Registry

Module Specifications

Current Academic Year 2012 - 2013
Please note that this information is subject to change.

Module Title Finance for Sustainability
Module Code EF5116
School DCUBS
Online Module Resources

Module Co-ordinatorSemester 1: Mark Cummins
Semester 2: Ruth Finnegan
Autumn: Mark Cummins
NFQ level 9 Credit Rating 5
Pre-requisite None
Co-requisite None
Compatibles None
Incompatibles None
Description
This module will develop students’ knowledge of the tools and techniques of understanding how sustainable projects get financed. This will include detailed analysis of project finance structures, risk allocation, and contract structures. Students will develop their knowledge of the critically-important project finance market, and place the challenges in financing sustainability in context.

Learning Outcomes
1. Critically evaluate types of project finance structures deployed by governments, financial and non-financial corporations
2. Evaluate structuring arguments for and against risk allocation to project parties.
3. Critique methodologies for financial evaluation of projects, introduction to financial modelling, financial ratios and other key financial tools.
4. Summarize the sustainable/renewable energy financing market - total market size, breakdown of funding types, key countries and project types.
5. Explain the diverse sources of finance and applications, including project finance, corporate debt, private equity / venture capital, public sector – Grants/EU funds and the EU Project Bond Initiative



Workload Full-time hours per semester
Type Hours Description
Lecture24The lecturer will present the essential ideas and core concepts pointing students towards resources where they can get further information
Independent learning36Preparation for, and reading after lectures
Group work25Group work on topics assigned by the Lecturer
Assignment40Individual work on topics agreed with the Lecturer
Total Workload: 125

All module information is indicative and subject to change. For further information,students are advised to refer to the University's Marks and Standards and Programme Specific Regulations at: http://www.dcu.ie/registry/examinations/index.shtml

Indicative Content and Learning Activities
Sustainable finance market overview.
Overview of sustainable/renewable energy financing market - total market size, breakdown of funding types and key countries. Included in this topic will be an overview of the different types of projects being financed in the market i.e. Wind, Solar, Biomass, Biofuels, LFG, Marine & Energy Efficiency • Outline of key Irish and EU legislation and legal framework • Irish and global key risks.

Sources of finance.
• Overview of different source of finances and applications to sustainable financing o Project Finance o Corporate debt o Private Equity / venture capital o Public sector – Grants/EU funds/EU Project Bond Initiative o Carbon credits.

Introduction to Project Finance.
• Understanding the key basic principles and structure of project finance • Key contract and legal issues • Financial analysis - Capital structures, cashflow analysis, project valuations • Standard banking and legal terms & conditions.

Project finance structuring.
• Analysis of key project risks including government policy, technology, feedstock and project counterparties etc • Managing project risk and how it affects the capital structure • Case studies: Focus on 2/3 transactions (1 project finance, 1 equity finance and 1 other Public sector/Carbon credits), outline structures, financing approach etc.

Assessment Breakdown
Continuous Assessment50% Examination Weight50%
Course Work Breakdown
TypeDescription% of totalAssessment Date
Group assignmentGroup assignment20%As required
ProjectIndividual Project30%As required
Reassessment Requirement
Resit arrangements are explained by the following categories;
1 = A resit is available for all components of the module
2 = No resit is available for 100% continuous assessment module
3 = No resit is available for the continuous assessment component
This module is category 1
Indicative Reading List
  • K. Tang: 2009, A Guide to Carbon Finance: Carbonomics for a Credit Constrained World, Risk Books,
  • S. Labatt, R. R. White: 2007, Carbon Finance: The Financial Implications of Climate Change, Wiley,
  • R. A. Brealey, S. C. Myers, F. Allen: 2011, Principles of Corporate Finance, 10th, McGraw Hill,
Other Resources
None
Array
Programme or List of Programmes
GCSTFGrad Cert. in Sustainable Energy Finance
MSEFMSc in Sustainable Energy Finance
Timetable this semester: Timetable for EF5116
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