• Masthead for the event

Master the Critical Strategies and Techniques Necessary to Assess & Create Renewable Project Value in Today’s Uncertain Market

Valuation of renewable energy projects is a core skill for participants in the industry; the ability to quantify the long-term risks and rewards of a project remains essential for developers, investors and portfolio owners. Developments such as intensifying competition in project acquisition, the shortening tenor for utility and corporate power purchase agreements (PPAs), and the changing dynamics of power markets in the face of increasing renewable capacity is making the process more complex than ever. The success of investment decisions and project financings in the current market relies on accurately evaluating market and project risk over a long horizon—an increasingly challenging task that can create tension between sponsors, regulators, and debt and equity investors.

The Renewable Energy Asset & Investment Valuation Master Class, thoroughly updated and revised for its first in-person presentation, will conduct a deep dive into valuation approaches in today’s market, and how to use them to meet IRS, investor and regulatory requirements. An in-depth review of the broad sweeping Inflation Reduction Act of 2022 will be provided, as well as post-enactment governmental guidance issued to date. This extraordinary class provides the analytic tools and technical understanding of renewable energy projects necessary to evaluate their economic and financial viability and to effectively structure such projects to meet requirements for project finance and market support. It will step through the rigorous application of valuation approaches, helping develop a depth of understanding and appreciation of how to incorporate market volatility in valuations that rely on varying forward energy price projections provided by competing market sources and often spotty market transaction data.

This Master Class will be taught by senior renewable energy project valuation professionals from Marshall & Stevens, a recognized leader in valuation services, including over $50 billion of renewable energy projects valued over the past 10 years. The class will also feature presentations by highly-respected renewable energy project attorneys, investors and top developers to provide their perspectives of asset valuation in the current market.

CLASS TAKEAWAYS

 

This class will:

  • Provide information and perspectives on current market conditions, M&A activity, financier sentiment and investor risk appetite. The course will provide a discussion of how each of these is affecting the value and bankability of various classes of projects
  • Step attendees through the rigorous application of valuation approaches, discussing their strengths, weaknesses and common pitfalls in their use
  • Discuss how legal and IRS requirements affect cost segregation, and how to avoid changes in depreciated value that can reduce revenue flows
  • Examine how to assess the value of projects that depend on non-contract revenue and sources of yield beyond energy
  • Show how to incorporate risks frequently encountered in both BTM and utility-scale projects, including interconnection issues, construction delays, VPPAs, curtailment and basis risk, hedges, and site control
  • Discuss how to reconcile the sometimes-disparate results coming from different valuation approaches and methods of modeling market volatility to reach the most accurate conclusion possible

MASTER CLASS FEATURES

 

11

Hours of Content

Expert-designed, highly-relevant curriculum

11

Expert Instructors

Direct access to top industry experts and practitioners

In-Person Learning

Optimized professional learning format and setting

Expand Your Network

Connect with top professionals in your industry

INSTRUCTORS

 

  • Lead Instructor


    Ralph Consola
    Principal,
    Business Development

    MARSHALL & STEVENS, INC.

    Contributing Instructors


    Darleen Armour, ASA
    Managing Director,
    Financial Valuation

    MARSHALL & STEVENS, INC.

    Drew Batkin
    Partner
    MILBANK LLP

    Hamed Baatout, CFA, ERP
    Senior Director,
    Project Finance

    EDF RENEWABLES

    Contributing Instructors


    Steve Cunningham
    Managing Partner
    MADISON ENERGY INVESTMENTS

    Mox Elraheb
    Special Counsel
    MILBANK LLP

    John Geraghty
    Managing Director,
    Energy & Infrastructure

    MARSHALL & STEVENS, INC.

    David Kaltsas
    Chief Operating Officer
    GAF Energy

  • Contributing Instructors


    Steve LaMantia, ASA
    Managing Director,
    Energy & Infrastructure

    MARSHALL & STEVENS, INC.

    Luke Liakopoulos
    Managing Director,
    Energy & Infrastructure

    MARSHALL & STEVENS, INC.

    Jim Nutter, ASA
    Managing Director,
    Machinery & Equipment

    MARSHALL & STEVENS, INC.

     

     

     

     

     

     

     

AGENDA

 

Live Q&A and discussion following each session


October 25, 2022 | 7:30 AM - 5:30 PM PST

Session 1: Overview of Renewable Energy Project Valuation and the Inflation Reduction
Session 2: Project Lifecycle and the Role of Valuation
Session 3: Project Risks and the Valuation Considerations
Session 4: Understanding the Cost-based Approaches to Project Valuation
Session 5: Cost Segregation, IRC 1060 Analysis and the Role of Depreciation
Session 6: Valuation Caselaw - An Attorney’s Viewpoint
Session 7: The Income Approach: Valuation of Renewable Projects Based on Contracted and Uncontracted Revenue Flows
Session 8: Panel Discussion: Perspectives on Asset and Enterprise Valuation

October 26, 2022 | 7:30 AM - 12:15 PM PST

Session 9: Reconciling the Results of Multiple Valuation Methods
Session 10: Valuation of Projects and Project Assets in a Repowering Scenario
Session 11: Project Valuation for Other Than Project Finance
Session 12: The Efficient Valuation Process


Nuanced, up-to-date, forward-looking, and contextually presented, the class expanded the depth of our firm’s competency for financial transactions.

- Greg Poulos, CEO, ArcVera Renewables


The Master Class was very efficient, educational, effective and productive, and I will do more of these regardless of if we are traveling and going to in-person.

- Peter Blood, Founder and Managing Partner, CYCLE

 

VENUE

 

Omni Los Angeles Hotel at California Plaza
251 South Olive Street
Los Angeles, California 90012
Phone: (213) 617-3300



**WARNING: Please do not book any guest rooms with 3rd Party Housing Companies for this event. Infocast does not partner with outside housing companies, so we advise that you only book guest rooms at the hotel using the details provided above.**

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