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Steve Mills

Green Certificate Glossary
September 27, 2022

Green Certificate

A green certificate is a tradable commodity proving that certain electricity is generated using renewable energy sources. Typically one certificate represents the generation of one Megawatt hour of electricity. What is defined as "renewable" varies from certificate trading scheme to trading scheme. Green certificates represent the environmental value of renewable…
Gearing Glossary
September 23, 2022

Gearing

The ratio between Equity and project finance debt within the financing structure. Usually given as Debt : Equity – thus “80:20 gearing” means 80% debt and 20% Equity. This ratio is also referred to as the project’s “Leverage”.
Force Majeure (FM) Glossary
September 21, 2022

Force Majeure (FM)

Force majeure is generally intended to cover occurrences beyond the reasonable control of a party to a contract. It is a common clause in contracts that essentially frees parties from liability or obligation when an extraordinary event or circumstance beyond the reasonable control of the parties, such as a war,…
Feed-In Tariff Glossary
September 16, 2022

Feed-In Tariff

A policy mechanism designed to accelerate investment in renewable energy technologies. It achieves this by offering long-term contracts to renewable energy producers, typically based on the cost of generation of each technology. Rather than pay an equal amount for energy, however generated, technologies such as wind power and solar PV, for instance, are awarded…
Export Credit Agency (ECA) Glossary
September 15, 2022

Export Credit Agency (ECA)

An export credit agency (or ECA) or investment insurance agency is a government-owned or government-supported institution which provides export financing and / or credit insurance or guarantees to lenders. The objective of ECAs’ activities is to encourage exports and thereby to stimulate activity within their own economies. Examples are Euler-Hermes…
Event of Default Glossary
September 14, 2022

Event of Default

An occurrence which gives lenders under a project financing arrangement the right to declare the Borrower in default of its obligations under the financing agreements and to require immediate repayment of the debt in full. While project lenders rarely exercise this right, they will use their ability to do so…
ESG Considerations/ Engagement and Investments Glossary
September 12, 2022

ESG Considerations/ Engagement and Investments

A method of running businesses and select investments which takes into account the Environmental, Social and Governance impacts of business and investment decisions. “E”: concerns issues related to resource use, pollution, climate change, energy use, waste management and other physical environmental challenges and opportunities. “S”: impact on Social, inclusion, economic…