Infralogic Investors Forum – Spain 2022
A brand new event connecting the Spanish infrastructure community with new deal opportunities and deep analysis of market trends!
Casino de Madrid, C. de Alcalá, 15, 28014 Madrid
Agenda
Registration and breakfast
Chair’s welcome remarks and Infralogic’s 5 charts on Iberia
Referencing Infralogic data, our chair will provide an overview of the key trends shaping the Iberian infrastructure market and outline where Infralogic sees future opportunities.
Opening panel discussion: State of transportation market in the Iberia region
Despite the pandemic, deal flow in Spain and Portugal has been steady. Several road M&A transactions are currently taking place in Iberia and projects like AP-7 Alicante-Cartagena motorway concession in Spain and the Portuguese motorway concession Auto-Estradas do Douro Litoral (AEDL) all look very promising for the future. In this opening panel, panelists will discuss the latest trends in financing transactions, outlining where they see the challenges and opportunities in the transportation sector over the next few years and how they will meet and exploit them.
- An overview of the development of the Iberia infrastructure investment and the impact of Covid-19
- How do the changes in the macroeconomic environment might affect the deals in Iberia?
- What does the greenfield and brownfield pipeline hold for investors over the next year?
- How has the last 12 months affected the outlook for transportation deals and which parts of the sector offer the best opportunities?
Networking coffee
Panel discussion: Energy transition
In 2021, energy transition was a major motivator for Spanish deal activity. This was most apparent when looking at outbound activity. In one of the year's largest renewable energy transactions, Spain's Iberdrola partnered with Qatar Investment Authority to acquire a 20.1 percent stake in US-based AVANGRID for €3.3 billion. In this fireside chat speakers will discuss how this market is expected to grow over the coming decade and will share what they see are the opportunities and barriers.
Panel discussion: Renewable energy investment: what you should know and what to expect?
The COVID-19 pandemic has defined the last two years and the economies of Spain and Portugal have been particularly affected; however, the appetite for renewables assets is propelling early-year Iberian activity. In this panel, panellists will speak about the opportunities in the renewables energy sector in the Iberia region:
- What are the benefits and risks of renewable energy investments?
- What are the current drivers for renewables energy investing today?
- What strides is the renewable energy industry making?
- What makes Spain a hot spot for renewable development and investment?
- How is climate risk is driving institutional investment in renewables?
- What are the key challenges when financing or considering financing zero-subsidy projects?
Networking coffee
Fireside chat: Accelerating the digital transformation
The surge in infrastructure fund interest in digital infrastructure showed no signs of slowing down in Europe. In terms of digital connectivity, Spain is the country with the third best connectivity in Europe, and their digital transformation has a budget of 20 billion euros for the period 2021-2023, accounting for nearly 30 percent of the Recovery Plan's total funds. Portugal is also pushing for digital transformation, as the coronavirus crisis has increased the urgency of digital transformation, and Portuguese businesses have realised that innovation and digitalisation may be the best available tools to deal with the current crisis. In this panel, speakers will discuss what is next for digital infrastructure dealmaking and convergence.
- What are the next areas of investment for infrastructure telecom investors?
- What is driving the surge in digital infrastructure deals and what is next for digital infrastructure developments?
- Are current public sector incentives enough?
- How is access to financing and regulatory conditions shaping deal flow?
Chair’s closing remarks
Networking lunch
Confirm cancellation
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Mar Beltran is an Independent Board Director with broad investment experience on behalf of Institutional Investors and Pension Funds. Her Board portfolio includes Monegros Energy and Globalvia Infraestructuras, both in Madrid currently and Sydney Airport , Reliance Rail or Asia Pacific Airports Corporation previously in Australia. Generally large corporates, with major investment programs, and a significant social and environmental footprint. Mar is an Aerospace Engineer and an Executive MBA.
Mar Beltran is an Independent Board Director with broad investment experience on behalf of Institutional Investors and Pension Funds. Her Board portfolio includes Monegros Energy and Globalvia Infraestructuras, both in Madrid currently and Sydney Airport , Reliance Rail or Asia Pacific Airports Corporation previously in Australia. Generally large corporates, with major investment programs, and a significant social and environmental footprint. Mar is an Aerospace Engineer and an Executive MBA.
Francisco has been a board member of the general partner of TIIC1 since inception in 2008, as well as a member of TIIC1 and TIIC2’s investment committee. Francisco has been instrumental for the implementation and execution of TIIC’s investment strategy, as the responsible for leading operational initiatives and interfacing with technical, operating and financial management teams on portfolio projects. Francisco led or co-led the 6 investments of TIIC1 and participate in the asset management of some investments of TIIC2.
Member of the Board of AEBT and AELO (Portugal), Traza and SEM (Spain), Fermoy and Limerick (Ireland) and member of the Supervisory Board of Kekava (Latvia).
Manuel is the Head of Infrastructure team at Santander Asset Management Alternative Investments joining SAM in February 2022. Manuel has 20-years of working experience on the Infrastructure market.
Prior to Santander Asset Management, Manuel worked 17 years at Santander Corporate & Investment Banking where he hold different roles on the front-office and risk teams on different locations (Madrid, Spain and New York, USA). During his last years at SCIB, he led and develop the Global Distribution & Take-out Risk team being his main responsibilities the oversight of Santander’s underwriting and distribution activity including Corporates and Structured Finance senior loan and other types structured credit strategies mainly on non-recourse Infra finance market.
From 2016 to 2020, he was responsible for the Global Structured Finance Risk team covering Santander activity on Project Fin, LevFin, Structured Trade, Securitizations, Asset Based Fin, Principal and Fund Finance.
From 2006 to 2016, Manuel was part of the Global Project Finance front-office team managing the analysis, structuring, and execution of Project Fin deals covering globally almost all type of sectors being based on Madrid and New York.
He started his career working for Morgan Stanley for almost 5 years on the Private Wealth Management group.
Manuel received an M.B.A. degree from IESE Business School and a Bachelor degree in Law from University Complutense de Madrid.
Roger Font joined Banco Sabadell in 2002. After several roles within the Structured Finance Department in the bank, he led the Corporate Financing Barcelona team in 2008 and in 2013 the newly created Middle Market Department. In January 2019, he was appointed Global Head of Project Finance, Asset Finance and Specialized Lending. Roger holds a Bachelor’s degree in Business Administration from American University in Washington D.C., MBA from ESADE and PDG from Iese.
Ignacio Inda Arriaga is an infrastructure investment and project finance professional with over 15 years of investment banking and consulting experience in London, Madrid and New York, advising clients on the structuring and restructuring of water, waste, renewable energy, conventional power and PPP/transportation infrastructure projects.
He started his emerging markets banking career in 2006, and has since worked for some of the leading international banks in the infrastructure market (ABN Amro/RBS, BBVA, Mizuho), focusing on project financings/bonds and workouts in the Latin America, North America and EMEA regions for an overall investment of over $15billion.
He is now a Managing Partner with WIF Capital, an equity/quasi-equity investment platform focused on environmental infrastructure assets, including water (treatment, potabilization, desalination, water infra for agribusiness), waste (waste management, waste-to-energy) and renewable energy (PV, wind, green hydrogen, blue/green ammonia).
Ignacio holds a MSc/BSc in Industrial Engineering from Universidad Pontificia Comillas’s ICAI School of Industrial Engineers in Spain and a Master’s of International Affairs in International Finance and Development from Columbia University – SIPA (funded through a Fulbright Scholarship awarded by the US Department of State).
Félix Plasencia specializes in public law (e.g., public procurement, expropriation and concessions) and in regulated sectors (e.g., energy and financial regulatory), as well as in complex arbitration proceedings and civil lawsuits relating to the public-regulatory sector.
Before joining Cuatrecasas, he was managing partner of the legal department of a leading international law firm. He was also the partner in charge of public law and regulated sectors at a leading national law firm.
Counsel for the state on leave of absence, he has held several important positions in public administration, including coordinator of the financial regulatory area of the judicial review division at the Central Criminal and Administrative Court.
He lectures in the Master in Energy Law at the Spanish Energy Club and in the Master in Public Law at Instituto de Estudios Cajasol.
He has written several legal publications on administrative law and energy law.
He is a member of the Madrid Bar Association.
José Luis Álvarez is Director at Voltiq. Started as Analyst in 2016 working on complex and sophisticated financial modelling in both public tender process and private transactions, José Luis has grown to the role of Associate and now Director. He has been instrumental in landmark transactions such as the 81 MW Hedet wind financing in Finland, for Neoen, and the successful tenders for Jinko in Argentina.
José Luis started his career in 2013 at General Electric working as an Intern in the Financial Controller Team. In 2014, he joined Deutsche Bank as an Intern in the Investment Banking Division, where he actively collaborated with the M&A, ECM and DCM teams. In 2015, José Luis joined PwC as a consultant developing projects for the Financial Function team.
José Luis holds a M.Sc. in Telecommunication Engineering from Universidad Politécnica de Madrid and a M.Sc. in Management from HEC Paris. José Luis is fluent in Spanish and English.
Asís Echániz joined EQT Partners in October 2017 and is Head of Spain.
Prior to joining EQT Partners, Asís worked at Kohlberg Kravis Roberts & Co (KKR) within the Private Equity and Infrastructure teams and at J.P. Morgan within the Investment Banking Division.
Asis holds an MBA from New York University Stern School of Business and a B.Sc in Industrial Engineering from ICAI Universidad Pontificia de Comillas.
Fernando Bernad has led many project finance transactions and infrastructure projects (including motorways, subway lines, hospitals and desalination plants), energy projects (solar thermal, photovoltaic, and biofuel plants, and wind farms) in Spain and other countries; acquisition finance transactions (LBOs/MBOs); and simple and structured real estate transactions (sale-and-leaseback agreements and profit sharing).
He advises private and public sector clients on designing and implementing debt restructuring and refinancing transactions in sectors such as real estate, construction, leasing and renting, and large-scale retail.
He is the non-board member secretary of entities supervised by the Spanish Securities and Exchange Commission.
He regularly lectures at business schools and universities.
Nicolò heads up Aon’s Infrastructure M&A practice in Southern Europe. He has joined Aon in 2019 from Moody's, where he was responsible for a portfolio of project finance and corporate infrastructure ratings in a variety of sectors, including European renewables. Prior to Moody's, Nicolò spent eight years at Mediobanca structuring project finance and corporate facilities across a wide range of infrastructure assets. Nicolò holds a Master of Science in Corporate Finance from Bocconi University in Milan and has completed an Exchange Programme at LMU in Munich.
Biography to follow.