greenmax corporate profile october 2014greenmaxcap.com/download/gmx_cp6.pdfclifford j. aron, founder...
TRANSCRIPT
CORPORATE PRESENTATION
October 2014
Lead Transaction Advisor: Winner:
Projects executed successfully across four continents
WIND SOLARGEOTHERMAL SMALL
HYDROCHP and
Gas BIOMASS/
WTE
Europe USA Africa Latin America
Sectors CLEAN ENERGY FOCUS WITH EXTENSIVE PROJECT EXPERIENCECLEAN ENERGY FOCUS WITH EXTENSIVE PROJECT EXPERIENCE
Expertise across a range of Clean Energy Technologies
1
GLOBAL TEAMGLOBAL TEAM
Represented in 16 countries-EUROPE,AMERICAS,AFRICA. Experience in 55 countries globally since 1994
New York, USA
SANTIAGO, Chile
WARSAW, Poland
BOGOTA, Colombia
LAGOS, Nigeria
ADDIS ABABA Ethiopia
NAIROBI, Kenya
KIGALI, Rwanda
DAR ES SALAAM, Tanzania
ACCRA, Ghana
ISTANBUL, TurkeyZAGREB, Croatia PRISTINA, KosovoMILAN, Italy
2
SOLAR: USA, BULGARIA, ROMANIA, CZECH REP, ITALY, UGANDA, KENYA, GHANA,
NIGERIA,SENEGAL, BENIN, CHILE
WIND: POLAND, ESTONIA, TURKEY, KENYA, PANAMA, DOMINICAN REPUBLIC, DOMINICA
CHP: POLAND, UKRAINE, MOLDOVA, SPAIN, COLOMBIA, USA
BIO/WTE: UKRAINE, POLAND, CZECH REP, SLOVAKIA, NIGERIA, COLOMBIA, KENYA, NIGERIA
HYDRO: CZECH REP, SLOVAKIA, RWANDA, KENYA,TANZANIA
GEOTHERMAL: RWANDA, KENYA, TANZANIA, ETHIOPIA, UGANDA, TURKEY, CHILE, PERU, DOMINICA,
ST. KITTS & NEVIS
RENEWABLES: Raised USD 2 B+ in international debt from MDIs, Commercial
Lenders and Export Credit agencies.
ENERGY EFFICIENCY: Launched Financing Facilities leveraging more than USD 1 B in
EE investments in 15 countries
MissionTO BE THE PREMIER BOUTIQUE GREEN ENERGY FINANCE ADVISORY
SERVING EMERGING MARKETS
PERFORMANCE TRACK RECORD IN FINANCE PERFORMANCE TRACK RECORD IN FINANCE
Corporate Finance:
M&A experience
Project Finance
experience
3
Financial
Advisory
Corporate and
Project Finance Strategic Advisory
Project Development
Services
OUR SERVICE OFFERINGS OUR SERVICE OFFERINGS
4
Project Equity-Working relationships with investment funds and strategic investors targeting RE and EE projects around the globe.
Project Debt-Strong relationships with multilateral developmentbanks, commercial lenders, export credit agencies
Extensive network of contacts with investment funds, strategic investors, project developers, technology companies and energy services providers
Project Finance
Corporate- M&A
CORPORATE AND PROJECT FINANCE CORPORATE AND PROJECT FINANCE
5
Entry to CEE Solar Market
Acquisition of Greek solar parks
Sale of Italy solar parks
Acquire Italy solar parks
Acquire Romania solar parks
Acquire Romania solar parks
Acquisition of USA solar parks
Acquire Italy solar parks
Acquisition of Bulgaria solar parks
Acquire Italy solar parks
Acquisition of Italy solar parks
Acquire Bulgaria solar parks
Acquire Bulgaria solar parks
Acquisition of Bulgaria solar parks
Acquisition of Italy solar parks
Acquire Bulgaria solar parks
Acquire Italy solar parks Acquire USA
solar parks
SOLAR ENERGY PARTNERS Limited
Solar Infrastructure Investment Specialists
CORPORATE FINANCE-M&A
European &
American
Projects
6
Identify Wind projects in CZ + SK
CEE Wind energy investments
Acquisition of Hungary wind project
Renewable energy sector investments
Entry to Polish wind market
Acquire Polish wind projects
CEE landfill gas projects carbon trades
Acquisition of Polish CHP
Acquire Bulgaria Wind Projects
Acquisition of Polish CHP
Acquire Turkish wind projects
Acquire Polish wind projects
Entry to Baltic region wind market
Polish BioPelletPlant
Sale of Romanian wind project
Grant Funding for RDF Pellet FacilitySumy, Ukraine
Electricom
Sale of Romanian wind farms
Acquire Bosnian Small Hydro
CORPORATE FINANCE-M&A CORPORATE FINANCE-M&A
European
Projects
7
PROJECT FINANCE-DEBT & EQUITY PROJECT FINANCE-DEBT & EQUITY
6 MW SVEP wind farmin CZ
FITMIN Company Biomass Boilers in CZ
2 MW LibocanyWeir, CZ Small Hydro
Snina, SK District Heating
BOT Poland Power Company
DevinskaNova Ves, SKDistrict Heating
Forfaiting ofESCO receivables in CZ
BOSS Company wood gasification boilers in CZ
Trade Credit Financing for90 MW SOMA wind farm
SVIT-M Ltd
USTDA Project Development Grant for RDF pellet facility Sumy, Ukraine
European
Projects
8
Financial structuring of energy sector transactions
Financing facilities design
Design and launch of EE and RE financial products:
• Credit enhancement and loan guarantee programs
• Vendor financing programs and multi-project
framework facilities
• Mezzanine, subordination and quasi equity
instruments
FINANCIAL ADVISORY FINANCIAL ADVISORY
Cross-Border, International finance support
9
Government of Ukraine
$500M U.S. EXIM
financing + export
management of medical
equipment
Current
Double W Group
$12 Million U.S. EXIM
financing of equipment
for the Radisson Hotel
Kiev, Ukraine
Current
PA Yuzhmash
$80 Million U.S.EXIM
financing for a wind
tower production facility
2008
UkrGasProduction
$150 million US EXIM
Financing for pipeline
equipment
2006
UkrKosmos
$125 million US EXIM
export financing of
telecom equipment
2009
Sea Launch
$107 million US EXIM
Financing for satellite
equipment
2004
FINANCIAL ADVISORY: CROSS-BORDER, INTERNATIONAL FINANCE SUPPORT
FINANCIAL ADVISORY: CROSS-BORDER, INTERNATIONAL FINANCE SUPPORT
US EXIMBANKFINANCINGPartnership
with Broad Street Capital Group
10
Train Hungary Credit Dept for RES
Launched EE Guarantee Fund
Design RES credit line for SMEs in CZ
Launched Estonia Block House EE Financing Facility
Launched Hungary Block House EE Financing Facility
Launched Montenegro EE Credit Line at Opportunity Bank
Credit Facility for Municipal Building EE
Launched Block House EE credit lines
FINANCIAL ADVISORY: FINANCING FACILITY DESIGN, FINANCIAL PRODUCTLAUNCHES
FINANCIAL ADVISORY: FINANCING FACILITY DESIGN, FINANCIAL PRODUCTLAUNCHES
European
Projects
11
Low Income Multifamily EE Financing Mechanisms Poland
Design for Building EE Financing Mechanisms in Kosovo
Design for Municipal EE Financing Mechanisms in Ukraine
Best Practices for Multifamily EE Finance in Eastern Europe Countries
Design for EE Loan Facility with Partner MFI in Bosnia + Herzegovina
Advisor for launch of Multifamily EE Loan Fund, Northeast USA
Design for Multifamily EE Financing Mechanisms in Armenia
Lessons learned from EE Finance programs in Europe
FINANCIAL ADVISORY: FINANCING FACILITY DESIGN
European
Projects
USA
Projects
12
Design of the GeoFund Investment Window for Eastern Europe and Caucasus
Block House EE Finance Facilities in Romania, Hungary, Ukraine
Market Study Business Plan and Design of the SEE Green for Growth Fund
Design + TA for Poland EE Loan Guarantee Fund
Design of a pilot project Hospital EE Financing Facility in Poland
Quasi Equity Facility for SME Renewable Energy in Eastern Europe
Design + TA for Central European EE Loan Guarantee Fund
ESCO financing analysis for Warsaw Technical University
FINANCIAL ADVISORY: FINANCING FACILITY DESIGN AND FINANCIAL PRODUCTS LAUNCH
European
Projects
Blockhouse EE Financing Mechanisms for Russia
Municipal ESCO projects pipeline for Croatia
13
Entry to New Country Markets
Review of Regulatory Frameworks
Risk Assessments
Selection of Optimal RES Sub-Sectors
Identification of Acquisition Targets
STRATEGIC ADVISORY STRATEGIC ADVISORY
14
EXAMPLE- STRATEGIC ADVISORY AND M&AEXAMPLE- STRATEGIC ADVISORY AND M&A
European
Projects
15
EXAMPLE- STRATEGIC ADVISORY AND M&AEXAMPLE- STRATEGIC ADVISORY AND M&A
European
Projects
16
EXAMPLE- STRATEGIC ADVISORY AND M&AEXAMPLE- STRATEGIC ADVISORY AND M&A
European
Projects
17
PROJECT DEVELOPMENT SERVICE PROJECT DEVELOPMENT SERVICE
18
EXTENSIVE EXPERIENCE IN LATIN AMERICA AND AFRICA EXTENSIVE EXPERIENCE IN LATIN AMERICA AND AFRICA
19
Financial Advisory
Corporate and Project Finance
Strategic Advisory
Project Development Services
GREENMAX IN LATIN AMERICA + AFRICAGREENMAX IN LATIN AMERICA + AFRICA
Due to complexity of these
markets, GreenMax offers
turn key Concept to
Commissioning support for
projects in Africa and Latin
America.
Turnkey, project specific service offerings
20
• GreenMax, in partnership with Geologica, Sichangi Partners Advocates and True North Kenya, is providing an interdisciplinary team of financial, legal and technical specialists to prepare the Menengai project for investment and implementation.
• GDC is the state owned company charged with managing development of Kenya’s geothermal resources. GDC undertakes exploration and plans tomanage the steam field exploitation, selling steam to private IPPs.
• As part of the first phase at Menengai, GDC is targeting 300MW to be operational in 2017.
• GreenMax will confirm the resource and environmental management plans, design viable steam sales and electricity sales tariffs, advise on a workable organizational and financing structure and promote the opportunity to private IPP investors.
GEOTHERMAL FINANCIAL ADVISORY & PROJECT DEVELOPMENT SERVICESGDC MENENGAI GEOTHERMAL POWER PROJECT
GEOTHERMAL FINANCIAL ADVISORY & PROJECT DEVELOPMENT SERVICESGDC MENENGAI GEOTHERMAL POWER PROJECT
African
Projects
21
GEOTHERMAL FINANCIAL ADVISORY & PROJECT DEVELOPMENT SERVICESAKIIRA ONE LTD. GEOTHERMAL POWER PROJECT
GEOTHERMAL FINANCIAL ADVISORY & PROJECT DEVELOPMENT SERVICESAKIIRA ONE LTD. GEOTHERMAL POWER PROJECT
Akiira One Ltd. (“AOL”), a company solely dedicated to the development of the geothermal project at Akiira, was first established by a Kenyan clean energy development company as a joint venture with the US geothermal developer Ram Energy Inc. AOL is one of the first clean energy project developers in Kenya to obtain a concession for the preparation of a geothermal energy project without government financial support in early stage exploration.
GreenMax, procured a $950,000 services package provided at no cost from the US Overseas Private Investment Corporation (“US OPIC”) Africa Clean Energy Facility (“ACEF”), one of the Power Africa programs sponsored by the US Government, for AOL to support the final stages of project preparation for a 40MW geothermal energy project in Kenya.
The planned project will be:•Constructed on land concessioned to AOL adjacent to the Olkaria geothermal fields, less than 100km outside of Nairobi. A first phase of 40MW will be followed by additional generation capacity totaling 140MW; and•Facilitated by the OPIC funding to pay for a highly qualified set of international and Kenyan consultants to perform the final technical and legal work necessary to commence drilling for the geothermal resource early next year.
22
GEOTHERMAL FINANCIAL ADVISORY & PROJECT DEVELOPMENT SERVICESPRESS COVERAGE
GEOTHERMAL FINANCIAL ADVISORY & PROJECT DEVELOPMENT SERVICESPRESS COVERAGE
Robert Bunyi CEO of AOL, stated: “This grant is a major step in the implementation
of the first fully commercially developed geothermal project in Kenya.
23
SB SPUMANTI
Hanel Power LTD
NIGERIA:Development funding for 2 MW rooftop solar plant Lagos
KENYA:Development funding for 25 MW Ngong Hills Wind Farm
KENYA:Development funding for 10 MW Ngong Hills Solar Park
MMadhvani International
UGANDA:Development Funding for 23MW Bagasse Cogen at Kakira Sugar
Madhvani International
UGANDA:Development Advisory for 30MW Peat Fired power plant in Kabale
H
NIGERIA: Development funding for 60 MW WTE Plant in Lagos
Solar Energy
Uganda Ltd
UGANDA:Working capital for PV installation company
PROJECT FINANCE & PROJECT DEVELOPMENT SERVICESPROJECT FINANCE & PROJECT DEVELOPMENT SERVICES
African
Projects
KENYA:40 MW Geothermal project
24
NIGERIA:6 MW Hybrid CSP–Biomass power plant and 45 MW CCGT project
H
GHANA:Development + implementation funding for a 100MW solar PV plant
Nigeria:60 MW WTE Project
SBS-Hanel Power Limited (SBSHPL)
NIGERIA: Development + implementation funding for LUTH 6MW gas power plant
PROJECT FINANCE & PROJECT DEVELOPMENT SERVICES PROJECT FINANCE & PROJECT DEVELOPMENT SERVICES
African
Projects NIGERIA:Development + Funding of a 50 MW Solar PV Project
KENYA: 40 MW Solar PV plant
OSD Projects Limited
NIGERIA:Development + Funding of a 12 MW Natural Gas Power project
BENIN:Project Development support for 100 MW Solar PV Project
TFI POWER LTD
GHANA:Financing and development of a 60 MW Solar PV Project
RUCO Energy
RWANDA:Financing for a 10 - 12 MW Small Hydro Project
SB SPUMONTI
2-3 MW Solar PV Rooftop project, Nigeria
25 MW Wind energy project, Kenya
Kenya:300 MW phase of Menengai Geothermal project
10 MW Solar PV plant in Ngong Hills, Kenya
25
PROJECT FINANCE & PROJECT DEVELOPMENT SERVICES PROJECT FINANCE & PROJECT DEVELOPMENT SERVICES
Design of RESSEE Financing Facility, Chile
RE & EE Training Seminar & Technical Support, Chile
Geothermal Market & Financial Advisory, Chile and Peru
Geothermal Market Assessment, Caribbean
WTE Market Assessment for Chile and Colombia
Latin-
American
Projects
26
TANZANIA:Grant funding for TA at EWURA on PPAs + tariffs for IPPs
TANZANIA:Market Intelligence Report for Lighting Africa launch in TZ
KENYA:Review of small hydro project development portfolio
UGANDA:Grant funding for TA at Ministry of Energy on Biofuels Plan
UGANDA:Review of Rural Electrification Cooperatives Strategy
H
KENYA: Grant funding for TA at KTDA on small hydro development
RWANDA:Development funding 10MW Rukarara+27MW Nyaborongo Hydro Plants
EAST AFRICAGeothermal Market + Finance Assessment
FINANCIAL ADVISORY: FINANCING FACILITY DESIGN AND GRANT FUNDING SUPPORT
FINANCIAL ADVISORY: FINANCING FACILITY DESIGN AND GRANT FUNDING SUPPORT
African
Projects
H
RWANDA: 2.4 MW Small Hydro power plant
MACHINOFABRIK
NIGERIA: 1000 MW Clean Coal power plant
27
CHILE + PERU:Geothermal Market Risk + Financing Analysis
ARGENTINA:Design of the National Energy Efficiency Fund
COLOMBIA + CHILE : Waste to Energy Market Review + Project DD
PANAMA + DOM. REP.Assessment of Wind Project Investment Opportunities
CHILE:Codelco Copper Industrial Heat Recovery Project DD
CHILE + ECUADORAssessment of Solar PV Investment Opportunities
CHILE: Sustainable Energy Finance Training Workshops
DOM. REPWind Energy Market Assessment + Project DD
FINANCIAL & STRATEGIC ADVISORYFINANCIAL & STRATEGIC ADVISORY
Latin AmericanProjects
28
Clifford J. Aron, Founder & President � 30+ years’ experience in sustainable energy; 18+ in
emerging markets
� Advisor to IFC, the WB, EIB, KfW, EBRD, USTDA, US OPIC
� Advisor to private investors + commercial banks
� Pioneer of ESCO industry in USA
� Founding President NY Energy Efficiency Council
� Director of Energy + Economic Development NYC
� Environmental lobbyist
� Congressional aide on EE policy
Jacek Kostrzewa, Co-Founder�25 + years EE + RES experience
�Specialist in project finance, biofuels technology, wind energy,
solar PV, CHP + EE policy and analysis
�Assignments for EFSE, IFC, World Bank
�President of largest biofuels trader in Poland
�Manager, EC PHARE Multi-country Energy Program Unit in
13 East European countries
�Business Development Director, National Power in Poland
�Founder of the Polish Foundation for Energy Efficiency
THE TEAM: FOUNDING PRINCIPALS THE TEAM: FOUNDING PRINCIPALS
29
Cemal Parlak Manager, Turkey and the Caucasus
�Worked in development and financing of energy projects in Turkey for over eight years. �Worked across range of Clean Energy technologies�Expertise in strategic advisory for Energy Efficiency(EE) upgrades particularly in large industrial facilities�Has developed bankable reports for financing of Sustainable Energy investments in the industrial sector
Dr. Albert Butare Manager East Africa
�20+ years’ experience in energy, technology and RE�Former Minister of State,Infrastructure:Republic of Rwanda.�CEO of Africa Energy Services Group Ltd.�Vice Chancellor of the Academic Deputy of the Kigali Institute Science and Technology (KIST);�Expertise in high-level public sector policy, project development and implementation including engineering
Dr. Vedran UranManager, West Balkans
�Prepared and updated country energy profiles of various eastern europe countries. �Managed the first comprehensive ESCO project in Eastern Europe.�Published over 40 scientific,professional articles in the fields of EE, RE,Energy policy & economics�8+ years’ of experience in the RE and EE with functional finance and engineering experience.
Andres Roi RiedelManager LATAM
�Served as president of WBCO S.A; Former Chairman of the ULI Chile Country Council.�Chairman of the ULI South America Council�Former General director of the development of Parque Bicentenario in Vitacura-Santiag�Directed several urban and real estate studies; currently director of ROI&ASOC;�Expert in advisory on RE projects and investments, architecture, landscaping, urban design, urban & regional planning and real estate analysis
Dr. Akinpelu Cornelius Shogunle Manager West Africa�+30 years’ experience in development and imlementation of energy integration strategies �Experience in system planning and engineering design for generation, transmission & distribution�Engineering designs and technical specifications for geothermal, fossil, solar, and waste-to-energy projects
THE TEAM: SENIOR MANAGEMENT (REGIONAL MANAGERS) THE TEAM: SENIOR MANAGEMENT (REGIONAL MANAGERS)
30
Mr Milan RusnakManager: Energy Efficiency Finance Practice
�Milan manages several of our sustainable energy finance
advisory assignments around the globe.
�Milan recently completed a ten year tenure at the International
Finance Corporation where he implemented various clean energy
programs globally both for investment, working in the Financial
Markets Group and as an advisor working in the Advisory
Services (A2F and SBA units).
Dr. William Kwasi Gboney
Manager, Energy Economics and Tariffs Practice
�+25 years’ experience in the economic regulation of utilities companies
and in power plant operations; expert in econometric, financial and tariff
modelling, application of empirical techniques for utility performance
benchmarking.
�Served as CEO of the International Institute of Infrastructural Economics
& Management (I3EM) and as technical coordinator for the African Forum
for Utility Regulators (AFUR);
Hiwote Teshome Manager, Energy Access Practice
�20+ years’ experience in East Africa energy options; experience in
managing “bottom of the pyramid” marketing analyses for rural cooking
technologies in the region.
�Worked for the Ethiopian Ministry of Infrastructure (MININFRA); served
as Head of Mission of the PAC EA Improved Cook Stove (ICS)
dissemination project targeting urban areas in Rwanda;
THE TEAM: SENIOR MANAGEMENT (SECTOR EXPERTS) THE TEAM: SENIOR MANAGEMENT (SECTOR EXPERTS)
31
Advantages DifferentiatorsClient Segment
• Clean Energy Specialists
• Regional Experience +
Presence
• Track Record of Success
• Results Oriented
• Focus on Research
• Strong Origination
Network
• Established Relationships
with Investors
• Innovative Structures
• Strategic Investors
• Project Developers
• Private Equity Funds
• Infrastructure Funds
• Multilateral Financial Institutions
• Commercial Banks
Design of Financing Facilities
M&A
Project Finance
Project Development Services
Launch Financial Products
Strategic Advisory
GREENMAX ADVANTAGES GREENMAX ADVANTAGES
32
Thank you!
www.greenmaxcap.com
Europe HeadquartersDobra 54/4100-312 WarszawaPhone: +48 22 [email protected]
USA Headquarters540 President St. 3rd FloorBrooklyn, NY 11215Phone: +1 [email protected]
Africa Headquarters CK Gardens Annex,1st Ngong Avenue33223 –00600Nairobi, KenyaPhone: +254 724 255 [email protected]
Latin America HeadquartersMerced 22 Oficina 1101Santiago, ChileTel: +56 2 2639 [email protected]
33