Renewable Energy Development and Finance
Adjunct Professor Mark D. Safty
The objective of this course is to create a base of understanding about the development and financing of renewable energy projects. After introducing essential electric industry concepts, terms and systems, we will review the contractual infrastructure of a renewable energy project (wind or solar, or a combination of the two). This review will include a summary of documents for site control, permitting, interconnection to the grid and transmission of energy, construction of the project and power sales agreements, and an analysis of why getting these documents right and having them properly integrated is essential to a successful financing of the project. The last two class sessions will focus specifically on structure of, and principal documents associated with, a non-recourse project financing. A significant portion of the financing discussion will be based on a case study of a recently-completed financing for a wind energy project in Alaska.
Brief introductory reading materials will be assigned and distributed in advance of the first class. The final examination for the course will consist of 10 “short answer” questions; each student will select 8 of these questions to answer in a “take-home, open book” setting.