Solar Finance in Emerging Markets (4 days)

Financing of solar projects on-and off-grid from pico-solar to utility-scale power plants.

1. Introduction

2. Physical and Technical Aspects of Solar

• Components of solar systems, irradiation, estimation of annual energy production and its uncertainty.

3. Grid-connected Solar PV

• Technical challenges, commercial operating models

4. Off-grid Applications

• Technical challenges, target areas, load profiling, commercial operating models and motivation for hybridization.

5. Hybrid Systems

• Components in hybrid systems: diesel, battery, wind turbine, hydro turbine: technologies, commercial parameters.
• Solar & diesel: in fuel saver mode or with either passive or active controller.
• Solar & battery: objective of use of battery, self-sufficiency
• Other hybridizations: solar & battery & diesel, solar & wind, solar & hydro.

6. Financing

• Financing instruments: grants, debt & equity instruments, leasing, tax credits, guarantees, non-recourse vs. corporate finance. Carbon finance.
• Use of cash flow model to analyse and structure a deal that allows both investors and lenders to participate whilst providing economic benefits to the offtaker / client.

7. Investment Lifecycle

• Use the mode to support decision making process for sponsor, investor and lender during first round of financing. Re-financing debt, secondary equity sale.

8. Risk Assessment & Strategy

• Discussion of risks how to deal with them, account for them in the model or measure them using the model: risks include credit, market, interest, infrastructure, engineering, liquidity, supply, currency, political and environmental.

9. Risk Analysis in Model

• Using the model to assess risks better with sensitivity analysis, scenario analysis, two-way sensitivity analysis.