Leadership Profile Programme

March 12, 2013

Securing Financial CloseRapdly and Cost Effectivley

Luis DuranEnergy and Clean Technologies

Business Banking, May 2015

Process Overview

Phase 1 – Initial Proposal

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Bank:• Meet us early on in the process. i.e. at least 6 months• Understand what’s in scope and what isn’t• Seek Indicative Term Sheet - what can the Bank do for you?

Advisors:• Appoint early on• Seek credentials• Seek compromise on payment terms• Allow for seaonality – e.g. BES

Turbine: • Peace of mind is paramount• Are you comparing apples with apples?

The term sheet is a non-binding document. It will give you a good indication of project terms. Remember it is subject to Credit Committee approval!!

Phase 2 – Secure A Term Sheet

We stress test your projections in our own PF model

We prepare a brief project summary- Project is graded

Head of business unit sign off

Term sheet is issued

Includes Pricing, C.P.s, Security, events of default etc.

Process can take 2-3 weeks from first meeting

Securing a Term Sheet – Phase 2How do we stress test a project? How much debt can the project withold?

Stress testing – Some things we look at :

Term: Construction plus 15 yrs

Wind Resource Bank case - always P90

Leverage Driven by DSCR of 1.2 (can be sculpted)

BES Repayment must be evident

Supplier Lite Reserve Account required– REFIT Price Only

Contingency At least 3% - Depending on level of advancement

Credit Approval and Drawdown – Phase 3

Creditt Committe:

Independent body

May seek clarifications

Formal Approval

Letter of Sanction Includes

a long list of C.P.s

Appoint Legal & Tech Advisors Initiate due

diligence Process

Review and prep key docs

Due Diligence Complete All C.Ps met Project Docs Finalised Security docs

in Place

Drawdown

1 week 1 week 3-5 weeks 1 week

Drawdwown: Securing a Satisfactory Outcome Completeness: Upoload everything on to data room ASAP- This is typically

the biggest delay

Timing: Allow time for Bank Lawyers and Technical Advisers to review and

input into key documents early on in the process

Quick Turnaround: Insist on weekly update calls same day turn around –

all parties involved

Cost Effciencies: Avoid dupplication - costs can be greatly reduced

Thank You!

Any Questions?