Modeling the Recapitalization of Renewable Generation Portfolio
See more projectsIntensity
10hr/week
Duration
7days
Location
Remote
Project Overview
8 to 15 years professional experience
Finance & Accounting - Financial Modeling
Need experienced financial modeler to model KKR infrastructure group's purchase of 11 renewable energy projects from NextEra. The projects will be combined into a portfolio where existing project debt will be recapitalized.
Transaction Details
- KKR investment will be in the form of an equity interest in a newly-formed structured partnership with NEP.
- NEP has certain rights to re-acquire KKR interest over time at pre-determined return levels between 3.5 and 7.0 years after formation of partnership.
- KKR share of partnership cash flows increases to 99% in the event that NEP call options are not exercised within certain milestones.
- KKR’s $900 million investment will be funded via a mix of new term loan financing and equity
Recapitalization Benefits
1. Bridges potential CAFD impact of the PG&E bankruptcy
2. NPV and credit accretive
3. Cash savings reduce future asset and financing needs
4. Assets remain de-risked, allowing for potential re-levering in the future
Transaction Details
- KKR investment will be in the form of an equity interest in a newly-formed structured partnership with NEP.
- NEP has certain rights to re-acquire KKR interest over time at pre-determined return levels between 3.5 and 7.0 years after formation of partnership.
- KKR share of partnership cash flows increases to 99% in the event that NEP call options are not exercised within certain milestones.
- KKR’s $900 million investment will be funded via a mix of new term loan financing and equity
Recapitalization Benefits
1. Bridges potential CAFD impact of the PG&E bankruptcy
2. NPV and credit accretive
3. Cash savings reduce future asset and financing needs
4. Assets remain de-risked, allowing for potential re-levering in the future
Additional Notes
A good background in project finance is helpful but not critical, as is experience with recapitalizations. Preferred Background
Sector Experience
Energy
Preferred Skills and Certifications
Functional
Financial Modeling
About The Client
Top Skills Hiring For
Financial Modeling
5 years
Time On Graphite
1
Hiring Managers