SlideShare una empresa de Scribd logo
1 de 16
Descargar para leer sin conexión
IFC's Advisory and Financial Instruments
RE Market Development and Risk Management
- example of activities in the Western Balkans -
Nebojsa Arsenijevic
International Finance Corporation
Global Infrastructure Basel
Basel, May 22, 2014
2
IFC: Part of the World Bank Group
IBRD
International Bank for
Reconstruction and
Development
IDA
International
Development
Association
IFC
International Finance
Corporation
MIGA
Multilateral Investment
and Guarantee Agency
Est. 1945 Est. 1960 Est. 1956 Est. 1998
Role To promote institutional,
legal and regulatory
reform
To promote institutional,
legal and regulatory
reform
To promote private sector
development
To reduce political
investment risk
Clients Governments of member
countries with per capita
income between $1,025
and $6,055
Governments of poorest
countries with per capita
income of less than $1,025
Private companies in
member countries
Foreign investors in
member countries
Products • Technical Assistance
• Loans
• Policy Advice
• Technical Assistance
• Interest Free Loans
• Policy Advice
• Equity/Loans
• Risk Management
• Advisory Services
• Political Risk Insurance
IFC is a Leading Investor in Emerging Markets Power
• 300+ power investments in 67 countries since 1967
• We typically invest in utility-scale projects/companies:
 Generation – Financed 30,000+ MW across wide range of technologies
 Transmission – Selected investments in transmission assets
 Distribution - Current power portfolio of ~160 million customers around the world
• We can also invest in:
 Early stage start ups in the renewable energy space
 Smaller assets/companies through financial intermediaries (banks, PE funds)
 We often invest in first-in-kind projects in markets under reform
3
Key Trends in IFC Power Business
IFC
Investment
Services
4
• Commitment volume has been steadily growing; renewable energy investments increased 5x
since 2007; 65% to 75% of power business, up from ~25% 5 years ago
• Mobilization has been an increasingly important part of our business; we mobilized $1.7 billion
in B-loans and other parallel loans in FY2011
• We have been developing locally based teams with market expertise
• Greater technology diversification: not just hydro and wind, but also geothermal, solar, and
biomass
• In-house technical expertise allows us to better appraise investments in new and emerging
technologies / prototypes
• Investments through financial intermediaries (e.g. private equity funds, holding companies) an
increasing share of our business; allow us to support smaller companies / projects
5
Identified Obstacles
Political Obstacles
• Incomplete legal framework
• Lack of institutional capacity
• High political risk
RE Developers/Sponsors
• Technical capacity
• Financial capacity
• Proper market assessment
Local Banks
• Capacity relating to RE project
• Experience in Project Finance
• Long-term funding
6
AS - Balkans Renewable Energy Program (BREP)
Component Activities
C1 Regulatory framework improvements
C2 Support to renewable energy sponsors (Market and company level)
C3 Support to financial institutions (Market and bank level)
BREP Countries
ALB Albania*
BIH Bosnia and Herzegovina*
MAC Macedonia**
MNE Montenegro***
KOS Kosovo***
SRB Serbia***
MDA Moldova*** (limited scope)
* Started FY10; ** Started FY12; *** Started FY13
7
BREP’s Key Results – Legal Framework
Country Legal Document Enacted
SRB Decree on Feed-in Tariffs
Decree on Privileged Status
Decree on End-User Fee Calculation
Preliminary PPAs (below and above 5 MW)
Jan, 2013
Jun, 2013
ALB Law on Renewable Energy May, 2013
BIH
(RS)
Law on Renewable Energy and Efficient Cogeneration
Law on Concessions
May, 2013
Jun, 2013
BIH (FBIH) Law on Renewable Energy and Efficient Cogeneration Sep, 2013
Targets:
• Align national regulation with EU; Fulfill obligations in accordance to EC Treaty of SEE;
• Design appropriate incentive mechanisms;
• Increase transparency of concessions granting procedure (credibility);
• Design investment promotion tools and mechanisms for SHPPs;
• Decrease collateral requirements;
8
BREP’s Key Results – Support to Sponsors
Country Activity Type
ALB B2B – Linking international and local SHPP companies
Registration of Programmatic CDM for SHPPs
Review of the Feasibility study for a cascade of seven SHPPs
Market
Company
Company
SRB Analysis of biogas plants costs and incomes in Serbia Market
BIH Support in SHPP tender preparation
Review of the Preliminary design for a cascade of three SHPPs
Market
Company
MAC Pre-feasibility study preparation for biomass plant Company
Market Level
Interventions
Company Level
Interventions
• B2B workshops
• Support to Associations
• Knowledge sharing
• Promotion of new technologies
• Designs cross-check and review
• Business plan preparation
• E&S assessment
• CDM projects registration
9
BREP’s Key Results – Support to Banks
Country Activity Type
ALB Country level workshop
Training and support to Credins Bank
Training and support to Intesa Bank
Market
Company
Company
BIH Country level workshop Market
KOS Country level workshop Market
MAC Country level workshop Market
MNE Country level workshop Market
SRB Country level workshop Market
Market Level
Interventions
Bank Level
Interventions
• Training material development
• Integration of Regulatory/
Budgeting/ Engineering and Risk in
the Finance Manual
• Country level workshops
• In-depth training focused on SHPPs
and project finance
• Support in SHPP assessment
• Portfolio analysis and
recommendations
10
IFC’s Infra Venture (IV)
Objectives
$ 150 MM
Global Infra
Fund
20-30% of dev.
costs (up to $
8 MM)
IFC IV equity
at
fin. close
Eligibility Activities
PPP or private
infrastructure
(IDA or MIC)
Early stages of
development
Type of projects:
• Agreement with Gvt
• Tendered by the Gvt
• Need of surrogate
sponsor at initial stages
feasibility studies and
pilot tests
economic, social,
technical and
environmental studies
Financial modelling
Obtaining required
permits
11
Objectives
Catalyze
investments
Address
market
barriers
Achieve
demonstratio
n effect
Approach
FY13
Results
Blend donor funds
alongside IFC investments
Disciplined, targeted, &
strategic
Examples:
• Lower interest
• Longer tenor
• Contractually
subordinated loan
alongside IFC
To support
total
project
size $2.5B
Blended
with
$600M IFC
financing
$130M
concession.
funds
Blended Finance for Climate Projects
Concessional funds take higher risk than IFC’s own funds
12
World Bank Group’s facilities (IBRD, MIGA)
IBRD/IDA
Partial Risk Guarantees (PRG)
MIGA
Partial Risk Guarantee
Main Objectives:
• Back Government obligations
• Cover private debt against a Gvt’s
obligations to private or public prj
• Improve overall credit quality of
project-partial use of AAA mitigant
• Enable viability and bankability through
strong risk mitigation
Risks Covered:
• Gvt’s contractual payment obligations:
payments, termination, subsidies, etc.
• Regulatory Risk: change in law,
negation of license, tariff adjustment
• Currency Risk
• Political Force Majeure: expropriation,
war & civil disturbance
• Frustration of arbitration
Main Objectives:
• Focusing on sustainable development
• Difficult or frontier markets
• Investments in poorest countries
• Supporting infrastructure projects -
both the sovereign and sub-sovereign
• Promoting cross-border investments
between developing countries
Risks Covered:
• Currency Transfer Restriction and
Inconvertibility
• Expropriation
• War and Civil Disturbance
• Breach of Contract
• Non-Honoring of Sovereign Financial
Obligations
Appendix
13
14
Legal Docs Drafting
C1 – Regulatory Level
Business to Business
C2 – Market Level
Programmatic CDM
C2 – Company Level
Equity Investment
IFC IS C3N
Country Level Workshop
C3 – Market Level
In-depth + Assessment
C3 – FI Level
Dedicated RE Loan
IFC IS FM
AS
ISExample:
ENSO HYDRO
Example:
CREDINS BANK
Approach in transforming the market
15
Selection of IFC’s Recent Regional RE Investments
• SHPPs in Albania owned by the Austrian enso G.m.b.H
 Installed power up to 50 MW
 Investment value up to EUR 100 million
 IFC equity investment EUR 6 million
• Wind power plant Sibenik in Croatia owned by the Austrian RP Global Holding
 Installed power 44 MW
 Investment value EUR 84 million
 IFC loan EUR 20 million; mobilized additional EUR 35 million
• Wind power plant Jelinak in Croatia owned by the Spanish Acciona S.A.
 Installed power 30 MW
 Investment value EUR 55 million
 IFC loan EUR 20 million; mobilization of additional EUR 25 million
• HPP privatization in Albania by the Turkish Kurum International
 Installed power 77 MW
 Investment value EUR 120 million
 IFC loan EUR 30 million; mobilization of additional EUR 66 million
16
Challenges in RE (SHPP) Development
Design vs. Operation (or estimated vs. actual generation)

Más contenido relacionado

La actualidad más candente

Private sector in infrastructure funding/financing models and role of institu...
Private sector in infrastructure funding/financing models and role of institu...Private sector in infrastructure funding/financing models and role of institu...
Private sector in infrastructure funding/financing models and role of institu...OECD Governance
 
Aligning Sponsor and Investor Interests in P3s - Alternative Risk and Profit...
Aligning Sponsor and Investor Interests in P3s -  Alternative Risk and Profit...Aligning Sponsor and Investor Interests in P3s -  Alternative Risk and Profit...
Aligning Sponsor and Investor Interests in P3s - Alternative Risk and Profit...OECD Governance
 
Project on Connectivity Infrastructure to Enhance Productivity and GVCs - Fer...
Project on Connectivity Infrastructure to Enhance Productivity and GVCs - Fer...Project on Connectivity Infrastructure to Enhance Productivity and GVCs - Fer...
Project on Connectivity Infrastructure to Enhance Productivity and GVCs - Fer...OECD Governance
 
Sustainable funding of infrastructure projects - Andrew JAGGERS, Australia
Sustainable funding of infrastructure projects - Andrew JAGGERS, AustraliaSustainable funding of infrastructure projects - Andrew JAGGERS, Australia
Sustainable funding of infrastructure projects - Andrew JAGGERS, AustraliaOECD Governance
 
Maintaining and enhancing value from existing PPPs - Jo Fox, United Kingdom
Maintaining and enhancing value from existing PPPs  - Jo Fox, United KingdomMaintaining and enhancing value from existing PPPs  - Jo Fox, United Kingdom
Maintaining and enhancing value from existing PPPs - Jo Fox, United KingdomOECD Governance
 
Managing VfM: a project lifecycle approach - Fernando Crespo Diu, Portugal
Managing VfM: a project lifecycle approach - Fernando Crespo Diu, PortugalManaging VfM: a project lifecycle approach - Fernando Crespo Diu, Portugal
Managing VfM: a project lifecycle approach - Fernando Crespo Diu, PortugalOECD Governance
 
PPP disclosure - A view from the UK audit office - Daniel Fairhead, United Ki...
PPP disclosure - A view from the UK audit office - Daniel Fairhead, United Ki...PPP disclosure - A view from the UK audit office - Daniel Fairhead, United Ki...
PPP disclosure - A view from the UK audit office - Daniel Fairhead, United Ki...OECD Governance
 
After Paris - How do we meet the infrastructure targets that the COP21 Paris ...
After Paris - How do we meet the infrastructure targets that the COP21 Paris ...After Paris - How do we meet the infrastructure targets that the COP21 Paris ...
After Paris - How do we meet the infrastructure targets that the COP21 Paris ...OECD Governance
 
The governance of mega infrastructure projects - Juliane JANSEN, OECD Secreta...
The governance of mega infrastructure projects - Juliane JANSEN, OECD Secreta...The governance of mega infrastructure projects - Juliane JANSEN, OECD Secreta...
The governance of mega infrastructure projects - Juliane JANSEN, OECD Secreta...OECD Governance
 
PPP for regional development - Lisa MITCHELL, Canada
PPP for regional development - Lisa MITCHELL, CanadaPPP for regional development - Lisa MITCHELL, Canada
PPP for regional development - Lisa MITCHELL, CanadaOECD Governance
 
OECD, 7th Meeting on Public-Private Partnerships - Virginie GRAND
OECD, 7th Meeting on Public-Private Partnerships - Virginie GRANDOECD, 7th Meeting on Public-Private Partnerships - Virginie GRAND
OECD, 7th Meeting on Public-Private Partnerships - Virginie GRANDOECD Governance
 
Investment promotion and access to markets: new opportunity?
Investment promotion and access to markets: new opportunity?Investment promotion and access to markets: new opportunity?
Investment promotion and access to markets: new opportunity?OECDglobal
 
Financiang Infrastructural Development in Zimbabwe
Financiang Infrastructural Development in ZimbabweFinanciang Infrastructural Development in Zimbabwe
Financiang Infrastructural Development in ZimbabweVincent Mutsvene
 
Public-Private Partnerships
Public-Private PartnershipsPublic-Private Partnerships
Public-Private Partnershipsmuktadirmahin
 
Public private partnerships in infrastructure projects
Public private partnerships in infrastructure projectsPublic private partnerships in infrastructure projects
Public private partnerships in infrastructure projectsHillary Fernando
 
The World Bank's framework for assessing PIM systems - Anand Rajaram, World B...
The World Bank's framework for assessing PIM systems - Anand Rajaram, World B...The World Bank's framework for assessing PIM systems - Anand Rajaram, World B...
The World Bank's framework for assessing PIM systems - Anand Rajaram, World B...OECD Governance
 

La actualidad más candente (20)

Private sector in infrastructure funding/financing models and role of institu...
Private sector in infrastructure funding/financing models and role of institu...Private sector in infrastructure funding/financing models and role of institu...
Private sector in infrastructure funding/financing models and role of institu...
 
Aligning Sponsor and Investor Interests in P3s - Alternative Risk and Profit...
Aligning Sponsor and Investor Interests in P3s -  Alternative Risk and Profit...Aligning Sponsor and Investor Interests in P3s -  Alternative Risk and Profit...
Aligning Sponsor and Investor Interests in P3s - Alternative Risk and Profit...
 
Project on Connectivity Infrastructure to Enhance Productivity and GVCs - Fer...
Project on Connectivity Infrastructure to Enhance Productivity and GVCs - Fer...Project on Connectivity Infrastructure to Enhance Productivity and GVCs - Fer...
Project on Connectivity Infrastructure to Enhance Productivity and GVCs - Fer...
 
Sustainable funding of infrastructure projects - Andrew JAGGERS, Australia
Sustainable funding of infrastructure projects - Andrew JAGGERS, AustraliaSustainable funding of infrastructure projects - Andrew JAGGERS, Australia
Sustainable funding of infrastructure projects - Andrew JAGGERS, Australia
 
Maintaining and enhancing value from existing PPPs - Jo Fox, United Kingdom
Maintaining and enhancing value from existing PPPs  - Jo Fox, United KingdomMaintaining and enhancing value from existing PPPs  - Jo Fox, United Kingdom
Maintaining and enhancing value from existing PPPs - Jo Fox, United Kingdom
 
Managing VfM: a project lifecycle approach - Fernando Crespo Diu, Portugal
Managing VfM: a project lifecycle approach - Fernando Crespo Diu, PortugalManaging VfM: a project lifecycle approach - Fernando Crespo Diu, Portugal
Managing VfM: a project lifecycle approach - Fernando Crespo Diu, Portugal
 
PPP disclosure - A view from the UK audit office - Daniel Fairhead, United Ki...
PPP disclosure - A view from the UK audit office - Daniel Fairhead, United Ki...PPP disclosure - A view from the UK audit office - Daniel Fairhead, United Ki...
PPP disclosure - A view from the UK audit office - Daniel Fairhead, United Ki...
 
After Paris - How do we meet the infrastructure targets that the COP21 Paris ...
After Paris - How do we meet the infrastructure targets that the COP21 Paris ...After Paris - How do we meet the infrastructure targets that the COP21 Paris ...
After Paris - How do we meet the infrastructure targets that the COP21 Paris ...
 
The governance of mega infrastructure projects - Juliane JANSEN, OECD Secreta...
The governance of mega infrastructure projects - Juliane JANSEN, OECD Secreta...The governance of mega infrastructure projects - Juliane JANSEN, OECD Secreta...
The governance of mega infrastructure projects - Juliane JANSEN, OECD Secreta...
 
PPP for regional development - Lisa MITCHELL, Canada
PPP for regional development - Lisa MITCHELL, CanadaPPP for regional development - Lisa MITCHELL, Canada
PPP for regional development - Lisa MITCHELL, Canada
 
Final Project ms
Final Project msFinal Project ms
Final Project ms
 
OECD, 7th Meeting on Public-Private Partnerships - Virginie GRAND
OECD, 7th Meeting on Public-Private Partnerships - Virginie GRANDOECD, 7th Meeting on Public-Private Partnerships - Virginie GRAND
OECD, 7th Meeting on Public-Private Partnerships - Virginie GRAND
 
Investment promotion and access to markets: new opportunity?
Investment promotion and access to markets: new opportunity?Investment promotion and access to markets: new opportunity?
Investment promotion and access to markets: new opportunity?
 
Issues for the host government
Issues for the host governmentIssues for the host government
Issues for the host government
 
Financiang Infrastructural Development in Zimbabwe
Financiang Infrastructural Development in ZimbabweFinanciang Infrastructural Development in Zimbabwe
Financiang Infrastructural Development in Zimbabwe
 
Martin koch
Martin kochMartin koch
Martin koch
 
Public-Private Partnerships
Public-Private PartnershipsPublic-Private Partnerships
Public-Private Partnerships
 
Public private partnerships in infrastructure projects
Public private partnerships in infrastructure projectsPublic private partnerships in infrastructure projects
Public private partnerships in infrastructure projects
 
The World Bank's framework for assessing PIM systems - Anand Rajaram, World B...
The World Bank's framework for assessing PIM systems - Anand Rajaram, World B...The World Bank's framework for assessing PIM systems - Anand Rajaram, World B...
The World Bank's framework for assessing PIM systems - Anand Rajaram, World B...
 
African ppp doc 1
African ppp   doc 1African ppp   doc 1
African ppp doc 1
 

Destacado

GIB Foundation - Financing Infrastructure Projects in Cities by André Schneid...
GIB Foundation - Financing Infrastructure Projects in Cities by André Schneid...GIB Foundation - Financing Infrastructure Projects in Cities by André Schneid...
GIB Foundation - Financing Infrastructure Projects in Cities by André Schneid...Global Infrastructure Basel Foundation
 
SUSI - Energy Learnings from Energy Savings by Patrick Fankhauser at GIB Summit
SUSI - Energy Learnings from Energy Savings by Patrick Fankhauser at GIB SummitSUSI - Energy Learnings from Energy Savings by Patrick Fankhauser at GIB Summit
SUSI - Energy Learnings from Energy Savings by Patrick Fankhauser at GIB SummitGlobal Infrastructure Basel Foundation
 
Thomson Reuters - Defining and Measuring Performance by Sumeet Manchanda at G...
Thomson Reuters - Defining and Measuring Performance by Sumeet Manchanda at G...Thomson Reuters - Defining and Measuring Performance by Sumeet Manchanda at G...
Thomson Reuters - Defining and Measuring Performance by Sumeet Manchanda at G...Global Infrastructure Basel Foundation
 
ITDP - Advancing Low Carbon Transport by Michael Replogle at GIB Summit
ITDP - Advancing Low Carbon Transport by Michael Replogle at GIB SummitITDP - Advancing Low Carbon Transport by Michael Replogle at GIB Summit
ITDP - Advancing Low Carbon Transport by Michael Replogle at GIB SummitGlobal Infrastructure Basel Foundation
 
Climate Bonds Initiative - Creditworthiness by Sean Kidney at GIB Summit
Climate Bonds Initiative - Creditworthiness by Sean Kidney at GIB SummitClimate Bonds Initiative - Creditworthiness by Sean Kidney at GIB Summit
Climate Bonds Initiative - Creditworthiness by Sean Kidney at GIB SummitGlobal Infrastructure Basel Foundation
 
Danish Ministry for Environement - the 3GF water leakage Network by Christian...
Danish Ministry for Environement - the 3GF water leakage Network by Christian...Danish Ministry for Environement - the 3GF water leakage Network by Christian...
Danish Ministry for Environement - the 3GF water leakage Network by Christian...Global Infrastructure Basel Foundation
 
IISD Performance Based Specifications in Public Procurement by Laura Turley a...
IISD Performance Based Specifications in Public Procurement by Laura Turley a...IISD Performance Based Specifications in Public Procurement by Laura Turley a...
IISD Performance Based Specifications in Public Procurement by Laura Turley a...Global Infrastructure Basel Foundation
 
Harvard University - GIB Summit 2014 by Andreas Georgoulias at GIB Summit
Harvard University - GIB Summit 2014 by Andreas Georgoulias at GIB SummitHarvard University - GIB Summit 2014 by Andreas Georgoulias at GIB Summit
Harvard University - GIB Summit 2014 by Andreas Georgoulias at GIB SummitGlobal Infrastructure Basel Foundation
 
Kota - Mobilizing Large Scale Capital by Mayor Ratna Jain at GIB Summit
 Kota - Mobilizing Large Scale Capital by Mayor Ratna Jain at GIB Summit Kota - Mobilizing Large Scale Capital by Mayor Ratna Jain at GIB Summit
Kota - Mobilizing Large Scale Capital by Mayor Ratna Jain at GIB SummitGlobal Infrastructure Basel Foundation
 
WWF - Enabling Long Term Sustainable Investments by Timothy Hassett at GIB Su...
WWF - Enabling Long Term Sustainable Investments by Timothy Hassett at GIB Su...WWF - Enabling Long Term Sustainable Investments by Timothy Hassett at GIB Su...
WWF - Enabling Long Term Sustainable Investments by Timothy Hassett at GIB Su...Global Infrastructure Basel Foundation
 
PWC - Catalysing Institutional Investment in Climate-Resilient Infrastructure...
PWC - Catalysing Institutional Investment in Climate-Resilient Infrastructure...PWC - Catalysing Institutional Investment in Climate-Resilient Infrastructure...
PWC - Catalysing Institutional Investment in Climate-Resilient Infrastructure...Global Infrastructure Basel Foundation
 

Destacado (20)

GIB Foundation - Financing Infrastructure Projects in Cities by André Schneid...
GIB Foundation - Financing Infrastructure Projects in Cities by André Schneid...GIB Foundation - Financing Infrastructure Projects in Cities by André Schneid...
GIB Foundation - Financing Infrastructure Projects in Cities by André Schneid...
 
SUSI - Energy Learnings from Energy Savings by Patrick Fankhauser at GIB Summit
SUSI - Energy Learnings from Energy Savings by Patrick Fankhauser at GIB SummitSUSI - Energy Learnings from Energy Savings by Patrick Fankhauser at GIB Summit
SUSI - Energy Learnings from Energy Savings by Patrick Fankhauser at GIB Summit
 
London - London Greenfunds by Matthew Pencharz at GIB Summit
London - London Greenfunds by Matthew Pencharz at GIB SummitLondon - London Greenfunds by Matthew Pencharz at GIB Summit
London - London Greenfunds by Matthew Pencharz at GIB Summit
 
Thomson Reuters - Defining and Measuring Performance by Sumeet Manchanda at G...
Thomson Reuters - Defining and Measuring Performance by Sumeet Manchanda at G...Thomson Reuters - Defining and Measuring Performance by Sumeet Manchanda at G...
Thomson Reuters - Defining and Measuring Performance by Sumeet Manchanda at G...
 
ITDP - Advancing Low Carbon Transport by Michael Replogle at GIB Summit
ITDP - Advancing Low Carbon Transport by Michael Replogle at GIB SummitITDP - Advancing Low Carbon Transport by Michael Replogle at GIB Summit
ITDP - Advancing Low Carbon Transport by Michael Replogle at GIB Summit
 
Climate Bonds Initiative - Creditworthiness by Sean Kidney at GIB Summit
Climate Bonds Initiative - Creditworthiness by Sean Kidney at GIB SummitClimate Bonds Initiative - Creditworthiness by Sean Kidney at GIB Summit
Climate Bonds Initiative - Creditworthiness by Sean Kidney at GIB Summit
 
Gib global infrastructure basel daniel wiener
Gib global infrastructure basel daniel wienerGib global infrastructure basel daniel wiener
Gib global infrastructure basel daniel wiener
 
Danish Ministry for Environement - the 3GF water leakage Network by Christian...
Danish Ministry for Environement - the 3GF water leakage Network by Christian...Danish Ministry for Environement - the 3GF water leakage Network by Christian...
Danish Ministry for Environement - the 3GF water leakage Network by Christian...
 
IISD Performance Based Specifications in Public Procurement by Laura Turley a...
IISD Performance Based Specifications in Public Procurement by Laura Turley a...IISD Performance Based Specifications in Public Procurement by Laura Turley a...
IISD Performance Based Specifications in Public Procurement by Laura Turley a...
 
Harvard University - GIB Summit 2014 by Andreas Georgoulias at GIB Summit
Harvard University - GIB Summit 2014 by Andreas Georgoulias at GIB SummitHarvard University - GIB Summit 2014 by Andreas Georgoulias at GIB Summit
Harvard University - GIB Summit 2014 by Andreas Georgoulias at GIB Summit
 
For a livable Shanghai by Pei Xiao
For a livable Shanghai by Pei XiaoFor a livable Shanghai by Pei Xiao
For a livable Shanghai by Pei Xiao
 
Ford Foundation - The Just City by Amy Kenyon at GIB Summit
Ford Foundation - The Just City by Amy Kenyon at GIB SummitFord Foundation - The Just City by Amy Kenyon at GIB Summit
Ford Foundation - The Just City by Amy Kenyon at GIB Summit
 
GIB - Bankability Study by Marco Grossmann at GIB Summit
GIB - Bankability Study by Marco Grossmann at GIB SummitGIB - Bankability Study by Marco Grossmann at GIB Summit
GIB - Bankability Study by Marco Grossmann at GIB Summit
 
The Gold Standard - GIB Summit 2014 by Adrian Rimmer at GIB Summit
The Gold Standard - GIB Summit 2014 by Adrian Rimmer at GIB SummitThe Gold Standard - GIB Summit 2014 by Adrian Rimmer at GIB Summit
The Gold Standard - GIB Summit 2014 by Adrian Rimmer at GIB Summit
 
Kota - Mobilizing Large Scale Capital by Mayor Ratna Jain at GIB Summit
 Kota - Mobilizing Large Scale Capital by Mayor Ratna Jain at GIB Summit Kota - Mobilizing Large Scale Capital by Mayor Ratna Jain at GIB Summit
Kota - Mobilizing Large Scale Capital by Mayor Ratna Jain at GIB Summit
 
WWF - Enabling Long Term Sustainable Investments by Timothy Hassett at GIB Su...
WWF - Enabling Long Term Sustainable Investments by Timothy Hassett at GIB Su...WWF - Enabling Long Term Sustainable Investments by Timothy Hassett at GIB Su...
WWF - Enabling Long Term Sustainable Investments by Timothy Hassett at GIB Su...
 
CSCP - City for one Planet Living by Michael Kuhndt
CSCP - City for one Planet Living by Michael KuhndtCSCP - City for one Planet Living by Michael Kuhndt
CSCP - City for one Planet Living by Michael Kuhndt
 
ABB - Sustainable Procurement by Philip Juneau at GIB Summit
ABB - Sustainable Procurement by Philip Juneau at GIB SummitABB - Sustainable Procurement by Philip Juneau at GIB Summit
ABB - Sustainable Procurement by Philip Juneau at GIB Summit
 
MIGA - How Political Risk Insurance by Keiko Honda at GIB Summit
MIGA - How Political Risk Insurance by Keiko Honda at GIB SummitMIGA - How Political Risk Insurance by Keiko Honda at GIB Summit
MIGA - How Political Risk Insurance by Keiko Honda at GIB Summit
 
PWC - Catalysing Institutional Investment in Climate-Resilient Infrastructure...
PWC - Catalysing Institutional Investment in Climate-Resilient Infrastructure...PWC - Catalysing Institutional Investment in Climate-Resilient Infrastructure...
PWC - Catalysing Institutional Investment in Climate-Resilient Infrastructure...
 

Similar a IFC - Advisory and Financial Instruments by Nebojsa Arsenijevic at GIB Summit

World-Bank-Procurement-Framework-and-Business-Opportunitiesapril-2021.pptx
World-Bank-Procurement-Framework-and-Business-Opportunitiesapril-2021.pptxWorld-Bank-Procurement-Framework-and-Business-Opportunitiesapril-2021.pptx
World-Bank-Procurement-Framework-and-Business-Opportunitiesapril-2021.pptxPhil Jamero
 
Capital Summit 2015 - IFC, partner of Municipalities for a successfull introd...
Capital Summit 2015 - IFC, partner of Municipalities for a successfull introd...Capital Summit 2015 - IFC, partner of Municipalities for a successfull introd...
Capital Summit 2015 - IFC, partner of Municipalities for a successfull introd...NALED Serbia
 
Case russian venture_industry_-_3_komanda
Case russian venture_industry_-_3_komandaCase russian venture_industry_-_3_komanda
Case russian venture_industry_-_3_komandaEVA
 
World bank group stefan emblad disaster and risk management_27082014
World bank group stefan emblad disaster and risk management_27082014World bank group stefan emblad disaster and risk management_27082014
World bank group stefan emblad disaster and risk management_27082014Business Finland
 
US Cleantech's Market Webinar - 18th of June 2019
US Cleantech's Market Webinar - 18th of June 2019US Cleantech's Market Webinar - 18th of June 2019
US Cleantech's Market Webinar - 18th of June 2019Cluster TWEED
 
Fmdv de log financing sd gs subnational level
Fmdv de log financing sd gs subnational levelFmdv de log financing sd gs subnational level
Fmdv de log financing sd gs subnational levelAntoine Rerolle
 
Catalyzing Private Investment in Infrastructure in Emerging Markets and Devel...
Catalyzing Private Investment in Infrastructure in Emerging Markets and Devel...Catalyzing Private Investment in Infrastructure in Emerging Markets and Devel...
Catalyzing Private Investment in Infrastructure in Emerging Markets and Devel...SDGsPlus
 
Edgar Garcia Casellas: Key issues and challenges regarding access to finance
Edgar Garcia Casellas: Key issues and challenges regarding access to financeEdgar Garcia Casellas: Key issues and challenges regarding access to finance
Edgar Garcia Casellas: Key issues and challenges regarding access to financeECIAonline
 
PF Training - outline
PF Training - outlinePF Training - outline
PF Training - outlineEmile Peters
 
Roy_Implementing Mortgage Loan Products in Serbia and Armenia_Case Study_21.0...
Roy_Implementing Mortgage Loan Products in Serbia and Armenia_Case Study_21.0...Roy_Implementing Mortgage Loan Products in Serbia and Armenia_Case Study_21.0...
Roy_Implementing Mortgage Loan Products in Serbia and Armenia_Case Study_21.0...Friedemann Roy
 
Session 2 - Presentation by Jan-Willem Van De Ven, EBRD
Session 2 - Presentation by Jan-Willem Van De Ven, EBRDSession 2 - Presentation by Jan-Willem Van De Ven, EBRD
Session 2 - Presentation by Jan-Willem Van De Ven, EBRDOECD Environment
 
Session 1 - Ian Carruthers and John Stanford, IPSASB
Session 1 - Ian Carruthers and John Stanford, IPSASBSession 1 - Ian Carruthers and John Stanford, IPSASB
Session 1 - Ian Carruthers and John Stanford, IPSASBOECD Governance
 
2019 ASEAN PPP Summit MPG Opening
2019 ASEAN PPP Summit MPG Opening2019 ASEAN PPP Summit MPG Opening
2019 ASEAN PPP Summit MPG OpeningLuca Bernardinetti
 
Kyrgyz Republic - Competitiveness recommendations
Kyrgyz Republic - Competitiveness recommendationsKyrgyz Republic - Competitiveness recommendations
Kyrgyz Republic - Competitiveness recommendationsOECDglobal
 
UB Internation Financial Zone
UB Internation Financial ZoneUB Internation Financial Zone
UB Internation Financial ZoneBatmunkh Munkhuu
 

Similar a IFC - Advisory and Financial Instruments by Nebojsa Arsenijevic at GIB Summit (20)

World-Bank-Procurement-Framework-and-Business-Opportunitiesapril-2021.pptx
World-Bank-Procurement-Framework-and-Business-Opportunitiesapril-2021.pptxWorld-Bank-Procurement-Framework-and-Business-Opportunitiesapril-2021.pptx
World-Bank-Procurement-Framework-and-Business-Opportunitiesapril-2021.pptx
 
Capital Summit 2015 - IFC, partner of Municipalities for a successfull introd...
Capital Summit 2015 - IFC, partner of Municipalities for a successfull introd...Capital Summit 2015 - IFC, partner of Municipalities for a successfull introd...
Capital Summit 2015 - IFC, partner of Municipalities for a successfull introd...
 
Case russian venture_industry_-_3_komanda
Case russian venture_industry_-_3_komandaCase russian venture_industry_-_3_komanda
Case russian venture_industry_-_3_komanda
 
514 michael hofer sam gmb h
514 michael hofer   sam gmb h514 michael hofer   sam gmb h
514 michael hofer sam gmb h
 
World bank group stefan emblad disaster and risk management_27082014
World bank group stefan emblad disaster and risk management_27082014World bank group stefan emblad disaster and risk management_27082014
World bank group stefan emblad disaster and risk management_27082014
 
US Cleantech's Market Webinar - 18th of June 2019
US Cleantech's Market Webinar - 18th of June 2019US Cleantech's Market Webinar - 18th of June 2019
US Cleantech's Market Webinar - 18th of June 2019
 
Fmdv de log financing sd gs subnational level
Fmdv de log financing sd gs subnational levelFmdv de log financing sd gs subnational level
Fmdv de log financing sd gs subnational level
 
Catalyzing Private Investment in Infrastructure in Emerging Markets and Devel...
Catalyzing Private Investment in Infrastructure in Emerging Markets and Devel...Catalyzing Private Investment in Infrastructure in Emerging Markets and Devel...
Catalyzing Private Investment in Infrastructure in Emerging Markets and Devel...
 
Edgar Garcia Casellas: Key issues and challenges regarding access to finance
Edgar Garcia Casellas: Key issues and challenges regarding access to financeEdgar Garcia Casellas: Key issues and challenges regarding access to finance
Edgar Garcia Casellas: Key issues and challenges regarding access to finance
 
PF Training - outline
PF Training - outlinePF Training - outline
PF Training - outline
 
Roy_Implementing Mortgage Loan Products in Serbia and Armenia_Case Study_21.0...
Roy_Implementing Mortgage Loan Products in Serbia and Armenia_Case Study_21.0...Roy_Implementing Mortgage Loan Products in Serbia and Armenia_Case Study_21.0...
Roy_Implementing Mortgage Loan Products in Serbia and Armenia_Case Study_21.0...
 
OECD Investment Policy Review of Myanmar 2020 - Key Highlights
OECD Investment Policy Review of Myanmar 2020 - Key HighlightsOECD Investment Policy Review of Myanmar 2020 - Key Highlights
OECD Investment Policy Review of Myanmar 2020 - Key Highlights
 
GIB2015_Public and Private Sector Transit Development_Bustinduy
GIB2015_Public and Private Sector Transit Development_BustinduyGIB2015_Public and Private Sector Transit Development_Bustinduy
GIB2015_Public and Private Sector Transit Development_Bustinduy
 
Mike Pfister, OECD, 2014 ASEAN-OECD Investment Policy Conference
Mike Pfister, OECD, 2014 ASEAN-OECD Investment Policy ConferenceMike Pfister, OECD, 2014 ASEAN-OECD Investment Policy Conference
Mike Pfister, OECD, 2014 ASEAN-OECD Investment Policy Conference
 
Session 2 - Presentation by Jan-Willem Van De Ven, EBRD
Session 2 - Presentation by Jan-Willem Van De Ven, EBRDSession 2 - Presentation by Jan-Willem Van De Ven, EBRD
Session 2 - Presentation by Jan-Willem Van De Ven, EBRD
 
Session 1 - Ian Carruthers and John Stanford, IPSASB
Session 1 - Ian Carruthers and John Stanford, IPSASBSession 1 - Ian Carruthers and John Stanford, IPSASB
Session 1 - Ian Carruthers and John Stanford, IPSASB
 
11h00 icc trade register - krishnan ramadurai (1)
11h00    icc trade register - krishnan ramadurai (1)11h00    icc trade register - krishnan ramadurai (1)
11h00 icc trade register - krishnan ramadurai (1)
 
2019 ASEAN PPP Summit MPG Opening
2019 ASEAN PPP Summit MPG Opening2019 ASEAN PPP Summit MPG Opening
2019 ASEAN PPP Summit MPG Opening
 
Kyrgyz Republic - Competitiveness recommendations
Kyrgyz Republic - Competitiveness recommendationsKyrgyz Republic - Competitiveness recommendations
Kyrgyz Republic - Competitiveness recommendations
 
UB Internation Financial Zone
UB Internation Financial ZoneUB Internation Financial Zone
UB Internation Financial Zone
 

Más de Global Infrastructure Basel Foundation

GIB2015_Increasing Efficiency of Sustainable Infrastructure_Changsheng
GIB2015_Increasing Efficiency of Sustainable Infrastructure_ChangshengGIB2015_Increasing Efficiency of Sustainable Infrastructure_Changsheng
GIB2015_Increasing Efficiency of Sustainable Infrastructure_ChangshengGlobal Infrastructure Basel Foundation
 

Más de Global Infrastructure Basel Foundation (20)

GIB2015_Structuring Sustainable Infrastructure Projects_IISD Panel
GIB2015_Structuring Sustainable Infrastructure Projects_IISD PanelGIB2015_Structuring Sustainable Infrastructure Projects_IISD Panel
GIB2015_Structuring Sustainable Infrastructure Projects_IISD Panel
 
GIB2015_Solid Standards and Ratings_Schneider_Roos
GIB2015_Solid Standards and Ratings_Schneider_RoosGIB2015_Solid Standards and Ratings_Schneider_Roos
GIB2015_Solid Standards and Ratings_Schneider_Roos
 
GIB2015_Solid Standards and Ratings_Ruijie
GIB2015_Solid Standards and Ratings_RuijieGIB2015_Solid Standards and Ratings_Ruijie
GIB2015_Solid Standards and Ratings_Ruijie
 
GIB20115_Solid Standards and Ratings-Kornmann
GIB20115_Solid Standards and Ratings-KornmannGIB20115_Solid Standards and Ratings-Kornmann
GIB20115_Solid Standards and Ratings-Kornmann
 
GIB2015_Solid Standards and Ratings_Georgoulias
GIB2015_Solid Standards and Ratings_GeorgouliasGIB2015_Solid Standards and Ratings_Georgoulias
GIB2015_Solid Standards and Ratings_Georgoulias
 
GIB2015_Solid Standards and Ratings_Baillon
GIB2015_Solid Standards and Ratings_BaillonGIB2015_Solid Standards and Ratings_Baillon
GIB2015_Solid Standards and Ratings_Baillon
 
GIB2015_Public and Private Sector Transit Development_Hughes
GIB2015_Public and Private Sector Transit Development_HughesGIB2015_Public and Private Sector Transit Development_Hughes
GIB2015_Public and Private Sector Transit Development_Hughes
 
GIB2015_Public and Private Sector Transit Development_Grant
GIB2015_Public and Private Sector Transit Development_GrantGIB2015_Public and Private Sector Transit Development_Grant
GIB2015_Public and Private Sector Transit Development_Grant
 
GIB2015_Public and Private sector Transit Development_Gonzalez
GIB2015_Public and Private sector Transit Development_GonzalezGIB2015_Public and Private sector Transit Development_Gonzalez
GIB2015_Public and Private sector Transit Development_Gonzalez
 
GIB2015_Investors Approach to Sustainable Infrastructure_Valahu
GIB2015_Investors Approach to Sustainable Infrastructure_ValahuGIB2015_Investors Approach to Sustainable Infrastructure_Valahu
GIB2015_Investors Approach to Sustainable Infrastructure_Valahu
 
GIB2015_Instruments for Increasing Capital Flows_Zhang
GIB2015_Instruments for Increasing Capital Flows_ZhangGIB2015_Instruments for Increasing Capital Flows_Zhang
GIB2015_Instruments for Increasing Capital Flows_Zhang
 
GIB2015_Instruments for Increasing Capital Flows_von Gunten
GIB2015_Instruments for Increasing Capital Flows_von GuntenGIB2015_Instruments for Increasing Capital Flows_von Gunten
GIB2015_Instruments for Increasing Capital Flows_von Gunten
 
GIB2015_Instruments for Increasing Capital Flows_Fischer
GIB2015_Instruments for Increasing Capital Flows_FischerGIB2015_Instruments for Increasing Capital Flows_Fischer
GIB2015_Instruments for Increasing Capital Flows_Fischer
 
GIB2015_Instruments for Increasing Capital Flows_Alexander
GIB2015_Instruments for Increasing Capital Flows_AlexanderGIB2015_Instruments for Increasing Capital Flows_Alexander
GIB2015_Instruments for Increasing Capital Flows_Alexander
 
GIB2015_Increasing Efficiency of Sustainable Infrastructure_Changsheng
GIB2015_Increasing Efficiency of Sustainable Infrastructure_ChangshengGIB2015_Increasing Efficiency of Sustainable Infrastructure_Changsheng
GIB2015_Increasing Efficiency of Sustainable Infrastructure_Changsheng
 
GIB2015_Increase Investment in Sustainable Infrasructure_Jianzhong
GIB2015_Increase Investment in Sustainable Infrasructure_JianzhongGIB2015_Increase Investment in Sustainable Infrasructure_Jianzhong
GIB2015_Increase Investment in Sustainable Infrasructure_Jianzhong
 
GIB2015_Closing Financing Gap in Resilient Infrastructure_Pretel
GIB2015_Closing Financing Gap in Resilient Infrastructure_PretelGIB2015_Closing Financing Gap in Resilient Infrastructure_Pretel
GIB2015_Closing Financing Gap in Resilient Infrastructure_Pretel
 
GIB2015_Closing Financing Gap in Resilient Infrastructure_Bresch
GIB2015_Closing Financing Gap in Resilient Infrastructure_BreschGIB2015_Closing Financing Gap in Resilient Infrastructure_Bresch
GIB2015_Closing Financing Gap in Resilient Infrastructure_Bresch
 
GIB2015_Closing Financing Gap in Resilient Infrastructure_Arikan
GIB2015_Closing Financing Gap in Resilient Infrastructure_ArikanGIB2015_Closing Financing Gap in Resilient Infrastructure_Arikan
GIB2015_Closing Financing Gap in Resilient Infrastructure_Arikan
 
GIB2015_Closing Financing Gap in Resilient Infrastructure_Ahoobim
GIB2015_Closing Financing Gap in Resilient Infrastructure_AhoobimGIB2015_Closing Financing Gap in Resilient Infrastructure_Ahoobim
GIB2015_Closing Financing Gap in Resilient Infrastructure_Ahoobim
 

Último

Nicola Mining Inc. Corporate Presentation March 2024
Nicola Mining Inc. Corporate Presentation March 2024Nicola Mining Inc. Corporate Presentation March 2024
Nicola Mining Inc. Corporate Presentation March 2024nicola_mining
 
WWW.SOFTSOP.COM PITCH DECK PRESENTATION.PDF
WWW.SOFTSOP.COM PITCH DECK PRESENTATION.PDFWWW.SOFTSOP.COM PITCH DECK PRESENTATION.PDF
WWW.SOFTSOP.COM PITCH DECK PRESENTATION.PDFMichael Claudio
 
Deutsche EuroShop | Company Presentation | 03/24
Deutsche EuroShop | Company Presentation | 03/24Deutsche EuroShop | Company Presentation | 03/24
Deutsche EuroShop | Company Presentation | 03/24Deutsche EuroShop AG
 
Advancing Discovery New Craigmont Project’s High-grade Copper Potential
Advancing Discovery New Craigmont Project’s High-grade Copper PotentialAdvancing Discovery New Craigmont Project’s High-grade Copper Potential
Advancing Discovery New Craigmont Project’s High-grade Copper Potentialnicola_mining
 
Osisko Gold Royalties Ltd - Corporate Presentation, March 2024
Osisko Gold Royalties Ltd - Corporate Presentation, March 2024Osisko Gold Royalties Ltd - Corporate Presentation, March 2024
Osisko Gold Royalties Ltd - Corporate Presentation, March 2024Osisko Gold Royalties Ltd
 
Deutsche EuroShop | Preliminary Results FY 2023
Deutsche EuroShop | Preliminary Results FY 2023Deutsche EuroShop | Preliminary Results FY 2023
Deutsche EuroShop | Preliminary Results FY 2023Deutsche EuroShop AG
 
Terna Capital Markets Day 2024 Presentation
Terna Capital Markets Day 2024 PresentationTerna Capital Markets Day 2024 Presentation
Terna Capital Markets Day 2024 PresentationTerna SpA
 

Último (7)

Nicola Mining Inc. Corporate Presentation March 2024
Nicola Mining Inc. Corporate Presentation March 2024Nicola Mining Inc. Corporate Presentation March 2024
Nicola Mining Inc. Corporate Presentation March 2024
 
WWW.SOFTSOP.COM PITCH DECK PRESENTATION.PDF
WWW.SOFTSOP.COM PITCH DECK PRESENTATION.PDFWWW.SOFTSOP.COM PITCH DECK PRESENTATION.PDF
WWW.SOFTSOP.COM PITCH DECK PRESENTATION.PDF
 
Deutsche EuroShop | Company Presentation | 03/24
Deutsche EuroShop | Company Presentation | 03/24Deutsche EuroShop | Company Presentation | 03/24
Deutsche EuroShop | Company Presentation | 03/24
 
Advancing Discovery New Craigmont Project’s High-grade Copper Potential
Advancing Discovery New Craigmont Project’s High-grade Copper PotentialAdvancing Discovery New Craigmont Project’s High-grade Copper Potential
Advancing Discovery New Craigmont Project’s High-grade Copper Potential
 
Osisko Gold Royalties Ltd - Corporate Presentation, March 2024
Osisko Gold Royalties Ltd - Corporate Presentation, March 2024Osisko Gold Royalties Ltd - Corporate Presentation, March 2024
Osisko Gold Royalties Ltd - Corporate Presentation, March 2024
 
Deutsche EuroShop | Preliminary Results FY 2023
Deutsche EuroShop | Preliminary Results FY 2023Deutsche EuroShop | Preliminary Results FY 2023
Deutsche EuroShop | Preliminary Results FY 2023
 
Terna Capital Markets Day 2024 Presentation
Terna Capital Markets Day 2024 PresentationTerna Capital Markets Day 2024 Presentation
Terna Capital Markets Day 2024 Presentation
 

IFC - Advisory and Financial Instruments by Nebojsa Arsenijevic at GIB Summit

  • 1. IFC's Advisory and Financial Instruments RE Market Development and Risk Management - example of activities in the Western Balkans - Nebojsa Arsenijevic International Finance Corporation Global Infrastructure Basel Basel, May 22, 2014
  • 2. 2 IFC: Part of the World Bank Group IBRD International Bank for Reconstruction and Development IDA International Development Association IFC International Finance Corporation MIGA Multilateral Investment and Guarantee Agency Est. 1945 Est. 1960 Est. 1956 Est. 1998 Role To promote institutional, legal and regulatory reform To promote institutional, legal and regulatory reform To promote private sector development To reduce political investment risk Clients Governments of member countries with per capita income between $1,025 and $6,055 Governments of poorest countries with per capita income of less than $1,025 Private companies in member countries Foreign investors in member countries Products • Technical Assistance • Loans • Policy Advice • Technical Assistance • Interest Free Loans • Policy Advice • Equity/Loans • Risk Management • Advisory Services • Political Risk Insurance
  • 3. IFC is a Leading Investor in Emerging Markets Power • 300+ power investments in 67 countries since 1967 • We typically invest in utility-scale projects/companies:  Generation – Financed 30,000+ MW across wide range of technologies  Transmission – Selected investments in transmission assets  Distribution - Current power portfolio of ~160 million customers around the world • We can also invest in:  Early stage start ups in the renewable energy space  Smaller assets/companies through financial intermediaries (banks, PE funds)  We often invest in first-in-kind projects in markets under reform 3
  • 4. Key Trends in IFC Power Business IFC Investment Services 4 • Commitment volume has been steadily growing; renewable energy investments increased 5x since 2007; 65% to 75% of power business, up from ~25% 5 years ago • Mobilization has been an increasingly important part of our business; we mobilized $1.7 billion in B-loans and other parallel loans in FY2011 • We have been developing locally based teams with market expertise • Greater technology diversification: not just hydro and wind, but also geothermal, solar, and biomass • In-house technical expertise allows us to better appraise investments in new and emerging technologies / prototypes • Investments through financial intermediaries (e.g. private equity funds, holding companies) an increasing share of our business; allow us to support smaller companies / projects
  • 5. 5 Identified Obstacles Political Obstacles • Incomplete legal framework • Lack of institutional capacity • High political risk RE Developers/Sponsors • Technical capacity • Financial capacity • Proper market assessment Local Banks • Capacity relating to RE project • Experience in Project Finance • Long-term funding
  • 6. 6 AS - Balkans Renewable Energy Program (BREP) Component Activities C1 Regulatory framework improvements C2 Support to renewable energy sponsors (Market and company level) C3 Support to financial institutions (Market and bank level) BREP Countries ALB Albania* BIH Bosnia and Herzegovina* MAC Macedonia** MNE Montenegro*** KOS Kosovo*** SRB Serbia*** MDA Moldova*** (limited scope) * Started FY10; ** Started FY12; *** Started FY13
  • 7. 7 BREP’s Key Results – Legal Framework Country Legal Document Enacted SRB Decree on Feed-in Tariffs Decree on Privileged Status Decree on End-User Fee Calculation Preliminary PPAs (below and above 5 MW) Jan, 2013 Jun, 2013 ALB Law on Renewable Energy May, 2013 BIH (RS) Law on Renewable Energy and Efficient Cogeneration Law on Concessions May, 2013 Jun, 2013 BIH (FBIH) Law on Renewable Energy and Efficient Cogeneration Sep, 2013 Targets: • Align national regulation with EU; Fulfill obligations in accordance to EC Treaty of SEE; • Design appropriate incentive mechanisms; • Increase transparency of concessions granting procedure (credibility); • Design investment promotion tools and mechanisms for SHPPs; • Decrease collateral requirements;
  • 8. 8 BREP’s Key Results – Support to Sponsors Country Activity Type ALB B2B – Linking international and local SHPP companies Registration of Programmatic CDM for SHPPs Review of the Feasibility study for a cascade of seven SHPPs Market Company Company SRB Analysis of biogas plants costs and incomes in Serbia Market BIH Support in SHPP tender preparation Review of the Preliminary design for a cascade of three SHPPs Market Company MAC Pre-feasibility study preparation for biomass plant Company Market Level Interventions Company Level Interventions • B2B workshops • Support to Associations • Knowledge sharing • Promotion of new technologies • Designs cross-check and review • Business plan preparation • E&S assessment • CDM projects registration
  • 9. 9 BREP’s Key Results – Support to Banks Country Activity Type ALB Country level workshop Training and support to Credins Bank Training and support to Intesa Bank Market Company Company BIH Country level workshop Market KOS Country level workshop Market MAC Country level workshop Market MNE Country level workshop Market SRB Country level workshop Market Market Level Interventions Bank Level Interventions • Training material development • Integration of Regulatory/ Budgeting/ Engineering and Risk in the Finance Manual • Country level workshops • In-depth training focused on SHPPs and project finance • Support in SHPP assessment • Portfolio analysis and recommendations
  • 10. 10 IFC’s Infra Venture (IV) Objectives $ 150 MM Global Infra Fund 20-30% of dev. costs (up to $ 8 MM) IFC IV equity at fin. close Eligibility Activities PPP or private infrastructure (IDA or MIC) Early stages of development Type of projects: • Agreement with Gvt • Tendered by the Gvt • Need of surrogate sponsor at initial stages feasibility studies and pilot tests economic, social, technical and environmental studies Financial modelling Obtaining required permits
  • 11. 11 Objectives Catalyze investments Address market barriers Achieve demonstratio n effect Approach FY13 Results Blend donor funds alongside IFC investments Disciplined, targeted, & strategic Examples: • Lower interest • Longer tenor • Contractually subordinated loan alongside IFC To support total project size $2.5B Blended with $600M IFC financing $130M concession. funds Blended Finance for Climate Projects Concessional funds take higher risk than IFC’s own funds
  • 12. 12 World Bank Group’s facilities (IBRD, MIGA) IBRD/IDA Partial Risk Guarantees (PRG) MIGA Partial Risk Guarantee Main Objectives: • Back Government obligations • Cover private debt against a Gvt’s obligations to private or public prj • Improve overall credit quality of project-partial use of AAA mitigant • Enable viability and bankability through strong risk mitigation Risks Covered: • Gvt’s contractual payment obligations: payments, termination, subsidies, etc. • Regulatory Risk: change in law, negation of license, tariff adjustment • Currency Risk • Political Force Majeure: expropriation, war & civil disturbance • Frustration of arbitration Main Objectives: • Focusing on sustainable development • Difficult or frontier markets • Investments in poorest countries • Supporting infrastructure projects - both the sovereign and sub-sovereign • Promoting cross-border investments between developing countries Risks Covered: • Currency Transfer Restriction and Inconvertibility • Expropriation • War and Civil Disturbance • Breach of Contract • Non-Honoring of Sovereign Financial Obligations
  • 14. 14 Legal Docs Drafting C1 – Regulatory Level Business to Business C2 – Market Level Programmatic CDM C2 – Company Level Equity Investment IFC IS C3N Country Level Workshop C3 – Market Level In-depth + Assessment C3 – FI Level Dedicated RE Loan IFC IS FM AS ISExample: ENSO HYDRO Example: CREDINS BANK Approach in transforming the market
  • 15. 15 Selection of IFC’s Recent Regional RE Investments • SHPPs in Albania owned by the Austrian enso G.m.b.H  Installed power up to 50 MW  Investment value up to EUR 100 million  IFC equity investment EUR 6 million • Wind power plant Sibenik in Croatia owned by the Austrian RP Global Holding  Installed power 44 MW  Investment value EUR 84 million  IFC loan EUR 20 million; mobilized additional EUR 35 million • Wind power plant Jelinak in Croatia owned by the Spanish Acciona S.A.  Installed power 30 MW  Investment value EUR 55 million  IFC loan EUR 20 million; mobilization of additional EUR 25 million • HPP privatization in Albania by the Turkish Kurum International  Installed power 77 MW  Investment value EUR 120 million  IFC loan EUR 30 million; mobilization of additional EUR 66 million
  • 16. 16 Challenges in RE (SHPP) Development Design vs. Operation (or estimated vs. actual generation)