Course 16 of 20 · Power Origination and PPA Desk Academy

Multi-Site Procurement & PPA Portfolios

Stage D, Financing, accounting and portfolio. Level 8 of 10.

Aggregating several contracts and sites into one portfolio position with blended shape, basis and credit exposure.

126 chapters · 12 modules · every chapter one 8 to 10 minute explainer · builds on: Course 04, Course 11, Course 13

Enrol or enquire See the 126 chapters
How a chapter is delivered

One chapter is one idea taken to the point of use

Each chapter covers one idea to the point where you can use it, and comes two ways: a narrated explainer, and a deep dive audio discussion of around thirty minutes that works the same material at depth.

Self-paced throughout, and the same chapters can be taught as a cohort. Chapters run in order: each one assumes only what the chapters before it taught, and capability belonging to a later course is named and deferred rather than half-covered.

Curriculum

12 modules · 126 chapters

Open any module for its full chapter list, in teaching order.

M0 A Portfolio of Agreements Rather Than a Series of Deals Ch 1-10
  1. When the Fourth Agreement Changes How the First Three Behave
  2. Whose Portfolio This Is: The Procurement Lead's Seat
  3. Drawing the Perimeter Around a Multi-Site PPA Position
  4. Four States an Agreement Passes Through Before It Holds a Position
  5. Why Two Equal Volumes of Contracted Output Behave Oppositely
  6. Composition Rather Than the Next Signature
  7. The Three Portfolio Quantities That Move Together
  8. Two Calendars a Multi-Site Programme Runs On
  9. What This Course Assumes You Already Hold
  10. The Four Simplifications This Method Rests On
M1 The Procurement Mandate the Portfolio Must Serve Ch 11-20
  1. Consumption Across Many Sites as the Thing Being Covered
  2. Reading a Multi-Site Load Register
  3. Separating a Firm Coverage Commitment From an Ambition
  4. Three Ways to State a Coverage Target, Three Portfolios
  5. Hourly Matching Treated as a Portfolio Constraint
  6. Which Sites an Agreement Can Lawfully Serve
  7. The Budget Stated as a Band Rather Than a Point
  8. From a Group Commitment to Each Site's Contracted Megawatt Hours
  9. The Mandate Revised Once a Year, and What Breaks That
  10. Writing the Mandate Down So the Portfolio Can Be Audited
M2 The Contract Register and the Site Inventory Ch 21-31
  1. The Contract Register Without Which No Portfolio Exists
  2. Normalising Two Agreements Onto One Schema
  3. Recording a Pay-as-Produced Agreement Beside a Baseload One
  4. Recording a Virtual Agreement Beside a Sleeved Physical One
  5. Normalising Reference Price Definitions Across Agreements
  6. Units, Currencies and Time Stamps in a Cross-Border Register
  7. The Generation Site Record Behind Each Agreement
  8. Grading Expected Output: Operating, Commissioning or Consented
  9. Pre-Operational Agreements and the Cover That Is Not There Yet
  10. Who You Actually Face Behind Each Contracted Site
  11. A Register Assembled for Nine Agreements, Worked
M3 Blending Shape Across Sites Ch 32-43
  1. What Blending Shape Means When Every Agreement Has Its Own
  2. Adding a Solar Profile to a Wind Profile
  3. Adding Two Wind Sites in Different Regions
  4. The Blend Laid Against the Load It Must Cover
  5. Deficit Hours and Where They Cluster
  6. Why the Blend Is Not the Sum of Its Agreements
  7. One Agreement's Negative-Price Stop Inside a Blended Position
  8. A Collar on One Agreement Inside a Blended Position
  9. Volume Flex Exercised Across the Portfolio Rather Than Per Agreement
  10. Measuring Blended Coverage Three Ways
  11. The Over-Covered Hour and What the Buyer Does With It
  12. A Blended Shape Built Across Five Sites, Worked
M4 Blending Basis and Capture Across Nodes Ch 44-54
  1. Why a Multi-Site Portfolio Holds Several Basis Positions at Once
  2. Mapping Each Agreement's Settlement Point to the Buyer's
  3. Generation Node Against Consumption Point in One Position
  4. Blending Capture Across Sites That Share One Reference Price
  5. Blending Across Agreements on Different References Entirely
  6. Holding Basis Steady Across Nodes, and What Breaks It
  7. Cannibalisation That Deepens as the Portfolio Itself Grows
  8. Two Sites in One Zone Behaving as a Single Exposure
  9. Currency as a Leg of a Cross-Border Portfolio
  10. Reporting Blended Basis Without Hiding the Tail
  11. A Blended Basis Position Across Four Markets, Worked
M5 Correlation and Diversification Across Sites Ch 55-64
  1. What Spreading Sites Can and Cannot Do
  2. Measuring Co-Movement Between Two Contracted Sites
  3. Distance as a Weak Proxy for Independence
  4. Technology Mix as the Stronger Source of Offset
  5. The Case for Spreading a Procurement Programme, and the Case Against
  6. Treating Sites as Independent, and What Breaks It
  7. Common Ownership Behind Apparently Separate Sites
  8. The Curtailment Instruction That Hits Several Sites at Once
  9. When Adding a Site Makes the Blend Worse
  10. A Portfolio That Diversified on Paper Only
M6 The Residual the Portfolio Leaves Behind Ch 65-74
  1. The Residual as the Portfolio's Real Output
  2. The Supply Arrangement Sitting Behind Every Covered Site
  3. What the Supplier Charges for Shaping the Residual
  4. Surplus Volume and the Three Routes Out of It
  5. Imbalance Inside a Sleeved Portfolio and Who Carries It
  6. The Residual Rewritten by One New Commercial Operation Date
  7. Over-Contracting Across the Portfolio and the Position It Creates
  8. Sizing the Residual Before and After Each Signature
  9. Why the Residual Carries Most of the Cost Variance
  10. A Residual Traced Across One Illustrative Year
M7 The Blended Attribute and Claim Position Ch 75-83
  1. Aggregating Certificates From Many Sites Into One Position
  2. Allocating One Portfolio's Certificates Across Group Sites
  3. Cross-Border Certificate Eligibility in a Multi-Country Portfolio
  4. Timing Mismatch Between Production and the Claim Year
  5. Surplus Certificates and the Decision Not to Retire Them
  6. Hourly Matched Claims Across a Portfolio and What They Demand
  7. A Certificate Shortfall at One Site and Three Ways to Close It
  8. Reconciling the Certificate Position to Registry Balances
  9. A Blended Claim Position Assembled, Worked
M8 Portfolio Credit and Counterparty Exposure Ch 84-94
  1. Credit Exposure That Appears Only When Agreements Are Added Up
  2. The Buyer's Own Covenant Seen by Several Sellers at Once
  3. Aggregating Mark-to-Market Exposure Across Agreements
  4. One Counterparty Standing Behind Three Agreements
  5. Netting Across Agreements With One Seller, and When It Fails
  6. Collateral Called Under Several Agreements in One Week
  7. A Concentration Ceiling for Sellers in a Procurement Programme
  8. Developer, Fund and Utility Sellers Rated Differently
  9. A Downgrade That Moves Several Agreements at Once
  10. Replacing One Agreement That Terminates Early
  11. A Blended Credit Exposure Reported, Worked
M9 Portfolio Settlement, Invoicing and Blended Cost Ch 95-105
  1. Nine Settlement Statements, One Monthly Number
  2. Aligning Settlement Calendars That Do Not Agree
  3. The Monthly Settlement Cycle a Portfolio Desk Runs
  4. Blended Effective Cost per Megawatt Hour and What It Hides
  5. Separating the Contract Result From the Supply Bill
  6. Accruing for the Statement That Always Arrives Late
  7. One Disputed Statement Inside a Blended Month
  8. Settling in Three Currencies and Reporting in One
  9. Forecasting Next Quarter's Blended Cost
  10. The Blended Cost Measure That Flatters a Programme
  11. One Portfolio Month Settled End to End, Worked
M10 Sequencing, Limits and Governance of a Multi-Site Programme Ch 106-116
  1. Procuring in Tranches Rather Than All at Once
  2. The Order in Which Portfolio Constraints Are Applied
  3. Choosing Between Two Candidate Agreements That Fit Equally
  4. Laddering Tenor Across a Portfolio of Agreements
  5. Holding Budget Headroom for the Next Tranche
  6. When No Feasible Portfolio Exists
  7. Relaxing One Portfolio Constraint on Purpose
  8. The Limit Set a Multi-Site PPA Portfolio Needs
  9. Decision Rights Over a Procurement Programme
  10. Reviewing the Portfolio on a Calendar Rather Than After a Shock
  11. Handing a PPA Portfolio to the Next Procurement Lead
M11 The Portfolio Worked End to End, and Its Limits Ch 117-126
  1. The Worked Programme, Part One: The Mandate and the Sites
  2. The Worked Programme, Part Two: Shape Blended Against Load
  3. The Worked Programme, Part Three: Basis and Currency Layered On
  4. The Worked Programme, Part Four: Credit and Concentration Tested
  5. The Worked Programme, Part Five: The Residual and the Blended Cost
  6. The Worked Programme, Part Six: The Next Tranche Decided
  7. Three Years On: The Programme Has Drifted
  8. The Same Mandate Covered Two Ways
  9. What a Blended Portfolio View Cannot Show You
  10. Where This Portfolio Position Is Taken Apart and Used

The brochure gives each of these 126 chapters a paragraph on what it covers and what you can do once you have worked through it.

This is course 16 of twenty

It stands alone, and it is also the entry point to the Power Origination and PPA Desk Academy pathway.

Enrol or enquire See the whole pathway