DAY ONE Wednesday June 3rd, 2015
8:15 Registration and refreshments
9:00 Chairperson’s opening remarks
9:15 Keynote Address: Government insights on post reform energy market developments
- How is the government ensuring sufficient support institutions to enable a smooth market transition?
- Market restructuring: Striking the right balance between cheap vs. clean vs. sustainable vs. reliable energy supplies
- Realizing Mexico's energy market potential through procedural changes
- Guillermo Ignacio García Alcocer, Head of Policies for Exploration and Extraction of Hydrocarbons, Mexican Ministry of Energy
9:45 Interpreting reforms: Initial expectations, realities and future projections
- Where are we now? Have recent developments met expectations?
- How is the energy spot market developing? What challenges have been faced?
- What impact are reforms having in the short term and long term for energy financing?
- Hector Olea, President and CEO, Gauss Energia
- Hector Torres, Director Legal, AES Mexico
- David Fatzinger, General Manager Latin America, InterGen
- Raquel Bierzwinksy, Partner, Chadbourne, moderating
10:30 Morning refreshments and networking break
11:15 What impact does a shift towards Mexican-based governing law for credit documentation have on financing prospects?
- Analysing implications of structuring a US$ financing under Mexican law
- How has international investment appetite been affected by Mexican-based governing law for credit documentation?
- How are project sponsors assessing prospects?
- Guillermo Ortiz Ayala, Director, Project Finance, MUFG
- Michell Nader S., Partner, Nader, Hayaux y Goebel
- César Vértiz Pedemonte, Managing Director, Head of Project Finance Mexico, Banco Santander
- Dorian Calderon, Managing Director, LatAm Project Finance, Credit Agricole
- Jose Ignacio Segura, Partner, White & Case, moderating
12:00 How can the Nordic high yield bond financing model for oil and gas assets be
applied in Mexico?
- How will financing needs for oil and gas assets change following reforms?
- What are the main issues with utilizing the Nordic model? Can these be overcome in the Mexican market?
- Discussing the lack of past experience in assessing construction and development risks of oil and gas assets in Mexico and the effect on investor confidence
- Highlighting challenges of assessing risk levels in a nascent market
- Bjørn Aune, Senior Partner, Pareto Securities Ltd
12:30 Lunch
14:00 Afore participation in energy and infrastructure financing: Analyzing different CKD models and requirements
- Easing the mismatch between Afore ticket size demand and project availability
- How can fund managers help to promote medium sized investment tickets in order to broaden the number of projects able to utilize Afore money?
- Developers’ concerns: Are equity requirements too high?
- Juan Manuel Verón, Chief Investment Officer, Principal Financial Group
- Santiago Ortiz, Chief Financial Officer, GBM Infrastructura
- Arturo Hanono Castaneda, Chief Investment Officer, MetLife
- Juan Manuel Gonzalez, Partner, Greenberg Traurig, moderator
14:45 Case study - Marhnos: Overcoming difficulties of setting up a CKD for a specific developer
- Establishing a true partnership: Developer and Afore working under the same terms and sharing risks
- Timing issues with identifying target projects and financing needs, approving projects and ensuring financing through CKDs
- What are the advantages of working so closely with an Afore? How easily can this be replicated?
- Juan Luis Flores, Chief Financial Officer, Marhnos
15:15 Afternoon refreshments and networking break
15:45 Navigating uncertainty and planning ahead for electricity projects
- How will lower electricity prices affect the bankability of projects?
- Are developers comfortable with taking on more risk and making higher equity investments?
- How does the market view increased risk concentration?
- What conditions are required to develop financially sound electricity projects?
- Fernando Artaza Bilbao, International Finance Director, Abengoa
- Mtro. Alvaro Portellano Alvarez, Head of Local Regulatory Affairs, Iberdrola Renovables Mexico
- Pedro Javier Reséndez Bocanegra, Partner, Greenberg Traurig
- Astra Castillo, Director and Head of the Mexican Infrastructure and Project Finance Analytical Team, Fitch Ratings, moderator
16:30 How will the changing electricity market sphere affect appetite for renewables
investments?
- How can renewables projects be made more competitive in a spot market? What role could the CFE play in facilitating this?
- What could renewables certificates do for the market?
- Will the market see more M&A activity to make most use of old laws? Who will invest in new projects with the current law?
- Alejandro Peraza García, General Director of Electricity and Renewable Energy, Comisión Reguladora de Energía (CRE)
- Adrian Escofet, CEO, Zapoteca de Energia, Chairman, AMDEE
- Gustavo Eiben, Managing Director, The Rohatyn Group
- Miguel Angel Alonso Rubio, Managing Director, ACCIONA Energy Mexico
- Marian Aguirre Nienau, Leader of the Renewable Energy Department, Bancomext
- Dr. Stefan Blum, Director, DEG
17:30 Chairperson’s closing remarks followed by drinks reception
DAY TWO Thursday June 4th, 2015
8:30 Registration and refreshments
9:00 Chairperson’s opening remarksPedro Javier Reséndez Bocanegra, Partner,
Greenberg Traurig 9:15 Infrastructure requirements following energy market developments: Thriving pipeline projects
- Highlighting the expansion of US-Mexico pipeline developments and implications of cross-border
- projects
- Easy access to the market – good for low risk investors?
- Discussing aggressive pricing and the importance of development banks to enable long tenor financings
- Adi J. Blum, Director, First Reserve
- Liliana Rendon, VP Sales Trust & Agency Services, Deutsche Bank
- Alejandro Villarreal, Director of Energy & Infrastructure Concessions, Arendal
- Sam Sherman, Executive Director and Head of Latin American Project Finance, SMBC
- David Jiménez, Partner, Chadbourne, moderating
10:00 LNG: Analysing the shift to liquefaction terminals and financing requirements
- How is the market overcoming the lack of experience with LNG liquefaction projects?
- Are American project finance models being adapted to suit local needs or are alternative structures being developed?
- Discussing offtaker involvement as project sponsors and the effect on project risk
- Case study: Learning from Pemex’s Salina Cruz Project
10:30 Morning refreshments and networking break
11:00 The Public-Private-Partnership law: What has led to its underperformance and
how can APP projects succeed in the future?
- Regulation and bureaucracy: Discussing the impact of requirements and procedures
- What has been the reason for low numbers of unsolicited proposals?
- How can we work with what we have and push for new project developments?
- Úrsula Carreño Colorado, Head of the Investment Unit, Ministry of Finance and Public Credit
- Arturo Olvera, Socio Director, MTH Capital
- José Enrique Silos Basurto, Director, INVEX
- Jorge Moguel, Chief Infrastructure Officer, GIA
- Marcos Nogueron Espinosa, Director of Consulting, Cal y Mayor Asociados, moderator
12:15 Advantages of bonds in infrastructure projects: Longer tenors and more flexibility
in the long run?
- Discussing construction risk, multilateral guarantees and resulting potential of project bonds
- Differentiating between bond attractiveness of PPPs versus concession projects
- Analysing sovereign guarantees for bonds as seen in Peru: How could this be replicated in Mexico?
- Paulo Fernandes, Head of Corporate and Project Finance, Mota-Engil
- Jose Coballasi, Senior Director, Analytical Manager, Utilities & Infrastructure Ratings, Standard & Poor’s Ratings Services
- Janne Sevanto, Senior Financial Officer, Treasury Client Solutions, IFC
- Pablo Garcia Aguilar, Chief Financial Officer, ICA
- Jesus Antonio Leal Felix, Director Energy & Environmental Manager, Banobras
- David Gonzalez, Head of Infrastructure Project Finance Latin America, Sumitomo Mitsui Banking Corporation, moderator
13:00 Closing remarks followed by lunch and close of the conference