THE

RENEWABLE
ENERGY
MINI-MBA
17 - 21 September 2018
LONDON

ACADEMY
Gain a comprehensive understanding of competitive dynamics, market
environments, project risk factors and integration challenges
during the large-scale transition to renewable power.

COURSE WHO SHOULD

OVERVIEW
ACADEMYACADEMY ATTEND
ACADEMYACADEMY
The course is designed to provide clear,
• Power Generators (Utilities and IPPs)
independent and business-focused guidance on
• Renewable Energy Project Developers
market opportunity and risk to those deploying,
• Transmission/Distribution System Operators
investing in or regulating renewable power
• Renewable & Conventional Power Generation, T&D and
projects. It is presented in language suited to non-
Electricity Storage Technology Vendors
engineering commercial executives and investors,
• Power Sector EPC Contractors
so no prior knowledge is assumed or required.
• Conventional Fuel Companies (Oil & Gas, Coal)
• Commercial Services Suppliers (Law, Insurance etc.)
Presented throughout in an interactive and
• Investors, including Commercial and Development banks,
market-focused way, the course will connect
Venture Capital and Private Equity
the multi-faceted and multi-scale factors that
• Policymakers, Policy Advisors and NGOS
must align in order that renewable power scale
• Large Energy Users
up and integrate, from the market and system
• Market Analysts & Consultants
environment to the project business cases, risks
and returns.
 THE The course exceed all my expectations.
RENEWABLE The trainer demonstrated extensive
knowledge as well - excellent!
ENERGY
MINI-MBA FORZA GLOBAL SOLUTIONS S.A DE CV, CEO

THE
BENEFITS
ACADEMYACADEMY
• Understand the key market and business
environment requirements for the sustained
growth of renewable power

• Examine the development process, investment

requirements and economic risks and returns
for renewable power projects

• Review current and emerging solutions to

large-scale renewable power integration

• Develop an integrated approach to combining

financial, technological and socioeconomic
factors in renewable power market analysis
THE
TAKEAWAYS
ACADEMYACADEMY
PAST
• BE BETTER EQUIPPED to converse with ACADEMY
CUSTOMERS
project partners, suppliers or investors

• KNOW WHAT TO LOOK FOR when

evaluating long-term, sustainable
renewable power market opportunities

• BE BETTER ABLE TO IDENTIFY KEY

INVESTMENT, project development and
policy risks

• KNOW HOW TO IDENTIFY,

analyse and critique competing
MARKET SOLUTIONS
AGENDA

OVERVIEW
ACADEMYACADEMY
Over five days, this course leads attendees through the key aspects of the renewable power
business: from variables impacting the success (or failure) of individual projects, to the
wider electricity market context and trends, to the integration and wider impacts of large
amounts of renewable energy in transitioned energy markets. It highlights a market analysis
approach that recognises that sustainable growth of the renewable power business requires balancing multiple, interconnected
(and potentially conflicting) requirements including market fit, reliable service, investor returns and public/political acceptance.

The agenda will combine presented materials, plenty of opportunity for Q&A, interactive discussions, quantitative models and
group exercises designed to illustrate and put into practice the main learning points.

ACADEMY
DAY1 ACADEMY
DAY 2 ACADEMY
DAY 3 ACADEMY
ACADEMY
DAY 4 DAY 5

• Business Case • Project Phases & • The power • Renewables & the • Transport and Heat
Variables Key Contracts generation supply Grid Electrification
matrix
• Attracting • Policy Supports & • Electricity Storage & • Socioeconomic
Investment (& Risks • Power supply Alternatives Influencers
financing costs) flexibility and
• TASK: power project security • TASK: power mix • TASK: Transition
• Renewable energy economics compared pathways Planning & Risks
resources & Risks • Technology trends:
• TASK: policy & Solar & Wind • TASK: power shift • TASK: Transition
• Understanding competitive bidding outcomes Pathways Compared
Costs, Values & • Technology trends:
Prices Hydro, Biomass &
Geothermal
ACADEMY
DAY AGENDA
TO DAY ACADEMY

ACADEMY
1-
DAY THE BUSINESS CASE ACADEMY
DAY 2 - BUILDING PROJECTS

1) RENEWABLE POWER BUSINESS CASE VARIABLES: 1) PROJECT PHASES & KEY CONTRACTS
• The Economics of a renewable power project: the key variables & metrics. • Development, Construction & Operations: typical timelines, processes and
• Introducing a simple project finance cash analysis model (provided). risks for different renewables.
• Present vs. future costs: contrasting different renewable (and conventional) • Requirements for bankability and financial close: key licenses, registrations
examples. and contracts.
• Key aspects of investment risk, including internal and external risk factors. • Power Purchase Agreements (PPA): example off-takers, requirements and
compliance risks.
2) ATTRACTING INVESTMENT (& THE COSTS OF FINANCE) • Environmental Impact Assessments: typical requirements and potential pitfalls.
• Sources of finance: who is providing the investment and what do they expect? • EPC, O&M and other key contracts
(understanding their risk/return perspective)
• Analysing the impact of financing structure and cost on project returns and 2) REGULATORY IMPACTS & POLICY RISKS
energy prices. • The role of the regulatory environment in project economics and the relative
• Comparing the sensitivity of project economics to financing costs vs. competitiveness of different power projects.
technology costs (and other factors). • Key policy mechanisms to influence: energy prices (tariffs), additional revenue
• How can both project developers and policymakers help lower investment streams (e.g. energy or capacity credits), project costs (e.g. tax credits and
risks (and hence financing costs)? costs), financing risk.
• The importance of policy mechanisms to reduce revenue certainty and market
3) RESOURCE RISK IN RENEWABLE ENERGY availability risks (e.g. curtailment)
• Comparing and contrasting resource variability and uncertainty issues in • Trends in renewable energy policy, including the move to auction-based
renewable power: solar, wind, geothermal, hydro, biomass. markets and “subsidy-free” renewable power.
• Examples of year-by-year and seasonal natural resource variability.
• Defining “P” metrics (P50, P90 etc.) and explaining their impact on the financial 3) GROUP TASK: POWER PROJECT ECONOMICS COMPARED
model (and investor returns). • Using a provided cash-flow model to quantify the economics and business
• Specific and future resource risk issues around different biomass sources, cases for power project alternatives in a market.
including wastes. • Evaluating the impacts of variability in resource qualities, current and future
costs, financing availability and more.
4) COSTS & PRICES • Comparing modelled and market prices to identify requirements for policy
• Levelised Cost of Energy (LCOE): understanding what it is – and what it isn’t support or subsidy: is renewable power competitive?
(and why it can be misused).
• Marginal cost, Merit Order and wholesale power markets: new challenges in a 4) GROUP TASK: POLICY & COMPETITIVE BIDDING
world of “fuel-free” renewables. • Defining short, medium and long-term policy requirements, targets and
• Examples of extreme pricing: price spikes and negative prices (including their mechanisms.
causes and mitigation). • Evaluating the competitive positioning of different project types in a market,
• What end-users actually pay: wholesale prices, system costs, policy costs and now and in future.
retail prices. • Comparing decarbonisation solutions, from an economic and financial
perspective.
 ACADEMY
DAY AGENDA
TO DAY ACADEMY

CADEMY
DAY 3 - MARKET CONTEXT & COMPETITION ACADEMY
DAY 4 - LARGE-SCALE INTEGRATION

1) THE POWER GENERATION SUPPLY MATRIX 1) RENEWABLES & THE GRID

• Power options compared using various factors, for example emissions, • The operation and key metrics of the grid system (transmission & distribution,
sustainability, operation, economics and more. T&D).
• The big picture: history and trends in world primary energy use and • Challenges in maintaining the power supply/demand balance at high
consumption, including key demand drivers. renewable power penetrations: macro and local impacts.
• Changes in the contribution of renewables to the global energy mix (both • Issues for scalability and growth, including barriers around legacy
electricity and total energy). infrastructure, existing business models, new infrastructure deployment.
• Global vs. local: contrasting different country examples (and the lessons • Short timescale power matching requirements for grid reliability (ancillary
learned). services), including examples.

2) POWER SUPPLY FLEXIBILITY AND SECURITY 2) ELECTRICITY STORAGE AND ALTERNATIVES

• Exploring “variability”: demand and supply side comparisons • Understanding where storage sits within the supply and demand mix.
• Keeping the lights on: peak demand, supply and capacity margin • The pros and cons of available storage solutions in future growth, including
• Oversupply, curtailment and negative prices: causes and mitigations pumped hydro, battery, thermal, chemical and more.
• Evaluating system flexibility and security: why the mix matters to policymakers • Matching storage capabilities to power system stability and energy-shifting
and investors alike. applications: what the market tells us and how it is changing.
• Alternatives to storage, including grid interconnectivity and demand
3) TECHNOLOGY TRENDS I.: SOLAR & WIND management / demand response (DSR) mechanisms.
• What’s new in power generation, both now and emerging (to enable continued • The economics and business cases for electricity storage (examples).
growth)
• Solar PV, e.g.: efficiency, energy maximisation, location & installation 3) GROUP TASK: POWER MIX PATHWAYS
• Solar CSP, e.g.: cost-reduction, thermal storage • Analysing market demand and supply using a simple energy mix model
• Wind power, e.g.: energy maximisation, reliability & materials (provided).
• Offshore wind (and other offshore power), e.g.: installation, floating, offshore • Compare a current power generation mix with future market requirements
grid (including demand growth, carbon reduction, domestic supply security).
• Exploring the impacts of future growth projections and/or demand reduction.
4) TECHNOLOGY TRENDS II.: HYDRO, BIOMASS & GEOTHERMAL • Assessing system reliability risks (under- and over-supply).
• What’s new in power generation, both now and emerging (to enable continued
growth) 4) GROUP TASK: POWER SHIFT OUTCOMES
• Hydropower: e.g. locations, scale • Combining potential power mix pathways with previously quantified economic
• Biomass: e.g. sustainability and feedstock, efficiency, hybridisation and financial considerations.
• Geothermal: e.g. cost reduction, drilling technology, field management • How do future power mix options compare in terms of reliability vs. cost?
• Total investment costs vs. ongoing costs of energy.
 ACADEMY
DAY AGENDA
TO DAY ACADEMY

EMY
DAY 5 - ENERGY TRANSITIONS

1) ELECTRIFICATION OF TRANSPORT & HEAT

• Why electrification of transport and heat are key facets of all 100% renewable
energy scenarios.
• Assessing the impact on electricity demand (and hence supply requirements),
including a review of Electric Vehicle (EV) growth.
• Electric vehicles and the grid: integrating and managing EVs in large numbers.
• Electric vehicles and renewable power: can you charge your EV from your
PRESENTED
ACADEMY
domestic PV? (and other questions)
• Options for the efficient electrification of heat, including the integration of
electric heating into smart demand management strategies.
BY
Dr John Massey
2) SOCIOECONOMIC CONSIDERATIONS
• Social and economic factors in making the transition happen, including
Director, Grey Cells Energy Ltd.
affordability, skills and economic multipliers. John is a respected energy business analyst & trainer
• Addressing public concerns and common objections to the energy transition. with over 25 years’ commercial experience in industry
• Identifying key social and economic drivers to ensure sustainable public and
research, analysis, intelligence and training; plus an
political support.
• DISCUSSION: the policymaker’s dilemma and the challenges of balancing outstanding academic background in both natural
different aspects of the market environment. sciences and economics. His business experience has
spanned both the energy and telecoms/IT industries, providing an
3) GROUP TASK: TRANSITION PLANNING & RISKS informed perspective on how convergence of the two into a smarter
• The possible impacts of electrification on previously modelled power mix system will bring major change to the way electricity is generated,
scenarios.
distributed and consumed. By focusing on the interconnection of
• Applying real-world constraints and concerns to previously proposed
transition pathways: public and political acceptance multiple business variables within energy and technology markets,
• Conclusion: proposing a realistic and sustainable market evolution which he has helped senior business-people in over 25 countries across 5
integrates consideration of electricity delivery, financial performance and continents. They have represented a wide variety of organisations from
socioeconomic outcomes. start-ups to the world’s biggest corporations. His integrated approach
• Presentation of integrated group task findings. to market analysis highlights the requirement to understand disruptive
technology change in its wider context – including regulatory
4) GROUP TASK: TRANSITION PATHWAYS COMPARED
• DISCUSSION & EVALUATION of presented results. environments and drivers, market structures, investment drivers and
• Closing comments and summary of key course takeaways. returns, socioeconomic issues & public acceptance.
THE
“I LEARNED SO MUCH ABOUT
RENEWABLE THE KEY FACTORS INFLUENCING
ENERGY THE FUTURE OF RENEWABLE
MINI-MBA ENERGY SOURCES.”
17 - 21 September 2018 Head of Electrical Engineering
LONDON European Space Agency

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EARLY BIRD HOW TO REGISTER
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