Course dates
In this 3 day course participants will learn about:
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Structuring Renewable Energy Projects: Wind, Biomass, Small Hydro, Landfill Gas and Waste to Energy, Solar Risk Assessment and Allocation in Renewable Transactions
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What Countries?
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Incentives: Feed-in tariffs, Renewable Portfolio Standards, Subsidies and Grants, Tax Credits, Depreciation Schedules, and others
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Carbon-Credits and Trading Markets
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Cashflow Analysis and Structuring Alternatives
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Debt and Equity Alternatives and Incentives
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Commodity Price Hedging for Wind and Other Deals
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Managing International Risks
Supported By:
DAY 1: Themes: Renewable Financing, Energy Initiatives and Project Economics; Wind Projects
OVERVIEW OF RENEWABLE ENERGY PROJECT FINANCING
Global Growth of the Market: Various Types of Renewable Energy Projects and Comparative Costs
Snapshot of Global Incentive Programs Designed to Encourage Renewable
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Energy Usage and Investment (Europe, U.S., India, China)
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Feed-in Tariffs
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Renewable Portfolio Standards and Renewable Energy Credits
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Depreciation, Allowances, etc. Financing Structures and Players
RISK IDENTIFICATION AND ALLOCATION IN A WIND PROJECT FINANCING: Different Approaches/Differing Risks from Conventional Power Project Finance
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Construction and Warranty Issues
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Technology Advances
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Operational Issues
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Transmission, Interconnection and Tariffing
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PPA Considerations: Availability, Energy and Environmental Credits
WORKSHOP: Cash Flow Modelling For Varying Constituencies
- Building a Model: Forecasting Techniques and Limitations
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Cashflow Sensitivity Analysis and Creditor Considerations
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Sponsor Return Calculations
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Tax-Equity Investors and Considerations
CASE STUDY: Financing a Wind Power Plant: Participants break into small groups to evaluate this 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; Sources of Finance; Rating Agencies and Wraps; Hedging Schemes; Bio-Mass and Bio-Fuel Projects
CASE DISCUSSION
FURTHER LEGAL ISSUES AND CONTRACTUAL CONSIDERATIONS
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Key Contractual Agreements and Structuring Considerations
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Power Purchase Agreements (Pricing Structures,Milestones and Penalties)
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Equipment Supply and Time Lines (Credit Support, Late Delivery, Liquidated Damages, Risk of Loss of Tax Benefits)
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Balance of Plant Agreements
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Land Lease
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Shareholder Structures
BANK DEBT AND CAPITAL MARKETS AS FUNDING ALTERNATIVES
- Eurobonds, Private Placements
INTEREST RATE, CURRENCY, FUEL AND ELECTRICTY PRICE HEDGING
- Using these Derivates in Wind and Other Renewable Energy Projects
BIOMASS AND BIO-FUEL PROJECTS
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Wood/Power Generation
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Bio-Mass and Bio-Fuels: What are the Prospects for These Technologies?
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Emissions, Waste Disposal, and other Regulatory Issues
CASE STUDY: Wood-fired bio-mass project
CASE STUDY: Bio-mass Fueled Ethanol Production: Participants will break into small groups to evaluate this bio-mass fuel project to produce ethanol. Including discussion of proven and unproven technology, emission controls, fuel transportation and handling. Also, availability of contracts for risk allocation, as well as debt and equity structuring requirements.
DAY 3: Themes: Carbon Credits; International Risks; Solar Projects and Other Technologies
CASE STUDY: Carbon Credit Trading and Renewable Projects
• Clean Development Mechanism (CDM)
• Certified Emissions Reductions (CER):Issuance, Monitoring and Compliance
• Joint Implementation Program (JI)
• EU Emission Trading Scheme (ETS)
• US Renewable Energy Credits and Renewable Portfolio Standard
• Project Cycles and Credit Usage
Case Discussion: Small Hydro in Mexico and Forward Purchase of Carbon Credits
DEVELOPING PROJECTS IN INTERNATIONAL MARKEST: Sources of Credit and Risk Support for International Renewable Projects
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Official Political Risk Enhancers (ECAs, Development Banks)and Others
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Accessing Local Capital Markets in Developing Countries
SOLAR POWER AND OTHER TECHNOLOGIES
- Issues of Scale, Cost and Application
- Constraint on Supplies of Polysilicon
- Governments Incentive Programs
- Financing Challenges and PPA Solutions
- Roof and Ground Leasing Issues; Other Site Requirements
- Technology Warranties
CASE STUDY: Financing a Solar ParkParticipants will evaluate the security package for a Photovoltaic (PV) Solar Park.
New York Hotel, New York, United States
This program takes place on a non-residential basis at a New York hotel. Non-residential course fees include training facilities, documentation, lunches and refreshments for the duration of the programme. Delegates are responsible for arranging their own accommodation, however, a list of convenient hotels (many at specially negotiated rates) is available upon registration.
As with all Euromoney Training programmes on-site administrators are with you throughout the programme to ensure smooth administration and group interaction.
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Margaret E. Osius
Ms. Osius specialises in capital markets, risk management, and international project finance. She works with corporations, financial institutions, public agencies, law firms, and private equity investors. She has considerable
professional experience with the oil and gas, power, transport, and telecom sectors.
Ms. Osius began her career at JP Morgan Chase Manhattan Bank, where she structured highly leveraged transactions and project financings and advised clients on foreign exchange and other price risk management strategies. Ms. Osius was responsible for a team of analysts responsible for evaluating the quality of the bank’s global loan portfolio as well as that of its newly acquired affiliates. In that role she had extensive experience with workout and distressed debt. 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. The World Bank has published her articles on approaches to financial analysis in emerging markets.
From 2000 to 2007 Ms. Osius was a member of the Technical Advisory Panel (TAP) of the Public Private Infrastructure Advancement (PPIAF) managed by the World Bank. In 2006 and 2007 she was the TAP’s chairperson. The fund provides technical assistance to emerging market governments in order to encourage private involvement in infrastructure development. Ms. Osius received an M.B.A. from INSEAD, the European Institute of Business Administration, in Fontainebleau, France. Her B.A. degree is from Princeton University.
Courses run by this instructor
Interested in holding this course in-house? Please fill out your details and a member of our team will be in touch with more information.
23-26 Jul 2012 (Miami, United States)
This practical training course examines current best practice in all aspects of corporate governance, from the new role of board committees and directors’ responsibilities and powers, to best implementation of governance in day-to-day activities. The costs and benefits of best practice governance will be examined and practical guidance will be given on such issues as the relationship with shareholders and other stakeholders, managing and meeting the expectations of the market, international investors and local government and regulatory authorities.
11-15 Jun 2012 (New York, United States)
12-16 Nov 2012 (New York, United States)
This program is designed to help participants break the project analysis process into its component parts. While differentiating between countries and industrial sectors, sessions introduce techniques for assembling market information and making qualitative judgments, as well tools for conducting thorough quantitative financial analysis.
11-13 Jul 2012 (New York, United States)
This course provides participants with a comprehensive and detailed analysis of vanilla and exotic options, pricing, risk characteristics, and their dynamic behavior in the context of the management of a portfolio and a combination of proprietary risk strategies combined with flow trading and market making responsibilities.
5-7 Nov 2012 (New York, United States)
This course is designed to help corporate board members understand how to respond to this challenge. We walk participants through each of the essential processes of financial and operational risk management highlighting areas where they must be in a position to challenge the risk management function. We then give considerable attention to the formation of the board’s risk sub-committee, discussing when it should take form, how it should take form and how it should function in relation to the board’s audit committee in particular.
13-17 Aug 2012 (New York, United States)
13-16 Aug 2012 (New York, United States)
17 Aug 2012 (New York, United States)
Formal lecture sessions, innovative deals and numerous examples of projects in the oil and gas, power and water desalination sectors are drawn from around the world and discussed
throughout the course. You will develop a framework for recognising, and analysing qualitative and quantitative project risks. Formal lecture sessions, innovative deals and
numerous examples of projects in the oil and gas, power and water desalination sectors are drawn from around the world and discussed throughout the course. You will develop a framework for recognizing, and analyzing qualitative and quantitative project risks.
3-6 Dec 2012 (New York, United States)
This practical training course examines current best practice in all aspects of corporate governance, from the new role of board committees and directors’ responsibilities and powers, to best implementation of governance in day -to-day activities.
12-15 Nov 2012 (New York, United States)
A training program providing you with a complete up to date practical analysis of the complex requirements of International Financial Reporting Standards.
1-3 Oct 2012 (New York, United States)
Project Modeling Masterclass is an intensive hands-on course in which participants receive comprehensive instruction on accounting, programming, engineering, statistical and economic aspects of project finance models. We believe that in a few days, participants can become proficient in project finance modeling and produce models that are consistent with top flight banks and investment banks
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Course dates