Claiming Back Your VAT
All attendees of a London based course incur VAT as a part of the cost of attendance.
Euromoney Learning have partnered with VAT IT to allow you the unique opportunity to recoup the VAT incurred.
Using VAT IT's extensive experience and simple sign-up and refund process, every invoice can be turned into cash for your business.
Claim the VAT that's rightfully yours in four simple steps:
1. Register your interest
2. Sign a few simple documents
3. VAT IT processes your claim
4. Receive your refund
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.
VAT IT will charge a percentage of the VAT refund if/when it is successful.
Can I claim back the VAT myself?
You can claim back VAT directly from the UK Tax Authority (HMRC) by completing the following form.
For European clients, please refer to form VAT 65.
All other clients, please refer to form VAT 65A.
You may also be able to claim back your VAT against courses taking place outside of the UK, and we would recommend contacting VAT IT, our specialist partner, to discuss how to do this.
Power Purchase Agreements
According to the IEA “More than 70% of the $2 trillion required each year in energy supply investment either comes from state-directed entities or receives a full or partial revenue guarantee.” This revenue guarantee is typically offered as a Power Purchase Agreement in the electricity sector and therefore a crucial element in a project finance environment for IPPs. Bankability of PPAs is especially challenging as most electricity demand growth takes place in emerging countries with offtaker’s creditworthiness at least questionable. Therefore the bankability of PPAs is not only driven by complex contractual clauses within the commercial agreement but by the power sector and country context embedding the foreign invested IPP. More often than not, the project set up requires additional credit enhancements instruments backing the PPA to reach financial close.
This PPA workshop will draw on a database of some 100 PPAs from across the world and all types of power generation technologies. We will further discuss a wide range of country and project case studies from Emerging Markets and compare them with international experience in the power sector. The seminar experience will require interactive involvement of the delegates to discuss cases, conduct exercises and thorough reading of legal documents.
This course draws on a database of some 80 PPAs from around the world covering all type of power generation technologies. It discusses case studies from Emerging Markets and compares them with international experience in the power sector. The seminar experience will require interactive involvement of the delegates to discuss cases, conduct excel exercises and read legal PPA documents.
BASIC TYPES AND KEY FEATURES OF PPAS
- Overall structure of a PPA
- PPA Definitions
- PPA Milestones and Delays
- Tolling and Wheeling Agreements
- Impact of Dispatchable and Non-dispatchable power technologies
- Contract for Differences (CfD)
- Feed-in Tariffs
- Tariff Structures & Escalators
- Levelized cost of electricity
- Capacity and Energy Charge
- Seasonal weighting factors in a PPA
- Calculation of Deemed Capacity and Deemed Energy
- Bonus and Penalty mechanisms
- Invoicing, Billing and Payments
- Tax Exemptions
- Purchasers Affordability of PPA payment obligations
- Review and critical discussion of Bujagali Hydropower plant in Uganda
- Comparison of Solar PPA between South Africa and Egypt
- Credit Support for Offtaker Obligations
- Credit Support for the Project Company's Obligations
- The need for Indexation and multiple currency PPA – “Review of Egyptian Solar PPA
- Government guarantees: “Backstopping the payment obligations of Tobene Power Project,
- Partial Risk Guarantee: “Addressing Transmission Line Delay Risk With A Partial Risk
- Guaranteein Lake Turkana Wind project in Kenia”
- MIGA Political Risk Insurance: “Backstop ongoing payment obligations under KPLC PPAs for
- Thika, Triumph and Gulf Power in Kenya”
- Export Credit Agencies – “Last man standing: How Euler Hermes saved Round 1 Egyptian 50
- MW solar project”
- Developments Finance Institutions and Multilateral Banks “Rebuilding government reliability
- via the Renewable Energy Trust fund from Argentina and the World Bank”
- Currency risk hedging – IFC currency swaps
- Currency risk guarantee fund – Indian Government to pool a solar dedicated hedge fund
- Local currency lending – GuarantCo and TCX as important door openers
- Internal liquidity facility – “Escrow Account for Azito Power Plant Cote d’Ivoire to collect
- sector revenues”
- External liquidity facility – “resolving short-term cash flow shortfall problems via the
- Regional Liquidity Support Facility”
- Liquidity guarantee to support West Nile Rural Electrification Project in Uganda
- Put option, grant and convertible grant, Resource guarantee fund, Portfolio guarantee –
- “Sarulla Geothermal Power Plant and the Indonesia Infrastructure Guarantee Fund”
- Commissioning process, Acceptance and Performance testing.
- Procurement of Electricity
- Measurement and definition of capacity, availability and output
- Metering and delivery point
- Heat rate
- Comparison of start rates, control of output and storage
- Requirements for fuel specifications and quality
- Maintenance programs for power generation plant
- Off-take agreements for heat and certificates
- Curtailment Provisions, Grid discipline and penalties
- Resolving Disputes
- International Arbitration and Investment Agreements
- Lenders Step-in Right
- Cure Periods and Step-In Period
- Local Content
- Boilerplate Provisions
- Environmental & Social Requirements
- Decommissioning requirements
- Buyer Default
- Seller Default
- Put and Call options and pricing
- Post-Termination Obligations
- Non-default Events
- Lender Rights
- Development and Construction Phase Risks
- Land lease agreements for land, cable routes and substation sites
- Liquidated damages
- Operational Phase Risks
- Other Risks
- Force Majeure
- Insurance under construction and under operation
- GROUP WORK: Detailed Risk Assessment of a PPA for a new power plant
- Importance of preparation
- Define your must-obtain objectives and deal breakers
- Best Alternative to a Negotiated Agreement
- Conflict between the stakeholders – risk, margin, returns
- Difference between issues, positions and interests
- Win-win negotiations – understand the other side
- Don’t over negotiate, the aim of a sustainable agreement
- The Satisfaction triangle – procedural, emotional, substantive
- Driving the process – criteria, timings, approvals
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.
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 – we have delivered training solutions for 95% of worlds’ top 100 banks and have trained over 250,000 professionals.
- Knowledge – our 150 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 20,000 events both in person and online, using simultaneous translation to delegates from over 180 countries.
- Recognition – we are accredited by the British Accreditation Council and the CPD Certification Service. In an independent review by Feefo we scored 96% on service and 95% on product
BiographyChristian 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, Christian decided to set-uphis own advisory boutique to serve exclusively the renewable energy sector. In the following years, Christian,supported world leading Utilities, IPPs and Private Equity Investors, such as Iberdrola, AES, RWE, OMV, EnglefieldCapital and Hudson Clean Energy Partners to thoroughly assess international market opportunities andsuccessfully assemble project portfolios across mature and emerging European renewable markets. Based onthis work his clients were able to realize their investment strategy via the acquisition of local partners, greenfieldand operating wind, solar, biomass, geothermal or hydro projects with pipelines of many thousands MWcapacity.Christian became a recommended speaker at leading international energy conferences on topics of marketattractiveness and investment drivers for renewables. He formed part of the Working Group ‘Financing theEnergy Turnaround’ in Frankfurt and was one of the first members of the European Technology Platform forWind 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 asBulgaria, Turkey, Egypt, Georgia, New Zealand, Taiwan, South Korea, Mexico, South Africa or Pakistan. He flagsrisks 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, Christian has successfully delivered energy finance training to hundreds of executives from morethan 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. Additionally he servedas a lecturer in the Renewable Energy Finance Studies Program of the Frankfurt School of Finance andManagement.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, AfricanDevelopment 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, AvengGroup, 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, ProjectFinance, Financial Analysis & Structuring, Risk Mitigation, Loan Term Sheets Elements, Power PurchaseAgreements, EPC and O&M contracts, Resource Assessments, Government Tenders and Policy Incentives,Electricity Market Structures & Liberalization, Electricity Pricing, Project Transactions & Valuations, InnovativeRenewable Business Models.Due to his versatile experience and personality, Christian has the ability to quickly relate to and leverage differentcultural and professional backgrounds of delegates. His objective is not only to train passionately on fascinatingenergy finance topics, but to deliver a seminar experience, where delegates weave together as a group of personsand exchange not merely business cards, but ideas to spur business beyond.Christian holds an MSc in Industrial Engineering and Management from the Technical University of Berlin and isa qualified RYA Yachtmaster Ocean Instructor. He is trilingual in English, Spanish and German and conversationalin French.