Power Purchase Agreements

3 days 4-6 Sep 2018, London UK £3,395.00 + VAT* Download brochure Add to basket

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Throughout the course, we will draw on a database of some 80 PPAs from around the world
covering all type of power generation technologies. We will further discuss case studies from
Emerging Markets and compare them with international experience in the power sector. The
seminar experience will require interactive involvement of the delegates to discuss cases, conduct excel exercises and thorough reading of legal PPA documents.


  • Power Market Liberalization
  • IPP experience and PPP schemes
  • Requisites of a bankable PPA
  • PPA and fit into the overall project set-up
  • Understanding the link to Project Finance
  • Understanding the link to EPC agreements
  • Questionable Practices IPP Procurement



  • Review of lessons learned in Emerging Market IPP projects
  • A Comparison of Competitive Tenders and Direct Negotiations
  • Successful tendering program in South Africa, Mexico and Brazil

Who should attend

  • Business analysts
  • Business development and marketing managers
  • Commercial managers
  • Consultants
  • Contract managers
  • Corporate and project financing personnel
  • Economists
  • Engineers
  • External legal counsel
  • In-house legal counsel
  • Project managers
  • Regulators
  • Government officials

Attendance is a must for senior personnel involved in power projects.


We work with a series of expert instructors, please select the course location of interest to review the credentials of who will be delivering the programme.

Christian Grütte

Christian is an independent financial advisor with some 18 years’ experience in the power & renewable sector.
He started out his career in a leading North European Strategy Consultancy, where he made substantial contributions to build the energy practice within the firm. He developed and implemented innovative distributions concepts for utility clients to face the competitive challenges of the newly liberalized German electricity market.

In 2002, anticipating the tectonic shifts to arrive in the energy sector by renewables, Christian decided to set-up
his own advisory boutique to serve exclusively the renewable energy sector. In the following years, Christian,
supported world leading Utilities, IPPs and Private Equity Investors, such as Iberdrola, AES, RWE, OMV, Englefield
Capital and Hudson Clean Energy Partners to thoroughly assess international market opportunities and
successfully assemble project portfolios across mature and emerging European renewable markets. Based on
this work his clients were able to realize their investment strategy via the acquisition of local partners, greenfield
and operating wind, solar, biomass, geothermal or hydro projects with pipelines of many thousands MW

Christian became a recommended speaker at leading international energy conferences on topics of market
attractiveness and investment drivers for renewables. He formed part of the Working Group ‘Financing the
Energy Turnaround’ in Frankfurt and was one of the first members of the European Technology Platform for
Wind Energy, as well as of EWEA, ACORE, LAWEA, EUBIA, ESHA and EGEC.

Since ten years, Christian, focuses on the particular challenges of power projects in emerging markets, such as
Bulgaria, Turkey, Egypt, Georgia, New Zealand, Taiwan, South Korea, Mexico, South Africa or Pakistan. He flags
risks to international investors coming from regulatory environment, grid connection and competitors. Developers are supported to raise equity, mitigates risks via the creation of international project consortia and achieve project finance bankability with domestic and international lenders.

Since five years, Christian has successfully delivered energy finance training to hundreds of executives from more
than 80 countries in plus 50 seminars in the UK, Germany, Spain, Italy, Denmark, The Netherlands, UAE, the US,
Chile, Mexico, Brazil, South Africa, Egypt, Georgia, Cote d’Ivoire, Indonesia and Hong Kong. Additionally he served
as a lecturer in the Renewable Energy Finance Studies Program of the Frankfurt School of Finance and

Delegates come from leading financial institutions, industrial corporations and governments such as e.g.
IFC, FMO, GIZ, IFU, Obviam, KfW, HBOR, European Investment Bank, UNDP, Asian Development Bank, African
Development Bank, African Finance Corporation, JBIC, Industrial Development Corporation, Banco Santander,
Enel, E.ON, Vattenfall, Endesa, Eskom, Total, Sumitomo, Gamesa, Siemens, Akka Enerji, Akzo Nobel, BP, Shell,
Abengoa, Energomontaza, Mitsubishi, SgurrEnergy, PwC, Investec, RES, The Crown Estate, Coca-Cola,
Procter&Gamble, Pacific Gas & Electric, Omrom, OFGEM, Munich Re, AES, Alstom, Schneider Electric, Aveng
Group, Air Liquide, NEPRA, Saudi Aramco, King Saud University, Swicorp, Qatar Petroleum, K.A. CARE.
Some of the topics delivered include Renewable Technologies & Economics, Independent Power Projects, Project
Finance, Financial Analysis & Structuring, Risk Mitigation, Loan Term Sheets Elements, Power Purchase
Agreements, EPC and O&M contracts, Resource Assessments, Government Tenders and Policy Incentives,
Electricity Market Structures & Liberalization, Electricity Pricing, Project Transactions & Valuations, Innovative
Renewable Business Models.

Due to his versatile experience and personality, Christian has the ability to quickly relate to and leverage different
cultural and professional backgrounds of delegates. His objective is not only to train passionately on fascinating
energy finance topics, but to deliver a seminar experience, where delegates weave together as a group of persons
and exchange not merely business cards, but ideas to spur business beyond.

Christian holds an MSc in Industrial Engineering and Management from the Technical University of Berlin and is
a qualified RYA Yachtmaster Ocean Instructor. He is trilingual in English, Spanish and German and conversational
in French.



Central London Hotel Venue

All courses are held at four or five star venues in Central London, Zone 1. We strive to provide you with a training environment of the highest quality, to ensure that the whole learning experience exceeds your expectations.

Your training venue will be confirmed by one of our course administrators approximately 3-4 weeks before the course start date. If you need help booking accommodation for your visit to our training courses, please contact accommodation@euromoneylearningsolutions.com and one of our partners will help you get the best rate possible.

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To find out more about running this course in-house:

Our Tailored Learning Offering

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We produce learning solutions that are completely unique to your business. We'll guide you through the whole process, from the initial consultancy to evaluating the success of the full learning experience. Our learning specialists ensure you get the maximum return on your training investment.


We can offer any of our public courses delivered at your office or we can devise completely tailored solutions:

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  • Overall structure of a PPA
  • PPA Definitions
  • PPA Milestones and Delays
  • Tolling and Wheeling Agreements
  • Impact of Dispatchable and Non-dispatchable power technologies
  • Contract for Differences (CfD)
  • Feed-in Tariffs


  • Tariff Structures & Escalators
  • Levelized cost of electricity
  • Capacity and Energy Charge
  • Seasonal weighting factors in a PPA
  • Calculation of Deemed Capacity and Deemed Energy
  • Bonus and Penalty mechanisms
  • Invoicing, Billing and Payments
  • Tax Exemptions
  • Purchasers Affordability of PPA payment obligations


  • Review and critical discussion of Bujagali Hydropower plant in Uganda
  • Comparison of Solar PPA between South Africa and Egypt


  • Credit Support for Offtaker Obligations
  • Credit Support for the Project Company's Obligations
  • The need for Indexation and multiple currency PPA – “Review of Egyptian Solar PPA
  • indexation”
  • Government guarantees: “Backstopping the payment obligations of Tobene Power Project,
  • Senegal”
  • Partial Risk Guarantee: “Addressing Transmission Line Delay Risk With A Partial Risk
  • Guaranteein Lake Turkana Wind project in Kenia”
  • MIGA Political Risk Insurance: “Backstop ongoing payment obligations under KPLC PPAs for
  • Thika, Triumph and Gulf Power in Kenya”
  • Export Credit Agencies – “Last man standing: How Euler Hermes saved Round 1 Egyptian 50
  • MW solar project”
  • Developments Finance Institutions and Multilateral Banks “Rebuilding government reliability
  • via the Renewable Energy Trust fund from Argentina and the World Bank”
  • Currency risk hedging – IFC currency swaps
  • Currency risk guarantee fund – Indian Government to pool a solar dedicated hedge fund
  • Local currency lending – GuarantCo and TCX as important door openers
  • Internal liquidity facility – “Escrow Account for Azito Power Plant Cote d’Ivoire to collect
  • sector revenues”
  • External liquidity facility – “resolving short-term cash flow shortfall problems via the
  • Regional Liquidity Support Facility”
  • Liquidity guarantee to support West Nile Rural Electrification Project in Uganda
  • Put option, grant and convertible grant, Resource guarantee fund, Portfolio guarantee –
  • “Sarulla Geothermal Power Plant and the Indonesia Infrastructure Guarantee Fund”


  • Commissioning process, Acceptance and Performance testing.
  • Procurement of Electricity
  • Measurement and definition of capacity, availability and output
  • Metering and delivery point
  • Heat rate
  • Comparison of start rates, control of output and storage
  • Requirements for fuel specifications and quality
  • Maintenance programs for power generation plant
  • Off-take agreements for heat and certificates
  • Curtailment Provisions, Grid discipline and penalties


  • Resolving Disputes
  • International Arbitration and Investment Agreements
  • Lenders Step-in Right
  • Cure Periods and Step-In Period
  • Local Content
  • Confidentiality
  • Boilerplate Provisions
  • Environmental & Social Requirements
  • Decommissioning requirements


  • Buyer Default
  • Seller Default
  • Put and Call options and pricing
  • Post-Termination Obligations
  • Non-default Events
  • Lender Rights


  • Development and Construction Phase Risks
  • Land lease agreements for land, cable routes and substation sites
  • Liquidated damages
  • Operational Phase Risks
  • Other Risks
  • Force Majeure
  • Insurance under construction and under operation
  • GROUP WORK: Detailed Risk Assessment of a PPA for a new power plant


  • Importance of preparation
  • Define your must-obtain objectives and deal breakers
  • Best Alternative to a Negotiated Agreement
  • Conflict between the stakeholders – risk, margin, returns
  • Difference between issues, positions and interests
  • Win-win negotiations – understand the other side
  • Don’t over negotiate, the aim of a sustainable agreement
  • The Satisfaction triangle – procedural, emotional, substantive
  • Driving the process – criteria, timings, approvals
Why us

We have a combined experience of over 60 years providing learning solutions to the world’s major organisations and are privileged to have contributed to their success. We view our clients as partners and focus on understanding the needs of each organisation we work with to tailor learning solutions to specific requirements.

We are proud of our record of customer satisfaction. Here is why you should choose us to help you achieve your goals and accelerate your career:

  • Quality – our clients consistently rate our performance ‘excellent’ or ‘outstanding’. Our average overall score awarded to us by our clients is nine out of ten.
  • Track record – we have delivered training solutions for 95% of worlds’ top 100 banks and have trained over 250,000 professionals.
  • Knowledge – our 150 strong team of industry specialist trainers are world leading financial leaders and commentators, ensuring our knowledge base is second to none.
  • Reliability – if we promise it, we deliver it. We have delivered over 20,000 events both in person and online, using simultaneous translation to delegates from over 180 countries.
  • Recognition – we are accredited by the British Accreditation Council and the CPD Certification Service. In an independent review by Feefo we scored 96% on service and 95% on product