EIG Credit Management Company is evaluating an opportunity to participate in a transaction involving the 550 MW power-generating facility known as the Casco Bay Power Project, located in Maine, USA, and operating in the ISO-New England market. The Project is currently in operation. The Client has requested that K&M conduct a desktop review of the Project, including its technical characteristics, the Due Diligence Report prepared by Black and Veatch, the projected O&M costs, and technical inputs to the financial model. K&M Advisors reviewed the Project’s technical characteristics and basic design, focusing on the major equipment, interconnection with the grid and other interfaces, and historical plant performance, such as output, heat rate, and availability. Additionally, K&M prepared a review of the operating records and O&M reports and the due diligence report prepared by Black and Veatch. K&M reviewed and commented on the technical inputs to the financial model and prepared a memo summarizing the findings and observations based on the results of the above activities.

The Cayman Islands’ Utilities Regulation and Competition Office (URCO) is planning to issue a Request for Proposal (RFP) to procure 94 MW of power in response to Caribbean Utilities Company’s (CUC) recent Certificate of Need (CoN) submission, which was approved by the regulator. As part of the preparation for this RFP, CUC is developing the required tender documentation, including a potential fuel interconnection agreement in the event that third-party bidders propose thermal generation resources requiring connection to CUC’s existing fuel transfer pipeline from the fuel terminals. CUC previously prepared a draft of this agreement for a 2016 thermal RFP, though it was ultimately not used because CUC won the bid. CUC has requested K&M Advisors’ support to review and update the agreement, particularly in light of K&M’s recent involvement in the renewal of CUC’s ULSD supply arrangements. K&M’s services include conducting a detailed review of the existing agreement and its commercial, technical, and regulatory provisions; identifying outdated terms, gaps, ambiguities, and potential risks; and preparing revised drafts reflecting current market practice, CUC’s operational requirements, and the regulatory context of the URCO-led RFP process. K&M and CUC will also hold working sessions to review findings, discuss revisions, and finalize the agreement for inclusion in the RFP package.

The Inter-American Development Bank (IDB) contracted K&M to update the historical and projected financial viability analysis of IDAAN (Instituto de Acueductos y Alcantarillados Nacionales) and provide financial modeling training to IDAAN. This support is essential for the approval of a US$230 million guarantee to IDAAN for payments related to a wastewater treatment plant in the city of David. In this assignment, K&M: (i) updated the historical financial and operational analysis of IDAAN; (ii) updated IDAAN’s projected financial analysis based on a long-term financial projection model for IDAAN (up to 25 years), including a detailed projection of its financial statements; and (iii) provided training to IDAAN staff on the use of the financial model.

The International Finance Corporation (IFC) contracted K&M to support Sedapal, the water and sanitation utility responsible for providing service in Lima, in preparing a single, coherent, and financially viable investment plan for the 2027–2031 regulatory period. This plan will form part of Sedapal’s PMO and serve as the basis for its tariff-setting application to SUNASS.  In this assignment, K&M: (i) consolidated and validated all relevant information required for the tariff application, including regulatory parameters, financial statements, operational indicators, and project portfolios; (ii) updated and refined Sedapal’s financial planning model to evaluate investment affordability, cash availability, and financing requirements; (iii) assessed investment scenarios, incorporating SUNASS tariff rules, Sedapal’s proposed project pipeline, and feasible financing strategies; (iv) is preparing a prioritized and executable investment plan that SEDAPAL can both finance and implement within the regulatory period; (v) is preparing tariff sensitivity analyses to ensure the investment plan aligns with potential tariff paths generated through SEDAPAL’s own tariff model; and (vi) supported Sedapal in preparing the PMO input for submission to SUNASS, ensuring regulatory alignment and internal institutional ownership.

K&M is supporting the International Finance Corporation (IFC), under a consultancy framework led by Poten & Partners, in the Lebanon Gas-to-Power Project. The assignment focuses on technical advisory for the rehabilitation and gas conversion of the existing Deir Ammar I power plant and the development of a new gas-fired combined cycle power plant (Deir Ammar II). The work is being carried out in the context of Lebanon’s broader power sector transition toward natural gas and improved system reliability, and includes technical, operational, and cost analyses to inform project structuring, financial modeling, and procurement preparation. The assignment also supports preparation of tender documentation for private sector participation.

K&M is providing technical advisory services across Phase 1 feasibility and analysis and Phase 2 procurement support. Under Phase 1, K&M is assessing the feasibility of rehabilitating and converting Deir Ammar I to natural gas, including review of plant design specifications, evaluation of recommissioning requirements, and analysis of operational performance, efficiency, and emissions. The team is modeling expected post-rehabilitation performance and preparing CAPEX and OPEX estimates, generation projections, and life extension strategies to support IFC’s financial model, as well as assessing interfaces with LNG infrastructure and conducting site visits.

In parallel, K&M is supporting the development of Deir Ammar II through system-level and plant-specific analysis, including demand forecasting, evaluation of baseload capacity needs, and recommendations on plant sizing, configuration, and technology selection. K&M is developing functional specifications and performance standards, preparing benchmarked CAPEX and OPEX estimates, and providing technical inputs to IFC’s financial modeling and project structuring.

Under Phase 2, K&M is supporting preparation of RFQ and tender documentation by translating technical analysis into inputs for procurement materials, including development of technical specifications to support a competitive and bankable procurement process.

The Caribbean Community Climate Change Centre (CCCCC) contracted K&M, with funding from The World Bank, to structure and provide support on procuring a modernization contract (MC) for the Barbados Water Authority (BWA). In this assignment, K&M: (i) reviewed, refined, and finalized the Terms of Reference (TORs) for the MC to ensure alignment with World Bank standards, BWA operational requirements, and regional water sector reform priorities; (ii) engaged closely with BWA management and staff to ensure broad-based buy-in and technical validation of the MC framework; (iii) is conducting market sounding to identify qualified potential contractors, assess market capacity and interest, and identify potential implementation challenges and opportunities; (iv) is developing a comprehensive contract structure incorporating performance-based elements, KPIs, risk allocation mechanisms, and governance frameworks that incentivize results and accountability; and (v) will provide technical advisory support to BWA’s procurement team in the preparation of bidding documents that comply with the relevant procurement guidelines and attract qualified bidders. 1535

IDB Invest contracted K&M to identify water and sanitation utilities in the Amazonia region of Bolivia, Brazil, Colombia, Guyana, Ecuador, Peru, and Suriname that could be good candidates for private investment. K&M evaluated and prioritized water and sanitation utilities across the Amazon Basin to assess their readiness for private sector participation for improving service delivery. In this assignment, K&M: (i) Conducted a diagnostic of operational performance, including water consumption trends, treatment capacity and quality, and infrastructure condition, alongside corporate governance frameworks, legal structures and underlying national / subnational regulations; (ii) Assessed the development of PPP initiatives and enabling frameworks supporting private participation; (iii) Segmented and classified utilities according to their readiness for private sector investment versus those requiring preparatory public-sector support; (iv) Identified key enabling regulatory and institutional enablers for private investment in each country; and (v) Is producing a strategic prioritization and roadmap for IDB Invest’s upstream business development, identifying potential interventions and technical assistance pathways.

As part of CAF’s development of its country strategy for Costa Rica, it contracted K&M, with Mr. Janson as the Project Director, to prepare the Infrastructure Regulatory and Sectoral Analysis Report (Documento de Análisis Regulatorio y Económico Sectorial) for Costa Rica. For each of the infrastructure sectors, this report assessed the performance, regulatory and institutional framework, level of private sector participation, impact on specific measures, and financing capacity and needs. The sectors that were assessed are water and sanitation, energy (including conventional generation, renewable energy, transmission, and distribution), transport (including roads, ports, and airports), logistics, and information, technology and communications. For this assessment, Mr. Janson interviewed, among others, authorities of the Ministry of Finance, Ministry of National Planning and Economic Policy, the Instituto Costarricense de Electricidad, the Instituto Costarricense de Acueductos y Alcantarillados, the Superintendencia de Telecomunicaciones, the Autoridad Reguladora de los Servicios Públicos, and the Consejo Nacional de Vialidad. 1531

The World Bank contracted K&M Advisors to prepare a comprehensive national energy sector policy for Saint Vincent and the Grenadines that includes a review of the petroleum and transportation sectors in addition to the electricity sector. K&M conducted focus group discussion and stakeholder meetings and prepared materials for all public consultations. K&M prepared a final draft of the national energy policy and developed an implementation plan for the policy.

The Inter-American Development Bank contracted K&M Advisors to develop a best practices guide for the extraction and sustainable use of water in hydrogen production through electrolysis, with particular emphasis on processes that incorporate desalination. In addition, prepare a methodological guide for evaluating the “water” attribute within the regional CertHiLAC certification scheme, with the objective of promoting robust and harmonized environmental criteria across the clean hydrogen value chain in Latin America and the Caribbean. As part of this assignment, K&M is responsible for: (i) comprehensive review and update of the attached Best Practices Guide for Water Use in the Clean Hydrogen Value Chain; (ii) determine water withdrawal for clean hydrogen production through water electrolysis in the region, and the expected increase in water demand according to clean hydrogen and derivatives development projections in the short term (2030), medium term (2040), and long term (2050), with emphasis on water-scarce countries such as Mexico, Brazil, Colombia, Uruguay, Chile, Peru, and the Dominican Republic; (iii) analyze water withdrawal in comparison with the main alternative uses: mining, agriculture, industry, and residential use; (iv) analyze and quantify the direct, indirect, and cumulative effects of water withdrawal for clean hydrogen and derivatives projects, using both individual project-level and regional approaches; (v) develop the necessary mitigation measures and best practices to reduce impacts, complementing the existing Best Practices Guide; and (vi) establish a specific guide for evaluating the water attribute under the CertHiLAC Regional Certification Scheme.