Postgraduate Course: Advanced Energy Finance (CMSE11454)
Course Outline
| School | Business School |
College | College of Arts, Humanities and Social Sciences |
| Credit level (Normal year taken) | SCQF Level 11 (Postgraduate) |
Availability | Available to all students |
| SCQF Credits | 10 |
ECTS Credits | 5 |
| Summary | The Advanced Energy Finance course examines the links between energy markets, renewable energy generation technologies and project finance of renewable energy infrastructure investments. The course will provide students with advanced skills for understanding how to finance energy projects and running project finance financial models. Students will learn how to use advanced tools to analyse and rank different funding structures in order to define the best solution to finance an energy project. |
| Course description |
The course provides an overview of the different forms of energy policy instruments, and their different purposes, particularly their application to energy finance. Project finance financial modelling will be applied to real world cases in energy infrastructure investments.
The course will draw on both theoretical and applied concepts in delivering lectures on all topics. Lectures will also be delivered by experienced practitioners, with knowledge of project finance and capital structure. In addition to introducing students to the wider literature, recent publications and case studies will be used to ensure that students will come out of the course with specific skills in financing energy projects.
Outline Content
1. Introduction of electricity markets
2. Finance for renewable energy projects
3. Theory of capital structure and project financing
4. Project finance financial modelling
5. Debt size vs. margins vs. tenor
6. Project finance scenario analysis
Student Learning Experience:
Formal teaching occurs via lectures and tutorials. Much of the learning will be the result of students' own reading and reflection, and preparation for coursework. A high degree of student participation is expected, through in-class discussions. Scholarly endeavours are fundamentally about building on the discoveries and insights of others, and we hope that team cooperation will enrich all students. There will be time for questions and discussion in class as well as practice sessions for cash flow modelling.
Tutorial/seminar hours represent the minimum total live hours - online or in-person - a student can expect to receive on this course. These hours may be delivered in tutorial/seminar, lecture, workshop or other interactive whole class or small group format. These live hours may be supplemented by pre-recorded lecture material for students to engage with asynchronously.
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Entry Requirements (not applicable to Visiting Students)
| Pre-requisites |
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Co-requisites | |
| Prohibited Combinations | |
Other requirements | None |
Information for Visiting Students
| Pre-requisites | None |
Course Delivery Information
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| Academic year 2021/22, Not available to visiting students (SS1)
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Quota: 52 |
| Course Start |
Block 2 (Sem 1) |
Timetable |
Timetable |
| Learning and Teaching activities (Further Info) |
Total Hours:
100
(
Seminar/Tutorial Hours 10,
Programme Level Learning and Teaching Hours 2,
Directed Learning and Independent Learning Hours
88 )
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| Additional Information (Learning and Teaching) |
Seminar/Tutorial hrs are the min total live hrs, online or in-person, students can expect to receive
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| Assessment (Further Info) |
Written Exam
0 %,
Coursework
100 %,
Practical Exam
0 %
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| Additional Information (Assessment) |
100% coursework (individual) - assesses all course Learning Outcomes
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| Feedback |
Formative feedback:
Feedback on weekly exercise will be provided to students.
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| No Exam Information |
Learning Outcomes
On completion of this course, the student will be able to:
- Critically assess energy policies and understand the factors contributing¿to the development of energy markets.
- Apply project finance financial modelling to real world cases.
- Critically evaluate the appropriate use of key assumptions in project¿finance financial modelling.
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Reading List
| Bodmer (2014) Corporate and project finance modelling : theory and practice. Wiley Finance |
Additional Information
| Graduate Attributes and Skills |
Knowledge and Understanding
After completing this course, students should be able to:
- Demonstrate a critical understanding of the interplay between energy policies and energy markets
- Apply the understanding of capital structure to finance energy projects
- Understand the process and risk profile of major energy technologies
- Identify potential sources of finance for energy project cases
Practice: Applied Knowledge, Skills and Understanding
After completing this course, students should be able to:
- Build financial models to interpret and analyse investment alternatives
- Derive several relevant ratios of project value that account for asset life, taxes, return on investment and cost of capital
Cognitive Skills
After completing this course, students should be able to:
- Critically evaluate new and complicated ideas
- Offer creative solutions and insights on complex issues
Communication, ICT, and Numeracy Skills
After completing this course, students should be able to:
- Communicate technical, conceptual and critical information clearly and concisely.
- Use Excel spreadsheets to analyse complex financial models.
- Develop excellent communication skill incl. presentation and writing skills
Autonomy, Accountability and Working with Others
After completing this course, students should be able to:
- Provide and receive feedback from peers and the course organiser.
- Collaborate with others from different professional knowledge, educational and cultural backgrounds. |
| Keywords | Not entered |
Contacts
| Course organiser | Dr Luca Taschini
Tel:
Email: Luca.Taschini@ed.ac.uk |
Course secretary | Miss Fionna Ogilvie
Tel: (0131 6)51 3028
Email: Fionna.Ogilvie@ed.ac.uk |
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