Project preliminary development support and transaction structuring for a proposed 50 MW IPP wind farm project in Tunisia. Project is initiated by the Axiom team under the renewable energy auto-production law issued by the Tunisian government in 2009. Project was put on hold after the revolution and is pending under the new RE legal framework in Tunisia
Tunisia
Wind site selection, transaction and project structuring, finance planning, and early project development of a proposed 400 MW multi-phased wind power plant in Tunisia for the export of electricity to European utilities via an undersea grid interconnection to Italy. First phase is set for 100 MW for domestic use by STEG following a Protocole d’Accord between the Tunisian Government and Axiom.
Tunisia
Co-developer with Enertech and Distributed Generation Systems, Inc. and Nordwind SAC, a local Peruvian company, responsible for developing a 230 MW wind farm in northern Peru.
Peru
In concert with Hunton & Williams, provided advice on development of a legal, regulatory, and commercial framework for wind power in Egypt, including an assessment of fiscal stimulus incentives used elsewhere to encourage private sector investments in renewable energy project opportunities.
Cairo, Egypt
Served as a co-developer along with SpinBlade Energy LLC and Dipol for a 65 MW wind farm on the Baltic Coast of Poland. Provided project development support, transaction structuring, and financial advisory services. Arranged 40 percent grant financing for project implementation from European Union structural funds, and assisted in selling the project to a German consortium
Northern Poland
Lead developer for a 30 MW wind farm in concert with a major wind turbine manufacturer and several Indian investors utilizing an innovative net billing mechanism.
Northwestern Sri Lanka
Provided project planning, vendor identification, and procurement management support services for the development of a 1.5 MW wind farm being planned in concert with diesel engines in hybrid configuration at a fish processing plant in the northern Maldives.
Maldives
Presently serve as the head of a consortium of three companies providing technical support services and financial structuring assistance to the Renewable Resources and Energy Efficiency Fund of Armenia funded by the World Bank and Global Environmental Facility.
Armenia
Served as the overall project manager in the field and provided project management, technical assessment, cost estimating, and financial advisory services to Hunton & Williams as part of a USAID-funded privatization strategy and power sector planning team responsible for developing viable options for consideration by the Government of Romania for privatizing all non-nuclear and non-strategic power generation assets in the country.
Romania
Conduced a due diligence review a proposed expansion of the Olkaria Geothermal Field in the Rift Valley of Kenya including required transmission line upgrades for the U.S. Trade and Development Agency. Prepared terms of reference and a suggested budget and schedule for a follow on feasibility study.
Kenya
Served as the financial and technical advisor to an interagency technical assistance team charged with identifying and validating promising project opportunities in the energy sector of Aceh Province. The most promising projects reviewed were three geothermal project sites in northern Sumatra.
Indonesia
Served as the overall team leader of a joint U.S./U.K. geothermal resources development and private power finance mission including participation by the U.K. investment banking firm of Morgan Grenfell.
Kenya
Served as the head of a U.S. Department of Energy mission to Kenya to evaluate promising geothermal project opportunities as well as provide technical assistance regarding U.S. technology advances in the fields of geothermal resources development and horizontal drilling techniques. A final report of the mission findings and recommendations was published by the National Geothermal Association of the United States.
Kenya
Presently serve as the head of a privatization support team to the Minister of Economy and Finance for the sale of KEK’s distribution and power generation assets under contract to Deloitte Consulting.
Kosovo
Presently serve as the independent privatization advisor and power sector planning specialist to the Minister of Economy, Trade, and Energy for the sale of the Albanian electricity distribution network.
Albania
Served as a financial advisor and privatization transaction specialist to a WGI-led team for the acquisition of the Rovinari Thermal Power Plant and associated lignite mines in the Targu-Jui region of Romania. Also served as a key member of the due diligence review team.
Romania
Served as the senior financial advisor and private sector specialist on a nine-person interdisciplinary team led by Nexant responsible for conducting a diagnostic needs assessment of the country’s energy sector for the U.S. Agency for International Development, including electricity, oil, gas, energy efficiency, renewable energy, and rural development, as well as evaluation of infrastructure investment needs over the near, mid, and longer term, and review of the institutional constraints and impediments to private sector involvement in the power sector. In addition, evaluated alternative private sector participation options, and recommended specific solutions over various time horizons for grid-connected urban and provincial towns, as well as peri-urban and off-grid areas.
Luanda, Angola
Served as a senior management consultant and financial advisor to the Asian Development Bank tasked with advising on ways to overcome constraints to private investment in the Cambodian power sector, determining the most appropriate private sector participation model, and recommending a financing vehicle for ADB assistance for the rehabilitation and expansion of provincial power supplies in Cambodia.
Phnom Penh, Cambodia
Provided energy policy planning and analysis to the South Asia Regional Energy Coalition under long-term contract to the U.S. Chamber of Commerce and the U.S. Agency for International Development. Also responsible for preparing a major regional energy policy framework paper, as well as conducting workshops and seminars on timely regional energy issues and projects. In addition, developed a two-pronged strategy for facilitating greater regional energy cooperation and development, which is presently in the process of being implemented by all six member nations.
South Asia
Reviewed least-cost expansion plans and conduced due diligence reviews of planned transmission line projects in the Kenya power sector for the U.S. Trade and Development Agency. Prepared terms of reference and suggested budgets and schedules for performing follow on feasibility studies for four promising transmission-related project opportunities.
Nairobi, Kenya
Served as the team leader of a U.S. Government-sponsored Definitional Mission to Poland to evaluate promising project opportunities in the Polish energy sector, with a focus on electric generating facilities, combined heat and power plants, industrial cogeneration facilities, and local distribution companies.
Warsaw, Poland
Evaluated least-cost expansion plans and reviewed promising project opportunities in the electricity sectors of both Macedonia and Bulgaria, and developed terms of reference and budgets for the two most promising project opportunities for possible funding assistance by TDA. In particular, performed a due diligence review of the proposed Trans Balkan Transmission Inter-Connection Project intended to link together the electricity transmission systems of Macedonia, Bulgaria, and Albania in an effort to create a Southeastern European Inter-Connected Power Pool, as well as a 45 MW hydropower project in Macedonia for ESM, the state-owned electric utility.
Skopje, Macedonia and Sofia, Bulgaria
Served as the international financial advisor to both Eskom Enterprises and the Trade and Investment Bank of Zimbabwe for a proposed 700-kilometer electric transmission line and fiber optic telecommunications landline link between Tanzania and Zambia. Responsible for developing innovative transaction structures and financing approaches for this project, as well as recruiting potential sources of both debt and equity especially from Chinese sources.
Project Between Tanzania and Zambia
Provided market assessment and strategic business planning assistance to both CAT Power Ventures and Elf for a planned joint venture project company to develop inside-the-fence power and cogeneration facilities in the mining, cement, oil, and gas sectors of several targeted countries in sub-Saharan Africa.
sub-Saharan Africa
Conceived and developed the concept of taking over a planned African Development Bank public sector transmission project and developing it on a build-own-operate basis with private sector capital. Prepared the project concept paper, including financial projections for several scenarios, as well as arranged preliminary commitments from both IFC and World Bank.
Project Between Benin and Nigeria on a Privatized Basis. West Africa
Overall project manager responsible for undertaking an international market analysis and preparing an implementation plan for the creation of an unregulated international services company on behalf of Manitoba Hydro, which is Canada’s fourth largest provincial electric utility.
Canada
Due diligence review and fatal flaw analysis of a 20 MW private power diesel station burning heavy fuel oil and associated water treatment and bottling plant. Responsible for conducting a technical and economic due diligence review of this first-of-a-kind independent private power project in Mexico, as well as providing project development support, financial structuring assistance, and an assessment of the local bottled water market in an effort to boost returns while still maintaining competitive electricity tariffs.
Cozumel, Mexico
Served as the overall project manager responsible for providing quick response support to CMS Energy throughout its legal defense of the negotiated power purchase agreement, electricity tariff, and adjustment mechanism for this project. As a result of the team’s timely analysis and comparative pricing information, the local Indian judge summarily dismissed the case against CMS
Neyveli, India
Responsible for preparing a detailed project implementation plan and schedule for developing one of the largest clean coal projects ever contemplated in China. In addition, participated in the identification and recruitment of potential lenders and equity partners, prepared a preliminary financing plan designed to achieve project implementation on a fast-track basis, and created an acceptable exit strategy for investors.
Republic of China
Brought a project opportunity to a major U.S. utility subsidiary, and then served as the overall project manager of an interdisciplinary technical team created to support the client in evaluating whether to invest in a 315 MW coal-fired project outside Manila. Key issues and risks assessed included transmission pricing and interconnection problems.
Luzon, Philippines
Conducted a confidential review for the President of MERELCO of the IPP project selection process pursued by MERELCO over the previous two years which resulted in the selection of four BOO projects. In addition, conducted an in-depth assessment of the overall power purchase agreement negotiating process, including a quantitative determination of the reasonableness of electricity prices agreed upon. At the conclusion of this assignment, identified and recruited a potential replacement technical partner and major equity investor for one of these projects which was in a position of imminent default.
Manila, Philippines
Performed financial and economic due diligence review of a 2 x 600 MW super critical boiler pulverized coal plant, and assisted in drafting the final report for the ADB. Conducted an in-depth review of Anhui Electric Power Company's (AEPC) accounting procedures and commercial practices. Also evaluated current electricity pricing policies in Anhui Province, and calculated a break-even tariff designed to sustain thirteen projects contemplated by AEPC over the next ten years. This was one of the largest loans ever considered and approved by ADB for the energy sector of China.
Anhui Province, People’s Republic of China
Development of three diesel power plants totaling 33 MW on a privatized basis. Served as overall project manager and principal financial advisor for these projects. Responsible for providing project development support and financial structuring assistance for the joint venture project company led by Alban Engine Power Systems. Developed a preliminary financing plan and overall risk mitigation strategy.
Maneah, Mamou, and Faranah, Republic of Guinea
Managed a technical and economic feasibility study, including environmental assessment to European Community standards, on behalf of the European Bank for Reconstruction and Development (EBRD) and the Belarus Ministry of Power Engineering for the planned Orsha Combined Cycle Power Plant.
Belarus
Responsible for serving as project manager and financial structuring specialist for a USAID-funded feasibility study, including development of a preliminary financing plan for this proposed 30 MW cogeneration facility. Met with commercial banks and international financial institutions to develop appropriate funding structures, prepared preliminary financing schemes for preceding either on full sovereign debt or privatized basis, and wrote the final report for USAID and GRIRO
Bucharest, Romania
Technical Team Leader and overall Project Manager for a detailed assessment of the condition of the Armenian power sector. Also responsible for the preparation of all required documentation for a subsequent sector loan from World Bank, as well as grant funding support from the U.S. Agency for International Development.
Yerevan, Armenia
Consultant to the Private Power Advisor assigned to the PLN responsible for preparing draft power purchase and implementation agreements for use in negotiations with IPP developers.
Jakarta, Indonesia
Served as the lead consultant and financial advisor on the first EBRD investment mission to Poland. Responsible for evaluating proposed power plant modernization and environmental retrofit projects, proposing policy criteria for ranking flue gas de-sulfurization retrofit opportunities, and developing innovative project financing concepts for proposed power plant modernization programs and environmental retrofits of coal and lignite-fired power plants. Also responsible for writing the official aide memoir for the mission, as well as preparing a final report setting forth proposed limited recourse financing approaches for environmental protection and rehabilitation projects in the Polish electricity sector.
Warsaw, Poland
Served as the overall project manager for a 3 x 30 MW combustion turbine power plant and associated 120-mile grid interconnection in Oman on a BOT basis. Developed and negotiated both the power purchase and implementation agreements with the top-ranked developer on behalf of the Ministry of Electricity and Water of the Sultanate of Oman. This project was the first BOT project to achieve financial close in the Middle East.
Muscat, Oman
Served as the project manager and technical team leader responsible for performing an assessment of the oil and gas potential the offshore Saltpond Field, as well as preparing the pre-feasibility report for a 30 MW barge-mounted combustion turbine power plant to be financed on a privatized basis.
Ghana
For U.S. Agency for International Development (USAID) and Winrock International, served as project development specialist for a USAID-funded technical assistance effort to evaluate the feasibility of introducing bagasse-fired cogeneration capacity into the Swazi sugar industry on a privatized basis to supplant electricity imports from South Africa
Mbabane, Swaziland
Served as project development specialist and private power advisor to a British IPP team interested in developing a major coal-fired power plant on a build-own-operate or build-own-transfer basis. The proposed site for the plant was the mine-mouth of a new coalmine to be developed by RTZ at Sengwe.
Harare, Zimbabwe
Served as overall project manager responsible for conducting a technical and economic pre-feasibility assessment of solar electric water pumping applications at remote off-grid sites throughout Kenya. Also evaluated and ranked potential project sites throughout Kenya. Finally, responsible for implementing industry-wide follow-up activities designed to inform U.S. solar firms regarding these potential water project opportunities.
. Nairobi, Kenya
Served as overall project manager and technical team leader for a USTDA Definitional Mission to Venezuela tasked with evaluating the potential for utilizing U.S. equipment and related technical services for the modernization, upgrade, and possible repowering of ELECAR’s and ENELVEN’s aging fossil-fired generating capacity. Also responsible for drafting the final report to USTDA.
Caracas, Venezuela
Served as a technical adviser and project development specialist for a proposed 20 MW refuse derived fuel waste-to-energy project with associated 10 million gallon per day desalination facility to be built on a privatized basis. Also responsible for writing the project development concept paper on behalf of the project company
Karachi, Pakistan
As part of a joint U.S. AID/World Bank mission, developed the concept for and designed a revolving fund intended to facilitate the introduction of privately developed mini-hydro projects and associated water supply systems
Yerevan, Armenia
Served as a project finance specialist and senior financial advisor to Trade and Investment Bank, Limited, which is Zimbabwe’s largest privately owned investment bank. Responsible for providing financial structuring assistance and infrastructure advisory services for the following planned projects: a $106 million fixed wireless overlay network telecommunications project to be financed on a build-operate-transfer basis, selected bulk water supply projects, and a sugar mill and associated cogeneration plant.
Harare, Zimbabwe
Provided institutional development and financial advisory services to the largest government-sponsored financial institution in the Philippines. Undertook preliminary project screening and evaluation of more than 30 proposed BOT projects in the local government project pipeline, including bulk water supply systems, water and waste water treatment facilities, desalination plants, integrated hydro power and water supply projects, sanitary landfills, toll bridges, and public markets. Also responsible for validating purposed commercial terms and conditions for a $50-$100 million ADB-sponsored on-lending facility, and assisting private sector sponsors in developing suitable transaction structures and preliminary financing schemes.
Manila, Philippines
Technical assistance project to assist the State Economic and Trade Commission to evaluate at least six energy conservation and environmental retrofit sub-projects in the chemical, metals, and nonferrous metals industries from an economic, financial, and environmental perspective. Was responsible for overseeing financial appraisals of six sub-projects, and assessing the ability of these state-owned enterprises to repay their loans. Also responsible for developing the overall financing mechanism and structure for transferring a $200 million loan from the Asian Development Bank to appropriate on-lending authorities in China, as well as developing a recommended project appraisal process for use by these financial intermediaries. Finally, evaluated the overall financial soundness of all state-owned banks that had been designated by SETC to participate in this on-lending facility, and developed loan conditionality requirements for use in administering loans from this facility.
Beijing, People’s Republic of China
Task order contract funded by the U.S. Agency for International Development, developed detailed work plans for mobilizing technical and engineering teams throughout Russia on short notice, recruited specialized personnel for hardship deployments, and co-authored the first NIS Task Force report to be formally delivered to the Russian Ministry of Fuel and Energy and RAO ESS Rossi regarding principles and incentives for promoting private investments in the Russian power sector.
Russia
For Enertech International, Inc. in Peru, conducted statistical analyses of 18 months of wind data from the El Cerro Chocan Project site, prepared a wind resource assessment report, established coordinates for the optimal location of turbine towers on the site, prepared site layout maps, and participated in the selection process for a turbine vendor.
Peru
Served as a financial advisor to GEF to validate the overall concept and provide financial structuring assistance for a proposed mezzanine fund designed to assist municipal governments in financing required equity contributions for basic infrastructure projects being developed under various public private partnership schemes. Also evaluated existing funding sources available for such projects, and assessed the creditworthiness of various types of municipal governments throughout Poland
Washington, D.C
For a project in West Virginia, Edward F. McCarthy & Associates conducted a wind resource assessment program and prepared an assessment report. The project area was at an elevation of 4,000 feet and consisted of both treed and open ridgelines. The scope of work over a multiyear period included an initial site survey, the installation of three NRG Systems Tall Towers, data collection and analysis, wind shear assessment, the preparation of theoretical energy output projections for a number of state-of-the-art turbines, development of a wind turbine siting plan, and preparation of a wind resource assessment report for submission to investors
West Virginia, USA
For a project in Pennsylvania, a wind resource assessment program was conducted. The project area was a large, relatively flat, treed ridgeline. The scope of work over a multiyear period included an initial site survey and selection of possible monitoring locations, the installation of a 50-meter NRG Systems Tall Towers, data collection and analysis, wind shear assessment, the preparation of theoretical energy output projections for a number of state-of-the-art turbines, and development of a wind turbine siting plan. We also assisted the client with the analysis of SODAR system data collected on-site. The SODAR study was performed to confirm the wind shear analysis and projection of hub height wind speeds.
Pennsylvania, USA
For a project proposed in Vermont, Edward F. McCarthy & Associates conducted a wind resource assessment program. The project area was a large, relatively flat, treed ridgeline. The scope of work over a multiyear period included an initial site survey and selection of possible monitoring locations, the installation of a 50-meter NRG Systems Tall Towers, data collection and analysis, wind shear assessment, the preparation of theoretical energy output projections for a number of state-of-the-art turbines, and development of a wind turbine siting plan.
Vermont, USA
For a project proposed in Maine, Edward F. McCarthy & Associates provided due-diligence services to the Investor’s Project Engineer. These services included an independent analysis of the meteorological data collected at three on-site locations using NRG Systems TallTowers, an independent evaluation of wind shear (for projection of hub height wind speeds), turbulent and wintertime icing conditions, and a critique of the proposed turbine siting array. The final report included a revised theoretical energy projection for the project
Maine, USA
For a distributed generation project in southern Minnesota, Edward F. McCarthy & Associates provided due-diligence services to the Investor’s Project Engineer. These services included obtaining meteorological data from four sites operated by the State of Minnesota, WRAP Program, processing these multi-year data sets, adjusting the data to the proposed sites for the distributed generation project, and prepared a wind resource assessment report that included a theoretical estimate of long-term energy output.
Minnesota, USA
For a major Southern California water district, Edward F. McCarthy & Associates provided a wind resource assessment of their large landholdings. Available wind data and large scale wind maps were used to make preliminary estimates of the 50-meter and 80-meter wind speeds across their properties, prepare theoretical wind turbine capacity factors, and estimate the installed capacity for each area.
California, USA
For a large wind power project proposed in northwestern Iowa, Edward F. McCarthy & Associates provided the investor with an independent review of the wind resource assessment report and turbine plot plan. This review included a critical review of the wind data collected on-site, the wind shear estimates, and the long-term adjustment factors for the annual wind speeds at hub height.
Iowa, USA
For an operational project in Minnesota, Edward F. McCarthy & Associates provided the investor and the owner’s engineer with an independent assessment of the performance of the project during the first complete year of operation after start-up. The assessment included a review of the observed power curve of the turbine, the individual performance of turbines versus theoretical performance based on on-site meteorological data, and the normalcy of the wind year
Minnesota, USA
