Interregional Training Course on Advanced Approaches in Financing Nuclear Power Plant (NPP) Projects

Application Deadline for Nominee(s) of Invited IAEA Member States: 6 May 2019

Purpose

The objective of this training course is to support decision makers and those responsible for developing and implementing a nuclear programme in Member States considering the introduction of nuclear power (including States in Phases 1, 2 and 3) to improve the knowledge and develop the skills and abilities needed for success in the introduction of nuclear power, with emphasis on issues relating the financing of nuclear power plants.

Expected Output(s)

The expected outputs of the training course are:

• Improved ability to address the challenges and issues relating to building a national position and financing nuclear power plants;
• Better knowledge of NPP financing and funding options as well as procurement structures and better understand of contracting mechanisms including Engineering, Procurement and Construction (EPC) contracting.
• Improved knowledge of financial risks, economics of nuclear power, and market regulations and better understanding of alternative financing mechanisms.
• Enhanced networking opportunities among participants.

Scope and Nature

Courses activities will revolve around three major inter-related objectives:

(i) providing knowledge of key issues a State has to consider when establishing a nuclear power programme, specifically financing options and strategies; (ii) presentation of case studies of countries that have recently completed or are now in the process of making financial arrangements; (iii) further strengthening the networking among emerging nuclear power countries and sharing international and field experiences.

The training course will cover financial issues, including alternative contracting and ownership approaches for nuclear power programmes. It will include a brief refresher on key qualitative financial metrics, the outlining of a general framework within which the importance of optimal financial risk allocation can be understood, and presentations on the tole of financial modelling.

The 5 days training course will be divided into 10 course modules:

• Module 1: Key concepts and metrics for financing decision-making
• Module 2: Financing and risk allocation in nuclear power projects
• Module 3: Risk allocation in commercial contracts (PPAs and EPCs)
• Module 4: Sources and structures of financing (debt vs equity)
• Module 5: Satisfying lenders and investors (due diligence, reputational risk, etc.)
• Module 6: Case studies
• Mudule 7: Financial modelling
• Module 8: Funding "back-end" liabilities

The course will be conducted as a series of presentations by the IAEA staff, international experts, management and technical specialists of the Argonnne National Laboratory, the United States and other countries. The programme will also include discussions, case studies and exercises, peer-to-peer exchange of good practices, and working group sessions on possible solutions to common problems.

In addition, the course will discuss opportunities for participants to network and continue sharing information and good practices, as well as other potential follow-up tasks and coordinated activities, as appropriate.