Financing distributed generation in LAC

Thursday 31 May 2018, 17:00 CET

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While most attention for solar developments in LAC is drawn towards the utility-scale projects, distributed generation is on the rise as well. Distributed generation makes great sense in rural areas that are not yet connected to the grid, as well as on islands in which conventional energy technologies are expensive. Besides these micro-grids, the development of C&I solar and residential solar is on the rise as well, spurred by favourable policies that stimulate decentralized energy generation. 

Solar PV offers almost endless possibilities for distributed generation. In order for the possibilities to be realized, projects need funding. Funding is proving to be the most important bottleneck for DG projects. Through our webinar we aim to address the key issues that hinder the financing of solar DG projects, being:

  • Currency Risks
  • Dealing with uncredible off-takers
  • Making a stable return on an unstable energy source
  • Lack of scale to make DG projects bankable
  • Local regulatory resistance
ELIO MULLER /// CEO - SOLAR AXIOM INVEST
In 1997, Mr. Muller formed Muller Group International (MGI), an international business consulting firm focusing on business development, project development, joint ventures, project financing and legal consulting in Latin America, and Spain. Under Mr. Muller’s direction, MGI has led the creation of several power development companies and projects throughout Latin America and the United States. In addition to its power development consulting business, MGI has served clients in the areas of Cross-border International Finance and more recently in alternative energy. Mr. Muller served on assignment to the Overseas Private Investment Corporation OPIC in Washington D.C. as the Investment Development Manager for Central America and the Caribbean. Mr. Muller was responsible for business development in the region.
Elio Muller is Co-Founder and CEO of Solar Axiom (SAX). SAX is focused on the development and ownership of small commercial solar energy production facilities in Florida, the Caribbean and Central America. SAX is a pioneer “Build-Own-Operate” developer of small renewable energy facilities in the region. SAX is created and operated as a Benefits Corporation.
ELIO MULLER
CEO /// SOLAR AXIOM
PER VAN SWAAY /// SENIOR VP - TCX
Per van Swaay joined TCX in 2010 and is responsible for TCX business development in Africa. Prior to TCX, Per worked in African project finance at FMO, the Dutch Development Bank and before moving into banking and development finance, he worked as a corporate lawyer in Holland and the US.
TCX is a special purpose fund to hedge the currency and interest rate mismatch that is created in cross-border investments between international investors and local borrowers in frontier and less liquid emerging markets.
PER VAN SWAAY
SENIOR VP /// TCX
FERNANDO ALVARADO /// CEO & PRESIDENT - SUSTAINABLE ENERGY CENTRAL AMERICA
Development Investment Banker with 25 years of international credit and investment experience and 15 years of direct experience assessing diversified renewable energy portfolios in Latin America & the Caribbean for more than $100MM consisting of more than 40 investments. His financial, credit and investment experience includes working with financing from IFC, IDB, Citibank, Finnfund, BIO, Triodos, CABEI, MIF, and several commercial banks in Central America. He serves in the Board of Veragua Foundation of Costa Rica and as Advisor of Cleantech Methods of the US, a consortium that develops, incubates, invests and Works on policy of clean energies in Latin America and the Caribbean. Costa Rican, based in San Jose, Mr. Alvarado has an MBA in Banking and Finance cum laude from Universidad de Costa Rica. His passions include diving (PADI Rescue Diver) and mountain biking.
FERNANDO ALVARADO
CEO & PRESIDENT /// SUSTAINABLE ENERGY CENTRAL AMERICA

Coming of age of financing solar PV in LAC

20 March 2018, 16:00 CET

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Driven by auctions and enabling policies, the development of solar PV projects in Latin America has spurred over the last couple of years. The main question remains how to attract financing for these projects. The Inter-American Development Bank plays a vital role via its private arm IDB Invest, but investments from traditional parties like commercial banks and institutional funds are needed to scale up. In a prologue to our upcoming conference, Elizabeth Robberechts from IDB Invest and Jorge Barrigh from LAC-CORE will discuss this in this webinar, focussing on the following topics:

  • Key considerations for investing in solar PV projects in Latin America
  • What’s the potential for blended finance?
  • Which policies are needed to enable the further growth of solar PV in LAC?
  • What can developers do to attract low-cost capital?
ELIZABETH ROBBERECHTS /// INVESTMENT OFFICER - IDB INVEST
Elizabeth Robberechts is a Lead Investment Officer in the IIC’s Infrastructure and Energy Division, based in Washington, D.C. Her focus is on the origination and structuring of financings for utility-scale renewable energy projects in Latin America and the Caribbean. For three years, Elizabeth was based in the IDB Group’s office in Santiago, Chile, where she met with dozens of renewable energy developers and witnessed first-hand the dramatic evolution of the solar sector. She has experience in the origination and negotiation of financings for energy projects utilizing wind, PV solar, concentrated solar and geothermal technologies, with a recent emphasis on PV solar financings in Chile, Uruguay and Brazil. Since 2012, Elizabeth has participated in the financing of five PV solar projects in Latin America, including the first project financing of a PV solar project in Chile, as well as the structuring of financing for solar projects exposed to merchant risk. Elizabeth speaks Spanish and English and earned bachelor’s and master’s degrees from Cornell University.
ELIZABETH ROBBERECHTS
INVESTMENT OFFICER /// IDB INVEST
JORGE BARRIGH /// CO-CHAIRMAN - LAC-CORE
Jorge Barrigh’s career has focused on climate change and green financial instruments as well as renewable energy, with posts at Ecoressources, Inc in Canada; Natsource LLC in Panama; as Fund Manager for the Corporacion Andina de Fomento/CAF in Venezuela. He has advised the Peruvian COP and the IDB on green strategies. He is also a board member of the Latin American and Caribbean Council on Renewable Energy (LAC-CORE).
JORGE BARRIGH
CO-CHAIRMAN /// LAC-CORE

Seminario en línea /// Negociando PPAs con Consumidores de Energía Comerciales e Industriales en Latinoamérica


Webinar Recordings /// Keys to Unlocking Capital for Solar in Latin America

January 25, from 5-6pm CET / 11-12am EST

Developments in the regulatory and business environments throughout Latin America have led to significant growth in the region’s solar markets over last few years. However, access to capital, through well-structured bankable projects, remains a key challenge. This issue, among others, will be discussed during Unlocking Solar Capital LATAM.

In this webinar, as a prologue to our event, our panel of experts will explore the most pressing issues facing Latin American solar markets including:

  • Obtaining low cost capital
  • Regulatory updates in key regional markets and their impact for solar
  • Strategies to create an enabling environment for matching the right type of capital with the right types of projects
  • Drivers and outlook for Latin American solar markets in on-grid and off-grid segments
JOHN PADILLA /// MANAGING DIRECTOR - IPD LATIN AMERICA
John is a partner and Managing Director of IPD Latin America, a U.S. based independent energy consultancy specializing in above the ground risk in the oil and gas industries in Colombia, Mexico, Peru and Venezuela. John has been directly involved in the company's expansion into Mexico in 2001, Colombia in 2009 and Peru in 2013. After 20 years in New York, John relocated and has been based in Bogota, Colombia since April 2011. John’s ten years of Wall Street experience in structured energy and infrastructure financing and deal-making add a unique perspective to IPD’s consulting services. He directs a range of consulting efforts at IPD, including its due diligence practice, forecasting, and other strategic client-oriented efforts.
JOHN PADILLA ///
MANAGING DIRECTOR /// IPD LATIN AMERICA
ELIZABETH ROBBERECHTS /// LEAD INVESTMENT OFFICER - IIC’S INFRASTRUCTURE AND ENERGY DIVISION
Elizabeth Robberechts is a Lead Investment Officer in the IIC’s Infrastructure and Energy Division, based in Washington, D.C. Her focus is on the origination and structuring of financings for utility-scale renewable energy projects in Latin America and the Caribbean. For three years, Elizabeth was based in the IDB Group’s office in Santiago, Chile, where she met with dozens of renewable energy developers and witnessed first-hand the dramatic evolution of the solar sector. She has experience in the origination and negotiation of financings for energy projects utilizing wind, PV solar, concentrated solar and geothermal technologies, with a recent emphasis on PV solar financings in Chile, Uruguay and Brazil. Since 2012, Elizabeth has participated in the financing of five PV solar projects in Latin America, including the first project financing of a PV solar project in Chile, as well as the structuring of financing for solar projects exposed to merchant risk. Elizabeth speaks Spanish and English and earned bachelor’s and master’s degrees from Cornell University.
ELIZABETH ROBBERECHTS ///
LEAD INVESTMENT OFFICER /// IIC’S INFRASTRUCTURE & ENERGY DIVISION