Professional Documents
Culture Documents
AGENDA
TARGETS
IPPs Phase
Deregulation
Eliminated
Monopoly
Rights
Weakened
Encouraged
creation of
small power
plants using
nontraditional
fuels
Merchant
Contracts Phase
NEPA allowed
IPPs to sell at
wholesale
competitive
prices
Cogeneration
requirement
removed
allowing IPPs
to build larger
plants
Project Finance
Corporate Finance/ Balance Sheet Financing
Revolving Credit facility
1) PROJECT FINANCING
Advantages
Disadvantages
Non-recourse debt
repayment from
project cash flow
Security over
project assets
Lender places
emphasis on
stand alone
project
CORPORATE FINANCE
company.
(non-recourse debt)
Calpine
Financial Calculation
Lower
fee structure
Post-Hybrid Strategy
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