FINANCING & DOCUMENTING POWER PROJECTS/ POWER SECTOR LITIGATION AND DEBT RECOVERIES

Thursday April 28, 2016. Radisson Blu, Ozumba Mbadiwe Street, Victoria Island, Lagos

Time: 8.00 am

FINANCING & DOCUMENTING POWER PROJECTS/ POWER SECTOR LITIGATION AND DEBT RECOVERIES

To enable Nigeria add an additional 5,000 MV capacity, the Power Sector requires about $10 billion within the next few years. Similarly, the transmission grid requires an annual investment of about $1.5 billion over the next five years to ensure grid reliability and stability. It is therefore necessary for financiers, in house lawyers, independent legal practitioners, project managers and investment managers to be prepared to meet the challenges and opportunities presented by the facts stated above. In addition there is a need to understand how power sector disputes are resolved. In view of the foregoing, we are delighted to present to you this one day course which will afford you the opportunity to master the use of Project Finance and other options for financing large scale Power Projects and how to navigate Power Sector litigation and debt recoveries.

KEY LEARNING POINTS

• Evaluate the various debt financing options for a Project, both on a Project Finance basis as well as other corporate finance options.
• Identify, evaluate & allocate key risks in Project Finance.
• Build your knowledge of Power Sector Litigation and Debt recovery through a review of selected cases.

WHO MUST ATTEND

• Electric Generation and Distribution companies
• Banks and Financial Institutions
• Governments and Power Sector Regulators
• Large power users
• Independent power producers/Market operators
• Lawyers and Power Sector Consultants

TOPICS

• Legal & Regulatory Background
  • Overview of the Electric Power Sector Reform Act 2005
  • Other Legislation, Rules & Regulations
  • What to expect after privatisation: the stages from transition to the Long Term Market
  • Host Communities and Land issues in the Power Sector
    •  Legal and Regulatory Frameworks for the Host Communities
    •  Land Revocation and Compulsory Purchase of Land for Electricity Purposes
  • Power Sector Litigation
    • Jurisdictional issues and the Power sector
    • Pleadings and other processes/Case Reviews
  • Power Sector Debt Recovery and Insolvency
    • Debt Recoveries/Garnishee proceedings
    • Customer debt liabilities/recoveries
    • Insolvencies: Step in Rights
    • Execution of judgements
  • Power Purchase Agreements
    • Key features of different Power sales agreements/Allocation of Risks in PPAs
  • Financing & Documenting Power Projects
    • Funding needs across the Power Sector Value Chain
    • Acquisition Finance/ CAPEX Finance for the DisCos and the Inherent Risks
  • Sources of Finance
    • Debt Finance and Vendor Financing
    • Equity Finance
    • The new Tariff Structure
  • Funding Risks & Mitigation/Security
    • Collateral for CAPEX Funding
    • Technical Consultant/ Performance Guarantee
    • Mitigating Currency Risks/ Currency Swaps
  • Key Project Agreements
    • Shareholders Agreement/EPC Contract
    • Loan Agreement/Security Documents

FACULTY:

DR. YEMI OKE

Dr. Yemi Oke had his LL.M and Ph.D. degrees from Osgoode Hall Law School, York University, Canada. He specializes in Electricity Law; Oil & Gas; Minerals & Mining; International Environmental Law, and Law of International Institutions. A multi Best Performance Award Winner at the University of Ilorin, he was awarded the prestigious York University Scholarship for Academic Distinctions, the Peter W. Hogg Award for exceptional students with demonstrable leadership potentials and Willard Z. Estey Fellowship for Research and Teaching Excellence at Osgoode Hall Law School, York University for his LL.M and PhD respectively. Dr. Oke is the author of a pioneering book on Nigeria’s power sector, titled “Nigerian Electricity Law and Regulation”.

AYODELE ONI

Ayodele Oni, a Shell Scholar is a Senior Associate in the energy practise group of Banwo&Ighodalo. He holds an LLM in Energy Law from the University of Calgary Canada and has extensive experience in energy (oil, gas and power) law and policy advising on the whole electric power supply value chain. He has acted for diverse clients in the energy sector and has contributed articles in various international energy journals including the OGEL and the Energy Regulations and Markets Review. He recently authored a book on the Nigerian Electric Power Sector. During the power sector privatisation exercise he advised a number of consortia 2 of which emerged preferred bidders.

ABOUT US

The Training arm of Cowrie Partners provides industry relevant practical learning through carefully designed courses delivered by expert speakers. Cowrie Partners is a firm of commercial lawyers focused on responsible and ethical finance and investments. Our areas of practice cover financial institutions, power projects, oil & gas, real estate and infrastructure finance. We are committed to delivering interactive and sector specific training solutions that provide learning outcomes directly transferable to the business challenges faced by our delegates.