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AWEA Wind Power
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| Program Agenda | Print Agenda |
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Program Chairperson
Edward W. Zaelke, Partner
Chadbourne & Parke LLP
Monday, October 6 |
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12:00 pm
Registration Opens
Location: Grand Ballroom Foyer
Please note: Lunch will not be provided
NEW Networking Activities: Please stop by our member services table in the Grand Ballroom Foyer to pickup your company type ribbon to help facilitate networking throughout this event. There will be multiple breaks and a reception providing networking opportunities to you as a workshop attendee and the company type ribbons will make it easier than ever to identify the attendees you most want to meet while at the event.
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1:30 pm - 2:15 pm
AWEA Executive Report: The State of the Wind Industry
Randall Swisher, Executive Director,
American Wind Energy Association (AWEA)
Wind’s Potential and the Road Map
Program Chairperson: Edward W. Zaelke, Partner, Chadbourne & Parke LLP
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2:15 pm - 3:45 pm
What Makes a Wind Project Work?
A basic overview of a successful wind project, the challenges and current
trends covering wind assessment, permitting, equipment supply and off-take issues.
Each speaker will give a brief presentation, followed by a panel discussion.
Session Chair: Jeff Schlichting, Principal, HMH Energy Resources, Inc.
Speakers:
Gordon Randall, Technical Analyst, DNV Global Energy Concepts
MeteorologyRandy Becker, Senior Director, R. W. Beck
Procurement, design and constructionJames T. Tynion, III, Partner, Foley & Lardner LLP
Off-take contracts, leases, etc
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3:45 pm – 4:15 pm
Break
Location: Grand Ballroom Foyer
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4:15 pm – 6:00 pm
The US Economic Situation:
Financial Tsunami or Cataclysmic Change? Implications to the NA Wind Business
Session Chair will give a presentation, followed by a panel discussion.
Session Chair: Ted Brandt, Chief Executive Officer,
Marathon Capital, LLC
Panelists:
Jeff Chester, Kaye Scholer LLP
Thomas Emmons, Head of Structured Finance, HSH Nordbank AG, New York Branch
John Veech, Managing Director Head of Global Project Finance, Lehman Brothers
Carl Weatherley-White, Barclays Capital
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Networking Reception
Sponsored by Stoel Rives LLP
Immediately following the program for one hour
Location: Palm Room on the Lobby Level
Tuesday, October 7 |
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7:00 am
Registration Opens & Continental Breakfast
Tuesday Breakfast and Breaks Sponsored by Suzlon Wind Energy Corporation
Location: Grand Ballroom Foyer
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8:15 am - 8:30 am
Daily Summary & Outlook
Program Chairperson: Edward W. Zaelke, Partner,
Chadbourne & Parke LLP
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8:30 am - 9:00 am
The Wind Industry Agenda for
the New
President and Congress
Greg Wetstone, Senior Director of Governmental & Public Affairs,
American Wind Energy Association
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9:00 am - 10:30 am
Current Challenges in Wind Finance
Panel A: Offtake and Hedging Arrangement
(9:00 am – 9:45 am)Session Chair will give a presentation, followed by a panel discussion.
Session Chair: Tom Amis, Partner, Alston + Bird LLPPanelists:
Sherri Brudner, Associate Director, Macquarie Cook Power Inc.
Gisela Kroess, Director, Global Structured and Project Finance, UniCredit Markets and Investment Banking, Bayerische Hypo- und Vereinsbank AG
Jeremy Rosenshine, Transaction Counsel, Babcock & Brown LP
Panel B: Turbine Supply Issues
(9:45 am – 10:30 am)The current restrictions in wind turbine supply find their source, for the most part, in the component supply chain. The wind turbine manufacturers fabricate varying amounts of their own components, but all of them tightly specify the components that they integrate into their turbines no matter who makes it. Analogous to the automotive industries approach, this sometimes requires long term supply commitments, financial partnering and joint operations to manage an adequate flow of components from sub-suppliers while maintaining high quality. Such partnerships move way from the multi-sourcing paradigm that has held until recently. This panel will explore the risks and opportunities in the supply chain for the manufacturers, the suppliers and the financial community.
Session Chair will give a presentation, followed by a panel discussion.
Session Chair: Brian McNiff, President, McNiff Light IndustryPanelists:
Rashid Abdul, Chief Business Officer, Corporate and Technical Functions, Gamesa Technology Corporation, Inc.
Leif Andersen, Vice President, Sales, Suzlon Wind Energy Corporation
Arnd Hirschberg, Director of Procurement, Siemens Wind Power A/S
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10:30 am - 11:00 am
Break
Sponsored by Suzlon Wind Energy Corporation
Location: Grand Ballroom Foyer
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11:00 am - 12:15 pm
U.S. Wind Finance Debt Structures
Latest Trends and Issues Affecting the Major Debt Structures in U.S. Wind Power
The panel presentation will start with a discussion of a turbine loan structure and examine the current state of the financing market for turbines, including the latest collateral packages and advance rates. The panel will then look at a construction financing with an equity take-out (the partnership flip structure), and then a construction financing with a debt term conversion. Next, the panel will explore how an energy hedge fits into the document structures. For each of these structures, the panel will talk about the latest pricing, equity requirements, debt service coverage ratios, reserve account requirements, special covenants, and other trends and conditions in the marketplace affecting debt financings, such as PTCs, subprime, the current political environment and pending carbon reduction legislation. The panel will also share insights on the latest strategies being used by developers to deal with these issues and otherwise to reduce costs and streamline transactions.
Session Chair will give a presentation, followed by a panel discussion.
Session Chair: George Humphrey, Andrews Kurth LLP
Panelists:
Ed Einowski, Partner, Stoel Rives
Dan Elkort, Director – Renewables Financing and Senior Infrastructure Counsel, North American Infrastructure,
Babcock and Brown LP
Edward Kayukov, Milbank, Tweed , Hadley & McCloy LLP
Christopher Stolarski, Senior Vice President,
Mizuho Corporate Bank, Ltd.
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12:15 pm – 1:45 pm
Lunch
Sponsored by Chadbourne & Parke LLP
Location: Terrace Ballroom and Palm Room on the Lobby Level
NEW Networking Activities: We are offering structured networking opportunities at lunch. There will be multiple break-out groups meeting for informal discussions during this time. You are welcome to join any of the informal discussion groups. Please look for discussion group names on the tables during lunch. We will have the following discussion groups:
- Production Tax Credit
- AWEA Member Services
- Legal Issues
- Financing Wind Projects
- Developing Wind Projects
If you have another discussion group that you would like to suggest, stop by the AWEA member services table on Monday and let us know. The tables are on a first-come, first-served basis.
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1:45 pm – 3:15 pm
Tax Equity Structure and Trends
Tax equity is covering less of the project cost than before because of spiraling cons/truction costs. Higher construction costs are also making it harder than before for tax equity investors to absorb the tax benefits fully because of the way partnership accounting works. Rates are increasing. Some traditional tax equity are running out of tax base. Solar, geothermal and biomass projects are crowding into a tax equity market that used to be dominated by wind, making additional demands on scarce capital. More deals than before have project-level or "back levered" debt, creating new issues. Participants in deals are also having to wrestle with "straddle" concerns where part of a project may not get into service before the deadline to qualify for production tax credits. At the same time, an IRS ruling has opened the door to bring in new tax equity. At least one more prepaid service contract deal is in the market. This panel will be a free-wheeling discussion of these and other developments.
Session Chair will give a presentation, followed by a panel discussion.
Session Chair: Keith Martin, Partner, Project Finance Group,
Chadbourne & Parke LLP
Panelists:
David Berry, Director, Finance,Horizon Wind Energy
Jack Cargas, Managing Director, Bank of America
Clay Coleman, Director Corporate Finance, Iberdrola Renewables
John Eber, Managing Director-Energy Investments,
JPMorgan Capital Corporation
Tim MacDonald, Senior Vice President, Meridian Clean Fuels
Phil Mintun, Managing Director, Capstar Partners Capital
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3:15 pm – 3:45 pm
Break
Sponsored by Suzlon Wind Energy Corporation
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3:45 pm – 4:30 pm
The Exit Strategy
Session Chair will give a presentation, followed by a panel discussion
Session Chair: Vann Gupta, Managing Director, JPMorgan Chase
Panelists:
Jayshree Desai, Chief Financial Officer, Horizon Wind Energy
Lee Stettner, JPMorgan
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4:30 pm - 5:00 pm
Wrap-up Session with Questions & Answers
Program Chairperson: Edward W. Zaelke, Partner,
Chadbourne & Parke LLP
(Program schedule and topics subject to change without notice.)
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