COMMERCIAL & FINANCIAL ASSET MANAGEMENT
End-to-end administration and compliance of the Asset with all relevant obligations (regulatory, contractual, administrative, commercial, environmental) on behalf of the SPV, along with the conversion of operational data into useful and understandable financial information.
Contract Management
Revenue & Cost Control
Budget & Cashflow Management
o Managing business relationships with the counterparties of all related SPV contracts, including
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EPC, O&M Contractors
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Grid Operator(s)
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Offtaker, Bank
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Aggregator
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Insurance
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Landowner
including relationship management, sourcing of major suppliers/ service providers (e.g. O&M, security, insurance, ancillary services, utilities, consultancy), liaising with suppliers in case of non-compliance or claims and in general supervising contract compliance from the commercial/ financial perspective.
o Recording head of terms of major contracts concluded through proper software tool.
o Ensuring maximum business optimization through scaling effect, avoiding single sourcing
o Rigorous monitoring of invoices and payments.
o Confirming the meters’ reading collected on site by the O&M Team, validating and comparing it with the billing issued by the electricity purchaser, as follows:
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Calculation of revenue using the production data downloaded from the production meters.
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Verification of the production data read and registered as well as the issuance of relevant invoices and self-billing invoices, if applicable.
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In case differences occur, processing of the corresponding claims, while coordinating the necessary actions to guarantee the accurate invoicing of the energy fed into the grid.
o Submission of the required notifications, with respect to Offtake Agreement administration (e.g. Planned/ Unplanned Outages).
o Overseeing the preparation of the annual budget & cashflow forecast, including
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Monthly estimation of OPEX (lease, O&M, AM, insurance, security, PV monitoring, utilities and bank fees).
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Monthly estimation of production and revenues as per the technical data and/or or project finance.
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Financial expenses/ Taxes/ Depreciation costs.
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Repayments of shareholder loans (interest and principal)/ distributions to SPV’s shareholders.
o Managing accounts payable and receivable with respect to payments under SPV’s contracts (O&M, surveillance, land lease, security, monitoring, etc.), providing notices to the Asset Owner for authorization as required.
o Updating annual budget forecast with actual data, analyzing the deviation between the forecast and actual data.
Debt management
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Comprehensive understanding of the financing contract and the bank loan requirements, either for equity/ debt or for project finance type of funding, elaborating the necessary periodic deliverables and ensuring meeting the corresponding requirements.
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Assisting the Owners and/ or Investors in case of re-financing during the operational phase of the Asset, by feeding the refinancing due diligence process demonstrating an improved operational risk profile, as applicable, leading to better lending terms.
Land lease management
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Managing the key long-term relationship between the landowner and the Asset Owner, including potential land lease agreement issues, such as any alteration needed in the plant, site access, vegetation control, as well as annual price indexation assessment.
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Ensuring compliance with local legislation concerning land alterations (planning permit).
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Renegotiate contract extension and/or amendment as necessary.
Financial Administration & Reporting
Periodic financial reporting
consolidated financial statements based on International Financial Reporting Standards (IFRS) and/or Local Accounting Standards
Accounting/ Bookkeeping
assistance knowledgeable in local market practices
Tax management
preparation, filing and administration with respect to VAT/VIES, Withholding taxes and Income tax filings
Coordinating Accounting & Tax Service
compliance with local tax authorities
Corporate administrative services (CoSec)
General management services, including drafting of minutes of general assembly and board of directors' meetings.