A 3-day course for business-people and investors, providing a comprehensive introduction to the market positioning, economic planning and project deployment of the major renewable power technologies.
Learning Outcomes & Course Takeaways
- An integrated, high-level understanding of how multiple factors impact renewable power project investment outcomes.
- Checklists for analysing aspects including market positioning, project planning and risk mitigation.
- A variety of simple, quantitative models (in Excel) to illustrate and examine key principles and variables, for example cash flow, investor returns and competitive bidding.
- Specific project development and investment considerations of solar PV and wind power projects, plus comparative features of geothermal and hydro power.
- Illustrative, up-to-date case studies of projects and market/investment approaches from around the world.
- Focus on onshore and offshore project development with case studies
Who Should Attend
- Renewable Energy Project Developers and Investors across Solar, Wind, Hydro and Geothermal
- IPPs and EPCs
- Government, Academia and Research
- Banking and Finance
- Electricity Distribution and Grid Management companies
- Energy Storage Systems providers
- Industrial Energy users
- RE Project equipment, technology and systems providers
THE MARKET CONTEXT FOR RENEWABLE POWER
- The competitive matrix for electricity generation
- Truths and myths about renewable power: variability, reliability and more
- Key metrics and measures, including capacity, energy, capacity factor, capacity margin and more
- Renewable power as part of the wider electricity mix: integration vs disruption
- DISCUSSION: Energy mix analysis and planning – what are the key considerations?
UNDERSTANDING THE MARKET VALUE OF ELECTRICITY
- Essential features of a functioning electricity system.
- Defining (and critiquing) key cost metrics, including LCOE.
- The determinants of electricity price and system value, including an illustration of “merit order”.
- Comparing and contrasting pricing regimes such as FiTs, PPAs and net-metering.
- Sources of competitive advantage/disadvantage for renewable power.
- The “baseload power” debate (different viewpoints).
- Clean power policy drivers and influences.
INTRODUCING THE ECONOMICS OF POWER PROJECTS
- Essentials of a power project business case.
- Multiple sources of revenue.
- Contrasting cost structures between different power project types (and their significance).
- Identifying key business case and investment risks.
- Internal vs external risks: a financial analysis checklist
POWER PROJECT CASH-FLOW ANALYSIS
- Introducing and using a cash-flow model(Excel) to illustrate interactions between the key power project economic variables.
- Project planning, development and operational variables
- Project finance vs equity investment variables: the key importance of financing costs
- Policy & market inputs (and how they impact risks & returns)
- Base case vs scenario analysis.
- EXERCISE: Illustrating how different risks and project phase considerations feed into the financial model and lead to price outcomes in competitive auctions.
- Defining key phases and project milestones.
- Contrasting different project types, in terms of issues such as risk evolution and timescales.
- Examining key contracts: FiT/PPA, EPC,
- O&M, EIA, Grid Connection and more (including examples).
- Example project timelines and the main lessons to be drawn from them.
- Why do projects fail?
- What makes projects bankable? (Beyond the financial model)
- DISCUSSION: A project development checklist.
SOLAR (PV) PROJECTS
- Understanding the solar resource, including energy uncertainty.
- PV project construction features and requirements.
- Key technology choice issues and project development options, including module choice, tracking and more.
- Solar PV project risks.
- Trends and innovations in solar projects, including bifacial modules, floating solar farms, PV-plus-storage and more.
- Case study illustration and discussion, including the market positioning and value of solar power.
SOLAR PV ECONOMIC ANALYSIS
- Cost and energy price trends in solar PV: what has been driving costs down?
- Example solar PV financial analysis.
- Sensitivity analysis: feeding project risk considerations (and development options) into the financial model.
- The future evolution of solar power from an economic perspective.
- Summary: a PV project development & investment checklist
WIND POWER PROJECTS, ON- AND OFFSHORE
- Understanding the wind resource, including complexity and energy uncertainty (and the importance of P90 vs P50).
- Producing a bankable wind resource assessment.
- Wind project construction features and requirements.
- Key trends in wind turbine technology (and how they impact project performance).
- The growth of offshore wind, including why it is a very different project, cost structure and risk proposition to onshore wind.
- Offshore wind construction challenges, including disruptive approaches such as floating turbines.
- Case study illustrations and discussions, including the market positioning and value of wind power (both on- and off-shore).
WIND POWER ECONOMIC ANALYSIS
- Cost and energy price trends in wind power.
- Comparing and contrasting the economics of on- and off-shore wind.
- Example wind power financial analysis.
- Sensitivity analysis: feeding project risk considerations into the financial model, including curtailment.
- The future evolution of wind power from an economic perspective.
- Can offshore wind ever be cost-competitive with onshore? (A quantitative discussion of future cost reduction and performance improvement potentials)
- Summary: a wind project development & investment checklist
- Geothermal resource exploration: processes and risk profile.
- Quantitative illustration of drilling costs and their impact on project economics.
- Geothermal power plant operation and resource management.
- Understanding the unique risks and mitigation requirements of geothermal projects (including policy mechanisms).
- Case study of a geothermal power project, including timescale, competitive positioning and investment profile.
- Hydropower at a variety of scales from “micro” to “mega”.
- New innovations in an “old” technology, including exploiting new sites and using hydro for energy storage.
- Key planning and policy barriers to
- hydropower projects, including examples.
- Examining the energy mix positioning of hydropower within different markets.
- The investment proposition for hydropower.
- Closing discussion and summary: understanding renewable power project investment and growth within the context of key market trends, emerging disruptors, evolving policy environments, energy mix and grid integration challenges.
- How to make the case for renewable power projects?
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