Rated #1 by Thousands of Participants from Leading Financial and Development Organizations!
An Infocast Business Intelligence Event
September 23-25, 2013 | AMA Executive Conference Center | New York, NY
Learn the Critical Techniques
for Structuring Power Project
Financing in Today’s Market
Hear from Active Solar, Distributed Generation and Thermal
industry experts on:
• How to Structure Project Business Models, Cash Flows
and Economics to Optimize Financing
• How to Utilize Hybrid Deals and Financings to Attract
New Investors
• How to Evaluate Financing Alternatives and Structures for
Renewable Energy Projects: REITs, MLPs, Yieldcos
• Where the Project Finance Market is Headed
Media Partners:
Produced by:
®
Hear from Seasoned Project
Finance Professionals:
AIGAkin Gump Strauss Hauer & Feld LLP Alyra Renewable Energy
Finance, LLC Baker & Mckenzie LLP BBVA
Bryan Cave, LLP Chadbourne & Parke Cooley LLP Deutsche Bank Fluor Corporation
Fulbright & Jaworski LLP Morgan, Lewis &
Bockius LLP Orrick, Herrington &
Sutcliffe LLP Pace Global Pattern Energy PF Engineers Rabobank Standard & Poor’s Stoel Rives LLP
Silver Sponsor:
Featuring TWO Outstanding Events:
September 23, 2013
Primer:
Fundamentals of Project
Finance: Definitions, Principles and the
Integrated Structure
Gain a broad understanding of the principles of Project Finance.
September 24-25, 2013
Project Finance:
The Tutorial
Learn critical insights into the steps you need to take to obtain
financing today’s project finance market.
Where Hedge Funds and Investors Come Together
UPDATED for 2013:
• Case Study:
Distributed
Generation – An
Emerging Asset Class
• New!
Evolving Merchant
Financing Opportunities
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OTHER PARTICIPANTS
BEFORE THE EVENT.
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week prior to the event you will
receive an email with a password
granting you exclusive access to
all other attendees so you can set
up face to face meetings before
the event.
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Project finance allows companies of all sizes to access large amounts
of limited recourse debt and equity capital for energy and infrastructure
developments—when all project risks are identified, assessed and mitigated
through a complex series of project and financial agreements.
However, the project finance market of 2013 has undergone many
dramatic changes. Successful use of this technique in the coming year will
increasingly depend on the ability to understand government incentives
and obtaining new sources of debt and equity capital through alternative
financing structures. Only those with the knowledge of project finance
market basics and nuances of this evolving market will be successful in
navigating today’s challenging market.
Infocast’s
Project Finance: The Tutorial
has taught individuals from both
large and small organizations to effectively structure transactions for over 25
years, enabling these organizations to raise billions of dollars in capital. The
2013 fall edition will not only discuss the time-proven fundamentals of risk
assessment and mitigation, but also provide up-to-the-minute information
on how to best access today’s capital and credit markets. This program
will enable you to profit by providing critical insights into the steps you
need to take to obtain financing. This program presents a unique learning
opportunity to master a truly critical financial tool. Project Finance: The
Tutorial has been rated the #1 introduction to this subject by thousands of
participants from every significant financial and development organization
for its thoroughness and constant updates to current market conditions.
About the Tutorial
Don’t Miss
September 23, 2013 | 12:00PM – 3:30PM
Primer:
Fundamentals of Project
Finance: Definitions, Principles and the
Integrated Structure
Gain a broad understanding of the principles of Project Finance
through this in-depth primer.
Presentation:
Merchant Power Due Diligence
With the re-emergence of merchant financings, primarily through the Term Loan B structure, market risks are more important than ever to understand. The impact of shale production over the short- and long-terms is still uncertain. More recent developments that highlight supply risks are the announced retirement of the San Onofre nuclear plant and the surprising results of the most recent PJM capacity auction. Power demand, influenced by weather, efficiency initiatives, and smart grid, is even less well understood and, in many ways, even riskier. This presentation will address the evolving merchant financing due diligence requirements, including the relationship between natural gas prices and the economics of both gas-fired and non-gas-fired generating technologies; the multiple dimensions of electricity demand; and how to identify what matters and what doesn’t matter to the economic performance of generating technologies in different markets.
Presenter:
Art Holland, Vice President,PACE GLOBAL
Presentation:
The Contractor’s Perspective on Identifying and
Mitigating Construction, Completion and Performance Risk
This presentation will outline the role of the engineering, procurement, and construction (EPC) contractor in project financing. Current market conditions and dynamics will be analyzed, and the effects these changes are having on project development and financing. There will be discussion on risk identification, quantification, and allocation to the responsible party, and how to deal with uncertainties facing contractors, developers, and financiers in today’s market. The presentation will also discuss the contractor’s perspective on using the EPC contractor as a source of equity, and the process for selecting the EPC contractor and reaching contract closure.Presenter:
David Williams, Vice President of Sales, FLUOR CORPORATION
Presentation:
Commercial Issues and Risk Allocation in
Project Documentation
This presentation will review critical terms, provisions and negotiations involved in forming project agreements, including:
» Construction and warranty issues—getting the project built, operating and guaranteed
» Technology advancements—issues in scale up and technology advances
» Operation—where have the problems been?
» Transmission interconnection issues for renewable projects Presenter:
Michael Meyers,Co-Head, Energy & Infrastructure Group,
ORRICK, HERRINGTON & SUTCLIFFE LLP
Presentation:
Project Finance: Current State of the Market
This presentation will provide an overview of the current state of the market, including trends and citing specific deals that have been done via project financing. Presenter:
James Berger,Associate, CHADBOURNE & PARKE LLP
Presentation:
Business Models for Renewable Energy Projects
This presentation will provide sample project pro formas for renewable energy projects, with the goal of illustrating the key revenues and costs of each type of project. It will also spell out the chief project risk factors and how they can be mitigated.
Presenter:
Mona Dajani,Partner, BAKER & MCKENZIE LLP
Project Financing Risk Identification
Presentation:
Environmental Review Process – Identifying
and Mitigating Environmental Risk in an Era of Increased
Environmental Regulation
Environmental risk has emerged as one of the largest stumbling blocks in the way of projects seeking to quickly close financing. This presentation will discuss key environmental issues encountered during financing of new power projects and during acquisition of existing facilities. This will include permits and approvals, including NEPA reviews, compliant environmental design, site issues, compliance issues for operating power plants, and other future issues. The presentation will primarily discuss domestic power plants with some comment on foreign projects, and will explore technical detail during the question period. Presenter:
Philip Karmel,Partner, BRYAN CAVE, LLP
Co-Presentation:
Managing Technical and Resource Risk: Lender
& Independent Engineer Perspective
The risk profiles for thermal, wind and solar projects are quite different. Gas-fired power plants are technically ambitious projects, where the nameplate power may be either undershot or exceeded by substantial amounts due to plant engineering and design features. In contrast, wind and solar projects carry less technology risk, but are subject to resource risk that can substantially impact capacity factors, as well as O&M concerns. This co-presentation will address how to identify and mitigate the technical and resource risks and understanding the criterion from both sides.
Co-Presenters:
Will Marder,Director, Global Product Manager for Project Finance,
DEUTSCHE BANK
Trent Markell, P.E.,Principal, PF ENGINEERS
“
As usual, great leaders of the industry presenting real-time information and
perspectives.
”
— Robert Kim, Partner, Ballard Spahr
“The conference was a huge benefit; it cleared up some of my misconceptions and
reinforced what I had been learning.
”
— Michael Cerniglia, Vice President, CIT
“Great conference as always. Good quality speakers.
”
— Josh Kunkel, Director, IE & Due Diligence, AWS Truepower
Rave Reviews from Past Attendees!
Project Finance:
The Tutorial
A Look Forward: Renewable Energy Projects in 2014
Co-Presentation:
Renewable Energy Market Status and
Financing Structures
The presentation will cover current status and trends in renewable energy project finance market and discuss various structures used to finance projects, including some emerging financing alternatives.
Co-Presenters:
Mohammed Alam, President, ALYRA RENEWABLE ENERGY FINANCE, LLC
Mark Tibberts, Partner, FULBRIGHT & JAWORSKI LLP
Case Study:
Distributed Generation: An Emerging Asset Class
This presentation will focus on how distributed generation projects are structured and financed. Also, provide an overview of key project contracts used in a distributed generation projects, highlight key master financing arrangements commonly employed in distributed generation and outline key issues and challenges involved in the project financings of distributed generation. Presenter:
Ken Kulak, Partner, MORGAN, LEWIS & BOCKIUS LLP
Presentation:
The Return of Tax Equity—Crucial Financing Piece
This presentation will discuss how renewable energy projects attract and structure tax equity investments. Topics include: an overview of the key tax subsidies for renewable energy projects, basic economics of a tax equity investment from both the developer and tax equity’s perspective, different structures used and when to choose one over another, identify key players in the industry and why there is a shortage of tax equity capital and review the major trends in tax equity in the current market.
Presenter:
Eli Katz,Partner,CHADBOURNE & PARKE
Panel Discussion:
Perspectives on Where the Market is Headed
for Renewable Energy Projects in 2014
Hear from banks, institutional debt and active sponsor perspectives on where the market is headed for renewable energy project finance and what is needed by both lenders and borrowers given the changes happening in the market. Panelists:
Trevor s d’Olier Lees, Director, STANDARD & POOR’S
Thomas Emmons,Managing Director, RABOBANK
Bill Harrison, VP, Structured Finance North America, BBVA
Project Finance Risk Allocation
Presentation:
Structuring Partnership Agreements
This presentation will review critical terms, provisions and negotiations involved in forming partnership agreements, including:
» Matching structure to business context and objectives
» Structuring vs. negotiating—key differences
» Assessing the impact of structuring choices
» Advantages and disadvantages of leases vs. partnerships in downside and buyout situation
Presenter:
Ed Einowski,Partner, STOEL RIVES LLP
Presentation:
Structuring Lease Documents & Contracts
This presentation will review critical terms, provisions and negotiations involved in forming lease agreements, including suitable lease structures for renewable energy financings (particularly wind and solar PV), tax benefits available for lease financings, control of site and handling issues in land lease agreements (property rights, liability and indemnification, financial considerations for landowners, default and termination).
Presenter:
Laura Hegedus, Special Counsel, COOLEY LLP
Project Finance Capital Landscape
Presentation:
Credit Requirements in Today’s Lending Environment
This presentation will explain how lenders (both commercial banks and other institutional investors) evaluate project financings that are seeking credit, and will detail what levels of risk relative to project cash flows are financeable in today’s market. It will also discuss some credit enhancement mechanisms that have proven particularly effective at making up any shortfalls in a project’s creditworthiness. Presenter:
Will Marder, Director, Global Product Manager for Project Finance,
DEUTSCHE BANK
Panel Discussion:
Structuring Hybrid Deal Financings to Attract
Institutional and Long-Term Investors
Today’s project finance market is seeing a surge in deals where roles traditionally filled by banks now are attracting interest by pension funds, institutional investors and other long-term investors. How are deals structures affected? This panel will discuss how to incorporate long-term investors seeking steady cash flows into project financings.
Moderator:
Mona Dajani,Partner, BAKER & MCKENZIE LLP
Panelists:
Bob Percopo,Former Executive Vice President, Project Finance Advisory Services, GLOBAL MARINE & ENERGY, AIG
Jeremy Rosenshine, Transaction Counsel, PATTERN ENERGY
Roger Stark,Partner, STOEL RIVES LLP
Project Finance:
The Tutorial (continued)
Wednesday, September 25, 2013 | 9:00AM – 4:45PM
EARLY BIRD
ENDS
Primer:
Primer: Fundamentals of Project Finance:
Definitions, Principles and the Integrated
This half-day program provides an outline and definitions of the principles of the financing medium known broadly as Project Finance. It is a necessary precursor for those unfamiliar with Project Finance. The course is intended for professionals with limited experience in highly-structured financings and will address both domestic and cross-border structures for capital-intensive ventures that are intended to service the return on and the return of capital solely from their operations.
September 23, 2013 | 12:00PM – 3:30PM
Program Outline:
• Key Contractual Issues • Project Risks
• Project Risks (Renewable Projects) • Defining Contract Terms
• Defining Contract Terms (O&M Contracts) • Defining Contract Terms (Supply Contracts) • Defining Contract Terms (EPC Contracts) • Defining Contract Terms (JV Arrangements) • Renewable Energy Project Agreements
• International Market Opportunities • International Project Characteristics
• International Project Characteristics (Benefits) • What Does It Take To Succeed?
• Global Economic Environment • Securing Funding For Projects • Obstacles To Obtaining Financing
• Potential Solutions To Financing Obstacles • Risk Mitigation • Conclusion
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Mail 20931 Burbank Blvd. Suite B Woodland Hills, CA 91367Risk Free Early Bird Rate!
Register by August 23, 2013 to receive the Early Bird Rate risk free! If an Early Bird registration is later canceled, an administrative charge will not be charged and the full tuition amount will be refunded. All Early Bird Rates will be adjusted downward if Information Forecast Inc. publicizes a discounted tuition special offer that would result in tuition rates lower than the published Early Bird Rate amounts to the right.
Discounts:
Government discount available (see box to the right). Team Discount for teams of three or more from the same organization, the third and subsequent registrations qualify for a 50% discount. Discounts are subject to verification and approval. Discounts cannot be combined.
Venue:
AMA Executive Conference Center 1601 Broadway
New York, NY 10019 Phone: 212-903-8060
Website:
http://www.infocastinc.com/pft-fall13
Continuing Education Credits:
Infocast certifies that this activity has been approved for Continuing Education credit by the State of California in the amount of 2 hours for Primer:Fundamentals of Project Finance and 10.75 hours for Project Finance:
The Tutorial. Continuing Education credit hours are subject to change.
Cancellation, Refunds & Credits:
Should you be unable to attend, a refund will be made for cancellations received via letter or fax at least 10 business days before the start of the meeting. We will be pleased to transfer your registration to another member of your organization, or credit the registration fee to another Infocast conference if you register within 6 months from the date of this conference.
A $195 administrative charge will be applied to refunds of registrations received after the expiration of the Early Bird Rate.
In the event an event is cancelled, Information Forecast, Inc.’s liability is limited to a refund or transfer of the registration fee only.
On-Site Materials:
Flashdrives with materials to be provided on-site. Please bring your laptop if you’d like to follow along.
Infocast is a division of Information Forecast, Inc., a California Corporation.
Registration Form
Project Finance: The Tutorial
Septembern23-25,n2013n|nAMAnExecutivenConferencenCentern|nNewnYork,nNY
Please check one or more of the following:
I would like to take advantage of the team discount (see left)
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Tuition Early Bird
(by 8/23/13) (after 8/23/13)Regular (by 8/23/13)Early Bird (after 8/23/13)Regular
Primer: Fundamentals of Project Finance (September 23, 2013)
$395.00 $495.00 $195.00 $295.00
Project Finance: The Tutorial (September 24-25, 2013)
$1,695.00 $2,295.00 $995.00 $1,295.00
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For a list of nearby hotels please visit: www.infocastinc.com/pft-fall13
Instructor:
Dino Barajas, Partner,AKIN GUMP STRAUSS HAUER & FELD LLP
Please make checks payable to: “PMA"