Hybrid Annuity Model (HAM) of Hybrid Public-Private Partnership Projects

Abhinav Mittal has more than 12 years of experience in financial advisory across multiple infrastructure sectors including power, renewable energy, water, waste management, transport, urban and social infra projects. His geographic experience spans across Asia,  Middle East and Africa. He brings experience in PPP Transactions, Project Finance (debt raise and restructuring), Financial Modelling and Capacity Building. He works with governments, private sector clients and development finance institutions (DFIs) including Asian Development Bank, The World Bank and Private Infrastructure Development Group. He is Managing Director of YOG INFRA which is an infrastructure focussed financial advisory firm with an objective to drive economic growth and make positive social impact through sustainable infrastructure development. He has completed his Engineering from NIT Warangal, MBA (Finance) from XIMB and is a CFA charter holder from CFA Institute, USA. Puneet Agrawal has more than 16 years of experience in providing legal services. He is an arguing counsel appearing in high courts and tribunals, specializing in tax and commercial law. He is actively engaged in providing legal and tax consultancy to corporates including public sector undertakings (PSUs)/ State-owned Enterprises (SOEs) and Fortune 500 companies. He is a Member of Supreme Court Bar Association, Delhi High Court Bar Association, Sales Tax Bar Association and ITAT Bar Association in India. He is a visiting faculty in the Institute of Chartered Accountants of India (ICAI) and has already co-authored four books on taxation. He completed his B.Com (Hons) from SRCC, is a qualified Chartered Accountant and a practicing Lawyer. Shuchi Agrawal has more than 10 years of experience in advisory, business consulting and providing solutions to complex transactions across multiple infrastructure sectors with a strong focus on urban infrastructure and real estate developments. She is statutory auditor of various HAM SPVs. In the past, Shuchi has worked with EY and Lakshikumaran & Sridharan, which are leading advisory firms in India. Shuchi has advised global multinational companies (MNCs) with focus on Infrastructure, Healthcare and Real Estate. She completed her B.Com (Hons), LLB, and is a practicing Chartered Accountant.

Evolution of Hybrid PPPs.- Hybrid Annuity Model (HAM) – Timeline.- Contractual Structure & Risk Allocation Framework.- Success of HAM in the Indian Context.- Project Finance and Secondary Market Transactions.- Contract Review – Model Concession Agreement (MCA).- Tax Review - Indirect Taxes – GST.- Tax Review - Direct Tax.- Accounting Review – Ind AS & revenue recognition.- Success of Hybrid PPPs.- Ireland – N1/M1 Dundalk Bypass.- Philippines – Clark International Airport.- UK – Thames Tideway Tunnel.