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.
Project Finance Cashflow Modeling
The Project Finance Cashflow Modelling course represents module 2 of the Project Finance Academy.
This one-day course offers allows you to gain hands-on experience building a cash flow model for an Liquified Natural Gas (LNG) facility project using Excel-based software. Through group discussions and practical exercises, you will test a limited-recourse financing package for debt capacity and attractiveness to investors and consider the use of models for negotiations.
By the end of the course, you will have built a pro forma project model suitable for examining debt capacity and project return on investment.
Who should attend this course?
• Bankers/Investment Bankers
• Project Finance Modelers
• Financial Advisors
• Sponsors/Project Joint Ventures
• Project Developers
• Government/PPP Agencies
• Public Sector Managers
• Export Credit Agencies
• Multilateral Agencies
The Project Finance Academy comprises four workshops that can be booked together or separately:
• Module 1: Advanced Project Finance Workshop (4 days)
• Module 2: Project Finance Cashflow Modelling (1 Day)
• Module 3: Financing Natural Resources: Oil, Gas and Mining Projects (2 Days)
• Module 4: Infrastructure Finance and PPP (2 Days)
The Context Of The IPP Within The Power Sector
Power Market Structures from Horizontal and Vertical Unbundling to Privatization
Difference of Single Buyer PPA and Wholesale market PPA
Importance of Energy System Planning and Public Procurement of IPPs
Competiveness and Transparency within Tenders and Unsolicited Proposals
Local content and potential conflicts of interest
Mexico power sector reform: from zero to heroe
Vietnam's IPPs Sector Toward Market Liberalisation
South Africa best practice IPP procurement program or not?
Context of the PPA within the project set-up
Main risks of an IPP during developing, construction and operation
Role of project contracts to mitigate risks
Why a PPA at all and the fit into the overall project set-up
Understanding the link to Project Finance
Lenders requirements and debt ratios
CASE STUDY: Financial Structure of Oman Sohar2 Natural Gas IPP
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
GROUP WORK: Seller & Buyer Role Play getting to terms
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
GROUP WORK: Analysis & Comparison of two PPA timelines as the core framework for allocating risk between seller and buyer
Pre-Commercial Operation Date Period
Back to back requirements with the EPC contractor
Development bonds, Performance Bonds and Letter of credits
Fine tuning with the Fuel Supply Agreement and Interconnection Agreement
Bankable Insurance program for the IPP and EPC contractor
Delays caused by lack of utilities, equipment, grid connection and conditions of site
Definitions of achieved, declared, contracted and minimum capacities
Delay and Performance Liquidated Damages – calculation and different structures
Testing & Handover procedures and risk to achieve COD on time
Declaration of Commercial Operation Date – an idea becomes reality
Deemed COD, Capacity and Energy – as-of clauses to keep going
Post-Commercial Operation Date Period
Invoicing, Billing and Payments procedures or show me the money
Impact on working capital requirements and bankability
Availability, Planned Maintenance Outages and requested changes
Timing and Charges for Black, Cold, Warm and Hot start
Requirements for heat rate, fuel specifications, quality and storage
Prudent Utility Practice, emergency procedures and manufacturer warranties
Non-discriminatory economic dispatch and conflict of interest
Allowed Grid Unavailability Periods, Curtailment and Deemed Energy provisions
Events beyond Business-As-Usual
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
Put and Call options and buyout pricing methodology
GROUP EXERCISE: Structured Risk Allocation between Seller and Buyer
Throughout the day delegates will work through a long list of questions on each topic to identify the risk taking on by the Seller and Buyer respectively by analysing sample clauses from a range of fuel based and renewable PPAs.
PPA Tariff Structures
Understanding Levelized Cost of Electricity, Cost of Capital and their impact on tariffs
Tariff Structures for fuel based and intermittent power generation technologies
Take-or-Pay versus Take-and-Pay contracts
Capacity and Energy Charge and Pass-Through Clauses
The rational for indexation and escalation of local, foreign inflation and currencies
Seasonal weighting factors in a PPA
Locational Marginal Pricing and grid charges
Competitive Tenders for Tariffs with Cost Openers
Marginal Cost and the Merit Order Effect in competitive wholesale electricity markets
Contract for Differences, Sleeved and Synthetic PPA structures
CASE STUDY: Split tariff and indexation in Egypt and Bangladesh PPAs
GROUP EXERCISES: Tariff simulation and sensitivity analysis of key variables for various types of remuneration schemes
OFFTAKER’s CREDIT WORTHINESS and CREDIT ENHANCEMENT INSTRUMENTS
Quasi fiscal deficit and non-cost reflective tariffs within emerging markets
Corporate offtakers as the new kids on the block
Credit Support for Offtaker and Project Company's Obligations
Escrow Accounts and Structural measures as liquidity facilities
Government guarantees and limitations in obtaining them
Partial Risk Guarantee and the requirements of an indemnity agreement
Political Risk Insurance covering debt and equity providers
Currency Convertibility risk and difficulties to mitigate them
Currency risk hedging and risk guarantee fund
Local currency lending
Export Credit Agencies, Developments Finance Institutions and Multilateral Banks
- Indonesian Infrastructure Guarantee Fund buffering PLN payments
- Azura-Edu gas power project– the white unicorn in Nigeria
- AES Tiete: Expansion plant in Brazil
- Bujagali Hydro Power project in Uganda from trouble to
- GuarantCo and TCX going where nobody dares to go
- Lake Turkana Wind project – it had to happen…late
- TermoEmcali Colombia Natural Gas Project
- IFC and the Tata Mundra Power Plant in India
- …plus selective other case studies according to upcoming discussions!
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 – 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
- Equipping stakeholders to respond rapidly to the exploding array of global project finance opportunities, is the objective of my courses. We show participants numerous successful - and troubled – project transactions. If they return to the office armed with concepts and a framework for analysis that they can apply to their own portfolios, we’ve met our goal.
BiographyMs. Osius designs and delivers executive level training sessions as well as providing consulting services to a wide variety of organizations worldwide. Specializing in international project finance, capital markets, and risk management, she works with corporate investors, private and development banks, equipment suppliers, law firms etc., to structure viable financing packages for green-field projects and facility upgrades in the power, oil and gas, transport, social services and telecom sectors. Prior to establishing her own firm Ms. Osius was a banker at JP Morgan Chase Bank where she structured international project transactions and advised clients on risk management. Ms. Osius has published articles in the business press and co-authored several self-study guides covering international project finance, trade and export finance, foreign exchange, and financial futures, as well as financial analysis in frontier markets. She is a primary speaker in a series of video sessions on Sound Banking Principles. Ms. Osius is a Director of British Caribbean Bank and Waterloo Holdings. Previously she was Chair of the Technical Advisory Panel of the Public Private Infrastructure Advancement Fund (PPIAF). The fund supports technical assistance in emerging markets to encourage private involvement in infrastructure development. She received an M.B.A. from INSEAD, the European Institute of Business Administration, in Fontainebleau, France. Her B.A. degree is from Princeton University.
The map attached details some of our most frequently used venues
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