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Agenda Overview

The European Renewable Energy Investors Council: Tuesday, May 15, 2018

8:15AM Registration and refreshments
9:00AM Session 1. Third Energy Transition - Europe 2050 and beyond. What moves the market forward and what disrupts it?

Voting: Place your bets on what will be the most important new energy debates in 2020! Pick your top 6.

After live voting these issues will be discussed at each table and moderators will present their top three and these can develop or disrupt the industry by 2050.

  • A game changer? Putting climate risk and environmental and social indicators on a par with traditional financial metrics and risk calculations
  • Fossil fuel divestment movement versus recovering investment into oil and gas assets
  • Governance of the EU-UK energy relationship post Brexit
  • Who is going to procure and who is going to own?
    • What are the unintended consequences resulting from corporate buyers directing where they want additional generation? How will that impact the strategies of traditional system planners and wholesale prices?
  • Blockchain technology: The next thing before it is even a thing?
  • Electric Cars: Fleet structure, risk profiles, infrastructure models and finance structures
  • Distributed Solar, Floating Solar
  • Smart grid infrastructure
  • Cyber-security and impact on financial issues
  • Will increased battery usage remove the need for continued interconnectivity?
  • Are renewables heading towards becoming “large scale” or “global infrastructure”? What would the cost of capital be if we become “large infra”?

09:05 Voting (10 min)

09:15 Panel debate (20 min)

09:35 Discussion at the tables (20 min)

09:55 Results presentation and Q&A (20 min)

Kees-Jan Van De Kamp, Senior Portfolio Manager, NN Investment Partners
Francesco Gazzoletti, Managing Partner, FortyEight Brussels
Ian Berry, Head of Infrastructure Equity, Aviva Investors
Alistair Perkins, Head of Infrastructure & Project Finance, NN Investment Partners B.V.
Jonathan Maxwell, CEO, Investment Committee, SDCL
10:15AM Session 2. Zero hour for Europe: Regulators and Governments

Three policy keynotes from senior executives from Governments will be followed by discussions at the tables and questions to the presenters.

  • UK/ Scotland/Ireland: Is there more clarity on what is going to happen to the UK energy market after Brexit?
  • France: The (offshore) winds of change. Renewables incentive mechanisms
  • Germany: The Bundesnetzagentur. Latest regulations

10:45 Debate at the tables:

  • Is winter (package) coming to Europe and what does it bring?
  • How low can tariff prices be for different technologies in 12 months?
  • Which technologies made it and which didn’t? What will be planned and backed up?
  • What will provide the right pricing signals?
  • To what extend do financial market considerations play a role in current discussions?
  • What does a resilient and renewable grid mean?
  • What will the renewable landscape look like with very low tariffs or when they become obsolete altogether?

10:15 Presentations (30 minutes)

10:45 Discussions at the tables (20 minutes)

11:05 Q&A (20 minutes)

David Kerins, Senior Economist, European Investment Bank
Akshay Kaul, Partner, Ofgem
Alasdair Grainger, Head of Commercial and Investor Relations, Department for Business, Energy & Industrial Strategy
11:25AM Networking coffee break
11:55AM Session 3: Utilities and Corporate offtakers

A panel for Corporate offtakers, equity investors, debt providers and utilities

Presentation: 3 top PPA Models: Private wire PPA, Sleeved PPA and Synthetic PPA.

Nithin Rajavelu, Partner, Everoze Partners

  • What is driving large corporates to purchase long-term power?
  • How much of a procurement is going to occur on behalf of the corporates and what are the implications? What will the effect on wholesale pricing be?
  • Who is going to procure and who is going to own?
  • What do non-utility equity groups offer traditional equity partners?
  • What are the risks now for offshore wind equity?
  • Do utilities still have the balance sheet capacity for new renewables projects?
  • What have we learned from first financed corporate PPAs’ cost of capital?
  • What can be the winning financing structures?
  • Investors’ views on merchant risks, shorter debt tenors and deals
  • Lenders’ risk profiling and credit analysis

11:55 Presentation (10 min)

12:05 Panel Debate (30 min)

12:35 Discussions at the round tables (20 min)

12:55 Q&A (10 min)

John Deacon, Partner, Orrick
Glenn Harris, Head of UK Origination, Centrica Energy marketing & Trading
Nick Koidl, Managing Director, Absolute Investment Partners
Colin McClements, Commercial Manager, RES Group
Nithin Rajavelu, Partner, Everoze Partners Limited
1:05PM Lunch
2:15PM Session 4. Investments and debt pricing

Fireside chat with a leading developer (15 min): Paul Corrigan, Head of Mainstream Renewable Capital, Mainstream Renewables

  • What sources of capital are you targeting, and why?
  • Are you happy with the deal terms you are getting?
  • Support from financing or tariffs?

14:30 Panel debate on the stage (35 min)

15:05 Discussions at the round tables (20 min)

  • Issues from the fireside chats
  • What debt pricing various asset types should be, are and will be achieving?

15:25 Results presentation and Q&A (10 minutes)

Kunal Patel, Head Of Structured Solutions, Ørsted
Edwin Hamilton, Anesco
Keith Mangan, Director, BlackRock
David Nelson, Executive Director, Energy Finance, Climate Policy Initiative
Paul Corrigan, Head of Mainstream Renewable Capital, Mainstream Renewable Power
Eilidh MacTaggart, Managing Director | Head Of European Infrastructure And Project Finance, Metlife Private Capital Investors
3:35PM Deals Auction

A pipeline deal will be auctioned at the end of the day. Each table will present their bid submission and financing package for the deal. The audience will vote on the auction’s winner based on the viability on the submissions presented.

 

4:00PM Coffee and networking break
4:30PM Session 6. The “i-phone” moment

Unlike conventional power generation, renewable energy follows a different concept – it is a technology play, rather than “commodity play”. With improving technology, costs decline dramatically and new business opportunities grow quickly: demand side management, storage, voltage control, new IPPs coming to the market, corporate offtakers. Can these advances make emerging technologies bankable? How are other more traditional forms of renewable energy adapting to the changes?

 

  • Energy/Battery Storage – colocation with renewables
  • Decentralised Energy: What does it entail for the supply chain? Gird congestion and investment deferral revenue
  • Blockchain technology: Is that a disruptor or enabler?
  • Big Data for operational renewables
  • Electric vehicles
  • IoT, Smart grid infrastructure
  • Cyber-security and impact on financial issues
Peter Bachmann, Director, ECF, Scottish Equity Partners
Mike O'Neill, President and Chief Operating Officer, Element Power
Dan Taylor, Managing Director, Camborne Energy Storage
Graeme Ludlow, Managing Director, Energy Matrix
Alastair Marke FRSA FRGS MCMI, Head Of Blockchain Innovations (Climate Change), Abt Britain Limited
Bruce Huber, CEO, Alexa Capital
5:20PM Chairmen closing remarks
5:30PM Drinks Reception