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Opportunities to Finance Renewable Energy Projects

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Wells Fargo. Goldman, Sachs & Co. Lehman Brothers. Morgan Stanley. Hudson ... Some companies attending RE Finance Forum in 2007. Chevron Energy Solutions ... – PowerPoint PPT presentation

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Title: Opportunities to Finance Renewable Energy Projects


1
Opportunities to Finance Renewable Energy Projects
  • ELFA Industry Leadership Forum
  • April 7, 2008, Washington, DC

2
Darrell Blakeway, Co-founderPerennial Energy
Consulting, Inc.
3
Who is Perennial Energy Consulting?
  • Perennial Energy Consulting, Inc. (PEC) is a
    global management consulting firm.
  • PEC advises clients on all aspects of renewal
    energy (RE) and energy efficiency (EE).
  • We identify technologies that fit in with the
    surrounding natural and built environments and
    respect the cultural and aesthetic heritage of
    those affected by these technologies

4
Signs of a Revolution in Renewable Energy
Development
  • Washington International Renewable Energy
    Conference, March 4-6, 2008 ? 8600 attendees,
    largest RE conference in history.
  • Representatives of 119 countries, 87 government
    ministers, 246 exhibitors, 500 speakers.

5
Why the growing interest in Renewables?
6
Why the growing interest in Renewables?
  • Was the oil peak reached in 2005 or will it be
    reached in 2035?
  • It is only a question of WHEN, not IF, oil will
    no longer be affordable for
  • civilian transport.
  • Oil prices drive other
  • energy prices.

7
Why the growing interest in Renewables?
  • RE development will not be set back unless
    prices go below 40/barrel.
  • Will oil go below 40/ barrel
  • in your lifetime?

8
Why the growing interest in Carbon Emission
Controls?
9
Interest in RE is sustainable
  • Concern about global warming will continue to
    drive RE development.
  • Carbon tax or a cap trade system
  • will increase costs of oil, natural
  • gas, and especially coal.

10
How much will it cost to emit CO2?
11
Most significant energy/environment issues
facing the next President
  • The need for federal legislation on carbon
    emissions (CO2 tax
  • or cap and
  • trade regime).

12
Most significant energy/environment issues
facing the next President
  • Agreement among developed and developing
    countries on binding international
  • emission limits.

13
Bali Global Warming Success May Depend on China,
U.S. Agreement
Taiyuan, Shanxi, China, Aug. 28, 2007.
Photographer Natalie Behring Bloomberg News
14
Assessing the risks of investing in RE
  • Renewable Energy Finance Forum Wall Street,
    June 18-19, 2008
  • http//acore.org/

15
Some companies attending RE Finance Forum in 2007
  • ABN AMRO Bank, N.V.
  • Marathon Capital, LLC
  • Wells Fargo
  • Goldman, Sachs Co.
  • Lehman Brothers
  • Morgan Stanley
  • Hudson Capital Management (NY)
  • Honeywell International
  • Credit Suisse

16
Some companies attending RE Finance Forum in 2007
  • Chevron Energy Solutions
  • Moody's Investors Services
  • Macquarie Bank Ltd
  • Good Energies Inc
  • Nexcore Capital
  • New York City Investment Fund
  • DnB NOR Bank ASA
  • Merrill Lynch

17
Some companies attending RE Finance Forum in 2007
  • The Bank of New York
  • New Energy Finance Limited
  • Wachovia Securities
  • JPMorgan Chase Co
  • CIT Group Structured Finance
  • New Energy Finance
  • Cleantech Venture Network
  • John Hancock Financial Services, Inc.

18
Some companies attending RE Finance Forum in 2007
  • JPMorgan Capital Corporation
  • Greenwood Capital Partners
  • Global Finance Corporation
  • Citi Alternatives Investments
  • Global Capital Finance Americas LLC
  • Swiss Re
  • UBS Investment Bank
  • GE Energy Financial Services

19
RE-the next big technology play?
Googles REltC (Renewable Energy for less than
Coal)
20
RE-the next big technology play?
21
Opportunities for Equipment Financing
  • Solar Integrated PV Roofs
  • San Diego City Schools
  • GE Commercial Finance Energy Financial Services
  • Solar Integrated owns the
  • PV roof and has long-term
  • PPA w/Schools

22
Assessing the risks of investing in RE
  • ELFA Foundation www.leasefoundation.org

23
Opportunities for Equipment Financing
  • Power Purchase Agreements for utility scale solar
    and wind facilities
  • make the plants financeable
  • cover a substantial portion of debt service
  • pay for substantial portion of the project costs
  • provide a substantial portion of the return on
    investment.

24
Opportunities for Equipment Financing
  • Operations and maintenance for wind and solar
    facilities often minimal
  • Offsite meter monitoring, problem identification
    and trouble shooting.
  • Periodic cleaning and checks.
  • Service trackers, concentrators,
  • inverters.

25
Opportunities for Equipment Financing
  • Many of the facilities maintain residual value.
  • Long lived equipment 30-40 years.
  • Warranties to 80 performance 20-25 years.
  • Equipment/PV panel is a commodity.
  • Inverter replacement will
  • be necessary in 15-20 years.

26
Returns commensurate with the risk ? and
satisfaction from doing good.
  • Come to the RE space to do well, but also do
    good.
  • Idealistic and pragmatic motives all contribute
    to the solution.
  • Find the opportunities, understand
  • the pitfalls, and reap the
  • rewards of this revolution
  • in energy regimes.

27
Thank You
www.perenrgy.com
www.renewablepowerfund.com
www.geestrategies.com
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