The course will address a variety of contract and loan structuring issues associated with the wind and solar energy projects as well as battery storage. The course is designed to investigate how various project finance techniques and contract structures can be used to achieve competitive power prices while maintaining a satisfactory equity return. The course will begin by discussing distinctive project finance features of facilities that depend on the wind, hydro or solar resources. Subsequent sessions will address the theory underlying liquidated damages for delay, and performance as well as the design of other incentives that is inherent in different contract structures. Nuanced project finance issues associated with structuring debt for renewable projects will be discussed including under what conditions the DSCR drives debt capacity and when the debt to capital ratio is instrumental.
The course will be taught with a combination of theoretical discussions, term sheet review and focused financial models.