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Agenda - Energy Finance Forum

Day One: Tuesday September 19th

8.15am Registration & morning refreshments

9.00am Chairperson’s opening remarks

9.15am The Federal energy plan: Outlining the President’s strategy, and the knock-on effect on traditional power and renewables in the US

  • What does Federal rejection of the Paris Agreement mean for renewables in the US?
  • The start of a new era: How does Trump plan to revive the coal industry?
  • Clarifying the administration’s position regarding commitment to the Paris Agreement
  • Understanding non-federal forces in US energy and their impact on the state of play    

Barry Worthington, Executive Director, United States Energy Association

9.45am How is Trump’s tax reform set to alter the financing of renewable energy?

  • What is the current state of play with tax credits? Will the new administration move to limit them?
  • How will decreasing corporate tax rates impact upon the relative value of renewable energy tax credits?
  • As the associated costs of renewable energy shrink, is the industry ready for unsubsidised projects?

Daniel Elkort, Executive VP & General Counsel, Pattern Energy
Greg Remec
, Head of US Energy Project Finance, Fitch Ratings
Charles Hernick
, Director of Policy and Advocacy, Citizens for Responsible Energy Solutions Forum
Jigar Shah
, Co-Founder, Generate Capital Inc. moderator

10.30am Morning refreshments and breaks (sponsored by Mayer Brown)

11.15am Capitalizing on opportunities provided by the growth of the corporate procurement sector

  • How do lenders view corporate PPAs in relation to those issued by utilities? How differently is debt priced against the two?
  • What assurances do lenders need from a corporate offtaker to finance a project?
  • Analysing the impact of increasing corporate procurement on the wider energy market
  • Dealing with curtailment: How is it defined in corporate PPAs and to what extent is the offtaker responsible?

Jacob Susman, Vice President, Head of Origination, EDF RE
Melissa Peterson
, Director, Business Development, Apex Clean Energy
Kenneth Davies, Director of Renewable Energy, Microsoft Energy Strategy & Research
Dan Seif
, Managing Director, Grid Economics, LLC
Edward Zaelke
, Partner, Akin Gump – moderator

12.00pm How are specialised funds and institutional investors financing North American energy?

  • Which different sectors of the capital stack are funds filling in the energy space?
  • Where are investors putting their money? Is this changing?
  • Distinguishing between the investment mandates of big institutional investors and specialised infrastructure funds
  • At what point are LPs deciding to invest directly rather than go through an intermediary fund?

Martin Laguerre, ‎Head of Renewables, CPPIB
Jorge Camina
, Director, Infrastructure Debt, Allianz Global Investors
Andrew Ellenbogen
, Senior Vice President, EIG Global Energy Partners
Mike Roth
, Principal, Ares Management
Michael Dorenfeld
, Managing Director, HPS Investment Partners
Ethan Schultz
, Partner, Skadden, Arps, Slate, Meagher & Flom moderator

12.45pm Lunch and networking break

2.15pm Environmental, social and governmental considerations, and their impact on the financing of energy projects

  • Can lenders and investors with SRI mandates justify involvement in traditional power assets?
  • To what extent are traditional generators encountering difficulty in financing? What options are open to them?
  • Where are investors with specifically green mandates investing? Where do they see value?
  • Are green funds noticing more investor interest as CSR polices become more widespread?
  • Dakota Access Pipeline: Analysing the impact of community objection on financiers. Who’s in? Who’s out?

Ken Locklin, Director, Impax Asset Management
Nicholas Addivinola
, Director of Business Development, Nautilus Solar
Senior Representative, CalPERS

2.45pm Renewables on demand: Deploying and financing energy storag

  • How does the financing of storage projects differ between storage deployed… A. at point of generation; B. on the grid, and; C. with consumer?
  • Where does the revenue come from in each case?
  • Which of the three deployment methods are lenders and investors most comfortable with?
  • Non-recourse finance has finally arrived in the space – is there a growing appetite for the sector amongst banks?
  • How does renewables-related intermittency tax the grid?

Patrick Verdonck, Principal, Starwood Energy Group
Chris Gerlach
, Chief Financial Officer, Eos Energy Storage
Vishvesh Jhaveri
, Manager, Project Finance, Advanced Microgrid Solutions
Adrienne Lalle
, Project Manager, Consolidated Edison Company of New York
Patrick Verdonck
, Principal, Starwood Energy Group – moderator

3.30pm Afternoon refreshments and networking break (sponsored by Mayer Brown)


Both energy and infrastructure audiences will come together to finish the first day with sessions encompassing both markets

4.05pm Cross-sector discussion on project-finance lending: Finding value in a market characterised by political change

  • Where are banks focusing their attention following Trump’s election to the White House? Where are the best returns?
  • Scrutinising the terms and tenors on offer to borrowers in different sectors
  • How are banks reacting to increased market liquidity provided by foreign entrants?
  • Where are we seeing innovation in project finance? Where is innovation needed?

Nuno Dias Andrade, Managing Director, Head of Project & Acquisition Finance, North America, Santander
Nicholas Gole
, Head of Energy and Infrastructure Financing, Macquarie Capital
Duncan Caird
, ‎Head Infrastructure & Real Estate Group, Americas, HSBC
William Kloehn
, Chief Executive Officer, JCRA Financial moderator

4.50pm Champagne Roundtables
Led by moderators from government and procurement bodies across North American energy and infrastructure, the roundtables create an intimate, informal environment for delegates to engage with key industry decision makers

Moderators will spend 15 minutes at each table before moving onto the next

Morteza Farajian, Director, Office of Public-Private Partnerships, VDOT
Gregory M. Matzat, P.E.
, Senior Advisor, Large Scale Renewables, NYSERDA
Judah Gluckman, Deputy Director and Counsel, District of Columbia Office of Public-Private Partnerships (DC OP3)
Michael Bonini, Director, Public-Private Transportation Partnerships Office, Pennsylvania Department of Transportation
Hugh Chen, Deputy Director, Finance, Incentives, and Program Analysis – Office Of Energy Policy and Systems Analysis, Department of Energy


5.50pm Chairperson’s closing remarks followed by cocktail reception (sponsored by S&P Global Ratings)


Day Two: Wednesday September 20th

8.45am Morning refreshments

9.15am Chairperson’s opening remarks

9.25am Foreign capital: Exploring the factors driving overseas banks and investors into the US and Canadian energy markets

  • How deep are foreign investor coffers? What is the limit to their exposure to the space?
  • Do traditional liquidity providers see the influx of foreign capital as a threat or a welcome relief?
  • Partnering in deals, brokering, advising: How established players are familiarising newcomers with the US market

Michael Fabisiak, Head of Structured Finance, Americas, ICBC
Ralph Cho
, Co-Head of Power & Infrastructure, Investec USA Holdings Corp.
Vinod Mukani
, Managing Director, Nomura
George Miller
, Partner, Mayer Brown - moderator

9.55am How much capital is required to fund midstream infrastructure needs across North America?

  • What methods of finance are likely to be used to fund these projects?
  • How has the oil price crash affected the midstream industry?
  • Examining structured finance in the midstream space now that MLPs can’t issue at the same prices they once could
  • Private equity plays in midstream: Who’s making them and what are their expected returns?
  • Commercial bank attitudes towards lending to the midstream space

Oliver Tuckerman, Vice President, Commercial Structuring & Corporate Development, Cheniere Energy
Adi Blum
, Managing Director, First Reserve
Kerri L. Fox
, Chief Financial Advisor, Steelhead LNG
Michael Llanos
, Associate Director, North America Infrastructure, S&P Global Ratings - moderator

10.40am Resurrecting the YieldCo: Can it be done?

  • Are the struggles faced in the YieldCo market a temporary or permanent problem?
  • Given the safety of the renewable energy assets, should YieldCo investors be getting comfortable with lower yields?
  • Exploring the rationale behind the firms swooping in to invest in distressed YieldCo portfolios
  • Can new investors bring stability to YieldCos currently suffering the consequences of bankruptcy and project-level defaults?

Chad Plotkin, Chief Financial Officer, NRG Yield

11.10am Morning refreshments and networking break

11.40am PJM: Evolving financier attitudes to the market and an update on recent auctions

  • How is financing in the PJM market evolving? To what extent has the influx of foreign investment changed things?
  • With a never-ending supply of deals to finance, where will banks cap their exposure to PJM?
  • A review of May’s Base Residual Auction: Outcomes and lessons learnt
  • Gauging participant sentiment towards the auctions and the switch to a 100% capacity market
  • Analysing the difficulties faced by coal generators as more gas-fired facilities come online

Steven Ryder, Senior Vice President, Chief Financial Officer, Invenergy LLC
Aneesh Prabhu
, Senior Director, U.S. Energy Infrastructure, S&P Global Ratings
Christopher Yonan
, Managing Director, Morgan Stanley
Ravina Advani
, Managing Director, BNP Paribas
Michael Reese
, Partner, Pillsbury Winthrop Shaw Pittman LLP moderator

12.20pm What are the prospects for, and obstacles to, a robust offshore wind market in North America?

  • Which authorities are looking at the development of offshore wind?
  • Comparing the appetite for offshore wind in the US vs. Canada: Where are the opportunities?
  • Lessons from development of the offshore wind sector internationally
  • How are new technologies in the sector being evaluated for financing?
  • What appetite do lenders have for the risk associated with non-conventional markets?

Knut Aanstad, Head of Offshore Wind Project Origination, Statoil
João Metelo, Chief Executive Officer, Principle Power
Gregory M. Matzat, P.E., Senior Advisor, Large Scale Renewables, NYSERDA
Senior Representative, Santander
Biao Gong, Vice President, Project Finance, DBRS moderator

1.00pm Chairperson’s closing remarks followed by lunch and close of conference