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Claiming Back Your VAT
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Why choose VAT IT
VAT IT have spent two decades identifying, researching and perfecting the foreign VAT Reclaim process and built the best back end technology in the industry. By partnering with Euromoney Learning, we can provide you with a fast and effective way to reclaim your VAT which helps reduce the cost of your training.
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Can I claim back the VAT myself?
You can claim back VAT directly from the UK Tax Authority (HMRC) by completing the following form.
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Corporate Power Purchase Agreements
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The global power markets are rapidly evolving and transitioning towards ever-increasing quantities of clean energy – Power Purchase Agreements (PPAs) allow both IPP power producers and buyers to obtain long-term security to sell and buy renewable energy. For both generators and buyers of renewable energy PPA need to address their individual circumstances and risks.
This highly specific course aims to introduce the legal, financial and technical structure and hidden pitfalls of PPAs as a means for Sellers and Buyers to minimise their exposure to volatility of price and volume. The structure of physical and financial PPAs will be thoroughly dissected and put into context of the overall risk assessment of the project transaction. We will compare both types of PPAs, their different tariff structure based on either costs or market price and the implication for the seller and buyer.
Delegates will be engaged to discuss recent case studies from around the world, embark on group exercises of risk allocation and will revising real world PPA clauses in order to dig out the gist of this mission critical project agreement.
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DAY 1
The corporate PPA in context
- Scale of the corporate PPA market compared to general market size
- Who is buying who is selling what?
- Drivers of corporate PPA
- Wholesale prices and Interconnection capacity as a mega driver
Basic types and key features of corporate PPA
- Existing assets versus newly developed assets
- Sleeved and synthetic PPA
- Contract for difference
- Bundled, certificates only or electricity only PPA
- Behind the meter or ‘on-site’ PPA
- Fully contracted asset versus partly merchant asset
- Pooling different load profiles as a buyer group
- Multiple Corporate PPA and first right of power
Overall structure of a PPA
- Definition of commercial terms
- Risk to bankability
- Obligations and Undertakings of each party
- Conditions Precedents to be on the safe side
- PPA Definitions and Annexes
DAY 2
PPA Timing and Milestones
- From Signing to Expiry Date
- Scheduled Dates, Actual Dates and Events
- Changing Rights and Obligations at each dates
- Release of obligations in certain events
- Pre-COD and Post-COD periods
- Periods to exercise rights, notify and cure
- Termination rights not meeting milestones
Pre-Commercial Operation Date Period
- Order of execution of other project contracts
- Back to back requirements with the EPC contractor
- Development bonds, Performance Bonds and Letter of credits
- Definitions of achieved, declared, contracted and minimum capacities
- Delay and Performance Liquidated Damages – calculation and different structures
Post-Commercial Operation Date Period
- Delivery Point, Metering and Losses – the devil is in the detail
- Invoicing, Billing and Payments procedures or show me the money
- Impact on working capital requirements and bankability
- Availability, Planned Maintenance Outages and requested changes
- Prudent Utility Practice and manufacturer warranties
- Allowed Grid Unavailability Periods, Curtailment and Deemed Energy provisions
DAY 3
PPA tariff structures
- Understanding Levelized Cost of Electricity, Cost of Capital and their impact on tariffs
- Tariff Structures for intermittent power generation technologies
- Take-or-Pay versus Take-and-Pay contracts
- The rationale for indexation and escalation of local, foreign inflation and currencies
- Discount to market indexes
- Price collar structures
- Seasonal weighting factors in a PPA
- Locational Marginal Pricing and grid charges
Specific considerations for corporate PPA
- Forecast wholesale price uncertainty and fixing the strike price
- Counterparty risk and long term creditworthiness of the generator and off-taker
- Power consumption load profile and changes over time
- Additionality and Guarantee of Origin
- Scheduling and balancing risks
- Wholesale power price linked PPA
Events beyond Business-As-Usual
- Dispute Resolution, Cure Periods and Arbitration
- Lenders Step-in Rights
- Political and Natural Force Majeure Events
- Changes of Law and Stabilization clauses
- Consequences of Force Majeure and Changes of Law
- Seller or Buyer Event of Default
- Termination rights of PPA by either side
- Termination payment pricing methodology
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Our Tailored Learning Offering
Do you have five or more people interested in attending this course? Do you want to tailor it to meet your company’s exact requirements? If you’d like to do either of these, we can bring this course to your company’s office. You could even save up to 50% on the cost of sending delegates to a public course and dramatically increase your ROI.
If you want to run this course at a location convenient to you or if you want a completely customised learning solution, we can help.
We produce learning solutions that are completely unique to your business. We’ll guide you through the whole process, from the initial consultancy to evaluating the success of the full learning experience. Our learning specialists ensure you get the maximum return on your training investment.
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We have a combined experience of over 60 years providing learning solutions to the world’s major organisations and are privileged to have contributed to their success. We view our clients as partners and focus on understanding the needs of each organisation we work with to tailor learning solutions to specific requirements.
We are proud of our record of customer satisfaction. Here is why you should choose us to help you achieve your goals and accelerate your career:
- Quality – our clients consistently rate our performance ‘excellent’ or ‘outstanding’. Our average overall score awarded to us by our clients is nine out of ten.
- Track record – 10/10 of the world’s largest banks have chosen us as there training provider and we have delivered training across the largest banks and have trained over 25,000 professionals.
- Knowledge – our 100+ strong team of industry specialist trainers are world leading financial leaders and commentators, ensuring our knowledge base is second to none.
- Reliability – if we promise it, we deliver it. We have delivered over 25,000 events both in person and online, using simultaneous translation to delegates from over 99 countries.
- Recognition – we are accredited by the British Accreditation Council and the CPD Certification Service. In an independent review by Feefo we scored 4.2/5 on service and 4.7/5 on Coursecheck
Instructor
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Biography
Your trainer is an independent financial advisor with some 18 years’ experience in the power & renewable sector. He started out his career in a leading North European Strategy Consultancy, where he made substantial contributions to build the energy practice within the firm. He developed and implemented innovative distributions concepts for utility clients to face the competitive challenges of the newly liberalized German electricity market. In 2002, anticipating the tectonic shifts to arrive in the energy sector by renewables,he decided to set-up his own advisory boutique to serve exclusively the renewable energy sector. In the following years, he, supported world leading Utilities, IPPs and Private Equity Investors, such as Iberdrola, AES, RWE, OMV, Englefield Capital and Hudson Clean Energy Partners to thoroughly assess international market opportunities and successfully assemble project portfolios across mature and emerging European renewable markets. Based on this work his clients were able to realize their investment strategy via the acquisition of local partners, greenfield and operating wind, solar, biomass, geothermal or hydro projects with pipelines of many thousands MW capacity. He became a recommended speaker at leading international energy conferences on topics of market attractiveness and investment drivers for renewables. He formed part of the Working Group ‘Financing the Energy Turnaround’ in Frankfurt and was one of the first members of the European Technology Platform for Wind Energy, as well as of EWEA, ACORE, LAWEA, EUBIA, ESHA and EGEC. Since ten years, Christian, focuses on the particular challenges of power projects in emerging markets, such as Bulgaria, Turkey, Egypt, Georgia, New Zealand, Taiwan, South Korea, Mexico, South Africa or Pakistan. He flags risks to international investors coming from regulatory environment, grid connection and competitors. Developers are supported to raise equity, mitigates risks via the creation of international project consortia and achieve project finance bankability with domestic and international lenders. Since five years, he has successfully delivered energy finance training to hundreds of executives from more than 80 countries in plus 50 seminars in the UK, Germany, Spain, Italy, Denmark, The Netherlands, UAE, the US, Chile, Mexico, Brazil, South Africa, Egypt, Georgia, Cote d’Ivoire, Indonesia and Hong Kong. Delegates come from leading financial institutions, industrial corporations and governments such as e.g. IFC, FMO, GIZ, IFU, Obviam, KfW, HBOR, European Investment Bank, UNDP, Asian Development Bank, African Development Bank, African Finance Corporation, JBIC, Industrial Development Corporation, Banco Santander, Enel, E.ON, Vattenfall, Endesa, Eskom, Total, Sumitomo, Gamesa, Siemens, Akka Enerji, Akzo Nobel, BP, Shell, Abengoa, Energomontaza, Mitsubishi, SgurrEnergy, PwC, Investec, RES, The Crown Estate, Coca-Cola, Procter&Gamble, Pacific Gas & Electric, Omrom, OFGEM, Munich Re, AES, Alstom, Schneider Electric, Aveng Group, Air Liquide, NEPRA, Saudi Aramco, King Saud University, Swicorp, Qatar Petroleum, K.A. CARE. Some of the topics delivered include Renewable Technologies & Economics, Independent Power Projects, Project Finance, Financial Analysis & Structuring, Risk Mitigation, Loan Term Sheets Elements, Power Purchase Agreements, EPC and O&M contracts, Resource Assessments, Government Tenders and Policy Incentives, Electricity Market Structures & Liberalization, Electricity Pricing, Project Transactions & Valuations, Innovative Renewable Business Models.
Venue
Virtual
