2019 ACCOUNTING WORKSHOP
Wednesday, October 23, 2019
7:30 am – 8:30 am
Registration and Breakfast
8:30 am – 8:45 am
Welcome and Introductions
8:45 am – 9:45 am
Session I: State of the U.S. Market and Long Term Outlook (Wood Mackenzie Power
and
Renewables) for U.S. Solar, Storage and Wind
•
Presentations on the near and long term market outlook for U.S. Renewables
•
Discussion on key renewable trends
•
M&A market outlook
•
Power curves
9:45 am – 11:15 am
Session II: Current and Evolving Landscape of the M&A Market and Key
Financing
Factors to Consider for a Platform and Asset Acquisition
•
Presentation by CohnReznick Capital and Interactive Discussion on
the
following:
o
Current M&A market trends
o
Project, Sponsor and Tax Equity Yields/IRR
o
Tax Equity Landscape
o
How to be more competitive/key differentiators in the M&A process
o
What should buyers consider when acquiring a platform
o
What should buyers consider when acquiring project(s)
o
Bidding Strategies
o
Managing the M&A Process
o
Valuation of platform, projects and pipelines
o
Key risk areas in the acquisition process and how to mitigate
o
Key assumptions when valuing platform and project acquisitions
o
The impact of future power curves on deal execution
o
Presentation on the changing dynamics of renewable energy asset
sell
downs
11:15 am – 11:30 am
Break
11:30 am – 12:00 pm
Session III: Key Legislative and Tax Policy Updates
•
Presentation on important policy decisions and their impact
•
Key federal, state tax and legislative matters
•
Other legislative and industry matters
12:00 pm – 12:30 pm
Session IV: Begun Construction Requirements
Presentation on factors to consider when either safe harboring assets or using
the
physical work test
•
Best practices for safe harboring assets and the mysterious 3 ½ month rule
Risks and pitfalls that buyers should be aware of when acquiring safe harbored
assets
12:30 pm – 1:30 pm
Lunch
1:30 pm – 2:30 pm
Session V: Technical Due Diligence Presentation
•
Presentation by a nationally recognized Independent Engineering Firm on
Key
Factors and Risk Areas to consider when performing Technical Due
Diligence
on the acquisition of renewable energy projects
