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Course details

Dates are currently being finalised. Get in touch to find out more
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Solar Finance & Technologies

Financially analyse, model and structure Solar Technologies with this course
  • This course allows participants to understand and explore some key areas:


    SOLAR PROJECT FINANCE
    Introducing the concept of project finance and bonds and their accessibility for solar projects. What means a bankable project and how to understand and meet lender’s ratios

    FINANCIAL ANALYSIS
    We will break-up in groups to analyze financial models of different solar projects and understand the sensitivities of changing input parameters such as Yield, Capex, Opex and PPAs

    FINANCIAL STRUCTURING
    We will continue the group work to discuss solutions on a financial structure to optimize DSCR, debt capacity and Debt:Equity ratio, Equity returns, NPVs, Cash-flow profile and payback

    RISK MITIGATION
    We will discuss the various aspects of risk mitigation and their importance for the financial close of a project. Looking at sample EPC, O&M, PPA contracts and polices to highlight key issues in risk management.

    SOLAR PV ECONOMICS
    Introduce and explain the underlying technology of Solar PV and which factors drive their costs and energy yield. We will put this knowledge into practice and model a Solar PV system to understand the sensitivities to our economic value proposition.

    RESOURCES & ENERGY YIELD
    Understanding the resource assessment report - standard deviation, variance and p50/p90 and their impact on bankability. •Experience of predictability and variability of solar resources assessments over time.

    UTILITY SCALE
    Learnings from national energy transitions in Germany, China and US. Growing curtailment threats in saturated energy markets. Solar tenders and LCOE and PPA lessons learned. Emerging merchant power, trading and the solar hedge against rising electricity tariffs – the new normal.

    GRID INTEGRATION & STORAGE
    Technological breakthroughs in energy storage as a potential game changer for the energy industry. Micro grids, mini grids and smart grid – which to connect where?

    PRIVATE &COMMERCIAL
    Leases, Energy cooperatives, community power and crowd funding – the bottom-up revolution is happening now. Self-consumption and net metering – market snapshots and learnings. Legal challenges for roof-tops and scale.

    OFF-GRID
    20% of world population without electricity access – untapped market potential. Solar pumping, Diesel Hybrids, Plug& play systems, lighting and phone charging. How mobile payment drive off-grid applications. Pay-As-You-Go Business Model to make PV Affordable.

  • DAY 1 – Solar Finance

    DEBT FINANCE

    • Project and bond finance within the renewable sector
    • What means a bankable project?
    • Understand lender’s ratios
    • Project financing structures
    • Complex commercial and legal relationships
    • Understanding the Cash Flow Waterfall
    • Calculation of CFADS, DSCR, LLCR, PLCR
    • How to drive overall debt capacity
    • Reserve Accounts, Cash Sweeps, Cash Traps & Dividend Blockers
    • Impact on equity returns


    RISK MITIGATION

    • Multilateral banks, national development banks and export credit agencies
    • Turn-key contract for engineering procurement and construction
    • Equipment supply agreements – the question of liabilities and responsibilities
    • O&M service contract
    • availability, spare parts and reaction time
    • Manufacturing warranties – typical coverage and what happens afterwards
    • Off-take agreements for power, heat and certificates –the floor is the limit
    • Risk instruments for construction delays, policy changes, curtailment and sun volatility
    • CASE WORK: Looking at sample contracts and polices to highlight key issues in risk management


    FINANCIAL ANALYSIS

    Group work: Analyse financial models on different solar projects and understand the sensitivities of changing input parameters such as
    • Energy yield, uncertainties and the bankability impact
    • Capex & Opex
    • PPAs level and duration


    FINANCIAL STRUCTURING
    Group work to discuss solutions on a financial structure to optimize:
    • DSCR, debt capacity and Debt:Equity ratio
    • Equity returns and Net present value
    • Cash-flow profile and payback


    Day 2 - Solar PV Economics

    PV MODULES & CELLS
    • Silicon, ingots, wafer, cells to modules & solar PV power plants
    • Silicon, thin film, multijunction, organic and concentrated photovoltaics
    • Application – from handheld, to rooftop to gigawatt scale
    • Watt-peak, cell efficiency, performance ratio and STC – Watt means what?
    • Environmental temperatures and degradation
    • Current cost trends and future innovations


    BALANCE OF SYSTEM

    • Balance of system including inverters, transformers, cabling and structural components
    • One-axis and two axis tracking system – increased energy output or headache?
    • System plant design and losses – from DC to AC
    • Single string inverters versus central inverters
    • The efficiency curve in function of rated output power
    • Driving cost down for BoS – where are CAPEX and OPEX heading to


    RESOURCES & ENERGY YIELD

    • From global irradiation to direct, diffuse and horizontal irradiation
    • Why the sun does not shine the same for polysilicon and thin film technologies ?
    • AirMass, Clearness and Clearsky Index
    • Using satellite and terrestrial data available for solar resource assessment
    • Uncertainties of power curves or it wasn't like this in the brochure
    • Understanding the resource assessment report - standard deviation, variance and p50/p90
    • Experience of predictability and variability of solar resources assessments over time


    PV SYSTEM MODELLING

    Group work to model a generic PV plant to examine the sensitivities of
    • different resource data set from various locations in the world
    • Module type and inverter choice
    • Array size, degradation and shading in relation to overall annual energy production, performance ratio and losses


    Day 3 Solar PV Business Models

    UTILITY SCALE

    • Falling CAPEX, short construction time, stable OPEX
    • Solar tenders and around the world lessons learned
    • Property cost and power density beyond of 100MW/km2
    • Solar hedge against rising electricity tariffs
    • Peak power and trading
    • Emerging merchant power – the case for mining companies

    CASE WORK: business & financial modelling of a 100MW solar PV plant


    GRID INTEGRATION & STORAGE

    • Micro grids, mini grids & smart grid – which to connect where?
    • National energy transitions in Germany, China and US
    • Growing curtailment threats in saturated energy markets
    • energy storage as a potential game changer
    • Electricity storage and distribution strategies

    CASE STUDY: Economic impact of storage for a solar PV plant


    PRIVATE & COMMERCIAL

    • The bottom-up revolution is happening now – market snapshots and learnings
    • Self consumption and net metering
    • Legal challenges for roof-tops and what about scale?
    • Leases, Energy cooperatives, community power and crowdfunding – a new force
    • Standardisations driving capital costs downs
    • Efficient installations to reduce CAPEX

    CASE WORK: business & financial modelling of a 100kW solar PV plant


    OFF-GRID

    • 20% of world population without electricity access – untapped market potential
    • Plug& play solar home systems, lighting and phone charging
    • How mobile payment drive off-grid applications
    • Pay-As-You-Go Business Model to make PV Affordable
    • The challenge of consumer finance and payment collection
    • Solar & Diesel hybrids or substitution

    CASE STUDIES: M-KOPA and competitors – the quest for scalability


  • 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
This course can be run as an In-house or Tailored Learning programme

Instructor

  • Christian Grutte

    Biography

    Christian 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.

Venue

London

The course will take place at a Central London hotel.

The map attached details some of our most frequently used venues

If you need help booking accommodation for your visit, please contact accommodation@euromoney.com and one of our partners will help you get the best rate possible.