欧洲可再生能源市场现状(英)--SchneiderVIP专享VIP免费

State of the European Renewable Energy Market
Key trends and market overview 2023 for Corporate Energy Buyers & Solution Providers
Confidential Property of Schneider Electric
Page
2
Confidential Property of Schneider Electric |
Executive Summary........................................................................................... 3
2023 Market Overview....................................................................................... 4
Summary of H2 2022 Data................................................................................ 5
Indicative Pricing Overview............................................................................ 6
Indicative Pricing Observations...................................................................... 7
Current Market Trends.......................................................................................8
Local Spotlight: New Emerging Countries.........................................................10
Case Study.........................................................................................................11
Digital Procurement Tool for PPAs....................................................................12
Schneider Electric Sustainability Business....................................................... 14
Legal Disclaimer................................................................................................ 15
Contents
Page 3Confidential Property of Schneider Electric |
As your renewable energy partner, our mission is to enable organisations around the globe to embrace clean, renewable solutions along
their journey towards decarbonisation. This report provides an exclusive overview of the European renewable energy market for 2023.
Executive Summary
The demand for renewables in Europe
continues to increase in 2023
An increasing number of companies are considering
renewable instruments to reduce their carbon
footprint and to mitigate the energy market volatility.
Energy and sustainability become core
business strategies for decarbonisation
Global energy volatility is driving a greater need for
energy supply security. Structured, holistic energy
and sustainability strategies are required to
decarbonise, improve energy security, and
increase resiliency.
Commercial operational dates are delayed
The rise in competition for projects is resulting in
limited availability, and commercial operation dates
(COD) are being pushed further into the future.
Global supply chain disruptions, inflation, and rising
interest rates are making it harder and more
expensive to develop some renewable projects.
Supply chain renewables initiatives are
developing
Supply chain renewables initiatives, such
as Energize for the pharmaceutical industry
(page 11), are attracting more companies as they
set goals to reduce their scope 3 emissions.
The corporate Power Purchase Agreement
(PPA) market is developing further in Germany
and France
Due to their robust pipelines, Germany and France
are attracting more and more corporates.
Markets for corporate PPAs are emerging in
Eastern Europe
Romania, Hungary, and Greece are
becoming attractive for investors, including large
corporates and industrials (C&I) and renewable
developers.
StateoftheEuropeanRenewableEnergyMarketKeytrendsandmarketoverview2023forCorporateEnergyBuyers&SolutionProvidersConfidentialPropertyofSchneiderElectricPage2ConfidentialPropertyofSchneiderElectric•ExecutiveSummary...........................................................................................3•2023MarketOverview.......................................................................................4•SummaryofH22022Data................................................................................5•IndicativePricing–Overview............................................................................6•IndicativePricing–Observations......................................................................7•CurrentMarketTrends.......................................................................................8•LocalSpotlight:NewEmergingCountries.........................................................10•CaseStudy.........................................................................................................11•DigitalProcurementToolforPPAs....................................................................12•SchneiderElectricSustainabilityBusiness.......................................................14•LegalDisclaimer................................................................................................15ContentsPage3ConfidentialPropertyofSchneiderElectricAsyourrenewableenergypartner,ourmissionistoenableorganisationsaroundtheglobetoembraceclean,renewablesolutionsalongtheirjourneytowardsdecarbonisation.ThisreportprovidesanexclusiveoverviewoftheEuropeanrenewableenergymarketfor2023.ExecutiveSummaryThedemandforrenewablesinEuropecontinuestoincreasein2023Anincreasingnumberofcompaniesareconsideringrenewableinstrumentstoreducetheircarbonfootprintandtomitigatetheenergymarketvolatility.EnergyandsustainabilitybecomecorebusinessstrategiesfordecarbonisationGlobalenergyvolatilityisdrivingagreaterneedforenergysupplysecurity.Structured,holisticenergyandsustainabilitystrategiesarerequiredtodecarbonise,improveenergysecurity,andincreaseresiliency.CommercialoperationaldatesaredelayedTheriseincompetitionforprojectsisresultinginlimitedavailability,andcommercialoperationdates(COD)arebeingpushedfurtherintothefuture.Globalsupplychaindisruptions,inflation,andrisinginterestratesaremakingitharderandmoreexpensivetodevelopsomerenewableprojects.SupplychainrenewablesinitiativesaredevelopingSupplychainrenewablesinitiatives,suchasEnergizeforthepharmaceuticalindustry(page11),areattractingmorecompaniesastheysetgoalstoreducetheirscope3emissions.ThecorporatePowerPurchaseAgreement(PPA)marketisdevelopingfurtherinGermanyandFranceDuetotheirrobustpipelines,GermanyandFranceareattractingmoreandmorecorporates.MarketsforcorporatePPAsareemerginginEasternEuropeRomania,Hungary,andGreecearebecomingattractiveforinvestors,includinglargecorporatesandindustrials(C&I)andrenewabledevelopers.Energyvolatility,decarbonisation,regulationsandfinanceareinteractingandinfluencingeachotherAswetakealookatthelandscapeinourGlobalEnergyOutlookwebinar,weareseeingtheintersectionbetweentwocrises:theenergycrisis(energyscarcity,marketglobalisation,energytransition)andtheclimatecrisis(climaterisk,extremeweather,andlegislation).Thesetwointersectingsituationsarecreatingauniqueenvironmentthathaschangedthewaywethinkaboutenergyanddecarbonisationbecausetheyaresointerconnected.GlobalenergyvolatilityisdrivinganeedforresilienceandenergysupplysecurityaswecontinuetofaceenergyscarcityinEurope.Thelegislativeenvironmentisalsogoingtoaltertheenergyor/anddecarbonisationlandscape.Regulationswillrequirenewconsiderationsforfinancing,carbonfootprintdeterminations,andsupplychainemissionsreporting.Whatwefundamentallyunderstandistheneedtodigitiseenergyandsustainabilitydata.Increasedmarketcomplexitydemandsorganisationstodigitiseinordertosecureenergysupplyandmeetbusinessneeds.Andasthesetwocrisescontinuetointersect,energyandsustainabilitybecomecorebusinessstrategiesnecessarytocutemissions,improveenergysecurity,andincreaseresilience.Executivesandboardsacrossallorganisationsaremonitoringthesecollidingsituationscarefully.2023MarketOverviewRenewableenergydemandisstillrisingCorporatedemandforrenewableenergyisstillincreasingduetodecarbonisationcommitmentsandthedesireforbusinessestohedgeagainstwholesalemarketvolatility.Theriseofsupplychainprogramsencouraginglow-carbonenergyprocurementisalsoopeningdoorsfornewentrantsintothismarket.VolatilitycallsforresilienceandenergysupplysecurityWehaveseenunprecedentedpricevolatilitygloballyoverthepast18months,posingunparalleledchallengestoallrenewablemarketplayers.Theglobalisationofmarketswillcontinuetoincrease,creatinganinterconnectedandcomplexmarketwithnewandevolvingrisks.Inthesechallengingtimes,aproactive,adaptivestrategyanddeepmarketunderstandingarekeystomeaningfulaction.CommercialoperationdatesarepostponedTheriseingasandpowerpricesacrosstheboardarecreatingheightenedbuyerdemandforPPAs.Increaseddemandforrenewableenergysourcesmeansgreatercompetitionforprojects,whichresultsinlimitedprojectavailabilityandcommercialoperationdates(COD)beingpushedintothefuture.Asdemandincreases,Q42024wasthemostcommonCODoffering,adelayfromQ12024inH12022.Projectsiteavailabilityalsodecreased(source:ZeigoPower,ourdigitalprocurementplatform,page12).Permittingdelays,interconnectiondelays,supplychaindisruption,risinginterestrates,andinflationareotherheadwindstoprojectdevelopment.InternalalignmentiskeytomovequicklyasexplainedinourH12022report.Inamarketwherecompetitionisincreasingandsupplybecomingtighter,agiledecision-makingisincreasinglyimportantinordertocaptureopportunitiesandmovefasterthancompetition.TheH22022datasetthatinformsthisreportconsiderscorporaterequestforproposal(RFP)responsesgatheredbetweenJuneandDecember2022.Itrepresentsapproximately1,100renewableenergyoffersacrossEuropeSummaryofH22022DataIndicativePricing–OverviewPricerangesofoffersacrossVPPA(VirtualPowerPurchaseAgreement)structuresfromourH22022dataset.Pastperformanceisnotindicativeoffutureresults.Hypotheticalperformanceresultshavemanyinherentlimitations.Norepresentationisbeingmadethatanyprogramwillorislikelytoachieveprofitsorlossessimilartothoseshown.Swaps,futuresandoptionstradinginvolvesignificantriskoflossandmaynotbesuitableforeveryone.Therefore,carefullyconsiderwhethersuchtradingissuitableforyouinlightofyourfinancialcondition•Pricerangesdisplayedrepresentthe25thto75thpercentileofoffersreceivedinH22022(seepage5)•Pricesdisplayedhavebeenroundedtothenearestwholenumber.•Bothwindandsolartechnologiesareconsidered.•Pastperformanceisnotsuggestiveoffutureresults.•Pricesshouldbeconsideredwithinthecontextofthelocalmarket.NotesIndicativePricing–Observations•Ascorporatedemandcontinuestoincrease,interestedbuyersareencouragedtobeginmarketevaluationssoonerratherthanlater.Buyers,especiallythosewith2025targets,willneedtoconsiderthefullsuiteofrenewableenergyinstrumentstomeettheirgoals.Thosewithflexibleprocurementstrategieswillbewellpositionedtotakeadvantageofopportunities.•CorporatePPApriceshaveincreasedacrossallEuropeanmarkets,influencedbyfactorssuchas:demand,supplychainissues,inflation,interestrate,geopoliticalsituation,andwholesalemarketvolatility,amongothers.Still,PPAsinsomemarketsareacost-effectivewaytosourcelow-carbonenergy.•TheSpanishmarketremainsoneofthemostinterestingmarkets,evenconsideringthesignificantissueswithpermittingthatcontinuedespitemeasuresimplementedbythegovernmenttoaccelerateandsimplifytheprocess.•TheNordicshaveseensomeofthemostsignificantpriceincreases,yetdemandisstrongandalternativepricestructuresmayofferreasonablefinancials.•UKisamarkettoconsiderwithastrongpipelineofprojects,especiallyforcompaniesthatneedalocalsolutiontoabidebymarketboundarydefinitions.•MorePolishprojectsarebecomingavailable,butwithasignificantincreaseinprices.•TheGermanandFrenchmarketsareattractinginterestforcorporatesduetorobustpipelinescomparedtoothercountriesinEurope.•Emergingmarkets,suchasGreeceandRomania,areseeinganinterestingevolutionwithpipelinesbuildingandmoreoffersbeingpresented.Therenewablemarketisevolvingrapidly.It’simportanttohaveastrategyandanimplementationplanthatcanbereviewedregularly.Corporatesneedtoconsiderdifferentrenewableoptionsavailabletohittheirshortandlong-termtargets.Multinationalswillalsoneedaflexibleglobalplantocaptureopportunitiesastheyarise.Contactourexpertstodaytolearnmore.GetmoreinsightsonFrenchandSwedishrenewablemarketsinourpreviousreport.CurrentMarketTrendsPriceStructureFixed-for-floatingisstillthedominantpricestructureforPPAs.ThisisespeciallytrueinmarketswherecorporatePPAsarejuststartingorremainlessmature.Inmostmaturemarkets,however,offersforalternativepricestructurescontinuetogrow.TheyrepresentedhalfoftheoffersreceivedforSpanishprojectsandmostofthoseforSwedishprojectsinH22022.CreativityandflexibilityinthestructureofPPAsofferedimprovesthevarietyofproductsavailabletocorporateenergybuyerstomeettheircompany’sspecificneeds.PriceadjustmentclausesinrelationtoeitherinflationorCapexvariationsarebecomingincreasinglycommon.Thecontinuedvolatilityinthewholesalepowermarketmeans“asproduced”PPAprofileshavebeenofferedalmostexclusively.PPApricestructuresoffered(H22022)AlternativepricestructuresFixed-for-floatingpricestructureGOs/REGOsTheGuaranteeofOrigin(GO)markethadanexceptionalyearin2022.Asaresultofthedryweather,theaveragetradedpricesforGOproductsacrossallvintageyearsincreasedinQ42022,withthehighestpriceincreaserecordedfor2023EUHydroand2022NordicWindproduction.InDecember,averagetradedpricesforGOproductsacrossallvintageyearsdecreased,withthelargestpricedecreasewitnessedfor2022NordicWindproduction,whilehydrolevelsreturnedtotheirhistoricnorms.Thenewyearbeganwithabullishtrend,particularlyforthe2022productionacrossallvintagesandtechnologies.EUGOswillnolongerberecognisedintheUKasof1stApril2023.Therefore,theimportandusageofEUGOsforconsumptionintheUKwillnolongerbeaccepted.OrganisationslookingtoaddressconsumptionintheUKwillnowhavetoprocureandusein-countryREGOs(RenewableEnergyGuaranteesofOrigin)..Note:ThedatadisplayedinthegraphwascalculatedbasedondirectquotesreceivedfromGOprovidersintheEuropeanmarket,notfromtheRFPdatabaseGermanyFranceBelgiumNetherlandsCzechItalyPolandSlovakiaSpain-5.51%-3.23%-17.34%-9.93%-19.52%-22.02%-15.20%-7.74%-16.53%CurrentMarketTrendsGasNaturalgaspricesskyrocketedduringthesummerperiodassupplyriskscombinedwithheatwavestocausenotabledisruptionstomarkets.However,robustLNGsupplyandsignificantlyreducedgasdemand(causedbyunseasonablywarmweather)keptEuropeangasstoragesatmorecomfortablelevels.Bythefall,gaspricesacrossthecontinentlevelledoutandbecamemorestable.Futurepricestabilitywillheavilydependonfavorablewinters(mild,wet,windy)alongwithrobustLNGsupplyanddemandcurtailments.IntheeventofincreasedAsiandemandforgas,Europeshouldexpecttightermarketsinthemonthsahead.Source:SchneiderElectricGR&ANaturalGasDemandCurtailmentsin2022Source:Refinitiv,SchneiderElectricGR&APage10LocalMarketSpotlight:NewEmergingCountriesItisimportanttonotethatparticipationinthesemarketscanalsoexposecorporatestorisk.Interestedinexploringeasterncountries’PPAmarket?Contactourlocalmarketexperts.Pastperformanceisnotindicativeoffutureresults.Hypotheticalperformanceresultshavemanyinherentlimitations.Norepresentationisbeingmadethatanyprogramwillorislikelytoachieveprofitsorlossessimilartothoseshown.Swaps,futures,andoptionstradinginvolvesignificantriskoflossandmaynotbesuitableforeveryone.Therefore,carefullyconsiderwhethersuchtradingissuitableforyouinlightofyourfinancialcondition.HungaryTheverylow(9%)corporatetaxratemakesHungaryattractiveforinvestors,includinglargecorporatesandindustrials(C&I)andrenewabledevelopers.TheHungariangovernmentaimstoachieve6GWofrenewableenergyby2030and12GWby2040.TodaytheHungarianenergymixreliesheavilyonnuclearandcoal.Whiletheformershouldstay,coalhastobereplacedbyrenewablesby2030,creatingahugeincentiveforrenewabledeveloperstobuildextracapacity.Theoutcomeofthelatestgovernmentauctionwaslessfavorabletorenewabledevelopers,withmanydecidingtowithdrawtheirofferedproject,payapenalty,andgotomarket.Giventhistendency,localsubsidiesmayphaseoutwithPPAsemergingatafasterpace.Hungary(cont.)Duetothenumberofsunnydays,Hungaryhastremendoussolarpotential.Ontheotherhand,whilerenewablesareadvertisedandincentivised,prosumersarenotabletonetmeterandfeedtheexcessgenerationbacktothegrid.Thoughthisdoesn’tnecessarilyaffectindustrialscaledevelopments,somecompaniesmayviewthemixedmessagingasadrawback.Thecountryhasaregulationthatprohibitswindfarmsfrombeingbuiltwithin12kmsofanyinhabitedarea.Ending2022,thegovernmentannounceddiscussionstochange/eliminatethisrule.ThismayincentiviseevenmorerenewabledeveloperstocometoHungary.GreeceGreecehasagoaltomeet65%ofelectricitygenerationwithrenewablesby2030.Greece’snewlegislationisexpectedtoreducetheaveragetimeforlicensingrenewableprojectsfromfiveyearsto14months,simplifyingtheoverallpermittingprocessandgivingspaceforinvestorsanddevelopers.Asaresult,Greeceisinthespotlightforrenewabledevelopers,increasingitsoverallattractivenessandleadingtomoreforeigninvestorsenteringitsmarket.Thegovernmentintroduceditsfirstoffshorewindlaw,whichisamajorincentiveforrenewabledeveloperstostartdoingbusinessinGreece.Duetoitslocation,Greecehastremendousnaturalresourcesforbothwindandsolarpowerproduction.RomaniaRomania’scorporatetaxrateisalsobelowaverage(16%)makingthecountryattractiveforforeigninvestors,e.g.,C&I,renewabledevelopers.Romaniaaimstoreach30.7%ofrenewableenergyinitstotalenergymixby2030with~7GWofnewcapacity,ofwhich~3.7GWisintendedtobesolar.Romaniadidn’thavegovernmentalsubsidiesformanyyears.However,itisnowlaunchingitsfirstrenewablessupportschemeforwindandsolarprojects.ThegovernmentalsotookastepbackfromoverlycomplicatedmarketrulesgivingroomtoPPAs.BecauseRomaniaisnotanAIBmember,companieswithalargerloadaremorelikelytoseeklocalrenewablesolutions.CaseStudy:SupplyChainRenewablesInitiativeCreatinglife-savingmedicinesandservicesrequiresalotofenergy,muchofitbeingusedbythevaluechain.TheEnergizeprogramisacollaborativeeffortbythepharmaceuticalindustryandSchneiderElectrictoincreaseaccesstorenewableenergyforpharmaceuticalsupplychains.Thesignatureprogramandeducationalcurriculumwaslaunchedin2021atCOP26toenablepharmaceuticalsupplierstojoinafirst-of-itskind,aggregatedapproachtocollectivecontractingforrenewableenergyviaabuyer’scohort.TheEnergizeprogramgivessupplierswhohavetypicallyfacedbarrierstoparticipatingintherenewablemarketaccesstoutility-scalePPAsandotherrenewablesoptions.SupplierscanalsoreceiveeducationfromSchneiderElectriconrenewableenergyprocurement.Theprogramhasrecruited369supplierstodateandincludes17sponsoringcompanies.ThefirstPPAbuyers’cohortwasformedinNovember2022andincludes9companiescomprisedof7suppliersand2sponsors.Thecohortintendstogotomarkettogether,resultinginapotentialaggregateof2terawatt-hours(TWh)ofelectricitydemandinEuropeandNorthAmerica.DigitalProcurementToolforPPAsDigitaltoolscontinuetoemergetocomplementadvisorysupportinPPAprocesses.ZeigoPowerTMisthedigitalprocurementplatformthatprovidesaself-serviceapproachtocontractingrenewableenergyforexperiencedbuyers.ItispartoftheZeigosuiteofSaaSproductsaimedatstreamliningthepathtoacarbon-freefuture.TheZeigoPowerplatformcombinestechnologyandhumanexpertisetoadvancecleanenergycontractingprimarilyfocusingonPPAs.TheZeigoPowerplatformactstoacceleratethetenderingprocessforcorporatesanddevelopers.Whilstvariancesintendertimelinesarecommon,theprocessdepictedonpage13istypicaloftheZeigoPowerprocessandhelpstoguideanorganisationthroughaPPAnegotiationquicklyandefficientlyforqualifiedbuyers.Theplatformhasgatheredmorethan1,000renewableenergyoffersacrossEurope,submittedby140+solutionprovidersacross10countries.Poweredbydataandsmarttechnology,ZeigoPowerhelpsbuyersconnectwithbothoperationalandnewbuildprojectsontheplatform.ContactanexpertExploretheplatform400RenewableProjectsDigitalTransactionsOperationalandnewbuildPPAsWeeks11-12ThecorporatebuyerselectswhatoffertheywanttotaketoTermSheetnegotiationspriortosigningintoaPPA.DigitalProcurementToolforPPAsTenderTimelineWeeks2-5Weeks6-8Weeks8-10Weeks11-12Week13Weeks2-5ZeigoPowerinitiatesthetenderingprocessbynotifyingrenewableenergydevelopersoftheserequirements.Developerswithsitesthatmatchthesespecificationssubmitanofferwithdetailsincludingtheprice,technologytype,andPPAstartdate.Thisstageofthetenderingprocesslastsapproximately4weeksbutcanbeextended.Weeks0-1AfterjoiningtheZeigoPowerplatform,corporationscanuploadtheirconsumptiondata,completethetenderform,andinputtheirtenderrequirements.Weeks6-8FollowingclosureoftheRound1tender,ZeigoPowerwillconductanalysistodeterminewhichoffermostcloselymatchestherequirementsofthecorporatebuyer.Followingthisanalysis,thecorporationwillshortlistupto5offerstotaketoRound2ofthetenderingprocess.Week13Termsheetnegotiationsbegin.Weeks0-1Weeks8-10ShortlisteddevelopersprovidedetailedsitedataincludingsitegenerationpatternstomatchthisagainstcorporateconsumptionlevelsthroughouttheyearandmayamendRound1offers.ZeigoPowerwillprovidebalancingandshapinganalysistofurtherguideselectionofthemostsuitableofferbasedonPPAspecificationsandforwardmarketpricing.SummaryGloballeaderinrenewableenergyprocurementUncoverrenewableenergysolutionstoacceleratecompanygoalsSchneiderElectricSustainabilityBusinessisapioneeringglobalsupplierofrenewableenergyandcleantechnologyproductsandservicesforthecommercial,industrial,andinstitutional(C&I)sectors.Schneidercurrentlymanagesmorethan$30Binenergyspendonbehalfofitsclientsannuallyandtracksnearly130millionmetrictonsofcorporatecarbonemissions.SchneiderElectricSustainabilityBusinesscurrentlyhasthefollowingPPAactivityinEurope:•17marketscoveredinthePPAprocess•50recentandcurrentPPAprocesses•1,850MWofadvisedPPAssince2020inEurope(over14GWglobally)•16,000,000+MWhofrenewableelectricitycurrentlyunderRFPWith40+expertsonthegroundcoveringallkeymarkets,SchneiderElectric’scleantechteamcontinuestohelpcompaniesidentifyoptimalsolutionstoproducerenewableelectricityinEurope.Renewableenergyandcleantechnologyareexpandingandcreatingnew,economicallyviableopportunitiesforcorporatebuyers.Butthemarketiscomplex.Energyandsustainabilityleadersarefacedwiththechallengeofeducatingthemselvesandengagingstakeholders,understandingtheglobalmarket,andfindingtherightsolutionstomeettheirgoals.ZeigoNetworkTM,formerlyknownastheNEONetworkTM,connectslike-mindedcompaniesonthejourneytodecarbonisationandhelpsrelievesomeofthecomplexitytheyfact.Thesoftware,whichispartoftheZeigosuiteofSaaSproducts,providesaccesstoeducationalresources,communityconnections,andaprovidermarketplaceforrenewableenergyandgreentechnologysolutions.AmembershiptoZeigoNetworkgivescorporatebuyersfreeaccesstoexpertiseandresourcesthatsimplifyandacceleratecleantechdecision-making.MarketEducation.Memberscanaccessin-depthcountryreportsandexplorewindandsolarprojectsacrossEurope.CustomisedData.Distilleddata,detailedresources,andanalyticsofourcustomapplicationsaccelerateprogressonglobalnewenergyopportunities.VirtualCommunity.Withmorethan500corporatemembers,thesoftwarefosterscollaborationamongstlike-mindedorganisationstohelpacceleraterenewableenergyopportunities.GetStartedLearnMoreLegalDisclaimerHypotheticalperformanceresultshavemanyinherentlimitations,someofwhicharedescribedbelow.Norepresentationisbeingmadethatanyprogramwillorislikelytoachieveprofitsorlossessimilartothoseshown.Infact,therearefrequentlysharpdifferencesbetweenhypotheticalperformanceresultsandtheactualresultssubsequentlyachievedbyanyparticulartradingprogram.Oneofthelimitationsofhypotheticalperformanceresultsisthattheyaregenerallypreparedwiththebenefitofhindsight.Inaddition,hypotheticaltradingdoesnotinvolvefinancialrisk,andnohypotheticaltradingrecordcancompletelyaccountfortheimpactoffinancialriskinactualtrading.Forexample,theabilitytowithstandlossesortoadheretoaparticulartradingprograminspiteoftradinglossesarematerialpointswhichcanalsoadverselyaffectactualtradingresults.Therearenumerousotherfactorsrelatedtothemarketsingeneralortotheimplementationofanyspecifictradingprogramwhichcannotbefullyaccountedforinthepreparationofhypotheticalperformanceresultsandallofwhichcanadverselyaffectactualtradingresults.Pastperformanceisnotindicativeoffutureresults.Norepresentationisbeingmadethatscenarioplanning,strategy,consistencyordisciplinewillguaranteesuccessorprofits.Youshouldnotrelyonanyoftheinformationasasubstitutefortheexerciseofyourownskillandjudgmentinmakingsuchadecisionontheappropriatenessofanyparticulartransaction.Everyefforthasbeenmadetoensurethattheinformationinthispresentationisaccurateandcomplete,butneitherSchneiderElectricSB,norourofficers,principals,employeesoragentsshallbeliabletoanypersonforanylosses,damages,costsorexpenses(including,butnotlimitedto,lossofprofits,lossofuse,direct,indirect,incidentalorconsequentialdamages)resultingfromanyerrorsin,omissionsoforalterationstotheinformation.Theforegoingshallapplyregardlessofwhetheraclaimarisesincontract,tort,negligence,strictliabilityorotherwise.Swaps,futuresandoptionstradinginvolvesignificantriskoflossandmaynotbesuitableforeveryone.Therefore,carefullyconsiderwhethersuchtradingissuitableforyouinlightofyourfinancialcondition.ThismaterialhasbeenpreparedbyasalesortradingemployeeoragentofSchneiderElectricSBandis,orisinthenatureof,asolicitation.Reproductionofthisinformationwithoutpriorwrittenpermissionisprohibited.NopartofthisproposalshouldbeconsideredapartfromtheDisclosureDocumentsanddisclaimersherein.SchneiderElectricSustainabilityBusinessDeveloperInquiries:DesConnolly,ZeigoNetworkCommercialProgramManagerEMEADes.Connolly@se.com+447966274840CorporateInquiries:MiguelGilMast,AssociateDirector,RenewableEnergyandCarbonAdvisorymiguelgil.mast@se.com+4915151694254Thisguideisforinformationalpurposesonlyandnotforthepurposeofprovidinglegaladvice.Althoughwegotogreatlengthstomakesureourinformationisaccurateanduseful,werecommendyouconsultalawyerifyouwantlegaladvice.©2023SchneiderElectric.AllRightsReserved.AlltrademarksareownedbySchneiderElectricIndustriesSASoritsaffiliatedcompanies.SolutionProviderOpportunities:Ifyouwishtobeincludedinourdeveloperdatabase,participateincorporatePPAprocurementprocesses,learnmoreaboutZeigoNetworkanditsbenefitstosolutionproviders,oraboutourservicesandhowwecanpartnerforincreasedimpact:ContactDesConnollyZeigoNetworkCommercialProgramManagerEMEADes.Connolly@se.com+447966274840

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