GreenStream Network Plc. Company Profile and Capacity Statement

Transcription

1 GreenStream Network Plc Company Profile and Capacity Statement March 2009

2 Company profile and list of references GreenStream Network Plc is a European company offering advisory and financing services, intermediary services and asset management services related to emissions trading, greenhouse gas offset projects, such as JI and CDM, as well as renewable energy. GreenStream s principal clients are corporations from the energy, pulp and paper, construction material, metal and technology industries, actors in the finance sector as well as governmental and other public organisations. As a member of the CMIA (Carbon Markets & Investors Association), the IETA (International Emissions Trading Association), RECS International, the Bluenext Exchange and other exchanges, GreenStream is at the forefront of the developments in the carbon and renewable energy markets. GreenStream also participates in the work of the EFET (European Federation of Electricity Traders). GreenStream has offices in Beijing, Gothenburg, Hamburg (domicile of GreenStream Network GmbH), Helsinki (Group Headquarter), Johannesburg (domicile of joint venture company CarbonStream Africa) Oslo (domicile of GreenStream Network AS), Stockholm and Vilnius. GreenStream is further active on the Danish, Dutch, Estonian, Latvian, Polish, Russian (representation in Moscow) and Ukrainian (representation in Kiev) markets among others. Our main business areas and services are: Green Investment This business area covers investments in projects and the development and management of investment vehicles. Investments in Projects GreenStream prepares emission reduction and renewable energy projeects in which clients and investment vehicles managed by GreenStream may invest. GreenStream is involved in a range of individual emission reduction and renewable energy projects. Management of Investment Vehicles Investment Vehicles are founded in order to finance investment projects identified by GreenStream. Investment vehicles have their own management companies and clear investment strategies in order to eliminate conflicts of interest. Investment vehicle investors are financial investors, companies and public organisations. GreenStream may also manage funds of other organisations. Based on the expertise gained in cooperation with e.g. the World Bank and Nordic Environmental Financing Company (NEFCO, part of the 2/11

3 Nordic Investment Bank Group), GreenStream is currently preparing several new investment vehicles related to renewable energy and carbon markets. In December 2006, GreenStream was entrusted a Carbon Manager assignment within the Multilateral Carbon Credit Fund of EBRD and EIB on the management of emission reduction projects located in the fund s Northeast region (Russia, Ukraine, Belarus and Kazakhstan), where GreenStream aims at signing purchase agreements for approximately 8 million tons of carbon credits generated by the end of In January 2007 GreenStream in cooperation with Icelandic Landsbanki launched Blåfall, a small-scale hydro fund in Norway. The investment capacity of the fund is about 20 million EUR and will be invested as equity. In May 2007 GreenStream launched the Fine Carbon Fund (FCF), with an investment capacity capped at 30 million EUR. FCF purchases carbon credits mainly from CDM projects for its investors who are leading Finnish energy and industrial companies in the EU Emissions Trading Scheme. In March 2008 GreenStream launched the Nordic Carbon Fund (NCF), with an investment capacity capped at 40 million EUR. NCF is a vehicle purchasing carbon reductions primarily from Clean Development Mechanism (CDM) projects for its compliance and financial investors. In May 2008 GreenStream founded the Biogas Fund Europe (BFE), which engages in the development and commissioning of small-scale biogas plants in Europe for its financiers. In December 2008 GreenStream launched the Climate Opportunity Fund (COF), which focuses on the acquisition of post-2012 carbon credits for compliance and financial gain for its investors. Through the daily operations of these funds GreenStream has an excellent touch in the carbon market, and is continuously involved with CDM/JI project evaluation, development and contracting. Advisory and Financing Services Carbon and Renewable Energy Strategies GreenStream supports private companies and public organisations in analysing the business impacts of a carbon-constrained economy and in integrating carbon and renewable energy mechanisms and markets in their business strategies. GreenStream assists companies in developing climate-related business, in preparing for trading schemes and in optimising their actions once they have entered the market by providing e.g. trading strategies and investment analysis. We assist our clients in capitalising on new opportunities and reducing their risk exposure arising 3/11

4 from national and international emissions trading and renewable energy regulations. Financing Solutions and services for utilising Kyoto Mechanisms GreenStream channels investments into carbon emission reduction and renewable energy projects. We help project owners by preparing prospects and investment memorandums, identifying and introducing investors, supporting the client in negotiations and in structuring the financial package. We help investors in finding and analysing prospects which fit their investment strategy and in entering into agreements. GreenStream has successfully assisted clients in investing in/financing hydropower, wind power and biogas projects in e.g. China, Norway and Germany. We have the specific expertise in utilising carbon financing and renewable energy certificates as part of the overall financing solution for projects. GreenStream offers assistance in the development and implementation of emission reduction projects that qualify as CDM, JI or GIS projects. The services cover project cycle management including project assessment, preparing documentation (PIN, PDD etc.), organising project validation or determination and providing contract support (Term Sheet and ERPA). GreenStream s experts have been involved in CDM/JI/GIS project development in some 20 countries, e.g. the three Baltic States, Bulgaria, Germany, Hungary, Jordania, Kazakhstan, Morocco, Poland, Russia and Ukraine, as well as in Central and South America, South Africa, China and elsewhere in South East Asia and India. GreenStream has also carried out assignments for carbon funds, such as the CDCF and BioCarbon of the World Bank and the Testing Ground Facility of the NEFCO. Due to our home market, we have a superior relation to globally leading Northern European renewable energy and low-co 2 technology companies, for which we have done business strategy advisory and which gives us access to potential CDM and JI projects. In January 2009 GreenStream together with South African CEF Carbon SA launched a new joint venture, CarbonStream Africa. The joint venture is an advisory company delivering comprehensive solutions and services for emission reduction projects, such as the Clean Development Mechanism (CDM) and Voluntary Offsetting. Market Analysis GreenStream provides both periodical market analysis and tailored market intelligence in the carbon and renewable energy and certificate markets. We further follow and analyse changes in the operational environment for energy sector companies, technology companies and investors. We have also been entrusted several assignments on designing and assessing various promotional schemes and steering mechanisms in the energy sector. We have a solid understanding of the complex carbon and renewable energy markets. We also have an exceptional insight in market sentiment, thanks to our intermediary activities. We constantly have a 4/11

5 finger on the market pulse giving us on-line market information on actors, volumes, prices and trading practises. This provides a solid base for providing value-adding market intelligence. Climate Neutrality Services GreenStream supports clients in buidling business concepts based on low-emission and renewable energy products and services and implementing them. Services include, in addition to business intelligence, auditing operations in light of emission-intensity and business relevance, emission footprint assessments through GreenStream s co-operation parties, client staff training and provision of climate expertise for internal and external communication. As part of our intermediary services, GreenStream is able to acquire any kind of carbon offsets and renewable energy certificates which best fits the clients business. Intermediary Services GreenStream acts as a broker on the carbon and green certificate markets covering all climate-related certificates (EUAs, ERUs, CERs, carbon offsets), green certificates and electricity certificates. GreenStream brokered the first EU emission allowance trade between Nordic companies, the first trade in the Swedish Elcertificate scheme and the first financial deal with EU emission allowances in Europe. GreenStream offers OTC trading services and services as a member of three carbon market exchanges, of which Bluenext Carbon is the leading European exchange for spot trading with EUAs. GreenStream is the leading broker of green and carbon-free energy certificates in Europe and has been elected the best green certificate broker of the year in 2004, 2005, 2006, 2007 and 2008 in non-uk Europe by the readers of the Environmental Finance magazine. Further information on GreenStream Network Plc, its products and services can be found on the company s Internet homepage at Recent assignments that GreenStream Network Plc s staff members have worked on are listed below. The Carry-over over of Kyoto units; Ministry of Environment Sweden, Analysis of the RES support systems and status of energy intensive industry in different European countries; client, CDM Market Outlook; client, 2009 (ongoing). International climate negotiations investment and financing issues; Ministry of Environment Finland, Benchmarking in the allocation of emission allowances in the EU ETS; client, Developing the EU Emissions Trading Scheme - an analysis of some key issues for the Nordic countries, Nordic Council of Ministers, /11

6 Analysis of opportunities for harmonisation of instruments for the promotion of renewable energy in the Nordic countries; The Nordic Working Group for Renewable Energy, Preparation of a Framework for a Nutrient Quota and a Credits Trading System for the Contracting Parties of HELCOM in order to reduce Eutrophication of the Baltic Sea; Nefco, Emissions trading outside the European Union, Nordic Council of Ministers, CDM Joint Venture in South Africa including charting CDM opportunities, PDD preparation and other tasks related to emission reduction opportunities is South Africa; in co-operation with CEF Carbon SA, Clients, 2009 (ongoing). CDM Management including PDD establishing for Fuel Switch Project in Berechide Morocco; SBBC, Carbon Manager contract with the Multilateral Carbon Credit Fund of EBRD and EIB on the management of emission reduction projects located in Russia, Ukraine, Belarus and Kazakhstan; EBRD, Biogas project development (incl. Identification, technology consulting, emission reduction generation and commercialization, Kyoto-cycle and adoption of emission certificates and portfolio management) in Germany and in the EU (ongoing). Landfill gas methane capture CDM project in Jordan; client, Development and launch of the small-scale hydro fund Blåfall in Norway; in co-operation with Landsbanki (ongoing). Development of biogas project portfolio in Poland; client, Identification of JI Projects in the Baltic States and Poland; World Bank, Financing and CDM expertise for the development of wind power in China; NBT AS, Benefiting from the CDM opportunities in China and India; client, Supervision of the Client s interests as investor in a Carbon Fund; European energy company, Project development, investor process and financing for Austevoll Vind AS 21 MW wind farm, Hybrid Technology AS, 2005 ongoing. Analysis of the CCX and its procedures relating to offsets from afforestation projects; client, Support for developing climate change strategy and advice on developing for Project and Carbon Finance Concept Development; Client, /11

7 Evaluation of the operations and results of the Testing Ground Facility; a fund targeted at JI projects around the Baltic Sea, Nefco, CDM Management including PDD establishing for Landfill gas projects Medellin in Colombia; client CDM Expertise for the Norwegian Energy Management Programme in China, Invanor CDM Consultancy for MBT Project Gaobeidian in China, Client The State of Kyoto Project Mechanisms, Emissions Trading in Russia and the United States of America, Client Ongoing provision of expertise related to JI procedures and the management of the JI project cycle of projects; client, JI cycle management for a Landfill Gas project in Lithuania; client, Design of a feed-in tariff system for peat-fired condensing plants; Finnish Ministry of Trade and Industry, Estonian Green Investment Scheme mission and options study Estonia; client, Development of domestic markets for industry within the environmental sector (together with Gaia Group); SITRA, Project Idea Note for a potential CDM project in South Africa; client, Valuation of two wind power projects in Sweden; client, Design of a feed-in tariff system for peat-fired condensing plants; Finnish Ministry of Trade and Industry, CDM cycle management for an emission reduction project in the Republic of Korea; client, Analysis of CDM opportunities in India and workshop on carbon market, project mechanisms and business opportunities; client, Measures for improving the competitiveness of peat in energy production in Sweden in an emissions trading environment; Swedish Peat Producers Association, The Linking Directive and the Potential for Joint Implementation in the Baltic Sea Region, Nordic Council of Ministers, Project/Program pipeline preparation for the Latvian Green Investment Scheme; Ministry of Environment of Finland in cooperation with the Ministry of the Environment of Latvia and the World Bank s Carbon Finance Unit, Finnish Emissions Trading Barometer 2005; Finnish Ministry of Trade and Industry, /11

8 Support of strategy process for business affected by energy and emissions trading markets; client, Analysis of the European emissions trading market; Global pulp and paper industry company (confidential), Measures for improving the competitiveness of peat in energy production in Sweden in an emissions trading environment; Swedish Peat Producers Association, Key data on the Finnish electricity market; client, Provision of carbon market intelligence reports to a Spanish client; client, Supervision of the Client s interest during the design of support schemes for renewable energy; European Energy Company, Advisory services related to the Client s role as Issuing Body in the European Energy Certificate System; Grexel Systems Oy, Launch and marketing of the second tranche of the Testing Ground Facility; a fund targeted at JI projects around the Baltic Sea; Nordic Environment Financing Corporation, Background study for the Finnish national Joint Implementation strategy, Ministry of the Environment in Finland, CDM cycle management for the Qinijiamo hydropower project in China; client, Zambiza Landfill Gas Project Ecuador including CDM managements and PDD development. ARA Carbon Finance Supervision of the Client s interest during the design of support schemes for renewable energy; European energy company, Project Development and Investor Process HøgJæren EnergiPark 80 MW, Jæren Energi AS. Investor agreement signed and announced in January 2006, Development of a portfolio of biogas JI Projects in Germany and JI project cycle management; Several clients, Seminar on Swedish el certificate system for the management; Several clients, Assistance in emissions monitoring and trading with EU emission allowances, confidential Lithuanian company, Management level presentation on emissions trading and the opportunities offered by project mechanisms JI and CDM; ALSTOM, Assistance in emissions monitoring and trading with EU emission allowances, confidential Lithuanian company, Landfill Gas CDM Project in Ecuador; client, Marketing the World Bank s Biocarbon fund to potential participants in Europe; The World Bank, /11

9 Finnish Climate Business Initiative for Central and Eastern Europe JI in Bulgaria, Hungary, Romania and Slovakia; FinPro and TEKES, Integration of emissions trading into the client s business strategy management consulting with multiple tasks; client, Carbon financing in ESCO projects in North-West Russia; EC/Interreg III A and Lappeenranta University of Technology, Marketing the World Bank s CDM-fund, the Community Development Carbon Fund (CDCF), to potential company participants in Northern Europe; The World Bank, Support of developing portfolio management and trading strategy concerning emission allowances within the EU ETS; client, The impact of the EU Emissions Trading Scheme on the timing of an investment in new energy production capacity; client, The impacts of emissions trading on the client s customers and businesses; client, Business opportunities related to emissions trading; client, Continuous client support in preparing for the EU emissions trading scheme and the management of emission allowances; client, Assignment related to the third phase of the evaluation process of the Swedish El certificate system; Statens Energimyndighet, A major transport vehicle manufacturer and Emissions Trading business impact identification and capacity building workshop; client, Support in preparing for a Swedish-Norwegian green certificate scheme; client, The impacts of emissions trading on the value of an acquisition target company part of a due diligence process; client, Advice on operations in a common Swedish-Norwegian green certificate scheme; client, A common Swedish/Norwegian certificate market, NVE, Valuation of green (electricity) certificate production in Norway; client, Seminar on emissions trading for the management of several client organisations; client, Support in preparing for the EU emissions trading scheme; client, High-level workshop on the EU ETS and the market for emission allowances; client, The European Emissions Trading Scheme and companies business opportunities; client, /11

10 Impacts of the EU Emissions Trading Scheme on the client s businesses; client, Continuous client support in preparing for the EU emissions trading scheme and the management of emission allowances; client, The impacts of emissions trading on the value of an acquisition target company part of a due diligence process; client, Preparation of a Project Design Document for a renewable energy project in Estonia, client, Eligibility of a power plant refurbishment project in Russia as a JIproject; client, The principles of allocating CO2-emission allowances to a specific industry sector in the national allocation plans for the European emissions trading scheme in 10 EU Member States; client, Renewable Electricity Schemes and Markets - Opportunities for Actors in the Icelandic Electricity Industry; Reykjavik Energy, Long term price-hedging within the electricity and electricity certificate markets, Stage 1 and 2, client, The implementation of the EU Emissions Trading Directive in selected countries; client, Emissions and electricity trading simulations for European companies in cooperation with CarbonSim Pty. (both open simulations and company internal simulations); Clients in several European countries, Preparation of a CDM financing guide; Finnish Ministry of Foreign Affairs, Possibilities for Joint Implementation in Russia, Client, Emissions and electricity trading simulations for European companies in cooperation with CarbonSim Pty. (both open simulations and company internal simulations); Clients in several European countries, Possibilities for Joint Implementation in Russia; Min. of Foreign Affairs of Finland, The development of the market for emissions allowances within the European emissions trading scheme; Client, Feasibility study on outsourcing the Client company s management of emissions allowances to a portfolio manager including market forecast for emission allowances; industrial Client, Capacity building workshop on emissions trading and renewable energy certificates trading; Motiva, Bio fuel market survey in selected countries; Client, Pellet market study; Client, Two internal high level seminars on the impact of Emissions Trading on Business; Multinational Client, /11

11 Means of promoting the use of renewable energy in some EU countries, client, Contents for web-pages on emissions trading and green certificates; Client, Markets for Guarantee of Origin registries for electricity produced with renewable energy sources; Client, Carbon advisor in a Central-American CDM project; Wärtsilä Biopower, Carbon advisor in a Chilean CDM project; confidential multinational technology company, Feasibility study on outsourcing the Client company s management of emissions allowances to a portfolio manager including market forecast for emission allowances; industrial Client, JI opportunities for waste management sector in Hungary; client, Capacity building workshop on emissions trading and renewable energy certificates trading; Motiva, Bio fuel market survey in selected countries; Client, The business opportunities of Emissions Trading (EU ET scheme and others), Joint Implementation and the Clean Development Mechanisms for a major energy solutions company; Multinational Client, 2003 Carbon market outlook with focus on the impact of developments in Russia; industrial company, The Kyoto Mechanisms an international survey and companies point of view; client, Joint Implementation PDD preparation. Multiple confidential Finnish clients Multiple ongoing portfolio management assignments concerning carbon and/or certificate assets; the volume of emissions trading portfolios is several million CO2 allowances; clients, 2001 onwards. Hundreds of brokerage assignments concerning trades with EU emission allowances (e.g. from its start through the Powernext exchange), certificates within different renewable energy certificate schemes (e.g. the Dutch scheme, the Swedish scheme and voluntary trading) and bio fuels; clients in most European countries, 2001 (onwards). 11/11