The infamous "duck curve" which shows negative power prices in California has been presented at least once in every conference since 2017 but is this a sign of cannibalisation of prices and will it be the future of selling power? We are seeing shorter terms for PPAs and, particularly in the corporate off-taker space, a reluctance to take on too much risk from buyers, how can project sponsors de-risk? What mechanisms are available to hedge merchant risk, and how will financial instruments and technology evolve to assist?
- Power prices moving forward – is solar cannibalising itself?
- Financial hedges to merchant risk are they a good solution?
- Bank Hedges
- Synthetic PPAs
- Electricity Forward Contracts
- Proxy Revenue Swaps
- Is merchant risk overpriced in some markets such as Spain?
- How could newer players (e.g. companies familiar with trading commodities) to the renewables sector assist in absorbing risk?
- Regulatory risk vs. market risk – is market risk more acute or just newer to investors?
- The role of PPAs in the future and how PPAs are changing
- How the UK over-the-counter electricity market operates
- The challenges of trading intermittent power to achieve a 100% hedge
- How are trades being executed?
- Trading short term power vs long term power
- Different hedging strategies to optimise exposure
- How is liquidity in the market going to change as renewables become the dominant energy source?
- Do we need a futures exchange market for intermittent power?
This session will look at some of the pricing trends seen in 2019. We will look at closed PPAs across various European markets to assess what happened in 2019 in terms of power pricing.
As we move past the 500 GW stage of the industry, towards the first terawatt of solar PV, this closing keynote panel will inspire the audience to push towards terawatts of installations and trillions of Euros of investment. We will close the session by discussing 5 challenges that the industry needs to work to solve to mature to the next level:
- Helping governments and voters to push for effective support mechanisms as part of a wider decarbonisation strategy Educating institutional investors with deeper pockets and longer-term horizons
- Working with large energy buyers effectively
- Integrating storage, low carbon generation and EVs into the wider offering
- Digitising technology and ensuring that equipment and services costs reduce in line with high-quality being achieved
10GW worth of bids were tabled for the 1.4GW PV tender, with 64 projects competing for 24 auction lots and the deadline was extended for a week with winners expected to be announced on the 10th August 2019. This session will examine the results, especially the pricing of the winning bids, and next steps in the process. With a storage tender expected in 2020. Portugal is one of the most active markets in Europe but do the economics work for investors?
- What should investors in the Australian market expect?
- What are the different operational aspects project owners will need to bear in mind with Australian assets?
- What are the learnings from O&M in other countries to handle key challenges for O&M excellence?
Please join us for a drink, kindly sponsored by GCL.
Sponsored by Huawei
Solar Finance & Investment Europe Networking Dinner
Simpson’s in the Strand
Wednesday 5th February 2020 Drinks from 7:30 PM, Dining from 8:00 PM
Simpson’s is connected to the Savoy Hotel and has been a British dining institution since 1828 and has counted George Bernard Shaw and Charles Dickens as regulars. The restaurant is famed for serving British classics in a unique and traditional setting in the heart of London’s West End.
The dinner will be hosted in partnership with Nth Degree, a private dining club lead by Robert Walton MBE, who is the President of the Restaurant Association of Great Britain.
Strict capacity of 130 seats, tickets must be bought for £149 in addition to your conference pass.