Rushlight Events

UK Wind Energy Update

Wednesday 22 March 2017

5.30pm – 9.00pm

Hosted by  

S&W logo 2015_marsala grey_RGB

25 Moorgate, London EC2R 6AY

With headlines like:

“Wind farms across the UK generated more electricity in 2016 than coal power plants for the first time, according to an analyst’s estimates”;

Wind energy accounted for 51 per cent of all new EU power installations in 2016;

Offshore wind farms could provide cheaper power than Britain’s new wave of nuclear power stations;

we take a look at UK onshore and offshore wind power to see how it is competing with fossil fuels based on a levelised cost of energy, how it has evolved compared with other renewable energy sources, where the improvements have been found and the potential still exists for further improvements during both the build phase and in O&M.

From a financing perspective, wind farms have evolved considerably.  Onshore wind farms were quickly standardised and the project financing packages became commoditised.  Offshore wind farms were seen as much higher risk and it has taken longer for project financing margins to become tighter, but competition and an improved risk profile has resulted in keener pricing.

We are now seeing wind farm portfolios changing hands, which is ideal for the industry.  The developer can take the risk he is used to managing and then sell the completed project on to primary investors who can then bundle a group of assets together and sell on again to a secondary investor who is looking for scale and an attractive yield from a reliable asset portfolio.

With increased demand for electricity likely to develop from the switch to electric vehicles from petrol and diesel, the demand for electricity is expected to triple at least, meaning that there is still plenty of capacity left in the UK for wind power to develop further, bringing incremental project costs down and thereby obviating the need for any major central funding or support as grid parity is reached.

The technological developments in energy storage which will be needed to provide a reliable power system whatever the generation make-up will also further encourage wind power investments.  Any expansion of the hydrogen economy will see a larger role for wind power too.

This seminar will take a close look at where wind power has reached technologically, financially, economically and practically, and what further potential lies ahead for new projects and existing operating assets.

This event will be ideal for wind farm developers, technology providers, O&M service providers, investors, financiers, renewable energy consultants, district energy specialists, advisers, onshore and offshore wind supply chain, government departments and others interested or involved in UK wind power.

Agenda

5.30pm Registration

6.00pm Welcome – Andrew Bond, Smith & Williamson

6.10pm Introduction – Clive Hall, Rushlight Events

6.15pm Wind Energy Update – Maf Smith, Deputy Chief Executive, RenewableUK.  His presentation is HERE

6.40pm Regulation and Electricity Market Dynamics –  Colin Morgan, Partner Everoze.  His presentation is HERE

7.00pm Financing wind energy projects – Fernando Dominguez, VP Project and Acquisition Finance Santander Global Corporate Banking.  His presentation is HERE

7.20pm Panel, augmented by

Ray Thompson, Head of Business Development, Siemens Wind Power

Charlie Hodges, Director, Augusta & Co

John Puddephatt, Business Development Manager, Statkraft

8.15pm Networking

9.30pm Close

Who should attend?

This briefing is relevant for anyone who is interested or involved in any aspect of energy and power generation. In particular, attendees will have an interest in the UK wind sector, such as wind farm developers; technology providers; O&M service providers; investors; financiers; renewable energy consultants; district energy specialists; advisers; onshore and offshore wind supply chain; government departments; local authorities; sustainability consultants; analysts; media; intermediaries; other supply chain participants or UK energy sector and industry followers.

Register

To register for this event click HERE

Speakers

Colin Morgan – Everoze

Colin has worked in the power industry since 1987, is a Chartered Engineer and the founder of Everoze Partners, a specialist clean energy engineering consultancy.  He previously worked for DNV GL (formerly Garrad Hassan) where he led the renewables team covering their Western Europe, African and Latin American regions. He has also, since 2013 been a non-executive director of Thrive Renewables PLC who own and operate a portfolio of renewable projects with several thousand retail shareholders.  Through his career his technical work has spanned the onshore wind, offshore wind, solar and more recently battery storage and flexibility technologies.  His non-management experience has included: wind turbine design and analysis; energy resource assessment; technical due diligence of projects for lenders and investors; field inspections; policy and strategy advice; and, construction management.  He has sat on various industry bodies including, in the past, the Renewable UK Offshore Wind Strategy Group, Offshore Wind Delivery Group, EU Thematic Platform Member, DTI Technology Programme Assessor and he chaired the Renewable UK Onshore Wind Cost Reduction Taskforce.

Maf Smith – RenewableUK

Maf Smith is the Deputy Chief Executive of RenewableUK – the trade and professional body for the UK wind and marine renewables industries. Formed in 1978, and with 400 corporate members, RenewableUK is the leading renewable energy trade association in the UK.  Prior to joining RenewableUK he worked at grid and regulatory consultancy Xero Energy, and for much of this time was seconded to the Department of Energy and Climate Change to work on Electricity Market Reform. Between 2006 and 2011, he worked as Deputy Chief Executive and Director of Scotland for the Sustainable Development Commission, acting as advisor and scrutiny body to the Scottish Government. Between 2002 and 2006 Maf was Chief Executive of Scottish Renewables.

Fernando Dominguez – Santander

Fernando Dominguez de Posada is Senior Vice President in the Santander UK Project and Acquisition Finance team. Fernando has been part of Santander Front Office team since 2008 where he has been involved in the structuring and execution of Energy, Water, Waste and Oil & Gas PF/AF Projects as well as a number of asset finance transactions throughout the UK, Europe and Australia.  He accumulates 10 years of experience in the PF/AF market and has been deeply active in the financing of renewable energy projects in the UK where he has executed and led onshore and offshore wind projects in excess of 1.5GW capacity during the last years.  He holds a M.Eng in Industrial Engineering and an Executive Master in Business Administration by the London Business School.

Ray Thompson – Siemens

Ray Thompson is Head of Business Development for Siemens Wind Power in the UK. This varied role includes a wide range of business development, stakeholder engagement activities and supporting the development of UK supply chain content.  With over 30 years experience in the engineering and energy sectors, Ray has worked in transmission & distribution, fossil generation and renewables in both public and private sectors roles.

Charlie Hodges – Augusta & Co

Charlie has spent nine years working in renewable energy and joined Augusta & Co in January 2011 having spent three years as a senior wind analyst at Bloomberg New Energy Finance in London. At BNEF Charlie was responsible for the company’s offshore wind research and managed several consulting projects for utility, oil and financial clients.  At Augusta Charlie has a leading role in executing M&A and capital raising transactions for a wide variety of investors across a range of different markets and technologies including onshore and offshore wind, solar PV as well as the supply chain.  Charlie graduated from the London School of Economics in 2007 where he completed his BSc. (Honours) in Environmental Economics.