Investor Presentaiton
BENCHMARKING OF FPV AND PV INVESTMENT COSTS
Ocean
Sun
1
2
Floating PV projects 1,2
#
Plant
Sayreville, NJ
Da Mi reservoir
Country
COD
Capacity (MW)
USA
2019
4.4
CapEx ($m)
7.2
$m per MW
1.64
Benchmark 1.2 vs. Ocean Sun³
2.0
Ocean Sun
Vietnam
2019
47.5
62.0
1.31
3
O'MEGA 1
France
2019
17.0
19.0
1.12
1.5
4
Simhadri, Andra Pradesh
India
2019
25.0
14.6
0.58
5
Changhua Coastal Industrial Park4
Taiwan
2020
181.0
318.7
1.76
6
Sirindhorn District Pilot
Thailand
2020
45.0
28.0
0.62
7
Alqueva
Portugal
2020
4.0
3.9
0.98
USD per Wp
1.0
8
Cixi
China
2020
120.0
100.0
0.83
9
Tengeh reservoir4
Singapore
2021
60.0
39.1
0.65
0.5
10 Cirata reservoir
Indonesia
2022
145.0
131.7
0.91
11
Vau i Dejës
Albania
TBD
12.9
16.4
1.27
0.0
Weighted average CapEx/MW
1.12
5 1 2 11 3 7
10 8 9 64
Project #
Utility-scale, ground-mount PV projects 1,2
#
Plant
Country
COD
1
Noor Abu Dhabi
Abu Dhabi
2019
Capacity (MW)
1,177.0
CapEx ($m)
$m per MW
Benchmark 1.2 vs. Ocean Sun³
870.0
0.74
1.5
2
Thuan Nam
Vietnam
2020
450.0
517.6
1.15
Ocean Sun
3
Núñez de Balboa
Spain
2020
500.0
339.3
0.68
4
Bomen Solar Farm
Australia
2020
120.0
126.8
1.06
1.0
5
Upington
South Africa
2020
258.0
278.7
1.08
6
Ibri II
Oman
2021
500.0
400.0
0.80
7
Francisco Pizarro
Spain
2021
590.0
351.0
0.59
8
Riverstart
United States
2021
200.0
242.0
1.21
USD per Wp
0.5
9
Al Kharsaah
Qatar
2022
800.0
500.0
0.63
10
Creil Air Base
France
2022
246.0
152.1
0.62
11
Tunisia
Tunisia
TBD
360.0
240.0
0.67
0.0
Weighted average CapEx/MW
0.77
8 2 5 4 6 1
3 11 9 10 7
Project #
Selection of recent and
near-term PV projects for
which investment amount
and capacity (in MWp) is
known
Ground-mount PV projects
includes some of the
world's largest utility-scale
plants, deemed to have
the lowest unit investment
costs
On the basis of an
investment cost of $ 0.45-
0.53 per Wp, including
license fee and
installation, Ocean Sun's
FPV solution is highly
competitive compared to
other PV systems
Sources: 1)Companies, Journal of Cleaner Production, PV-Tech, PV-Magazine and Press. 3) The Company.
Note: 2) USD/EUR of 1.17, VND/USD of 23,186, AUD/USD of 1.42, and ZAR/USD of 17.08. 4) Assumes 75% debt ratio (vs. 68-75% for other FPV projects). COD means Commercial Operation Date.
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