Global Webinar | Platform Investments - Perspectives on Valuation and Modelling
As the energy landscape undergoes a radical transformation, investors are seizing the opportunity to tap into more diverse revenue streams at both project and platform levels.
We'll delve into the recent shift from traditional project-level investments to sophisticated platform-level ventures, exploring how investors seek to capitalise on new technologies and growth opportunities in the energy transition. With developers venturing into multiple elements, such as O&M and manufacturing of components, they present an attractive option for investors looking to diversify.
Our esteemed panel of industry experts will dissect the complexities and challenges associated with valuing and modelling these platforms, unveiling invaluable insights into development milestones, sum-of-the-parts valuation methodologies, investor sentiment, and sector-specific trends.
Workshop focus:
Investor considerations
- What is the buyers’ market currently like for energy transition platforms – are any types of platforms or sectors considered more attractive than others?
- Appetite / attractiveness of platforms compared to single assets / what are the key considerations when investing into a platform
- Any observable impact from Trump election, geopolitical uncertainty and some backsliding on net-zero targets
Valuation considerations
- Treatment of known and unknown pipeline
- What valuation approaches are relevant to which platform components e.g. DCF for ops; EV/MW for dev; EV/EBITDA for ServiceCo
- Buy and Hold versus exit assumptions
- What probabilities, success factors and milestones are used as projects move through development
- Valuation cross-checks at the platform-level
- How to monitor success e.g. milestone analysis, consider underwriting and management assumptions
Modelling considerations
- How to model sum of the parts approach efficiently
- How regularly should updates be made to the model
- What are the key output KPIs and what might a report to an investment committee look like
- How granular is too granular when in reality benchmarks are opaque and the effort/reward can be slim
Speakers:
- Tristan Rawcliffe, Valuations Manager, Grant Thornton
- Dominique Lim, Senior Portfolio Manager & Co-Product Head, Retail Funds, Octopus Energy Generation
- Jemma Sherman, Director, Portfolio Management, Foresight Group
- Callum White, Portfolio Manager, Sustainable Development Capital (SDCL)
This workshop will take place at 9am BST. Find your local time zone.
Can't join the live webinar? Register now and we will send you a link to view the recording as soon as it's available