Seminar 360 on Renewable Energy Financieren van duurzame energie initiatieven ING Lease (Nederland) B.V. Roderik Wuite - Corporate Asset Specialist -
Agenda I 1. Introductie 2. Financiering van duurzame energie initiatieven binnen ING 3. Levensfase technologie en financieringsvormen 4. Case: financiering van een Warmte Koude Opslag installatie 5. Overzicht belangrijke financieringsaspecten 1
Financiering van duurzame energie initiatieven binnen ING I ING Groenbank groenfinanciering ING Bank ondernemingsfinancieringen bij instellingen en (mid)corporates ING REF duurzaam vastgoed ING Structured Finance non recourse project financiering ING Lease leasen van duurzame energie installaties Focus gebieden: windenergie op land & zee, zonne-energie (PV), WKO 2
Levensfase technologie en financieringsvormen (1) 3
Levensfase technologie en financieringsvormen (2) 4
Case: financiering van een WKO installatie Service provider 2. 5. Leverancier(s) 3. ESCO 1. Gebouweigenaar 6. Huurder(s) 4. 7. Financier 1. Energie Outsourcingsovereenkomst (incl. vastrecht garantie) 2. Aandeelhoudersovereenkomst tussen ESCO en Service Provider (bijv. Installateur), incl. storting EV 3. Levering en constructie van een WKO installatie in opdracht van ESCO 4. Financiering 5. Exploitatie- en onderhoudsovereenkomst (incl. functioneringsgarantie) 6. Huurovereenkomst tussen gebouweigenaar en huurder(s) 7. Energie Leveringscontract voor warmte, koude en warmtapwater 5
Overzicht belangrijke financieringsaspecten (1) I Financierbaarheid: case by case beoordelen. Kwaliteit en betrouwbaarheid van initiërende partij(en) Financiering van object of ondernemingsfinanciering Technologie (bewezen?) Beoordeling van de business case kwalitatief en financiële onderbouwing Juridisch / fiscaal: is het object roerend / onroerend? Financiële analyse: Exploitatie periode Wat bepaald kasstroom? Voorspelbaarheid? Verhouding EV / VV Verhouding rendement en risico? Subsidies en benutten fiscale voordelen (bijv. EIA) 6
Overzicht belangrijke financieringsaspecten (2) I Risico s: Marktrisico s volatiliteit van de kasstromen Operationele risico s O&M partij, contract, etc. Functioneringsrisico (afgedekt door solide partij?) Recourse / non recourse financiering? Contractuele afspraken, o.a.: Koop of bouwcontract Onderhoudscontract Leveringscontract (voor feed-stock / energie) Exploitatiecontract Afnamecontract (bijv. Power Purchase Agreement) 7
I Vragen? 8
Disclaimer This presentation of ING Lease (Nederland) B.V. shall serve solely for the information of its (potential) client (the client ) as a platform for discussion. Copyright and intellectual property right protection of this presentation is reserved to ING. It may therefore not be reproduced, distributed or published by any person for any purpose without the prior express consent of ING Lease (Nederland) B.V. ( ING ). All rights are reserved. While ING has taken reasonable care to ensure that the information contained herein is not untrue or misleading at the time of presentation to the client, ING makes no representation with regard to the accuracy or completeness of the information, part of which was obtained from the client and public sources and relied upon as such. The information contained in this presentation is subject to change without notice. Neither ING nor any of its officers or employees accepts any liability for any loss arising from any use of this presentation or its contents. This presentation does not constitute an agreement or a commitment or an offer to commit to any transaction or any financing by ING. Any such commitment or agreement shall be subject to further negotiation, satisfactory completion of due diligence, ING credit and other approvals, execution of legal documentation acceptable to ING and receipt by ING of positive opinions from legal counsel. ING calls for attention to the fact that it is part of ING Group N.V. ( ING Group ). Members of ING Group may advise or provide services (including investment advice) and act as an active investor in equity shares and other securities. Please be informed that in order to avoid any possible conflicts of interest, investment decisions in securities are taken fully independently by the investment portfolio professionals. ING notes that the responsibility for the preparation of the financial statements of the service company and the client lays at the management of the service company and the client, in consultation with their external auditor. 9