Advisory Experience

The Aequero team has broad transactional and geographical experience, particularly in the Asia region.

We have provided below a summary of the transaction roles that have been undertaken by the Aequero team, either at Aequero or brought to Aequero by the team members.

• Clean Energy

• Other Energy

• Infrastructure

Clean Energy Sector Experience

Aequero's transaction and related experience in the Clean Energy sector includes:

Investment in India Clean Energy Private Equity Fund, India

Aequero advised two European governments’ fund managers on investment in an India Clean Energy Private Equity (PE) Fund. The assignment centred on the conduct of due diligence on the fund manager’s investment strategy and the quality and capacity of the proposed team and strategic partners to successfully implement the strategy as well as to conduct a review of pipeline transactions. In addition, Aequero provided direction to the PE Fund, inter alia, on its investment strategy, composition of the management team and investment committee.

Deploying Low Carbon Technologies: Private Sector Costs of Readiness

Aequero’s CEO conducted a conceptual study and developed a proposed methodology for further study of the private sector costs of readiness (transaction costs) for project developers in relatively nascent policy environments. The study was conducted ahead of the COP 15 meeting in Copenhagen in December 2009 with a view to providing direction to discussions on creating readiness in the public sector (develop, deploy and refine policies) and private sector (investment).

90 MW Renewable Energy Project, Thailand

Aequero is acting as financial advisor and co-developer to an integrated 40,000 ha reforestation and 90 MW biomass energy projects in Thailand. Aequero‘s role covers all facets of the project development activity, raising equity capital and advising on the development of debt finance for the project. Aequero holds 47% of the equity in the project development company.

Investing in Clean Energy and Low Carbon Alternatives in Asia

Aequero's CEO co-authored a technical paper published by the Asian Development Bank (ADB) in 2007. The objective of the paper was to assess the potential to scale-up investment in the clean energy sector in Asia; specifically, with the objective of identify barriers and propose solutions to facilitate and catalyse private sector investment in the clean energy in Asia.

45 MW Xe Neua Hydro Power Project, Laos PDR

Aequero conducted a preliminary financial and risk analysis and provided direction on project development activity for a small greenfield hydro power project to be developed under a BOT in Laos by a regional project development company, funded by a European bilateral development agency.

Asia Clean Diesel Ltd., Regional

Aequero acted as development and financial advisor to Asia Clean Diesel (ACD), a regional developer of biomass (and waste)-to-liquids projects based on a third generation technology that is proprietary to one of ACD's shareholders. Initial project developments are focused on Japan, the Philippines and Thailand. Aequero holds one-third of the equity of ACD.

127.5 MW Wind Projects, Heilongjiang, China

Aequero acted as financial advisor and led commercial development of three wind projects with aggregate capacity of 127.5 MW in Heilongjiang, PRC.

Wind Energy Financing Paper, India

Aequero worked in collaboration with the European Wind Energy Association (EWEA) and the Confederation of Indian Industry (CII) on the development of a white paper to identify and assess incentive schemes and financing options available for mobilising capital in the Indian wind energy sector.

Carbon and Clean Energy Finance Workshops and Reference Guide for Regional Export-Import Banks

Aequero facilitated a series of workshops for the regonal EXIM Banks in support of the Boao Forum for Asia, funded by the ADB. Aequero also developed a Clean Energy Financing Reference Guide for the EXIM Banks.

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Other Energy Sector Experience

The energy and electricity transaction experience of the Aequero team includes:

Emergency Capacity Addition Procurement Measures, WESM, Philippines

Aequero advised the Philippines Department of Energy on development of an emergency generation capacity procurement framework as a mitigation measure in the event of a market failure to invest in capacity as needed to meet demand and maintain system security margins in the nascent Wholesale Energy Spot Market (WESM).

715 MW Gas-fired Combined-Cycle Power Generation Project, Vietnam

Members of the Aequero team acted as financial advisor, in-house project counsel and development manager and technical consultant to a US$480 million gas-fired, combined-cycle power project in Vietnam for a French-Japanese consortium.

The transaction won five awards: Project Finance International and Project Finance "Asia Pacific Power Deal of the Year", Asiamoney and International Financial Law Review "Project Finance Deal of the Year" and Finance Asia "Best Project Finance Deal" awards.

3 Mtpa LNG Project, China

A member of the Aequero team acted as financial advisor to an Australian-US-Korean consortium in respect of a bid to develop a US$600 million LNG receiving terminal project in China, to be developed as a joint venture with various Chinese stakeholder firms. The project was the first LNG receiving terminal development in China.

Oil Import Financing, India

A member of the Aequero team arranged and syndicated in excess of US$1 billion of oil import facilities for an Indian Oil & Gas company.

Receivable Financing Facility, PNG

A Member of the Aequero team undertook a due diligence exercise of various oil & gas and mining projects in PNG on behalf of the PNG Government with a view to securitising a US$110 million government financing facility with resource tax and royalty receivables.

Oil Pre-financing Facility, Africa

A member of the Aequero team arranged and syndicated an oil pre-financing facility for an African national oil company. The transaction included an embedded currency option.

Thermal Power Project, Indonesia

A member of the Aequero team acted as financial adviser to an Indonesian utility for a US$150 million cross border project financing - the first post-Asian financial crisis power sector financing undertaken in Indonesia.

1,070 MW Hydroelectric Project, Laos

A member of the Aequero team acted as financial advisor in respect of the US$1.3 billion hydro-power project involving the cross-border sale of electricity to EGAT in Thailand for a blend of US$ and THB. The client was a French-Thai consortium.

Thermal Power Project, China

A member of the Aequero team acted for a Swiss energy group as lead arranger for the US$1.2 billion coal-fired power project in China.

300 MW Thermal Power Project, Vietnam

Members of the Aequero team acted as financial advisor to a US-Japanese consortium in respect of a proposal to develop a US$300 million coal-fired power project in the North of Vietnam.

3 x Geothermal Power Projects (240 MW, 180 MW and 120 MW), Philippines

A member of the Aequero team acted as in-house project legal counsel for a US energy company through development, construction and start-up phases of the Geothermal Power Project in the Philippines. The role included advising on compliance issues in respect of project agreements, regulatory requirements and commercial non-recourse financing documents.

150 MW Hydroelectric and Irrigation Project, Philippines

A member of the Aequero team acted as in-house project legal counsel to a US energy company in relation to the development and documentation of a capital market project financing for a 150 MW and 50,000 hectare irrigation project.

485 MW Gas-fired Combined-Cycle Power Project, Mexico

A member of the Aequero team led the legal team in bid preparation activities, including hiring and direction and coordination of local legal counsel for a gas-fired combined cycle facility in northern Mexico.

240 MW Gas-fired Cogeneration Project, Brazil

A member of the Aequero team undertook legal due diligence and led contract negotiations with the Brazilian off-take group for a 240 MW gas-fired cogeneration project consisting of three inside-the-fence facilities, with excess capacity to be sold to third parties.

Acquisition of Power Assets, USA

Members of the Aequero team acted as legal advisor to a Japanese buyer in relation to the tender process, including due diligence review, for various US portfolios and single asset Independent Power Projects in the USA.

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Infrastructure Sector Experience

The infrastructure transaction experience of the AEQUERO team includes:

PPP Strategic Advisor / Transaction Advisor, Indonesia

Aequero’s principal advised the Government of Indonesia on strategic aspects of infrastructure development and procurement under Public Private Partnerships (PPP) investment models, developed a working paper on the “Scope and Structure of Government Support for PPP Transactions in Indonesia” and provided transaction advisory support in respect of infrastructure transactions across the energy, water, transport, sanitation / environmental sectors.

Private Participation in Infrastructure, China

A member of the Aequero team led a financial and legal advisory team in respect of a consultancy assignment with the World Bank to develop proposals for the facilitation of investment in China infrastructure projects, including through Private-Public Partnership, focusing on the electricity, water treatment and transportation sectors.

Water Treatment Projects, Vietnam

A member of the Aequero team acted as financial advisor to a consortium led by major European water company in respect of two US$100 million water treatment projects to be developed in Vietnam's two main cities.

Hanoi Telecommunications Project, Vietnam

Members of the Aequero team acted as financial advisor to a major British telecommunications company in respect of the development of a US$100 million project to install and operate 140,000 fixed-lines in Hanoi.

Mobile Telephone Project, Vietnam

A member of the Aequero team acted as financial advisor to an Asian telecom operator in respect of its proposed US$50 million project to establish a third mobile operator in Vietnam.

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