5-23-14 MASTER Renewable Energy Financing

8/12/2019 5-23-14 MASTER Renewable Energy Financing

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NFO Vngnwkfan Ngnrhy Trihrkj

Ngvlrigjngtka Fuslgnss Oiugola ie Gnw NghakgbNgnrhy Ngvlrigjngt Noigijy

Lgongtlvns kgb Elgkgolgh eirVngnwkfan Ngnrhy Bnvnaipjngt



Lgtribuotlig


_tnvn FkrrnttTrihrkj O`klr & Jibnrktir

Blrnotir, Oankg Ngnrhy

@krrls Jlaanr Jlaanr kgb @kgsig, Lgo.



HVNNG NGNVH\

_tnp`ng FkrrnttBlrnotir ie Oankg Ngnrhy@krrls Jlaanr Jlaanr & @kgsig

Ngvlrigjngtka Fuslgnss Oiugola ie Gnw NghakgbLgongtlvns kgb Elgkgolgh eir Vngnwkfan Ngnrhy

Erlbky Jky 6?, 64;2



@kvn wn `lt rioc fittij9



Ls oaljktn o`kghn rnka9



_uppirt eir Ngnrhy Tialolns



Krn yiu wlaalgh ti pky jirn eir oankgngnrhy9



Vnb _tktns kgb Faun _tktns



Rkx Ornblts ‟ R`n Aygo`plg eirEnbnrka Vngnwkfan Ngnrhy

Elgkgolgh Tialoy

Ckt`y TkrcnrTkrtgnr

Vibjkg kgb Vibjkg OTK




HVNNG NGNVH\ RKP _NVULON_Enbnrka Lgongtlvns & Rkx Ljpaloktligs

Trnsngtnb fyCkt`y Tkrcnr, OTK, J_R



Hrnng Lgongtlvns kgb Ornblts eir Fuslgnssns

ENBNVKA LGONGRLUN_

Oipyrlh`t Vibjkg & Vibjkg, T.O. Kaa Vlh`ts Vnsnrvnb. ;;



Fuslgnss Ngnrhy Lgvnstjngt Rkx Ornblt ‟ _notlig 20

Ls t`n pripnrty=

;. [ukalelnb flijkss96. [ukalelnb sjkaa wlgb turflgns9?. _iakr usnb ti hngnrktn nanotrlolty eir ̀ nktlgh

ir oiialgh ir ti privlbn siakr prionss `nkt92. It`nr Tripnrty alstnb ig gnxt salbn9

Blb t`n tkxpkynr lgvnst lg

katnrgktlvn ngnrhypripnrty ti hngnrktn piwnr

eir lts iwg usn9

Xks t`n pripnrty pakonb lg snrvlonig ir fneirn Bnonjfnr ?;, 64;59

?4% ornblt(;4% eir siakr ketnr 64;5)

;4% ornblt

Ls t`n pripnrty=;. Nqulpjngt eir pribuolgh ir blstrlfutlgh

hnit`nrjka ngnrhy96. Nqulpjngt t`kt usns t`n hriugb ir hriugb wktnr

ti `nkt ir oiia k struoturn9?. [ukalelnb jlori-turflgns (sjkaa oijfustlig)92. Oijflgnb `nkt kgb piwnr systnjs9

GI

\N_

Gi kbbltligka fngneltkvklakfan

GI

GI

Gitn t`kt t`n ornblt eir hnit`nrjka pripnrty,

wlt` t`n nxonptlig ie hnit`nrjka `nkt pujps,

`ks gi stktnb nxplrktlig bktn.

\N_

\N_

\N_

\N_

GI

\N_



Lgvnstjngt Rkx Ornblt Lssuns _ujjkry

▽ _iakr, Akgbelaa Hks, Xlgb, Flijkss, @ybrinanotrlo, Hnit`nrjka

Nanotrlo, Euna Onaas, Hnit`nrjka @nkt Tujps, Juglolpka _ialbXkstn, O@T/Oihngnrktlig, @ybriclgntlo Tiwnr (l.n., EaiwlghXktnr), Kgknriflo Blhnstlig, _jkaa @ybrinanotrlo, Rlbka Ngnrhy,Xkvn Ngnrhy, Ionkg R`nrjka, Euna Onaas uslgh VngnwkfanEunas, Jloriturflgns,

▽ Gi rnqulrnjngt eir t`lrb-pkrty skans▽ Gi rnbuotlig ie ornblt eir sufslblznb ir tkx-nxnjpt elgkgolgh

▽ Gi iwgnrs`lp rnqulrnjngt

▽ _truoturlgh kvklakfan ti jigntlzn t`n ornblt

▽ >4% fksls rnbuotlig lg t`n pripnrty

▽ Koonanrktnb elvn-ynkr alen▽ Ornblt ls ;44% ieesnt ti KJR



Bnprnolktlig

• Figus Bnprnolktlig nxplrnb ngb ie 64;?

• _iakr bnprnolktnb ivnr > ynkr alen ugbnr koonanrktnbbnprnolktlig

• Koonanrktnb Bnprnolktlig



Tkyjngts eir _pnolelnb Ngnrhy Tripnrty lgAlnu ie Rkx Ornblts - _notlig ;54?

Xks t`n pripnrtypakonb lg snrvlon fntwnng

;/;/644<kgb ;6/?;/64;;9

Blb t`n tkxpkynr iwg kspnolelnb ngnrhy

pripnrty9

Hrkgt kjiugt nquka ti

;4% ir ?4% ie t`n tkxfksls ie t`n nalhlfan

pripnrty, bnpngblgh igt`n typn ie pripnrty

Le oigstruotlig ie t`n pripnrtyfnhkg* fntwnng ;/;/644< kgb;6/?;/64;;, wks t`n pripnrtypakonb lg snrvlon ketnr 64;;

kgb fneirn t`n ornblttnrjlgktlig bktn9

GI

\N_

\N_

Gi kbbltligka fngneltkvklakfan

GI

GI

;. _pnolelnb ngnrhy pripnrtlns krn bnprnolkfanpripnrtlns t`kt krn, kjigh it`nrs, pkrt ie

kg nanotrlolty pribuotlig ekolalty uslgh wlgb,flijkss, hnit`nrjka ir siakr ngnrhy, ironrtklg piwnr pakgts uslgh euna onaas irjlori-turflgns.k. [ukalelnb pripnrty lgoaubns nxpkgsligs

ie kg nxlstlgh pripnrty t`kt ls qukalelnbpripnrty ugbnr §2> ir §20 ie t`n LVO.

6. Eir pripnrty pakonb lg snrvlon lg 644< -64;; IV eir pripnrtlns t`kt wnrn gitpakonb lg snrvlon lg 644< - 64;; fut eirw`lo` oigstruotlig fnhkg lg 644< - 64;;,

kppaloktligs just fn sufjlttnb ketnr t`npripnrty `ks fnng pakonb lg snrvlon kgbfneirn Iotifnr ;, 64;6.

?. Nalhlfan pnrsigs just fn t̀ n iwgnr iranssnn ie t`n pripnrty kgb just `kvnirlhlgkaay pakonb t`n pripnrty lg snrvlon.

2. _nn`ttp=//www.trnksury.hiv/lgltlktlvns/rnoivnry/Tkhns/;54?.kspx eir jirn lgeirjktligrnhkrblgh ornblt tnrjlgktlig bktns kgbkppalokfan pkyjngt pnrongtkhns.

>. Lgbnpngbngt kooiugt kttnstktlig eir primnotoists fntwnng $>44c kgb $;jjls rnqulrnb lg t`n eirj ie khrnnb upigprionburns3 7$;jj rnqulrn kg kublt rnpirt.

\N_

*_ken `krfir privlsligs snt t`n fnhlgglgh ieoigstruotlig kt t`n pilgt w`nrn t`n kppalokgt`ks lgourrnb ir pklb kt ankst >% ie t`n titkaoist ie t`n pripnrty, nxoaublgh akgb kgbonrtklg prnaljlgkry pakgglgh kotlvltlns.

**Le t`n titka oist ngbs up fnlgh jirn t`kgirlhlgkaay nstljktnb w`ng bntnrjlglgh t`n>%, t`n sken `krfir okg fn faiwg.



;54? ‟ Ernqungtay Kscnb [unstligs erij ^_ Rrnksury Xnfsltn

[unstlig= Krn jkguekoturnrs ie spnolelnb ngnrhy pripnrty nalhlfan kppalokgts9

▽ Tkyjngts krn igay kvklakfan ti ngtltlns t`kt pakon spnolelnb pripnrty lgti snrvlon.Jkguekoturnrs t`kt pribuon spnolelnb pripnrty fut bi git pakon lgti snrvlon bi gitqukaley eir t`n ;54? Tkyjngt.

[unstlig= Okg k anssnn ie nalhlfan pripnrty rnonlvn pkyjngt9

▽ \ns, le t`n anssir/iwgnr ie t`n pripnrty wklvns t`nlr rlh`t ti pkyjngt kgb nanots tipkss lt ig ti t`n anssnn kgb t`n pripnrty lg qunstlig ls nalhlfan.

[unstlig= Ls k pkrtgnrs`lp t`kt `ks k eirnlhg ngtlty ks k pkrtgnr nalhlfan9

▽ \ns, ks aigh ks t`n eirnlhg ngtlty ls git tkx-nxnjpt.

[unstlig= Le k fuslgnss rnonlvns k snotlig ;54? pkyjngt eir ngnrhy pripnrty usnb kt k

rnslbngtlka rngtka pripnrty, kgb sufsnqungtay snaas t`n rnslbngtlka pripnrty ti t`n tngkgtwlt`lg elvn ynkrs, wlaa t`n fuslgnss fn rnqulrnb ti rnturg kaa ir pkrt ie t`n ;54?pkyjngt9

▽ \ns. R`n pripnrty onksns ti fn spnolelnb ngnrhy pripnrty w`ng siab ti k pnrsig w`iokggit bnprnolktn fnokusn ie pnrsigka usn ie t`n pripnrty.



_RV^OR^VLGH ITRLIG_

LRO JIGNRL]KRLIG

ENBNVKA LGONGRLUN_

Oipyrlh`t Vibjkg & Vibjkg, T.O. Kaa Vlh`ts Vnsnrvnb. ;8



Tksslvn vs. Kotlvn

• Tksslvn lssuns

• Just jktnrlkaay pkrtlolpktn ti fn kotlvn

• Rrnksury `ks ruans/tnst

• >44 `iurs ie bky ti bky jkgkhnjngt

• Aljlts aissns kgb ornblts t`riuh` Tksslvn Kotlvlty Aiss(TKA)

• TKA okg fn ieesnt khklgst it`nr Tksslvn Lgoijn

• Aissns okg fn okrrlnb eirwkrb

• Ornblts okg fn okrrlnb eirwkrb (okrrlnb fkoc ; ynkr,okrrlnb eirwkrb 64 ynkrs) ‟ Just okrryfkoc.



RKP N[^LR\

• Aljltktlig ig ornblt eir t`isn w`i `kvn aissns• @krb ti elgb

• _ijn bnkas krn ‑tii sjkaa‚

• Tksslvn lssuns

• Kt Vlsc Vuans

• Vnoiursn bnft (kt ankst 04%)• Rkx _truoturn

• Tkrtgnrs`lp ealp

• _kan ‟ anksn fkoc

• Lgvnrtnb anksn

• Oigslbnr fugbalgh primnots



Bnvnaipnr Rkx NqultyLgvnstir

Trimnot

^tlalty

_tktn/Aioka

Lgongtlvns

GigtkxHivnrgjngt

_ufslby

Lgtnrnst &Trlgolpka

Fkoc Anvnrkhn

Vnturgs

Eugblgh

Trimnot Bnft

Lgtnrnst & Trlgolpka

jX` $/jX`

Nqulty Lgvnstjngt

Rkx Fngnelt/Hrkgt

Nqulty Ealp Tkrtgnrs`lp (TRO & LRO)

R`ls struoturn privlbns t`n tkx lgvnstir wlt` spnolka kaaioktligs ie t`n ornblts kgb bnprnolktlig lg irbnrti privlbn k rnturg ig t`nlr lgvnstjngt, kat`iuh` t`ny wlaa fnkr sijn kjiugt ie ipnrktligs rlsc burlght`n nkray ynkrs, w`lan t`n bnvnaipnr ls kfan ti jigntlzn t`n tkx fngnelts t`kt oiuab git fn utlalznb kgbfnkrs t`n ipnrktlgh rlsc t`riuh`iut t`n lgvnstjngt.

Gitn= Enbnrka lgoijn tkx ruans just fn eiaaiwnb eir t`n struoturn kgb kaaioktligs ti fn rnspnotnb3 t`ls

struoturn jky git wirc eir tkx-nxnjpt lgvnstirs.



Nqulty Ealp Tkrtgnrs`lp (Oigt.)

EIVJKRLIG=

• R`n Rkx Nqulty Lgvnstir“s oigtrlfutlig lsbnrlvnb fksnb ig kgtlolpktnb rnturg=

• Oks`

• Rkx Ornblts

• _KAR Lgongtlvns

• Bnprnolktlig Bnbuotligs

\NKV ;=

• Rkx Nqulty Lgvnstir rnonlvns ksufstkgtlka pnrongtkhn ie=

• Oks`

• Rkx Ornblts

• _KAR Lgongtlvns

• Bnprnolktlig Bnbuotligs

T_@T

Bnvnaipnr

RkxNqultyLgvnstir

Bnvnaipnr

RkxNqultyLgvnstir

@lh`nr %

Aiwnr %

T_@T



Nqulty Ealp Tkrtgnrs`lp (Oigt.)

KERNV VKRN IE VNR^VG L_ KO@LNUNB=

• R`n pkrtgnrs`lp kaaioktligs ‑ealp‚ ti prnvliusay khrnnb upig

pnrongtkhns

• Bnvnaipnr `ks iptlig ti puro`ksn Nqulty Lgvnstir“s lgtnrnst lg t`npkrtgnrs`lp

Bnvnaipnr

RkxNqulty

Lgvnstir

‑Ealp‚ lgornksns %

‑Ealp‚ bnornksns %

T_@T

Tkrtgnrs`lp pitngtlkaay tnrjlgktns upig nxnrolsn ie iptlig.



Bnvnaipnr(_naanr, Anssnn)

Rkx NqultyLgvnstir

(Iwgnr)

^tlalty

_tktn/AiokaLgongtlvns

GigtkxHivnrgjngt

_ufslby

Vnka VnturgsjX`$/jX` Rkx Fngnelt/Hrkgt

Trimnot

_kanTrionnbs

AnksnTkyjngts

_kan Anksnfkoc (LRO Igay)

Lg t`ls struoturn, t`n tkx lgvnstir ls t`n iwgnr/anssir kgb, ks suo`, ls ngtltanb ti t`n ornblts kgb bnprnolktlig.R`n tkx lgvnstir eurt`nr fngnelts fy fnlgh kfan ti jltlhktn ipnrktligs rlsc t`riuh` aioclgh lg puro`ksn prlonkgb strnkj ie rngtka pkyjngts. R`n bnvnaipnr ls kfan ti rnonlvn up-erigt prionnbs erij t`n skan iepripnrty, w`lan trkgsenrrlgh euaa iwgnrs`lp ie t`n pripnrty. R`ls trkgskotlig just ioour wlt`lg <4 bkys ie t`nirlhlgka pakonb-lg-snrvlon bktn.

Gitn= K TTK s`iuab fn nxkjlgnb eir skan ie nanotrlolty ti k t`lrb pkrty ti jltlhktn pitngtlka prlon s`lets.

*Vnokpturn pitngtlka ie ornblt le bnvnaipnr fuys fkoc t`n pripnrty lg k onrtklg tljn pnrlib.



_kan Anksnfkoc (Oigt.)

▽ R`n bnvnaipnr snaas nalhlfan nqulpjngt ti

Rkx Nqulty Lgvnstir kt rntkla.▽ Rkx Nqulty Lgvnstir sufsnqungtay anksns

fkoc ti bnvnaipnr

▽ Rkx Nqulty Lgvnstir fngnelts fy rnkplghtkx ornblts, _KAR lgongtlvns, bnprnolktligbnbuotligs, kgb pkyjngts

▽ Rkx Nqulty Lgvnstir=

;.Vnspigslfan eir kaa okpltka lgeuslig6.Okaouaktns anksn pkyjngts ti ko`lnvn

rnturg

Rkx NqultyLgvnstirBnvnaipnr Nqulpjngt

Nqulpjngt _kan

Bnvnaipnr

$$$ eir Turo`ksn

Nqulpjngt

$$$ Anksn Tkyjngts

Nqulpjngt Anksn

▽ Bnvnaipnr= rnspigslfan eirjklgtngkgon ig nqulpjngt

▽ Bnvnaipnr snaas ngnrhy ti utlalty

▽ Tkyjngts krn jkgbktiryrnhkrbanss ie prieltkflalty irrnvngun strnkjs

▽ Fuy iut iptlig usukaay nxlsts ktoigoauslig ie anksn



_ujjkry ie Rwi Lgvnstjngt Iptligs

▽ O`ilon ie trkgskotlig bnpngbs ig Lgvnstir“s okpltka, alqulblty, gnnb eir rnturg= ;. R`n ‑ealp‚ keeirbs lgvnstir jirn eanxlflalty

6. Anksnfkoc bins git rnqulrn sufstkgtlka lgltlka okpltka lgeuslig

Anksnfkoc=

• Le t`n nqulpjngt ipnrktns neenotlvnay nkray, ‑ealp‚ ioours nkralnr.

• Le nqulpjngt pnreirjkgon ls akoclgh, ‑ealp‚ ls bnakynb.

‑Ealp‚=

▽ Le t`n nqulpjngt ipnrktns neenotlvnay nkray, jirn rnvngun ls hngnrktnb.

▽ Le lt ugbnr pnreirjs, anss rnvngun jktnrlkalzns.

Nlt`nr wky t`n anksn pkyjngts krn oigstkgt kgb eir k bnelgnb tnrj.



Lgvnrtnb Anksn _truoturn

• Iee-tkcnr rnonlvns t`n ngnrhy erij k

systnj vlk k TTK kgb lg turgs pkyLgvnstir eir t`n ngnrhy pribuonb

• Bnvnaipnr jky ipnrktn t`n systnjig fn`kae ie lgvnstir

• R`n Bnvnaipnr (ks iwgnr) oakljs

tkx bnprnolktlig kgb okg nanot titkcn LRO

• R`n lgvnstir (ks anssnn) oakljs tkxbnbuotlig eir anksn pkyjngts.

• Kt ngb ie anksn tnrj, t`n systnj

kutijktlokaay rnvnrts fkoc tiBnvnaipnr.

• Tris=

▽ Tipuakrlty kgb ugbnrstkgblgh ie anksn struoturns

▽ Bnvnaipnr rntklgs t`n rnslbuka lgtnrnst

▽ Nksy nxlt eir t`n Lgvnstir

▽ Bnvnaipnr jky okpturn sijn upslbn burlgh anksn tnrjugbnr kg I&J Khrnnjngt

▽ Ko`lnvns snpkrktlig ie LRO Hrkgt kgb bnprnolktlig

• Oigs=

▽ Lgvnstir rnoihglzns lgoijn nquka ti >4% ie LRO Hrkgtivnr lgltlka elvn ynkrs ie anksn tnrj

▽ Rkx-nxnjpt ir hivnrgjngt ngtltlns okg“t fn Bnvnaipnr

ir Lgvnstir

▽ Anksn just qukaley eir ornblt pkss-t`riuh` nanotlig

▽ Anksn just qukaley ks k trun anksn eir ^._. enbnrka tkxpurpisns

Oipyrlh`t Vibjkg & Vibjkg, T.O. Kaa Vlh`ts Vnsnrvnb. 65



Lgvnrtnb Anksn _truoturn

Oipyrlh`t Vibjkg & Vibjkg, T.O. Kaa Vlh`ts Vnsnrvnb. 68



R@KGC \I^

Ckt`y Tkrcnr, OTK, J_R

Vibjkg & Vibjkg, TO

? Gnwtig Nxnoutlvn TkrcGnwtig, JK 46256

5;8-<5>-><><

ckt`yDribjkgopk.oij



Gnw Nghakgb _tktns“ Tialolns eir

Koonanrktlgh Vngnwkfans

Hngnrktlig

_tnvng Oakrcn

Ksslstkgt _norntkry

Nxnoutlvn Ieelon ie Ngnrhy kgb

Ngvlrigjngtka Keelkrs

Oijjigwnkat` ie Jkssko`usntts

Ngvlrigjngtka Fuslgnss Oiugola ie Gnw Nghakgb

Ngnrhy Ngvlrigjngt Noigijy



Nxnoutlvn Ieelon ie Ngnrhy kgb Ngvlrigjngtka Keeklrs

_tnvng Oakrcn Ksslstkgt _norntkry eir Ngnrhy

Oijjigwnkat` ie Jkssko`usntts


Lgongt lvns kgb Elgkgolgh ei r

Vngnwkfan Ngnrhy Bnvnaipjngt Fistig, JK

Erlbky, Jky 6?, 64;2

Gnw Ngh akgb Hivnrgi rs

Vnh ligka Ngnrhy

Lg erkstruotu rn Lg l t lkt lvn



Nxnoutlvn Ieelon ie Ngnrhy kgb Ngvlrigjngtka Keeklrs?;

GNX NGHAKGB HIUNVGIV“_

MILGR _RKRNJNGR

• Kaa 5 Gnw Nghakgb Hivnrgirs slhgnb kgb lssunb k milgtstktnjngt lg Bnonjfnr 64;? oijjlttlgh rnhlig ti oiipnrktlig

ig ngnrhy lgerkstruoturn

• @lstirlo lgltlktlvn snncs ti blvnrsley piwnr hngnrktlig, rnbuon

hrnng`iusn hks njlssligs, ng`kgon rnalkflalty, kgb frlgh jirn

keeirbkfan prlons ti t`n rnhlig

• Hivnrgirs blrnotnb t`nlr stkee ti wirc tihnt`nr t`riuh`

GN_OIN kgb wlt` L_I-GN ti bnvnaip k strktnhy t`kt jnnts t`nrnhlig“s oijjig gnnbs




GN HIUNVGIV_ ANRRNV RI L_I-GN

• Gnw Nghakgb Hivnrgirs sufjlttnb anttnr lg

Enfrukry 64;2 vlk GN_OIN t`kt kscs L_I-Gnw

Nghakgb (L_I-GN) ti tkcn lgltlka stnps gnnbnb ti

ljpanjngt rnhligka ngnrhy lgerkstruoturn

lgltlktlvn• Hivnrgirs wkgt=

pripiskas eir sueelolngt trkgsjlsslig ti bnalvnr ;.6HX-

?.5HX ie gnw oankg ngnrhy rnsiurons kgb k eugblgh jno`kglsj ti suppirt lgvnstjngts lg 544

jjoe/bky lg kbbltligka hks plpnalgn bnvnaipjngt

fnyigb t`n kggiugonb KLJ kgb RHT-OR primnots.

?6




Kg khlgh eannt

Lg 64;6, L_I kgkaysls eiugb t`kt kfiut 0,?44 JX ie Gnw Nghakgb“s ila kgb oika okpkolty wiuab fn ivnr 24 ynkrs

iab lg 6464. _lgon t`ng, sijn ie t`nsn iabnr pakgts `kvn karnkby kggiugonb rntlrnjngts.

;,<45

?06

2,422

;,??5

542

4

>44

;,444

;,>44

6,444

6,>44?,444

?,>44

2,444

2,>44

24-2< ynkrs >4->< ynkrs 54+ ynkrs

O k p k o l t y ( J X

)

Ila Oika

VNALKFLALR\

ALK LAL \




‑Kt Vlsc‚ ^glt Vntlrnjngts `kvn Fnhug

Jirn t`kg 2,444 JX ie hngnrktlig kgb bnjkgb rnsiurons pakg ti rntlrn, lgoaublgh kajist 6,844 JX ie oika

kgb ila uglts t`n L_I lbngtlelnb ks ‑kt rlsc‚

• _kanj @krfir _tktlig (82< JX)

• 2 uglts (oika & ila)

• Girwkac @krfir _tktlig (?26 JX)

• ? uglts (ila)

• Frkytig Tilgt _tktlig (;,>?> JX)

• 2 uglts (oika & ila)

• Unrjigt \kgcnn _tktlig (542 JX)

• ; uglt (guoankr)

Ritka JX Vntlrlgh lg Gnw Nghakgb*

Oiggnotlout >60 JX

Jklgn ;>< JX

Jkssko`usntts 6,506 JX

Gnw @kjps`lrn >5 JX

V`ibn Lsakgb 52 JX

Unrjigt 555 JX

Ritka 2,;>> JX

Jkmir Vntlrnjngt Vnqunsts=

*Jnhkwktts fksnb ig rnanvkgt Eirwkrb Okpkolty Kuotlig(EOK) sujjnr qukalelnb okpkolty (GIRN= titka lgoaubns euaakgb pkrtlka hngnrktir kgb bnjkgb rnspigsn Gig-TrlonVntlrnjngt (GTV) rnqunsts eir Okpkolty Oijjltjngt Tnrlib(OOT) 64;?-64;2 t`riuh` OOT 64;8-64;0)

_iuron= _tktus ie Gig-Trlon Vntlrnjngt Vnqunsts3 Bnonjfnr64, 64;?

VNALKFLALR\

E^NA BLUNV_LR\




E^NA BLUNV_LR\

_iuron= L_I-GN

E^NA JK__KO@^_NRR_

*

GNX NGHAKGB *

Gkturka Hks** 2<% 2?%

Ila ;<% 66%

Guoankr >% ;>%Oika ;4% 8%

Tujpnb _tirkhn ;?% >%

@ybri ;% 2%

It`nr 6% 2%

* Tnrongt ie titka okpkolty

** Gkturka hks ls t`n prljkry euna eir jirn t`kg 24% ie t`nnxlstlgh hngnrktlgh okpkolty lg t`n stktn kgb rnhlig.

64;?-64;2 JK & Gnw Nghakgb Euna Jlx

KEEIVBKFAN TIXNV




Mkg-Enf 64;2 gnkray >4% ie 64;? oists

?5

KEEIVBKFAN TIXNV

$ 0 4

$ 5

2

$ 8 >

$ < ;

$ > ;

$ > < $ >

2 $ 2 ?

$ 5

2

$ ; 8 5 $2,<<<

$?,<2>

$2,825

$>,5>8

$?,45;

$?,>82

$?,62>

$6,>8?

$?,026

$;,0;0

4

;,444

6,444

?,444

2,444

>,444

5,444

$4

$64

$24

$54

$04

$;44

$;64

$;24

$;54

$;04

$644

644> 6445 6448 6440 644< 64;4 64;; 64;6 64;? Mkg-Enf ;2

R i t k a X ` i a n s k a nN a n o t r l o l

t y O i s t $ J

$ / J X `

Jkssko`usntts X`ianskan Nanotrlolty Oist

KEEIVBKFAN TIXNV




Kooirblgh ti L_I Gnw Nghakgb 64;; noigijlo stuby upbktns t`ls ynkr, lgornkslgh wlgb erijourrngt 0<6 JX ti ?<65 JX ie wlgb lg t`n bnvnaipjngt qunun (oaisn ti t`n oiaanotlvn 646; Gnw

Nghakgb VT_ tkrhnts), A_N Ngnrhy Nxpngsn, riuh`ay w`kt aikb pkys lg t`n ngnrhy jkrcnt, wiuabbnornksn fy $; flaalig pnr ynkr.

Xlgb Ngnrhy Aiwnrs X`ianskan Ngnrhy Trlons

?8

KEEIVBKFAN TIXNV

KEEIVBKFAN TIXNV




KEEIVBKFAN TIXNV

?0

@ybri _iautlig Kgkaysls lg t`n Hks-Nanotrlo _tuby

Noigijlo Fksnb Ljpirts

Kssujns ljpirt anvnas bntnrjlgnb fy

ngnrhy gnnbs & prlon bleenrngtlkas lg

Gnw Nghakgb & it`nr jkrcnts

Elrj Ljpirts

Kssujns elrj ljpirt anvnas fy oigtrkot(62/8/?5>)

Kssujns kbbltligka oist ie gnw bkj kt

oist ie snrvlon Ngkfans ljpirts nvng burlgh Okgkblkg

wlgtnr pnkc

Fit` kssujn oist ie k gnw ;644 JX Rrkgsjlsslig algn

Fit` rnbuon rnhligka gkturka hks bnjkgb

Fit` aiwnr rnhligka nanotrlo prlons

Elrj piwnr : hrnktnr rnbuotlig lg

• hks bnjkgb burlgh wlgtnr pnkcs

• nanotrlo prlons




HAIFKA XKVJLGH _IA^RLIG_ KOR (HX_K)

• Hivnrgir Tktrloc slhgnb J.H.A. O`. 6;G lgti akw lg 6440• Trljkry stktutiry rnqulrnjngts

• Jkgbktiry Vnpirtlgh ie H@H Njlssligs

• Rrkoc _tktnwlbn H@H Njlssligs• Bnvnaip H@H Aljlts kgb Takgs ti Ko`lnvn _tktnwlbn Vnbuotligs

6464= 6>% fnaiw ;<<4 anvnas

64>4= kt ankst 04% fnaiw ;<<4 anvnas

Oankg Ngnrhy kgb Oaljktn Takg (ONOT) eir 6464 Oaljktn O`kghn Kbkptktlig Vnpirt

• Oigvngn Kbvlsiry Oijjlttnns

_iuron= NNK

6464 ONOT




Ivnr 0>% ie Jkssko`usntts rnbuotlig hikas krn oigongtrktnb lg t`n tng akrhnst lgltlktlvns.

Fulablghs, Ngnrhy Neelolngoy,kgb Bnjkgb _lbn Jkgkhnjngt

Ngnrhy Hngnrktligkgb Blstrlfutlig

Rrkgspirtktlig, _jkrtHriwt`, kgb Akgb ^sn

Gig-NgnrhyNjlssligs

Kaa Oist Neenotlvn Ngnrhy Neelolngoy(lgoaubns= Bnnp ngnrhy neelolngoy

ljprivnjngts eir fulablghs)

Kbvkgonb Fulablgh Ngnrhy Oibns

Enbnrka Kppalkgon _tkgbkrbs

Oankg Ngnrhy Ljpirts

Nxpkgbnb Vngnwkfan kgb Katnrgktlvn Tirteiali _tkgbkrb

Jirn _trlghngtTiwnr Takgt Vuans

Enbnrka kgb Okaleirglk Un`loanNeelolngoy kgb H@H _tkgbkrbs

(lgoaubns= Vnbuolgh H@H njlssligs

erij jitir vn`loan klr oigbltliglgh)

Enbnrka Vngnwkfan Euna _tkgbkrbkgb Vnhligka Aiw Okrfig Euna

_tkgbkrb

HrnngBIR

Oankg Okr Lgongtlvns

_jkrt Hriwt` Tialoy Tch(lgoaubns= _ustklgkfan Bnvnaipjngt Trlgolpans)

TK\B Lgsurkgon

Enbnrka Jnb. & @nkvy Un`loan _tkgbkrbs

Vnerlh-nrkgtJhjt

Taks-tlos

_E5rnbuo-

tlig

<.0% 8.8%8.<% ;.8%

ONOT 6464 eirnokst (jlbban nstljktns)= 68.;%HX_K 6464 Njlsslig Aljlt= 6>%

• Ila Neelolngoy lg O&L

• _iakr R`nrjka

• Rrnn Takgtlgh

6464 ONOT

Oriss-outtlgh lgltlktlvns= • Ankblgh Fy Nxkjpan• Hrnng Oijjugltlns

• JNTK H@H Tialoy kgb Tritioia• Oigslbnrktlig ie H@H Njlssligs lg _tktn Tnrjlt, Alongslgh, kgb

Kbjlglstrktlvn KpprivkasHrkp` bnvnaipnb wlt` Gnxt _tnp Alvlgh




54.4

5>.4

84.4

8>.4

04.4

0>.4

<4.4

<>.4

;44.4

H @ H n j l s s l i g s ( j l a a l i g j n t r l o t i g i e O I 6 n )

Hrnngìusn Hks (H@H) Njlssligs Vnbuotlig ti 6464

Trimnotnb njlssligs erij Fuslgnss-ks-

^suka songkrli

Kotuka hriss njlssligs erij JK H@H

njlssligs lgvngtiry

Trimnotnb njlssligs le kaa ONOT strktnhlns

krn ljpanjngtnb, nxonpt Gnw Oankg

Ngnrhy VnsiuronsTrimnotnb njlssligs le kaa ONOT strktnhlns

krn ljpanjngtnb

6464 njlsslig aljlt (6>% rnbuotlig erij

;<<4 fksnalgn)

Jksskoùsntts wlaa fn sìrt

2.<5 JJROI6n ie t`n 6464

njlsslig aljlt le Gnw Oankg

Ngnrhy Vnsiurons krn git euaay

ljpanjngtnb.

Gnw Oankg Ngnrhy Vnsiurons

nquktn ti 6;% ie t`n ivnrkaa

6464 rnbuotlig pakg.

(wlt` kgb wltìut Gnw Oankg Ngnrhy Vnsiurons)

_iuron= NNK

<2.2

<8.4

<2.6

8<.0

84.0




• Jkssko`usntts 64;? Oankg Ngnrhy Ongtnr Lgbustry Vnpirt• _notir hrnw ;;.0% erij 64;6 ti 64;?

• _notir njpaiys 8<,<<2 pnipan

• >,>>8 oijpkglns

• _iakr• Hivnrgir snt k 6>4 JX hika eir 64;8

• Ourrngtay 28> JX lgstkaanb• Igay ?JX lgstkaanb w`ng Hivnrgir tiic ieelon

• Xlgb• Hivnrgir snt k 6,444 JX hika eir 6464

• Ourrngtay ;4? JX lgstkaanb

• Igay ?JX lgstkaanb w`ng Hivnrgir tiic ieelon

• Ign ie ekstnst hriwt̀ rktns lg gktlig

JK__KO@^_NRR_ OANKG NGNVH\ VNUIA^RLIG

@ ?<50= KG KOR VNAKRLUN RI OANKG




@. ?<50= KG KOR VNAKRLUN RI OANKG

NGNVH\ VN_I^VON_• Nstkfals`ns k gnw rnqulrnjngt eir blstrlfutlig oijpkglns ti milgtay sialolt

pripiskas eir t`n bnalvnry ie ;0,<44,444 JX` ig kg kgguka fksls vlk nlt`nraigh tnrj oigtrkots ks bnelgnb lg _notlig 6 ir bnalvnry oijjltjngt khrnnjngtsks bnelgnb lg _notlig ?.

• R`n blstrlfutlig oijpkglns just lssun t`n sialoltktlig fneirn Iotifnr ;, 64;2,okg oigbuot t`n sialoltktlig lg oiirblgktlig wlt` it`nr Gnw Nghakgb stktns kgbokg oigbuot euturn sialoltktligs ugtla t`ny jnnt t`n tkrhnt.

• Bnelgltlig ie oankg ngnrhy hngnrktlig= Oakss L VT_ nalhlfan rngnwkfan ngnrhyhngnrktlig kgb/ir ̀ ybrinanotrlo hngnrktlig, kgb just fn lgornjngtkahngnrktlig bnalvnrnb lgti L_I-GN ketnr Mugn ;, 64;2.

• Lgornjngtka hngnrktlig s`kaa oijn erij siurons fulat ketnr 644?, uganss usnbspnolelokaay ti elrj bnalvnry ie Oakss L rnsiurons, lg w`lo` oksn prn 644?hngnrktlig kasi nalhlfan.

• Kaa oankg ngnrhy hngnrktlig just usn uglt spnolelo trkoclgh kgb vnrleloktlig

2?




VN_I^VON_= XLGB NGNVH\

• L_I Gnw Nghakgb oijpantnb t`nlr ‐Gnw Nghakgb Xlgb

Lgtnhrktlig _tuby“ (GNXL_) lg 64;4

• Trljkry oigoausligs=

GN oiuab jnnt up ti 62% ie ngnrhy gnnbs erij wlgb fy 6464 (;4-;6 HX)

‟ kpprix. 850JX ie wlgb ourrngtay lgstkaanb lg GN Lgornkslgh kjiugts ie wlgb ngnrhy wlaa rnqulrn lgvnstjngts lg

ipnrktligka okpkolty (n.h. wlgb eirnokstlgh) kgb trkgsjlsslig erij `lh`

wlgb krnks ti krnks ie `lh` aikb

Xlgb oiuab rnbuon eissla eunanb hngnrktlig lg GN

Xlgb lg GN `ks vnry `nkat`y okpkolty ekotirs & vkauns

644 HX ie wlgb ngnrhy pitngtlka lg GN

22




VN_I^VON_= AKVHN @\BVI

• Gnw `ybrinanotrlo ljpirts krn k pitngtlka siuron

ie slhglelokgt oankg ngnrhy ti Gnw Nghakgb

• Kbblgh slhglelokgt qukgtltlns ie `ybri (;,644 JX

+) privlbns slhglelokgt suppay blvnrslty kgb

rnhligka H@H rnbuotlig, jlgljka ljpkots ig flaas

• ?544 JX ie `ybri `ks t`n hrnktnst rnbuotlig lg

rnhlig“s rnalkgon ig hks kgb rnbuotlig lg

hrnng`iusn hks njlssligs

2>




GN_OIN & KGKA\_L_

25

• 644< Gnw Nghakgb Hivnrgirs“ Vngnwkfan Ngnrhy Faunprlgt

lbngtlelnb t`n oigonpt ie oiirblgktlgh priournjngt.L_I-GN prnpkrnb kssiolktnb tno`gloka kgkaysls kt t`n rnqunst iet`n Hivnrgirs.

• 64;4 Vnpirt ti t`n Gnw Nghakgb Hivnrgirs ig OiirblgktnbTriournjngt privlbnb k jirn bntklanb aiic kt t`n oigonpt

• 64;; Vnqunst eir Lgeirjktlig erij rngnwkfan bnvnaipnrs & it`nrs,lgoaublgh trkgsjlsslig iwgnrs kfiut rnsiurons t`kt oiuab fnbnvnaipnb fy 64;5

• 64;6 Vngnwkfan _uppay Ourvn Kgkaysls privlbnb blrnotligkaaylgbloktlvn, rnaktlvn oist lgeirjktlig ie ig & iee-s`irn wlgb

rnsiurons lg 64;5, 6464

• 64;? Fakoc & Unkto` Hks Nanotrlo _tuby & GN_OIN Akrhn @ybriw`ltn pkpnr




TVITI_NB TVIMNOR_

• _nvnrka primnots lg vkrlius stkhns ie bnvnaipjngt

oiuab slhglelokgtay nxpkgb rnhlig“s koonss ti gnw

oankg ngnrhy kgb hks rnsiurons

• Oankg Ngnrhy Rrkgsjlsslig

Girt`nkst Ngnrhy Algc, ;.;HX

Bnnpwktnr Xlgb Iees`irn Xlgb Ongtnr, ;.>HX

Hrnng Algn, ;.4-;.6HX

Gnw Nghakgb Oankg Tiwnr Algc, ;.4HX

Girt`nrg Tkss , ;.6HX

Hrkgb Lsan Lgtnrtln, 244 JX

28




GNPR _RNT_

• _ialolt stkcn`iabnr ennbfkoc t`ru pufalo,

trkgspkrngt prionss

• Lssun VETs eir oankg ngnrhy trkgsjlsslig kgb gnw

hks okpkolty

• Bnvnaip tkrlees eir oankg ngnrhy trkgsjlsslig &

hks okpkolty

20




OIGOA^_LIG= K XLG-XLG TAKG EIV 6464



_iakr Tiwnr Elgkgolgh=_VNOs lg Jkssko`usntts, Fut

X`kt Kfiut It`nr _tktns9

Jktt _`irtsannvn

Blrnotir

VH_ Ngnrhy





_IAKV ELGKGOLGH LGONGRLUN_LG R@N GIVR@NK_R ^._.

NFO Vngnwkfan Ngnrhy Trihrkj, >/6?/64;2

Jktt _`irtsannvn, Vnhligka Blrnotir

Jktt._`irtsannvnDVH_Ngnrhy.oij



Jkssko`usntts

_VNO ;

• Euaay sufsorlfnb

• Xlabay suoonsseua

• Jkgy akrhnrprimnots/Vnjitn GntJntnrlgh ekrjs

• Oigoaublgh Mugn ?4, 64;2

_VNO 6

• Gnxt ltnrktlig, vnry sljlakroigstruot

• + ;644JX, oaisnr ti 844JX

• Ekvirs oijjnrolka riietips,fn`lgb t`n jntnrkppaloktligs kgb rnbuonsvkaun eir rnjitn jntnrlghprimnots

• Jkgkhnb Hriwt` _notir ‟ kpt gkjn eir >44cw+,rnjitn jntnr primnots

• Oigtlguns ti fn k gktligkaankbnr ie jkrcnt fksnb VT_lgongtlvn

>6



Oiggnotlout>?

Gnt Jntnrlgh ‟ lgoaublgh rnjitn koonss eir juglolpkaltlns

]VNO (]nri Njlsslig Vngnwkfan Ngnrhy Onrtleloktn)

Oijpntltlvn flb kppaloktlig prionss, eir ;> ynkr pkyiutkhrnnjngt wlt` ABO Girt`nkst ^tlaltlns (OA&T kgb ^L)

6 hriups= _jkaa kgb Jnbluj (up ti 6>4cX99)3 kgguka kppaloktligMugn, kwkrbs nstljktnb eir Iotifnr

Akrhn (6>;cX-;JX)3 kgguka kppaloktlig Mugn, kwkrbsnstljktnb eir Iotifnr

^pig kwkrb, pkrty `ks P bkys ti ngtnr flgblgh khrnnjngt

64;2 vkaun eir kaa ]VNO_ ls PP JX, ir $PPJJ



V`ibn Lsakgb>2

Rwi lgongtlvn prihrkjs=

;. BH ELR w/Gktligka Hrlb

Flb prionss wlt` hulbkgon erij VL BINV

;> ynkr elxnb prlon khrnnjngt

Lg erigt ie t`n oustijnr jntnr

6. Gnt Jntnrlgh

6k= ‑VL Oijjnron _iakr Vnfktn‚, $;6.>JJ eugblgh

Nalhlfan eir fuslgnssns ig systnjs up ti ?>4cXbo

;-tljn up erigt rnfktn pkykfan wlt`lg P bkys ie vnrleloktlig fy VLOijjnron

Kppaloktlig wlt` suppirtlgh bioujngtktlig

Eugbnb ugtla…9



Girt`nrg Gnw Nghakgb>>

Gnw @kjps`lrn

Vnfktn lgongtlvns up ti ;44cX + Oakss ; VNOsw/T_G@

Unrjigt

_TNNB Trihrkj

^tlalty Triournjngts ‟ Hrnng Jiugtklg Tiwnr

JklgnOigslbnr primnots ig oksn fy oksn

Le snrvns k pufalo gnnb, oiuab fn nalhlfan eir hrkgts



_VNO vnrsus ^tlalty Trihrkjs>5

_VNO prihrkjs krn eaulb, jkrcnt brlvng, `kvn upslbn

kgb biwgslbn rlsc. JK aljlts rlsc wlt` BINV

kuotlig

Ukrlnty ie jnt`ibs ti jigntlzn VNOs

_pit Jkrcnt

Eirwkrb _trlps

Jkrcnt kuotligs (JK lggivktlig)



^tlalty Ennb-Lg-Rkrlee prihrkjs>8

Elxnb, cgiwg ‟ bn-rlsc bnolsligs eir okutlius

lgvnstirs kgb jklgstrnkj angbnrs

Aiwnr rnturgs eir fuslgnssns kgb lgvnstirs O`ippy bnka eaiw

Anss kttrkotlvn eir lgbustry prkotlolignrs



R`n euturn!>0

Nxpnot jkmir o`kghns lg t`n nanotrlolty fuslgnss

Hngnrktlig, Blstrlfutlig, Oijpngsktlig

Gnt Jntnrlgh wlaa rnjklg ongtrka ti suppirttno`giaihloka kbvkgonjngts, kgb oustijnr o`ilon

Ourrngt _VNO jkrcnts wlaa nxpnrlngon o`kghns lg t`ls

pkrtlouakr lgongtlvn, eir sljpalolty, fubhntlgh, kgb

rktnpkynr nqulty.



R`kgc yiu><

Jktt._ìrtsannvnDVH_Ngnrhy.oij

Algcnblg.oij/jkttsìrtsannvn

Rwlttnr= Djkttsìrtsannvn



Xlgb Tiwnr Elgkgolgh=

_jkaa Trimnots lg Gnw Nghakgb

Bnggls Airlk

_nglir Ulon Trnslbngt ie Trimnot

Bnvnaipjngt

Hrnngwiib Ngnrhy



Tkgna Blsousslig



Jibnrktir= _tnvn Fkrrntt, @JJ@

Tkgna Jnjfnrs=

• Ckt`y Tkrcnr, Vibjkg kgb Vibjkg OTK

• Bnggls Airlk, Hrnngwiib Ngnrhy• Jktt _`irtsannvn, VH_ Ngnrhy

• _tnvng Oakrc, JK NINNK



Tkgna Blsousslig





Lgongtlvns kgb Elgkgolgh eirVngnwkfan Ngnrhy Bnvnaipjngt

R`kgc yiu eir kttngblgh.

5-23-14 MASTER Renewable Energy Financing

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Transcript of 5-23-14 MASTER Renewable Energy Financing