Wednesday, 22 October 2014
The European project finance market has been flat for some time now but there are signs it is picking up. In the latest Q3 numbers for the asset class, the EMEA region was level at US$70bn compared with the same time last year. However, perhaps surprisingly, Western Europe was up 37.5% to US$40bn. See PFI’s detailed European supplement by clicking on the Special Reports tab for 2014.
Institutional investors are warming up to Italian infrastructure and are looking to close their first deal. Commercial banks, including foreign lenders, are also featuring prominently. By Stefano Berra.
Given the evident need for new infrastructure, driven by Asia’s continued population and economic growth, businesses and governments alike will be encouraged by the emergence of three new Asian funding sources. By Nomita Nair and Robert Gross, partners, project finance, at Berwin Leighton Paisner LLP.
Spurred into action by the 2011 Fukushima nuclear meltdown, the National Diet of Japan seized on popular anti-nuclear sentiment and passed sweeping legislation to encourage the development of the nation’s renewable energy resources. By Dan Brown and Celeste Koravos, DLA Piper.
The project finance market in Europe has become intensively competitive as the number and type of debt providers grows. Banks are coming back strongly into the medium and long term debt market as the effects of the euro crisis fade. Institutional investors, attracted into the market to fill the gaps made when the banks left during the euro crisis, remain and indeed are growing keener on the infrastructure sector. In times of low interest rates and low inflation, the yield uptick offered by creditworthy projects is compelling.
The keenly awaited annual Project Finance International (PFI) Global Infrastructure report has been published at a time when the market is turning. More long term liquidity is available for infrastructure schemes, pricing on shorter term infraco deals is moving down encouraging sponsors back into bidding for assets and the projects pipeline is showing signs of growing once again.
PFI has released its first Best Practice in Asia report - at a time when the procurement and development of projects has never been more critical as the region seeks to ensure its infrastructure keeps pace with its economic growth. The report includes a range of views from senior project practitioners plus the first PFI Citations for best practice.
This is the 8th year that PFI is putting together an annual report on India. It comes at a special time when the country has just elected a new prime minister – Narendra Modi – the leader of Bharatiya Janata Party, who broke the status quo and is expected to bring marked changes to the direction the economy has been going through. The theme of the report will thus be “the rebooting of India”.
Thomson Reuters Project Finance International (PFI) is pleased to launch its survey of law firms in the project and infrastructure finance sector for the fourteenth year running.
The PFI Legal Survey will be published in November. To take part, please complete the survey form contained in this pdf.
To read the PFI Magazine or Yearbook Digital Edition you will need to enter your details in the login section. If you have forgotten your password, or would like to find out more about PFI subscriptions, please email email@example.com.
The Global Energy report takes a look at the full range of issues currently exercising the project finance market - from funding schemes in Africa and obtaining finance for coal fired plants onto renewables, FLNG and the LNG boom in North Americas.
The need for rail road, power, port and resources infrastructure has become an economic priority for countries across the Asia Pacific. The lessons from past infrastructure financing failures have also been learned as governments, sponsors and lenders frame new financial structures that share and minimise financial risk during construction.