PFI has published its H1 2025 LSEG Project Finance International league tables. Global project finance loan volumes rose by 32% in the first half of the year to US$207.5bn compared with US$157.2bn in the same period last year.
Lead Story
Lead Stories
The Trump administration’s One Big Beautiful Bill Act became law on July 4. Project finance structures are set to shift again. By Nic Stone and Alison Healey

Orsted has secured financing for Greater Changhua 2 offshore wind projects. Two new deals are about to hit the market. By Minerva Lau

Germany’s onshore wind repowering market has entered its consolidation phase. A pioneering holdco debt syndication has set the tone. By Cristiana Sandeva

PFI Comment
The offshore wind sector has received a tonic with two mega greenfield deals financed this month following the big Polish deal in June and a further one due soon in the same country. That amounts to €14bn of project finance. Clearly there is no shortage of debt. Equity is another matter.

Growth in the global project finance market continued apace in the second quarter following on from a strong first quarter. The result is an impressive first half in the loan tables with project bonds coming in on par with the 2024 figure. The US market was again a mainstay of activity accounting for nearly half of the global loans total and nearly two-thirds of global bonds.

The international market for large nuclear power plants has recently gained traction both within countries that have existing nuclear power resources as well as non-nuclear power countries, which have announced an intention to implement, or have already begun the implementation of a national nuclear power programme.1 By Kelly Malone of King & Spalding LLP and Helen Cook of GNE Advisory

PFI Global Energy Report 2025
PFI Global Energy Report 2025
PFI has published its annual Global Energy Report. The report presents case studies of important leading-edge deals and profiles various institutions and developers involved in the sector. Battery storage is a common theme across the report alongside energy for AI and data centres.
