more aggressively, and also expand in different markets.

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Attitudes of IFC in financing floating solar projects and key considerations:

• Focus on cost competitive utility scale plants

• Experienced developers

• Can mobilize concessional financing where appropriate

• Deep understanding of regulatory regimes and risks

• Selective engagement in merchant markets

• Open to innovation such as bifacial panels and floating solar PV

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PPA Trend for FPV project? What’s the main criteria for Sembcorp to get financier and create confidence in investors when developing Tengeh FPV?

The PPA is all about bankability which is the same for rooftop, ground mounted or floating. But in particular the technology risk remains as the main concern like fire or affect water quality. As the industry become more mature and has better quality control in the next three years, it will be bankable and financier will be confident in investing.

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From Sungrow’s advices, what technical factors that developers shall aware before making decision to install the floating system

At least to understand the side condition so as to propose the suitable design of the layout for those projects, such as water information, wave height, soil condition and electrical selection.