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  • Session-8 - MNRE Solar Workshop - Dec12

    Transféré par

    Sanrasni
    8 vues10 pages
    This document summarizes solar rooftop financing capabilities. It has over 120 project finance professionals globally, with a focus on India covered from Dubai and Asia excluding India from Singapore. It has extensive experience in project financing, structured finance, and working with export credit agencies and multilaterals. Example solar energy credentials included sole mandating lead arranger roles for USD 105M and EUR 400M solar projects in the US, China, and UAE from 2008-2011. Key issues in solar rooftop financing are offtake risks, regulatory regimes around net metering and tariffs, and rights over the rooftop for long-term use.

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    MNRE Solar Workshop - 8

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    Session-8_MNRE Solar Workshop - Dec12

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    This document summarizes solar rooftop financing capabilities. It has over 120 project finance professionals globally, with a focus on India covered from Dubai and Asia excluding India from Singapore. It has extensive experience in project financing, structured finance, and working with export credit agencies and multilaterals. Example solar energy credentials included sole mandating lead arranger roles for USD 105M and EUR 400M solar projects in the US, China, and UAE from 2008-2011. Key issues in solar rooftop financing are offtake risks, regulatory regimes around net metering and tariffs, and rights over the rooftop for long-term use.

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    8 vues10 pages

    Session-8 - MNRE Solar Workshop - Dec12

    Transféré par

    Sanrasni
    This document summarizes solar rooftop financing capabilities. It has over 120 project finance professionals globally, with a focus on India covered from Dubai and Asia excluding India from Singapore. It has extensive experience in project financing, structured finance, and working with export credit agencies and multilaterals. Example solar energy credentials included sole mandating lead arranger roles for USD 105M and EUR 400M solar projects in the US, China, and UAE from 2008-2011. Key issues in solar rooftop financing are offtake risks, regulatory regimes around net metering and tariffs, and rights over the rooftop for long-term use.

    Droits d'auteur :

    Attribution Non-Commercial (BY-NC)
    Téléchargez comme PDF, TXT ou lisez en ligne sur Scribd
    Signaler comme contenu inapproprié
    sur 10

    Solar Rooftop Financing

    December 2012

    Project & Export Finance Team

    London 36 Seoul 5 Tokyo 3 Hong Kong 5

    Paris 2 New York 4 Saudi Arabia 2 Karachi Dubai 2 24 Mumbai 15

    Beijing 6

    Industry Expertise
    Power & Utilities Renewable Energy
    Johannesburg 4

    Singapore 21

    More than 120 experienced project finance professionals globally

    Transportation & Infrastructure India is a focus geography Metals & Mining Oil & Gas
    Middle East Project Finance team based out of Dubai while Asia (excl. India) primarily covered from Singapore Industry teams headquartered in London

    Project & Export Finance Capabilities


    Extensive experience combined with deep sector knowledge
    Project Finance Specialised Finance

    Project Financing Financial Advisory Reserve Based Lending Corporate-hybrids Bridge Financing Mezzanine Financing

    Structured Finance Export Credit Agencies Multilateral Agencies Insurance Companies

    Selected Solar Energy Credentials


    25 MW Solar Project
    USD 30 million

    Solar PV Project
    Confidential USD 84 million
    Financial Structuring and Arranger of Solar Projects

    USD 10 million

    Mandated Lead Arranger

    Structuring / Arranging Bank

    Sole Structuring and Lending Bank

    INDIA

    USA

    USA

    CHINA

    Ongoing

    Ongoing

    2011

    2011

    USD 105 million


    Sole Mandated Lead Arranger for Construction Financing of solar projects

    EUR 400 million


    Financial Advisor for a Thin Film PV Manufacturing Facility

    USD 196 million

    Financial Advisor / MLA for Financing of 24MW Solar PV Project

    USA

    UAE

    SOUTH KOREA

    2010

    2008

    2008

    Project Financing Approach


    Satisfactory risk mitigation framework and an ability to withstand reasonable technical, operational and financial downsides
    High leverage of c.70% Long-term debt 10 years + Limited recourse to sponsors

    x Long lead times x Extensive DD exercise

    Project Financing
    Complex and time-consuming consuming process

    2 Weeks

    4 Weeks

    4-6 Weeks

    Finalisation of Term Sheet

    Due Diligence Financial Model

    Credit Approval Documentation

    Due Diligence
    Satisfactory risk mitigation framework and an ability to withstand reasonable technical, operational and financial downsides
    Technical and Commercial Financial

    Generation estimation Design, technology and


    construction

    Financial strength of counterparties Source of equity Working capital Contingency reserves Insurance arrangements

    Documentation Operations & Maintenance Offtake and despatch

    Solar Rooftop Key Financing Issues


    Portfolio approach with sufficient diversification

    Offtake
    Connectivity to the network Credit profile of the offtaker Theft of power

    Regulatory regime
    Net metering and wheeling arrangements Feed-in-tariffs Ancillary benefits eg CER, CDM

    Solar Rooftop Key Financing Issues


    Rights over the rooftop
    Certainty of long-term tenure Sale and redevelopment risk Conflict with mortgage provider

    Solar panels
    Technology Supplier experience and financial strength Warranties

    Operations
    Security (theft, vandalism)
    9

    Thank You !

    10

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