Andrew Cullen Head Renewable Energy ROI Bank of Ireland Business Banking Green Economy Expo 2010
Growing Renewable Energy in Ireland… A Lender’s Perspective
<ul><li>Current Irish Electricity Fuel Sources </li></ul><ul><li>Renewable Energy Generation Targets </li></ul><ul><li>Rol...
Current Irish Electricity  Fuel Sources *Indicative, based on provisional data from TSO and SEMO/Analysis Eirgrid
Renewable Energy  Generation Targets <ul><li>14% Renewable Energy Generation Target by 2010 </li></ul><ul><li>40% Renewabl...
Rollout of Wind Generation  in Ireland <ul><li>Connected (Gate 1 & 2) 1,260 MW - operational </li></ul><ul><li>Contracted ...
Windfarm Development in Ireland
Financing Renewable Energy Projects <ul><li>Two specific types of debt finance: </li></ul><ul><li>Recourse Finance – stand...
Bank of Ireland –  Renewable Energy Fund <ul><li>Dedicated €200m Fund </li></ul><ul><li>Launched March 2009 </li></ul><ul>...
Bank of Ireland  & Project Finance The Governor and Company of the Bank of Ireland is regulated by the Financial Regulator...
Bank of Ireland – Experience <ul><li>A Leading Financier in </li></ul><ul><li>Irish Wind Farm transactions  </li></ul><ul>...
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Bank ofireland greenexpo

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Bank ofireland greenexpo

  1. 1. Andrew Cullen Head Renewable Energy ROI Bank of Ireland Business Banking Green Economy Expo 2010
  2. 2. Growing Renewable Energy in Ireland… A Lender’s Perspective
  3. 3. <ul><li>Current Irish Electricity Fuel Sources </li></ul><ul><li>Renewable Energy Generation Targets </li></ul><ul><li>Roll Out of Wind Generation in Ireland </li></ul><ul><li>Windfarm development in Ireland </li></ul><ul><li>Financing Renewable Energy Projects </li></ul><ul><li>BOI Renewable Energy Fund </li></ul><ul><li>BOI & Project Finance </li></ul><ul><li>BOI Experience </li></ul>Presentation Overview The Governor and Company of the Bank of Ireland is regulated by the Financial Regulator in Ireland. A member of Bank of Ireland Group.
  4. 4. Current Irish Electricity Fuel Sources *Indicative, based on provisional data from TSO and SEMO/Analysis Eirgrid
  5. 5. Renewable Energy Generation Targets <ul><li>14% Renewable Energy Generation Target by 2010 </li></ul><ul><li>40% Renewable Energy Generation Target by 2020 </li></ul>
  6. 6. Rollout of Wind Generation in Ireland <ul><li>Connected (Gate 1 & 2) 1,260 MW - operational </li></ul><ul><li>Contracted (Gate 2) 1,360 MW - development </li></ul><ul><li>Gate 3 3,990 MW - development </li></ul><ul><li>=> Approved Capacity 6,610 MW </li></ul><ul><li>In Queue 11,000 MW </li></ul><ul><li>National annualised peak usage circa 5,000 MW </li></ul><ul><li>Source: Eirgrid </li></ul>
  7. 7. Windfarm Development in Ireland
  8. 8. Financing Renewable Energy Projects <ul><li>Two specific types of debt finance: </li></ul><ul><li>Recourse Finance – standard debt finance, Bank seeks security and repayment capacity that is independent of the proposed project. </li></ul><ul><li>Non-recourse Finance – project specific debt finance, Bank ring fences a project’s assets and associated cashflows in order to service the debt finance. </li></ul>
  9. 9. Bank of Ireland – Renewable Energy Fund <ul><li>Dedicated €200m Fund </li></ul><ul><li>Launched March 2009 </li></ul><ul><li>Irish based Renewable Energy Projects </li></ul><ul><li>New or Expanding Projects </li></ul><ul><li>Area of significant growth potential </li></ul><ul><li>Fund – focus primarily on small to medium sized deals </li></ul><ul><li>… . very much “open for business” for larger deals too </li></ul>
  10. 10. Bank of Ireland & Project Finance The Governor and Company of the Bank of Ireland is regulated by the Financial Regulator in Ireland. A member of Bank of Ireland Group.
  11. 11. Bank of Ireland – Experience <ul><li>A Leading Financier in </li></ul><ul><li>Irish Wind Farm transactions </li></ul><ul><li>UK Waste Management transactions </li></ul><ul><li>European Renewable Energy </li></ul><ul><li>A highly experienced team of 40 professionals based in Dublin, London, New York, Sydney </li></ul><ul><li>High quality structuring and arranging capability – support timely and successful completion of projects </li></ul><ul><li>Key growth area for the Bank – long term commitment to the market </li></ul>

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