SlideShare uma empresa Scribd logo
1 de 20
Financing large scale integrated CCS
projects
Webinar – 23 June 2013, 1800 AEST
Allan Baker
Allan Baker Managing Director, Global Head of Power Advisory
and Project Finance has worked at Société Générale for six years
and has been involved in the power sector for more than 25 years,
initially as an engineer and then in finance. During his career he has
advised on and financed projects in Europe, MENA, the US and
Asia, and in sectors ranging from green-field renewable energy to
the acquisition of large thermal power portfolios. This experience
has also encompassed regulated, partially deregulated and
merchant power markets. In recent years he has become a leading
figure in the CCS area, having been instrumental in bringing the
financing perspective to the policy debate based on his experience
of advising on to two of the world’s largest carbon capture and
storage (CCS) projects. Allan was also a member of the UK
Government’s CCS Development Forum and led the commercial
section of the UK CCS Cost Reduction Task Force, whose results
were published in a report in 2013. Allan is currently advising the
Managing Director, Global Head of Power Advisory and Project Finance
White Rose CCS project in the UK, which has recently been shortlisted for the FEED stage of the
UK CCS Commercialisation scheme.
Allan has a BSc (Hons) in Mechanical Engineering, an MBA, is a Fellow of the Institution of
Mechanical Engineers and a Chartered Engineer.
QUESTIONS
 We will collect questions during
the presentation.
 Your MC will pose these
question to the presenter after
the presentation.
 Please submit your questions
directly into the GoToWebinar
control panel.
The webinar will start shortly.
GLOBAL CCS INSTITUTE WEBINAR
Financing Large Scale Integrated CCS Demonstration Projects
Allan Baker
Managing Director Global Head of Power
25 June 2014
5
18/03/2022
This presentation has been prepared by Société Générale Corporate & Investment Banking ("SG CIB"), a division of Société Générale.
In preparing this presentation, SG CIB has used information available from public sources. No express or implied representation or warranty
as to the accuracy or completeness of such information is made by SG CIB, nor any other party.
The contents of this presentation are subject to amendment or change at any time and SG CIB will not notify the recipients of any such
amendment or change. No responsibility or liability (express or implied) is accepted for any errors, omissions or misstatements by SG CIB
except in the case of fraud or any other liability which cannot lawfully be excluded.
Any views, opinions or conclusions contained in this presentation are indicative only, are not based on independent research and do not
represent any commitment from SG CIB. This presentation and any expressed interest of SG CIB in arranging or of Société Générale in
providing finance or entering into any other transactions do not constitute any offer of finance or any commitment from Société Générale to
enter into any other transactions, such an offer being subject to contract, the completion of satisfactory due diligence and all necessary credit,
management and other approvals being obtained.
SG CIB conducts its business in the UK through Société Générale London Branch (“SGLB”). Société Générale is a French credit institution
(bank) authorised and supervised by the Autorité de Contrôle Prudentiel (the French Prudential Control Authority). SGLB is subject to limited
regulation in the UK by the Financial Services Authority.
6
18/03/2022
AGENDA
1. BACKGROUND
2. THE FINANCING CHALLENGE
3. WHAT MAKES A PROJECT FINANCEABLE?
4. HOW DOES CCS MEASURE UP?
5. CAN CCS BENEFIT FROM LESSONS LEARNED IN OTHER SECTORS
6. WILL FINANCIAL INSTITUTIONS SUPPORT CCS?
7. FINANCING APPROACH
8. CONCLUSION
7
18/03/2022
BACKGROUND
 Financial will be essential to the development of CCS:
● Large scale demonstration projects to date have been financed by the public sector/government
● Commercial terms and risk allocation probably do not align with requirements of the finance sector
● Financial sector have not engaged with CCS to date – see it as experimental, expensive, long term, not interesting
 Methodology for this engagement exercise:
● Comprehensive review of published material and experience
● Extensive engagement with commercial banks, ECAs, multi-laterals and other potential financing sources
● Evaluation of their understanding and perception of CCS
● Perceived and real financing related issues
 Objectives:
● Understand where the finance community stand on CCS now
● Understand the challenges facing demonstration projects wishing to access external financing
● Understand what will be required to close a financing for a large scale demonstration project
Commercial challenges could be more significant than technical challenges
8
18/03/2022
THE CCS FINANCING CHALLENGE - PERCEPTION
Lack of an industry – lack of precedent – lack of interest
 Familiarity:
● Perception is that there are no CCS projects in operation
● Coverage of CCS in industry press is sketchy
● Cancelled flag-ship projects imply that industry is speculative
 Precedent:
● Technology: CCS technology perceived as “new”
● Integration: complex inter-dependent chain
● Storage: outside comfort zone and unaware of existing sites
● Risk: no precedent risk allocation
Demonstration projects are
predominantly in power –
operating projects are not and
have not been externally
financed
9
18/03/2022
the CCS Financing challenge – clarity & structure
Regional differences in policy and approach impact on financing
 US is Carbon Capture, Use & storage:
● Established infrastructure for CO2 collection and transportation
● Established market for CO2 for EOR and even a projected shortage of supply
● Contractual precedent and risk allocation to underpin the industry
 Europe is Carbon Capture, use & Storage:
● No pre-existing infrastructure – has to be established which has cost implications
● No pre-existing EOR industry as anchor buyer for CO2
● Vast offshore storage potential but resistance to onshore storage
Policy Implications:
 CO2 is a valuable commodity in the US and a liability in Europe – impacts on regulatory environment
 EOR is established in the US and a revenue source to off-set the cost of CCS
 Poly-gen projects offer potentially more revenue streams
= Significant difference in policy approach
Financing Implications:
 Structure of the US industry looks more like a commercial financing opportunity, albeit with some DOE support
 Europe has a very different risk profile and cost base so more dependent on capital and operating subsidy
= Confusion on the financing opportunity and approach
10
18/03/2022
WHAT MAKES A PROJECT FINANCEABLE...?
Some fundamentals apply to finance what ever the sector
 Policy and Regulatory Support:
● Clarity and consistency are key for confidence in the finance community
● Even more so when an industry requires heavy subsidy for early deployment of long life capital intensive assets
 Technology:
● The finance community is not good at “first-of-a-kind” projects
● Availability of finance is usually inversely proportional to new technology
 Risk Allocation:
● Project finance is all about identifying and pricing risk
● Some risks cannot be taken at any price !!
 Opportunity:
● Different institutions have different drivers but “one-off” projects are usually not good targets
● Opportunity could be in terms of multiple follow-on projects and client relationships (commercial banks), support for
manufacturing/exports (ECAs), development of a sector/technology/policy (multi-laterals & policy banks)
Developing a new sector is an investment for financial institutions
11
18/03/2022
HOW DOES CCS MEASURE UP ...?
≈ Policy and Regulatory Support:
● Policy and regulatory support varies significantly region by region and even country by country
● In many cases policy, and particularly regulation, are evolving
● Emergence of very supportive regulatory templates – still need to be proven
≈ Technology:
● It is evident that much of the technology for CCS exists but in some cases at a different scale in a different context
● EOR, and to a certain extent storage, have been proven context is important
● Integration remains a concern – many financial institutions do not have integrated teams to look at CCS
Risk Allocation:
● Risk allocation on operating projects and large scale plants in development may not be adequate for finance
● CCS specific risks, and ultimately stranded asset risk remain a material concern for the finance community
● Early commercially financed projects will require conservative “bespoke” risk allocation or extensive support
Opportunity:
● CCS increasingly being seen as a key component of decarbonisation
● Increasing awareness of the opportunity “recognisable” projects heading for commissioning – Kemper, Boundary Dam
Three years ago all four would have been a thumbs down – so progress !
12
18/03/2022
CAN CCS BENEFIT FROM LESSONS LEARNED IN OTHER SECTORS ...?
Offshore wind seems most relevant
 Key drivers for take off:
● Strong policy support in Europe
● Specific subsidy regime to compensate for cost
● Specific targets for deployment in some areas
● Strong support from large OEMs and
developers
● Favourable risk allocation
 Finance successfully mobilised:
● Started small but now $1bn deals done
● Financial institutions taking more risk
● Wide variety of institutions involved
But.....
● It took 5 years from the real start of offshore wind
to the first financed project
● Debt finance growth has lagged capacity installed
● Early mover finance ahead of significant capacity
● Finance increased significantly with improved
incentives
● Early projects have very conservative risk
allocation
13
18/03/2022
WILL FINANCIAL INSTITUTIONS SUPPORT CCS ...?
 There is clear interest in CCS developing in the finance community
 Interest does not equate to understanding
 Mobilising finance will require stakeholder cooperation, education and careful structuring
 The finance community currently see risk in CCS but have not fully evaluated this risk
CCS has an open door – success breeds success
14
18/03/2022
WILL FINANCIAL INSTITUTIONS SUPPORT CCS ...?
Financing is likely to come from various different sources.....
 Commercial (Project Finance) Banks:
● Experienced in risk analysis, financing complex projects and active in sectors where CCS is applicable
● Huge global liquidity – Over US$400bn of funding to more than 1,000 transactions globally in 2013
● Will focus heavily on issues previously discussed
 Export Credit Agencies (ECAs):
● Significant role in risk enhancement to increase liquidity
● Involvement will be based on national interest
● Already showing significant interest
 PFIs and Multilaterals:
● Strategic role in development of clean energy
● Significant interest in CCS
● Provided substantial support to offshore wind for example
 Other sources:
● Capital markets – usually reluctant to take new technology risk
● Scope for credit enhancement structures – Infrastructure UK, EU 2020 etc
ECAs & Multi-laterals play a significant role in offshore wind
15
18/03/2022
financing approach – the financial institution process
Financial institutions will go through defined steps to a greater of lesser extent.....
 Identification:
● Institutions have to identify CCS as an opportunity
● Undertake high level research & due diligence on the sector
 Education:
● Undertake more extensive due diligence on market and opportunity
● Prepare a business case for inclusion in strategy
● Internal education process
 Buy-in:
● Internal management support for dedicating resource to the sector
● In principle support to lend to the sector
 Execution:
● Detailed assessment and structuring of an actual transaction
● Full management and credit approval
Understanding and fully supporting this process is essential
16
18/03/2022
financing approach – how it could work in practice
In reality........
 The process is likely to be more iterative, with feed back into structuring
 Close cooperation with potential lenders is essential to inform commercial/risk negotiations
 This is an untested process for CCS so a pragmatic approach will be required
Simplistically, a CCS financing process may incorporate the following
17
18/03/2022
REAL PROJECTS NOW LOOKING FOR COMMERCIAL FINANCE
Texas Clean Energy, USA
Polygen project targeting potential Chinese
bank and ECA financing with some backing
from DOE. Multiple revenue streams to
underpin the financing needed to complete
the project.
White Rose, UK
Oxy-combustion project currently at FEED study
stage (partly UK government funded). No EOR
angle but expected to benefit from UK
Government grant funding and ongoing operating
revenue support through a CFD mechanism.
Currently engaged with a number of financial
institutions and multilaterals on potential financing.
18
18/03/2022
CONCLUSION
 The work undertaken for this report highlights a significant change in the perception in the minds of the finance
community who are now interested in the potential of CCS
 At the same time we are seeing the completion of large-scale CCS projects which, whilst not commercially financed, are
none the less providing precedent for technology, costing and commercial structures
 The current divergence of project technology, business model and policy/regulatory landscape is still a cause for
confusion for the finance community but some core clients are now leading projects
 There is in our view sufficient capacity to allow for commercial finance of large-scale demonstration projects but risk
allocation and commercial structure will be key to mobilising this funding – inevitably this will translate into conservative
structures for early project which in turn equates to additional costs (contingencies, financial support etc) for
implementing early projects
 Costs should fall as follow on projects are executed but the pace of cost reduction depends to a certain extent on
replication of technology, the number of projects executed and timeframe. In the same way financing should become
more available and more competitive as precedent develops as we have seen in other industries
 The positive message from this report is that the finance community is now turning its focus to CCS based on:
o The emergence of tangible projects on which to start commercial debt structuring
o The availability of firm revenue streams whether commercial (EOR) or policy driven (incentive tariff mechanisms)
o Policy development – particularly evident in the UK with substantial political and financial support
For the finance community CCS has moved from ‘too difficult’ to ‘potentially interesting’
The key is to maintain the building momentum to turn demonstration into an industry
QUESTIONS / DISCUSSION
Please submit your questions in
English directly into the
GoToWebinar control panel.
The webinar will start shortly.
Please submit any feedback to: webinar@globalccsinstitute.com
View the report: www.globalccsinstitute.com/publications/targeted-
report-financing-large-scale-integrated-ccs-demonstration-projects

Mais conteúdo relacionado

Mais procurados

Project Financing Introduction
Project Financing IntroductionProject Financing Introduction
Project Financing Introductionaburakan69
 
Bpifrance's Plan Climat
Bpifrance's Plan Climat Bpifrance's Plan Climat
Bpifrance's Plan Climat Bpifrance
 
Jean-David Malo DG Research Innovation
Jean-David Malo DG Research InnovationJean-David Malo DG Research Innovation
Jean-David Malo DG Research InnovationNordic Innovation
 
Saudi mega transport and infrastructure projects
Saudi mega transport and infrastructure projectsSaudi mega transport and infrastructure projects
Saudi mega transport and infrastructure projectsIbrahim Al-Hudhaif
 
Project finance presentation ppp conference- south africa 2015
Project finance presentation  ppp conference- south africa 2015Project finance presentation  ppp conference- south africa 2015
Project finance presentation ppp conference- south africa 2015Audrey Mwala
 
Project Financing in Public Projects
Project Financing in Public ProjectsProject Financing in Public Projects
Project Financing in Public ProjectsXinyi (Sophia) Xue
 
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
 
Project Finance - Session 05
Project Finance - Session 05Project Finance - Session 05
Project Finance - Session 05Bodenbr
 
Project financing methods
Project financing methodsProject financing methods
Project financing methodsDaniel Oskooei
 
Financing Project Through Structured Finance
Financing Project Through Structured FinanceFinancing Project Through Structured Finance
Financing Project Through Structured FinanceSummaiya Gauhar
 
Venture capital 1
Venture capital 1Venture capital 1
Venture capital 1Dharmik
 
An introduction to project finance
An introduction to project financeAn introduction to project finance
An introduction to project financeAnurag Jaiswal
 
Renewable Energy Project Financing
Renewable Energy Project Financing Renewable Energy Project Financing
Renewable Energy Project Financing ACX
 
Solar Project Finance: Turning Sunlight Into Green
Solar Project Finance: Turning Sunlight Into Green Solar Project Finance: Turning Sunlight Into Green
Solar Project Finance: Turning Sunlight Into Green Rick Borry
 
Project financing and public private partnership (ppp)
Project financing and public private partnership (ppp)Project financing and public private partnership (ppp)
Project financing and public private partnership (ppp)M. Asim U Khan
 
19. financing infrastrucutre projects
19. financing infrastrucutre projects19. financing infrastrucutre projects
19. financing infrastrucutre projectsIshita Shah
 
Project Financing
Project FinancingProject Financing
Project Financingkcbradley
 
Project finance emu
Project finance emuProject finance emu
Project finance emubejoylinp
 
Project Finance Session 01
Project Finance Session 01Project Finance Session 01
Project Finance Session 01Bodenbr
 

Mais procurados (20)

Project Financing Introduction
Project Financing IntroductionProject Financing Introduction
Project Financing Introduction
 
Project Financing and Investment Planning - BORAQS Kenya
Project Financing and Investment Planning - BORAQS KenyaProject Financing and Investment Planning - BORAQS Kenya
Project Financing and Investment Planning - BORAQS Kenya
 
Bpifrance's Plan Climat
Bpifrance's Plan Climat Bpifrance's Plan Climat
Bpifrance's Plan Climat
 
Jean-David Malo DG Research Innovation
Jean-David Malo DG Research InnovationJean-David Malo DG Research Innovation
Jean-David Malo DG Research Innovation
 
Saudi mega transport and infrastructure projects
Saudi mega transport and infrastructure projectsSaudi mega transport and infrastructure projects
Saudi mega transport and infrastructure projects
 
Project finance presentation ppp conference- south africa 2015
Project finance presentation  ppp conference- south africa 2015Project finance presentation  ppp conference- south africa 2015
Project finance presentation ppp conference- south africa 2015
 
Project Financing in Public Projects
Project Financing in Public ProjectsProject Financing in Public Projects
Project Financing in Public Projects
 
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
 
Project Finance - Session 05
Project Finance - Session 05Project Finance - Session 05
Project Finance - Session 05
 
Project financing methods
Project financing methodsProject financing methods
Project financing methods
 
Financing Project Through Structured Finance
Financing Project Through Structured FinanceFinancing Project Through Structured Finance
Financing Project Through Structured Finance
 
Venture capital 1
Venture capital 1Venture capital 1
Venture capital 1
 
An introduction to project finance
An introduction to project financeAn introduction to project finance
An introduction to project finance
 
Renewable Energy Project Financing
Renewable Energy Project Financing Renewable Energy Project Financing
Renewable Energy Project Financing
 
Solar Project Finance: Turning Sunlight Into Green
Solar Project Finance: Turning Sunlight Into Green Solar Project Finance: Turning Sunlight Into Green
Solar Project Finance: Turning Sunlight Into Green
 
Project financing and public private partnership (ppp)
Project financing and public private partnership (ppp)Project financing and public private partnership (ppp)
Project financing and public private partnership (ppp)
 
19. financing infrastrucutre projects
19. financing infrastrucutre projects19. financing infrastrucutre projects
19. financing infrastrucutre projects
 
Project Financing
Project FinancingProject Financing
Project Financing
 
Project finance emu
Project finance emuProject finance emu
Project finance emu
 
Project Finance Session 01
Project Finance Session 01Project Finance Session 01
Project Finance Session 01
 

Destaque

Janessa Dauberman resume 9-16
Janessa Dauberman resume 9-16Janessa Dauberman resume 9-16
Janessa Dauberman resume 9-16Janessa Dauberman
 
Audience - The Super Power of PPC
Audience - The Super Power of PPCAudience - The Super Power of PPC
Audience - The Super Power of PPCSamantha Noble
 
Willardadvertisingad
WillardadvertisingadWillardadvertisingad
WillardadvertisingadFuju07
 
Los bienes comunes, el procomún, la cultura abierta y libre, la cibercultura,...
Los bienes comunes, el procomún, la cultura abierta y libre, la cibercultura,...Los bienes comunes, el procomún, la cultura abierta y libre, la cibercultura,...
Los bienes comunes, el procomún, la cultura abierta y libre, la cibercultura,...Medialab en Matadero
 
rei2014 plenaria-djalma falcao
rei2014 plenaria-djalma falcaorei2014 plenaria-djalma falcao
rei2014 plenaria-djalma falcaoAna Paula de Mello
 
Pengaruh Budaya Organisasi Terhadap Gaya Komunikasi
Pengaruh Budaya Organisasi Terhadap Gaya KomunikasiPengaruh Budaya Organisasi Terhadap Gaya Komunikasi
Pengaruh Budaya Organisasi Terhadap Gaya KomunikasiUIN Sunan Kalijaga
 
Analisis pengaruh kepemimpinan dan budaya organisasi terhadap kinerja pegawai...
Analisis pengaruh kepemimpinan dan budaya organisasi terhadap kinerja pegawai...Analisis pengaruh kepemimpinan dan budaya organisasi terhadap kinerja pegawai...
Analisis pengaruh kepemimpinan dan budaya organisasi terhadap kinerja pegawai...Chiwong Koer
 
Prinsip dan Teknik Menyampaikan Kisah-Kisah Al-Quran
Prinsip dan Teknik Menyampaikan Kisah-Kisah Al-QuranPrinsip dan Teknik Menyampaikan Kisah-Kisah Al-Quran
Prinsip dan Teknik Menyampaikan Kisah-Kisah Al-QuranParadigma Ibrah Sdn. Bhd.
 
Laboratorios de multitud, un oxímoron revolucionario
Laboratorios de multitud, un oxímoron revolucionarioLaboratorios de multitud, un oxímoron revolucionario
Laboratorios de multitud, un oxímoron revolucionarioMedialab en Matadero
 

Destaque (14)

Polasik_Resume_061316
Polasik_Resume_061316Polasik_Resume_061316
Polasik_Resume_061316
 
Janessa Dauberman resume 9-16
Janessa Dauberman resume 9-16Janessa Dauberman resume 9-16
Janessa Dauberman resume 9-16
 
Audience - The Super Power of PPC
Audience - The Super Power of PPCAudience - The Super Power of PPC
Audience - The Super Power of PPC
 
26/11 Mumbai
26/11 Mumbai26/11 Mumbai
26/11 Mumbai
 
Willardadvertisingad
WillardadvertisingadWillardadvertisingad
Willardadvertisingad
 
Rpp ppkn xii bab 1
Rpp ppkn xii bab 1Rpp ppkn xii bab 1
Rpp ppkn xii bab 1
 
Los bienes comunes, el procomún, la cultura abierta y libre, la cibercultura,...
Los bienes comunes, el procomún, la cultura abierta y libre, la cibercultura,...Los bienes comunes, el procomún, la cultura abierta y libre, la cibercultura,...
Los bienes comunes, el procomún, la cultura abierta y libre, la cibercultura,...
 
rei2014 plenaria-djalma falcao
rei2014 plenaria-djalma falcaorei2014 plenaria-djalma falcao
rei2014 plenaria-djalma falcao
 
Pengaruh Budaya Organisasi Terhadap Gaya Komunikasi
Pengaruh Budaya Organisasi Terhadap Gaya KomunikasiPengaruh Budaya Organisasi Terhadap Gaya Komunikasi
Pengaruh Budaya Organisasi Terhadap Gaya Komunikasi
 
Analisis pengaruh kepemimpinan dan budaya organisasi terhadap kinerja pegawai...
Analisis pengaruh kepemimpinan dan budaya organisasi terhadap kinerja pegawai...Analisis pengaruh kepemimpinan dan budaya organisasi terhadap kinerja pegawai...
Analisis pengaruh kepemimpinan dan budaya organisasi terhadap kinerja pegawai...
 
Prinsip dan Teknik Menyampaikan Kisah-Kisah Al-Quran
Prinsip dan Teknik Menyampaikan Kisah-Kisah Al-QuranPrinsip dan Teknik Menyampaikan Kisah-Kisah Al-Quran
Prinsip dan Teknik Menyampaikan Kisah-Kisah Al-Quran
 
Koperasi
KoperasiKoperasi
Koperasi
 
Sverve
SverveSverve
Sverve
 
Laboratorios de multitud, un oxímoron revolucionario
Laboratorios de multitud, un oxímoron revolucionarioLaboratorios de multitud, un oxímoron revolucionario
Laboratorios de multitud, un oxímoron revolucionario
 

Semelhante a Webinar: Financing large scale integrated CCS projects

Nathalie Le Marcis, Société Générale - L'approccio UK alla CCS:"The potential...
Nathalie Le Marcis, Société Générale - L'approccio UK alla CCS:"The potential...Nathalie Le Marcis, Société Générale - L'approccio UK alla CCS:"The potential...
Nathalie Le Marcis, Société Générale - L'approccio UK alla CCS:"The potential...WEC Italia
 
THE CURRENT STATE OF TAX EQUITY INVESTMENT IN CCUS PROJECTS
THE CURRENT STATE OF TAX EQUITY INVESTMENT IN CCUS PROJECTSTHE CURRENT STATE OF TAX EQUITY INVESTMENT IN CCUS PROJECTS
THE CURRENT STATE OF TAX EQUITY INVESTMENT IN CCUS PROJECTSiQHub
 
CEFI Roadmap for India workshop III
CEFI Roadmap for India workshop IIICEFI Roadmap for India workshop III
CEFI Roadmap for India workshop IIIOECD Environment
 
An incentive mechanism for Industrial CCS? Exploring the findings of the Tees...
An incentive mechanism for Industrial CCS? Exploring the findings of the Tees...An incentive mechanism for Industrial CCS? Exploring the findings of the Tees...
An incentive mechanism for Industrial CCS? Exploring the findings of the Tees...Global CCS Institute
 
OECD presentation - Financing the energy transition in emerging and developin...
OECD presentation - Financing the energy transition in emerging and developin...OECD presentation - Financing the energy transition in emerging and developin...
OECD presentation - Financing the energy transition in emerging and developin...OECD Environment
 
APM Presents - Why project governance and its key principles and challenges
APM Presents - Why project governance and its key principles and challengesAPM Presents - Why project governance and its key principles and challenges
APM Presents - Why project governance and its key principles and challengesAssociation for Project Management
 
Challenges and best practices in financing to accelerate industry decarbonisa...
Challenges and best practices in financing to accelerate industry decarbonisa...Challenges and best practices in financing to accelerate industry decarbonisa...
Challenges and best practices in financing to accelerate industry decarbonisa...OECD Environment
 
Webinar: The business case for CCS in the power industry: a case study of the...
Webinar: The business case for CCS in the power industry: a case study of the...Webinar: The business case for CCS in the power industry: a case study of the...
Webinar: The business case for CCS in the power industry: a case study of the...Global CCS Institute
 
Unlocking Investment and Finance in Emerging Markets and Developing Economies...
Unlocking Investment and Finance in Emerging Markets and Developing Economies...Unlocking Investment and Finance in Emerging Markets and Developing Economies...
Unlocking Investment and Finance in Emerging Markets and Developing Economies...Camilla Oliveira
 
The UK experience in using the 5 Case Model approach for the preparation, a...
The UK experience in using the 5 Case  Model approach for the preparation,  a...The UK experience in using the 5 Case  Model approach for the preparation,  a...
The UK experience in using the 5 Case Model approach for the preparation, a...Caribbean Development Bank
 
Private Sector Perspective on the Green Climate Fund_AfDB 210916
Private Sector Perspective on the Green Climate Fund_AfDB 210916Private Sector Perspective on the Green Climate Fund_AfDB 210916
Private Sector Perspective on the Green Climate Fund_AfDB 210916Gori Daniel
 
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
 
Climate Trust Capital Spotlight
Climate Trust Capital SpotlightClimate Trust Capital Spotlight
Climate Trust Capital SpotlightThe Climate Trust
 
Financing the Transition to a Net-Zero Future: Manuela Fulga - WEF
Financing the Transition to a Net-Zero Future: Manuela Fulga - WEFFinancing the Transition to a Net-Zero Future: Manuela Fulga - WEF
Financing the Transition to a Net-Zero Future: Manuela Fulga - WEFOECD Environment
 
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
 
Capital and infrastructure solution brochure Single FINAL
Capital and infrastructure solution brochure Single FINALCapital and infrastructure solution brochure Single FINAL
Capital and infrastructure solution brochure Single FINALChristopher Matthews
 
IFRS Update-Impact of COVID-19 on Financial Statements
IFRS Update-Impact of COVID-19 on Financial StatementsIFRS Update-Impact of COVID-19 on Financial Statements
IFRS Update-Impact of COVID-19 on Financial StatementsSquare Mile Global Consulting
 

Semelhante a Webinar: Financing large scale integrated CCS projects (20)

Nathalie Le Marcis, Société Générale - L'approccio UK alla CCS:"The potential...
Nathalie Le Marcis, Société Générale - L'approccio UK alla CCS:"The potential...Nathalie Le Marcis, Société Générale - L'approccio UK alla CCS:"The potential...
Nathalie Le Marcis, Société Générale - L'approccio UK alla CCS:"The potential...
 
THE CURRENT STATE OF TAX EQUITY INVESTMENT IN CCUS PROJECTS
THE CURRENT STATE OF TAX EQUITY INVESTMENT IN CCUS PROJECTSTHE CURRENT STATE OF TAX EQUITY INVESTMENT IN CCUS PROJECTS
THE CURRENT STATE OF TAX EQUITY INVESTMENT IN CCUS PROJECTS
 
Sidbi presentation
Sidbi presentationSidbi presentation
Sidbi presentation
 
CEFI Roadmap for India workshop III
CEFI Roadmap for India workshop IIICEFI Roadmap for India workshop III
CEFI Roadmap for India workshop III
 
An incentive mechanism for Industrial CCS? Exploring the findings of the Tees...
An incentive mechanism for Industrial CCS? Exploring the findings of the Tees...An incentive mechanism for Industrial CCS? Exploring the findings of the Tees...
An incentive mechanism for Industrial CCS? Exploring the findings of the Tees...
 
OECD presentation - Financing the energy transition in emerging and developin...
OECD presentation - Financing the energy transition in emerging and developin...OECD presentation - Financing the energy transition in emerging and developin...
OECD presentation - Financing the energy transition in emerging and developin...
 
APM Presents - Why project governance and its key principles and challenges
APM Presents - Why project governance and its key principles and challengesAPM Presents - Why project governance and its key principles and challenges
APM Presents - Why project governance and its key principles and challenges
 
Challenges and best practices in financing to accelerate industry decarbonisa...
Challenges and best practices in financing to accelerate industry decarbonisa...Challenges and best practices in financing to accelerate industry decarbonisa...
Challenges and best practices in financing to accelerate industry decarbonisa...
 
Webinar: The business case for CCS in the power industry: a case study of the...
Webinar: The business case for CCS in the power industry: a case study of the...Webinar: The business case for CCS in the power industry: a case study of the...
Webinar: The business case for CCS in the power industry: a case study of the...
 
Unlocking Investment and Finance in Emerging Markets and Developing Economies...
Unlocking Investment and Finance in Emerging Markets and Developing Economies...Unlocking Investment and Finance in Emerging Markets and Developing Economies...
Unlocking Investment and Finance in Emerging Markets and Developing Economies...
 
Alan Watt - APM Assurance SIG Conference 2018
Alan Watt - APM Assurance SIG Conference 2018Alan Watt - APM Assurance SIG Conference 2018
Alan Watt - APM Assurance SIG Conference 2018
 
The UK experience in using the 5 Case Model approach for the preparation, a...
The UK experience in using the 5 Case  Model approach for the preparation,  a...The UK experience in using the 5 Case  Model approach for the preparation,  a...
The UK experience in using the 5 Case Model approach for the preparation, a...
 
Private Sector Perspective on the Green Climate Fund_AfDB 210916
Private Sector Perspective on the Green Climate Fund_AfDB 210916Private Sector Perspective on the Green Climate Fund_AfDB 210916
Private Sector Perspective on the Green Climate Fund_AfDB 210916
 
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...
 
Climate Trust Capital Spotlight
Climate Trust Capital SpotlightClimate Trust Capital Spotlight
Climate Trust Capital Spotlight
 
Financing the Transition to a Net-Zero Future: Manuela Fulga - WEF
Financing the Transition to a Net-Zero Future: Manuela Fulga - WEFFinancing the Transition to a Net-Zero Future: Manuela Fulga - WEF
Financing the Transition to a Net-Zero Future: Manuela Fulga - WEF
 
Andrew Tipping - Green Growth Diagnostics for Africa
Andrew Tipping - Green Growth Diagnostics for AfricaAndrew Tipping - Green Growth Diagnostics for Africa
Andrew Tipping - Green Growth Diagnostics for Africa
 
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
 
Capital and infrastructure solution brochure Single FINAL
Capital and infrastructure solution brochure Single FINALCapital and infrastructure solution brochure Single FINAL
Capital and infrastructure solution brochure Single FINAL
 
IFRS Update-Impact of COVID-19 on Financial Statements
IFRS Update-Impact of COVID-19 on Financial StatementsIFRS Update-Impact of COVID-19 on Financial Statements
IFRS Update-Impact of COVID-19 on Financial Statements
 

Mais de Global CCS Institute

Northern Lights: A European CO2 transport and storage project
Northern Lights: A European CO2 transport and storage project Northern Lights: A European CO2 transport and storage project
Northern Lights: A European CO2 transport and storage project Global CCS Institute
 
Webinar: Policy priorities to incentivise large scale deployment of CCS
Webinar: Policy priorities to incentivise large scale deployment of CCSWebinar: Policy priorities to incentivise large scale deployment of CCS
Webinar: Policy priorities to incentivise large scale deployment of CCSGlobal CCS Institute
 
Telling the Norwegian CCS Story | PART II: CCS: the path to a sustainable and...
Telling the Norwegian CCS Story | PART II: CCS: the path to a sustainable and...Telling the Norwegian CCS Story | PART II: CCS: the path to a sustainable and...
Telling the Norwegian CCS Story | PART II: CCS: the path to a sustainable and...Global CCS Institute
 
Telling the Norwegian CCS Story | PART I: CCS: the path to sustainable and em...
Telling the Norwegian CCS Story | PART I: CCS: the path to sustainable and em...Telling the Norwegian CCS Story | PART I: CCS: the path to sustainable and em...
Telling the Norwegian CCS Story | PART I: CCS: the path to sustainable and em...Global CCS Institute
 
Decarbonizing Industry Using Carbon Capture: Norway Full Chain CCS
Decarbonizing Industry Using Carbon Capture: Norway Full Chain CCSDecarbonizing Industry Using Carbon Capture: Norway Full Chain CCS
Decarbonizing Industry Using Carbon Capture: Norway Full Chain CCSGlobal CCS Institute
 
Cutting Cost of CO2 Capture in Process Industry (CO2stCap) Project overview &...
Cutting Cost of CO2 Capture in Process Industry (CO2stCap) Project overview &...Cutting Cost of CO2 Capture in Process Industry (CO2stCap) Project overview &...
Cutting Cost of CO2 Capture in Process Industry (CO2stCap) Project overview &...Global CCS Institute
 
Membrane Technology & Research (MTR) Presentation
Membrane Technology & Research (MTR) PresentationMembrane Technology & Research (MTR) Presentation
Membrane Technology & Research (MTR) PresentationGlobal CCS Institute
 
Mission Innovation: Carbon Capture Innovation Challenge
Mission Innovation: Carbon Capture Innovation ChallengeMission Innovation: Carbon Capture Innovation Challenge
Mission Innovation: Carbon Capture Innovation ChallengeGlobal CCS Institute
 
Can the United States Achieve a Low Carbon Economy by 2050?
Can the United States Achieve a Low Carbon Economy by 2050?Can the United States Achieve a Low Carbon Economy by 2050?
Can the United States Achieve a Low Carbon Economy by 2050?Global CCS Institute
 
Webinar Series: Carbon Sequestration Leadership Forum Part 1. CCUS in the Uni...
Webinar Series: Carbon Sequestration Leadership Forum Part 1. CCUS in the Uni...Webinar Series: Carbon Sequestration Leadership Forum Part 1. CCUS in the Uni...
Webinar Series: Carbon Sequestration Leadership Forum Part 1. CCUS in the Uni...Global CCS Institute
 
Energy Security and Prosperity in Australia: A roadmap for carbon capture and...
Energy Security and Prosperity in Australia: A roadmap for carbon capture and...Energy Security and Prosperity in Australia: A roadmap for carbon capture and...
Energy Security and Prosperity in Australia: A roadmap for carbon capture and...Global CCS Institute
 
Webinar Series: Public engagement, education and outreach for CCS. Part 5: So...
Webinar Series: Public engagement, education and outreach for CCS. Part 5: So...Webinar Series: Public engagement, education and outreach for CCS. Part 5: So...
Webinar Series: Public engagement, education and outreach for CCS. Part 5: So...Global CCS Institute
 
Managing carbon geological storage and natural resources in sedimentary basins
Managing carbon geological storage and natural resources in sedimentary basinsManaging carbon geological storage and natural resources in sedimentary basins
Managing carbon geological storage and natural resources in sedimentary basinsGlobal CCS Institute
 
Mercury and other trace metals in the gas from an oxy-combustion demonstratio...
Mercury and other trace metals in the gas from an oxy-combustion demonstratio...Mercury and other trace metals in the gas from an oxy-combustion demonstratio...
Mercury and other trace metals in the gas from an oxy-combustion demonstratio...Global CCS Institute
 
Webinar Series: Public engagement, education and outreach for CCS. Part 4: Is...
Webinar Series: Public engagement, education and outreach for CCS. Part 4: Is...Webinar Series: Public engagement, education and outreach for CCS. Part 4: Is...
Webinar Series: Public engagement, education and outreach for CCS. Part 4: Is...Global CCS Institute
 
Laboratory-scale geochemical and geomechanical testing of near wellbore CO2 i...
Laboratory-scale geochemical and geomechanical testing of near wellbore CO2 i...Laboratory-scale geochemical and geomechanical testing of near wellbore CO2 i...
Laboratory-scale geochemical and geomechanical testing of near wellbore CO2 i...Global CCS Institute
 
Webinar Series: Public engagement, education and outreach for CCS. Part 3: Ca...
Webinar Series: Public engagement, education and outreach for CCS. Part 3: Ca...Webinar Series: Public engagement, education and outreach for CCS. Part 3: Ca...
Webinar Series: Public engagement, education and outreach for CCS. Part 3: Ca...Global CCS Institute
 
Water use of thermal power plants equipped with CO2 capture systems
Water use of thermal power plants equipped with CO2 capture systemsWater use of thermal power plants equipped with CO2 capture systems
Water use of thermal power plants equipped with CO2 capture systemsGlobal CCS Institute
 

Mais de Global CCS Institute (20)

Northern Lights: A European CO2 transport and storage project
Northern Lights: A European CO2 transport and storage project Northern Lights: A European CO2 transport and storage project
Northern Lights: A European CO2 transport and storage project
 
Webinar: Policy priorities to incentivise large scale deployment of CCS
Webinar: Policy priorities to incentivise large scale deployment of CCSWebinar: Policy priorities to incentivise large scale deployment of CCS
Webinar: Policy priorities to incentivise large scale deployment of CCS
 
Telling the Norwegian CCS Story | PART II: CCS: the path to a sustainable and...
Telling the Norwegian CCS Story | PART II: CCS: the path to a sustainable and...Telling the Norwegian CCS Story | PART II: CCS: the path to a sustainable and...
Telling the Norwegian CCS Story | PART II: CCS: the path to a sustainable and...
 
Telling the Norwegian CCS Story | PART I: CCS: the path to sustainable and em...
Telling the Norwegian CCS Story | PART I: CCS: the path to sustainable and em...Telling the Norwegian CCS Story | PART I: CCS: the path to sustainable and em...
Telling the Norwegian CCS Story | PART I: CCS: the path to sustainable and em...
 
Decarbonizing Industry Using Carbon Capture: Norway Full Chain CCS
Decarbonizing Industry Using Carbon Capture: Norway Full Chain CCSDecarbonizing Industry Using Carbon Capture: Norway Full Chain CCS
Decarbonizing Industry Using Carbon Capture: Norway Full Chain CCS
 
Cutting Cost of CO2 Capture in Process Industry (CO2stCap) Project overview &...
Cutting Cost of CO2 Capture in Process Industry (CO2stCap) Project overview &...Cutting Cost of CO2 Capture in Process Industry (CO2stCap) Project overview &...
Cutting Cost of CO2 Capture in Process Industry (CO2stCap) Project overview &...
 
Global CCS Institute Presentation
Global CCS Institute PresentationGlobal CCS Institute Presentation
Global CCS Institute Presentation
 
ION Engineering Presentation
ION Engineering PresentationION Engineering Presentation
ION Engineering Presentation
 
Membrane Technology & Research (MTR) Presentation
Membrane Technology & Research (MTR) PresentationMembrane Technology & Research (MTR) Presentation
Membrane Technology & Research (MTR) Presentation
 
Mission Innovation: Carbon Capture Innovation Challenge
Mission Innovation: Carbon Capture Innovation ChallengeMission Innovation: Carbon Capture Innovation Challenge
Mission Innovation: Carbon Capture Innovation Challenge
 
Can the United States Achieve a Low Carbon Economy by 2050?
Can the United States Achieve a Low Carbon Economy by 2050?Can the United States Achieve a Low Carbon Economy by 2050?
Can the United States Achieve a Low Carbon Economy by 2050?
 
Webinar Series: Carbon Sequestration Leadership Forum Part 1. CCUS in the Uni...
Webinar Series: Carbon Sequestration Leadership Forum Part 1. CCUS in the Uni...Webinar Series: Carbon Sequestration Leadership Forum Part 1. CCUS in the Uni...
Webinar Series: Carbon Sequestration Leadership Forum Part 1. CCUS in the Uni...
 
Energy Security and Prosperity in Australia: A roadmap for carbon capture and...
Energy Security and Prosperity in Australia: A roadmap for carbon capture and...Energy Security and Prosperity in Australia: A roadmap for carbon capture and...
Energy Security and Prosperity in Australia: A roadmap for carbon capture and...
 
Webinar Series: Public engagement, education and outreach for CCS. Part 5: So...
Webinar Series: Public engagement, education and outreach for CCS. Part 5: So...Webinar Series: Public engagement, education and outreach for CCS. Part 5: So...
Webinar Series: Public engagement, education and outreach for CCS. Part 5: So...
 
Managing carbon geological storage and natural resources in sedimentary basins
Managing carbon geological storage and natural resources in sedimentary basinsManaging carbon geological storage and natural resources in sedimentary basins
Managing carbon geological storage and natural resources in sedimentary basins
 
Mercury and other trace metals in the gas from an oxy-combustion demonstratio...
Mercury and other trace metals in the gas from an oxy-combustion demonstratio...Mercury and other trace metals in the gas from an oxy-combustion demonstratio...
Mercury and other trace metals in the gas from an oxy-combustion demonstratio...
 
Webinar Series: Public engagement, education and outreach for CCS. Part 4: Is...
Webinar Series: Public engagement, education and outreach for CCS. Part 4: Is...Webinar Series: Public engagement, education and outreach for CCS. Part 4: Is...
Webinar Series: Public engagement, education and outreach for CCS. Part 4: Is...
 
Laboratory-scale geochemical and geomechanical testing of near wellbore CO2 i...
Laboratory-scale geochemical and geomechanical testing of near wellbore CO2 i...Laboratory-scale geochemical and geomechanical testing of near wellbore CO2 i...
Laboratory-scale geochemical and geomechanical testing of near wellbore CO2 i...
 
Webinar Series: Public engagement, education and outreach for CCS. Part 3: Ca...
Webinar Series: Public engagement, education and outreach for CCS. Part 3: Ca...Webinar Series: Public engagement, education and outreach for CCS. Part 3: Ca...
Webinar Series: Public engagement, education and outreach for CCS. Part 3: Ca...
 
Water use of thermal power plants equipped with CO2 capture systems
Water use of thermal power plants equipped with CO2 capture systemsWater use of thermal power plants equipped with CO2 capture systems
Water use of thermal power plants equipped with CO2 capture systems
 

Último

Solution manual for Intermediate Accounting, 11th Edition by David Spiceland...
Solution manual for  Intermediate Accounting, 11th Edition by David Spiceland...Solution manual for  Intermediate Accounting, 11th Edition by David Spiceland...
Solution manual for Intermediate Accounting, 11th Edition by David Spiceland...mwangimwangi222
 
Slideshare - ONS Economic Forum Slidepack - 18 March 2024.pptx
Slideshare - ONS Economic Forum Slidepack - 18 March 2024.pptxSlideshare - ONS Economic Forum Slidepack - 18 March 2024.pptx
Slideshare - ONS Economic Forum Slidepack - 18 March 2024.pptxOffice for National Statistics
 
Stock Market Brief Deck for 3/22/2024.pdf
Stock Market Brief Deck for 3/22/2024.pdfStock Market Brief Deck for 3/22/2024.pdf
Stock Market Brief Deck for 3/22/2024.pdfMichael Silva
 
Mphasis - Schwab Newsletter PDF - Sample 8707
Mphasis - Schwab Newsletter PDF - Sample 8707Mphasis - Schwab Newsletter PDF - Sample 8707
Mphasis - Schwab Newsletter PDF - Sample 8707harshan90
 
Work and Pensions report into UK corporate DB funding
Work and Pensions report into UK corporate DB fundingWork and Pensions report into UK corporate DB funding
Work and Pensions report into UK corporate DB fundingHenry Tapper
 
Hungarys economy made by Robert Miklos
Hungarys economy   made by Robert MiklosHungarys economy   made by Robert Miklos
Hungarys economy made by Robert Miklosbeduinpower135
 
Sarlat Advisory - Corporate Brochure - 2024
Sarlat Advisory - Corporate Brochure - 2024Sarlat Advisory - Corporate Brochure - 2024
Sarlat Advisory - Corporate Brochure - 2024Guillaume Ⓥ Sarlat
 
LIC PRIVATISATION its a bane or boon.pptx
LIC PRIVATISATION its a bane or boon.pptxLIC PRIVATISATION its a bane or boon.pptx
LIC PRIVATISATION its a bane or boon.pptxsonamyadav7097
 
The Power Laws of Bitcoin: How can an S-curve be a power law?
The Power Laws of Bitcoin: How can an S-curve be a power law?The Power Laws of Bitcoin: How can an S-curve be a power law?
The Power Laws of Bitcoin: How can an S-curve be a power law?Stephen Perrenod
 
MARKET FAILURE SITUATION IN THE ECONOMY.
MARKET FAILURE SITUATION IN THE ECONOMY.MARKET FAILURE SITUATION IN THE ECONOMY.
MARKET FAILURE SITUATION IN THE ECONOMY.Arifa Saeed
 
The unequal battle of inflation and the appropriate sustainable solution | Eu...
The unequal battle of inflation and the appropriate sustainable solution | Eu...The unequal battle of inflation and the appropriate sustainable solution | Eu...
The unequal battle of inflation and the appropriate sustainable solution | Eu...Antonis Zairis
 
20240315 _E-Invoicing Digiteal. .pptx
20240315 _E-Invoicing Digiteal.    .pptx20240315 _E-Invoicing Digiteal.    .pptx
20240315 _E-Invoicing Digiteal. .pptxFinTech Belgium
 
India Economic Survey Complete for the year of 2022 to 2023
India Economic Survey Complete for the year of 2022 to 2023India Economic Survey Complete for the year of 2022 to 2023
India Economic Survey Complete for the year of 2022 to 2023SkillCircle
 
Lundin Gold March 2024 Corporate Presentation - PDAC v1.pdf
Lundin Gold March 2024 Corporate Presentation - PDAC v1.pdfLundin Gold March 2024 Corporate Presentation - PDAC v1.pdf
Lundin Gold March 2024 Corporate Presentation - PDAC v1.pdfAdnet Communications
 
ACCOUNTING FOR BUSINESS.II DEPARTMENTAL ACCOUNTS.
ACCOUNTING FOR BUSINESS.II DEPARTMENTAL ACCOUNTS.ACCOUNTING FOR BUSINESS.II DEPARTMENTAL ACCOUNTS.
ACCOUNTING FOR BUSINESS.II DEPARTMENTAL ACCOUNTS.KumarJayaraman3
 
Taipei, A Hidden Jewel in East Asia - PR Strategy for Tourism
Taipei, A Hidden Jewel in East Asia - PR Strategy for TourismTaipei, A Hidden Jewel in East Asia - PR Strategy for Tourism
Taipei, A Hidden Jewel in East Asia - PR Strategy for TourismBrian Lin
 
Remembering my Totem _Unity is Strength_ growing in Bophuthatswana_Matthews B...
Remembering my Totem _Unity is Strength_ growing in Bophuthatswana_Matthews B...Remembering my Totem _Unity is Strength_ growing in Bophuthatswana_Matthews B...
Remembering my Totem _Unity is Strength_ growing in Bophuthatswana_Matthews B...Matthews Bantsijang
 
Contracts with Interdependent Preferences
Contracts with Interdependent PreferencesContracts with Interdependent Preferences
Contracts with Interdependent PreferencesGRAPE
 
Buy and Sell Urban Tots unlisted shares.pptx
Buy and Sell Urban Tots unlisted shares.pptxBuy and Sell Urban Tots unlisted shares.pptx
Buy and Sell Urban Tots unlisted shares.pptxPrecize Formely Leadoff
 

Último (20)

Solution manual for Intermediate Accounting, 11th Edition by David Spiceland...
Solution manual for  Intermediate Accounting, 11th Edition by David Spiceland...Solution manual for  Intermediate Accounting, 11th Edition by David Spiceland...
Solution manual for Intermediate Accounting, 11th Edition by David Spiceland...
 
Slideshare - ONS Economic Forum Slidepack - 18 March 2024.pptx
Slideshare - ONS Economic Forum Slidepack - 18 March 2024.pptxSlideshare - ONS Economic Forum Slidepack - 18 March 2024.pptx
Slideshare - ONS Economic Forum Slidepack - 18 March 2024.pptx
 
Stock Market Brief Deck for 3/22/2024.pdf
Stock Market Brief Deck for 3/22/2024.pdfStock Market Brief Deck for 3/22/2024.pdf
Stock Market Brief Deck for 3/22/2024.pdf
 
Mphasis - Schwab Newsletter PDF - Sample 8707
Mphasis - Schwab Newsletter PDF - Sample 8707Mphasis - Schwab Newsletter PDF - Sample 8707
Mphasis - Schwab Newsletter PDF - Sample 8707
 
Work and Pensions report into UK corporate DB funding
Work and Pensions report into UK corporate DB fundingWork and Pensions report into UK corporate DB funding
Work and Pensions report into UK corporate DB funding
 
Effects & Policies Of Bank Consolidation
Effects & Policies Of Bank ConsolidationEffects & Policies Of Bank Consolidation
Effects & Policies Of Bank Consolidation
 
Hungarys economy made by Robert Miklos
Hungarys economy   made by Robert MiklosHungarys economy   made by Robert Miklos
Hungarys economy made by Robert Miklos
 
Sarlat Advisory - Corporate Brochure - 2024
Sarlat Advisory - Corporate Brochure - 2024Sarlat Advisory - Corporate Brochure - 2024
Sarlat Advisory - Corporate Brochure - 2024
 
LIC PRIVATISATION its a bane or boon.pptx
LIC PRIVATISATION its a bane or boon.pptxLIC PRIVATISATION its a bane or boon.pptx
LIC PRIVATISATION its a bane or boon.pptx
 
The Power Laws of Bitcoin: How can an S-curve be a power law?
The Power Laws of Bitcoin: How can an S-curve be a power law?The Power Laws of Bitcoin: How can an S-curve be a power law?
The Power Laws of Bitcoin: How can an S-curve be a power law?
 
MARKET FAILURE SITUATION IN THE ECONOMY.
MARKET FAILURE SITUATION IN THE ECONOMY.MARKET FAILURE SITUATION IN THE ECONOMY.
MARKET FAILURE SITUATION IN THE ECONOMY.
 
The unequal battle of inflation and the appropriate sustainable solution | Eu...
The unequal battle of inflation and the appropriate sustainable solution | Eu...The unequal battle of inflation and the appropriate sustainable solution | Eu...
The unequal battle of inflation and the appropriate sustainable solution | Eu...
 
20240315 _E-Invoicing Digiteal. .pptx
20240315 _E-Invoicing Digiteal.    .pptx20240315 _E-Invoicing Digiteal.    .pptx
20240315 _E-Invoicing Digiteal. .pptx
 
India Economic Survey Complete for the year of 2022 to 2023
India Economic Survey Complete for the year of 2022 to 2023India Economic Survey Complete for the year of 2022 to 2023
India Economic Survey Complete for the year of 2022 to 2023
 
Lundin Gold March 2024 Corporate Presentation - PDAC v1.pdf
Lundin Gold March 2024 Corporate Presentation - PDAC v1.pdfLundin Gold March 2024 Corporate Presentation - PDAC v1.pdf
Lundin Gold March 2024 Corporate Presentation - PDAC v1.pdf
 
ACCOUNTING FOR BUSINESS.II DEPARTMENTAL ACCOUNTS.
ACCOUNTING FOR BUSINESS.II DEPARTMENTAL ACCOUNTS.ACCOUNTING FOR BUSINESS.II DEPARTMENTAL ACCOUNTS.
ACCOUNTING FOR BUSINESS.II DEPARTMENTAL ACCOUNTS.
 
Taipei, A Hidden Jewel in East Asia - PR Strategy for Tourism
Taipei, A Hidden Jewel in East Asia - PR Strategy for TourismTaipei, A Hidden Jewel in East Asia - PR Strategy for Tourism
Taipei, A Hidden Jewel in East Asia - PR Strategy for Tourism
 
Remembering my Totem _Unity is Strength_ growing in Bophuthatswana_Matthews B...
Remembering my Totem _Unity is Strength_ growing in Bophuthatswana_Matthews B...Remembering my Totem _Unity is Strength_ growing in Bophuthatswana_Matthews B...
Remembering my Totem _Unity is Strength_ growing in Bophuthatswana_Matthews B...
 
Contracts with Interdependent Preferences
Contracts with Interdependent PreferencesContracts with Interdependent Preferences
Contracts with Interdependent Preferences
 
Buy and Sell Urban Tots unlisted shares.pptx
Buy and Sell Urban Tots unlisted shares.pptxBuy and Sell Urban Tots unlisted shares.pptx
Buy and Sell Urban Tots unlisted shares.pptx
 

Webinar: Financing large scale integrated CCS projects

  • 1. Financing large scale integrated CCS projects Webinar – 23 June 2013, 1800 AEST
  • 2. Allan Baker Allan Baker Managing Director, Global Head of Power Advisory and Project Finance has worked at Société Générale for six years and has been involved in the power sector for more than 25 years, initially as an engineer and then in finance. During his career he has advised on and financed projects in Europe, MENA, the US and Asia, and in sectors ranging from green-field renewable energy to the acquisition of large thermal power portfolios. This experience has also encompassed regulated, partially deregulated and merchant power markets. In recent years he has become a leading figure in the CCS area, having been instrumental in bringing the financing perspective to the policy debate based on his experience of advising on to two of the world’s largest carbon capture and storage (CCS) projects. Allan was also a member of the UK Government’s CCS Development Forum and led the commercial section of the UK CCS Cost Reduction Task Force, whose results were published in a report in 2013. Allan is currently advising the Managing Director, Global Head of Power Advisory and Project Finance White Rose CCS project in the UK, which has recently been shortlisted for the FEED stage of the UK CCS Commercialisation scheme. Allan has a BSc (Hons) in Mechanical Engineering, an MBA, is a Fellow of the Institution of Mechanical Engineers and a Chartered Engineer.
  • 3. QUESTIONS  We will collect questions during the presentation.  Your MC will pose these question to the presenter after the presentation.  Please submit your questions directly into the GoToWebinar control panel. The webinar will start shortly.
  • 4. GLOBAL CCS INSTITUTE WEBINAR Financing Large Scale Integrated CCS Demonstration Projects Allan Baker Managing Director Global Head of Power 25 June 2014
  • 5. 5 18/03/2022 This presentation has been prepared by Société Générale Corporate & Investment Banking ("SG CIB"), a division of Société Générale. In preparing this presentation, SG CIB has used information available from public sources. No express or implied representation or warranty as to the accuracy or completeness of such information is made by SG CIB, nor any other party. The contents of this presentation are subject to amendment or change at any time and SG CIB will not notify the recipients of any such amendment or change. No responsibility or liability (express or implied) is accepted for any errors, omissions or misstatements by SG CIB except in the case of fraud or any other liability which cannot lawfully be excluded. Any views, opinions or conclusions contained in this presentation are indicative only, are not based on independent research and do not represent any commitment from SG CIB. This presentation and any expressed interest of SG CIB in arranging or of Société Générale in providing finance or entering into any other transactions do not constitute any offer of finance or any commitment from Société Générale to enter into any other transactions, such an offer being subject to contract, the completion of satisfactory due diligence and all necessary credit, management and other approvals being obtained. SG CIB conducts its business in the UK through Société Générale London Branch (“SGLB”). Société Générale is a French credit institution (bank) authorised and supervised by the Autorité de Contrôle Prudentiel (the French Prudential Control Authority). SGLB is subject to limited regulation in the UK by the Financial Services Authority.
  • 6. 6 18/03/2022 AGENDA 1. BACKGROUND 2. THE FINANCING CHALLENGE 3. WHAT MAKES A PROJECT FINANCEABLE? 4. HOW DOES CCS MEASURE UP? 5. CAN CCS BENEFIT FROM LESSONS LEARNED IN OTHER SECTORS 6. WILL FINANCIAL INSTITUTIONS SUPPORT CCS? 7. FINANCING APPROACH 8. CONCLUSION
  • 7. 7 18/03/2022 BACKGROUND  Financial will be essential to the development of CCS: ● Large scale demonstration projects to date have been financed by the public sector/government ● Commercial terms and risk allocation probably do not align with requirements of the finance sector ● Financial sector have not engaged with CCS to date – see it as experimental, expensive, long term, not interesting  Methodology for this engagement exercise: ● Comprehensive review of published material and experience ● Extensive engagement with commercial banks, ECAs, multi-laterals and other potential financing sources ● Evaluation of their understanding and perception of CCS ● Perceived and real financing related issues  Objectives: ● Understand where the finance community stand on CCS now ● Understand the challenges facing demonstration projects wishing to access external financing ● Understand what will be required to close a financing for a large scale demonstration project Commercial challenges could be more significant than technical challenges
  • 8. 8 18/03/2022 THE CCS FINANCING CHALLENGE - PERCEPTION Lack of an industry – lack of precedent – lack of interest  Familiarity: ● Perception is that there are no CCS projects in operation ● Coverage of CCS in industry press is sketchy ● Cancelled flag-ship projects imply that industry is speculative  Precedent: ● Technology: CCS technology perceived as “new” ● Integration: complex inter-dependent chain ● Storage: outside comfort zone and unaware of existing sites ● Risk: no precedent risk allocation Demonstration projects are predominantly in power – operating projects are not and have not been externally financed
  • 9. 9 18/03/2022 the CCS Financing challenge – clarity & structure Regional differences in policy and approach impact on financing  US is Carbon Capture, Use & storage: ● Established infrastructure for CO2 collection and transportation ● Established market for CO2 for EOR and even a projected shortage of supply ● Contractual precedent and risk allocation to underpin the industry  Europe is Carbon Capture, use & Storage: ● No pre-existing infrastructure – has to be established which has cost implications ● No pre-existing EOR industry as anchor buyer for CO2 ● Vast offshore storage potential but resistance to onshore storage Policy Implications:  CO2 is a valuable commodity in the US and a liability in Europe – impacts on regulatory environment  EOR is established in the US and a revenue source to off-set the cost of CCS  Poly-gen projects offer potentially more revenue streams = Significant difference in policy approach Financing Implications:  Structure of the US industry looks more like a commercial financing opportunity, albeit with some DOE support  Europe has a very different risk profile and cost base so more dependent on capital and operating subsidy = Confusion on the financing opportunity and approach
  • 10. 10 18/03/2022 WHAT MAKES A PROJECT FINANCEABLE...? Some fundamentals apply to finance what ever the sector  Policy and Regulatory Support: ● Clarity and consistency are key for confidence in the finance community ● Even more so when an industry requires heavy subsidy for early deployment of long life capital intensive assets  Technology: ● The finance community is not good at “first-of-a-kind” projects ● Availability of finance is usually inversely proportional to new technology  Risk Allocation: ● Project finance is all about identifying and pricing risk ● Some risks cannot be taken at any price !!  Opportunity: ● Different institutions have different drivers but “one-off” projects are usually not good targets ● Opportunity could be in terms of multiple follow-on projects and client relationships (commercial banks), support for manufacturing/exports (ECAs), development of a sector/technology/policy (multi-laterals & policy banks) Developing a new sector is an investment for financial institutions
  • 11. 11 18/03/2022 HOW DOES CCS MEASURE UP ...? ≈ Policy and Regulatory Support: ● Policy and regulatory support varies significantly region by region and even country by country ● In many cases policy, and particularly regulation, are evolving ● Emergence of very supportive regulatory templates – still need to be proven ≈ Technology: ● It is evident that much of the technology for CCS exists but in some cases at a different scale in a different context ● EOR, and to a certain extent storage, have been proven context is important ● Integration remains a concern – many financial institutions do not have integrated teams to look at CCS Risk Allocation: ● Risk allocation on operating projects and large scale plants in development may not be adequate for finance ● CCS specific risks, and ultimately stranded asset risk remain a material concern for the finance community ● Early commercially financed projects will require conservative “bespoke” risk allocation or extensive support Opportunity: ● CCS increasingly being seen as a key component of decarbonisation ● Increasing awareness of the opportunity “recognisable” projects heading for commissioning – Kemper, Boundary Dam Three years ago all four would have been a thumbs down – so progress !
  • 12. 12 18/03/2022 CAN CCS BENEFIT FROM LESSONS LEARNED IN OTHER SECTORS ...? Offshore wind seems most relevant  Key drivers for take off: ● Strong policy support in Europe ● Specific subsidy regime to compensate for cost ● Specific targets for deployment in some areas ● Strong support from large OEMs and developers ● Favourable risk allocation  Finance successfully mobilised: ● Started small but now $1bn deals done ● Financial institutions taking more risk ● Wide variety of institutions involved But..... ● It took 5 years from the real start of offshore wind to the first financed project ● Debt finance growth has lagged capacity installed ● Early mover finance ahead of significant capacity ● Finance increased significantly with improved incentives ● Early projects have very conservative risk allocation
  • 13. 13 18/03/2022 WILL FINANCIAL INSTITUTIONS SUPPORT CCS ...?  There is clear interest in CCS developing in the finance community  Interest does not equate to understanding  Mobilising finance will require stakeholder cooperation, education and careful structuring  The finance community currently see risk in CCS but have not fully evaluated this risk CCS has an open door – success breeds success
  • 14. 14 18/03/2022 WILL FINANCIAL INSTITUTIONS SUPPORT CCS ...? Financing is likely to come from various different sources.....  Commercial (Project Finance) Banks: ● Experienced in risk analysis, financing complex projects and active in sectors where CCS is applicable ● Huge global liquidity – Over US$400bn of funding to more than 1,000 transactions globally in 2013 ● Will focus heavily on issues previously discussed  Export Credit Agencies (ECAs): ● Significant role in risk enhancement to increase liquidity ● Involvement will be based on national interest ● Already showing significant interest  PFIs and Multilaterals: ● Strategic role in development of clean energy ● Significant interest in CCS ● Provided substantial support to offshore wind for example  Other sources: ● Capital markets – usually reluctant to take new technology risk ● Scope for credit enhancement structures – Infrastructure UK, EU 2020 etc ECAs & Multi-laterals play a significant role in offshore wind
  • 15. 15 18/03/2022 financing approach – the financial institution process Financial institutions will go through defined steps to a greater of lesser extent.....  Identification: ● Institutions have to identify CCS as an opportunity ● Undertake high level research & due diligence on the sector  Education: ● Undertake more extensive due diligence on market and opportunity ● Prepare a business case for inclusion in strategy ● Internal education process  Buy-in: ● Internal management support for dedicating resource to the sector ● In principle support to lend to the sector  Execution: ● Detailed assessment and structuring of an actual transaction ● Full management and credit approval Understanding and fully supporting this process is essential
  • 16. 16 18/03/2022 financing approach – how it could work in practice In reality........  The process is likely to be more iterative, with feed back into structuring  Close cooperation with potential lenders is essential to inform commercial/risk negotiations  This is an untested process for CCS so a pragmatic approach will be required Simplistically, a CCS financing process may incorporate the following
  • 17. 17 18/03/2022 REAL PROJECTS NOW LOOKING FOR COMMERCIAL FINANCE Texas Clean Energy, USA Polygen project targeting potential Chinese bank and ECA financing with some backing from DOE. Multiple revenue streams to underpin the financing needed to complete the project. White Rose, UK Oxy-combustion project currently at FEED study stage (partly UK government funded). No EOR angle but expected to benefit from UK Government grant funding and ongoing operating revenue support through a CFD mechanism. Currently engaged with a number of financial institutions and multilaterals on potential financing.
  • 18. 18 18/03/2022 CONCLUSION  The work undertaken for this report highlights a significant change in the perception in the minds of the finance community who are now interested in the potential of CCS  At the same time we are seeing the completion of large-scale CCS projects which, whilst not commercially financed, are none the less providing precedent for technology, costing and commercial structures  The current divergence of project technology, business model and policy/regulatory landscape is still a cause for confusion for the finance community but some core clients are now leading projects  There is in our view sufficient capacity to allow for commercial finance of large-scale demonstration projects but risk allocation and commercial structure will be key to mobilising this funding – inevitably this will translate into conservative structures for early project which in turn equates to additional costs (contingencies, financial support etc) for implementing early projects  Costs should fall as follow on projects are executed but the pace of cost reduction depends to a certain extent on replication of technology, the number of projects executed and timeframe. In the same way financing should become more available and more competitive as precedent develops as we have seen in other industries  The positive message from this report is that the finance community is now turning its focus to CCS based on: o The emergence of tangible projects on which to start commercial debt structuring o The availability of firm revenue streams whether commercial (EOR) or policy driven (incentive tariff mechanisms) o Policy development – particularly evident in the UK with substantial political and financial support For the finance community CCS has moved from ‘too difficult’ to ‘potentially interesting’ The key is to maintain the building momentum to turn demonstration into an industry
  • 19. QUESTIONS / DISCUSSION Please submit your questions in English directly into the GoToWebinar control panel. The webinar will start shortly.
  • 20. Please submit any feedback to: webinar@globalccsinstitute.com View the report: www.globalccsinstitute.com/publications/targeted- report-financing-large-scale-integrated-ccs-demonstration-projects