mergers & acquisitions project finance strategic advisory · developpement stage ... centrale...
TRANSCRIPT
Strategic Advisory
Project Finance
Mergers & Acquisitions
OUR VISION
FOSTER THE ENERGY TRANSITIONAND PROMOTE
GREEN INVESTMENTS
SOLAR WIND BIOMASSHYDROENERGY EFFICIENCY
FINERGREEN|NEW ENERGY FINANCIAL ADVISORS
PRESENCE ACROSS THREE CONTINENTS THROUGH OFFICES IN
PARIS, ABIDJAN, DUBAÏ AND SINGAPORE
3
OUR INTERNATIONAL OUTREACH
2013 2016 2017
FINERGREEN32 rue de Paradis
75010 ParisFrance
FINERGREEN AFRICA2 Plateaux, Rue des Jardins
Cocody, Abidjan Ivory Coast
FINERGREEN ASIA541 Orchard Road #09-01 Liat Towers Singapore 238881
1 306PLANTS
FINANCED PROJECTS
520MW
TOTAL CAPACITY
800M€
COMPLETED TRANSACTIONS
2018
FINERGREEN MENAP.O. Box 931 033
Dubai - UAE
FINERGREEN|NEW ENERGY FINANCIAL ADVISORS
OUR MISSIONWE ARE A TEAM DEDICATED TO FINANCING THE ENERGY TRANSITION. THANKS TO A UNIQUE POSITIONING IN THE
MARKET, WE OFFER A TRIPLE EXPERTISE TO SUPPORT OUR CLIENTS.
PROJECT FINANCEA renewable energy project is highly capital intensive. Its financing requires the establishment of long term finance agreements with banking institutions. FINERGREEN has deep expertise in such contracts, which enables us to determine the most suitable legal and financial structure for each of these
transactions..
MERGERS & ACQUISITIONS
FINERGREEN is a specialist in the bid management of
acquisition processes , both for buy-side and sell-side transactions. Our project
team (either on greenfield or brownfield assets) also
operates on equity financing operations, which are key steps in the growth
journey of companies operating in this sector.
STRATEGIC ADVISORYWhether public or private, clients who make the energy transition happen are constantly evolving.
We help these clients adapt to market changes, which often requires changing their business models.Additionaly, we also execute high value-added missions such as independent valuations, financial audits,
etc
Project Finance
Mergers & Acquisitions
Strategic Advisory
4
FINERGREEN|NEW ENERGY FINANCIAL ADVISORS
MERGERS & ACQUISITIONS
EQUITYEquity injection through share acquisition or capitalincrease is the usual way to acquire or finance anasset.
QUASI-EQUITYQuasi-Equity (shareholder loan agreements,convertible bonds) is very useful to optimize thelegal and financial structure of transactions in thesector of renewable energy.
TOOLS
ASSET ACQUISITION-DISPOSALOur extensive network of local and international investors, coupledwith our marketing tools and our rigourous tender processmanagement, allows us to obtain the best financial conditions bothfor asset acquisition and disposal.
EQUITY PARTICIPATIONSuccessfully integrating new shareholders -whether industrials or financiers, private orpublic - is strategically key for thecompany. We therefore provide amplesupport for such operations at 3 levels:strategic, financial and legal. MISSIONS
WE TAKE AN ACTIVE PART IN BRINGING TOGETHER THOSE WHO MAKE THE ENERGY TRANSITION HAPPEN BY
DESIGNING THE MOST ADEQUATE LEGAL AND FINANCIAL STRUCTURATION FOR THE TRANSACTIONS.
CREATION OF JOINT VENTUREAs energy transition experts, we are ableto create a joint venture that will bebeneficial to the development of ourclients into new markets (geographicalexpansion, business diversification, etc.)
5
FINERGREEN|NEW ENERGY FINANCIAL ADVISORS
A FEW REFERENCES IN MERGERS & ACQUISITIONS
6
AIR Project France
1,5 MWpSupport for the transfer of a solar
parking shade in Provence - Alpes -Côte d’Azur region
May 2017
ZENITH ProjectFrance
Corporate fundraising for a French solar developer from
institutional investors
October 2017
ROL Project Italy
2 MWBuyer's advice for the acquisition
of a ground power station for € 1.5 million
July 2018
MIKADO ProjectFrance
1,3 MWSupport for the sale of a portfolio of six rooftop solar power plants
October 2017
ARALIA II ProjectFrance9 MWp
Accompanying the sale of a solar shade in France
July 2018
KIL ProjectCameroon
Corporate fundraising with impact investors and crowdfunding
platforms
July 2017
NOPYCA ProjectSoutheast Asia
2,5 MWpSeries A financing for a microgrid
solutions company, financial modelling, investor consultation
August 2018
Projet HALOFrance
12 MWcSupport for the sale of a solar
power plant and its under development expansion
March 2018
CANELÉ ProjectFrance
Corporate fundraising for a designer and developer of an
innovative PV panel of 1.5 M €
July 2018
AGRISUN Project Italy
1,6 MWpAdvising the purchaser in the
acquisition of a solar power plant
January 2018
GAZVERT Project Germany
1 400 nm3/hDivestment of two biogas units
financed by German banks for € 13 million
February 2017
HIRONDELLE Project France
10 MWpSupport in the sale of a 35 rooftop
solar power plants portfolio
December 2015
MENHIR ProjectFrance
2,25 MWpSale of a portfolio of ground-
mounted and rooftop solar PV plants.
September 2018
POIRE Project France 5 MWp
Support in the acquisition of a ground-mounted solar power plant
in France for € 9 million
June 2015
TOURNESOL Project France54 MW
Sale of a 13 solar projects pipe under development at various stages of progress in France
December 2017
FINERGREEN|NEW ENERGY FINANCIAL ADVISORS
MEZZANINE DEBTPutting in place a subordinated debt is more and morecommon in the renewable energy sector. We havedeveloped a fine knowledge of the inner workings ofcrowdfunding platforms and dedicated investment funds,tools and instruments that require specific expertise.
SENIOR DEBT FINANCINGBank loans are the major source of financing forrenewable energy projects, and the terms andconditions obtained are key drivers behind a project’ssuccess. Thanks to our financial engineering expertiseand our in-depth knowledge of banking process andinstitutions, we are experts at securing bank financingat the best conditions.
PROJECT FINANCE
7
GRANTS Financing the development phase, ahead of constructionphase, is critical for renewable energy actors, in particularwhen working on international development. With this inmind, we developed a specific expertise in identifying and
obtaining grants for the renewable energy sector..
DEVELOPPEMENT STAGE – GREENFIELDAs soon as a renewable energy project gets therequired permits for the construction, our team isable to start the process of obtaining externalfinancing by reaching out to our broad network ofpartners. MISSIONS
EXPLOITATION STAGE - BROWNFIELDWhen an asset has been in operation for a longtime, many risks are no longer relevant, such as theconstruction risk. New financing can thereforegenerally be put in place with better conditionsthan the initial financing..
WE SECURE THE MOST APPROPRIATE CAPITAL STRUCTURE SCHEMES TO ENABLE THE COMPLETION OF
RENEWABLE ENERGY PROJECTS
EQUITYThe financing of any project finance requires afinancial contribution from the sponsor. As thereference shareholder, their presence is key toguaranteeing the success of a renewable energyproject. It is therefore a strategic choice that needsto be made after a clear and rigourous selectionprocess. TOOLS
FINERGREEN|NEW ENERGY FINANCIAL ADVISORS
A FEW REFERENCES IN PROJECT FINANCE
8
ARALIA ProjectFrance9 MWp
Refinancing of an agricultural solar shelter for € 36 million from a
French banks pool
July 2016
CORAL ProjectFrance
10,7 MWpRefinancing of 63 rooftop solar
power plants for € 56 million
September 2018
€ 26 million capital increase for a farmer organization
December 2017
AGRIMAINE Project France
3,6 MW
SPHINX Project France34 MW
Refinancing of a portfolio of 86 rooftop solar power for a raised
amount of € 100 million
November 2017
JONAS ProjectFrance
11 MWpFinancing and support for the sale
of a portfolio of solar rooftop power plants
June 2017
SEXTANT Project France40 MW
Bank refinancing of operational and construction projects for an
amount of € 66 million debt raised
February 2017
TITAN ProjectFrance7 MWp
Financing and sale of a 48 rooftop solar power plants located in
France
August 2014
OMEGA Project France
320 Nm3/hSupport for the sale of an anaerobic digestion unit in Nouvelle-Aquitaine
region
February 2017
K2000 Project France3 MWp
Financing of a solar roof portfolio in France for € 4 M
July 2018
MERCURE Project France
10 MWpBank refinancing of a portfolio of
29 roof plants for € 45 million
April 2018
ARTEMIS Project France
30 MWpBank refinancing of 3 ground-
based power plants in France for € 80 million
March 2018
MBAKAOU ProjectCameroon
1,4 MW + mini gridSupport for the bank debt
fundraising
January 2017
AVENIR Project France
11 MWpLifting of short-term debt for financing the construction of
power plants
March 2017
JUPITER Project France7 MWp
Bank refinancing for € 15 million of a solar farmhouses portfolio
February 2017
PEAK ProjectFrance9 MWp
Financing and sale of a 76 rooftop solar power plants portfolio
located in France
December 2014
FINERGREEN|NEW ENERGY FINANCIAL ADVISORS
STRATEGIC ADVISORY
9
DUE DILIGENCE REVIEW• Solar yield analysis• Technical study• Legal and Tax audit• Financial model audit• Commercial audit
CONTRACTS NEGOCIATION• Loan Agreement• Share Purchase Agreements• Shareholder Agreements• EPC, O&M contracts
VALUATION• Asset and portfolio valuation• Corporate valuations • Acquisition target valuations• Valuation of projects under development
MARKET STUDY• Top-down analysis• Regulatory framework analyses• Benchmarking• Barrier to entry studies
OUR POSITIONING AS ADVISOR ENABLES US TO KEEP UP-TO-DATE KNOWLEDGE OF THE LOCAL MARKET CONDITIONS AND
STANDARD CONTRACTUAL PRACTICES, THAT WE OFFER OUR CLIENTS.
TOOLS
MODELLINGThanks to our robust modelling skills and to our fineexperience of renewable energies we are able toprovide very precise custom tools to assist our clientsin their decision-making process
MARKET STUDYOur unique perspective on the market, on itspractices and on its key indicators, allow us totackle any strategic issue with a broad vision andthe required acuity.
MISSIONS
FINERGREEN|NEW ENERGY FINANCIAL ADVISORS
A FEW REFERENCES IN STRATEGIC ADVISORY
10
TRANSLATION ProjectFrance
37 MWpMarket study and creation of a
€ 100-150 million renewable investment fund
December 2016
TUNIZ ProjectTunisia
Formation of Tunisian banks to finance renewable
energy projects
June 2018
ALPHA ProjectFrance
300 MWIndependent valuation of a
portfolio of renewable assets in operation and in development
May 2018
PERER ProjectMadagascar
376 MW
Financial advice in the deployment of 4 hydraulic
power plants
August 2018
ATLAS ProjectFrance
Solar PV markets analysis in 7 European countries, identified as
potential development targets
July 2018
REEF ProjectSenegal
Study of deployment of a € 200M renewable energy debt fund in
Senegal
September 2017
STEEP ProjectFrance
60 MWpFinancial and commercial due
diligence on a portfolio of solar power plants
October 2016
AQUILON ProjectFrance
400 MWEvaluation of strategic interest in the acquisition of a wind power
pipeline
September 2017
MONT ProjectFrance
Sectorial market analysis for financing the biomethane sector
in France
March 2018
KENIE ProjectMali
42 MWAudit and international standards
definition for a hydraulic dam financial model
April 2017
ICON ProjectFrance52 MW
Modelling and commercial due diligence mission for a portfolio of
wind power assets
June 2017
GAMA ProjectFrance
150 MWIndependent valuation of a
portfolio of renewable assets in operation and in development
September 2017
BETA ProjectFrance
30 MWpIndependent valuation of a solar assets portfolio in operation for
sale
April 2017
FEVE ProjectChine
Valorisation of plantations fighting against soil degradation
March 2017
POSEIDON ProjectChili
34 MWValuation and sale of a portfolio of hydropower plants in development
November 2017
FINERGREEN|NEW ENERGY FINANCIAL ADVISORS
TEAM FRANCE
Arthur OMONTSenior Analyst
McGill - HEC Paris UBS Londres - ATEC ITS
Marie-Madeleine SABOLYAssociate
HEC - AgroParisTech - IFPSMBC - Le Duff
Pierre-Louis DELONAnalyst
Centrale Lyon - IFPEngie - Technip - Accenture
Charles DELIENNESenior AnalystESTP - MS ESSEC
KPMG - Véolia - Solaire Direct
Ricardo CASTELLO BRANCOSenior Analyst
Ponts et ChausséesAES Brasil - BNP Paribas - VINCI
Louis CATALAManager
Audencia - Centrale NantesBureau d’étude efficacité
énergétique
Matthieu KUZDZALAssociate
Sciences Po Paris GDF Suez Energie Services
Théo BARALLONManager
HEC Entrepreneurs - INSA LyonCrédit Agricole - Airbus - URGO
Cyril KATCHOURINEAssociate
Master 129 - Paris DauphineGreenWish Partners - Valorem
Emma d’HUMIERESAnalyst
ESCP EuropeSaint-Gobain - Spear
Damien RICORDEAU Founder & CEO
Master 225 - Paris DauphineGroupe Edmond de Rothschild
Amélie BEAUJARDOffice Manager
Sciences Po Paris - UCPMicroprojets.org - ECFR
Preety NADARASAPILLAYCommunication Manager
Marne la Vallée UniversityAFB – Climate Economics Chair
Mylène JUNIUSLegal Officer
Centre du Commerce Extérieur ToursEngie - Vinci - Veolia/CDC
FINERGREEN|NEW ENERGY FINANCIAL ADVISORS 12
TEAM AFRICA TEAM ASIA TEAM MENA
Jean-Jacques NGONOManaging Partner
Master 225 - Paris DauphineECP - Oppenheimer & Son - FSI
Rohan SINGHManaging Partner
Master 225 - Paris DauphineAuriverde - BMCE -Société Générale
Jade RELMYSenior Analyst
HEC - La SorbonneOrrick - Herrington & Sutcliffe
Caroline BOONEAsociate
ESSEC Business SchoolProparco - I&P
Florian CAMMASAssociate
Audencia - Mines d’AlèsEtablissement Thermal - BETOM
Léon ALLAMANDSenior Analyst
Centrale Lyon - Lyon 3Mazars - Sevea Consulting
Antoine POUSSARDManaging Partner
Paris Dauphine - Mines Paris Tech - ESTPCommercial Bank of Dubaï - RBS - Dexia
Tarik JAWICHAnalyst
Master 212 - Paris Dauphine Natixis - Proparco - Suez
Jean-Marie CUNINAnalystAudencia
RGreen Invest – Société Générale
Guillaume GABARREAnalyst
CentraleSupelecGreenyellow
Jeremiah PHOONAnalyst
Sciences Po Paris - ESSECDFS Group
Larissa SAOUREOffice Manager
Master - EDHEC AbidjanBIOPHARI
Tidiane CAMARALegal Counsel
Ecole du Barreau de ParisDLA Piper – Kéolis
Raka SARKARAnalyst
ESCP EuropeSchneider Electric - Akuo Energy
FINERGREEN|NEW ENERGY FINANCIAL ADVISORS
OUR PARTNERS
INSTITUTIONAL PARTNERS
PROFESSIONAL ORGANIZATIONS
TRAINING ORGANISMS
FINERGREEN ACTIVELY PARTICIPATES IN THE STRUCTURATION OF THE RENEWABLE ENERGY SECTOR, BOTH IN FRANCE AND OVERSEAS THANKS TO ITS ROLE OF TRAINER AND ADVISOR
13
FINERGREEN|NEW ENERGY FINANCIAL ADVISORS
OUR HUMANITARIAN ACTIONS
31PROJECTS
FUNDED PROJECTS
18COUNTRIES
GEOGRAPHY
350K€
FUNDS
14
VIETNAM
Biogas units for a smallfarming community
AFGHANISTAN
Lighting of four girls’schoolswith solar energy
Bricks manufacture from peanutsheels for housing
SENEGALPEROU
Solar electrification of a shelter for homeless kids
Damien RICORDEAU
Amélie BEAUJARD
Preety NADARASAPILLAY
Mylène JUNIUS
Théo BARALLON
Louis CATALA
Marie-Madeleine SABOLY
Matthieu KUZDZAL
Cyril KATCHOURINE
Charles DELIENNE
Ricardo CASTELLO-BRANCO
Arthur OMONT
Pierre Louis DELON
Emma d’HUMIERES
+33 (0)6 35 50 62 84
+33 (0)6 66 96 42 26
+33 (0)6 32 83 25 05
+ 33 (0)6 12 31 33 01
+33 (0)6 75 98 05 80
+33 (0)6 79 76 49 32
+33 (0)6 59 85 95 79
+33 (0)7 83 31 63 89
+33(0)6 47 71 73 96
+33 (0)6 77 01 68 96
+33 (0)7 68 05 45 79
+33 (0)7 81 34 61 40
+33 (0)6 87 79 66 95
+33(0)6 01 96 92 46
Jean-Jacques NGONO
Larissa SAOURE
Tidiane CAMARA
Caroline BOONE
Florian CAMMAS
Jean-Marie CUNIN
Guillaume GABARRE
+225 49 73 02 00
+225 68 35 03 30
+225 78 43 79 77
+225 59 89 24 67
+225 89 92 60 43
+225 89 92 60 43
+225 49 07 96 68
Rohan SINGH
Leon ALLAMAND
Jade RELMY
Jeremiah PHOON
+65 8752 7868 / +33 (0)7 87 77 76 22
+65 8750 6287 / +33 (0)6 71 48 00 48
+65 8750 3403
+65 9476 8893
Antoine POUSSARD
Tarik JAWICH
Raka SARKAR
+971 50 774 8042
+33 (0)6 52 82 84 82
+971 55 614 7680
ASIA
AFRICAFRANCE
MENA
www.finergreen.com