It is often an important milestone: financial close. The moment when financing for the project becomes available and construction can (finally!) begin. Reaching that milestone requires considerable team-effort: all contracts, permits and implementation plans must be in place. Meanwhile, the terms of financing from the bank(s), investment funds and/or other capital providers are being negotiated. And, of course, public participation, which has become indispensable in renewable energy projects. With pleasure and enthusiasm, we accompany these intensive processes to organize financing for the project at the best conditions.
During development, the financial targets are often set on obtaining a bank loan. However, there is another step before that: organizing equity. The financing process therefore begins with determining the ideal capital structure: a puzzle in which all the wishes, requirements and conditions of the various investors must fit together. A puzzle that energizes us!
Project financing relies on strong and sound contracts. In addition to commercial agreements, contracts contain all kinds of security in favour of the financiers. We read the contracts from the bank’s point of view and use the financial model to help negotiate the commercial terms. This is good for the financability of the contracts and interesting for us as we learn about the technology.
Not everyone likes working with spreadsheets, but we love them. All aspects of project development come together in a financial model. We use the model not only to provide insight for shareholders, but also to help negotiate contracts and provide analysis for reporting to banks. Because financial projections are based on commercial agreements, the mathematical model is central to the entire development team.
It happens five times a year: the opening of the SDE. This is the moment when the Rijksdienst voor Ondernemend Nederland (RVO) checks the (financial) feasibility of projects applying for subsidies. To do this, it must be shown that the necessary permits have been obtained, that a site is available and that a feasibility study has been submitted. This is a test that we know how to pass successfully, and we are more than happy to put our experience to good use for your project.
Nowadays it is almost impossible to imagine a project that does not involve public participation. Public participation can take the form of a project’s financial contribution to a community fund or discounts on energy bills, but it can also involve direct ownership of the project company. The AFM and DNB have established stringent guidelines for this. Thanks to our expertise, we know the limits and possibilities for both regulators and financiers. With this knowledge, we hope to inspire many more citizens and developers to co-invest in the energy transition together.
The technical life of wind turbines has been extended somewhat in recent years. But that doesn’t mean that shareholders want to stay with the project forever. Wind farms regularly change hands, sometimes before construction, sometimes after. Either way, when it comes to selling or acquiring a stake in these projects, our skills come in handy in these transactions.
We have a specialised profession, and our expertise comes in useful in a number of areas. Not only do we help developers get their projects off the ground. We are also called upon to shine a light on behalf of third parties. Think of a government that wants to co-invest, that wants to shape policy, or that wants to form an evaluation committee for a tender. We are happy to take on a wide range of expert roles because we are eager to share our knowledge with others. That too helps to change the energy landscape!
We provide specialist bid writing support to help our clients create compelling offshore energy bids that align with their strategies and strengths and that match the strategic criteria of tenders. To create viable and optimal financing structures and ensure bankability, we can help you write winning bids and evaluate offshore financing plans.
Check out the projects we worked on or contact us.