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Principles of Valuation in the Power Sector

Produced by the Knowledge Center, expert training from S&P Global Market Intelligence

Navigate economic volatility and industry challenges with our useful 2-1/2 day training seminar, Principles of Valuation in the Power Sector, which includes a Renewable Energy Valuation Workshop. 

This is a comprehensive introduction to the essential concepts and methodologies needed for valuations of assets and power generators. Unlike generalized valuation programs, you will be focused exclusively on the power sector and learn from an accomplished practitioner with over 25 years of experience valuing hundreds of plants and utilities.

As an attendee, you will:

  • Learn how to value individual power plants (including renewable assets) and whole companies
  • Be able to identify valuation frameworks, specific and practical to the US power sector
  • Understand value drivers for utilities and individual power plants
  • Gain skills needed to confidently perform due diligence of valuation assumptions
  • Walk away with models and techniques that have direct application to the power sector

This program is designed for:

  • Finance, investor relations, or corporate strategy/development professionals at power or gas companies
  • Professionals in investment banking, project finance, asset management, hedge funds, or equity/ fixed income research
  • Consultants, accountants and lawyers who advise power and gas clients
  • Industry regulators
  • Current and potential investors, suppliers, or professionals looking for an understanding of how Wall Street analyzes the power and gas sector and the fundamentals that bear on their analyses

Attend our optional Renewable Energy Valuation Workshop on March 22.

Learn about key financial topics and specific tactics for computing ROE more effectively in the renewable space. This workshop is valuable for anyone involved in renewables, including utilities analysts, renewables developers, investment banking analysts, and modelers.

Join us on March 20-21, 2018, with Optional Renewable Energy Valuation Workshop on March 22, New York, NY

Instructor

James W. Bowen

President,
Momentum Development Corporation

Jim Bowen is President of Momentum Development Corporation, which provides advisory and management services to clients in the energy sector, including banks, investment funds, and principal investors.  This is the ninth year he has taught this course for S&P Global Market Intelligence and its predecessors.

As a veteran consultant in the energy industry, Jim has valued hundreds of power plants, integrated utilities, transmission and distribution systems, power purchase agreements, tolling agreements, options, and midstream and downstream energy assets.

Jim is a lecturer at the Tuck School of Business at Dartmouth University and was an adjunct faculty member at the U.S. Military Academy at West Point.  Jim taught for nearly 20 years at McKinsey & Company’s internal training programs. Prior to founding Momentum Development, Jim was a consultant with McKinsey, a litigation attorney with Akin, Gump, Strauss, Hauer & Feld LLP, and an officer in the U.S. Army.

He holds a J.D., cum laude, from the Harvard Law School, a Master of Science in Financial Management from the University of London, and a Bachelor of Science in Economics from the U.S. Military Academy.

Principles of Valuation in the Power Sector Agenda

TIME
TUESDAY, March 20th
Agenda is tentative. Please check back for updates.
7:45 am
Registration and Continental Breakfast
8:30 am
Introduction and Overview
9:00 am
Valuation of a Single Plant
10:30 am
Refreshment Break
10:45 am
Case Study
12:00 pm
Lunch
1:00 pm
Valuation of other Generation Assets: Hydro, Nuclear, Coal, Renewables and Peaking Assets
2:15 pm
Other Valuation Techniques: Comparables, Multiples, Real Options
3:00 pm
Refreshment Break
3:15 pm
Valuing Power Purchase Agreements (PPAs) and Tolling Agreements
4:00 pm
The Relationship Between DCF and ROE
4:30 pm
Debt Capital Markets Considerations
5:00 pm
Day One concludes
TIME
WEDNESDAY, March 21st
8:00 am
Registration and Continental Breakfast
8:30 am
Valuation of a Regulated Utility: Discussion
10:00 am
Refreshment Break
10:15 am
Valuing Transmission and Distribution Businesses and Assets
11:00 am
Valuing Regulated Generation Assets
12:00 pm
Lunch
1:00 pm
Putting the Pieces Together: Valuing An Integrated Utility
1:45 pm
Case Study
2:45 pm
Refreshment Break
3:00 pm
Other Valuation Issues:
  • • M&A and Regulatory Environment Considerations
  • • Regulatory Value Drivers
  • • Mitigating Risks to Value
  • • Project Finance
5:00 pm
Day Two concludes
TIME
THURSDAY, March 22nd
8:00 am
Registration and Continental Breakfast
8:30 am
Valuation of Renewable Assets Using DCF; Computing ROE
10:00 am
Refreshment Break
10:15 am
Case Study
11:00 am
Renewable Finance Topics:
  • • Storage
  • • Tax Considerations for Value Creation
  • • Risk Allocation in Power Purchase Agreements
12:00 pm
Program concludes
More

Ticket Info

Main Seminar + Workshop: $2,695
Main Seminar only: $2,195
Workshop only: $595
Register

Event location

Convene Conference Center
730 Third Ave,
New York, NY 10017

Registration includes all program work materials, plus continental breakfast and lunch both days.

Group pricing discounts are available. Contact us at +1 (888) 991-7786

Downloads & FAQs

Who Attends?
Principles of Valuation in the Power Sector is designed for:

  • Finance, corporate development/strategy, and investor relations professionals at power and utilities companies
  • Professionals in investment banking, project finance, asset management, hedge funds, or equity/fixed income research
  • Consultants, accountants and lawyers who advise power clients
  • Current and potential suppliers or professionals looking for an understanding of how Wall Street analyzes the power and gas sector and the fundamentals that bear on their analyses
  • M&A professionals
  • Renewable energy professionals, developers, analysts
  • State and Federal regulatory agencies interested in a deeper understanding of valuation techniques and the methods investors and developers use

Prerequisites:
This program presumes familiarity with basic accounting and finance concepts. Participants will need to bring a laptop computer equipped with Microsoft Excel.

"Great instructor with tremendous deal-making experience."
– Director of Finance and Business Planning, A Regulated Utility Company

"A good balance of real world and academic perspectives – highly recommended."
– Manager, Analytics & Asset Optimization, An Energy Company

"Great case studies. I liked walking through the NPV model."
– Senior Financial Analyst, A Power Solutions Company

Are there any group discounts?

Group Pricing Discounts for Seminars

 Number of Attendees  3  4  5+
 Seminars*  20%  25%  30%

*Excludes conferences and partnership programs - call for more information

Contact us at +1 (888) 991-7786 to register your group or inquire about in-house training

Discounts only apply on regular prices and cannot be applied to early bird pricing and special offers

What is the dress code? 
Business casual. 

Do I need a laptop? 
Yes, because this seminar features Excel based analysis, participants will need to bring a laptop computer with access to Microsoft Excel and a calculator.  

What is the cancellation policy? 
Cancellations for this program are eligible for a full refund, less a $150.00 administrative fee, if received at least 15 business days prior to the start of the program. Cancellations received after that date but at least 5 business days prior to the start of the program receive a credit in the amount of the registration fee, less a $150.00 administrative fee, to attend another Knowledge Center program within 13 months. Cancellations received fewer than 5 business days prior to the start of the program are not eligible for a refund or credit. 

Attendee substitutions from the same company may be made at any time.

In the event of a cancellation from a group discount, refunds or credits are issued beginning with the most heavily discounted price, minus a $150.00 administration fee.

"No shows" - or those who cancel within 15 days of the program - and have registered under the Invoice option, remain liable for the full program fee.

The Knowledge Center reserves the right to cancel/change programs, content, speakers or venue at any time. The Knowledge Center reserves the right to make portions of the program registration information available to program sponsors. The Knowledge Center will not be held liable for any costs incurred by registrant due to individual registration cancellation. In the event that a seminar is cancelled due to inclement weather, faculty cancellation or force majeure, the Knowledge Center will refund the registrant's tuition in full, however the Knowledge Center will not be liable for incidental or consequential out of pocket expenses incurred by the registrant. If you have questions regarding the Knowledge Center's refund, complaint or program cancellation policy, please call us at (434) 951-7786.

Registrant, as an individual person attending a Knowledge Center conference, seminar, or other program, hereby grants permission to the Knowledge Center to use and publish his or her image, likeness, or testimonials collected in connection with the program for advertising and trade purposes in connection with the Knowledge Center’s conferences, instructional, and/or marketing activities.