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.
Confidential – Copyright 2010 12
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
Confidential – Copyright 2010 1313
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
Confidential – Copyright 2010 1414
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
Confidential – Copyright 2010 1515
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
Confidential – Copyright 2010 1616
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
Confidential – Copyright 2010 17
& 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
Confidential – Copyright 2010 18
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
Confidential – Copyright 2010 19
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
Confidential – Copyright 2010 20
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
Confidential – Copyright 2010 21
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
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Confidential – Copyright 2010 2222
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
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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
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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.
Confidential – Copyright 2010 2323
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
26 HONEYWELL - CONFIDENTIAL 6 oktober 2010
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
27 HONEYWELL - CONFIDENTIAL 6 oktober 2010
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
28 HONEYWELL - CONFIDENTIAL 6 oktober 2010
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
29 HONEYWELL - CONFIDENTIAL 6 oktober 2010
Financieringsmogelijkheden
1. Financiering uit eigen middelen2. Lening via bank3. Lease-overeenkomst via bank:
budgetneutrale financiering mogelijk
Instelling
Bank
30 HONEYWELL - CONFIDENTIAL 6 oktober 2010
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
31 HONEYWELL - CONFIDENTIAL 6 oktober 2010
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
32 HONEYWELL - CONFIDENTIAL 6 oktober 2010
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
33 HONEYWELL - CONFIDENTIAL 6 oktober 2010
Voordelen voor EPC’s
• Duidelijke business case op één A4-tje
• Geen technische & financiële risico’s
• Maatwerkfinanciering is mogelijk
34 HONEYWELL - CONFIDENTIAL 6 oktober 2010
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
35 HONEYWELL - CONFIDENTIAL 6 oktober 2010
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
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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
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60
GeldstromenGeldstromenbeheersfase
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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.
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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.
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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