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Agenda Overview

REFF Europe Day 1: Wednesday, May 16, 2018

8:15AM Registration and refreshments
9:00AM MACRO OUTLOOK
  • Setting the scene: Evaluating supply and demand dynamics and pricing for renewable energy in Europe. Developments in the conventional energy industry and the impact on renewables markets
  • Evolving market design: How players are adapting to increasing shares of renewables in their portfolios? What are the governmental policies enabling the industry to grow?
 
9:30AM STRATEGIC TRANSFORMATION
  • Oil and gas majors moving into power generation, renewables and electricity markets in Europe. What are the strategies going forward and how will that impact the investment universe and supply chain in the short and long term?
  • Too many chasing too few? What will be the stage of play in the medium term with decreasing prices and costs for renewables? Competition for assets
  • Emission free Europe 2050: Investors’ and developers’ perspectives and strategies
  • Utility’s perspective: Integrating renewables into electricity system
  • Procuring directly from developers: An opportunity or a threat?
 
10:30AM 10:30 Coffee and networking break
11:15AM Session 2. REGULATION: An hour with the Governments

 

 What is required to attract investors and financiers and to help industry flourish? (brief presentations)

 

  • Regulatory changes and updates on tariffs or other market mechanisms
  • Winter package is coming. What are the latest updates?
  • Governmental strategies on supporting renewable energy and reaching 2030 and 2050 targets: The UK, Ireland, Scotland, France, Germany, Spain, Italy and the Nordics
  • Presentation: How the transmission infrastructure should be upgraded and developed to take advantage of improvements in renewable technology?
  • Presentation: Planning permissions

 

 

12:00PM QUESTION TIME: 2030 and 2050 targets: reality or a myth?
  • Lesser concessions or no public backing up. What are the investors’ and lenders’ strategies?
  • Zero bid auctions: Will the investors and lenders still be there?
  • Super-grids: Not so “super” so far? Planned regulations
  • Development of green bonds market
  • Demand Side Response (DSR), distributed generation and energy storage: What regulations are being developed to support these?
  • What is happening with VAT and carbon pricing?
  • Regulations on storage: Charging, feeding the grids and generation license
 
 
12:45PM Networking Lunch
2:00PM Session 3. EUROPE’S NEW HOPE. Energy Storage

Are we witnessing a birth of the new market? Is this a business with many fathers? Will it generate a stream of business opportunities? And how these opportunities will be financed?

 

Case Studies: Leading the way

 

  • Clayhill solar and battery storage plant
  • Batwind battery project in Hywind Scotland wind farm

                  Panel Debate:

 

  • Solar and wind storage: Gauging the interest and developments. What are the business models and risk profiles?
  • Energy storage technologies: Current methods and associated risks, capacities and bankability
  • Commercial viability, profit potential and investor appetite: Who might the likely investors be?
  • What business models and financing structures are taking shape?
  • What kind of debt these projects are attracting?
  • Identifying risk factors when evaluating financing potential of a storage project
  • How electric vehicles (EV) interact with the grid and how that can transform storage?
 
3:30PM Coffee and networking break
4:00PM Session 4. THE RISE OF NEW TECHNOLOGY - capturing the “i-phone” moment

As opposed to commodity markets, 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.  Hear from leading technology investors and providers on how they assess these fundamental transformations!

 

Presentation: Technologies in offshore wind, including FOW. Statoil’s case study: Hywind Demo
Presentation: Larger – Better?
Ultra-modern wind turbines. Benefits, regulations and ROI
Presentation: Sweet but short? Top 10 things to watch out for to make maturing assets work for you longer and to boost profits

 

Panel Debate:

  • Backing cutting-edge renewable technology: Questioning capex, opex, ROI and best financing strategies
  • Which new developments in renewable technology would you vote for?
  • Fuel cells, advanced batteries, hybrid systems: Bankability and ROI
  • Economics of costs: How expensive is the development and implementation of new technology, do the benefits outweigh the cost for investors and what are the ROIs?
  • Are lenders put off by potential risks posed from implementing new renewable technology in an otherwise low risk project?
  • Integrating new technology with existing assets
  • Innovative asset management – Developer’s perspectives
 
 
5:45PM Evening Cocktail Reception

REFF Europe Day 2: Thursday, May 17, 2018

8:15AM Registration and refreshments
9:00AM Session 1. CEO STRATEGY DEBATE: beyond 2030 – Voting

Live polling: What will the world of tomorrow look like by 2030?

Voting options: (a) likely to happen, (b) not likely to happen

Scenario A: Fossil fuels are the thing of the past, problem of intermittency completely resolved, energy storage integrated at every facility and every house, selling electricity abroad is everywhere, Tesla is only one of thousands on the innovation front, storage treated as part of a generation license, sector coupling is smooth and ubiquitous

Scenario B: Fossil fuels are still supported by public finance, intermittency is only partially solved, selling electricity abroad is still futuristic, storage, although more frequent, is not a part of a generation license

Steps: By 2030

  • The tariffs will stay
  • Flexible demand side mechanisms will be fully developed and implemented
  • All legal and commercial aspects of storage will be fully developed and implemented
  • Residential wind and solar will reach 60% threshold in Europe
  • The number of projects will outgrow the available capital
 
9:20AM CEO STRATEGY DEBATE: beyond 2030 and what do we do in the meantime?

Leaders’ debate for leading infrastructure funds, pension funds, debt providers, lenders, and developers.  We are embarking on a new era where fewer and fewer tariffs are offered and renewables compete on price, where storage is co-located, market is re-designed and everyone is affected. Where will we be seeing new bankable projects?  What are the best ways of raising or deploying capital in the industry?  
Hear from the leading minds in the industry on how their strategies will shape renewable energy future!

 

Institutional and financial investors:

  • What are the investment and asset management strategies in a low price environment?
  • What is the new normal? How sustainable is the current level of institutional investor appetite for renewables?
  • How are institutional investors diversifying their portfolios across the life cycle of assets, and taking on different types of risk?
  • How can investors approach the market differently? Small scale solar investments
  • Looking at distressed assets
  • The role of fixed income in financing deals
  • Opportunities in investing into transmission networks
  • Opportunities in sector coupling to utilise electric vehicles and storage systems, links between mobility and power sector
  • Across borders: How can the developer in Sweden be interlinked with offtaker in Germany? And what investments and upgrades are needed?
  • Off-grid opportunities and smart grid evolution

 

Developers:

  • What criteria are developers using to select sources of financing?
  • How are developers’ financing strategies evolving>

Debt providers:

  • How will the debt market behave in light of rising corporate PPAs and projects with no public support?
  • In an environment of less certain fixed prices, how the cash flows are re-assessed and how does that impact debt size?
  • Examining the use of:
  • Mezzanine debt
  • Bank loans followed by refinancing via capital market
  • Private placements via institutional investors
  • Financing through development banks
  • Bonds and other structures
 
10:00AM NEW MARKET OPPORTUNITIES: No public support and corporate PPAs

Presentations: Deal or no deal? Subsidy free world.
From an equity sponsor: Case study. Strategy and assessment

From a Corporate Offtaker: Case Study - Denmark. The Dutch wind consortium

From a Developer: Case Study – UK. PPA on greenfield onshore wind project

Panel Debate:

  • What are the implications of the transition from a subsidy-dependent regime towards a business model with heavy exposure to merchant risk for the whole supply chain?
  • Price reduction and contractor alignment. What is going to happen?  Multi buyer contracts
  • Corporate PPAs: myth or reality?
  • Financing to corporate PPA offtakers: What are the winning financial schemes and contracts to go forward?
  • Investor’s point of view on merchant risks, shorter debt tenors, and deals
  • Lenders’ risk profiling and credit analysis
 
11:00AM Coffee and networking break
11:30AM Session 2. EUROPE’s NEW HOPE: Offshore Wind
  • Case Study. Leading the way: Walney Extension Offshore Wind Farm:
  • For how long will the success last? Supply and demand and growth forecasts
  • Offshore wind investors: Profile, perspectives, strategies
  • The role of project sponsors in developing new finance structures and taking on different types of risk
  • Lender perspectives on a successful deal structure
  • Analysis of the latest offshore deals: Equity returns and debt pricing
 
1:00PM Networking Lunch
2:00PM Session 3. NOT BY SOLAR AND WIND ALONE
  • Updates on deals and projects in biofuels, biomass, geothermal, district heating, solid waste. How are the financing structures evolving?
  • Swansea Bay Project: Updates on developments in tidal energy
  • Special Focus presentation: Hydro energy – success story
 
3:00PM OXFORD STYLE DEBATE

Two expert speakers will take to the stage to argue for and against the following motion:

Recent auction prices for renewables are untenable“ or “Renewable energy penetration will never get beyond 50% because we will always need baseload”

For the motion: Commercial Bank           

Against the motion: Renewable Energy Developer

The debate will be preceded by a vote to determine the audience’s opinions on this current and divisive motion. Two speakers (one for the motion, and on against) will then have the opportunity to argue their case and contest their opponent’s claims. After the audience has had a chance to ask its questions, both speakers will provide their closing remarks before a second vote when the winner of the debate will be announced.

 
3:45PM Session 4. The networking hub

Champagne Round Tables:

Organise meetings ahead of time or take the chance to dive into an impromptu consultation to further your business interests in the meeting zone. A series of senior hosts will head up their own individual roundtable discussions on a verity of topics for you to dip in and out of as you see fit. This is a real opportunity to network and have quality face-time with some of the most important industry leaders in renewable energy in Europe.

 

 
5:00PM Chairman’s closing remarks and End of Conference