EPC and Finance: the new phase of renewables

How to build and how to finance: the industry questions the industry

A direct comparison between institutions, industry and finance to frame the new context in which renewables will operate and promote new collaboration models between banks and EPCs, with the aim of reducing operational and financial barriers to the implementation of renewable projects in a market phase characterized by a transition towards systemic maturation and new route-to-market. After a keynote by Elemens, 3 panels are scheduled (institutions, EPC, finance), each moderated by an industry leader.

Program

10:30 Introduction and keynote speech by Elemens
The current context in which RES and BESS operate in the Italian market will be outlined, with references to regulatory evolution, construction challenges and current financing constraints.

10:50 First panel - institutions
The institutions of the electricity sector will be called to discuss the elements related to market design around which the new season of RES and BESS will be shaped. There will be discussions on how regulation, at the center of this phase, could evolve in the coming months and years (final FER-X, MACSE, Capacity might not be simple copy-paste of the past, also in light of the new geopolitical framework and the NZIA) and how operators will have to adapt.

Participating in the panel, moderated by Tommaso Barbetti (Partner, Elemens):
Federico Boschi, Head of Energy Department, MASE
Davide Valenzano, Director of Regulation and Market, GSE
Mauro Caprabianca, Head of Territorial Planning, Terna

11.30 Second panel - EPC
Four EPCs will discuss what are, today, the critical elements for the construction of RES and BESS plants. They will talk about the competitive framework (is there really a bottleneck?), operational challenges (from secondary permitting to adaptation to NZIA), prices (were the calculations made in FER-X and MACSE correct?) and how the supply framework could evolve, also in light of recent fiscal decisions by the Chinese Government.

Participating in the panel, moderated by Roberto Pasqua (CEO, EDP Italia):
Alessandra Toschi, Director, Baywa-RE Italia
Valerio Natalizia, CEO, Eco
Giuseppe Artizzu, CEO, Nhoa
Alberto Gatta, Head of Construction, IVPC

12.15 Third Panel - Finance
Four major banks will discuss how they are approaching this new season of renewables. A phase characterized by a wide presence of regulation in revenues - historically appreciated by the banking system - but also by a growing hybridization with merchant components (Energy Release, FER-X, FER-Z prospects) and more complex project structures. There will be discussions on bankability, leverage and credit flexibility in a context where a new generation of capital-light developers is emerging, who finance development and, at the time of implementation, find themselves having to open up capital to achieve full financiability.

Participating in the panel, moderated by Marzia Gasperoni (CFO, Enel Lybra):
Claudia Pala, Director, ING
Roberto Massarenti, Head of Infrastructure Finance, Natixis
Ernesto Chiorazzi, CEO, Banca Italia Ambiente e Energia
Alessandro Steffanoni, Managing director, Intesa San Paolo