This provides a practical guide to developing, financing, acquiring and disposing of solar power projects. Whilst being a technology which has been adopted on a global basis, each jurisdiction has its own dynamics, so the book considers the market-specific aspects of solar power in a number of key locations including China, Japan, the US and others

In recent years solar power has been on the march. Since the millennium global solar power generation capacity has grown from 1GW to 300GW and the growth curve is not linear; the last five years have seen a marked acceleration as technologies become more efficient, manufacturing prices come down and more countries adopt low carbon regulatory policies in which solar power can play a key part. China alone saw an increase of installed solar power capacity of 33GW in 2016 and the China PV Industry Association predicts an additional 20-30GW of growth by the end of 2017.The solar power market’s dynamism is matched by its complexity. As well as advances in technology and manufacturing processes, and variations in how the technology is deployed, the regulatory and fiscal policies adopted in individual countries can vary widely. However, some common themes have emerged and the potential for further growth in solar power can perhaps be better discerned now than when the market was in its infancy.Solar Power: A Practical Handbook provides an in-depth analysis of various aspects of solar power including its commercial, technological and regulatory characteristics. It also provides a practical guide to developing, financing, acquiring and disposing of solar power projects. Whilst being a technology which has been adopted on a global basis, each jurisdiction has its own dynamics, so the book considers the market-specific aspects of solar power in a number of key locations including China, Japan, the US and others. The book concludes with a look at the future of solar power; its place alongside distributed generation, smart grids and power storage and the technologies, opportunities and challenges for the future.This book, featuring chapters by leading practitioners, will be of interest to lawyers, commercial managers, financiers and other consultants.

Preface 7Matthew WilliamsJohn DeaconOrrick, Herrington & Sutcliffe LLPIntroduction 9Matthew WilliamsOrrick, Herrington & Sutcliffe LLPPart II – Regulation, technology and economicsLegal, regulatory and industry frameworks 13Munir HassanAndrew SawbridgeCMS Cameron McKenna Nabarro Olswang LLPSolar power technologies and how they work 31Alberto CuellarJames LarmuthJose MuñozOscar VelascoMott MacDonaldEconomic drivers: support mechanisms, technology pricing, and other market dynamics 53Ricardo PineiroForesight GroupPart III – Developing solar power projectsThe anatomy of a solar power project 65Matthew WilliamsOrrick, Herrington & Sutcliffe LLPReal estate 79Brian HegartyAshfords LLPThe project agreements 95John DeaconOrrick, Herrington & Sutcliffe LLPSecuring project revenues – the route to market and monetisation of generation 105Elisabeth BlunsdonOrrick, Herrington & Sutcliffe LLPFinancing perspectives 119William EvansSimon MiddletonElgar Middleton Infrastructure & Energy Finance LLPPart IV – M&A in the solar power marketM&A and corporate structuring 139Dario BertagnaCapital DynamicsAnthony RileyYolanda YongOrrick, Herrington & Sutcliffe LLPPart V – Regional perspectivesAlgeria 165Foued BourabiatBourabiat AssociésBrazil 179João Ribeiro da CostaWagner Silva RodriguesLRNG Law FirmUrias Martiniano Garcia NetoTomanik Pompeu (in association with LRNG Law Firm)China 193Lynia LauTing SuErnst & YoungFrance 205George RigoOrrick, Herrington & Sutcliffe LLPGermany 215Niklas GanssaugeTilman Lorenz PetersenCMS GermanyIndia 225Abhishek SaxenaPhoenix LegalItaly 243Carlo MontellaOrrick, Herrington & Sutcliffe LLPJapan 257Maya ItoSadayuki MatsudairaEdward RiveraNathan SchmidtNishimura & AsahiMiddle East 269Keith BullenMona HammadiDLA PiperMorocco 285Ghalia MokhtariBennani & Associés LLPSouth Africa 297Rajen RanchhoojeeOrrick, Herrington & Sutcliffe LLPSpain 311Elena AldaveNasif HamedFernando QuiciosBelén WertPérez-LlorcaUnited Kingdom 329Elisabeth BlunsdonOrrick, Herrington & Sutcliffe LLPUnited States: California 339David SpielbergOrrick, Herrington & Sutcliffe LLPUnited States: Texas 361Gigi M JohnOrrick, Herrington & Sutcliffe LLPPart VI – Broader perspectivesThe future for solar power 373Dan WellsForesight GroupAbout the authors 385