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13-14 November 2019 The Mayfair Hotel, Coconut Grove, Miami, USA 2019

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Page 1: 13-14 November 2019 The Mayfair Hotel, Coconut Grove ... · Renewable energy as a share of total generation has risen to over 20%, and a record-breaking corporate PPA agreement was

13-14 November 2019The Mayfair Hotel,Coconut Grove, Miami, USA

2019

Page 2: 13-14 November 2019 The Mayfair Hotel, Coconut Grove ... · Renewable energy as a share of total generation has risen to over 20%, and a record-breaking corporate PPA agreement was

Thank You To Our Sponsors

SPONSORS:

SUPPORTER:ICE BREAKER DRINKS SPONSOR:

MEDIA PARTNER:

Page 3: 13-14 November 2019 The Mayfair Hotel, Coconut Grove ... · Renewable energy as a share of total generation has risen to over 20%, and a record-breaking corporate PPA agreement was

Why Attend?

Interactive‘idea labs’

Data drivendiscussion panels

Gameshowformats

Meet the men and women be-hind the project finance curtain - granting authorities, PPP units and energy departments will be

in Miami en masse.

Our agenda confronts and explores the debate around assets, project risks, and geopolitics that drive risk-appetite in Latin America.

Meet heads of power, renewables, infra-structure, and structured finance from the leading bond and loan arrangers and advi-

sors in Latin America.

*Other includes Insurers, Law Firms, Rating Agencies, technology providers,

NGOs & corporate off-takers.

Our fun break-out formats, slick networking activities and vital con-tent will leave you better connected, better informed, and with a smile on

your face!

Bank25%

Developer23%Fund

14%

Government13%

Advisory7%

Other*18%

Page 4: 13-14 November 2019 The Mayfair Hotel, Coconut Grove ... · Renewable energy as a share of total generation has risen to over 20%, and a record-breaking corporate PPA agreement was

Don’t just take our word for it:

“Proximo’s conference and its surrounding events are a pleasant and thought-provoking way to exchange within the infrastructure industry”.

Aurelien Roelens; Investment Director, Cube Infrastructure Managers

“Proximo puts on a modern, state of the art approach to industry conferences. Great speakers, attention grabbing panel formats, and an engaged audience – they’ve reinvented a better way to host industry events”

Paul J. Bradley; Chief Financial Officer, Northland Power Inc.

“Proximo definitely serves as one of the most insightful, useful - as well as enter-taining - conferences in the project finance world”

Akihiko Sato; Economic Research Office, Corporate Planning Division, MUFG

“Informative, Interactive and Inspiring conference - a great format entering the Project Finance market.”

Jens Heil, Head of European Project Finance, LBBW

“Excellent content. A very engaging and proper debate”.

Anna Ferguson-Rhodes, Structured Finance Manager, Shell

“Fantastic outcome, our clients were very happy about the event and to hear/see something different”

Benoît Felix, Global Head of Structured Finance, Santander

Page 5: 13-14 November 2019 The Mayfair Hotel, Coconut Grove ... · Renewable energy as a share of total generation has risen to over 20%, and a record-breaking corporate PPA agreement was

Industry Leading Contributors

John GreenwoodManaging Director

- Project, Infrastructure & Principal FinanceGoldman Sachs

Carlos BarreraCEO

Atlas Renewable Energy

Robert KleinHead of Latin

AmericaVoltalia

Luis FernandoPerdigon

Managing Director,Head of ProjectFinance Latin

AmericaSumitomo Mitsui

Banking Corporation (SMBC)

Lili Dominguez Ortiz

Member National Energy

Technical Committee IMEF - Mexican Institute

of Finance Executives

AlessandraMarinheiro,CEO - Latam

ContourGlobal

Andrew Ellenbogen Managing Director,

Power and Renewables

EIG Global Energy Partners

Luis Del ValleCEO

PerimetralOriental de Bogotá

S.A.S.

Alberto AlonzoPresidentArdinall

Investment Management, LP

Carlos GuinandChairmanSonnedix

Hernan BarrosVice Chairman

Petróleos del Perú S.A. - Petroperú

Emily PuenteRegional Manager, Mexico & Northern

LatAmFirst Solar

Chucri HjeilyPrincipal

I Squared Capital

Rafael ValdezMingramm

Managing Director for Latin America &

CaribbeanEnvision Energy

International

Gregory CardenasSenior Director,

Project & Structured Finance

Latin AmericaCanadian Solar

Susan WisialkoPartnerGlobal

InfrastructureFinance, LLC

Page 6: 13-14 November 2019 The Mayfair Hotel, Coconut Grove ... · Renewable energy as a share of total generation has risen to over 20%, and a record-breaking corporate PPA agreement was

Registration and morning coffee

Welcome remarks

Icebreaker drinks at Monty’s Raw Bar sponsored by Allianz Global Investors

Audience voting survey: Who’s in the room? Vote using Slido.

Government Soap Box: Peru’s Project Pipeline in 2020Speaker: Maria Susana Morales, Director, Project Execution, ProInversion - PeruInterviewer: Tom Nelthorpe, Contributing Editor, Proximo

Sponsor spotlight: Financing Latin America’s fast booming energy and infrastructure needsSpeakers: Carlos Barrera, CEO, Atlas Renewable EnergyCarlos Guinand, Chairman, SonnedixRobert Klein, CEO - Brazil, Head of Latin America, VoltaliaDennis Gray, CFO, Grana y Montero InfrastructureJose Antonio de la Lastra, CFO, Iridium-ACSModerator: Tom Nelthorpe, Contributing Editor, Proximo

Morning refreshments and networking10.45

9:45

9:15

9:00

8:00

7:00

Wednesday 13 November

Tuesday 12 November

Agenda

Page 7: 13-14 November 2019 The Mayfair Hotel, Coconut Grove ... · Renewable energy as a share of total generation has risen to over 20%, and a record-breaking corporate PPA agreement was

Deal or no Deal?: infrastructure and PPPA fun and interactive way to look at pricing and deal making. We present a panel of industry experts with a rapid-fire series of hypothetical deals questions.Would you do the deal? Vote through Slido!Speakers: John Greenwood, Managing Director - Project, Infra-structure & Principal Finance, Goldman SachsLuis Fernando Perdigon, Head of Project Finance Latin America, Sumitomo Mitsui Banking CorporationMiguel Pena Azpilicueta, Head of Project Finance Americas,BBVAModerator: Tom Nelthorpe, Contributing Editor, Proximo

Merchant vs contracted offtakeAs the Mexican government withdraws as a buyer of energy out-put, are project finance banks prepared to deploy the money and take the risk in the spot PPA market?

Speakers: Rene Maingot, CEO, Thermion EnergyJavier Contreras, Partner, Director - Corporate Finance, Ameris Capital

Plenary roomGameshows, audience polls, panel discussions, and keynote interviews in the main conference room.

Idea labsClosed interactive workshops where discussion leaders present issues and ideas to the room, and attendees must contribute.

Networking lunch12:45

11:45

LatAm’s energy transition: marrying sponsor demand with lender appetiteSpeaker: German Chullmir, CEO and Founder, Orel Energy Group

Tobey Collins, Managing Director, Structured Finance Americas,

Astris FinanceModerator: Tom Nelthorpe, Contributing Editor, Proximo

On the road again – Transport PPP LabSpeaker: Luis Del Valle, CEO, Perimetral Oriental de Bogotá S.A.S.Juan Francisco Toro, Director, Project Finance, Astris Finance

2:15

Shark Tank game-show: Will you buy my renewables project?Round two of our pricing and deal making game-shows. Devel-opers will pitch prospective financial sponsors on buying into a notional project. The investors will give their opinion on the project.How would you price the deal? Vote through Slido!Sharks: Paul David, Head of Americas Infrastructure Debt,Allianz Global Investors

Edmundo Toro, Head of Latin American Development, Macquarie CapitalPresenter: Oscar Batres, Director of Finance & Transactions - Mexico, Central America & Caribbean, AES CorporationGregory Cardenas, Senior Director , Project & Structured Finance – Latin America, Canadian SolarModerator: Tom Nelthorpe, Contributing Editor, Proximo

Infrastructure debt funds: Disrupting Latin American infrastructureNon-bank lenders, particularly big infrastructure debt provid-ers are making headway in Latin America, providing long-term debt that banks struggle to match. Yet, the challenge of plac-ing local-denominated paper to international investors remains, whether it is a public or private bond, or not.

Speakers: Susan Wisialko, Partner, Global InfrastructureFinance LLCNikola Simic, Director Infrastructure Debt, BlackRockEric Wittleder, Vice President, Brookfield Asset ManagementMalte Novack, Senior Vice President Infrastructure Debt, MEAG

2:45

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Afternoon refreshments

Plenary room Idea labs

What comes after the traditional PPA model?Keeping energy costs low for the consumer amid a booming population is a stated priority for governments across the region. Yet, developments in Mexico’s growing corporate PPA market has left a mismatch in lender and sponsor expectations of credit support. Every jurisdiction has different risks, but what model would incentivise more greenfield risk in an environment of fewer contracted offtake arrangements?

Speakers: Andrew Ellenbogen, Managing Director, Power and Renewables, EIG Global Energy PartnersEmily Puente, Regional Manager, Mexico & Northern LatAm, First SolarJaime Solaun, Head of Andean Region, Solar PackRene Maingot, CEO, Thermion EnergyAlessandra Marinheiro, CEO - Latin America, ContourGlobal

Moderator: Christopher Erckert, Partner, Mayer Brown

Infrastructure M&A: Who’s buying, where, and why?Speaker: Luis Arizaga, Founding Partner, EIRA CapitalEmilio Andrade, Director, Infrastructure, ArdianJose Martinez, Chief Investment Officer, Rimac Seguros - Peru

Close of day one followed by drinks reception

4:30

3:45

5:30

Page 9: 13-14 November 2019 The Mayfair Hotel, Coconut Grove ... · Renewable energy as a share of total generation has risen to over 20%, and a record-breaking corporate PPA agreement was

Welcome back and day one recap

Keynote presentation: Tackling the challenges in Mexico’s electricity sectorSpeaker: Lili Dominguez Ortiz, Member, National Energy Technical Committee, IMEF - Mexican Institute of Finance Executives

Keynote Panel: Project Bonds in Latin AmericaProject Bonds in Latin America, have taken off sharply in 2019 with US$730m issued in the region H1 2019, with big deals in trans-port sector including the US$400m issue for Corporacion Quiport in Ecuador and US$563m for the Lima Metro 2 expansion. Total issuance totalled $12bn in 2018: over one quarter of the global market.

Moderators: Michael Morcom, Director, Latin America Issuer Services, Citibank

Abraham Prada, Vice President, Infrastructure and Advisory, J.P. Morgan

Ahmed Maqsood, Vice President, Infrastructure Debt, Allianz Global Investors

Lawrence Cyrlin, Head of Infrastructure Finance Americas, Citibank

9:00

9:10

9:30

Morning refreshments and networking

Plenary room Idea labs

Oil and gas • Monetizing upstream exploration through ‘European style’ re-serve based lending: do we need more of it?• Should we expect more European (and indeed global) ECA ap-petite for LatAm oil and gas?• Or should investors be more willing to take on local currency risk to finance LNG, gas-to-power construction risk?• How much debt can NOCs take on safely given country ratings and sovereign risk trends?

Speakers: Alberto Alonzo, President, Ardinall Investment ManagementHernan Barros, Vice Chairman, Petróleos del Perú S.A. -Petroperú

Moderator: Tom Nelthorpe, Contributing Editor, Proximo

Talking shop: Borrowers, banks, and basis points

A closed session solely for borrowers and investors to discuss their experiences candidly and issues with the various funding sources available – ECAs, banks, DFIs and institutional lenders – for greenfield renewables projects.

Although Chatham House rules apply, unattributed points raised will later be circulated to lenders for a response post the event, and the responses used for an article in Proximo which will be forwarded to participants on publication.

Speaker: Vinicius Nishioka, Deputy Financial Director, State Grid Brazil Holding

10:15

10:45

Thursday 14 November

Page 10: 13-14 November 2019 The Mayfair Hotel, Coconut Grove ... · Renewable energy as a share of total generation has risen to over 20%, and a record-breaking corporate PPA agreement was

Is there an opportunity for greater ECA backing, cred-it and political risk mitigation for Latin American energy and infrastructure projects?Should exporters be applying more pressure on their ECAs to back EPC contractors and sponsors who identify projects with good credit?

Speaker: Alban d’Herbes, Area Manager - Latin America, BPI FranceBenjamin Roberts, Credit Insurance Broker, Meridian Finance Group

Moderator: Tom Nelthorpe, Contributing Editor, Proximo

Digital infrastructureDebate reigns over ideal financing structures to keep pace with the demand for more digital infrastructure. With the US and Eu-rope leading the way in fibre, cell phone towers and data cen-tres, where does Latam stand?

Speaker: Steven Sonnenstein, Managing Director, Head of M&A, Digital Bridge

11:15

Page 11: 13-14 November 2019 The Mayfair Hotel, Coconut Grove ... · Renewable energy as a share of total generation has risen to over 20%, and a record-breaking corporate PPA agreement was

Meeting renewables targets and auction expectations: country breakout roundtablesEach table has a single host, who will lead the debate, before presenting their case to the room at the conclusion of thesession. Each table focuses on project bankability, offtake structure, and renewable asset supply.

Brazil - Solar energy production in Brazil totaled over 500MW in 2018. Over 100GW capacity of renewables projects are registered for the country’s October 2019 tenders, with awarded PPA agreements to become effective in 2025. Will this new capacity win favour with international funds, DFIs and commercial banks?Host: Rodrigo Pedroso, CEO, Pacto Energia

Caribbean - Diverse appetite for foreign direct investment and sovereign risk means that investor appetite for renewables varies widely. Hydro continues to dominate, with wind and solar only beginning to approach utility scale in most counties. Where do investors see the opportunity?Host: Ben Moody, President and CEO, Pan American Finance

Chile - Having practically written the book on renewables in Latin America, Chile’s renewables market is well-developed with low energy prices. Renewable energy as a share of total generation has risen to over 20%, and a record-breaking corporate PPA agreement was signed in 2019. In what is perhaps LatAm’s most competitive jurisdictions for prospective renewables sponsors? What opportunities lie ahead, and should Chile be seen as a bellwether for LatAm’s energy future?

Colombia - The government aims to increase renewable-sourced energy in Colombia from its current 2% to 9% over the next four years. However, a poorly received renewables auction in 2018 raised bankability and antitrust fears over Colom-bia’s promising renewables programme. What assurances does the private sector require to get over these fears?Host: Tom Nelthorpe, Contributing Editor, Proximo

Mexico - President AMLO’s energy policy is well-known to be causing project financiers headaches. With AMLO’s stated aims being self-sufficiency through new oil refineries, and a reduction in the purchasing of energy generation, what will the pipe-line of renewables assets look like in 2020?

Close of conference

11:45

12:45

Page 12: 13-14 November 2019 The Mayfair Hotel, Coconut Grove ... · Renewable energy as a share of total generation has risen to over 20%, and a record-breaking corporate PPA agreement was

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