This is about financing and funding options for water innovation and large tidal projects.

1. Energy and Water Works
Side meeting on 9 February 2016
Finance and Innovation
Eef Leeuw & Tom Baur
EIP Water Secretariat

2. EIP Water
Overview
• Financial landscape in (sme) water innovation
• EIB project bonds initiative and InnovFin portfolio
• Funding process outline
• Preliminary conclusions
EWW side meeting 9 Feb 2016

3. EIP Water
Financial landscape I
EWW side meeting 9 Feb 2016
Pressure on
banks’ balance
sheets…
Monolines less
active… Solvency
regulation
stricter…

4. EIP Water
Financial landscape II
EWW side meeting 9 Feb 2016

5. EIP Water
Funding phases
EWW side meeting 9 Feb 2016
RE projects:
flatter line
when on full
capacity…

6. EIP Water
EIB project bonds & InnovFin portfolio
EWW side meeting 9 Feb 2016
InnovFin
Project Bond Initiative

7. EIP Water
Funding outline
• Preparatory work: revenue-risk-mitigation,
permitting, tax issues, concession, project company
• Due diligence to access project’s bankability
• Establish funding structure v.v. financial strategy
• (Rating agency process)
• Finalise financial documentation
• Roadshow
• Launch, fund and close
EWW side meeting 9 Feb 2016

8. EIP Water
Preliminary conclusions for water innovators
• Understand and respond to fund raising – and
market cycles
• Follow the stream and portfolio matching
• Broaden reach across entire spectrum
• Sector verticals
• Cyclical low-point reached (?)
EWW side meeting 9 Feb 2016

9. EIP Water
Questions and Answers
www.eip-water.eu
Eef Leeuw & Tom Baur – Secretariat EIP Water
EWW side meeting 9 Feb 2016