Ronde tafel – 6 oktober 2010 - Eversheds Sutherland · 15.30 Presentatie Auke de Boer, ING Groen...

Financiering van duurzame energie(projecten)Financiering van duurzame energie(projecten)

Ronde tafel – 6 oktober 2010

ProgrammagDagvoorzitter: Michel Chatelin, partner Eversheds Faasen

15.00 Ontvangst15.20 Welkom door Miriam van Ee, Eversheds Faasen

15.30 Presentatie Auke de Boer, ING Groen en microfinancieringen

16.00 Presentatie Jürgen Habichler, Mountain Cleantech AG

16.30 Presentatie Frank Bakker, Honeywell Building Solutions

17.00 Presentatie Michael Urlings, Building Brains17.30 Borrel

D i j tDuurzame energieprojecten zijn financierbaar door jbancaire project- of balansfinancieringbalansfinanciering

Rotterdam – oktober 2010Auke de BoerManager Groen Financieringen

Overwegingen investeerdersOverwegingen investeerders • Doelstelling: Milieu of bedrijfsmatig

• Financieel:- BalansmanagementBalansmanagement- Bedrijfseconomisch rendement- Subsidieregelingen (MEP, SDE, SDE+)- Fiscaliteit- Fiscaliteit

• Samenwerkingsvormen- intern- extern

• Risicomanagement

Structurering financieringStructurering financiering

EigenEigen Vermogen Projecteigenaren

Totale investering

Vreemd vermogen:

Obli ti h dg

Vreemd

Obligatiehouders

Banken

Etcvermogen Etc.

Groen vreemd vermogen

Financieringsmogelijkheden (1)Financieringsmogelijkheden (1)Algemeen

• Uitgangspunt voor bepaling financierbaarheid is een robuuste business case met herkenbare kasstromen:

- Samenstelling instroom: bij duurzame energie projecten afkomstig van subsidies en markt (afnemers)van subsidies en markt (afnemers)

- Omvang: voldoende om rente en aflossing te betalen (DSCR, ICR)

- Risico-inschatting: voldoende kasstroom of terugvallen op dekking.

• Fase ontwikkeling bepaalt soort financiering

Financieringsmogelijkheden (2)Financieringsmogelijkheden (2)Projectfinanciering• Kenmerken

- Projectrisico bij financiële partijen. - Veelal in syndicaatvorm, 1 bank werkt transactie uit

M t t i- Management case vs. worst case scenario.- Risicomanagement

• Issues :- Techniek: nieuw of bewezen- Betrouwbaarheid partijen (sponsors)- Juridische basis w.o. contracten (bijv. levering warmte)

• Documentatie:- Regels zijn strak. Doel is tijdig in te kunnen grijpen. - Omvangrijk (kosten!)g j ( )

• Voordeel voor sponsors: - Geen risico op project- Geen druk op balans van sponsor (afhankelijk documentatie)

R t l t ll di k i j t- Rentelast volledig voor rekening project.

Financieringsmogelijkheden (3)Financieringsmogelijkheden (3)Balansfinanciering• Balans financiering:

- Risico blijft bij projecteigenarenRisico afweging bij bank op project is marginaal Project lift mee op balans- Risico afweging bij bank op project is marginaal. Project lift mee op balans

- Bepalingen t.a.v. investeringen zijn veelal onderdeel van documentatie RCF,MTNLagere financieringslasten (Utilities gemeentes wbc’s WSW!)- Lagere financieringslasten (Utilities, gemeentes, wbc s –WSW!)

• Projecteigenaren maken zelfstandig investeringskeuze op basis van j g g g pmanagement case, risicomanagement.

• Keuze tussen beide financieringsvormen afhankelijk van in- en externe g jfactoren

Bepaling Eigen VermogenBepaling Eigen Vermogen

• Bij balansfinanciering is hoogte van eigen vermogen afhankelijk• Bij balansfinanciering is hoogte van eigen vermogen afhankelijk van:- Interne richtlijnen- Afspraken in leningdocumentatiep g- Externe regelgeving

• Bij projectfinanciering is de hoogte van het eigen vermogeneen afgeleide van de risico-inschatting: structuur van detransactie, rating sponsoren etc. Doorgaans beweegt zich de range EV/VV tussen 15/85 en 30/70.g

• Effect op rendement

Groenfinanciering – hoe werkt het?Groene

projecten

gVoordeligefinanciering p jfinancieringgem. 1% lager Economische

haalbaarheidGroenverklaring

OverheidGroenbanken toezicht

(laag) rendement Belasting oordeel

B

Sparen en beleggenMax 55 000

Belastingvoordeel2,5%

BurgerMax 55.000

Mountain Cleantech AG

Juergen Habichler

Evershed’s Conference Presentation6 October 2010

Confidential – Copyright 2010 1111

Table of Contents

Mountain Cleantech - Overview1.

Investment Focus2.

P j t Fi i C St d3 Project Financing - Case Study3.


Mountain Cleantech AGStructureStructure

Mountain Cleantech is exclusively focused on investments in Clean T h l iTechnology companies

Investment Advisor

Deal Generation, Due Diligence

Portfolio and Exit Management

1st Fund: Stock-listed Fund 2nd Fund: Closed-end Fund

Target Investors: Family OfficesMainly Private Investors and SRI Funds Institutional Investors and Family Offices


OverviewExperienced Investment TeamExperienced Investment Team

Native German-speaking management team spanning Cleantech, Private E it d E t i l iEquity and Entrepreneurial experience

13+ years Entrepreneurial and Private Equity experience 18+ years Operational Cleantech Industry experience

Jürgen F. Habichler – Founder, Managing Partner Alexander von Hutten – Managing Partner

13 years Entrepreneurial and Private Equity experience Investment Manager at Atlas Ventures’ Germany Office Product Marketing and Sales Executive at Siebel Systems Inc.,

Silicon Valley, USA Associate in Investment Banking Division at Morgan Stanley,

UK Founder and Director of O.D.E. GmbH, Austria National Expert at European Commission, DGIII, Belgium

18 years Operational Cleantech Industry experience Advisory Board Member of En-tech Energietechnikproduktion

GmbH Partner and Investor at Cleantech company CVP Clean Value

Plastics GmbH, successful exit in 2007 Partner at CatCap Corporate Finance GmbH CEO of RWE Environmental Group Spain Project Manager at Cleantech Plant Manufacturer Lurgi AGNational Expert at European Commission, DGIII, Belgium

MBA, Wharton Business School, USA Languages: Native German-speaking (Austrian), English,

French, Russian

Project Manager at Cleantech Plant Manufacturer Lurgi AG Investment Manager at Cleantech-focused Family Office BA European Business School London, UK Languages: Native German, English, Swedish and Spanish

Daniel G Koppelkamm CFA – Investment Manager Felix Janßen – Investment Manager

7+ years Investment and Corporate Finance Experience Associate at Man Environmental Capital Opportunities, UK Senior Investment Analyst at Man Investments, UK Analyst at Credit Suisse, Spain/UK

Fi i l A l t t I t l C ti UK

5+ years Consulting, Corporate Finance and Private Equityexperience

Assistant to the CFO at ThyssenKrupp Materials in Shanghai Corporate Finance at German Utility E.ON Energie AG

B i D l t t D t h B h AG

Daniel G. Koppelkamm, CFA – Investment Manager Felix Janßen – Investment Manager

Financial Analyst at Intel Corporation, UK CFA, Chartered Financial Analyst MBA, Cass Business School, UK Languages: Native German, English, Spanish, Russian

Business Development at Deutsche Bahn AG Country Coordination at Siemens Business Services Diploma in Business Admin. and Computer Science, University

of Göttingen, Germany (Graduated Best of Class) Scholarship Holder from the Foundation of German Business Languages: Native German, English, Portuguese and Mandarin


OverviewGrowth Stage Cleantech InvestmentsGrowth Stage Cleantech Investments

Promising Growth Stage Portfolio in 1st Fund –f ll it t ti l it ft l th th f d lif ti

Company

Revenues 2009e: 100m EUR (+50% yoy)

Description Investment Highlights

one full exit, two partial exits after less than three years fund lifetime

Revenues 2009e: 100m EUR (+50% yoy) Capacity expansion of +250% from 2008 until 2010 One of the world market leaders in its segment Trade Sale to Nordic Capital Fund VII in June 2010

Recycling of slurry from semiconductor & PV wafer production

Exited

Vertically integrated carbon offset services & technology provider

Development, financing and consulting of carbon offset solutions

First listed Carbon Player in the German-speaking region Partial exit at Pure Klimaschutz generated 20% IRR

Reverse IPO in 2008: BGI acquired Ralos, disposed engineering division

Revenues 130m, EBIT 9m EUR 2008 (IFRS pro forma cons) Partial exit at 22% IRR, favorable deal terms provide

Planning and Integration of Solar Projects (System Integrator)

CurrentPortfolio

downside protection

German Solar System Integrator with strong focus on China

Revenues of 120m EUR in 2007/08 in Europe German-Chinese management team, strong local presence

in Europe and China


focus on China Chinese market for PV installations expected to grow rapidly

Investment Focus

Mountain Cleantech exposure to project finance

• Equity• Mezzanine• Co-Investors

Value Chain of the PV production industry

I

Productionof

II

Productionof

III

Productionof

IV

Productionof

V

PV- System Integration &

VI

PV park Maintenance

Ingots Wafers PV-Cells PV-Modulesg

Project & ServiceDevelopment

• Project Finance• Working Capital• Buy & Build

• R&D• M&A


Buy & Build

Project FinancingCase Study Sinosol AGCase Study Sinosol AG

Sinosol AG is well positioned to benefit from expected strong growth of Photovoltaic installations in China

CompanyDescription

International project developer and turn-key solution provider of Solar PV parks. As a German-Chinese group it benefits from established networks in both home markets in equipment sourcing as well as in sales and project realisation The

of Photovoltaic installations in China

Description markets, in equipment sourcing as well as in sales and project realisation. The activities of the Sinosol Group are currently focused on Europe and China.

Exposure to PV growth rates while avoiding the pitfalls of the upstream players: substantial capital requirements, margin squeeze and significant technology risk.

Chinese PV market is expected to be a major driving force for future PV demand growth but is lacking the know how to build large solar parks. Sinosol is extremely well positioned to profit from this.

Margins in the PV value chain are increasingly moving downstream Upstream players are increasingly integrating downstream creating exit

InvestmentThesis

Upstream players are increasingly integrating downstream, creating exit opportunities for downstream players.

Progress 15MW project in Almeria, Spain completed in 2008 generating 48m EUR of

revenues. Project was sourced by Mountain Cleantech AG.

Investment

Progressto Date

MCT invested 225k EUR in two rounds, owns 1.3% of the firm

IPO envisaged for June 2008 cancelled due to bad market conditions. Contracts with high profile project partners such as a E.ON/Schüco, Munich Re


& Returns Potential exit through strategic sale in 2011

Project FinancingCase Study Sinosol AGCase Study Sinosol AG

Structure of Sinosol Group 2010

Sinosol AG, Frankfurt (Germany)

Sinosol TechnologiesGmbH

Sinosol SystemsGmbHHamburg

Sinosol Asia Ltd.Beijing/Hongkong

Sinosol Projects GmbHFrankfurt

Sinosol Projects Asia Ltd.Beijing/ HKG

Sinosol Management GmbH

FrankfurtGermany

Hamburg Germany

HongkongChina

FrankfurtGermany

Beijing/ HKGChina

projects wholesale technology

FrankfurtGermany


Project FinancingCase Study Sinosol AG

Broad product and service offering covering the entire PV value chain

Case Study Sinosol AG

Sinosol is a project developer and/or a general contractor for solar parks

Sinosol is a wholesaler of PV components and systems

Projectdevelopment & planning

Project construction & ramp-up Service & operations

Verification of regulatory environment Identification of appropriate sites Verification of feed-in possibilities Measurement of solar radiation & area

Contracting of turnkey construction Sourcing of PV components Construction of the PV park together

with subcontractors or co-operation

Technical inspections Maintenance services Incident management Constant park surveillance

Securing land through long-term rent agreements or purchase

Application for official permits Project calculation & feasibility

ppartners

Regular inspections of work in progress

Maintaining the completion milestones

p(on site and via online access)

Project funding Detailed technical planning Securing supply of components Set-up of a special purpose vehicle

Ramp-up of the solar park Start of regular operations


Project FinancingCase Study Sinosol AG

Germany: Solar Park Nordendorf, 7,4 MWp

Case Study Sinosol AG

Size of Project:Country:Region:

7,4 MWpGermanyBavariaRegion:

City:

Start of construction:Date of Grid connection:

BavariaNordendorf (near Augsburg)

August 2009December 18, 2009

Site:

Modules:Module inclination:Module supplier:

formerly agricultural land

35.400 modules 210 Wp 25°Moser Baer poly cristallineModule supplier:

Inverters:

Energy Yield p.a.:Grid connection point:

ose ae po y c s a eSMA Sunny Central

1047 kWh/kWpapprox. 6 km away from the site

Grid connection parameters:Utility company:EPC contrator:

20 kV LEWSinosol AG


O&M contractor: Sinosol AG

Project Nordendorf - Structure

Sinosol Moser Baer Clean Energy Ltd.

100%

SPA

O&MFinancial Level

SPV

shares

EPC

Unicredit AG

Sinosol

EPCOperational Level

Subcontractor Construction

SMA AGMoser Baer Photovoltaics Ltd Construction

BOS Inverters

Photovoltaics Ltd

Modules


Disclaimer & Confidentiality

Disclaimer & ConfidentialityThe elements contained in this document have been prepared solely for the purpose of information and do not constitute an offer, in particular a prospectus or any invitation to treat,buy or sell any security or to participate in any investment strategy. This Document is not an offer to acquire shares nor is it a Prospectus, nor a Private Placement Memorandum.Investments may be suitable for private investors only if they are recommended by an authorized self-employed or a professional employed adviser acting on behalf of the investor onthe basis of a written agreement. This document may contain unaudited third party information. While particular attention has been paid to the contents of this document, no guarantee,warranty or representation, express or implied, is given to the accuracy, correctness or completeness thereof. Any information given in this document may be subject to change orupdate without notice. Neither Mountain Cleantech AG, nor Cleantech Invest AG, nor Mountain Cleantech Fund, nor any of their officers, directors or employees can be held direct orindirect liable or responsible with respect to the information and/or recommendations of any kind expressed herein This document and information contained herein is confidential and

This presentation and any other fund documentation have not been submitted to the German Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht) and the

indirect liable or responsible with respect to the information and/or recommendations of any kind expressed herein. This document and information contained herein is confidential andmust not be copied, reproduced, distributed or passed to any person at any time without our prior written consent. Any claims arising out of or in connection with the terms andconditions of this disclaimer are governed by Swiss law.

Legal notice for investors in GermanyThis presentation and any other fund documentation have not been submitted to the German Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht) and theinterests which are the object of this presentation have not been and will not be registered or authorised for public distribution in Germany under the German Securities SalesProspectus Act (WpPG), the German Sales Prospectus Act (WpVerkPG) or the German Investment Act (InvG). Accordingly, the Shares may not be, and are notbeing, offered, advertised or sold publicly or offered similarly and this presentation and any other offering materials may not be distributed to the public. Therefore, the informationcontained in this presentation and any other offering materials) is strictly confidential and is only being made to recipients to whom this presentation and other offering material ispersonally addressed and does not constitute an offer or advertisement to the public. Recipients may not pass this presentation or any other marketing materials on to third personsexcept to their advisors for purposes of evaluating their own investment. Investors should be aware that there might be disadvantageous tax consequences under the GermanInvestment Tax Act when purchasing interests that the German tax authorities qualify as units in a foreign investment fund. If in doubt, please consult your financial or tax adviser

The content of this presentation has not been approved by an authorised person within the meaning of the United Kingdom Financial Services and Markets Act 2000 (FSMA). Relianceon this presentation for the purpose of engaging in any investment activity may expose an Investor to a significant risk of losing all of the property or other assets invested This

Investment Tax Act when purchasing interests that the German tax authorities qualify as units in a foreign investment fund. If in doubt, please consult your financial or tax adviserbefore purchasing the Shares.

Legal notice for investors in the United Kingdom

on this presentation for the purpose of engaging in any investment activity may expose an Investor to a significant risk of losing all of the property or other assets invested. Thispresentation is issued by the General Partner, which is not a company authorised and regulated by the UK Financial Services Authority (the FSA). For the purposes of FSMA, the Fundwill be treated as an unregulated collective investment scheme. The Fund is not regulated or recognised by the FSA. Consequently, investors in the Fund will not have the benefit ofthe Financial Services Compensation Scheme or other protections afforded under FSMA or the rules and regulations made thereunder. This presentation is for distribution in the UnitedKingdom only to persons who are of a kind to whom the Fund may lawfully be promoted under the FSMA (Financial Promotion) Order 2005 (the Relevant Persons). This presentation isexempt from the general restriction on financial promotion in section 21 of FSMA on the grounds that it is being issued to and/or directed at such Relevant Persons. Such RelevantPersons include investment professionals, high net worth companies and unincorporated associations. Persons who are not Relevant Persons should not act or rely on thispresentation or any of its contents


presentation or any of its contents.

Disclaimer & Confidentiality

Legal notice for investors in AustriaInterests in the Fund may qualify as an investment under the Austrian Capital Market Act or as a foreign Fund under the Austrian Investment and Investment Tax Act. The interests inthe Fund will only be offered to Austrian investors who will invest an amount of minimum EUR 50.000,-. Furthermore, interests in the Fund are not registered for public distribution inAustria and may therefore not be publicly distributed in Austria. This presentation is addressed to the named recipient only and does not constitute an offer or advertisement to thepublic. This presentation is strictly for the use of the person who has received it from or on behalf of the Fund. It should be noted that if the Austrian Investment Tax Act applies, theremight be disadvantageous tax consequences for Investors. Each Investor is strongly advised to consider those possible tax consequences and is strongly advised to consult its own taxcounsel.

The Fund has not been approved by the Swiss Financial Market Supervisory Authority as a foreign collective investment scheme pursuant to Article 120 of the Collective InvestmentSchemes Act of June 23, 2006 ("CISA"). Accordingly, the interests may not be offered to the public in or from Switzerland, and neither this presentation, nor any other materials relatingto the interests may be made available through a public offering in or from Switzerland. The interests may only be offered and this presentation may only be distributed in or fromSwitzerland to qualified investors (as defined in the CISA and its implementing ordinance) and to a limited number of other offerees otherwise than through a public offering in or fromS it l d

Legal notice for investors in Switzerland

The offering of interests in the Fund is not subject to the Investment Fund Act of 1981 or the Securities Trading Act of 1997. No action has or will be taken for the offering of Interests inthe Fund to be registered under the public offering rules of the Securities Trading Act 1997. The Fund has not been, nor will be, registered or approved by the Financial Supervisory

Switzerland.

Legal notice for investors in Norway

the Fund to be registered under the public offering rules of the Securities Trading Act 1997. The Fund has not been, nor will be, registered or approved by the Financial SupervisoryAuthority of Norway (Kredittilsynet) and is thus not under public supervision in Norway. Each investor should carefully consider individual tax issues before investing in the Fund. Thispresentation must not be copied or otherwise distributed by the recipient.

This presentation has not and will not be registered with or approved by Finansinspektionen (the Swedish financial supervisory authority) Accordingly this presentation may not be

Legal notice for investors in SwedenThis presentation has not and will not be registered with or approved by Finansinspektionen (the Swedish financial supervisory authority). Accordingly, this presentation may not bemade available, nor may the interests in the Fund offered hereunder be marketed and offered for sale in Sweden, other than under circumstances which are deemed not to be an offerto the public in Sweden under the Swedish Financial Instruments Trading Act (1991:980) or the Investment Funds Act (2004:46). This presentation will only be made to a limitednumber of identified persons or entities in Sweden. Historical performance is not a guarantee for future performance. Investments made in the Fund may decrease as well as increasein value, and it cannot be guaranteed that your initial investment will be returned in its entirety.


Financiering van gEnergie Prestatie Contracten

ir. Frank Bakkerir. Frank Bakker6 oktober 2010

Agenda

• Doelstelling

• Introductie van Honeywell

• Energie Prestatie Contract is …Energie Prestatie Contract is …

Fi i i lijkh d• Financieringsmogelijkheden

• Voorbeeld van financiering

25 HONEYWELL - CONFIDENTIAL 6 oktober 2010

Doelstelling

• Financierbaarheid vanEnergie Prestatie Contracten

bij b t d bbij bestaande gebouwen


Introductie van Honeywell

• Circa 50% van portfolio van Honeywell is gerelateerd aan energie efficiencyenergie efficiency- Turbochargers- Klokthermostaten

‘G f l ’- ‘Green fuels’

• http://addhoneywell.comp y

• Meer dan 5.000 Energie Prestatie Contracten metPrestatie Contracten met € 1.500.000.000 aan gegarandeerde energiebesparingeng p g


Energie Prestatie Contract (EPC) is …

• Partnership met een instelling, waarbij Honeywell prestatieverplichtingenaangaataangaat

• Gegarandeerde reductie van i ti & ti li ienergieconsumptie & optimalisering

van energie-inzet

• Turn-key project met implementatie van maatwerk energiebesparendemaatregelen


5 stappen proces

2. VoorlopigeAnalyse

3. GedetailleerdeAnalyse

4. Overeenstemming & Implementatie

5. Energie bespa-ringsgarantie

1. Introductievan EPC

Pl i A tV t t llInteresse in • Planning, installatie, project management

• Energie efficiënte

• Aantonen van gegarandeerde besparingen

• ‘Measurement &

• Uitwerken vanbusiness case tot in detail

• Meetcampagnes

• Vaststellen van kader analyse: technisch & €

• Business case:

• Interesse in energiebesparing

• ‘Doorgronden’ van EPC-concept g

maatregelen in bedrijf

verification’ diensten

• Management-rapportages

p g

• Garantie van besparingen zwart-op-wit

besparingen & investeringen

• Intentieverklaring

• Autorisatie-verklaring

• Concept EPC met onderliggende offertes


Financieringsmogelijkheden

1. Financiering uit eigen middelen2. Lening via bank3. Lease-overeenkomst via bank:

budgetneutrale financiering mogelijk

Instelling

Bank


Hoe budgetneutrale financiering werkt

Besparingen Blijvende€

Energy / SavingsContinueEnergie

&

p gfinancieren complete

EPC

Blijvende besparingen

voor U

UtilityCost

Continue& Opera-tionele Energie

&

Jaarlijksekosten

Jaarlijksekosten Energie

&

Energy /Utility

Kosten & Opera-tionele

Jaarlijksekosten

& Opera-tioneleUtility

Cost

Tijd

Kosten Kosten

Na EPCTijd

Tijdens EPCHuidig


Voorbeeld van financiering

Kosten-baten

€ 180 000 00

€ 140.000,00

€ 160.000,00

€ 180.000,00

€ 100.000,00

€ 120.000,00 BesparingKostencumulatief

€ 40.000,00

€ 60.000,00

€ 80.000,00

€ -

€ 20.000,00

,

2008 2009 2010 2011 2012 2013 2014 2015 2016 20172008 2009 2010 2011 2012 2013 2014 2015 2016 2017


Kenmerken van deze financiering

• Financial lease

• Maatwerkfinanciering van turn-key project: hardware, software, installatiewerk en diensten

• Budgetneutrale oplossing: afstemming van jaarlijkse leasekosten op jaarlijkse energiebesparingjaarlijkse leasekosten op jaarlijkse energiebesparing

• Relatie: “eersteklas EPC business case met een interessante financiële oplossing”interessante financiële oplossing


Voordelen voor EPC’s

• Duidelijke business case op één A4-tje

• Geen technische & financiële risico’s

• Maatwerkfinanciering is mogelijk


Bedankt voor uw aandacht & interesse!

ir Frank Bakker Honeywell Building Solutionsir. Frank BakkerBusiness DevelopmentEnergy Solutions

Honeywell Building SolutionsPostbus 2437300 AE Apeldoorn

[email protected] 06 53 74 52 14 06 – 53 74 52 14

www.honeywell.nly


RONDE TAFEL6 oktober 2010

INNOVATIEVE FINANCIERINGSVORMENeen analyse van de acceptatie van finnovaties voor duurzame maatregelen in de bouwsector.

Is het eigenlijk wel zo urgent?Is het eigenlijk wel zo urgent?

37

Ieder voor zich, maar ik doe het voor hen…Ieder voor zich, maar ik doe het voor hen…

38

Doel 2050 is: duurzaam opgewekt, All ElectricDoel 2050 is: duurzaam opgewekt, All Electric

39

Maar dan ook ElectricALLMaar dan ook ElectricALL

40

In 2040 zijn de 2050-ambities van nu financieelIn 2040 zijn de 2050 ambities van nu financieel in ieder geval niet meer haalbaar

41

Duurzame innovaties anno 2010Duurzame innovaties anno 2010

42

We zetten de verkeerde technieken inWe zetten de verkeerde technieken in met een onhandige timing om de verkeerde zaken op te lossen, metde verkeerde zaken op te lossen, met traditionele financieringsvormen

43

Hoe dit tij te keren? Alles is mogelijk!Hoe dit tij te keren? Alles is mogelijk!

44

Doelstelling ISA (Innovatie Systeem Analyse)

• Technologische innovatieprocessen inzichtelijk maken,l d i h l th d

Doelstelling ISA (Innovatie Systeem Analyse)

langs een dynamisch analyse methode

• Monitoren en evaluatie van een transitie in die sector hier de finnovaties• Monitoren en evaluatie van een transitie in die sector, hier de finnovaties

45

ISA Financiële innovatiesISA Financiële innovaties

aanpak: p

• Stakeholderanalyse financiële sector over de financiële constructies di di ij i d b t d f t ddie nodig zijn om in de bouwsector de focus te veranderen van initiële kosten naar Total Cost of Ownership.

• Positioning Paper over de te benutten kans voor woonproducenten die met nieuwe financieringsconstructies aan de vraag van woonconsumenten kan worden aangebodenwoonconsumenten kan worden aangeboden.

• Stakeholderanalyse bouwsector-breed over financiële innovaties met de focus op het benutten van de kansen in plaats van de belemmering voor acceptatie.

46

De acceptatie van financiële constructies na 2008De acceptatie van financiële constructies na 2008

47

Stakeholdersanalyse met ISAStakeholdersanalyse met ISA

• Interviews in de financiële branche en in de uitvoerende bouwsector

48

De 7 innovatiefactorenDe 7 innovatiefactoren• Reflectie van knelpunten en stimulerende krachten

1. Ondernemersactiviteiten

2 K i t ikk li2. Kennisontwikkeling

3. Kennisuitwisseling

4. Richting geven aan het Zoekproces

5 Marktontwikkeling5. Marktontwikkeling

6. Mobiliseren van Middelen

7. Ondersteuning van Belangengroepen

49

Van anekdotische kennis naar integrale strategieVan anekdotische kennis naar integrale strategie• Analyse krachten en knelpunten• Benoemen motoren van innovatie• Benoemen motoren van innovatie• Formuleren adviezen en interventiestrategieën voor een meer

succesvol innovatietraject

50

Positioning PaperPositioning Paper

• Toon de financieringsmarkt de kansen voor afnemers toon onderzoeken over de bereidheidtoon onderzoeken over de bereidheid

51

Positioning PaperPositioning Paper• Maak genoemde financiële constructies inzichtelijk voor de bouw

Reken het voordeel voorReken het voordeel voor

meerinvestering

extrahypotheeklasten

dalingEnergielasten

netto voordeel

varianten [€] [€/jaar] [€/jaar] [€/jaar]referentiewoningEPC = 0,8

0 0 0 0

PassiefhuisEPC = 0,4

20.000 580 696 116

Passiefhuis + PV

31.034 900 957 57+ PVEPC = 0,0

52

Positioning PaperPositioning Paper• Maak voor de bouw de vertaalslag naar marketing en communicatie

53

Eerste resultatenEerste resultaten

• Succesfactor voor genoemde finnovaties : voor het gezond belang, g g g,doelbewust het eigen netwerk inzetten.

• Het is een nichemarkt die zal groeien zodra de klant werkelijk t l l k tcentraal zal komen staan.

Ondernemersactiviteiten

2

3

4

5

KennisontwikkelingOndersteuning van Belangengroepen

0

1

2

K i it i liM bili Midd l

oktober

KennisuitwisselingMobiliseren van Middelen

54

Richting geven aan het ZoekprocesMarktontwikkeling

Aanbevelingen SEXI brengenAanbevelingen SEXI brengen

• State, breng een innovatie wervend

• EXplain, leg goed uit wat er speelt rond die innovatie.

Ill t t f k d b ld• Illustrate, geef sprekende voorbeelden

55

Kennisontwikkeling & KennisuitwisselingKennisontwikkeling & Kennisuitwisseling

• Er is een kenniskloof tussen aanbieders en potentiële gebruikers• Er is een kenniskloof tussen aanbieders en potentiële gebruikers van finnovaties in de bouw.

56

•WKO•Outsourcen

?

•WKO•zelf

•0% zorgen•0% zeggenschap

•100% zorgen•100% zeggenschap

? beheren?

•0% zeggenschap •100% zeggenschap

Lagere investering door verkoop aan exploitant Zeggenschap tariefontwikkeling

h ll dWoningcorporatie houdt focus op core business

Geen belasting eigen organisatie

Geen risico’s exploitatie

Zeggenschap allocatie rendement

Beheersen warme huur

Transparantie exploitatie

57

p p p

•WKO •WKO

•0% zorgen100% h

WKO•Outsourcen

?

•WKO•zelf

beheren?

•0% zorgen •100% zorgen•100% zeggenschap

•0% zeggenschap •100% zeggenschap

Aflossen leningExploiterenTevreden

58

Aflossen leningExploiteren+

Herinvesteren

bewoners met blijvend lage

energielasten.

Ondernemersactiviteiten &Ondernemersactiviteiten & Mobiliseren van middelen

• Aanbieders van duurzame maatregelen leggen de co-financieringvast in een langlopende samenwerking met de opdrachtgever. Dit is g p g p gsuccesvol als de juiste partij de logische voortrekkersrol speelt.

• DBMFO Design Build Maintain Finance Operate• DBMFO Design Build Maintain Finance Operate• ESCO Energy Service Company• COP Community of Practice

59

GeldstromenGeldstromenbeheersfase

61

Beleid, wet- en regelgevingBeleid, wet en regelgeving

• Finnovaties zijn veelal afhankelijk van lange termijn fiscaleFinnovaties zijn veelal afhankelijk van lange termijn fiscale regelgeving.

• Een groene hypotheek is gekoppeld aan de EIA-groenfinanciering. De AFM belemmert nog steeds een hypotheek op woonlasten terwijl d lfd h id l i i t d t t d h id b d t idezelfde overheid wel inziet dat een extra duurzaamheidsbudget in de Nationale Hypotheek Garantie past.

62

Richting geven aan het zoekproces enRichting geven aan het zoekproces en ondersteuning door belangengroepen

• Lobby loopt niet langer via traditionele brancheverenigingen, wel wordt via eigen netwerk richting gegeven aan de bedrijfsactiviteiten.

• via certificaat of groenbelegging zou in een eigen installatie kunnenvia certificaat of groenbelegging zou in een eigen installatie kunnen worden geïnvesteerd. Een VVE is echter in Nederland nog geen rechtspersoon. Dat is alleen via een flink netwerk te wijzigen.

63

conclusie en aanbevelingenconclusie en aanbevelingen

• In de huidige bouwwijze is weinig markt voor finnovaties.g j g• Stel de eindgebruiker centraal om die markt te vergroten• Ga samenwerking aan met strategische partijen om de duurzame

b fi i l h lb t kbouw financieel haalbaar te maken

4

5

Ondernemersactiviteiten

KennisontwikkelingOndersteuningvan Belangengroepen

0

1

2

3 KennisontwikkelingOndersteuning van Belangengroepen

oktober

0

KennisuitwisselingMobiliseren van Middelen

Richting geven aan het ZoekprocesMarktontwikkeling64

Ronde tafel – 6 oktober 2010 - Eversheds Sutherland · 15.30 Presentatie Auke de Boer, ING Groen...

Documents

Transcript of Ronde tafel – 6 oktober 2010 - Eversheds Sutherland · 15.30 Presentatie Auke de Boer, ING Groen...