A Facility Capital Modification Financing in a P3 Project
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CONTENT EXPIRES: December 31, 2023
The San Diego County Water Authority used a Public-Private Partnership (“PPP”) for the implementation of the Carlsbad Desalination Plant (“CDP”). PPP contracts are long-term agreements that must incorporate terms needed to deal with external changes that due to their nature are “uncontrollable events. The CDP project faced the need for a "Capital Modification" financing due to the planned closure of the Encina Power Station and the adoption of the California Ocean Plan requirements for additional environmentally friendly intake and discharge facilities. Presentation to discuss key considerations leading to the closing on a second PPP $45 million Capital Modification financing.
Objectives:
1. Demonstrate contracting principles and the need to address inevitable uncontrollable circumstances during a PPP.
2. Define best practices for effective collaboration for managing secondary PPP financing
3. Applying consistent PPP risk allocation principles to a second Capital Modification PPP financing for a project
4. Describe the specific nature of, and considerations relevant to, a Capital Modification PPP financing.
Neil Callahan
Director, Advisory Services
WSP USA
Neil Callahan is an Executive Consultant in the Advisory Services group at WSP. For over two decades, he has worked providing Owner Advisory Services, and Independent Engineering. Mr. Callahan has been a lead advisor to over 30 municipal agencies on collaborative project delivery methods on project development, procurement methods, risk, contract development and negotiations, and construction contract administration and monitoring for projects with values that ranging up to a $1 billion
Robert Yamada, P.E.
Project Manager
San Diego County Water Authority
Mr. Yamada has been working with the San Diego County Water Authority since 1992. He has experience leading water supply planning, drought response, Integrated Regional Water Management planning, facility planning and environmental and regulatory compliance activities for the Water Authority. Mr. Yamada led the negotiation of the technical aspects of the Water Purchase Agreement for the Claude “Bud” Lewis Carlsbad Desalination Project and oversees Water Purchase Agreement compliance for the Water Authority.
David Moore
Managing Director
Clean Energy Capital Investment Banking
David Moore founded Clean Energy Capital and serves as Managing Director and Chief Executive Officer. David is a veteran deal-maker with deep knowledge of structured finance, project finance, and municipal finance. He has been involved in the energy and infrastructure sectors for over 30 years. He is known as an innovator and problem-solver with a commitment to integrity and client service.
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