Advisory

The CURO team has over a decade of experience working together to execute projects from development, analysis, contract negotiation, financing, commercial agreements, construction and operations management.  We assist developers, investors and banks to tie all project aspects together to achieving financial closing and ultimately Commercial Operations.  In most cases, we are involved long term with projects, although we can also assist with specific work streams to complete projects successfully including:

 

  1. Project Contracts
  • CURO has extensive experience with negotiating and executing construction and operations agreements, in particular:
  • Wind Turbine & Installation (SIA)
  • Balance of Plant (BoP)
  • Operations & Maintenance (O&M)

 

  1. Corporate PPAs
  • Extensive experience in traditional and renewable PPA’s, across numerous countries and jurisdictions
  • We can provide sell and buy side advisory on commercial development of PPA structures and terms, dovetailing with financing needs.
  • Working closely with large corporate consumers, developers and energy traders we have an intimate knowledge of the commercial drivers, technical requirements and evolving market parameters.
  • We can assist large consumers develop a progressive road map to economically transition to energy sustainability.
  • We can help developers secure long term power purchasers to underwrite their project financing and/or exit.

 

  1. Financing
    • Securing Senior and/or Junior Debt
      • Detailed Information Memorandum and Project Finance model
      • Detailed debt term sheet based on LMA terms
      • Mandate letter appointing the banks
    • Due Diligence (in accordance with IFC Guidelines for Wind / EBRD E&S / Equator Principles)
      • Select and appoint lender-approved legal, technical and insurance advisors
      • DD typically required prior to lenders approaching credit committees
      • ESAP / ESMP / ESMS
    • Financing Approval
      • Credit committee approval
      • Draft and negotiate finance & security documents
      • Satisfy conditions precedent & achieve Financial Close
    • Construction Funding (Equity funded first)
      • Lender-approved utilisations for funding construction costs
      • ESAP and construction monitoring
      • COD and margin decrease

 

  1. Environmental and social performance management

The CURO team is experienced in working with projects designed to meet the following environmental requirements:

  • Equator Principles
  • EBRD Social and Environmental Policy
  • IFC Performance Standards 

There is ever-increasing focus on managing E&S aspects of energy projects and CURO can assist Owners/Investors in managing the key E&S issues including the following:

  • Construction Phase:
    • Impact on birds, bats and other species
    • Worker on-site training and safety, and compliance with labour laws
    • Liaison with the local community ahead of key events with potential for disturbance
  • Operations Phase:
    • Ongoing ecology impact monitoring and optimisation of any mitigation measures
    • Ongoing community liaison and management of a grievance mechanism
  • Reporting and Auditing:
    • Ongoing compliance with a Lender’s ESAP and grievance reporting
    • Six-monthly Lender audit reports
    • Annual E&S reports for EBRD
    • Community liaison officer