Our experience in Renewable Energy is important and in different geographies.
Renewable energy is a sector where the knowledge of the different technologies, combined with legal know-how of the remuneration system is crucial to understand the risks and returns. Inicia2 is an enthusiast these infrastructures, has earnt an extensive knowledge on different technologies and owns a proven track record in different fields of these types of energy, engaged in important transactions across the globe.
- Analysis of Spanish Legal Framework around the Remuneration of Renewable Energy. Spain has a remuneration system of direct support to the renewable energy regulated by bills. After the financial crisis of 2008, the Spanish Government decided to change the remuneration system, causing a chain of bankruptcies. An institutional investor with interest in the acquisition of renewable assets in Spain hired Inicia2 to understand the new legal framework and how to include it in financial models.
- Atlantica Yield, the US-listed company, used to be the most relevant group for renewable energy. The company had a sharp decrease in the share price, and equity investors hired Inicia2 to analyse the reasons behind it. In a second stage, under the debt restructuring of the strategic shareholder of the company, Inicia2 was involved in the valuation of the assets modelling the revenues of each of the assets.
- South African solar assets: Xina Solar, Khi and Kaxu. Abengoa recently finished the second debt restructuring and had to sell the non-core assets. Bond investors wanted to understand the value of these South African assets and Inicia2 engaged in the evaluation of the South African off-taker, Eskom, the analysis of the PPA and the valuation of the assets.
- Solar Power Plant One (SPP1) is an innovative Combined Gas Cycle plant combined with a parabolic trough solution in Algeria. Abengoa was heading to third debt restructuring and “old money” investors wanted to understand why the company was experiencing delays in the disposal of this asset. Inicia2 provided an evaluation of the asset and a list of natural buyers.
- Atacama II Solar, the biggest PV plant in Chile was “theoretically” qualified for construction, but it couldn’t start due to financial problems of the owner. Inicia2 suppurted an equity investor in understanding the project, the Chilean legal framework, the construction costs….
- Financing of wind farms in Poland. A financial institution was aiming to refinance a wind farm which was remunerated under the green certificates scheme. Inicia2 provided a financial analysis and potential evolution of the green certificates under the new legal framework.
- Analysis of the new legal environment for renewable energy in Poland. Polish legal environment for renewable energy changed to spur this type of energy and meet the EU criteria. Under this scenario PV energy becomes more attractive. Inicia2 provided an understanding of the new legal framework of renewable energy with special focus on pv.
- PV plant in Poland. A renewable energy fund was aiming to disembark in Poland through acquisitions of PV assets. Incia2 provided an analysis of the legal framework, milestone to achieve all the permits to start the operations, detailed CAPEX analysis and operational costs.
- Prodiel, the largest PV developer in Europe, needed an extra financing line to finance its new projects. An international bank was interested in taking a part in this loan and hired Inicia2 to analyse the company, its projects and very specially a portfolio of 1.000Mw under construction.
- Financing of wind farms in Poland. A financial institution was aiming to refinance a wind farm which was remunerated under the green certificates scheme. Inicia2 provided a financial analysis and potential evolution of the green certificates under the new legal framework.
- Analysis of the new legal environment for renewable energy in Poland. Polish legal environment for renewable energy changed to spur this type of energy and meet the EU criteria. Under this scenario PV energy becomes more attractive. Inicia2 provided an understanding of the new legal framework of renewable energy with special focus on pv.
- PV plant in Poland. A renewable energy fund was aiming to disembark in Poland through acquisitions of PV assets. Incia2 provided an analysis of the legal framework, milestone to achieve all the permits to start the operations, detailed CAPEX analysis and operational costs.
- Prodiel, the largest PV developer in Europe, needed an extra financing line to finance its new projects. An international bank was interested in taking a part in this loan and hired Inicia2 to analyse the company, its projects and very specially a portfolio of 1.000Mw under construction.
