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Currents

Latest episodes

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Mar 30, 2020 • 16min

Ep92: US EXIM is Back

Luke Lindberg, senior vice president of external engagement for the Export-Import Bank of the United States (EXIM), joins us to discuss EXIM’s reauthorization after Chairman Reed’s confirmation last May. We go into what the bank’s priorities are, the changes Congress made to its charter during reauthorization, the markets that EXIM is focused on, how they work with other government agencies and more.
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Mar 29, 2020 • 21min

Ep91: What the CARES Act Means for Companies

Keith Martin, partner at Norton Rose Fulbright in Washington, joins us to unpack the $2.2 trillion economic relief bill that cleared Congress on Friday -- the CARES Act -- and what it means for companies in the project finance market. We get into the handful of things it does for companies, the prospects for more targeted relief for renewables, what we are seeing currently in the market and more.
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Mar 26, 2020 • 1h 3min

Ep90: Taking Stock:Tax Equity, Debt and M&A

Tax equity for renewable energy was expected to be a US$15 billion market this year, and interest rates on bank debt had dropped to 125 to 137.5 basis points over LIBOR – before the coronavirus hit. Is financing still available for power and infrastructure projects? Has there been any change in availability or cost of tax equity, bank debt, B loans and project bonds? How have asset valuations been affected?Six key market participants talked about these questions and more. They are John C.S. Anderson, global head, corporate finance and infrastructure at Manulife, Ted Brandt, CEO of Marathon Capital, Jack Cargas, managing director at Bank of America, Ralph Cho, co-head of North American power and infrastructure at Investec Bank, Yale Henderson, managing director at J.P.Morgan and Max Lipkind, managing director and head of energy and power leveraged finance at Credit Suisse.
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Mar 20, 2020 • 60min

Ep89: Taking Stock: Business Outlook

This was expected to be a peak year in new capacity additions for wind and solar projects – before coronavirus hit. How has the outlook changed? Is work continuing on projects that are already under construction? Are new projects still able to secure financing? How are utilities faring? What issues are companies facing that will require a government response?Six power company CEOs joined us to talk about these questions and more. They are Michael Garland, CEO of Pattern Energy, Paul Gaynor, CEO of Longroad Energy, Miguel Prado, CEO of EDP Renewables North America, James Torgerson, CEO of Avangrid, Guy Vanderhaegen, CEO of Origis Energy, and Tom Werner, Chairman and CEO of SunPower Corporation.
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Mar 18, 2020 • 20min

Ep88: US Wind Energy Market Outlook

Dan Shreve, head of global wind energy research at Wood Mackenzie, joins us to discuss the future of the wind market. We take a look back at 2019, the outlook for 2020, the risks to the supply chain due to coronavirus and the potential effect on deployment, the impact of the PTC extension, the competition in the US between wind and solar, and more.
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Mar 3, 2020 • 19min

Ep87: Coronavirus and the Renewable Energy Industry

Sue Wang, Ben Koenigsberg and Keith Martin join us to discuss the impacts of coronavirus on the renewable energy industry. We discuss how coronavirus is affecting daily life in Wuhan, the effect on loans, what sponsors should do after receiving force majeure notices, what might happen to renewable energy projects that are up against deadlines to start or finish construction to qualify for tax credits, how the M&A market is being affected, and more.
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Feb 25, 2020 • 22min

Ep86: The LIBOR Transition

Claire Edwards, knowledge counsel with Norton Rose Fulbright in London, joins us to discuss the upcoming move away from LIBOR, the London Interbank Offered Rate. We discuss the basics of LIBOR, its importance to the industry, why it is being replaced, what types of rates people can expect to see in place of it, the difficulties around getting people to accept a new standard rate and much more.
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Feb 18, 2020 • 15min

Ep85: The Advantages of Surety Bonds

Karl Choltus, SVP, national surety practice leader at Beecher Carlson Insurance Services, LLC, joins us to discuss all things surety bonds. We discuss what a surety bond is, their traditional applications and competitive advantages, how similar a surety bond is to a guarantee, the target audience for a surety bond and much more.
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Feb 10, 2020 • 16min

Ep84: 2019 Review of Renewables

Sue Wang, senior counsel in our Washington office, joins us to discuss the banner year that renewables had in 2019. We get into the different changes in step-down dates for tax credits, what types of projects people are interested in buying, how clients are mitigating political risk, the growth in storage paired with generating facilities and more.
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Jan 22, 2020 • 1h 3min

Ep83: Cost of Capital: 2020 Outlook

It is the start of a new year. Many forecasters expect modest global growth this year, helped by favorable monetary policies by central banks, but with risk on the downside due to trade and geopolitical tensions. The US market remains awash in liquidity. Listen to a discussion led by Keith Martin, partner at Norton Rose Fulbright, among John C.S. Anderson, global head of corporate finance and infrastructure at Manulife, Jean-Pierre Boudrias, managing director and head of project finance for North America at Goldman Sachs, Jack Cargas, managing director at Bank of America, Ralph Cho, co-head of the North American power and infrastructure group at Investec Bank plc, and Yale Henderson, managing director at J.P.Morgan, about what to expect in the year ahead for tax equity, bank and term loan B debt and project bonds.

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