renewable energy finance forum - American Council On Renewable ...

acore.org

renewable energy finance forum - American Council On Renewable ...

Co-Organizers

Over 800

expected

attendees

renewable energy finance forum

June 19 – 20, 2012

The Waldorf=Astoria, New York City

2012 Highlights:

Hear directly from the

industry powerhouse players:

More than 50 renewable energy

thought-leaders will address

the forum

Network directly with

the decision-makers:

Over 780 delegates joined

the debate in 2011

Source capital for

your projects:

Gain insight into traditional

and innovative financing strategies

to ensure you can get your

projects moving

Hear from:

Jonathan Plowe

Managing Director –

New Energy &

Infrastructure Solutions,

Bank of America

Merrill Lynch

Raymond Wood

Global Head

Renewable Energy,

Credit Suisse

Steven Corneli

SVP – Sustainability

Policy & Strategy,

NRG Energy

William M. Moore

Chief Executive Officer,

Deepwater Wind

John Eber

Managing Director –

Energy Investments,

JP Morgan

Platinum Sponsor

Gold Sponsors

Silver Sponsors

Bronze Sponsors

Research Partner

Strategic Communication Partner

www.reffwallstreet.com +1 212 901 3828 energyevents@euromoneyplc.com


The USA’s premier renewable energy fin

With dwindling federal support, high-profile bankruptcies and continued risk adversity from capital

providers, the renewable energy industry has big obstacles to overcome as we move forward.

The U.S. and the world continue to be under great economic scrutiny, but there are signs of

encouragement: PPA and module prices are falling, and new lenders are waking up to the potential

of renewable energy projects. Join us at REFF-Wall Street 2012 and make sure you

don’t get left behind.

A world without federal support

The expiry of the PTC, ITC and Section 1603 cash

grant program and the fact that 2012 is an election year

clearly means renewable energy can no longer rely

heavily on support from the federal government, at least

in the short term. Now we need to look increasingly

towards the individual states to continue to support the

development and deployment of renewable energy and

for this ever-more creative industry to figure out how to

do business in a climate without federal support.

Thinking outside the box

Whilst liquidity is returning to the capital markets, many

lenders are still risk averse in their lending profiles

and recent bankruptcies have also raised the issue of

who assumes risk and when. Innovation is key. Join us

as we create a dialogue between the various facets of

the lending community to identify different sources of

funding for your projects.

Grid parity – pipedream or reality?

How competitive is renewable energy when compared,

in real terms, to other fuel sources? For the first time,

this year’s program will look at other fuels as both

competitors and collaborators and explore their

interface with renewable energy as we look towards

achieving grid parity at competitive rates.

How do we do it?

REFF-Wall Street once again brings you a cutting

edge agenda developed by the industry

for the industry, in conjunction with our Co-

Chair panel of leading renewable energy experts.

We would like to extend our thanks to the 2012

Co-Chair panel:

• Ted Brandt

Chief Executive Officer, Marathon Capital LLC

• John Cavalier

Managing Partner, Hudson Clean Energy Partners

• Nicholas Eisenberger

Founding Partner, Pure Energy Partners

• Matt Ferguson

Principal & Practice Leader of National Renewable Energy,

Reznick Group

• Lisa Frantzis

Managing Director of Renewable & Distributed Energy,

Navigant Consulting

• Kenneth Locklin

Managing Director, Impax Asset Management

• Laura Lovelace

Co-Founder & Managing Director, Wellford Energy

• Keith Martin

Partner, Chadbourne & Parke LLP

• Michael Ware

Managing Director, Advance Capital Markets

2


ance event is back in New York

Co-Organizers

Why attend REFF-Wall Street?

• Get face-time with the decision-makers: Over 70% of attendees in 2011 were at

Director level or above

• Join the largest international gathering of renewable energy finance

leaders in the U.S: Last year’s event attracted more than 780 attendees from

20 countries

• Structure your deals effectively: Our panel of over 50 speakers

deliver practical takeaway advice on how to get the best terms for your deals

• Put renewable energy into context: Understand how the

U.S. fits into a broader global context and how you can do more

to attract international capital

• Network, network, network! Develop existing

relationships and forge lucrative new ones at our networking

receptions, lunches and breakfast

About the organizers

A division of Euromoney Institutional Investor PLC,

Euromoney Energy Events delivers high-profile events

for energy and finance professionals worldwide. Our

flagship Renewable Energy Finance Forums started in

1999, in London, and have grown alongside the burgeoning

renewable energy industry into a series of internationally

renowned events, catering to over 2,500 professionals each

year. These include REFF-Wall Street, REFF-West, REFF Latin

America & Caribbean and REFF Canada. For more information

visit www.euromoneyenergy.com

The American Council On Renewable Energy (ACORE) is a 501(c)(3)

non-profit membership organization dedicated to building a more secure

and prosperous America with clean, renewable energy. ACORE seeks to

advance renewable energy through finance, policy, technology and market

development and is concentrating its member focus in 2012 on National Defense

& Security, Power Generation & Infrastructure, and Transportation. For more

information visit our website: www.acore.org

Hear from:

Jonathan Plowe

Managing Director –

New Energy &

Infrastructure Solutions,

Bank of America

Merrill Lynch

Raymond Wood

Global Head

Renewable Energy,

Credit Suisse

Steven Corneli

SVP – Sustainability

Policy & Strategy,

NRG Energy

William M. Moore

Chief Executive Officer,

Deepwater Wind

John Eber

Managing Director –

Energy Investments,

JP Morgan

About the venue

REFF-Wall Street is delighted to be returning once again to the inimitable Waldorf=Astoria in the heart of New

York City. Accommodation is available at the very special rate of $315 + tax, which represents a considerable

saving off other published rates at the property. This rate is only available to participants of REFF-Wall Street. For

information on how to book your accommodation, please see page 8.

Strategic Communication Partner

3


CONFERENCE AGENDA

Monday June 18, 2012

17:30 – 19:30

Welcome Reception

Join us at a true New York landmark, the iconic

Central Park Boathouse, and make key contacts

ahead of the start of the conference sessions.

The Loeb Boathouse Central park

East 72nd St & Park Drive North, New York

7:30 Registration & coffee

Sponsored by

Day 1: Tuesday June 19, 2012

8:45 Welcome & opening remarks

Henry Hely Hutchinson, Managing Director,

Euromoney Energy Events

VADM Dennis V. McGinn (USN, Retired),

President & CEO, ACORE

9:00 – 9:30 SESSION 1:

OPENING KEYNOTE

This opening session will provide a backdrop for subsequent

conference proceedings by giving high-level perspectives on

public policy, financial markets and corporate strategy in the

renewable energy sector.

Chair:

VADM Dennis V. McGinn (USN, Retired), President

& CEO, ACORE

Speakers:

Richard Kauffman, Senior Advisor to the Secretary of Energy,

U.S. Department of Energy

Katherine Hammack, Assistant Secretary of the Army for

Installations, Energy & Environment, U.S. Army

Daniel C. Esty, Commissioner, Connecticut Department of

Energy & Environmental Protection

9:30 – 11:00 SESSION 2:

MAKING SENSE OF THE

POLITICAL LANDSCAPE

Increased uncertainty surrounding what, if any, federal support

will still be available for renewable energy projects and the

shifting focus of government in this election year make for

uncomfortable times for many in the renewable energy sector.

In this session, we look through the political cloud and consider

alternative strategies, including:

• How is the role of the individual states changing and

how can we encourage them to support renewable

energy deployment?

• Mapping the pathway for how to do business

in a world with fewer federal subsidies – getting creative

• Understanding and evolving the renewable portfolio

standard to encourage wider state acceptance

and participation

• Making the U.S. an attractive place for international

renewable energy capital – overcoming the tax

equity hurdle

Co-Chairs:

Laura Lovelace, Co-Founder & Managing Director,

Wellford Energy

Madeleine Tan, Partner, Kaye Scholer LLP

Arturo Herrero, Chief Marketing Officer, Jinko Solar

Speakers:

Keith Martin, Partner, Chadbourne & Parke LLP

Steven Corneli, SVP – Sustainability Policy & Strategy,

NRG Energy

Nicholas d’Arbeloff, President of Regional Development &

National Programs, Advanced Energy Economy

Jonathan Weisgall, Vice President for Legislative Affairs,

MidAmerican Energy Holdings Company

11:00 Networking Refreshment Break

11:30 – 12:30 SESSION 3:

COMPETITORS OR COLLABORATORS?

ExPLORING THE INTERPLAY BETWEEN

RENEWABLE ENERGY & OTHER FUEL SOURCES

As the renewable energy industry begins to show signs of

reaching price parity, with PPAs coming down, now is the

time to put the sector into a broader energy context. In this

new session for 2012, panelists will explore the relationships

between renewable energy and other parts of the energy

industry, including:

• The evolution of natural gas markets and the natural

interplay with renewables – can these technologies

complement each other?

• What does the renewable energy sector need to know

about the shale gas revolution?

• Broadening the debate: What role can be played by

demand response, peaking support, storage, energy

efficiency and electric vehicles? Where do they interface with

the renewables market?

• Increased market share: How realistic is it that renewable

energy and its collaborators could compete effectively with

traditional fossil fuels?

Chair:

Kenneth Locklin, Managing Director,

Impax Asset Management LLC

Speakers:

Tanya L. Bodell, Managing Director, FTI Consulting

Richard G. Smead, Director, Navigant Consulting

Matt Most, Vice President – Demand Development & Policy,

Encana Natural Gas Inc.

12:30 Networking Lunch

Sponsored by

14:00 – 15:30 SESSION 4:

WALL STREET WEIGHS IN –

HOW DO THE INVESTMENT BANKS SEE IT?

Always one of our most popular sessions, hear directly from

the dealmakers and get the latest investment banking updates.

Adding a new twist for 2012, this year we also invite some of

Wall Street’s boutique firms to contribute their perspective, to

make sure you can effectively tap the capital markets.

Co-Chairs:

Ted Brandt, Chief Executive Officer, Marathon Capital LLC

Chris Groobey, Partner, Wilson Sonsini Goodrich & Rosati

4


CONFERENCE AGENDA

Speakers:

Raymond Wood, Global Head Renewable Energy,

Credit Suisse

Kevin Genieser, Managing Director, Morgan Stanley

Amy Corrine Smith, Managing Director, Head Global

Cleantech Investment Banking, Jefferies & Company Inc.

Henry Berling, Managing Director, Ewing Bemiss & Co.

Timothy Huckaby, Managing Director, FMI Capital Advisors

Scott DeGhetto, Managing Director, Power, Utilities &

Renewable Energy, Moelis & Company

15:30 Networking Refreshment Break

16:00 – 17:30 SESSION 5:

SOLAR FINANCE – GETTING THE SUNNY

FORECAST BACK

Few could deny it has been a turbulent year for solar players.

With several high profile bankruptcies and government

investigations, the spotlight was thrust onto the sector’s

difficulties, but not its successes. This session will feature leading

players from across the value chain talking about the lessons

we need to learn from this and how we can get past the bad

headlines. Issues for debate include:

• The changing nature of solar financing – who is playing in

the market, what are their terms and what is their appetite

for risk? What happens when there is a bankruptcy involved?

• Impact of system and site-specific design on

project bankability

• Making sure your margins are good - understanding the

effect of decreasing module prices and the potential for

grid parity

• Celebrating success – what successes have we seen this

year, and how can you differentiate the winners from the

losers? Is it about more than just luck?

Co-Chairs:

Michael Eckhart, Managing Director, Global Head of

Environmental Finance & Sustainability, Citigroup Inc.

John Lorentzen, Partner, Winston Strawn LLP

Speakers:

Arno Harris, Chief Executive Officer, Recurrent Energy

Kevin Smith, Chief Executive Officer, SolarReserve

Chase Weir, Chief Executive Officer, Distributed Sun

Lyndon Rive, Chief Executive Officer, SolarCity

Edward Fenster, Co-Founder & CEO, SunRun

Carlos Domenech, President, SunEdison

17:30 Close of Conference Sessions

17:30 –19:30

Evening Networking Reception

Sponsored by

Join us for our hugely popular

evening networking reception

at the end of Day One, for a

chance to discuss the day’s

proceedings with fellow

delegates, cement existing

relationships and meet new

business partners in a relaxed

informal setting.

Café St. Barts

109 East 50th St, New York, NY 10022

Day 2: Wednesday June 20, 2012

7:30 Registration opens

7:45 – 8:45

Networking Breakfast

Sponsored by

Raise your profile at

our networking

breakfast, where

delegates will have the

opportunity to introduce

themselves to their fellow

conference attendees

using a roving microphone.

09:00 Conference Opens

Paul Clark, Senior Conference Manager,

Euromoney Energy Events

09:05 – 9:30 SESSION 6:

WELCOME & KEYNOTE PRESENTATION

The opening session on Day Two will feature a keynote

address from a senior level industry executive, considering

changing dynamics in the renewable energy markets and

providing a context for the day’s discussions.

09:30 – 11:00 SESSION 7:

PROJECT FINANCE – ASSUMING RISK

This session will delve deeper into the structuring and practical

considerations of project finance, comparing different financial

models and their future potential, including:

Project debt and equity

State and public finance structures

• Tax equity and other tax considerations, including reform

possibilities and how to make investment attractive to

overseas companies

Deal structuring, issues and trends

Leasing

• Who will assume the risk? Is the nature of project finance

deals changing?

Co-Chairs:

Matt Ferguson, Principal, National Renewable Energy Practice

Leader, Reznick Group

Christopher Moore, Partner, Orrick, Herrington &

Sutcliffe LLP

Speakers:

Jonathan Plowe, Managing Director – New Energy &

Infrastructure Solutions, Bank of America Merrill Lynch

Thomas Emmons, Managing Director, Rabobank Group

John Eber, Managing Director – Energy Investments,

JP Morgan

Ann Banks, Chief Commercial Officer, Summit Power Group

Pat Eilers, Managing Director, Madison Dearborn Partners LLC

11:00 Networking Refreshment Break

Available

to

Sponsor

REFF Wall Street is unquestionably the leading renewable energy networking event.

Elizabeth Kaiga, Reznick Group

5


CONFERENCE AGENDA

11:30 – 13:00 SESSION 8:

NEW TRENDS IN RENEWABLE

ENERGY FINANCE

The renewable energy sector seems to be in a period of flux,

natural in any maturing industry. While investor confidence

can be shaken by bankruptcies and periods of difficulty, it can

also create opportunities for smart investors in the space.

Issues considered in this session include:

• Attitudes of sovereign investors and infrastructure funds

towards renewable energy assets and how we can continue

to engage them

• Alternatives to tax credits – MLPs, REITs and other

financing mechanisms

• Expansion capital issues – where will it come from and what

terms will be attached to it?

• Consolidation outlook – if M&A is going to be a continuing

trend in the industry, how can you make it work for you?

• Thinking outside the box – what routes are available to you

outside of the traditional project finance route? Can the

bond and eco securities markets work for you?

Co-Chairs:

John Cavalier, Managing Partner,

Hudson Clean Energy Partners

Patricia Hammes, Partner, Shearman & Sterling LLP

Speakers:

Dan Adler, President, CalCEF

Harry Goldgut, Chairman, Brookfield Renewable Power

David Giordano, Managing Director,

Blackrock Alternative Investments

Frank Napolitano, Managing Director & Group Head,

Power & Utilities, RBC Capital Markets

Robert Bothwell, Executive Managing Director,

Beecher Carlson

13:00 Networking Lunch

Sponsored by

14:30 – 15:45 SESSION 9:

OVERCOMING WIND CHALLENGES

– LIFE WITHOUT THE PTC

As federal subsidies evaporate, the wind sector is certainly in a

blustery period. In this session, panellists will debate the future

of the sector and explore how you can steer your way past

the challenges and still deliver a profitable project. Issues for

debate include:

• What is the real impact of the expiration of both the PTC

and the ITC on wind financing and projects? How can you

get around the reversed optionality?

• How will the non-renewal of the Section 1603 cash grant

program affect the willingness of capital providers to get

involved in wind projects?

• Siting and permitting issues – getting it right

• Offshore wind – how will this change the forecast of wind

finance, and what opportunities are there to play in this

space as a smaller company?

Chair:

Lisa Frantzis, Managing Director Renewable Energy &

Distributed Energy, Navigant Consulting

Speakers:

Brian Bolster, Managing Director, Goldman Sachs

William M. Moore, Chief Executive Officer, Deepwater Wind

Tim Rosenzweig, Chief Executive Officer,

North America, Goldwind

15:45 Networking Refreshment Break

A selection of thought-leading panelists will look back over the

two days’ proceedings and reflect on lessons learned, together

with thoughts on what to expect for the future of renewable

energy in the U.S. in both the short and long-term. Expect

some controversial and thought-provoking discussion!

Chair:

Michael D. Ware, Managing Director,

Advance Capital Markets

Speakers:

Dr. Joseph A. Stanislaw, Founder, The JA Stanislaw Group

Ira Ehrenpreis, General Partner, Technology Partners

Michael Di Capua, Head of U.S. Analysis,

Bloomberg New Energy Finance

Nicholas Eisenberger, Founding Partner,

Pure Energy Partners

Neil Auerbach, Founder & Managing Partner,

Hudson Clean Energy Partners

Rhone Resch, President & Chief Executive Officer,

Solar Energy Industries Association

17:15 Closing remarks

Henry Hely Hutchinson, Managing Director,

Euromoney Energy Events

VADM Dennis V. McGinn (USN, Retired),

President & CEO, ACORE

17:30 Close of REFF-Wall Street 2012

Available

to

Sponsor

16:15 – 17:15 SESSION 10:

CRYSTAL BALL – WHAT DOES THE FUTURE

HOLD FOR RENEWABLE ENERGY?

Supporters

Power Intelligence

Incorporating Power Finance & Risk

6


Sponsorship Opportunities

at REFF-Wall Street

Promote your organization at North America’s

premier renewable energy finance conference

Sponsor REFF-Wall Street

Sponsorship at REFF-Wall Street offers you unrivaled exposure to a top-level audience.

Over 70% of delegates are CEO/CFO/MD/Partner level. Our delegates are industry leaders who come from the

financial sector, the energy industry and government. Over the last 9 years, REFF-Wall Street has established

itself as the ‘must-attend’ event for the renewable energy finance sector.

Benefits of sponsoring:

Receive the delegate list prior to the event, before other attendees

Complimentary passes included within your package

Logo visibility on the main stage, the backdrop for all conference sessions

Promotional corporate literature inserted into every delegate bag

Your contact details included in the conference documentation to ensure that delegates can reach you

• Feature on the conference website, with a hyperlink to your corporate homepage and a

company description

Limited sponsorship options still available:

Host the Opening Reception at the Boathouse, Central Park

Brand the delegate handbook and gift

• Sponsor all Recycling Points

Book now to avoid disappointment

Exhibit at REFF-Wall Street

The Exhibition Hall presents the perfect opportunity to promote your company, services,

knowledge and achievements while ensuring both long-term and brand new clients

know where to find you. This is the place to be, as it hosts all refreshment breaks and

networking and is located directly next to the conference auditorium.

All sponsorship packages are bespoke and can be customized to meet your business objectives.

Over 780

attendees

in 2011

For further information and to receive a detailed sponsorship prospectus, please contact:

Chris White, Commercial Manager, Euromoney Energy Events • Tel: +44 20 7779 8917 • Email: cwhite@euromoneyplc.com

Or Marc Morgan, Director of Development, ACORE • Tel: +1 202 777 7584 • Email: morgan@acore.org

Platinum Sponsor

Gold Sponsors

Silver Sponsors

Bronze Sponsors

Research Partner

7


5th annual

West

renewable energy finance forum

September 27–28, 2012

Four Seasons Hotel, San Francisco, USA

Co-Organizers

For more information visit www.reffwest.com

THREE EASY WAYS TO REGISTER

www.reffwallstreet.com

+1 212 224 3570 energyevents@euromoneyplc.com

Hotel Information

Commercial Rates

Delegates

per

Organization

Regular

Standard

Early Bird Ends

May 4, 2012

Regular

ACORE Members

Early Bird Ends

May 4, 2012

1st $2,499 $2,299 $2,249 $2,049

Group

Discounts

2nd $2,249 $2,049 $1,999 $1,799 $250

3rd – 4th $2,149 $1,949 $1,899 $1,699 $350

5th + $1,999 $1,799 $1,749 $1,549 $500

*To qualify for the early bird rates, payment must be received in full prior to the deadline. All discounts applied

at the sole discretion of Euromoney Energy Events and ACORE

Government, Academic and Non-Profit Rates**

Standard $1,395 ACORE Members $1,095

REFF-Wall Street 2012 will be held at the legendary

Waldorf=Astoria in New York. Accommodations are

available at the Waldorf=Astoria at the special rate of

$315+ tax per room per night. This offer is only available

to participants in the 9th REFF-Wall Street, and represents

a considerable saving off other published rates at the

property.

To book your accommodation at this special rate, please

call 1-877-GROUP-WA, reference code RFW or book

online through the Hotel tab on www.reffwallstreet.com.

This special rate expires Wednesday, May 30, 2012.

**Early bird and multiple bookings do not apply to these rates

Cannot attend? Please pass this brochure onto a colleague or you can purchase the forum

documentation material for $600.

A full refund (less 10% administration charge) is available for cancellations received in

writing by May 18, 2012. You will be liable for the full conference fee after this date. However, a

substitute delegate may attend in your place at no extra charge, provided you notify us in writing

before the event. Registrations received after May 18, 2012 are non-refundable.

Please note: Delegate passes are for use by one person only. The swapping of badges will not

be permitted.

8

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