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Agenda Overview

Day One: Thursday, January 19, 2017

8:00AM Registration and morning refreshments
8:45AM Chairperson's opening remarks
9:00AM IJGlobal introductory data presentation
Chase Collum, Senior Reporter, North America, IJGlobal
9:15AM The Canadian power financing environment: Current trends and room for innovation

• The cost of capital to project sponsors in the current Canadian economic environment: Do project loans remain cheap?
• How do the terms and tenor offered by different lenders and investors differ?
• Where do bank and bond financing intersect? Why choose one over the other?
• Examining innovative ways to finance smaller projects

Andrew Eckhardt, Vice President, KfW IPEX-Bank
David Jesty, Managing Director, Manulife Financial
John Pak, Managing Director, National Bank Financial
Bruce Fowler, Partner, Borden Ladner Gervais LLP
Tyler Hume, Executive Director, Global Infrastructure Finance, CIBC Capital Markets
Carmelo Restifo, Director, Project Finance, MUFG
10:00AM The secondary market: Exploring the drivers behind current levels of power asset acquisition and sale

• The rationale behind the interest of different investor types in the secondary power market in Canada and abroad
• At what stage in the project cycle does secondary asset sale and purchase become viable?
• What bank and capital markets financing tools are on offer to participants in the secondary market?

Scott A Kraag, Partner, Torys
Paul Huebener, Partner, DIF
Andrew Cogan, Managing Director, Fengate Asset Management
Juan Caceres, Vice President and Senior Investment Director, Axium Infrastructure
Jean Trudel, Chief Investment & Development Officer, Innergex
10:45AM Morning refreshments and networking break
11:30AM Keynote Session: The Climate Leadership Plan: Achieving renewables targets in Alberta’s wholesale power market

*Details and practicalities regarding the plan’s realization are presented to the audience, before a period of questions from the floor*
• Contract design, pricing and bidding process: Examining the nuts and bolts of AESO’s renewable electricity incentive program
• An unstoppable movement? Assurances regarding the long-term provincial commitment to renewable power
• Dealing with the pushback from Alberta’s incumbent producers as the coal phase-out becomes reality

Michael Law, Senior Vice-President and Chief Operating Officer, AESO
12:00PM Market reaction panel: Gauging market participant sentiment towards the Albertan power paradigm shift

• How are Alberta’s incumbent power producers, and their existing contracts, adapting to the change?
• What are the key risks for new market entrants?
• To what extent has successful competitive procurement been made viable by market redesign?
• Assessing the bankability of renewable power projects in Alberta following reform: Would non-recourse financing be available?
• How can energy storage be leveraged to make wind and solar work in the province?

Destin Cook, Director of Finance, Nextera Energy
Nick Boyd, EVP, Origination & Development, BluEarth Renewables
Linda Bertoldi, Partner, Borden Ladner Gervais LLP
Bryan DeNeve, Senior Vice President, Finance and CFO, Capital Power Corporation
Kipp Horton, President & Ceo, WindRiver Power
12:45PM Lunch
2:15PM Market Reaction Panel: Input from project finance lenders based on the proposed details of Alberta’s Climate Leadership Plan
  • Initial reaction to the plan from potential project finance and corporate lenders
  • A lenders’ view on the strengths and weaknesses of the proposed program
  • Areas of the proposed program where further details are required, and suggestions on preferred structures
John Niedermier, Director Corporate Banking, National Bank Financial
Gaurav Mittal, Vice President, Canada Life
Peter Mastromarini, Managing Director & Group Head, Project Finance, Infrastructure, Power & Utilities, CIBC Capital Markets
Rob Nicholson, Managing Director, Energy & Power Group, RBC Capital Markets
Nick Tropak, Partner, Blake, Cassels & Graydon
3:00PM Connecting Aboriginal and industry leadership: The importance of First Nations involvement in successful power projects

• From participant to project driver: Examining the changing role of the Indigenous community in power projects
• The macro-federal attitude towards First Nations economic development and its knock-on effect on power
• As a leader in aboriginal affairs, how will Ontario incentivize First Nations involvement in LRP II?
• Financing Indigenous entry into the solar sector as remote communities eschew diesel

Mac Bell, Director, Fengate Capital Management
Valerie Helbronner, Partner, Torys
Matt Jamieson, President & Ceo, Six Nations of the Grand River Development Corporation
3:45PM Afternoon coffee and networking break
4:15PM Explaining Ontario’s power plan in the wake of LRP II’s cancellation: Where will the opportunities come and how will procurement look?

Mike Lyle, of the IESO, will outline how the power plan in Ontario has changed, before a period of questions from the floor

Moderator: Bryson Stokes, Partner, Blake, Cassels & Graydon LLP
Mike Lyle, Vice-President, Planning, Law and Aboriginal Affairs, IESO
4:45PM Assessing the current refinancing environment and the opportunities for project owners

• Understanding how attractive pricing and a flux of projects approaching their operational phase has created the perfect refinancing storm
• Comparing the refinancing tools provided by loan providers and the capital markets
• Who’s investing in project bonds issued through refinancing? What makes this an attractive asset class?
• As project procurement ebbs, will refinancing continue to provide the flow for Canadian banks and debt investors?

Richard Lee, Managing Director - Project Finance, Manulife Financial
Anthony Spadaro, Partner, Davies
Matt Schwann, Director, Finance, BluEarth Renewables
Hugh Sutcliffe, Director and Head of Canadian Office, JCRA Canada
Colin Edwards, Vice President, Business Development, Canada, Pattern Energy
Matt O’Brien, President, Connor Clark & Lunn
5:30PM Chairperson’s closing remarks followed by cocktail reception

Day Two: Friday, January 20, 2017

8:15AM Morning refreshments
8:45AM Chairperson's opening remarks
9:00AM Bruce Power: Financing one of the world’s largest standalone operating nuclear plants

• The importance of the site to Ontario’s baseload generation capacity
• Merits of the underlying CANDU technology
• Historical evolution of the off-take agreement with the IESO to support financings
• Approaching the Canadian bank and bond markets with the prospect of future refurbishments

David Lever, Partner, McCarthy Tetrault LLP
Kevin Kelly, Chief Financial Officer, Bruce Power
Greg Lawrence, Managing Director, Scotiabank
Bradley Walker, Director, Corporate Banking – Power & Utilities, Global Banking and Markets, Scotia Bank
9:45AM Looking further afield: International markets for outbound power investment

*Robert Todd (HSBC) provides a global outlook for Canadian power players and energy investors, before Portia Maier (Austrade) highlights the investment opportunities in Australia and Stephen Somerville discusses H2O Power’s experiences in the US secondary market*

Moderator: Jen Aitchison, Partner, Jones Brown
Denis Crevier, Senior Vice-President, Investment Management, Capital, SNC Lavalin
Robert Todd, Managing Director, Renewables, HSBC
Stephen Somerville, Vice Presdient, Corporate Development, H2O Power
Portia Maier, Senior Trade Commissioner, Canada, & Consul-General, Austrade
10:55AM Morning refreshments and networking break
11:25AM Going green in Saskatchewan: Breaking down SaskPower’s 2030 renewables commitment

• How has Saskatchewan’s renewables procurement process developed in light of recent provincial targets?
• What kind of yield do developers and sponsors expect from renewables projects in Saskatchewan? Are projects more bankable than in Alberta?
• Has the Swift Current power plant set a precedent for further SaskPower self-build in the province? Does this option dissuade IPP entry?
• What role will the First Nations Power Authority take in procurement? What do they expect from their IPP partners?

Mike Crawley, President & CEO, Northland Power, Inc.
Jeff Norman, Vice President, Project Development, Algonquin Power & Utilities
12:10PM Quebec’s 2030 Energy Policy: Reviewing the province’s evolving low-carbon profile and a 25% renewables increase

• When and how will procurement of the 25% increase occur?
• Which technologies will be relied upon to achieve provincial targets? Will wind generation’s dominance in Quebec remain the norm?
• Assessing the increased opportunities provided by new green energy policies in neighboring areas: From green energy targets in Massachusetts to Cap & Trade in Ontario

Jean-François Samray, President and CEO, Association québécoise de la production d’énergie renouvelable
12:40PM Financing Canadian energy storage: Is non-recourse finally on the horizon?

• The risk and bankability attached to different storage methods: Which technologies are lenders in Canada most comfortable with?
• How are current utility scale projects being financed in Canada and elsewhere?
• How could project finance be tailored to suit the risk profile of energy storage development? What can be learned from outside of Canada?
• The pipeline for energy storage projects: Where is procurement taking place? How could it compliment the grid in different provinces?

Ayaz Khokhar, President & Chief Executive Officer, Source3 Energy
Adam Reeds, Vice President, Energy & Infrastructure, Dream Asset Management
Curtis VanWalleghem, Chief Executive Officer, Hydrostor
Alexander McIsaac, Manager, Business Development & Projects, NRStor
Milosz Zemanek, Partner, Torys LLP
Sankar Das Gupta, CEO, Electrovaya
1:25PM Chairperson’s closing remarks followed by lunch and close of conference