A silent (so far) revolution has been pioneered for Indian renewable companies (RC) which is no less than the fad and hype of the technology sector. RCs need to explore sustainable renewable energy finance with IPOs, innovative structures like Yield Cos (Utility and commercial scale plants) as also investment plans (for residential solar - My power loans)
The presentation essentially summarizes the renewables eco system in India, global solar experiences (US), IFRS/ US GAAP A/C issues for renewables sector, future of solar n grid parity, US IPO concepts n regulatory environment.
This document discusses the annual revenue requirement and tariff order of GRIDCO Ltd for fiscal year 2015-16. It summarizes GRIDCO's power purchase costs, pass through expenses, interest expenses, and expected revenue from distribution companies. It also outlines GRIDCO's total revenue requirement, excess/deficit on revenue requirements, power purchase details for different distribution companies, and statements of profit and loss and balance sheet. Suggestions are provided such as proper trading policy, reducing outstanding dues, fulfilling revenue deficit, investing surplus funds, and improving employee skills.
Buy Rural Electrification, MoU signed with TSGENCO for funding for proposed p...IndiaNotes.com
Rural Electrification Corporation Ltd (REC) reported a 20% increase in net sales to Rs. 53334 million for Q4 FY15 compared to the same period last year. Net profit decreased by 8% to Rs. 10965 million. EBITDA grew by 11% to Rs. 47535 million. REC signed a memorandum with Telangana state government to provide Rs. 240000 million in funding for power projects. For FY15-17E, the company expects net sales and profit to grow at a CAGR of 17% and 13% respectively.
Keppel Corporation aims to accelerate growth through its Vision 2030 plan, which focuses on becoming a global leader in sustainable urbanization solutions. The plan has four key focus areas: energy transition and climate change, rapid urbanization and aging populations, digitalization, and increased liquidity. Keppel will transform its business by building new growth engines, pursuing inorganic growth opportunities, and restructuring to increase focus and discipline. It will also unlock value through asset monetization to fund growth and create shareholder value. In the first half of 2021, Keppel significantly improved its financial performance and delivered a strong dividend compared to previous periods.
CESC Q4FY15: Net sales up 13.64% y/y to INR14,160m, Firstcall recommend 'Buy'IndiaNotes.com
CESC Limited reported financial results for the quarter ending March 31, 2015. Net sales increased 13.64% year-over-year to Rs. 14,160 million. Net profit grew 0.41% to Rs. 2,440 million. EBITDA increased 2.12% to Rs. 4,810 million. The company expects net sales and profit to grow at a CAGR of 7-8% through 2017 on plans to strengthen its distribution network. It recommends a dividend of Rs. 9 per share.
- The presentation discusses CPFL Energia's third quarter 2017 results and provides forward-looking statements subject to risks and uncertainties.
- Key highlights include a 62.7% increase in net operating revenue and a 13.8% increase in EBITDA. Investments totaled R$544 million. Net debt was R$13.7 billion with leverage of 3.24x.
- The acquisition of RGE Sul contributed to sales and EBITDA growth, while unfavorable hydrological conditions impacted energy prices and generation. The State Grid transaction is proceeding as planned.
The company reported a net profit of S$300 million for the first half of 2021, reversing a net loss of S$537 million in the same period last year. All key business units were profitable. Revenue grew 16% to S$3.677 billion compared to the first half of 2020. The company exceeded its asset monetization target of S$3-5 billion by July 2021 and aims to achieve the higher end of the target range by 2023 to fund growth initiatives. The interim cash dividend was increased to 12 cents per share from 3 cents last year.
Keppel Corporation 3Q & 9M 2021 Business Update SlidesKeppelCorporation
- Keppel Corporation reported a sharp reversal in performance in 9M 2021 from a loss in 9M 2020, with significant improvement in net profit.
- Asset monetisation is on track to exceed its S$5 billion target by 2023, with S$2.4 billion announced to date, to fuel growth plans.
- All business segments performed better in 9M 2021 compared to 9M 2020, with the offshore and marine segment returning to profitability.
- Keppel is making progress executing its Vision 2030 strategy and proposed transactions, while seizing opportunities in renewables and sustainability solutions.
Mr Loh Chin Hua, CEO of Keppel, presented at the company's Annual General Meeting on June 2, 2020. Keppel reported net profit of S$707 million and revenue of S$7.6 billion in 2019. The Property division contributed S$517 million in net profit from home sales of over 5,000 units. Infrastructure net profit was S$169 million. COVID-19 has impacted different business divisions to varying degrees, with Offshore & Marine facing delays and Infrastructure & Connectivity seeing some resilience. Keppel aims to chart its future through Vision 2030 by focusing on integrated solutions across key areas of Energy & Environment, Urban Development, Connectivity and Asset Management.
This document discusses the annual revenue requirement and tariff order of GRIDCO Ltd for fiscal year 2015-16. It summarizes GRIDCO's power purchase costs, pass through expenses, interest expenses, and expected revenue from distribution companies. It also outlines GRIDCO's total revenue requirement, excess/deficit on revenue requirements, power purchase details for different distribution companies, and statements of profit and loss and balance sheet. Suggestions are provided such as proper trading policy, reducing outstanding dues, fulfilling revenue deficit, investing surplus funds, and improving employee skills.
Buy Rural Electrification, MoU signed with TSGENCO for funding for proposed p...IndiaNotes.com
Rural Electrification Corporation Ltd (REC) reported a 20% increase in net sales to Rs. 53334 million for Q4 FY15 compared to the same period last year. Net profit decreased by 8% to Rs. 10965 million. EBITDA grew by 11% to Rs. 47535 million. REC signed a memorandum with Telangana state government to provide Rs. 240000 million in funding for power projects. For FY15-17E, the company expects net sales and profit to grow at a CAGR of 17% and 13% respectively.
Keppel Corporation aims to accelerate growth through its Vision 2030 plan, which focuses on becoming a global leader in sustainable urbanization solutions. The plan has four key focus areas: energy transition and climate change, rapid urbanization and aging populations, digitalization, and increased liquidity. Keppel will transform its business by building new growth engines, pursuing inorganic growth opportunities, and restructuring to increase focus and discipline. It will also unlock value through asset monetization to fund growth and create shareholder value. In the first half of 2021, Keppel significantly improved its financial performance and delivered a strong dividend compared to previous periods.
CESC Q4FY15: Net sales up 13.64% y/y to INR14,160m, Firstcall recommend 'Buy'IndiaNotes.com
CESC Limited reported financial results for the quarter ending March 31, 2015. Net sales increased 13.64% year-over-year to Rs. 14,160 million. Net profit grew 0.41% to Rs. 2,440 million. EBITDA increased 2.12% to Rs. 4,810 million. The company expects net sales and profit to grow at a CAGR of 7-8% through 2017 on plans to strengthen its distribution network. It recommends a dividend of Rs. 9 per share.
- The presentation discusses CPFL Energia's third quarter 2017 results and provides forward-looking statements subject to risks and uncertainties.
- Key highlights include a 62.7% increase in net operating revenue and a 13.8% increase in EBITDA. Investments totaled R$544 million. Net debt was R$13.7 billion with leverage of 3.24x.
- The acquisition of RGE Sul contributed to sales and EBITDA growth, while unfavorable hydrological conditions impacted energy prices and generation. The State Grid transaction is proceeding as planned.
The company reported a net profit of S$300 million for the first half of 2021, reversing a net loss of S$537 million in the same period last year. All key business units were profitable. Revenue grew 16% to S$3.677 billion compared to the first half of 2020. The company exceeded its asset monetization target of S$3-5 billion by July 2021 and aims to achieve the higher end of the target range by 2023 to fund growth initiatives. The interim cash dividend was increased to 12 cents per share from 3 cents last year.
Keppel Corporation 3Q & 9M 2021 Business Update SlidesKeppelCorporation
- Keppel Corporation reported a sharp reversal in performance in 9M 2021 from a loss in 9M 2020, with significant improvement in net profit.
- Asset monetisation is on track to exceed its S$5 billion target by 2023, with S$2.4 billion announced to date, to fuel growth plans.
- All business segments performed better in 9M 2021 compared to 9M 2020, with the offshore and marine segment returning to profitability.
- Keppel is making progress executing its Vision 2030 strategy and proposed transactions, while seizing opportunities in renewables and sustainability solutions.
Mr Loh Chin Hua, CEO of Keppel, presented at the company's Annual General Meeting on June 2, 2020. Keppel reported net profit of S$707 million and revenue of S$7.6 billion in 2019. The Property division contributed S$517 million in net profit from home sales of over 5,000 units. Infrastructure net profit was S$169 million. COVID-19 has impacted different business divisions to varying degrees, with Offshore & Marine facing delays and Infrastructure & Connectivity seeing some resilience. Keppel aims to chart its future through Vision 2030 by focusing on integrated solutions across key areas of Energy & Environment, Urban Development, Connectivity and Asset Management.
Keppel Corporation Annual General Meeting CEO Presentation SlidesKeppelCorporation
Keppel Corporation's CEO, Mr Loh Chin Hua, presented at the company's Annual General Meeting on 23 April 2021. The presentation provided an overview of Keppel's financial performance in 2020, business segment updates, and key questions from shareholders. Specifically:
- Keppel reported a net loss of S$506 million for FY2020 mainly due to impairments, but revenue was S$6.6 billion.
- Keppel O&M recorded a large net loss of S$1.194 billion mainly from impairments and COVID-19 impacts.
- Keppel is transforming its business segments in line with Vision 2030 to become more integrated and sustainable.
-
Webcast Presentation CPFL Energia_2Q13_finalCPFL RI
- Total energy sales outside of the Group were up 7.7% and energy sales within the concession area were up 2.6% in 2Q13. EBITDA increased 15.8% to R$248.9 million due to commercialization and services as well as conventional generation, partially offset by regulatory and non-recurring items. Net income decreased 29% to R$163 million due to financial results and regulatory and non-recurring effects. CPFL Energia continues expanding into new regions with 632 new housing developments in 1H13 and received various awards for excellence.
1) CPFL Energia is the largest integrated private electricity company in Brazil with a market cap of R$27.5 billion. It has leadership positions in distribution, generation from renewable sources, and energy trading and services.
2) The company has 9 distribution subsidiaries serving over 9 million customers. Its generation portfolio has 3,283 MW of installed capacity, 95% from renewable sources.
3) For the last 12 months (LTM) as of 3Q17, CPFL Energia reported EBITDA of R$4.5 billion and net income of R$883 million. The company aims to increase operational efficiency through technology and pursue strategic growth opportunities.
The document provides a summary of CPFL Energia's 3Q17 results. Some key highlights include:
- Net operating revenue increased 62.7% and EBITDA increased 13.8% compared to 3Q16.
- Investments totaled R$544 million in the quarter. Net debt was R$13.7 billion with leverage of 3.24x.
- Energy sales increased 18.4% compared to 3Q16, driven in part by the acquisition of RGE Sul. Excluding RGE Sul, sales increased 3.2% in the concession area.
- EBITDA growth was driven by higher sales from the distribution business including RGE Sul, as well as the start
Kengen is a Kenyan power company that aims to generate 3,000MW of power by 2018 (Horizon II of its "Good to Great" plan). As of 2015, installed capacity was 1,537MW, making the Horizon II target unlikely. Kengen plans to raise capital through a rights issue and debt conversion to equity to fund projects that could add 1,000MW by 2018. However, the company has high capital expenditures, accounting policies that boost profits, and is expected to have slowing growth. The analyst recommends selling the stock, as its ambitious expansion plans threaten cash flows and it is unlikely to deliver long-term value.
The document summarizes the financial challenges facing Asheville due to increasing expenditures outpacing revenue growth. Proposed state legislation would further widen Asheville's budget gap by an estimated $11.7 million over two years requiring significant service cuts or tax increases. Staff recommends delaying the budget schedule to gain more clarity on the financial impact and seek additional council direction on balancing strategies.
Keppel Corporation provided a business update for 3Q and 9M 2020. Key points include:
- Keppel identified $17.5 billion in assets that can potentially be monetized to fund growth initiatives, with plans to unlock $3-5 billion over the next 3 years.
- Revenue declined 10% for 9M 2020 due to impacts of COVID-19, though most business units were profitable in 3Q 2020.
- Keppel O&M remained loss-making for 3Q 2020 due to industry challenges from the pandemic, but secured new contracts totaling $900 million year-to-date, mainly in offshore wind and LNG projects.
- Home sales picked up in Singapore
1) Keppel's 1Q 2020 net profit was down 21% to S$160 million due to the impact of COVID-19, with revenue up 21% to S$1.857 billion.
2) Key highlights included Infrastructure contributing S$174 million in net profit, while Offshore & Marine and Investments saw losses.
3) The group has a strong balance sheet with a net gearing ratio of 0.88x and free cash inflow of S$37 million in 1Q 2020.
- Keppel Corporation is transforming to provide solutions for sustainable urbanization through its offshore and marine, property, infrastructure, and asset management businesses.
- It is meeting growing needs for energy, infrastructure, homes, offices, clean environments, and connectivity.
- Keppel aims to create and capture value through its business model of developing assets, operating and maintaining them, and eventually stabilizing and monetizing them through REITs and trusts.
Corporate Presentation CPFL Energia - May 2017CPFL RI
This document provides an overview of CPFL Energia, including:
1) CPFL Energia is the largest integrated private electricity company in Brazil with a market cap of R$26.5 billion and presence in distribution, generation, renewable energy and services.
2) In the last 12 months, CPFL Energia achieved an EBITDA of R$4,287 million and net income of R$879 million.
3) CPFL Energia has 9 distribution subsidiaries serving 9.3 million customers, 3,258 MW of installed generation capacity of which 94% is renewable, and is a leader in value-added energy services in Brazil.
- Duke Energy reported ongoing diluted EPS of $0.25 for the second quarter of 2007, up from $0.24 in the second quarter of 2006. Special items reduced EPS by $0.01 in 2007.
- Improved results from the FE&G, Commercial Power, and International segments contributed to the EPS growth, offset by lower results from Crescent Resources.
- Duke Energy expects to exceed its 2007 employee incentive target of $1.15 in ongoing diluted EPS for the full year.
Power distribution tariff in india 2016 discom wise and consumer wise compre...Sakshi Saini
By meticulously examining the regulation, the latest trends governing the key fuel resources and deeply analysing the possible impacts on all the stakeholders, enincon llp attempts to blend the factual power tariff data and present a dossier which would enable clients with reliable insights and better understanding of the power tariff dynamics in the country.
Corporate Presentantion CPFL Energia June 2015CPFL RI
This document provides an overview of CPFL Energia's history and operations from 1997 to 2015. It discusses CPFL Energia's expansion through acquisitions and greenfield projects in distribution, generation, and renewable energy. It also summarizes the company's financial performance over time and highlights its ambitions going forward to maintain leadership in operating efficiency across its business segments.
Corporate Presentation - CPFL Energia - Outubro/2014CPFL RI
This document provides an overview of CPFL Energia, a Brazilian electricity company. It discusses the company's operations in distribution, generation, competitive power supply and services. In distribution, CPFL Energia has a 13% market share in Brazil through 8 distribution companies serving 7.5 million customers. In generation, it has over 1 GW of installed capacity from hydroelectric and thermal power plants. It also has a leading position in renewable energy in Brazil with over 1 GW of installed capacity from hydro and wind power. The document reviews the company's financial performance and growth strategies across its business segments.
This document provides a summary of CPFL Energia's business for 3Q15. It discusses CPFL Energia's history of expansion since privatization in 1998 through acquisitions and greenfield projects. It outlines CPFL Energia's key business segments including distribution, generation, trading, and services. For each segment, it provides financial highlights for the period of 2010-3Q15 including net revenues, EBITDA, and net income. It also summarizes CPFL Energia's ambitions for future growth across its business segments.
Corporate presentation cpfl energia agosto 2016CPFL RI
1) CPFL Energia is the largest integrated private electricity company in Brazil with a market capitalization of R$23.2 billion. It has operations in distribution, generation, trading, and services.
2) In late 2016, State Grid of China proposed to acquire a 23% stake in CPFL Energia for R$25 per share, valuing the company at R$23.2 billion. The transaction is pending regulatory approval.
3) CPFL Energia's distribution segment serves over 7.8 million customers across 8 subsidiaries, covering 561 municipalities with a market share of 12.2%. The acquisition of AES Sul would expand its distribution footprint significantly.
Corporate Presentation CPFL Energia - Março 2016CPFL RI
1) CPFL Energia is the largest integrated private electricity company in Brazil. It has leadership positions in distribution, renewable generation, and trading.
2) In 2015, CPFL Energia had R$3.9 billion in EBITDA and R$1.1 billion in net income. It has over 3,100 MW of installed generation capacity, of which 94% is renewable.
3) CPFL Energia's strategy is to maintain leadership in its core businesses through operational efficiency, strategic growth opportunities, and acting to ensure regulatory and institutional sustainability in the sector.
The document discusses key recent events and challenges facing the electric power industry in Brazil, including a 20.2% tariff cut, canceled auctions, and deteriorating hydrologic conditions. It outlines CPFL Energia's agenda for addressing issues like the risk of rationing in 2015, cash flow issues for distributors, and improving sector attractiveness. The document also provides an overview of CPFL Energia and its strategic focus on distribution, renewable generation, and high-value services.
Keppel's CEO Mr Loh Chin Hua presented at the Annual General Meeting on 23 April 2021. He summarized the company's financial performance in 2020, with a net loss of S$(506) million mainly due to impairments in the O&M business. However, recurring income was S$220 million and free cash inflow was S$497 million. The CEO also provided updates on Keppel's strategic business segments and their order books, projects, and financial results. He outlined Keppel's Vision 2030 to transform into an integrated business providing sustainable urbanization solutions.
This document provides an overview and discussion of Advanced Emissions Solutions' 2015 financial results and strategic priorities. Key points include: revenues increased due to completing emissions control equipment contracts; earnings from the refined coal segment were lower due to capital expenditures to expand operations; and a strategic review is underway to explore options for the emissions control segment while aggressively executing on cost containment initiatives. The company aims to substantially reduce costs while building momentum in attracting new tax equity investors for refined coal facilities.
This document provides an overview and discussion of Advanced Emissions Solutions' 2015 financial results and strategic priorities. Key points include: revenues increased due to completing emissions control equipment contracts; earnings from the refined coal segment were lower due to capital expenditures to expand operations; and a strategic review is underway to explore options for the emissions control segment while aggressively executing on cost containment initiatives. The company aims to substantially progress in attracting new tax equity investors for refined coal facilities by the end of 2016.
Broadwind Energy presented an investor presentation covering their industry and financial performance. Key highlights included a strong backlog of $228M at Q3 2014 with 2015 tower production capacity nearly sold out. Broadwind has diversified into industrial markets representing half of sales in 3-5 years. Challenges in Q3 2014 from a new tower design were addressed and financial results are expected to improve in 2014 over 2013, supported by solid order backlogs.
Keppel Corporation Annual General Meeting CEO Presentation SlidesKeppelCorporation
Keppel Corporation's CEO, Mr Loh Chin Hua, presented at the company's Annual General Meeting on 23 April 2021. The presentation provided an overview of Keppel's financial performance in 2020, business segment updates, and key questions from shareholders. Specifically:
- Keppel reported a net loss of S$506 million for FY2020 mainly due to impairments, but revenue was S$6.6 billion.
- Keppel O&M recorded a large net loss of S$1.194 billion mainly from impairments and COVID-19 impacts.
- Keppel is transforming its business segments in line with Vision 2030 to become more integrated and sustainable.
-
Webcast Presentation CPFL Energia_2Q13_finalCPFL RI
- Total energy sales outside of the Group were up 7.7% and energy sales within the concession area were up 2.6% in 2Q13. EBITDA increased 15.8% to R$248.9 million due to commercialization and services as well as conventional generation, partially offset by regulatory and non-recurring items. Net income decreased 29% to R$163 million due to financial results and regulatory and non-recurring effects. CPFL Energia continues expanding into new regions with 632 new housing developments in 1H13 and received various awards for excellence.
1) CPFL Energia is the largest integrated private electricity company in Brazil with a market cap of R$27.5 billion. It has leadership positions in distribution, generation from renewable sources, and energy trading and services.
2) The company has 9 distribution subsidiaries serving over 9 million customers. Its generation portfolio has 3,283 MW of installed capacity, 95% from renewable sources.
3) For the last 12 months (LTM) as of 3Q17, CPFL Energia reported EBITDA of R$4.5 billion and net income of R$883 million. The company aims to increase operational efficiency through technology and pursue strategic growth opportunities.
The document provides a summary of CPFL Energia's 3Q17 results. Some key highlights include:
- Net operating revenue increased 62.7% and EBITDA increased 13.8% compared to 3Q16.
- Investments totaled R$544 million in the quarter. Net debt was R$13.7 billion with leverage of 3.24x.
- Energy sales increased 18.4% compared to 3Q16, driven in part by the acquisition of RGE Sul. Excluding RGE Sul, sales increased 3.2% in the concession area.
- EBITDA growth was driven by higher sales from the distribution business including RGE Sul, as well as the start
Kengen is a Kenyan power company that aims to generate 3,000MW of power by 2018 (Horizon II of its "Good to Great" plan). As of 2015, installed capacity was 1,537MW, making the Horizon II target unlikely. Kengen plans to raise capital through a rights issue and debt conversion to equity to fund projects that could add 1,000MW by 2018. However, the company has high capital expenditures, accounting policies that boost profits, and is expected to have slowing growth. The analyst recommends selling the stock, as its ambitious expansion plans threaten cash flows and it is unlikely to deliver long-term value.
The document summarizes the financial challenges facing Asheville due to increasing expenditures outpacing revenue growth. Proposed state legislation would further widen Asheville's budget gap by an estimated $11.7 million over two years requiring significant service cuts or tax increases. Staff recommends delaying the budget schedule to gain more clarity on the financial impact and seek additional council direction on balancing strategies.
Keppel Corporation provided a business update for 3Q and 9M 2020. Key points include:
- Keppel identified $17.5 billion in assets that can potentially be monetized to fund growth initiatives, with plans to unlock $3-5 billion over the next 3 years.
- Revenue declined 10% for 9M 2020 due to impacts of COVID-19, though most business units were profitable in 3Q 2020.
- Keppel O&M remained loss-making for 3Q 2020 due to industry challenges from the pandemic, but secured new contracts totaling $900 million year-to-date, mainly in offshore wind and LNG projects.
- Home sales picked up in Singapore
1) Keppel's 1Q 2020 net profit was down 21% to S$160 million due to the impact of COVID-19, with revenue up 21% to S$1.857 billion.
2) Key highlights included Infrastructure contributing S$174 million in net profit, while Offshore & Marine and Investments saw losses.
3) The group has a strong balance sheet with a net gearing ratio of 0.88x and free cash inflow of S$37 million in 1Q 2020.
- Keppel Corporation is transforming to provide solutions for sustainable urbanization through its offshore and marine, property, infrastructure, and asset management businesses.
- It is meeting growing needs for energy, infrastructure, homes, offices, clean environments, and connectivity.
- Keppel aims to create and capture value through its business model of developing assets, operating and maintaining them, and eventually stabilizing and monetizing them through REITs and trusts.
Corporate Presentation CPFL Energia - May 2017CPFL RI
This document provides an overview of CPFL Energia, including:
1) CPFL Energia is the largest integrated private electricity company in Brazil with a market cap of R$26.5 billion and presence in distribution, generation, renewable energy and services.
2) In the last 12 months, CPFL Energia achieved an EBITDA of R$4,287 million and net income of R$879 million.
3) CPFL Energia has 9 distribution subsidiaries serving 9.3 million customers, 3,258 MW of installed generation capacity of which 94% is renewable, and is a leader in value-added energy services in Brazil.
- Duke Energy reported ongoing diluted EPS of $0.25 for the second quarter of 2007, up from $0.24 in the second quarter of 2006. Special items reduced EPS by $0.01 in 2007.
- Improved results from the FE&G, Commercial Power, and International segments contributed to the EPS growth, offset by lower results from Crescent Resources.
- Duke Energy expects to exceed its 2007 employee incentive target of $1.15 in ongoing diluted EPS for the full year.
Power distribution tariff in india 2016 discom wise and consumer wise compre...Sakshi Saini
By meticulously examining the regulation, the latest trends governing the key fuel resources and deeply analysing the possible impacts on all the stakeholders, enincon llp attempts to blend the factual power tariff data and present a dossier which would enable clients with reliable insights and better understanding of the power tariff dynamics in the country.
Corporate Presentantion CPFL Energia June 2015CPFL RI
This document provides an overview of CPFL Energia's history and operations from 1997 to 2015. It discusses CPFL Energia's expansion through acquisitions and greenfield projects in distribution, generation, and renewable energy. It also summarizes the company's financial performance over time and highlights its ambitions going forward to maintain leadership in operating efficiency across its business segments.
Corporate Presentation - CPFL Energia - Outubro/2014CPFL RI
This document provides an overview of CPFL Energia, a Brazilian electricity company. It discusses the company's operations in distribution, generation, competitive power supply and services. In distribution, CPFL Energia has a 13% market share in Brazil through 8 distribution companies serving 7.5 million customers. In generation, it has over 1 GW of installed capacity from hydroelectric and thermal power plants. It also has a leading position in renewable energy in Brazil with over 1 GW of installed capacity from hydro and wind power. The document reviews the company's financial performance and growth strategies across its business segments.
This document provides a summary of CPFL Energia's business for 3Q15. It discusses CPFL Energia's history of expansion since privatization in 1998 through acquisitions and greenfield projects. It outlines CPFL Energia's key business segments including distribution, generation, trading, and services. For each segment, it provides financial highlights for the period of 2010-3Q15 including net revenues, EBITDA, and net income. It also summarizes CPFL Energia's ambitions for future growth across its business segments.
Corporate presentation cpfl energia agosto 2016CPFL RI
1) CPFL Energia is the largest integrated private electricity company in Brazil with a market capitalization of R$23.2 billion. It has operations in distribution, generation, trading, and services.
2) In late 2016, State Grid of China proposed to acquire a 23% stake in CPFL Energia for R$25 per share, valuing the company at R$23.2 billion. The transaction is pending regulatory approval.
3) CPFL Energia's distribution segment serves over 7.8 million customers across 8 subsidiaries, covering 561 municipalities with a market share of 12.2%. The acquisition of AES Sul would expand its distribution footprint significantly.
Corporate Presentation CPFL Energia - Março 2016CPFL RI
1) CPFL Energia is the largest integrated private electricity company in Brazil. It has leadership positions in distribution, renewable generation, and trading.
2) In 2015, CPFL Energia had R$3.9 billion in EBITDA and R$1.1 billion in net income. It has over 3,100 MW of installed generation capacity, of which 94% is renewable.
3) CPFL Energia's strategy is to maintain leadership in its core businesses through operational efficiency, strategic growth opportunities, and acting to ensure regulatory and institutional sustainability in the sector.
The document discusses key recent events and challenges facing the electric power industry in Brazil, including a 20.2% tariff cut, canceled auctions, and deteriorating hydrologic conditions. It outlines CPFL Energia's agenda for addressing issues like the risk of rationing in 2015, cash flow issues for distributors, and improving sector attractiveness. The document also provides an overview of CPFL Energia and its strategic focus on distribution, renewable generation, and high-value services.
Keppel's CEO Mr Loh Chin Hua presented at the Annual General Meeting on 23 April 2021. He summarized the company's financial performance in 2020, with a net loss of S$(506) million mainly due to impairments in the O&M business. However, recurring income was S$220 million and free cash inflow was S$497 million. The CEO also provided updates on Keppel's strategic business segments and their order books, projects, and financial results. He outlined Keppel's Vision 2030 to transform into an integrated business providing sustainable urbanization solutions.
This document provides an overview and discussion of Advanced Emissions Solutions' 2015 financial results and strategic priorities. Key points include: revenues increased due to completing emissions control equipment contracts; earnings from the refined coal segment were lower due to capital expenditures to expand operations; and a strategic review is underway to explore options for the emissions control segment while aggressively executing on cost containment initiatives. The company aims to substantially reduce costs while building momentum in attracting new tax equity investors for refined coal facilities.
This document provides an overview and discussion of Advanced Emissions Solutions' 2015 financial results and strategic priorities. Key points include: revenues increased due to completing emissions control equipment contracts; earnings from the refined coal segment were lower due to capital expenditures to expand operations; and a strategic review is underway to explore options for the emissions control segment while aggressively executing on cost containment initiatives. The company aims to substantially progress in attracting new tax equity investors for refined coal facilities by the end of 2016.
Broadwind Energy presented an investor presentation covering their industry and financial performance. Key highlights included a strong backlog of $228M at Q3 2014 with 2015 tower production capacity nearly sold out. Broadwind has diversified into industrial markets representing half of sales in 3-5 years. Challenges in Q3 2014 from a new tower design were addressed and financial results are expected to improve in 2014 over 2013, supported by solid order backlogs.
Equity Market Reactions based on Company’s Financial StrategiesRUPANJAN NAYAK
Equity Market Reactions based on Company’s Financial Strategies on a POWER UTILITY COMPANY: CESC PVT LTD.
1. Contains equity stock market reactions based on company financial restructuring strategies like: following a lean business model, layoff and retrenchments, going full digital from offline business model etc.
2. The impact on the shareholders due to diversification.
3. Impact on the shareholders due to company strategic restructuring.
Aegis Growth Conference Investor Presentation October 2015broadwind
The document provides an overview of Broadwind Energy Inc. and discusses its business segments, financial performance, and outlook. It notes that Broadwind obtained industry data from third party sources and its forecasts are subject to risks and uncertainties. It summarizes Broadwind's tower, gearing, and services segments and discusses recent financial results, backlog, liquidity, and strategic plans to improve operations and divest the unprofitable services business.
The document is an investor presentation by SolarCity that provides forward-looking statements regarding the company's growth opportunities in the customer and market, operations, financing strategies, and future financial and operating results. It notes key risks and uncertainties that could impact actual performance, including demand for solar energy systems, supply and pricing of solar components, integration of acquisitions, cost reduction goals, access to capital, regulatory policies, and general market conditions.
Newsletter by E-Cube Energy with focus on India and Energy Efficiency. In this edition we cover an interesting mix of topics from policy issues around PAT Scheme to use of Data Analytics to foster energy efficiency.
The document discusses India's policies and frameworks for promoting renewable energy. It outlines India's renewable energy targets of installing 175 GW of renewable energy capacity by 2022, including 100 GW of solar and 60 GW of wind. It describes the key bodies involved in renewable energy development and various financial incentives available, such as feed-in tariffs, renewable purchase obligations, and renewable energy certificates. It also summarizes the Electricity Act of 2003, National Electricity Policy, and draft renewable energy policies and frameworks in India aimed at promoting renewable energy growth.
The document summarizes the key points from the Union Budget 2014-15 of India. Some of the major reforms and policy proposals included fiscal consolidation to reduce the fiscal deficit to 3.6% by 2015-16, overhauling subsidies, measures to boost investment and manufacturing, and tax reforms like increased income tax exemption limits and changes to the taxation of business trusts. Infrastructure development, increasing FDI limits in certain sectors, and using asset sales to raise capital for banks and PSUs were also highlighted.
The document outlines several policy reforms across key sectors in India to promote growth and investment. Some key reforms mentioned include fast tracking investment clearances, introducing commercial coal mining, liberalizing the defence manufacturing sector, increasing private participation in space activities, revamping the viability gap funding scheme, and establishing public-private partnerships in the atomic energy sector. The overall goal is to reduce imports, enhance self-reliance, boost private investment, and promote growth across priority sectors in support of an Aatmanirbhar Bharat or self-reliant India.
This presentation provides an overview of Advanced Emissions Solutions, Inc. It discusses the company's transformation from focusing on refined coal and equipment sales to developing recurring revenue streams from emissions control technologies. The presentation highlights that the company expects to generate $50-60 million annually in stable cash flows from its refined coal business through 2021. It also discusses opportunities to commercialize emissions control intellectual property and generate incremental cash flows. The presentation provides an overview of the refined coal and emissions control markets and outlines the company's strategic priorities for 2017.
Sidoti investor presentation 3.27.17 final (2)ADAESIR
This presentation provides an overview of Advanced Emissions Solutions, Inc. It discusses AESI's transformation from focusing on refined coal and equipment sales to developing recurring revenue streams from emissions control technologies. AESI owns 42.5% of Tinuum Group, which develops refined coal facilities. Tinuum is expected to generate $275-300M in cash flows for AESI through 2021. AESI is also commercializing emissions control chemicals that could become a $100M annual market. AESI aims to return capital to shareholders through dividends and potentially share buybacks, while evaluating opportunities to further monetize intellectual property and pursue acquisitions to grow in the $300-500M emissions control market.
The document provides an overview of Advanced Emissions Solutions, Inc., which focuses on clean coal technology and specialty chemicals. It summarizes the company's refined coal business, including its ownership in Clean Coal Solutions and Clean Coal Solutions Services. The refined coal facilities produce cleaner burning coal through proprietary additives and generate tax credits for investors through 2021. The facilities also provide emissions reductions for utility partners. Advanced Emissions expects to continue leasing or selling refined coal facilities and receiving rental income through 2021.
This document summarizes Vietnam's green growth policies and initiatives, with a focus on renewable energy development. It outlines Vietnam's national green growth strategy and action plan, as well as support mechanisms introduced for waste-to-energy and biomass power. Specific recommendations are provided to further promote renewable energy, including implementing tax incentives for solar energy, allowing energy service companies, setting a higher wind power feed-in tariff, providing standard power purchase agreements, and developing pre-packaged wind power projects.
REPORTING ON STRUCK DOWN COMPANIES REVIVED BY NCLTjayjani123
Reporting on Struck Down Companies Revived by NCLT." The National Company Law Tribunal (NCLT) has been playing a crucial role in the resurrection of companies that were previously struck down due to financial distress or other reasons.
So, let's dive into the world of struck down companies and their resurrection through the NCLT.
The document outlines several policy reforms in India to promote growth initiatives and attract more investment as part of efforts towards an Atmanirbhar Bharat or self-reliant India. It discusses reforms in sectors like coal, minerals, defence production, civil aviation, power distribution, social infrastructure, space activities and atomic energy. Key reforms include introducing commercial coal mining, liberalizing the defence manufacturing sector, privatizing power distribution in union territories, enhancing private participation in infrastructure through viability gap funding, and allowing greater private sector involvement in space activities and atomic energy projects. The overall goal is to boost investment, reduce imports, increase self-reliance, and promote growth across critical sectors.
RBSA-Budget-Finance Bill 2023-Key Proposals.pdfRBSA Advisors
Keeping a people-centric approach, various amendments in individual tax provisions and amendments providing benefits under the new tax-rate regime is a welcome move.
This report discusses the current business and regulatory environment that is resulting in the increased use of innovative ratemaking techniques, including the consideration by some utilities and jurisdictions of a multiyear rate plan (MYRP) filing. It also provides an overview of the different MYRP approaches being utilized, including case studies in selected states and key takeaways from each approach, and summarizes future trends regarding the use of MYRP filings.
The document provides an overview and financial review of AES Corporation's second quarter 2014 results. Some key points:
- Adjusted EPS for Q2 2014 was $0.28, achieving $2 billion in asset sale proceeds a year early.
- Construction is underway on over 4,500 MW of new capacity projects and 2,400 MW of environmental upgrades by 2018.
- Partnerships are expanding access to capital while leveraging existing platforms drives growth.
- Cost reduction initiatives are on track to lower global overhead expenses by $200 million by 2015.
- 2014 guidance is reaffirmed despite some impacts from dry hydrology conditions.
CA Varun Sethi - ICAI IFRS training - IAS 17 & IAS 23 - Oct 2015Varun Sethi
Presentation by CA Varun Sethi at ICAI certificate course on IFRS/ IndAS - 2015
Covered
IAS 17/ IndAS 17 / IFRIC 4 - Leases and Embedded Leases
IAS 23/ IndAS 23 - Borrowing costs
Contains
1. Comparison with ICDS, AS, IAS
2. Updates from IASB - New standard on leases
3. Industry/ sector relevant practical questions, problems and solutions including first time adoption issues etc
Contains the India/ US/ IFRS financial reporting framework for various sectors/ entities for Lease transactions and borrowing costs.
CA Varun Sethi - ICAI IFRS training - IAS 17 & IAS 23 - Oct 2015Varun Sethi
This document provides information about an upcoming ICAI Certificate course on IFRS/IndAS accounting for leases and borrowing costs to be presented by CA Varun Sethi in October 2015. It includes contact details for CA Varun Sethi as the course faculty. The document then provides an outline of the topics to be covered, including the global accounting framework, sectors impacted, and accounting treatment for lessees, lessors, borrowers, and examples of sector-specific reporting and accounting.
CA Varun Sethi - ICAI IFRS training - IAS 17 & IAS 23 - Oct 2015Varun Sethi
Presentation by CA Varun Sethi at ICAI certificate course on IFRS/ IndAS - 2015
Covered
IAS 17/ IndAS 17 / IFRIC 4 - Leases and Embedded Leases
IAS 23/ IndAS 23 - Borrowing costs
Contains
1. Comparison with ICDS, AS, IAS
2. Updates from IASB - New standard on leases
3. Industry/ sector relevant practical questions, problems and solutions including first time adoption issues etc
Contains the India/ US/ IFRS financial reporting framework for various sectors/ entities for Lease transactions and borrowing costs.
CA Varun Sethi - IFRS trainings - IFRIC 12 - Accounting for service concessi...Varun Sethi
Presentation by CA Varun Sethi
The Presentation discusses the accounting framework for accounting by Grantors and Operators. Covered in detail is the IFRIC 12 - Accounting by Operators/ Concessionaires for Service concession arrangements (SCA).
The presentation also helps the reader understand the technical differences between leases- IAS 17/IFRIC 4/ SCA etc and suggests the appropriate accounting in case of BOT, BOO, ROT, Lease, 100% Divestment cases.
Industries Impacted
1. Non Utility generators - Solar and Wind companies/ Gencos
2. Infrastructure Companies - Toll Road, Seaport, Airport operators.
3. EPC (Engineering, procurement and Construction) companies.
4. Turnkey projects installation cos
CA Varun Sethi - IFRS trainings - IFRIC 12 - Accounting for service concessi...Varun Sethi
Presentation by CA Varun Sethi
The Presentation discusses the accounting framework for accounting by Grantors and Operators. Covered in detail is the IFRIC 12 - Accounting by Operators/ Concessionaires for Service concession arrangements (SCA).
The presentation also helps the reader understand the technical differences between leases- IAS 17/IFRIC 4/ SCA etc and suggests the appropriate accounting in case of BOT, BOO, ROT, Lease, 100% Divestment cases.
Industries Impacted
1. Non Utility generators - Solar and Wind companies/ Gencos
2. Infrastructure Companies - Toll Road, Seaport, Airport operators.
3. EPC (Engineering, procurement and Construction) companies.
4. Turnkey projects installation cos
CA Varun Sethi - IFRS trainings - IFRIC 12 - Accounting for service concessi...Varun Sethi
Presentation by CA Varun Sethi
The Presentation discusses the accounting framework for accounting by Grantors and Operators. Covered in detail is the IFRIC 12 - Accounting by Operators/ Concessionaires for Service concession arrangements (SCA).
The presentation also helps the reader understand the technical differences between leases- IAS 17/IFRIC 4/ SCA etc and suggests the appropriate accounting in case of BOT, BOO, ROT, Lease, 100% Divestment cases.
Industries Impacted
1. Non Utility generators - Solar and Wind companies/ Gencos
2. Infrastructure Companies - Toll Road, Seaport, Airport operators.
3. EPC (Engineering, procurement and Construction) companies.
4. Turnkey projects installation cos
CA Varun Sethi IndAS 115 - Revenue from contracts with customers - sale or ...Varun Sethi
CA Varun Sethi IndAS 115 - Revenue from contracts with customers - sale or return: Indian Financial Reporting
India has decided to converge EARLY with IFRS 15 - Revenue from Contracts with Customers. Accordingly, MCA hasn't notified any IndAS 11 and IndAS 18 which are converged to IAS 18 on Revenue recognition.
Ind AS 115 (converged with IFRS 15) - Revenue from Contracts with Customers deals with reveue recognition.
Accounting Standard (AS) 9 - Revenue Recognition prescribes accounting for revenue.
The presentations deals specifically with the accounting for Revenue for sale of goods with right of return. It compares the accounting under IAS 18 with IFRS 15/ IndAS 115 with example and summarizes the net impact.
Sector impacted:
1. FMCD/FMCG companies,
2. B2B/ B2C Businesses
3. Ecommerce/ Distributor/retail & consumer companies
with 'No questions asked return/refund policies'
Indian Financial Reporting series:
Presentation by CA Varun Sethi at ICAI certificate course on IFRS/ IndAS - 2015
Covered IFRS 1/ IndAS 101, IAS/ IndAS 1, 7, 8, 10.
Contains
1. Comparison to ICDS, AS, IAS and references to Companies Act, 2013, SEBI regulations
2. Updates from IASB - Disclosure initiative on IAS 7
3. Practical questions, problems and solutions by regulators, FRRB, practices as evolved etc
Indian Financial Reporting series:
Presentation by CA Varun Sethi at ICAI certificate course on IFRS/ IndAS - 2015
Covered IFRS 1/ IndAS 101, IAS/ IndAS 1, 7, 8, 10.
Contains
1. Comparison to ICDS, AS, IAS and references to Companies Act, 2013, SEBI regulations
2. Updates from IASB - Disclosure initiative on IAS 7
3. Practical questions, problems and solutions by regulators, FRRB, practices as evolved etc
CA Varun Sethi IndAS 115 - Revenue from contracts with customers - sale or ...Varun Sethi
CA Varun Sethi IndAS 115 - Revenue from contracts with customers - sale or return: Indian Financial Reporting
India has decided to converge EARLY with IFRS 15 - Revenue from Contracts with Customers. Accordingly, MCA hasn't notified any IndAS 11 and IndAS 18 which are converged to IAS 18 on Revenue recognition.
Ind AS 115 (converged with IFRS 15) - Revenue from Contracts with Customers deals with reveue recognition.
Accounting Standard (AS) 9 - Revenue Recognition prescribes accounting for revenue.
The presentations deals specifically with the accounting for Revenue for sale of goods with right of return. It compares the accounting under IAS 18 with IFRS 15/ IndAS 115 with example and summarizes the net impact.
Sector impacted:
1. FMCD/FMCG companies,
2. B2B/ B2C Businesses
3. Ecommerce/ Distributor/retail & consumer companies
with 'No questions asked return/refund policies'
CA Varun Sethi Ind AS 20 - Accounting for Government GrantsVarun Sethi
This document discusses IndAS 20, which provides guidance on accounting for government grants and disclosure of government assistance. It begins with definitions of key terms like government, government assistance, and government grants. It then explains the two approaches to accounting for grants - the capital approach for asset-related grants and the income approach for other grants. It provides guidance on recognition, measurement, presentation, and disclosure of government grants under the income and capital approaches in the financial statements. Specific topics covered include accounting for non-monetary grants, forgivable loans, repayment of grants and presentation in statements of profit and loss, balance sheet and cash flows.
CA Varun Sethi Ind AS 20 - Accounting for Government GrantsVarun Sethi
This document discusses IndAS 20, which provides guidance on accounting for government grants and disclosure of government assistance. It begins with definitions of key terms like government, government assistance, and government grants. It then explains the two approaches to accounting for grants - the capital approach for asset-related grants and the income approach for other grants. It provides guidance on recognition, measurement, presentation, and disclosure of government grants under the income and capital approaches in the financial statements. Specific topics covered include accounting for non-monetary grants, forgivable loans, repayment of grants and presentation in statements of profit and loss, balance sheet and cash flows.
India Renewables-Eligible Overseas Capital Markets CandidateVarun Sethi
A silent (so far) revolution has been pioneered for Indian renewable companies (RC) which is no less than the fad and hype of the technology sector. RCs need to explore sustainable renewable energy finance with IPOs, innovative structures like Yield Cos (Utility and commercial scale plants) as also investment plans (for residential solar - My power loans)
The presentation essentially summarizes the renewables eco system in India, global solar experiences (US), IFRS/ US GAAP A/C issues for renewables sector, future of solar n grid parity, US IPO concepts n regulatory environment.
CA Varun Sethi IndAS 102 - Share based payments - Accounting for modificati...Varun Sethi
Presentation by CA Varun Sethi
The presentation summarizes through FlowBoxes the Accounting for Share based payments IndAS 102/ IFRS 2-
1. Accounting for modification or settlements of SBP and
2. SBP among group employees
CA Varun Sethi IndAS 21 - The effects of changes in foreign exchange ratesVarun Sethi
Presentation by CA Varun Sethi:
Explains through flowboxes - IndAS 21/ IAS 21 - The effects of changes in foreign exchange rates - especially
1. Accounting for Foreign Currency transactions and
2. Accounting for ‘Exchange differences’ on Foreign Currency transactions
3. Foreign currency translations for consolidation procedures (translation of account balances into reporting / presentation currency)
CA Varun Sethi IndAS 113 - Fair Value MeasurementsVarun Sethi
Presentation by CA Varun Sethi:
Explains through flowboxes - IndAS 113 - Fair Value Measurements:
1. Scope & Key Concepts
2. Fair Value definition
3. Fair Value framework
4. Fair Value Hierarchy
CA Varun Sethi - IndAS 113 - Fair Value MeasurementsVarun Sethi
Presentation by CA Varun Sethi:
Explains through flowboxes - IndAS 113 - Fair Value Measurements:
1. Scope & Key Concepts
2. Fair Value definition
3. Fair Value framework
4. Fair Value Hierarchy
CA Varun Sethi Ind AS 21 - The effects of changes in foreign exchange ratesVarun Sethi
Presentation by CA Varun Sethi:
Explains through flowboxes - IndAS 21/ IAS 21 - The effects of changes in foreign exchange rates - especially
1. Accounting for Foreign Currency transactions and
2. Accounting for ‘Exchange differences’ on Foreign Currency transactions
3. Foreign currency translations for consolidation procedures (translation of account balances into reporting / presentation currency)
CA Varun Sethi - IndAS 102 - IFRS 2 - Share based payments - Accounting for M...Varun Sethi
Presentation by CA Varun Sethi :
Explains through flowboxes - IndAS 102 - IFRS 2 - Share based payments - especially
1. Accounting for modification or settlements of SBP and
2. SBP among group employees
CA Varun Sethi - IndAS 102 - IFRS 2 - Share based payments - Accounting for ...Varun Sethi
Explains through flowboxes - IndAS 102 - IFRS 2 - Share based payments - especially
1. Accounting for modification or settlements of SBP and
2. SBP among group employees
STREETONOMICS: Exploring the Uncharted Territories of Informal Markets throug...sameer shah
Delve into the world of STREETONOMICS, where a team of 7 enthusiasts embarks on a journey to understand unorganized markets. By engaging with a coffee street vendor and crafting questionnaires, this project uncovers valuable insights into consumer behavior and market dynamics in informal settings."
Lecture slide titled Fraud Risk Mitigation, Webinar Lecture Delivered at the Society for West African Internal Audit Practitioners (SWAIAP) on Wednesday, November 8, 2023.
The Rise of Generative AI in Finance: Reshaping the Industry with Synthetic DataChampak Jhagmag
In this presentation, we will explore the rise of generative AI in finance and its potential to reshape the industry. We will discuss how generative AI can be used to develop new products, combat fraud, and revolutionize risk management. Finally, we will address some of the ethical considerations and challenges associated with this powerful technology.
2. Elemental Economics - Mineral demand.pdfNeal Brewster
After this second you should be able to: Explain the main determinants of demand for any mineral product, and their relative importance; recognise and explain how demand for any product is likely to change with economic activity; recognise and explain the roles of technology and relative prices in influencing demand; be able to explain the differences between the rates of growth of demand for different products.
Abhay Bhutada Leads Poonawalla Fincorp To Record Low NPA And Unprecedented Gr...Vighnesh Shashtri
Under the leadership of Abhay Bhutada, Poonawalla Fincorp has achieved record-low Non-Performing Assets (NPA) and witnessed unprecedented growth. Bhutada's strategic vision and effective management have significantly enhanced the company's financial health, showcasing a robust performance in the financial sector. This achievement underscores the company's resilience and ability to thrive in a competitive market, setting a new benchmark for operational excellence in the industry.
Vicinity Jobs’ data includes more than three million 2023 OJPs and thousands of skills. Most skills appear in less than 0.02% of job postings, so most postings rely on a small subset of commonly used terms, like teamwork.
Laura Adkins-Hackett, Economist, LMIC, and Sukriti Trehan, Data Scientist, LMIC, presented their research exploring trends in the skills listed in OJPs to develop a deeper understanding of in-demand skills. This research project uses pointwise mutual information and other methods to extract more information about common skills from the relationships between skills, occupations and regions.
Solution Manual For Financial Accounting, 8th Canadian Edition 2024, by Libby...Donc Test
Solution Manual For Financial Accounting, 8th Canadian Edition 2024, by Libby, Hodge, Verified Chapters 1 - 13, Complete Newest Version Solution Manual For Financial Accounting, 8th Canadian Edition by Libby, Hodge, Verified Chapters 1 - 13, Complete Newest Version Solution Manual For Financial Accounting 8th Canadian Edition Pdf Chapters Download Stuvia Solution Manual For Financial Accounting 8th Canadian Edition Ebook Download Stuvia Solution Manual For Financial Accounting 8th Canadian Edition Pdf Solution Manual For Financial Accounting 8th Canadian Edition Pdf Download Stuvia Financial Accounting 8th Canadian Edition Pdf Chapters Download Stuvia Financial Accounting 8th Canadian Edition Ebook Download Stuvia Financial Accounting 8th Canadian Edition Pdf Financial Accounting 8th Canadian Edition Pdf Download Stuvia
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
4. CAVarun Sethi
[CA, B.Com(H), CISA]
Key Skill Sets
1. Financial reporting under IFRS/US
GAAP and India GAAP.
2. End to end life cycle management
of several
• M&A deals and
• fund raising (IPO, and PE),
• Project finance deals
in sectors especially real estate, e-
commerce/retail and FMCG.
3. Design and reviews of financial
models, business plans, annual
operating plans.
4. GL management,Internal and
External audits, Process and risk
management,banking and taxes.
Expertise in
Presentation for XYZ Power : CA Varun Sethi Private and Confidential
5.
6. CAVarun
Sethi
09899766487
Solar Industry – The Business models
(Utilities/ IPP/NUG)
20156
Upstream
segment
•R&D
•Manufacturing of Solar Cells, Modules and Panels
Midstream
segment
• Racking and
• Hardware
• Inverters/ Batteries/ Storage systems
Downstream
segment
•End to end Installation - Utility/Commercial/
Rooftop customers
•Ownership,of Solar Energy Systems
•Operations and maintenance
1. Yingli Solar
2. First Solar
3. Trina Solar
4. SunEdison
5. SunPower
1. Enphase Energy
2. NRG Energy
3. Exide and SuKam
1. Solar City
2. Vivint Solar
3. XYZ Power
4. RenewPower
5. InoxWinds
BUSINESS MODEL
GLOBAL AND INDIAN
PLAYERS
Presentation for XYZ Power : CA Varun Sethi Private and Confidential
7. CAVarun
Sethi
09899766487
Solar (Power) Industry –The Indian Ecosystem
20157
Indian Solar
(Power) Industry
Ecosystem
(Utilities/NUG/IPP)
MNRE
Electricity Act,
2003Regulators:
CERC/ SERC
Energy Exchanges
(IEX, PEI)
RPO/REC
Renewable
EnergyAct, 2015
National Power Grid
(PGCIL)
Regulators:
DIPP, RBI, CCI
Presentation for XYZ Power : CA Varun Sethi Private and Confidential
8.
9. CAVarun
Sethi
09899766487
Indian Solar (Renewables) Industry
Regulation and Policy
Investment and other subsidies
Foreign Direct Investment (‘FDI’)
Foreign Equity
• India permits FDI up to 100 percent in the sector under the automatic route in Renewable Energy
Generation and Distribution projects that are subject to the provisions of the Electricity Act of 2003.
• Under the Act, no prior approval of regulatory authorities is required.
External Commercial Borrowings/Medium term Notes/ FCCBs
• RBI has expanded the definition of infrastructure to cover sector such as Energy which in turn covers
sub-sectors such as Electricity generation/transmission/distribution,Oil pipelines,Oil/Gas/Liquefied
Natural Gas (LNG) storage facilities,Gas Pipelines (includes city gas distribution network).
• With a view to strengthen the flow of resources to infrastructure sector, RBI has also now permitted
raising ECB for project use in SPVs in the infrastructure sector under the automatic route/approval
route, as the case may be.
20159
Presentation for XYZ Power : CA Varun Sethi Private and Confidential
10. CAVarun
Sethi
09899766487
Indian Solar (Renewables) Industry
Regulation and Policy
Under Indian Income tax Act, 1961 : Tax holiday under the domestic income tax law
• Undertakings engaged in the generation and/or distribution of power has been offered a 10-year tax
holiday for renewable energy plants if power generation begins before 31 March 2014.This date has not
been extended as there was a vote on account budget.
• However,the plants have to pay a minimum alternative tax at the rate of approximately 20 to 21
percent (based on the income),which can be offset in future years (6/10 years).
201510
Presentation for XYZ Power : CA Varun Sethi Private and Confidential
Operating subsidies
Feed-in tariff
Generation Based Incentives (GBI)
To attract foreign investors,the government has taken several initiatives such as introducing GBI schemes
to promote projects under Independent Power Producers (IPP) mode for wind and solar power.
Accelerated depreciation
Under the domestic income-tax law, companies involved in renewable energy such as solar and wind was
provided with accelerated depreciation at 80 percent. However, the government has restricted the
accelerated depreciation of 80 percent to windmills installed on or before 31 March 2012.
11. CAVarun
Sethi
09899766487
Indian Solar (Renewables) Industry
Regulation and Policy
Jawaharlal Nehru National Solar Mission (JNNSM)
The objective of JNNSM, which was launched in 2010, is to establish India as a global leader in
solar energy and to deploy 100,000 MW of solar power capacity by 2022.
Besides the national program, solar programs at the state level are also driving solar growth in
the country.
201511
Presentation for XYZ Power : CA Varun Sethi Private and Confidential
Quota obligations
Renewable Purchase Obligation (RPO)
The National Action Plan on Climate Change
(NAPCC) has recommended renewable purchase
obligation (RPO) target of 10 per cent by 2015 and
15 per cent by 2020 at the national level.
To meet RPO targets, REC market has been introduced and RECs started trading in Feb 2011.
Enforcement of RPO will create the volumes needed for the REC market.
12. CAVarun
Sethi
09899766487
Indian Solar (Renewables) Industry
Regulation and Policy
Carbon Credits and Clean Development Mechanisms (CDMs)
The Clean Development Mechanism (CDM) is an arrangement under the Kyoto Protocol.The mechanism
allows developed countries with a green house gas (GHG) reduction commitment to invest in projects that
reduce emissions in developing countries as an alternative to more expensive emission reductions in their
own countries.
India is the second largest seller of carbon credits.The country is also a leading destination among non-
Annex 1 countries with regards to CDM implementation. It has the highest rating of any CDM host
country,with 32 percent of the world total of 1,081 projects registered with CDM EB.
201512
Presentation for XYZ Power : CA Varun Sethi Private and Confidential
IndirectTax and fiscal incentives
The Central Government has given various incentives on setting up the renewable energy power project
which includes exemption from customs and excise duties on specific goods required for setting up the
renewable energy projects.
Furthermore,some of the state governments have provided the incentives in the form of aVAT at a
reduced rate (5 percent) whereas the other states levy aVAT of 15 percent.
13. CAVarun
Sethi
09899766487
Indian Solar (Renewables) Industry
Regulation and Policy
Tax planning and structuring
For investors based overseas, an entry strategy for India is highly important.To achieve tax
efficiency with regard to taxability of gains on sale of shares, many companies opt to route the
investments through an intermediate entity in a tax-friendly jurisdiction.
In addition, the renewable energy sector is capital intensive, so investing companies need to
carefully explore the options available for funding their projects and repatriating profits in a
tax-efficient manner.
201513
Presentation for XYZ Power : CA Varun Sethi Private and Confidential
EPC contracts
The procurement of goods and supply chain structuring play a vital role in the solar power
project costs, since the tax rates are different for procurement of goods from outside India,
from other states or from the same state.
Generally, the EPC contractor also undertakes the operation and maintenance of the power
plant.The taxability of an Operation and Management (O&M) contract has been the subject of
disputes in various decisions.
14.
15. CAVarun
Sethi
09899766487
Solar Industry – Unique IFRS Accounting Issues for
Renewable Energy Companies
201515
IFRS A/c for
Unique
Accounting
Issues for
Renewable
Energy
Companies
1. Significant Government Incentives / FIT/RPO/REC
2. Long term contracts for the sale of electricity
3. Viability Gap Funding (VGF)/ Financial closures
4. Long term contracts for the sale of electricity
5. Sale-Leaseback structures – Utility and Non Utility generators
(IPP/NUG)
6. ARO: Obligations to remove plant and equipment at the end of
contract.
Presentation for XYZ Power : CA Varun Sethi Private and Confidential
16. CAVarun
Sethi
09899766487
Understanding and identifying IFRS /US GAAP A/c issues
Effective
Yield / Tax Credit
Accounting
Consolidation
A/c
Equity Method
(ASC 810/ FIN
46R)
FairValue
Accounting
(ASC 825)
LeaseAccounting
Real Estate
Accounting
Numerous
IFRS/ US
GAAPA/c
issues.
16
IFRS /US GAAP A/c for Investor Level GAAP
Accounting
Investor Level GAAP Accounting
1. Variable interest entities.
2. Presentation of non-controlling interest (liability vs.
equity).
3. Equity methodVs. Hypothetical liquidation at book value
(HLBV) methodology
IFRS /US GAAP A/c for Project Level GAAP
Accounting
Project Level GAAP Accounting
1. Project finance structures.
2. Sources of financing (tax equity, RECs, grants, rebates,
sponsor equity, debt, etc.).
3. Investor exit strategies (flip, put, call provisions).
4. Generation based Incentives/ Production based rebates
Presentation for XYZ Power : CA Varun Sethi Private and Confidential
17. CAVarun
Sethi
09899766487
Solar Industry – Revenue Recognition
& other Key Accounting and IFRS considerations
IFRS 15:
Revenue
Recognition
New standard
supersedes the
industry-specific
guidance on long-
term power sales
arrangements in
ASC 980, Regulated
Operations,
’NONUTILITY
POWER
GENERATION
ENTITIES’ will
apply the new
standard to these
arrangements.
1. The Company generates revenue through power purchase agreements,rebate
incentives,solar renewable energy certificates (“SRECs”) sales and solar energy
system sales.
2. The Company sells energy to customers through power purchase agreements or
leases solar energy systems to customers through leases.
3. The Company has determined that these contracts should be accounted for as
operating leases and, accordingly,solar energy systems are stated at cost, less
accumulated depreciation and amortization.
4. The Company considers upfront rebate incentives earned from such systems to
be minimum lease payments which are recognized on a straight-line basis over
the life of the long-term customer contracts
5. The Company applies for and receives SRECs in certain jurisdictions for power
generated by its solar energy systems.The Company typically sells them to other
companies directly, or to brokers,to assist them in meeting their own mandatory
emission reduction or conservation requirements.The Company recognizes
revenue related to the sale of these certificates upon delivery.
201517
Presentation for XYZ Power : CA Varun Sethi Private and Confidential
18. CAVarun
Sethi
09899766487
Solar Industry – Key Accounting and IFRS considerations
IFRS A/c for
Deferred
Financing Costs
Costs incurred in connection with obtaining debt financing are deferred and
amortized utilizing the straight-line method, which approximates the effective-
interest method, over the term of the related financing.
IFRS A/c for
Deferred offering
costs
Deferred offering costs, which consist of direct incremental legal, consulting, banking
and accounting fees relating to the anticipated initial public offering (“IPO”),are
capitalized.The deferred offering costs will be offset against IPO proceeds upon the
consummation of the offering.
IFRS A/c for
Government and
other incentives
IAS 20 :
Deferred revenue includes rebates and incentives received from utility companies and
various government agencies which are recognized as revenue over the related lease
term of 20 years.
201518
IFRS A/c for
Asset
Retirement
Obligations
Asset retirement costs must be capitalized as part of the related property,
plant, or equipment when a liability for an asset retirement obligation is
initially recognized.
IFRS A/c for
Stock-Based
Compensation
Stock-based compensation expense for equity instruments issued to employees is
measured based on the grant-date fair value of the awards.The fair value of each
employee stock option is estimated on the date of grant using the Black-Scholes-
Merton option-pricing valuation model.
Presentation for XYZ Power : CA Varun Sethi Private and Confidential
19.
20. CAVarun
Sethi
09899766487
Solar Industry
Key Operating Metrics and Non-IFRS measures
SolarGridandNonGrid
-
KeyOperatingMetrics • Solar Energy System Installations, incremental and cumulative
Number of solar energy systems installed on customers’ premises/Self owned. as an
indicator of historical growth and as an indicator rate of growth from period to period.
• Megawatts Installed and Cumulative Megawatts Installed
Megawatts installed represents the aggregate megawatt nameplate capacity of solar
energy systems that have been installed during the applicable period.
Cumulative megawatts installed represents the aggregate megawatt nameplate capacity
of solar energy systems that have been installed.
• Estimated Nominal Contracted Payments Remaining
Estimated nominal contracted payments remaining equals the sum of the remaining cash
payments that our customers are expected to pay over the term of their agreements
with us for systems installed as of the measurement date.
• Estimated Retained Value (under energy contract + Renewal)
Estimated retained value represents the net cash flows, discounted at 6%, that we
expect to receive from customers pursuant to long-term customer contracts net of
estimated cash distributions to fund investors and estimated operating expenses for
systems installed as of the measurement date.
201520
Presentation for XYZ Power : CA Varun Sethi Private and Confidential
23. CAVarun
Sethi
09899766487
Solar Industry –The Falling costs – Grid parity
Source:
International Renewable Energy Agency,World Energy Future conference in Abu Dhabi Jan 2015.
Cost of Panels
and Modules
Panels to fall in price to $US0.50/watt
• Companies like SunEdison have publically targeted $0.40 cent per watt panels by the end of
2016, and manyTier 1 Chinese manufacturers are achieving sub $0.50/w already in 2014.
Installation
Costs
Installation costs will fall by one third in the US
• Cost reduction on the installation side will come primarily from scale benefits, and could fall
from $0.65/w to $0.45/w.
Energy storage
costs
Inverter and racking cost are also declining
• Inverter prices typically decline 10-15 per cent per year, Deutsche Bank says, and it expects this
trend to continue into the future.
• Racking and other balance of system costs given ongoing efficiency improvements, streamlining,
and potential advances in materials will lead to incremental improvements, from around $0.25/w
to around $0.17/w.
201523
CAC
Sales/Customer Acquisition Cost will fall even further
• Deutsche Bank sees substantial room for improvement over the longer term in cost per watt
terms – from $0.50/w to $0.20/w – as solar gains mainstream acceptance,
Presentation for XYZ Power : CA Varun Sethi Private and Confidential
24. CAVarun
Sethi
09899766487
Solar Industry –The technology
http://reneweconomy.com.au/2015/graph-day-plunging-cost-renewables-49704
201524
Presentation for XYZ Power : CA Varun Sethi Private and Confidential
25. CAVarun
Sethi
09899766487
Solar Industry – Global Experiences and Learnings
United States of America
Rooftop Solar
Energy:
American view
1. According to the Solar Energy IndustriesAssociation's (SEIA) Q3 2014 U.S. Solar
Market Insight Report, the U.S. residential solar market exceeded the 300 MW in a
quarter for the first time in history.
2. Residential continues to be the most reliable market segment,now growing 18 out
of the 19 quarters.
3. GTM Research forecasts it to exceed the non-residential segment in annual
installations for the first time in more than a decade.
Utilities too in
the race!
Several utilities in US, Germany andAustralia offer to supply solar deployment / lease
schemes to their consumers
Virgin/High
growth market
According to GTM Research, an industry research firm, the U.S. residential solar energy
market is expected to grow at a compound annual growth rate, or CAGR, of
approximately 37% from 2012 through 2018.Residential distributed solar has currently
penetrated less than 1% of its total addressable market in the United States.
201525
Presentation for XYZ Power : CA Varun Sethi Private and Confidential
26. CAVarun
Sethi
09899766487
Solar Industry –Latest Solar news (2013 & 2014)
(Solar project
so large (4,000
mw),it would
dwarf all others
A deal was signed between the Indian Ministry of New and Renewable Energy, the
Ministry of Heavy Industries and Public Enterprises,and the Ministry of Power to set up
what they call an "ultra mega solar power project" in Rajasthan.At 4,000 MW of
capacity, it would be by far the world's largest.
7500 MW
solar project
• Record-shattering 5,000 megawatt & 2,500 megawatt solar projects get green light
in Indian state of Jammu and Kashmir
• 7,500 MW is about three-fourths of the entire solar power capacity in the United
States at the end of the 3rd quarter of 2013.
China
China added more solar capacity in 2013 than any other country ever has in a single
year (12GW)
The country expects to install 14 gigawatts in 2014.
201526
First global solar
plane flight to
stop in India,
Myanmar,U.S
Swiss pilots Bertrand Piccard and Andre Borschberg announced the Solar Impulse 2
aircraft will depart the United Arab Emirates on their historic adventure in late
February or early March, 2015 making a total of 12 planned stops.
Presentation for XYZ Power : CA Varun Sethi Private and Confidential
27. CAVarun
Sethi
09899766487
Solar Industry – Emerging trends and latest Solar news
(2013 & 2014)
World Energy
Future
Conference
2015,Abu Dhabi.
The cost of solar was competing with traditional sources of energy, and would
not be derailed by the plunge in the oil price.
Cleantechnica.
com
(Accessed jan
2015)
Solar could extend its reach of “grid parity” to 80 per cent of global markets
within the next two years, assuming a 40 per cent cut in solar costs by the
end of 2017.
China
China added more solar capacity in 2013 than any other country ever has in a
single year (12GW)
The country expects to install 14 gigawatts in 2014.
201527
First global solar
plane flight to
stop in India,
Myanmar,U.S
Swiss pilots Bertrand Piccard and Andre Borschberg announced the Solar
Impulse 2 aircraft will depart the United Arab Emirates on their historic
adventure in late February or early March, making a total of 12 planned stops.
Presentation for XYZ Power : CA Varun Sethi Private and Confidential
31. IFRS Reporting
SoX
Certifications
Form 10Q/ 6K
Form 10K/ 20F
FPI – Foreign private issuer
EGC - Emerging growth
company
31
CAVarun
Sethi
09899766487
Public Company Transformation
Concepts, Compliances and Reporting obligations
Pre and post IPO
Presentation for XYZ Power : CA Varun Sethi Private and Confidential
32. CAVarun
Sethi
09899766487
TYPICAL IPO TIMETABLE
Appointmentof(Aug)
IPOpreparednessteam
1.Realisticbusinessplan
2.Corporatepresentation
Month X,
15
X+3
1.AppointmentofInvestment/Merchant
bankers,meetingResearchanalyst,Org.meet
etc.
2.Lawyers(DiscussiononVDRetc)
3.IFRSAuditors
SuccessfulFloatation
X+5
X+7
1.IFRSAuditFY13,14,FY15
2.ESoPteam
3.DueDiligencebybankersand
lawyers
4.CorporateGovernance(CG)
compliances
Appointmentof
(Sept.)
3.Transaction
structuring(FPIs)
4.IFRSconsulting
• END TO END PROJECT MANAGEMENT including
setting up strong reporting function/ dealing with
regulators
• Pre IPO and Post IPO: Financial Reporting and
Investor relations support
IFRS financial reporting support.
CG support
X+8
KeyActivities:
1.RegistrationStatement/
DRHPFiling
2.SEC/SEBIqueries
3.Investorrelations
4.Investormeetings
•Investor
Roadshows
•Timingthe
market
•DRHP
amendments
•IPOPricing
X+9
32
Presentation for XYZ Power : CA Varun Sethi Private and Confidential