NPM Events: US Development & Finance Forum 2023

  • 15:00

    NPM Introduction

  • 15:05

    Keynote speaker #1

    A renewable executive will discuss how energy transition strategies have been woven into their company's broader renewable growth footprint and some of the lessons learned so far on the journey.

  • 15:25

    Panel #1 - Energy Storage Everywhere

    Larger multinationals, infrastructure & energy transition funds made major investments in battery storage developers in 2022. Simultaneously, the space continues to face supply chain and inflationary challenges keeping pricing relatively high. The August 2022 passage of the Inflation Reduction Act (IRA2022) brought some relief with the introduction of a standalone storage ITC for the first time.  

    Panelists will discuss: 

    • Major challenges and hurdles to making standalone storage a lower-cost, scalable business on par with solar and wind 

    • How the standalone tax credit will accelerate development of storage systems 

    • Supply chain challenges and solutions for BESS developers  

    • Trends in contracted and merchant revenue streams  

  • 16:25

    Panel #2 - Green Hydrogen’s Climb to Commercialization

    The next generation of carbon free energy started to take shape in 2022, as major IPPs made competing announcements highlighting specific utility-scale green hydrogen projects now in their pipelines. For renewable developers, the appeal of adding green hydrogen to their growing list of capabilities could lead to expansion opportunities beyond grid constraints. The process is now becoming more affordable thanks to the passage of the IRA2022, which bolstered tax credits available for developers. However, the industry remains in the early innings, costs are still high, and the commercial case still up for debate.  

    Panelists will discuss: 

    • The evolution of project financing schemes for green hydrogen before and after the IRA 

    • Key considerations today for green hydrogen project development 

    • The growing commercial cases for green hydrogen projects

  • 17:30

    Networking Drinks

  • 09:00

    NPM Data Presentation

  • 09:05

    Keynote Speaker #2 - Solar equipment manufacturer

    An executive at an OEM manufacturer will look at the trials and tribulations of building up US supply chains, given today’s challenges of importing solar panels from overseas.  

    The executive will address: 

    • Challenges to building solar panels and turbines in the US today currently 

    • IRA2022’s impact on supply chain growth  

    • Developers roles in the supply chain buildout

  • 09:25

    Panel #3 - Solving the Interconnection Logjam and Supply Chain Crisis

    With the IRA2022 signed into law, developers now have a cornerstone of tax credit certainty, but the industry still faces obstacles. Navigating higher capex requirements, labor shortages and rising interest rates are becoming increasingly challenging when added to the already daunting headwinds created by interconnection and supply chain pressures. The slow and uncertain pace of queues have elongated approval and project timelines for developers and their partners; a trend which even caused PJM to suspend new interconnection applications for a two-year period in 2022 just to work through their backlog.  

    Panelists will discuss: 

    • Impact of FERC’s NOPR filing on the interconnection logjam 

    • Clustering study being conducted in PJM and MISO  

    • Supply chain issues impacting project development  

    • IRA2022 impact on domestic supply chain build-up

  • 10:30

    Coffee Break

  • 11:00

    Keynote Speaker #3 - Origination

    A market expert will address the state of the market for PPA trends & pricing

  • 11:15

    Panel #4 - Origination for the next wave of renewable projects

    The combined storm of supply chain challenges coupled with interconnection delays extending project lifecycles led to a series of renegotiations of PPA agreements in 2022, from legacy PPAs in Massachusetts for offshore wind, solar + storage projects in California and solar + wind projects in emerging jurisdictions like Hawaii.  

    Panelists will discuss: 

    • The evolving structure of newer PPAs and its influence on the recent renegotiations of older PPAs 

    • Utility and corporate offtaker’s ability to compromise given the higher pricing environment 

    • Virtual power purchase agreements (VPPAs) and how they compare to traditional PPAs 

    • Other contracted and non-contracted structures that origination teams are exploring

  • 12:30

    Lunch/Speed Networking

  • 14:00

    Panel #5 - Inflation and IRA2022 impacts on project finance

    The IRA2022 reinstated the ITC/PTC over a 10-year runway, while introducing several adder and transferability provisions which will essentially shift the capital stack for these projects. At the same time, the project finance community has been introduced to a new index in 2022 (SOFR) and is also facing the reality that inflation may not make bank finance as cheap and efficient to source as it used to be. The tax equity market is also coming under increasing scrutiny as market participants question how its capacity can be bolstered to meet the goals embodied in the IRA.  

    Panelists will discuss: 

    • Inflationary impacts on project finance 

    • The impact transferability of tax credits and direct pay will have on financing renewable projects  

    • Other clean energy verticals that will benefit from the IRA2022

  • 15:00

    Coffee Break

  • 15:30

    Keynote speaker #4

    A C-Suite executive at a firm under fund ownership or an investor in a platform will give their nuanced view on how advantages inherent in their model has impacted the business strategy of the renewable developer that they are either leading or invested in.

  • 15:50

    Panel #6 - Capital Raising & Deployment

    Developers have been spoiled for choice when it comes to options to grow their pipelines. M&A of projects and platforms returned with vengeance once the dust settled on the IRA2022, and  founder-owners continued to tap into strategic and patient capital via equity or joint venture investments. With elevated inflation continuing as a backdrop, industry experts look at optimal strategies for developers to grow their business and what trends are emerging.  

    Panelists will discuss:  

    • Advantages and hurdles in different ownership structures 

    • M&A trends in 2023  

    • Diversification strategies for the different types of energy producers 

    • IRA2022 impacts on these issues

  • 17:00

    Networking Drinks