energy & carbon emissions cm capital marketserus market cers market financial emissions funds...

CREDIT MARKETING FACILITY

CM Capital MarketsC o m p a n y P r o f i l e

CM Capital MarketsEnergy & Carbon Emissions Department

Calle Ochandiano 2

28023 Madrid (Spain)

Tel: +34 91 509 62 60 / 15Fax: +34 91 509 62 14

Alberto Pérez AntuñaManaging Partner

[email protected]@cmcapitalmarkets.es


www.capi.esCM Capital Markets

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ENERGY & CARBON EMISSIONSENERGY & CARBON EMISSIONS

CM Capital Markets

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I N D E X

C M C A P I TA L M A R K E T S H O L D I N G , S . A .

CM Capital Markets Overview 2

CM Capital Markets Activities 4

CM Capital Markets in Asia 6

CM Capital Markets as Seller's Representative 7

CM Capital Markets

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CM Capital Markets Holding S.A.CM Capital Markets Group was founded in 1986, nowadays theGroup counts with the cooperation of more than 300 professionalsworking in two locations: Madrid (Spain) and São Paulo (Brazil),and focuses its activities in Spain, Europe, Brazil and North Americain brokerage, hedge funds, asset management, carbon and corporatefinance.

In 1990, 25,5 % of the share capital was sold to AMRO BANK, N.V.(actually ABN Amro Bank N.V.), wich increased its share to thepresent 45,2 % in 1992. The rest of the share capital belongs tomanagers actively involved in the company management.

CM Capital Markets Holding, S.A. as the group’s Parent Companyis responsible for the overall strategy and business conduct of thefollowing Group of Companies:

CCCM Capital Markets Overview

CM Capital Markets Bolsa S.V. S.A., founded in 1999, isthe company dedicated to asset management and equity,

energy and corporate debt brokerage.

CM Capital Markets Brokerage A.V. S.A., founded in 1986,leader in the Spanish institutional brokerage market.

CM Capital Markets Brazil C.C.T.V.M.,founded in 1998, rapidly reached first position in terms of

traded volume in the Brazilian Futures Exchange

CM Capital MarketsAsset Management Ltda.

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DIRECTORS

CapitalMarkets

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Holding45,2 % 54,8 %

CapitalMarkets

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BrokerageCapitalMarkets

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BolsaCapitalMarkets

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C.C.T.V.M.

CM Capital Markets

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Energy & Carbon Emissions DepartmentThe Energy & Carbon Emissions Department carries out advisory,consultancy activities and financial management regardingcarbon markets.

The aim of this department is to integrate environmental andfinancial worlds covering all the economy sectors. The factthat the company is based worldwide enables it to play animportant role in the following fields:

CM Capital Markets Activities

Carbon MarketsCM Capital Markets has a vast experience in the Carbon Market(EU-ETS and Kyoto Mechanisms), primarily with brokerageservices, followed by consultancy and advisory services.

CM Capital Markets occupies a leadership position in the EU´smarket in activities such as brokerage or advisory, giving serviceto a wide range of European clients. In addition, CM CapitalMarkets has contributed to supply projects of Kyoto Protocolto the Spanish Carbon Fund (FC2E), as a major supplier, andto the Portuguese Carbon Fund (Luso Carbon Fund). We arealso suppliers of projects for the government of Luxembourgand private companies at national, European and internationallevel with a special scope in Asia.

Nowadays, we are leaders in Europe in emissions trading andprovide advisory services in the acquisition and structuredproducts of CERs and ERUs mainly focused on RenewableEnergy and Carbon Funds, as well as big utilities. On the sideof market analyses we offer to our clients some services like:• Study and monitoring of the process of evolution of prices

of CO2 allowances• Monitoring of the market's curves both at organized and OTC

markets• Market access and its spot, forward and futures operations• Access to international carbon markets.

EU-ETS

CERs MarketERUs Market

Financial Emissions Funds

CERs MarketsSince it began operations in 2005, CM CapitalMarkets has worked in several projectsproving an excellent experience andknowledge regarding Clean DevelopmentMechanism (CDM) consultancy andbrokerage services. Our privileged positionin carbon markets has allowed us to gainand maintain contact with many and differentpotential CERs buyer's and sellers. That entailshaving the best and most completeinformation about CERs prices.

We also have a portfolio of CDM Projectswith already approved methodologies. CMCapital Markets works with Europeancompanies dealing with CERs coming fromIndia, China or Brazil and acts directly inSouth American countries procuring CDMprojects. We have formalized collaborationagreements with some of the main public

and private Institutions involved in thecreation, financing, consultancy and validationof the CDM projects in many countries. Fromthe point of view of the investor in projectswe define their strategy of purchase and saleof the product.

Our firm provides the following services,regarding CERs market:

• Study and monitoring of the process ofCERs prices evolution in spot and futuremarkets.

• CER pricing structure analysis at ERPA stage• Analysis of CER curves both at organized

and OTC markets.• CER pricing risk analysis.• PDD advisory.• ERPA Legal advisory service.

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CC

Mongolia

China

BhutanNepal

India

BangladeshMyanmar Laos

ThaiLandCambodia

Malaysia

Singapore Indonesia

Brunei

Vietnam

Philippines

Hong Kong Taiwan

S. Korea

N. KoreaJapon

Papua/New Guinea

Australia

NewZealand

Relevant ProjectsCM Capital Markets has a vast experience in coordination,communication and negotiation with different CDM countries,including ADB´s developing countries such as China, Thailandand Indonesia.We are currently working on the following projects:

CM Capital Markets in Asia

49.3 MW Wind Power Project

Huintengliang, China

25 MW Biomass Power Plant Project

Shanxi, China

7.5 MW Waste Heat Recovery & Power Generation Project

Shandong, China

29,7 MW Wind Power Project

Karnataka, India

61,5 MW Wind Farm Project

Yeong Yang, Korea

CM Capital Markets as Seller's Representativeunder ADB's Credit Marketing Facility

ADB's Carbon Market InitiativeThe Carbon Market Initiative (CMI) is one ofthe Asian Development Bank's initiativesunder its Clean Energy and EnvironmentProgram.

CMI has three components:

• Upfront carbon financing through theAsia Pacific Carbon Fund (APCF).

• Technical CDM support through theTechnical Support Facility (TSF).

• Marketing support for carbon creditsthrough the Credit Marketing Facility(CMF).

Credit Marketing FacilityADB's Credit Marketing Facility (CMF) providesmarketing support to project developers andsponsors in obtaining optimal prices for CERsin the global carbon market.

CMF has engaged a qualified third party asa seller's agent, selected from existingprofessional intermediaries. This seller's agentwill be compensated through a success feecharged to the transactions of CERs.

For CM Capital Markets is a great pleasureour appointment as joint exclusive Seller'sRepresentative to the Asian DevelopmentBank (ADB) under the bank's Carbon MarketInitiative.

CM Capital Markets will assist ADB-financedprojects by selling the portion of credits notpurchased by the APCF (typically around 50%of the total volume).

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CM Capital Markets as Seller's Representative

Services• Devising a customized approach suitablefor each Seller to market the excess CERsgenerated by the seller's project.

• Assisting the Sellers to determinate thebest way to obtain the maximum value forthe CERs and to minimize the risk.

• Assisting the Sellers formulate and developacceptable terms and conditions for thesale of the CERs.

• Advising the Sellers on coordinating,organizing and marketing the term sheet.

• Promoting and marketing the project toa wide range of buyers.

• Coordinating with buyers to obtain thebest bids.

• Assisting the Sellers in negotiating withBuyers, and signing the term sheet andthe ERPA.

• Supporting the Sellers for the settlement.

Methodology for thesale of CERs

Obligations as Seller'sRepresentative• CM Capital Markets shall execute a Seller'sRepresentative Agreement if the sellerwishes to retain CM Capital Markets to sellthe CERs.

• CM Capital Markets shall negotiate ingood faith with the Seller, with regard tothe terms and conditions of the Seller'sRepresentative Agreement.

CM Capital Markets Team

Seller presentation

Seller Representativedatabase

Seller Representativedatabase

Potential buyersinformed

First Selection:5 potential buyers

Termsheet will berequested

Second selection:3 potential buyers

Draft ERPA will berequested

Potential buyer will beselected

ERPA

Endof

Deal

Oneweek

Oneweek

Twoweeks

Projectinformation’sRange price

Best price

Best pricePayment

conditionsCounterparty risk

Secondopportunity if

ERPA will not besigned in the

defineddeadline

• CM Capital Markets shall sell the CERs ofthe Seller in accordance with the termsand conditions agreed.

• For every completed sale of CERs, thepayment of a success fees not exceeding1% of the contract value of the transactedcarbon credits, and no additional fees shallbe payable to CM Capital Markets.

GENERAL MANAGER

TRADING MANAGER

AdvisoryTrade relations with DMCs countries

Environmental CommodityExpert Expert on CDM transactions Legal Expert

under ADB's Credit Marketing Facility

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CREDIT MARKETING FACILITY

CM Capital MarketsC o m p a n y P r o f i l e

CM Capital MarketsEnergy & Carbon Emissions Department

Calle Ochandiano 2

28023 Madrid (Spain)

Tel: +34 91 509 62 60 / 15Fax: +34 91 509 62 14

Alberto Pérez AntuñaManaging Partner



www.capi.esCM Capital Markets

C


CM Capital Markets

C


energy & carbon emissions cm capital marketserus market cers market financial emissions funds...

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