Knowledge-Transfer Webinar: Project Financing and Risk Management

Last week, the Women in Wind Global Leadership Program held its second Knowledge-Transfer Webinar, where our 2020 mentors and mentees discussed Project Financing and Risk Management in the wind energy sector with Marina Grilicka, Risk Officer at Parkwind, and Elizabeth Baxter, Principal Banker on the Energy EMEA team at the European Bank for Reconstruction and Development (EBRD)

Thanks to her significant experience in the the identification of risks related to the development, construction and operation of offshore wind farms, Marina Grilicka (pictured below) discussed different types of risks that can arise at various stages of development and construction of an offshore wind project, and shared useful tips to identify and keep track of such risks.

Marina illustrated examples of project risks during various phases, from the pre-construction phase (such as related to auctioning, greenfield development, and M&A) to the development phase (such as related to design, tendering and contracting, and financial close) and finally the construction and installation phase (such as related to fabrication, transport, and installation of components).

Drawing from her expertise in the origination, execution and monitoring of project finance lending in the onshore wind sector in Europe, Elizabeth Baxter (pictured below) discussed the typical project financing structure for an onshore wind farm and typical finance lending conditions, as well as tracing a comprehensive portrait of major trends in the finance lending sector from the 1970s to the present day.

This included an analysis of how finance lending institutions operations changed in view to the downward trend of cost for renewable energy, a change in subsidy structures in Europe and how lenders consider different off-take alternatives.

We had a high level of engagement with participants and mentors raising questions and sharing their experiences in the wind industry in different countries, both during the Q&A and the discussion sessions. 

The next Knowledge-Transfer Webinar for the 2020 program will take place this summer and focus on negotiation skills. Watch this space for the next summary!

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