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Why choose VAT IT 

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Course details

Dates are currently being finalised. Get in touch to find out more
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Green Energy Project Finance

Master the finance and analysis of green energy projects with our 4-day course
  • The Green Energy Project Finance four-day programme will teach you how to analyse renewable/green energy project financing and investment opportunities, with particular emphasis on intermittent technologies like solar and wind, explaining how they differ from conventional power facilities.

    The last day of the course features a hands-on modelling session where you will learn how to construct a model to forecast cashflows of an 8MW solar facility, estimate LCOEs, and test the project for debt capacity and investor returns.

    By the end of the programme, you will know how to structure project transactions to minimize risks and improve the prospects for future strong performance both in existing portfolios and new transactions.

    Who should attend this course?

    • Financiers involved in project finance, investment analysis and syndicated lending
    • Government and Parastatal Executives involved in sponsoring/assessing project finance deals
    • Bankers (Commercial, Investment, Institutional, Corporate and Development)
    • Project Managers
    • Contractors
    • Investment Analysts
    • Project Sponsors


     

     

     

     

  • Day 1

    Themes: Structuring Green Projects and Creating a Security Package; Discovering the Most Efficient Sources of Debt Finance Introduction to Cash flow Forecasting Metrics.

    Overview of Green Energy Project Financing

    • Global Growth of the Market: Countries, Sectors, Drivers of growth
    • Energy usage and investment globally
    • Renewable Energy Projects and Comparative Levelized Cost of Energy (LCOE)

    - Wind Farms

    - Solar Power

    - Landfill Gas

    - Geothermal Energy

    - Small-scale Hydro

    • Global Incentive Programs

    - Feed-in tariffs (FIT)

    - Renewable portfolio standards (RPS)

    - Renewable Energy Credits (RECs)

    - Depreciation, Allowances, etc.

    - Public Tendering

    - Other Grants and Incentive by Country

    • Financing Structures and Players

    Risk Identification and Allocation for a Wind Farm Project

    • Different Approaches/Risks Compared to Conventional Power Project Finance

    - Construction and Warranty Issues

    - Land Acquisition

    - Environmental and Permitting Considerations

    - Technology Advances

    - Operational Issues

    - Transmission and Interconnection

    - PPA Considerations: Availability, Energy and Environmental Credits

    Workshop: Cashflow Modeling for Varying Constituencies

    • Building a Model: Forecasting Techniques and Limitations
    • Cashflow Sensitivity Analysis and Creditor Concerns
    • Sponsor Return Calculations
    • Tax-equity Investors and Considerations

    Case study:
    Delegates break into small groups to evaluate the security package for a wind power plant. They will look at financing choices, structure, project cash flows, and quantify their risk assessments.


    Day 2

    Themes: Legal Issues, Bank Finance, Capital Market Issuance; Political Risk Support; Leasing and Islamic finance


    Further Legal Issues and Contractual Considerations for Intermittent Power

    • Key Contractual Agreements and Structuring Considerations
    • Power Purchase Agreements (Pricing Structures, Milestones and Penalties)
    • Equipment Supply and Timelines
    • Balance of Plant (BOP) Agreements
    • Land Lease
    • Shareholder Structures
    • Special Challenges of Off-shore Wind

    Bank Debt and Capital Markets as Funding Alternatives

    • Bank Debt Term Sheet Considerations, Club Loans and Syndications
    • Domestic and International Capital Markets Access: Eurobonds, Private Placements
    • Rating Agencies, Basel Accords, and Credit Wraps
    • Private Placements and Eurobonds
    • Bank and Capital Markets Convergence
    • Rating Agencies, Basel Accords, and Credit Wraps

    Electricity Price Hedging

    • Commodity Pricing and Hedging Mechanisms
    • Gas and Heat-rate Hedges for Wind and Other Green Energy Projects

    Leasing Structures and Applications in Green Projects

    • Leasing Applications
    • Evaluating Cost

    Case Examples: Wind and Solar


    Solar Power Projects

    • Solar Photovoltaic Systems and Concentrating Solar Thermal (CST)

    - Issues of Scale, Cost and Application

    - Financing Challenges and PPA solutions

    - Roof and Ground Leasing Issues

    - Other Site Requirements

    - Technology Warranties

    • Financing Standards and Requirements; DSCRs, LL Coverage, etc.

    Case study: Financing a Photovoltaic Solar Park in the Capital Markets.
    Evaluating the security package for a utility –scale photovoltaic (PV) solar park. Reviewing the cashflow model to assess LCOE.


    Day 3

    Themes: Base Load Plants; Bio-mass, Hydro and Geothermal Power; Projects in Emerging Markets


    Bio-mass and Bio-fuel Projects

    • Wood Power Generation
    • Generating Energy from Waste
    • Bio-mass and Bio-fuels: What are the Prospects for these Technologies?
    • Emissions, Disposal, and other Regulatory issues

    Case example: Wood-fired Bio-mass project


    Developing Projects in International Markets

    • Sources of Credit and Risk Support for International Green Projects
    • Official Political Risk Enhancement (ECAs, Development Banks and Others)
    • Private Sources of Political Risk Insurance

    Case Discussions: Projects in Emerging markets


    Base load Renewable Producers: Geothermal Plants

    • Where are these facilities located?
    • Technologies: Dry and Flash Steam; Binary Plants
    • Resource Assessment and Drilling Risk
    • Construction and Transmission
    • Government Role

    Case Example: Geothermal Production

    Hydroelectric Facilities

    • Favorable Features and Drawbacks of Hydro-power
    • Conventional Hydro Facilities (Medium and Large)
    • Small-scale Run-of-the River Plants
    • Pumped storage
    • Financing Considerations
    • Structuring Investment and Approaches to Project Solicitation

    Case Study: Financing a small-scale hydro facility. Participants will evaluate the financing package. Transaction requires political risk mitigation as well as consideration of merchant power project risks.


    Day 4

    Themes: Financial and Economic Analysis - Cashflow Modeling Workshop


    Building a Cashflow Model for a Solar facility


    Delegates will assess a wide range of scenarios in order to test a limited recourse financing package for debt capacity and suitability of investment. Includes discussion of common approaches to modeling with Excel, “do’s” and “don’ts” as well as the practical use of models for negotiations


    Structuring the Model and Organizing the Data to Create a Cashflow Statement

    • Developing the Assumptions Page
    • General Plant Parameters

    - Installed Plant Capacity

    - Panel Efficiency

    - Insolation and Panel Wattage

    - Operating Months and Degradation

    • Project Capital Costs

    Financing Section

    • Equity First or Pro Rata
    • Manually Designed Equity Subscription
    • Draw-down of Debt Linked to Specific Contracts or Expenditures or in a Hierarchy

    Developing the Profit and Loss and Balance Sheet

    • Factoring in Reserves
    • Considering Currencies
    • Tax Calculations

    Ratios and Sensitivity Analysis: Objectives and Limitations

    • Measuring Debt Capacity and Investor Return
    • Using Modeling Output for Initial Project Vetting
    • Supporting on-going Negotiations

    Self-test, Summary and Wrap-up of Modeling Workshop

  • 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

  • Meg Osius

    • 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.

    Biography

    Ms. 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.

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.