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Agenda Overview

Day One: Thursday, January 18, 2018

8:00AM Registration and morning refreshments
8:45AM Chairperson’s opening remarks
9:00AM Industry Leaders’ Crystal Ball: How will the Canadian power financing paradigm shift in the next five years?
  • Identifying the industry defining opportunities and challenges faced by Canada’s power players
  • To what extent are institutions adapting their current business models to meet these?
  • Major disruptors: What will happen to the grid as new technologies, like storage, take hold? Will demand for power drop even more?
Moderator: Scott A Kraag, Partner, Torys
Peter Mastromarini, Managing Director & Group Head, Project Finance, Infrastructure, Power & Utilities, CIBC Capital Markets
Mike Crawley, President & CEO, Northland Power, Inc.
Matt O’Brien, President, Connor Clark & Lunn
Jason Chee-Aloy, Managing Director, Power Advisory LLC
Colin Edwards, Vice President, Business Development, Canada, Pattern Energy
9:45AM One auction down, many more to come: Where are we in the transition to a green Alberta, and what do the coming years look like for market participants?

Mike Law of AESO will provide an update on the Renewable Energy Program, including a review of Alberta’s first renewable auction

  • What do the offtake agreements for the first projects look like?
  • Examining the pricing of the first auction. Was it as AESO expected? And how does it reflect the levels of competition?
  • Will turnaround periods for winning bids be lengthened for future auctions as AESO is forced to move on from shovel-ready projects?
  • Outlining how the current model deals with curtailment risk and other implications of the market reform
Michael Law, Senior Vice-President and Chief Operating Officer, AESO
10:15AM Morning refreshments and networking break
11:00AM Curtailment Risk under Alberta’s RESA and its Credit Implications
Jaideep Nagpal, Vice President, Project Finance, DBRS
11:25AM Putting structures in place to facilitate Aboriginal project ownership across Canada

A 10 minute presentation by JP Gladu will be followed by an on-stage interview with Matt Jamieson, examining the success the Six Nations of the Grand River Development Corporation has enjoyed as a project owner in the renewables space.

Matt Jamieson, President & Ceo, Six Nations of the Grand River Development Corporation
12:00PM Analysing the current refinancing environment in Canadian power: For how long can it continue to satisfy lenders?
  • Forecasting the sustainability of the refinancing pipeline
  • With an investor base growing increasingly comfortable with renewables-associated risk, will we see a growth in the issuance of project bonds by IPPs refinancing their portfolios?
  • How can we expect to see project bonds being priced going forwards?
  • Using the bundling of assets to scale-up issuance size and reach the public rated market
  • Exploring owner preferences between bonds and loans in the current low interest environment
Moderator: Bruce Fowler, Partner, Borden Ladner Gervais LLP
David Jesty, Managing Director, Manulife Financial
John Pak, Managing Director, National Bank Financial
Andrew Kennedy, Chief Financial Officer, Capstone Infrastructure Corporation
Michael Kosiancic, Head of Acquisitions, Potentia Renewables Inc
Carmelo Restifo, Director, Project Finance, MUFG
12:45PM Lunch
2:15PM The US North East under the microscope: Identifying opportunities and overcoming barriers as Canadian IPPs look elsewhere for business
  • Can the US provide deal flow for Canadian players as procurement ebbs in their traditional strongholds?
  • Identifying differences in market structures, and forecasting project costs and financing in a world without steady Canadian PPAs
  • Assessing the willingness of Canadian lenders to finance into PJM, NYISO and ISO New England
  • Where do developments in interties, like the Lake Eerie Connector, currently sit?
  • How could stronger interties with the US breathe life into legacy projects coming off contracts in Canada?
  • Exploring Emera’s proposal to sell electricity down into the US
Jean Trudel, Chief Investment & Development Officer, Innergex
Girish Behal, PMP, Director, Strategic Initiatives and Development, Clean Power, SNC-Lavalin
Gregory Remec, Senior Director, LATAM Infrastructure Team, Fitch Ratings
Dan Dolan, President, New England Power Generators Association
Robert Ethier, Vice President Market Operations, ISO New England
John Carson, Chief Executive Officer, Alterra Power Corporation
Stephen Somerville, Vice Presdient, Corporate Development, H2O Power
3:15PM Power Finance Lenders – Interactive Audience Q&A

This free-form session allows conference delegates to put their most pressing questions to a panel of the most active lenders in Canada. Using either the Slido audience interaction tool or an old-school microphone, this is your chance to lead the discussion from the floor

Brian Kelsall, Partner, Fasken Martineau DuMoulin LLP
Siddharth Samarth, Executive Director, Project Finance, Infrastructure, Power & Utilities, Canadian Imperial Bank of Commerce
3:45PM Afternoon coffee and networking break
4:15PM Case Study: Pattern, PSP & Riverstone: Aligning interests and channelling institutional investor capital to finance one of North Americas biggest power players

Following June’s bumper deal, representatives from all three organisations discuss the structuring of the financing, how it was originated, and each party’s expectations looking forward

Esben Pedersen, Chief Investment Officer, Pattern Energy
Anthony Spadaro, Partner, Davies
Mike Larkin, Mike Larkin, Director, Infrastructure Investments, PSP Investments, PSP Investments
4:45PM Champagne Roundtables: Intimate discussions hosted by senior government, system operator and utility representatives

Roundtable hosts come to your table, you swap business cards and they speak for 5 minutes. You then have 15 minutes to ask questions, before they move onto the next table and you meet the next host – all over a glass or two of champagne

Sebastian Seyfarth, CEO, Solar Provider Group Ltd.
Jennifer Manning, General Counsel, NRStor
Matt Schwann, Director, Finance, BluEarth Renewables
Christian Wray, Co-Founder & CEO, JCM Power
5:45PM Chairperson’s closing remarks and Cocktail Reception co-sponsored by Davies and MUFG

Day Two: Friday, January 19, 2018

8:15AM Morning refreshments
8:45AM Chairperson’s opening remarks
Daniel Doubilet, Senior Associate, Torys LLP
9:00AM STORAGE MORNING: Dragons’ Den: Introducing Canada’s key energy storage technologies to the Power Finance Conference

Representatives from three of the leading storage technology providers will provide 10 minute presentations on their solutions. After each presentation, the speakers go in front of our ‘Dragons Den’ judging panel, made up of key equity providers, debt financiers, and engineers, to put their products to the test

Moderator: Milosz Zemanek, Partner, Torys LLP
Robert Todd, Managing Director, Renewables, HSBC
Curtis VanWalleghem, Chief Executive Officer, Hydrostor
Sankar Das Gupta, CEO, Electrovaya
Josh Dale, Executive Director, Rabobank
Ching-yen Chen, Partner, InstarAGF Asset Management
Eric Murray, President And Chief Executive Officer, Temporal Power
9:45AM STORAGE MORNING: Panel Discussion: Monetising the different methods of storage application: On-grid, at point of generation, and with consumer
  • Examining current financier preferences amongst energy storage applications
  • Establishing lenders’ criteria for a bankable project in the space
  • What contracted and non-contracted revenue streams can developers expect to pursue?
  • How is risk currently allocated in each model? Is there room for this to change?
  • Assessing the likelihood of application uniformity as the industry matures
Moderator: Mark C Johnson, Partner, Blake, Cassels & Graydon LLP
Darryl Yahoda, Director of Resource Development and Strategy, Independent Electricity System Operator (IESO)
Ted Leonard, Vice President & Chief Financial Officer, NRStor
Nicolas Muszynski, Senior Development Manager, RES Canada
Nicolas Muszynski, Senior Development Manager, RES Canada
Derek Lim Soo, Chief Executive Officer, Peak Power
10:30AM Morning refreshments and networking break
11:15AM Disrupting the status quo: How distributed energy developers are gaining a foothold in Canada
  • Mapping the regulatory landscape for corporate PPAs across Canada’s provinces
  • What would the establishment of distributed energy mean for the grid, the traditional IPP model, and the associated project finance market?
  • Small modular reactor update: Can developments in SMRs provide the solution to energy demand from remote communities and mines?
Moderator: Paul H Harricks, Partner, Gowling WLG (Canada) LLP
Ron Dizy, SVP, Partnerships and Managing Director, MaRS Advanced Energy Centre
David Rogers, Chief Executive Officer, AMP Solar Group Inc
Thomas Timmins, Partner, Chair - Global Renewable Energy Practice, Gowling WLG (Canada) LLP
Anouk Kendall, President, Decentralised Energy Canada (DEC)
12:00PM The evolving role of the Canadian equity sponsor in a power market characterised by increasing competition
  • Finding opportunities in the secondary market as more and more assets reach the operational phase
  • Looking past the PPA: Can value be assumed beyond the tenor of the original agreement?
  • Which alternative sectors and geographies provide the most value for Canadian investors?
  • Do Canadian pension funds, so international in scope, see space for investment in their domestic power market?
Michael Fishbein, Vice President, John Laing
Sébastien Vilder, Partner, Blakes
Brian Moncik, Senior Vice President, Asset Management & Finance, Fiera Infrastructure
Paul Huebener, Partner, DIF
Juan Caceres, Vice President and Senior Investment Director, Axium Infrastructure
12:45PM Checking in on the Albertan incumbents: Adapting to the Climate Leadership Plan
  • How does the pipeline look for coal-to-gas conversions in light of the provincial switch to green?
  • What are the costs associated with conversions, and how are they being financed?
  • An update on the outcome of compensation negotiations with the province
  • Will the incumbents’ entry into the renewable space be financed on-balance sheet or through project debt?
Moderator: Kent D Howie, Partner, Borden Ladner Gervais
Dan Balaban, President and CEO, Greengate Power Corporation
Brent Ward, Managing Director & Treasurer, Transalta
Bryan DeNeve, Senior Vice President, Finance and CFO, Capital Power Corporation
1:30PM Chairperson’s closing remarks followed by lunch and close of conference