COURSE NUMBER: MBA217.12

This course is cross-listed with the EWMBA Program

COURSE TITLE: Energy and Infrastructure Project Finance (Part 2)

UNITS OF CREDIT: 1 Unit

INSTRUCTOR: Sheldon Kimber

E-MAIL ADDRESS: sheldon_kimber@haas.berkeley.edu

CLASS WEB PAGE LOCATION: http://bspace.berkeley.edu

MEETING DAY(S)/TIME: Sundays, 9:00 AM – 5:00 PM (April 13 and April 27)

Please note the unusual format of this course, which meets all day on two Sundays (4/13 & 4/27). You must attend both sessions in their entirety in order to earn a passing grade.

PREREQUISITE(S):

Experience with financial modeling in Microsoft Excel. An understanding of basic financial math - IRR, NPV and the time value of money. Some background in economics or corporate finance particularly within the electric power or energy industries

CLASS FORMAT: The class will consist of a mixture of case work/discussion, in class modeling exercises and conclude with a team project.

REQUIRED READINGS: The class will rely on two texts as well as case materials and handouts provided in class. The texts are John D. Finnerty, Project Financing: Asset Based Financial Engineering (2nd edition, Wiley, 2007) and Benjamin C. Esty, Modern Project Finance: A Casebook (Wiley, 2003).

BASIS FOR FINAL GRADE:

The final grade will be based upon the student’s participation in case discussions, their performance on in class quizzes and their performance on the team case presentation.

ABSTRACT OF COURSE'S CONTENT AND OBJECTIVES:

This course compliments the course Energy and Infrastructure – Project Finance (Part 1). Where the first part of this offering will focus on the legal and risk framework for project financings, Part 2 will be devoted to the financial and quantitative aspects of project finance. This includes: project financing as part of the capital markets (i.e. sources of project finance), optimizing the capital structure of project financed assets, project level modeling, the lifecycle of a project financing deal, interaction between project finance and project development and the application of these and other concepts to a case problem.

BIOGRAPHICAL SKETCH:

Sheldon Kimber is the Chief Operating Officer of Recurrent Energy. He has over a decade of experience in energy finance and development. He leads all North American project development and origination activities and oversees all aspects of project engineering and execution for Recurrent Energy. Formerly the vice president of finance at Recurrent Energy, Sheldon was instrumental in developing and negotiating the company’s existing projects, fund raising efforts, and joint venture agreements. Previously, he spent five years at Calpine, working on gas-fired power projects and power purchase agreements with large energy customers. He also worked as an investment banker for industrial and natural resource companies at Goldman Sachs, and in Accenture’s strategy consulting practice, specializing in power price forecasting and asset valuation projects for utility clients. Sheldon holds an MBA from UC Berkeley’s Haas School of Business and a BA in Economics from Kenyon College.